2012 January 02 | FORECLOSURE FRAUD

Archive | January 2nd, 2012

Former Ameriquest Employee fired after he reported illegal activity, sued under the whistleblower provision of the Sarbanes Oxley Act of 2002

Posted on 02 January 2012. Tags: 10K Filing, 302 Certification, 302 Certification Sarbanes-Oxley, 60 minutes, Adam Bass, American Greed, Ameriquest Blimp, Ameriquest Mortgage Company, Ameriquest Mortgage Securities, asset backed securities, ben bernanke, Buchalter Nemer, C-Span, CitiGroup, Department of Labor, Enron, Fitch Ratings, Form 10K, hank paulson, Issuer of Securities, Judge Romano, Market Crash of 2008, mortgage backed securities, OSHA, prospectus, Ralph Romano, Roland Arnal, S.E.C., Sarbanes-Oxley, Sarbox, sec, Section 806 whistleblower, securities and exchange commission, Sox, Steve Croft, Steve Kroft, stimulus, Subprime Meltdown, TARP Bailout, Timothy Geitner, Toxic Mortgages, whistleblower, William McCloskey

Those of you who’ve had any dealings with Ameriquest may find this interesting…

Via William McCloskey

William McCloskey worked for Ameriquest from November 2004 till March 2005. William was fired after he reported illegal activity behind the walls of his Ameriquest branch, which virtually mirrored all of the widespread reports about the company (to local detectives, the PA Attorney General, the S.E.C. and the F.B.I).

William sued Ameriquest Mortgage Company under the whistleblower provision of the Sarbanes Oxley Act of 2002. The act pertained to publicly traded companies and issuers of securities under Section 15(d) and 12h-3 of the Securities and Exchange Act of 1934.

[WJM 7]

Posted in STOP FORECLOSURE FRAUD1 Comment

Massachusetts Attorney General prolongs the pain for homeowners

Posted on 02 January 2012. Tags: 50 state settlement, attorney general, bank of america, Beau Biden, california, Catherine Cortez Masto, countrywide, criminal, delaware, employees, Eric Schneiderman, fannie mae, fhfa, FHFA OIG, foreclosure fraud, Freddie Mac, investigation, Kamala D. Harris, Lender Processing Services Inc., LPS, mail fraud, Martha Coakley, massachusetts, mbs, MERS, mortgage, mortgage backed securities, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., Nevada, new york, Refinance, settlement, Steve Linick, Trusts, U.S. Department of Labor, underwriter, wall street, whistleblower, wire fraud

WSJ-

It’s been four years since the housing bust began, and some Democrats are fighting to keep it going. That’s the message out of Massachusetts, where Attorney General Martha Coakley is layering on more uncertainty for the mortgage industry with a lawsuit that’s already driven one company to roll back its business in the state.

Ms. Coakley unveiled her case recently against Bank of America, J.P. Morgan Chase, Citigroup, GMAC Mortgage, Wells Fargo and the electronic clearinghouse Mortgage Electronic Registration System (MERS). She claims they engaged in “unfair and deceptive foreclosure practices” and “false documentation practices,” deceived borrowers about the availability of loan modifications and failed to comply with a state property-registration statute.

[WALL STREET JOURNAL]