Another Conflicted Foreclosure Review: PricewaterhouseCoopers and Ally/ResCap

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Another Conflicted Foreclosure Review: PricewaterhouseCoopers and Ally/ResCap

Another Conflicted Foreclosure Review: PricewaterhouseCoopers and Ally/ResCap

Everything and everyone tied to these mortgages are a fraud!

Forbes-

One of the fundamental tenets of the “independent” foreclosure reviews of mortgage servicers ordered by the OCC and Federal Reserve Board was the independence and objectivity of the consultants. The ICs for the IFRs were supposed to determine how much harm had been inflicted on borrowers subjected to error-ridden and, in some cases, fraudulent foreclosures.

We know that Allonhill was disqualified after the reviews started. We also know that the OCC looked the other way at the blatant independence conflict when JP Morgan engaged Deloitte to review Deloitte’s former audit clients’ foreclosure failures at Bear Stearns and Washington Mutual – now owned by JPM. There was at least one more serious consultant independence issue than previously reported.

PricewaterhouseCoopers, selected to perform the “independent” foreclosure reviews for Ally/ResCap, approved by the Fed, was the ResCap independent auditor during a portion of the period covered by ResCap’s foreclosure reviews.

[FORBES]

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