In 2008 Prosecutors Agreed to Not Prosecute Mortgage Origination Fraud, and They Have Kept Their Promise

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In 2008 Prosecutors Agreed to Not Prosecute Mortgage Origination Fraud, and They Have Kept Their Promise

In 2008 Prosecutors Agreed to Not Prosecute Mortgage Origination Fraud, and They Have Kept Their Promise

Mortgage FlimFlam-

Do an internet search on mortgage fraud and try to find even a single case of a prosecutor going after a mortgage broker or lender for defrauding a borrower. I dare you. If you find a case please let me know. There are plenty of cases involving straw buyers and others who have defrauded the lenders but no prosecutions where the borrower was defrauded. There have been no significant prosecutions for mortgage origination fraud, yet that is the precise crime that precipitated the Great Recession and the near total collapse of the economy. The prosecutors who claim to be so tough on mortgage fraud will not touch mortgage origination fraud including predatory lending. The only explanation has to be that there were agreements orchestrated by federal prosecutors all across the country, with the concurrence of state and local prosecutors, not to prosecute mortgage origination fraud and predatory lending.

On May 20, 2009 at the signing into law of both the Helping Families Save Their Homes Act and the Fraud Enforcement and Recovery Act, President Obama said, “[a]nd that’s why this bill nearly doubles the FBI’s mortgage and financial fraud program, allowing it to better target fraud in hard-hit areas. That’s why it provides the resources necessary for other law enforcement and federal agencies, from the Department of Justice to the SEC to the Secret Service, to pursue these criminals, bring them to justice, and protect hardworking Americans affected most by these crimes. It’s also why it expands DOJ’s authority to prosecute fraud that takes place in many of the private institutions not covered under current federal bank fraud criminal statutes — institutions where more than half of all subprime mortgages came from as recently as four years ago.”

[MORTGAGE FLIMFLAM]

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6 Responses to “In 2008 Prosecutors Agreed to Not Prosecute Mortgage Origination Fraud, and They Have Kept Their Promise”

  1. The note says:

    It pains me to see so many homeowners focused on criminal prosecutions. They are happening…just not on main stream media. The number of prosecutions we want may never come. It is everyone’s responsibility to get your case into court and start fighting.
    The end of this chapter of fraud and corruption will start in the near future. A worldwide economic/real estate crash is INEVITABLE…study our economy as well as China, Germany…etc….look at the debt worldwide which will become unsustainable. Those who will be hit hardest?…lenders, pretender lenders. Sometimes consequences come in forms we never dreamed possible.
    Keep the faith.

  2. YES, Because the “FINANCIAL MELTDOWN” was planned at least two decades ago in conjunction with DOJ, as I reported it in 2004 in my lawsuit a few pages of which are herein attached.

    http://kareemsalessi.files.wordpress.com/2010/04/12-3-09-salessi-revelations-of-2008-collapse-in-2004-lawsuit1.pdf

  3. This is probably the sweetest deal ever made between banking criminals, federal prosecutor, and a federal court, amounting to the laundering of over $1/2 trillion drug money with federal help!

    However, long before this sweet deal all the drug money was laundered into Wells Fargo by simply changing all “Wachovia” names to “Wells Fargo” names!

    WACHOVIA $1/2 trillion Drug Money Laundering Blessed by U.S. Court Case# cr-20165-JAL

  4. ACTUAL LINK TO MODERN HISTORY’S GREATEST CRIME DEAL:

    WACHOVIA $1/2 trillion Drug Money Laundering Blessed by U.S. Court Case# cr-20165-JAL

  5. Apply the quoted statement below, regarding a Wachovia drug trafficker, to real estate mortgage liens of narco-banks, like Wachovia and Wells Fargo:

    ““Because the titles and tail numbers for the leased aircraft are kept in World Jet or related-parties’ names, the planes can be “repossessed” by World Jet after they have served their purpose for the narco-traffickers, or if a plane is later seized as part of a drug bust, “both parties can deny responsibility and World Jet Inc. can reclaim the aircraft as they hold the financial lien,” the DEA affidavit alleges.””

    http://narcosphere.narconews.com/notebook/bill-conroy/2014/01/dea-case-threatens-expose-us-government-sanctioned-drug-running

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