Jpmorgan Chase | FORECLOSURE FRAUD | by DinSFLA

Tag Archive | "jpmorgan chase"

JPMorgan Chase Whistleblower: ‘Essentially Suicide’ To Stand Up To Bank

JPMorgan Chase Whistleblower: ‘Essentially Suicide’ To Stand Up To Bank


I hear what she’s saying about googling her name, because I can tell you there were a ton of “Linda Almonte” searches that lead to SFF.

She’s a hero to many.

HuffPO-

When Linda Almonte alerted her boss at JPMorgan Chase about potential fraud in a major deal she was helping to close, she expected him to applaud her great catch.

Instead, he fired her.

“We went down fast,” said Almonte, 41, about her family. She had been making $100,000 a year as a division vice president at Chase, enough to support her stay-at-home husband, their four kids, ages 12 to 22, and rent a three-bedroom house in San Antonio, Texas.

Her move at Chase amounted to “essentially suicide,” Almonte told The Huffington Post. No bank in town would hire her after word spread that she had stood up to the banking giant, she said. After more than a year of fruitless job hunting, Almonte and her family left town, landing at a hotel near Disney World, paying $300 a week for a two-bedroom with a kitchenette.

[HUFFINGTON POST]

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Soldier’s foreclosure was illegal, federal lawsuit alleges

Soldier’s foreclosure was illegal, federal lawsuit alleges


Star Tribune-

Army Staff Sgt. Phillip Harry learned his house had been foreclosed upon and sold in a letter forwarded to him while he was serving in Iraq.

Harry, a member of the Minnesota National Guard, filed suit on Friday against his mortgage company, alleging the company violated a federal law protecting service members from losing their homes while they are deployed.

Reflecting a convergence of two major social issues: the home foreclosure crisis and the return of thousands of members of the military from Iraq and Afghanistan, attorneys for Harry are seeking to have the suit certified as a class action, saying hundreds of service members are likely to have faced the same situation.

The U.S. Treasury launched an investigation last year into 10 leading banks that may have illegally foreclosed on the mortgages of almost 5,000 members of the U.S. military, some of them activated to duty in Iraq and Afghanistan.

The suit filed in U.S. District Court in Minnesota accuses Illinois-based HSBC Mortgage Services of violations of the Servicemembers Civil Relief Act, signed into law in 2003 as a way of easing the economic and legal burdens on military personnel called to service.

[STAR TRIBUNE]

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The Bankers’ Subversion of the Rule of Law, Notary and Land Records edition

The Bankers’ Subversion of the Rule of Law, Notary and Land Records edition


Abigail C. Filed-

Hi

For the next couple of weeks, I’m one of the David Dayen subs at FireDogLake–no one person could fill his shoes–and this post ran there earlier today. This version is slightly updated but essentially the same.

One way to see the double standard at the heart of the foreclosure fraud—one set of laws for the bailed out banks, one for the rest of us—is to focus on the role of notaries public, and then consider that role in light of what our Supreme Court said about notaries in 1984, in a case called Bernal v. Fainter, Secretary of State of Texas.

First, let’s recap the role of notaries in the foreclosure fraud crisis: Notaries are the people who verify that someone actually is who they say they are when that person signs a document. Because banks and their agents industrialized “Document Execution” as part of their foreclosure business model, notaries did not do their jobs. Notaries’ failure to verify identities has been so complete that many people will sign as one person, say, “Linda Green.” Notaries have also been told to sign documents using one name, and then notarize their own “surrogate” signature. “Well, what’s the big deal?” bank defenders say. Beyond the fact that there’s no “business convenience” exception to following the rule of law, consider Bernal.

Bernal involved Texas’s requirement that all notaries be citizens; lawful permanent resident aliens need not apply. Bernal challenged the Constitutionality for the citizenship requirement. To rule on the question, the Court had to consider what notaries did, and whether or not what notaries did was so political, so central to representative democracy, that limiting being a notary to citizens was rational. In finding that notaries were important but not political officers of the state, the Court made some observations of note.

[REALITY CHECK]

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Angry priest pulls church money out of Bank of America, Joins a nationwide interfaith movement

Angry priest pulls church money out of Bank of America, Joins a nationwide interfaith movement


The Edge-

Father Robert Rien, of St Ignatius at Antioch, a Catholic church east of San Francisco, speaks with a crisp buoyant voice that belies his 65 years. When he is angry it fairly crackles.

This Lenten season he is angry at America’s big banks, so angry he has pulled all his parish’s money out of the Bank of America and opened accounts at a small local bank.

He has called on his flock to do the same and joined a nationwide interfaith movement dedicated to divesting from the major banks. They see Lent as the perfect time to spread the word.

”We have a mandate from the gospels to act,” says Father Rien.

”Jesus went to the temple and he challenged the banking system of his day. He said, ‘you are thieves and marauders, you are wrong in what you are doing’.” On Ash Wednesday this year a group of San Francisco clergy spilled ashes outside a Wells Fargo ATM and called for a foreclosure sabbatical, invoking the Biblical term for the ancient practice of forgiving debts.

Read more: http://www.theage.com.au

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Churches Moving Money Out Of Big Banks In Protest Of Foreclosure Actions

Churches Moving Money Out Of Big Banks In Protest Of Foreclosure Actions


HuffPO-

For lent this year, some will inevitably give up the usual guilty pleasures like chocolate or meat. More than a few churches are taking a decidedly different approach.

About 25 churches have withdrawn $16 million from big banks such as Wells Fargo, Bank of America and JPMorgan Chase as part of a Lent-themed protest against the banks’ foreclosure actions, The New York Times reports, citing PICO National Network, a social justice coalition of churches that’s leading the charge. Individual members and organizational partners have also taken out an additional $15 million.

The demonstration, which started on Ash Wednesday, aims to protest “the injustice that still dominates the banking industry in this country, unmasking corporate greed and dishonesty that is destroying our families,” Ryan J. Bell, senior pastor Hollywood Seventh Day Adventist Church, wrote in a blog for The Huffington Post last month.

[HUFFINGTON POST]

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Richard (RJ) Eskow: While Jamie Dimon Gently Weeps, Another “Big Stick” Bank Attack on Democracy

Richard (RJ) Eskow: While Jamie Dimon Gently Weeps, Another “Big Stick” Bank Attack on Democracy


HuffPO-

He’s at again – and we’re glad. A lot of smart people are dedicating their lives to fighting the corrosive effect of Wall Street on our economy and our democracy, but the best spokesman for that cause comes from Wall Street itself.

JPMorgan Chase CEO Jamie Dimon is still the poster child for today’s morally degraded, self-entitled banker mentality. I don’t know why he keeps talking, but he’s the gift that keeps on giving.

At every major junction in the post-crisis debate about banking, Dimon has stepped in with a perfectly tactless remark that illustrates both the vacuity and the moral corruption of his industry. This week was no exception.

JPM: CSI

Dimon’s own bank is the perfect case study in

[HUFFINGTON POST]

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ELSTON / LEETSDALE vs CWCAPITAL | FL 4DCA “did not file any evidence, affidavits or other documents, supporting…it was authorized …on behalf of the trust”

ELSTON / LEETSDALE vs CWCAPITAL | FL 4DCA “did not file any evidence, affidavits or other documents, supporting…it was authorized …on behalf of the trust”


DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA
FOURTH DISTRICT

January Term 2012

ELSTON/LEETSDALE, LLC, a Delaware limited liability company,
Appellant,

v.

CWCAPITAL ASSET MANAGEMENT LLC, solely in its capacity as
Special Servicer on behalf of U.S. BANK, N.A., Successor to STATE
STREET BANK AND TRUST COMPANY, as Trustee for the registered
holders of J.P. MORGAN CHASE COMMERCIAL MORTGAGE
SECURITIES CORP., MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES 2001-C1BC1,
Appellee.

No. 4D11-3151

[April 4, 2012]

POLEN, J.

Elston/Leetsdale, LLC (Elston) appeals the trial court’s non-final
order, requiring it to make payments to CWCapital Asset Management
LLC, solely in its capacity as special servicer on behalf of U.S. Bank,
N.A., successor to State Street Bank and Trust Company, as trustee for
the Registered Holders of J.P. Morgan Chase Commercial Mortgage
Securities Corp., Mortgage Pass-Through Certificates, Series 2001-
C1BC1 (CW) during the pendency of the action. Because CW did not
properly plead standing, we reverse.

The facts are as follows. Elston executed a promissory note as
evidence of a loan made by First Union National Bank; to secure
payment, Elston executed a mortgage and security agreement, along with
an assignment of leases and rents. First Union assigned its rights in the
loan documents to Morgan Guaranty Trust Company of New York, which
then assigned its right, title and interest in the loan to State Street Bank
and Trust Company, as Trustee for J.P. Morgan Chase Commercial
Mortgage Securities Corp., Series 2001-C1BC1 (the trust). Presently, the
trust is the current owner and holder of all the loan documents subject
to this appeal.

CW, the special servicer for the trust, filed a verified complaint, in its
own name, for foreclosure. The complaint alleged that Elston defaulted
on the loan, and the trust elected to accelerate and declare immediately
due and owing the entire unpaid principal balance together with accrued
interest. In response to CW’s motions, the trial court ordered Elston to
show cause as to why payments should not b e ma d e during the
pendency of the foreclosure action. Elston then moved to dismiss the
complaint, arguing that CW failed to properly allege standing to pursue
enforcement of the security instruments. CW argued that it had
standing to bring the foreclosure action because it is duly authorized by
the trust to do so and, as special servicer for the loan, it is entitled to
take all required action to protect the interests of the trust. After a
hearing,1 the trial court entered a payment order, requiring Elston to pay
CW $42,404.91 per month during the pendency of the action. This
appeal followed.

Elston argues that the trial court erred b y ordering it to make
payments to CW because CW failed to properly allege standing. CW
argues that Elston has not furnished a sufficient record for this court to
review the trial court’s ruling.2 On the merits, CW argues that, as agent
and special servicer to the trust, which owns the loan documents at
issue, it has standing to foreclose.

“Whether a party is the proper party with standing to bring an action
is a question of law to be reviewed de novo.” FCD Dev., LLC v. S. Fla.
Sports Comm., Inc., 37 So. 3d 905, 909 (Fla. 4th DCA 2010) (quoting
Westport Recovery Corp. v. Midas, 954 So. 2d 750, 752 (Fla. 4th DCA
2007)).

Every action may be prosecuted in the name of the real party
in interest, but a personal representative, administrator,
guardian, trustee of an express trust, a party with whom or
in whose name a contract has been made for the benefit of
another, or a party expressly authorized by statute may sue
in that person’s own name without joining the party for
whose benefit the action is brought.

Fla. R. Civ. P. 1.210(a). “In its broadest sense, standing is no more than
having, or representing one who has, ‘a sufficient stake in an otherwise
justiciable controversy to obtain judicial resolution of that controversy.’”
Kumar Corp. v. Nopal Lines, Ltd., 462 So. 2d 1178, 1182 (Fla. 3d DCA
1985) (quoting Sierra Club v. Morton, 405 U.S. 727, 731 (1972)).

In the mortgage foreclosure context, “standing is broader than just
actual ownership of the beneficial interest in the note.” Mortgage Elec.
Registration Sys., Inc. v. Azize, 965 So. 2d 151, 153 (Fla. 2d DCA 2007).
“The Florida real party in interest rule, Fla. R. Civ. P. 1.210(a), permits
an action to be prosecuted in the name of someone other than, but
acting for, the real party in interest.” Id. (quoting Kumar, 462 So. 2d at
1183). “Thus, where a plaintiff is either the real party in interest or is
maintaining the action on behalf of the real party in interest, its action
cannot be terminated on the ground that it lacks standing.” Kumar, 462
So. 2d at 1183. See also BAC Funding Consortium Inc. ISAOA/ATIMA v.
Jean-Jacques, 28 So. 3d 936, 938 (Fla. 2d DCA 2010) (“The proper party
with standing to foreclose a note and/or mortgage is the holder of the
note and mortgage or the holder’s representative.”).

In securitization cases, a servicer may b e considered a party in
interest to commence legal action as long as the trustee joins or
ratifies its action. In re Rosenberg, 414 B.R. 826, 842 (Bankr. S.D. Fla.
2009) (emphasis added). In CWCapital Asset Management, LLC v.
Chicago Properties, LLC, 610 F.3d 497 (7th Cir. 2010), the Seventh
Circuit found that CW, as a special servicer to a loan, had standing to
bring an action in its own name against a mortgagor and landlord for
money paid by a tenant in settlement of a suit for unpaid rent. Id. at
499-500. Significantly, however, in opposition to the defendant’s motion
for judgment on the pleadings (based on CW’s lack of standing), CW filed
an affidavit of the trustee, which was not contradicted, ratifying the
servicer’s (CW’S) commencement of the lawsuit. Id. at 502 (emphasis
added). Additionally, the pooling and servicing agreement was placed in
evidence as additional evidence that CW’s principal granted CW authority
to enforce the debt instruments that CW neither owned nor held. Id. at
501.

In Juega v. Davidson, 8 So. 3d 488 (Fla. 3d DCA 2009), relied on by
the trial court, the Third District reversed an order of dismissal for lack
of standing, finding that because the plaintiff was an agent who had been
granted full authority to act for the real party in interest, there was no
violation of rule 1.210(a). Id. at 489. However, in Juega, there was
evidence in the trial court that the agent/plaintiff had been granted full
authority to act on the real party in interest’s behalf: The real party in
interest filed an affidavit in opposition to the motion to dismiss for lack of
standing, averring that Juega was pursuing the litigation for the real
party in interest’s benefit and ratifying all actions taken by Juega since
the inception of the lawsuit. Id. at 489. Finding the affidavit filed by the
real party in interest to be indistinguishable from the affidavit filed by the
principal in Kumar, the Third District held that “the facts stated in [the
affidavit] establish that the agent, Juega, has standing.” Id. at 490
(emphasis added).

Here, the caption of the verified complaint states that the underlying
action is brought by CW “solely in its capacity as special servicer on
behalf of U.S. Bank, N.A.” In the complaint, CW alleges, and verifies as
true, that it “has been and is duly authorized by the Trust to prosecute
this action as agent and special servicer for the Trust.” However, CW did
not file any evidence, affidavits or other documents, supporting its
allegation that it was authorized to prosecute the action on behalf of the
trust, as was done in Kumar, Juega and Chicago Properties. Although
CW’s complaint is verified, it is verified by the “SVP” for CW – not by the
real party in interest, the trust. CW relies on nothing more than its own
allegations and affidavit to support its argument that it has standing to
sue on behalf of the trust. This is insufficient evidence to prove that it is
authorized to sue on the trust’s behalf.

We affirm on the other issue raised by Elston, as we find that the trial
court properly determined that CW was not required to register as a
commercial collection agency or as a licensed mortgage broker under
Chapters 559 and 494, Florida Statutes.

Reversed and Remanded.

TAYLOR and HAZOURI, JJ., concur.
* *

[ipaper docId=88060508 access_key=key-1zi7bzuhrs7m5kl811n5 height=600 width=600 /]

 

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Onewest Bank v Cumberbatch | NYSC “failed to offer any evidence to demonstrate the establishment of a FDIC receivership in connection with IndyMac Bank, F.S.B.”

Onewest Bank v Cumberbatch | NYSC “failed to offer any evidence to demonstrate the establishment of a FDIC receivership in connection with IndyMac Bank, F.S.B.”


NEW YORK SUPREME COURT – QUEENS COUNTY

ONEWEST BANK, FSB as successor in
Interest to INDYMAC BANK, FSB
Plaintiff,

-against-

KATHLEEN CUMBERBATCH,
Defendant.

EXCERPT:

A plaintiff establishes that it has standing where it demonstrates that it is both the
holder or assignee of the subject mortgage and the holder or assignee of the underlying note
(see Bank of N.Y. v Silverberg, 86 AD3d 274 [2011]; U.S. Bank, N.A. v Collymore,
68 AD3d 752 [2011]).

The subject mortgage names IndyMac Bank, F.S.B. as the lender,3 and the note is
made payable to IndyMac Bank, F.S.B. and does not bear any endorsement. Plaintiff
OneWest alleged in its complaint, and when seeking the judgment, that it is the “holder” of
the subject mortgage and underlying note. It makes no claim that it is a holder of the subject
mortgage and note based upon the assignment4 offered by defendant Cumberbatch in support
of her motion. Rather, plaintiff OneWest asserts that IndyMac Bank, F.S.B. went into
receivership and the Federal Deposit Insurance Corporation (FDIC), as receiver, transferred
the assets of IndyMac Bank, F.S.B. to IndyMac Federal Bank, FSB on July 11, 2008.

Plaintiff OneWest also asserts that all assets of IndyMac Federal Bank, FSB, including the
subject note, thereafter were sold on March 19, 2009 to OneWest.

Plaintiff OneWest, however, has failed to offer any evidence to demonstrate the
establishment of a FDIC receivership in connection with IndyMac Bank, F.S.B., the note was
part of the assets of such FDIC receivership, or the FDIC, as receiver, transferred such assets
to IndyMac Federal Bank, FSB. Furthermore, the copy of the bill of sale presented by
plaintiff OneWest indicates that the FDIC, as receiver of IndyMac Federal Bank, FSB, sold
only those “Assets,” as defined in a “Servicing Business Asset Purchase Agreement” dated
March 19, 2009, to OneWest. Plaintiff OneWest has not presented evidence of the
establishment of an FDIC receivership in connection with IndyMac Federal Bank, FSB, or
a copy of the March 19, 2009 agreement (or relevant parts thereof), to show the subject note
was one of the assets sold to OneWest. Nor has plaintiff OneWest presented any evidence
that it was in physical possession of the note at the time of the commencement of the action
and the note was endorsed in its favor or in blank (see UCC § 1-201[20] [“ ‘[h]older’ means
a person who is in possession of a document of title or an instrument or an investment
certificated security drawn, issued or indorsed to him or to his order or to bearer or in
blank”]). Under these circumstances, defendant Cumberbatch has presented a possible
meritorious defense based upon lack of standing (see generally Bank of N.Y. v Silverberg,
86 AD3d 274 [2011]; U.S. Bank, N.A. v Adrian Collymore, 68 AD3d 752 [2009]).

[…]

[ipaper docId=87906988 access_key=key-ktxoawq9wfn7mmgct6h height=600 width=600 /]

 

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Review Finds Possible Flaws in More Than 138,000 Bank Foreclosures

Review Finds Possible Flaws in More Than 138,000 Bank Foreclosures


Not this word again “Flaw”…it’s FULL   B L O W N   FRAUD!

Why wasn’t this review done prior to any settlement? Because they never began any investigation.

DealBook-

The nation’s biggest banks may have put the huge $25 billion settlement over bad foreclosure practices behind them, but that doesn’t mean their mortgage troubles are over.

A separate review — this time by independent consultants on behalf of the Office of the Comptroller of the Currency — flagged more than 138,000 cases for possible flaws in the foreclosure process at the nation’s largest mortgage servicers. Those include foreclosures involved with the so-called robo-signing scandal, in which bank representatives churned through hundreds of documents a day in foreclosure proceedings without reviewing them for accuracy.

[DEALBOOK]

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Read Memo: Ex-MF Global official: Corzine approved $200 million money transfer from a JPMorgan account

Read Memo: Ex-MF Global official: Corzine approved $200 million money transfer from a JPMorgan account


‘I simply do not know where the money is, or why the accounts have not been reconciled to date,’ he told the House Agriculture Committee. (pg.18)

Reuters-

* Memo alleges Corzine authorized transfer from customer account

* MF Global employee wrote email alleging Corzine OK’d transfer-memo

* MF Global employee, Edith O’Brien, to testify before Congress next week

* Corzine spokesman denies allegation

* Corzine, O’Brien not accused of wrongdoing

By Alexandra Alper and Ann Saphir

WASHINGTON, March 23 (Reuters) – Former MF Global official Edith O’Brien said in an October 2011 email that CEO Jon Corzine gave “direct instructions” to transfer $200 million from a customer account to cover an overdraft in a JPMorgan account in London, according to a congressional memo released on Friday.

Steven Goldberg, a spokesman for Corzine, noted that Corzine did ask that the JPMorgan overdraft be corrected, but never gave any instructions to misuse customer funds.

[REUTERS]

[ipaper docId=86534932 access_key=key-13ybgs9umblb7g43m724 height=600 width=600 /]

image credit: AFP/Getty Images

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Steven J. Baum settles with NY AG Schneiderman; will pay $4M

Steven J. Baum settles with NY AG Schneiderman; will pay $4M


What about the rest? This is an insult!

Update: Pillar Processing is also part of this settlement.

Buffalo Business First-

The case of embattled foreclosure attorney Steven Baum has taken another turn as the Amherst attorney reached a settlement with the New York State Attorney General over charges his firm mishandled foreclosure filings statewide over many years.

Under terms of the agreement, Baum has agreed not to handle mortgages for two years and will pay a penalty of $4 million.

The deal with Attorney General Eric Schneiderman’s office comes five month after the firm settled with the United States Attorney for the Southern District and paid $2 million while agreeing to drastically overhaul its business practices.

[BUFFALO BUSINESS FIRST]

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Did Chase (or Chase’s lawyer) fake foreclosure evidence AFTER doing the deal w/ Fed & State law enforcers? You decide:

Did Chase (or Chase’s lawyer) fake foreclosure evidence AFTER doing the deal w/ Fed & State law enforcers? You decide:


Thanks to Abigail Field for the title post and thank you to Joe over at BP Investigative Agency for this submission.

According to a Handwriting Expert… yes, documents were forged and altered.

As if Breaking and Entering weren’t enough, add forgery to the lengths JP Morgan Chase will go to take a home.

When foreclosure proceedings began on William Paatalo’s  Montana property in  January 2010, he, like many homeowners, felt emotionally drained and devastated. “ I couldn’t believe how I got to this place.  I had perfect credit in 2008.  I was making payments on three properties through Washington Mutual, but they began to misapply payments to the wrong accounts and even turned off my ‘auto-pay’ feature in an attempt to sabotage my credit and spin me into default.”

  By the time Paatalo discovered the error, his credit had tanked and things started spiraling downward. “It was brutal. My business lines of credit were shut down, and I couldn’t access any of my lines of credit ; WAMU was slow to acknowledge the problem; the credit agencies ignored me; and then I got the foreclosure notices.  It was a living hell. I spent a lot time being angry. “

In the end, Paatalo did what many home owners  are now doing.  He started pushing back.  “I didn’t want to just roll over.  I figured I still had some rights, so I began the painstaking process of researching my loan in hopes I could modify or delay the action.  The Trustee’s sale wasn’t   scheduled until June, so I figured I had a little bit of time to rectify the situation.”

But unbeknownst to Paatalo, Chase, who had acquired WAMU in 2008, took early action.  In March, they broke into his home, changed all the locks, and stole property, including  personal documents and a handgun.  “I was out of town, and when I found out what they had done I was outraged.” 

Paatalo filed a criminal complaint and took additional action. However, law enforcement sat idle as it was perceived to be a “civil matter.”  Tired of being victimized, he began investigating practices in the mortgage industry and uncovered much of what is now known.  In October of 2010 he filed suit against JP Morgan Chase pro se and has been litigating since then. 

But his case, scheduled for trial in September, took a bizarre turn recently.  “I was reading about the class action suit in California Bakenie v. JPMorgan Chase Bank  and I got to wondering if my note might’ve been forged.  So I got a color copy of the note, and in my office I magnified the signatures 800 fold.”

What he found was astounding.  Even to the layman’s eye, the signatures appeared to have been photo-shopped.  In one instance, even the signature line was colored blue.  “I couldn’t believe what I was seeing.  It looked like something a high school kid did. 

 Paatalo sent the document to Dr. Laurie Hoeltzel  in southern California;  a handwriting / document expert with over 20 years of experience.  Her findings verified what Paatalo suspected, the documents had indeed been forged.  “All along Chase has argued on record they hold the note.  Clearly, they do not.  It’s one thing to claim the note entitles them to foreclose, it’s another to commit a felonious act to illegally take a home they are not entitled to.  It’s absolutely appalling.  This is no longer a civil dispute.”

 Paatalo intends to file a criminal complaint against Chase, along with formal Bar complaints against their attorneys . The expert declaration is now in the hands of Montana’s Federal Magistrate Judge Carolyn  Ostby.   How this new information plays out in court is yet to be determined, but Paatalo is sure of one thing.  “Nothing these banks do surprises me anymore.  I can only hope our judicial system has the backbone to hold these people accountable.”

 Addendum:  Paatalo notified Chase of his discovery last week and was attempting to have the evidence surrendered to the court and sequestered.  After all, attorneys have a duty to uphold justice and refrain from assisting in fraud. He was notified today by Chase’s attorney that the documents had been removed from Butte, Montana and are now in Minneapolis, Minnesota.  Paatalo has objected to the transferring of the documents, and Chase’s attempts to withhold evidence of a crime.


Read the handwriting expert’s affidavit below begin at page 5…

[ipaper docId=86007729 access_key=key-2fuvvomrypzyggrt999p height=600 width=600 /]

 

 

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Linda Almonte | How a Whistleblower Halted JPMorgan Chase’s Card Collections

Linda Almonte | How a Whistleblower Halted JPMorgan Chase’s Card Collections


American Banker-

No sooner did Linda Almonte show up for work on November 30, 2009 than was she escorted out the door by security at JPMorgan Chase’s Credit Card Litigation Support Group in San Antonio. A midlevel Chase executive who oversaw business process execution employees, Almonte says she was fired after just six months on the job for challenging her superiors about the accuracy of the bank’s credit card records.

Colleagues first learned of her dismissal later in the day when operations manager Jason Lazinbat, Almonte’s former boss, gathered bank staff in a conference room and announced she was no longer with the bank. Under no circumstances, Lazinbat warned, were staffers to communicate with Almonte, recalls Carole McGinn, a quality control worker who spent 14 years at Chase. The account was confirmed by second employee, who requested to speak anonymously.

[AMERICAN BANKER]

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Anonymous JPMorgan whistleblower tells CFTC JPM manipulates the silver market & conspires in manipulating gold:

Anonymous JPMorgan whistleblower tells CFTC JPM manipulates the silver market & conspires in manipulating gold:


NOTE: The original from the CFTC site has been deleted in full

H/T to Abigail Field for this

Fresh off the CFTC site as follows:

From: Z A N
Organization(s):
JPMorgan Chase

Comment No: 57019
Date: 3/14/2012

Comment Text:

Dear CFTC Staff,

Hello, I am a current JPMorgan Chase employee. This is an open letter to all commissioners and regulators. I am emailing you today b/c I know of insider information that will be damning at best for JPMorgan Chase. I have decided to play the role of whistleblower b/c I no longer have faith and belief that what we are doing for society is bringing value to people. I am now under the opinion that we are actually putting hard working Americans unaware of what lays ahead at extreme market risk. This risk is unnecessary and will lead to wide-scale market collapse if not handled properly. With the release of Mr. Smith’s open letter to Goldman, I too would like to set the record straight for JPM as well. I have seen the disruptive behavior of superiors and no longer can say that I look up to employees at the ED/MD level here at JPM. Their smug exuberance and arrogance permeates the air just as pungently as rotting vegetables. They all know too well of the backdoor crony connections they share intimately with elected officials and with other institutions. It is apparent in everything they do, from the meager attempts to manipulate LIBOR, therefore controlling how almost all derivatives are priced to the inherit and fraudulent commodities manipulation. They too may have one day stood for something in the past in the client-employee relationship. Does anyone in today’s market really care about the protection of their client? From the ruthless and scandalous treatment of MF Global client asset funds to the excessive bonuses paid by companies with burgeoning liabilities. Yes, we at JPMorgan that are in the know are fearful of a cascading credit event being triggered in Greece as they have hidden derivatives in excess of $1 Trillion USD. We at JPMorgan own enough of these through counterparty risk and outright prop trading that our entire IB EDG space could be annihilated within a few short days. The last ten years has been market by inflexion point after inflexion point with the most notable coming in 2008 after the acquisition of Bear.

I wish to remain anonymous as of now as fear of termination mounts from what I am about to reveal. Robert Gottlieb is not my real name; however he is a trader that is involved in a lawsuit for manipulative trading while working with JPMorgan Chase. He was acquired during our Bear Stearns acquisition and is known to be the notorious person shorting in the silver future market from his trading space, along with Blythe Masters, his IB Global boss. However, with that said, we are manipulating the silver futures market and playing a smaller (but still massively manipulative) role in manipulating the gold futures market. We have a little over a 25% (give or take a percentage) position in the short market for silver futures and by your definition this denotes a larger position than for speculative purposes or for hedging and is beyond the line of manipulation.

On a side note, I do not work directly with accounts that would have been directly impacted by the MF Global fiasco but I have heard through other colleagues that we have involvement in the hiding of client assets from MF Global. This is another fraudulent effort on our part and constitutes theft. I urge you to forward that part of the investigation on to the respective authorities.

There is something else that you may find strange. During month-end December, we were all told by our managers that this was going to be a dismal year in terms of earnings and that we should not expect any bonuses or pay raises. Then come mid-late January it is made known that everyone received a pay raise and/or bonus, which is interesting b/c just a few weeks ago we were told that this was not likely and expected to be paid nothing in addition to base salary. January is right around the time we started increasing our short positions quite significantly again and this most recent crash in gold and silver during Bernanke’s speech on February 29th is of notable importance, as we along with 4 other major institutions, orchestrated the violent $100 drop in Gold and subsequent drops in silver.

As regulators of the free people of this country, I ask you to uphold the most important job in the world right now. That job is judge and overseer of all that is justice in the most sensitive of commodity markets. There are many middle-income people that invest in the physical assets of silver, gold, as well as mining stocks that are being financially impacted in a negative way b/c of our unscrupulous shorts in the precious metals commodity sector. If you read the COT with intent you will find that commercials (even though we have no business being in the commercial sector, which should be reserved for companies that truly produce the metal) are net short by a long shot in not only silver, but gold.

It is rather surprising that what should be well known liabilities on our balance sheet have not erupted into wider scale scrutinization. I call all honest and courageous JPMorgan employees to step up and fight the cronyism and wide-scale manipulation by reporting the truth. We are only helping reality come to light therefore allowing a real valuation of our banking industry which will give investors a chance to properly adjust without being totally wiped out. I will be contacting a lawyer shortly about this matter, as I believe no other whistleblower at JPMorgan has come forward yet. Our deepest secrets lie within the hands of honest employees and can be revealed through honest regulators that are willing to take a look inside one of America’s best kept secrets. Please do not allow this to turn into another Enron.

Kind Regards,
-The 1st Whistleblower of Many


[CFTC]

 

 

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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OCC Probing JPMorgan Chase Credit Card Collections

OCC Probing JPMorgan Chase Credit Card Collections


:) Credit Cards WILL BE the NEXT robo-signing scandal! :)

American Banker-

JPMorgan Chase & Co. took procedural shortcuts and used faulty account records in suing tens of thousands of delinquent credit card borrowers for at least two years, current and former employees say.

The process flaws sparked a regulatory probe by the Office of the Comptroller of the Currency and forced the bank to stop suing delinquent borrowers altogether last year.

The bank’s errors could call into question the legitimacy of billions of dollars in outstanding claims against debtors and of legal judgments Chase has already won, current and former Chase employees say.

For the banking industry at large, the situation at Chase highlights the risk that shoddy back-office procedures and flawed legal work extends well beyond mortgage servicing.

“We did not verify a single one” of the affidavits attesting to the amounts Chase was seeking to collect, says Howard Hardin, who oversaw a team handling tens of thousands of Chase debt files in San Antonio. “We were told [by superiors] ‘We’re in a hurry. Go ahead and sign them.'”

[AMERICAN BANKER]

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Whistleblowers reap millions in U.S. mortgage suits

Whistleblowers reap millions in U.S. mortgage suits


Reuters-

Troubled homeowners are not the only ones set to get a financial lift from the U.S. government’s $25 billion landmark mortgage settlement.

Whistleblowers who were instrumental in revealing epidemic mortgage abuses, some of whom risked their careers to do so, are getting multi-million-dollar payouts, court documents show.

Victor Bibby and Brian Donnelly, two Georgia mortgage brokers, are among the handful of whistleblowers whose stories are coming into focus.

Bibby and Donnelly said they started noticing in 2005 that lenders were charging veterans hidden fees on mortgage refinancing – a violation of the government’s Interest Rate Reduction Refinancing Loans program.

[REUTERS]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Calling All Whistleblowers: PLEASE, Your Country Needs You

Calling All Whistleblowers: PLEASE, Your Country Needs You


Abigail Field-

Everyday brings more proof the Bailed-Out Bankers (those B.O.Bs) are running our country to their liking. Exhibit A: the Obama Administration, the B.O.Bs and the rest of state and federal law enforcement agree to violate contracts so taxpayers, pension funds, 401ks and other investors can pay for the B.O.B.s misdeeds. So what’s an American to do to reclaim her country?

Well, if you work for the B.O.Bs and are in a position to witness banker wrongdoing, tell law enforcers. You know, like the anti-terrorism ads say: If you see something, say something.

Perhaps you know your B.O.B bosses are ripping people off by lying about the bank’s borrowing costs; perhaps you know your B.O.B. bosses are systematically ripping off our government via the HAMP program, via inflated appraisals for FHFA insured mortgages; or perhaps, like whistleblower Linda Almonte, your B.O.B. bosses demanded that you participate in their fraud.

[REALITY CHECK]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Abigail Field: Insider Says Promontory’s OCC Foreclosure Reviews for Wells are Frauds. Brought to You by HUD Sec. Donovan

Abigail Field: Insider Says Promontory’s OCC Foreclosure Reviews for Wells are Frauds. Brought to You by HUD Sec. Donovan


If anyone can set the record straight, Abigail is just the person to do it!

Naked Cap-

U.S. Housing Secretary Shaun Donovan has embarrassed himself yet again. This time, though, he’s gone in for total humiliation. See, he praised the bank-run Office of the Comptroller of the Currency’s (OCC) foreclosure reviews as an important part of the social justice delivered by the mortgage “settlement“. But thanks to an insider working on an OCC review, we know that process is a sham. Worse, the insider’s story shows that enforcement of the settlement is likely to be similar, which is to say, meaningless. Doesn’t matter how pretty the new servicing standards are if the bankers don’t have to follow them.

Let’s start with Donovan’s sales pitch for the OCC reviews:

For families who suffered much deeper harmwho may have been improperly foreclosed on and lost their homes and could therefore be owed hundreds of thousands of dollars in damages — the settlement preserves their ability to get justice in two key ways.

First, it recognizes that the federal banking regulators have established a process through which these families can receive help by requesting a review of their file. [ACF: That’s the OCC process] If a borrower can document that they were improperly foreclosed on, they can receive every cent of the compensation they are entitled to through that process.

Second, the agreement preserves the right of homeowners to take their servicer to court. Indeed, if banks or other financial institutions broke the law or treated the families they served unfairly, they should pay the price — and with this settlement they will. [bold throughout mine]

Now, the justice of the settlement has been debunked many times over. And David Dayen debunks Donovan’s OCC pitch here. What’s important is that Bank Housing Secretary Donovan wants you to believe the Wells Fargo OCC process is a meaningful contribution to holding bankers accountable and compensating victims.

Wells Fargo’s Fraudulent OCC ‘Independent’ Foreclosure Reviews

[NAKED CAPITALISM]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Insider Says Wells Fargo’s Independent Foreclosure Review for OCC is “a Sham” – Mandelman Matters

Insider Says Wells Fargo’s Independent Foreclosure Review for OCC is “a Sham” – Mandelman Matters


I got an email the other night from one of my readers.  It said…

 

“I was hired as one of those “Independent File Review Specialist” at a company called Promontory working on Wells Fargo Bank. I have 15 years industry experience in all facets of the mortgage & title industry, and just needed a job at the moment.  I must say the whole project is a mess, and a terrible joke on the victims of foreclosure and the American people. It’s a total sham.”

 

No kidding, I said to myself.  Or, as Yves Smith would say… “Quelle surprise.”  The email continued…

 

“I have found errors that should be moved up through the ranks, but am told “quit digging so deep”…”put your shovel away”…Focus on the questions “in scope”… The review forms are set up so no harm could ever be found. It’s equivalent of an attorney presenting his case to a judge with just 20% of the evidence.”

 

Well, that can’t be good, right?  He went on…

 

“I would also like to mention that I was brought in through a temp agency…..some of the people brought in with me do not know the difference between a truth in lending statement, and a note. It’s a shame, these are your reviewers!!! The supervisors don’t want any trouble…they are mostly temps too, just trying to get a promotion to full time. Does this sound like a fair and impartial review to you? Since we’re temps I suppose that’s impartial, not to mention they made us “affiant notaries” so we can so-called “notarize each others reviews.”

 

Doesn’t sound “fair and impartial” in the least, now does it?  But I do like the ability to notarize each other’s reviews.  That sounds handier than a pocket on a man’s shirt.  He closed by saying…

 

“The foreclosed victims don’t realize if they do not provide specific dates on the intake forms… their complaints are considered “general comments” out of scope. They should specifically ask for a “full file review” and hopefully their info has not been scrubbed or purged… I could go on and on, but I just felt I needed to share this.”

 

And in my opinion, you’ve done a very good thing.

 

Our insider says he was hired by Promontory Compliance Solutions, LLC to do work on the Independent Foreclosure Review for Wells Fargo Bank.  The company’s Website describes itself as follows:

 

Promontory excels at helping financial companies grapple with and resolve critical issues, particularly those with a regulatory dimension. Taken as a whole, Promontory professionals have unparalleled regulatory credibility and insight, and we provide our clients with frank, proactive advice informed by evolving best practices and regulatory expectations.

Promontory is a leading strategy, risk management and regulatory compliance consulting firm focusing primarily on the financial services industry. Led by our Founder and CEO, Eugene A. Ludwig, former U.S. Comptroller of the Currency, our professionals have deep and varied expertise gained through decades of experience as senior leaders of regulatory bodies, financial institutions and Fortune 100 corporations. 

 [Continue to Mandelman Matters] it gets much better!

.

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Banks face crisis in bungled commercial mortgages

Banks face crisis in bungled commercial mortgages


Oh yes, MERS is in this rabbit hole as well: From a 10/10 post EXCLUSIVE | NYSC COMMERCIAL (CMBS), MERS and a $65 MILLION NOTE

If this doesn’t do them in then look for the Next Robo-Signing Scandal: RePOST: CHASE BANK v. GERGIS | NY Civ. Court “ROBO-TESTIMONY, WAMU, CREDIT-CARD DEBT” Dismissed w/ PREJUDICE

Either way the banks are screwed on these as well.

CBS-

The nation’s banks are looking at a robo-signing problem with commercial real estate which may dwarf the one for home mortgages, according to a new study.

Research by Harbinger Analytics Group shows the widespread use of inaccurate, fraudulent documents for land title underwriting of commercial real estate financing. According to the report:

This fraud is accomplished through inaccurate and incomplete filings of statutorily required records (commercial land title surveys detailing physical boundaries, encumbrances, encroachments, etc.) on commercial properties in California, many other western states and possibly throughout most of the United States.

[CBS NEWS]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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KaBOOM! Lehman Brothers Subpoenas Treasury Secretary Tim Geithner In JP Morgan Fight

KaBOOM! Lehman Brothers Subpoenas Treasury Secretary Tim Geithner In JP Morgan Fight


WSJ-

(“Lehman Brothers Subpoenas Geithner In J.P. Morgan Fight,” at 10:55 p.m. EST Thursday, misstated the year Lehman originally sued J.P. Morgan in the 10th paragraph. The correct version follows.)

Lehman Brothers Holdings Inc. (LEHMQ) and its creditors late Thursday said they want to subpoena Treasury Secretary Timothy Geithner to question him under oath over allegations J.P. Morgan Chase & Co. (JPM) illegally siphoned billions of dollars from the collapsing investment bank in the days before it filed for the largest bankruptcy in U.S. history.

In a filing accompanying Lehman’s filing, made in U.S. District Court in Washington, Lehman’s official committee …

[WALL STREET JOURNAL]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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MI CLASS ACTION | DICKOW vs JPMorgan Chase, Federal Reserve System, OFFICE OF COMPTROLLER OF THE CURRENCY

MI CLASS ACTION | DICKOW vs JPMorgan Chase, Federal Reserve System, OFFICE OF COMPTROLLER OF THE CURRENCY


UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF MICHIGAN
SOUTHERN DIVISION

THERESE DICKOW,
on behalf of herself and a class of persons
similarly situated,
Plaintiffs,

vs.

JPMORGAN CHASE BANK, N.A,
Successor in interest from the Federal Deposit
Insurance Corporation, as receiver for
Washington Mutual Bank; BOARD OF GOVERNORS
OF THE FEDERAL RESERVE SYSTEM; and
OFFICE OF COMPTROLLER OF THE CURRENCY
(federal bank regulators),
Defendants.

__________________________________________________________/]

[ipaper docId=81508752 access_key=key-ldfpchyk7rc2kwqi285 height=600 width=600 /]

 

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