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Tammy Baldwin To Introduce Resolution Opposing Immunity For Banks In Foreclosure Deal

Tammy Baldwin To Introduce Resolution Opposing Immunity For Banks In Foreclosure Deal


HuffPo-

WASHINGTON — Rep. Tammy Baldwin (D-Wis.) is set to introduce a resolution in Congress this week calling on the Obama administration and state attorneys general to ensure that any deal reached with the nation’s biggest banks on foreclosure abuses includes full investigations into what happened, awards proper compensation to victims and provides no immunity for potential wrongdoing.

U.S. Attorney General Eric Holder and the state AGs have been working with the nation’s five largest mortgage firms — Ally Financial, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo — to settle disputes over potentially illegal foreclosure practices, such as the so-called robo-signing of foreclosure documents.

Baldwin’s resolution states that any settlement should follow three guidelines: […]

[HUFFINGTONPOST]

Letter she sent to Eric Holder

[ipaper docId=71461809 access_key=key-1zveog1fwt3vzgl7kan5 height=600 width=600 /]

 

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Federal Bank Regulators Scrutinizing Mortgage Lawsuits Against Banks, Opening New Worry For Investors, Bankers

Federal Bank Regulators Scrutinizing Mortgage Lawsuits Against Banks, Opening New Worry For Investors, Bankers


HuffPO-

WASHINGTON — Federal bank regulators are scrutinizing more than 150 home loan-related lawsuits directed at lenders and mortgage companies, a top official at the Federal Deposit Insurance Corporation plans to say Thursday, underscoring the threat the largest U.S. banks face from faulty and improper mortgage and foreclosure practices.

The revelation will likely add to large banks’ woes, as the five biggest servicers — Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial — currently face up to $30 billion in penalties from state attorneys general and federal agencies for wrongful foreclosures and other mortgage-related misdeeds.

Continue reading [HUFFINGTONPOST]

[ipaper docId=59494826 access_key=key-1lt0129qogynaedlq4lt height=600 width=600 /]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Bank Of America ‘Significantly Hindered’ Federal Investigation, U.S. Official Says

Bank Of America ‘Significantly Hindered’ Federal Investigation, U.S. Official Says


HuffPO-

Bank of America, the largest U.S. bank by assets, “significantly hindered” a federal investigation into the firm’s faulty foreclosure practices on potentially billions of dollars worth of taxpayer-backed loans, a federal auditor told an Arizona court.

The bank withheld key documents and data, prevented investigators from interviewing bank employees or asking certain questions, and was slow to provide information, according to a June 1 declaration by William W. Nixon, a fraud examiner and assistant regional inspector general for audit for the U.S. Department of Housing and Urban Development inspector general’s office.

continue reading [HUFFINGTONPOST]

This is 1 of 2 documents from HuffPO’s story.

[ipaper docId=57804321 access_key=key-288oqfniehj7zxbtze1v height=600 width=600 /]

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