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Problems in Mortgage Servicing From Modification to Foreclosure
Tuesday, November 16, 2010
02:30 PM – 05:00 PM
538 Dirksen Senate Office Building
The witnesses will be: The Honorable Tom Miller, Attorney General, State of Iowa; Ms. Barbara J. Desoer, President, Bank of America Home Loans; Mr. David Lowman, CEO, Chase Home Lending; Mr. Adam J. Levitin, Associate Professor of Law, Georgetown University Law Center; and Ms. Diane Thompson, Counsel, National Consumer Law Center. Additional witnesses may be announced at a later date.
Caveat: Check Committee website for updates: http://banking.senate.gov/public/index.cfm?FuseAction=Hearings.Hearing&Hearing_ID=df8cb685-c1bf-4eea-941d-cf9d5173873a
Per website: “Note: All hearings are webcast live on our website.”
Problems in Mortgage Servicing From Modification to Foreclosure
Tuesday, November 16, 2010
03:15 PM – 06:00 PM
538 Dirksen Senate Office Building
The witnesses will be: The Honorable Tom Miller, Attorney General,
State of Iowa; Ms. Barbara J. Desoer, President, Bank of America Home
Loans; Mr. David Lowman, CEO, Chase Home Lending; Mr. Adam J. Levitin,
Associate Professor of Law, Georgetown University Law Center; and Ms.
Diane Thompson, Counsel, National Consumer Law Center. Additional
witnesses may be announced at a later date.
Add To My Calendar (vCal)
Witnesses
Panel 1
- Honorable Tom Miller Attorney GeneralState of Iowa
- Ms. Barbara Desoer President Bank of America Home Loans
- Mr. David Lowman CEO Chase Home Lending
- Mr. Adam J. Levitin Associate Professor of Law Georgetown University Law Center
- Ms. Diane E. Thompson Counsel National Consumer Law Center
- Mr. R. K. Arnold President and CEO Mortgage Electronic Registration Systems, Inc
The banks and their attorneys are committing fraud in the courts that goes way beyond robo-signing. They misrepresent & omit documents alleged to be exhibited in their foreclosure complaints and 1200+ page Summary Judgment Motions. They refused to provide the omitted imaginary documents after many months of demands for same. Their Motions are withdrawn after continued demands for the imaginary documents which purport to prove standing by an illegitimate successor.
Entering into a modification legitimizes an agreement with an entity that does not own the debt and does away with the underlying defenses concerning the original fraud by the brokers and loan originators. All demands for discovery to prove defenses including compliance with the Fair Debt Collection Practices Act have been routinely ignored. In effect the new fraud in the litigation techniques of robo-signing and omitted nonexistent documents obfuscates the original fraud by the brokers and the loan originators which can only be proven through discovery. Discovery must be available as necessary prior to a modification or the banks will be allowed to succeed with fraud while the true party in interest privy to the original fraud is concealed. For unknown reasons which disfavor homeowners, the banks want to hide the fact that these loans have been securitized. They cannot or will not verify and validate the debt by producing endorsed promissory notes, assignments of mortgages(because of fraudulent assignments), payment histories, escrow accounting, agreements between brokers and loan originators and copies of signed documents never provided at the closing, etc.
A simple investigation will probably disclose that the fraudulent litigation practices extend far beyond the robo-signing by the banks.