MAJOR BANK MORTGAGE FRAUD - Unearthed on 60 Minutes USA

[fifi]

Source: http://stevebeckow.com/2011/08/major-bank-mortgage-fraud-%e2%80%93-unearthed-on-60-minutes-usa/

Who is Linda Green?

Well, seeing that Linda’s signature is shown on more than 20 different bank documents as being their Vice President, you would presume that’s what Linda is, a VP of a 20 banks…. But hang on… How is it possible to be a VP of over 20 banks at the same time? She is either extremely talented and doesn’t require sleep or there is something more to this story. After watching this 14min investigation, I can honestly say this is one of the most blatant cases of forgery I have seen come to light.


Turns out, Wall Street cut corners when it created those mortgage-backed investments that triggered the financial collapse. Now that banks want to evict people, they’re unwinding these exotic investments to find, that often, the legal documents behind the mortgages aren’t there. Caught in a jam of their own making, some companies appear to be resorting to forgery and phony paperwork to throw people – down on their luck – out of their homes.

So what did the banks do? They employed sweat shop style workplaces to forge mortgage paperwork. Most documents were signed off by Linda Green and as you can see by from the below picture. Linda Green has many different ways to sign her name!

Watch the video to find out how the banks accomplished it and meet the real life Linda Greens’ . Some turn our to be a middle aged man, a young African American lady and man. Amazing that they were doing this for just $10.00 per hour!


http://www.youtube.com/watch?feature=player_embedded&v=IKwB1BaFu9Q

[Jake]

I had no Idea. I am glad I am not a home owner. (Never thought I'd say that!)

[Referee]

WOW. Can You believe this! We need to make these banks accountable for these actions.

[Unified Serenity]

This is not an easy issue. The bad loans that duped people into reckless payments, the improper paperwork, and the downturn in the economy that has left many without jobs all plays into this. I think it's wrong of people to simply say it's the banks faults when people bought houses they could not afford and are now trying to use this issue of "prove you own the house" to the bank to basically live in their home which they cannot pay for and are living in many cases for free. No one wants people to be homeless, but let's be realistic. If you make $2000.00 per month and your mortgage payment is $1500.00 a month how can you get into that mortgage? I don't care if the bank approved it. If you can afford it with your two income household and one of you loses your job, is it right to just say I stay here cause you can't prove you own the house to the bank? The forclosed houses are sitting empty, ruining the value of the homes around them and people cannot buy them because of a paperwork fiasco.

Those duped into the sub-prime mortgage under the false premise that they could get it refinanced easily in 2 years to a lower interest rate need to be worked with and helped because I do believe they were duped and often times it was minorities who were targeted with this scheme who subsequently lost their homes and of course the banks can't prove they own the house when it's really a legality which is factual and important, but we know the bank owns the house and sold it in a security package, they just didn't do the paperwork right. They lent the money, the builders got paid, and the homeowner agreed to the loan. So, set up a "clean-up" fund, help these people, and fine the banks for this new act of forgery.

America will never get moving forward if we can't fix this problem. It affects so much in our economy. Imagine the glut of low priced homes when this is fixed that people can buy. The problem now is that the longer a home sits empty the bigger repair bills mount on that home. We need to fix this NOW.

[Lifebringer]

My husband a VET was gonna finally put in for his GI loan and these jerks at the bank, had the nerve to tell him his credit wasn't up to snuff.

Well, it's God's way that he didnt' take up with the "we buy ugly houses" club and get reamed from his loan for serving his country. Bank of America is BINO. Bank In Name Only, they are really the legalized loan sharkers, that the FBI closed in the 80's just under a different name or banner. The John McCain banks that caused the Student and Loan Racketeering.

LOCK THEM ALL UP. EMBEZZLEMENT OF FEDERAL FUNDS if they used a government backed Vet loan money. Stick em and stick em hard!! They stole people's dreams and assets saved.
They even used the 401k's as collateral and the reason for the bailout, with Paulson. They took everybody's money and used it as collateral like chips on the casino tables.

The MOb would have had them in cement shoes, and they are lucky they paid the union workers retirement, or there would have been a Wall ST massacre on the crooks responsible.

[Lord Sidious]

I had no Idea. I am glad I am not a home owner. (Never thought I'd say that!)

Why?
The people who took out these contracts will not ever have to pay them back, but they can sue the bank as well?
Legal maxim - fraud vitiates the contract.
Now that lawyer is in a great position.
Not only are the documents fraudulent, but according to their own docs, they acquired the loan, via a notice of assignment AFTER they began the court action.
That would meant that not only do they not have standing to bring the action, they are in contempt of court as well!
Because these contracts cross state lines and involve interstate commerce, this is also a federal felony.
In cases like this, you can ask the court to order that the plaintiff/claimant bring in the original documents to be viewed.
Most times when they securitise them, they don't have them anymore, there is another out.
If the judge refuses, you can tell him you think the docs you have seen appear to be fraudulent and that you want to compare them to your copies of the originals.
Expect that the case might be dismissed fast.
Deutsche Bank lost a huge case in the past few years over securitised mortgages.


This is not an easy issue. The bad loans that duped people into reckless payments, the improper paperwork, and the downturn in the economy that has left many without jobs all plays into this. I think it's wrong of people to simply say it's the banks faults when people bought houses they could not afford and are now trying to use this issue of "prove you own the house" to the bank to basically live in their home which they cannot pay for and are living in many cases for free. No one wants people to be homeless, but let's be realistic. If you make $2000.00 per month and your mortgage payment is $1500.00 a month how can you get into that mortgage? I don't care if the bank approved it. If you can afford it with your two income household and one of you loses your job, is it right to just say I stay here cause you can't prove you own the house to the bank? The forclosed houses are sitting empty, ruining the value of the homes around them and people cannot buy them because of a paperwork fiasco.

Those duped into the sub-prime mortgage under the false premise that they could get it refinanced easily in 2 years to a lower interest rate need to be worked with and helped because I do believe they were duped and often times it was minorities who were targeted with this scheme who subsequently lost their homes and of course the banks can't prove they own the house when it's really a legality which is factual and important, but we know the bank owns the house and sold it in a security package, they just didn't do the paperwork right. They lent the money, the builders got paid, and the homeowner agreed to the loan. So, set up a "clean-up" fund, help these people, and fine the banks for this new act of forgery.

America will never get moving forward if we can't fix this problem. It affects so much in our economy. Imagine the glut of low priced homes when this is fixed that people can buy. The problem now is that the longer a home sits empty the bigger repair bills mount on that home. We need to fix this NOW.

Do you have any idea how fractional reserve banking works?
They LOAN YOU NOTHING!
I hear you in your post and whilst what you say is honourable, it is not dishonourable to fight back against fraudsters and thieves.

This is the rule of three, yet again caning the bad guys.
They put this out and now, when their arses hurt from the bites, they cry.
My answer?
Too bad, how sad. Next.