We have been covering the systemic Foreclosure fraud that has gone viral through out the US banking system over the past few days, months and year.
This is a perfect example as to why bailouts are so ill advised: The government becomes reluctant to prosecute firms when they have a vested interest in their financial success.
Less than 4 weeks before the election, a game of chicken has broken out: Which of the two parties will throw their banking friends and overlords under the bus in the mad dash for votes? Stay tuned!
Meanwhile, here is some midweek reading:
• Florida foreclosures continue; Banks’ moratorium claims called ‘farce’ (Florida News-Press)
• How The Controversial Foreclosure Bill Made It Through Congress With No Public Debate (Huff Po)
• BOMBSHELL- New Subpoenas Issued by Florida Attorney General to Lender Processing Services and Docx, LLC (Matt Wiedner Law)
• The MBS mess from the beginning – the deal docs (FT Alphaville)
• Robo-signers Wanted: Mortgage experience not necessary (Yahoo/AP)
• A Primer On The Foreclosure Crisis (CNBC.com)
• All 50 States Start Inquiry Into Foreclosures (Reuters)
• Title Insurers in Talks With Lenders on Warranties (Bloomberg)
• Michigan: Real Estate Officials Call for Halting Some Foreclosures AG’s Office Says Call for Investigation is Politicizing Issue (Legal News)
• Daily Show On Foreclosure Fraud (TDS)
• White House Supports Mortgage Probe (WSJ) This Wall Street Journal reports something hard to believe. What government officials are saying this? Is this true — or just poor reporting?
“Government officials said they haven’t uncovered evidence any homeowner was inappropriately evicted, but are probing further to assess the extent of the banking industry’s problems. State attorneys general are expected to announce their investigation on Wednesday.”
• WTF? Banks Breaking Into Occupied Homes (Not In Foreclosure) To Change Locks (Huff Po) They could start with Nancy Jacobini, to whom JP Morgan Chase actually apologized after hiring a contractor to break into her home when she was not in foreclosure.
• Two Faces: Demystifying the Mortgage Electronic Registration System’s Land Title Theory, (University of Utah – S.J. Quinney College of Law)
• Misbehavior and Mistake in Bankruptcy Mortgage Claims (University of Iowa)
• Florida’s AG seeks meeting with major lenders (Miami Herald)
• New PR from the Banks: All Is Well (YouTube)
• JP Morgan Leaves MERS (Yahoo/AP)
• JP conference call transcript (Calculated Risk)
• Obama Supports State AG Suits (Bloomberg)
• Citigroup Stops Using Foreclosure Law Firm Facing Florida Probe (Bloomberg)
• Why Foreclosure Fraud Is So Dangerous to Property Rights (TBP)
• Rep. Grayson’s letter wrote a letter to Fannie on this subject: (PDF)
• Bank of America Stops Foreclosures Nationwide (Fox Business)
• Memories of September: Fox Business News Attacks Grayson, Sanctions Foreclosure Fraud (YouTube) Surprisingly weak reporting . . .
Did I miss any good ones?