This is getting to be a bit much.
Last week, the Obama Administration announced a settlement of all claims by any agency of the Federal Government or by any State Attorney General, of Mortgage Fraud committed by or on behalf of five huge Mortgage Servicers which are also Banks and which issued Mortgages as well. Many features of the settlement have been written up in Press Releases and published in many newspapers.
However, the actual Settlement Agreement is not posted online yet as of this writing.
As noted, this is getting to be too much. It seems pretty clear that the participants are not posting their Settlement Agreement because they just do not want other people to look at it. They would rather have their Press Releases published instead.
An "executive summary" without the actual provisions has just been released. Download Philip A Lehman Asst A G N C Executive Summary of Multistate Federal Settlement of Foreclosure Misconduct Claims (undated c 02 15 12) It is four pages long.
Three paragraphs address the Release given by the Federal Government and by the State Attorneys General.
The "executive summary" of their Release is that they have released all claims that they might file on account of the Foreclosure Frauds allegedly committed upon Homeowners who are losing their homes in these Foreclosures. The alleged Fraudulent activities are not mentioned, but past allegations of their Fraud include the submission of Affidavits which are not based on personal knowledge, or which are allegedly false and misleading, and including also the filing of Foreclosure lawsuits and the pursuit of nonjudicial Foreclosures where permitted, which are allegedly brought by persons or corporations which do not hold the Note behind the Mortgage in question, and who swear or affirm that they cannot account for its whereabouts, even as they pursue their Foreclosure claims based upon those same Notes and Mortgages.
Individuals and their lawyers are not bound by this settlement, and they can still pursue claims and defenses based upon these Frauds, the executive summary helpfully summarizes for us.
What the executive summary leaves out, however, is that most of these Foreclosure Defendants do not have a lawyer.
There is often no-one involved in their Foreclosures who knows enough to look for evidence of the Foreclosure Plaintiffs' Mortgage Fraud if any. That leaves the United States Department of Justice, all the Federal agencies involved, and the 50 State Attorneys General to raise the issues -- only they have just settled out.
Mortgage Fraud Settlement: This Settlement is itself a Fraud. Just in time for the upcoming 2012 elections.
Please Read The Disclaimer.
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