As we sit waiting with baited breath for the whitewash by our so-called Attorneys General that are going to screw the people they allegedly serve (that’s the public, not the Banks) we get this:
The fraud perpetrated on the Court, Debtors, and trustee would be shocking if this Court had less experience concerning the conduct of mortgage servicers. One too many times, this Court has been witness to the shoddy practices and sloppy accountings of the mortgage service industry. With each revelation, one hopes that the bottom of the barrel has been reached and that the industry will self correct. Sadly, this does not appear to be reality. This case is one example of why their conduct comes at a high cost to the system and debtors.
Fraud. Got that? Not my words, the Judge’s.
The question is not simply “did you pay as the bank asserts you had to?”, and if the answer is “no”, the remedy is “get the hell out of the house.”
Uh uh. That would be fine if the banks, on a provable basis in each and every case, always performed exactly as the contract required. But we have seen time and time again that they don’t in myriad ways. In the case at bar we have payments that were made and not applied, among others offenses and in fact according to the testimony reflected in this order the loan was current, had those payments been applied.
This case appears to date back more than three years to the latter half of 2007. For three years justice has been delayed and, but for a judge sitting at the Bar who refused to be snowed and steamrollered, justice would have been denied.
Fraud is not punished with a handslap and a promise not to do it again. It is punished via huge fines and imprisonment.
So where are those sanctions, Attorneys General?
Who are you blowing under the desk, Attorneys General, instead of doing your damn jobs?
Tickerguy thanks The Honorable Elizabeth Magner.