Tag Archives: HAMP

Confidential Federal Audits Accuse Five Biggest Mortgage Firms Of Defrauding Taxpayers | Huffington Post

The audits accuse the five major lenders of violating the False Claims Act, a Civil War-era law crafted as a weapon against firms that swindle the government…

The audits conclude that the banks effectively cheated taxpayers by presenting the Federal Housing Administration with false claims: They filed for federal reimbursement on foreclosed homes that sold for less than the outstanding loan balance using defective and faulty documents.

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What Brian and Ilsa Said To Their Bank: “Show Me The Note” | Zero Hedge

Rat Bastard!

On Thursday, when they spoke, the bank executive was sweetness and light—she told them that Ilsa and Brian qualified for HAMP, that they would get refinanced, that they would not have to pay the difference in mortgage of the last three months—“Your lower mortgage rate is locked in!”

And as to the $84 penalty fee, which had driven Brian in particular up the wall: It was waived.

Ilsa told me, “It was the nicest conversation we’ve ever had with a bank executive.”

The executive promised to have the papers drawn up, ready to be signed before November 1.

That’s right: November first. After dicking them around for months on end, Wells Fargo all of a sudden went from turtle-speed to light-speed—to warp-speed—boom!—just like that. They didn’t even engage thrusters, Captain—it was warp drive the instant Brian e-mailed that threat.

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