Finally! Banks & Mortgage holders under serious investigation!

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posted on Nov, 27 2011 @ 09:22 AM
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I hope this is the right forum for this information. I thought maybe I should place it in Other Current Events, so, Mods, please move where ever you see fit.

Some of you may be aware of my battle with BOA and I've started several threads pertaining to the mortgage crisis, but it seems as though I've held on long enough that BOA, as well as other financial insititutions, are being investigated for their business practices regarding people's mortgages.

I'm happy to announce that my dilemma is finally coming to an end. I hope others' battles are, too.
I finally feel as though I have some peace of mind. For several months, I've been checking the mailbox and bracing myself for a notice of property auction, but not anymore. I can finally breathe a sigh of relief.

Yesterday, I received a letter that my mortgage and BOA's treatment of my mortgage is finally being investigated by The Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency (federal bank regulators - every state has one). These two entities are requiring an Independent Foreclosure Review to identify customers who may have been financially injured as a result of errors, misrepresentations, or other deficiencies made during the foreclosure process.

The letter goes on to say that Bank of America's records indicate that my loan may meet the initial criteria:
1. Your mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010
2. The property was your primary residence

Yes and yes.
So, this is what I must do:
-- submit a Request for Review Form for an Independent Foreclosure Review by a consultant outside of Bank of America

The letter I received already included this Review Form, so all I have to do is fill it out and return it by April 30, 2012. It says that the investigation will be thorough and complete and BOA will have to answer questions and submit documents, too. It also states that the review process could take several months.

Here is a link to the website associated with this investigation:
www.independentforeclosurereview.com...

This is great news for me as well as many others who have suffered for criminal banking practices and have lost their homes even though they tried to bend to the banks wishes.

Here are the qualifications under which an investigation can get underway:
1. The mortgage balance amount at the time of the foreclosure action was more than you actually owed.
Check
2. You were doing everything the modification agreement required, but the foreclosure sale still happened.
Check (but I'm still in my home. I know others who are not)
3. The foreclosure action occurred while you were protected by bankruptcy.
Check
4. You requested assistance/modification, submitted complete documents on time, and were waiting for a decision when the foreclosure sale occurred.
Check and check (again, I'm still in my home, but others aren't)
5. Fees charged or mortgage payments were inaccurately calculated, processed, or applied.
Check, check, and check.
6. The foreclosure action occurred on a mortgage that was obtained before active duty military service began and while on active duty, or within 9 months after the active duty ended.
No.

The letter goes on to say that once the investigation is complete, I may be eligible for financial compensation or some other remedy.

Honestly, I'm surprised that I haven't been put into a mental institution because of BOA's repeated lies, false promises, and mental torture. To give you a better idea of how the bank has treated me, BOA even called the police and told them I was suicidal simply because I told them they could have my home when the peeled my cold, dead body off the floor. This was one month after my bankruptcy hearing and the bankrupty petition specifically stated that BOA had to modify my loan. They didn't care about the judge's ruling and insisted I choose a short sale or foreclosure.
BOA -- You are not above the courts and you're in for a very rude awakening! You should also be charged with making a false police report during the act of violating a judge's ruling. You should all be ashamed of yourselves!

If BOA has to pay restitution and/or lower the mortgage values of the homes for several thousand of its customers, this may just break them. At least I hope so.

Although my letter specifies foreclosure proceedings between January 1, 2009 and December 31, 2010, I would like to know if anyone else has received one of these notices for other months.

Please help me keep this thread alive. If you or someone you know gets one of these letters, please post to this thread. Also, if you feel that you deserve to have your mortgage situation investigated, write to your state's Comptroller of the Currency and request an investigation.

These investigaitons are not based solely on BOA. It involves all of these other institutions:

America’s Servicing Co.
Aurora Loan Services
Bank of America
Beneficial
Chase
Citibank
CitiFinancial
CitiMortgage
Countrywide
EMC
EverBank/EverHome Mortgage Company
GMAC Mortgage
HFC
HSBC
IndyMac Mortgage Services
MetLife Bank
National City Mortgage
PNC Mortgage
Sovereign Bank
SunTrust Mortgage
U.S. Bank
Wachovia Mortgage
Washington Mutual (WaMu)
Wells Fargo Bank, N.A.


Also, this is the first time that I've ever considered the Federal Reserve a friend instead of an enemy. It's nice to see them stepping up to the plate rather than backing their banking buddies.

Be well, everyone. May the force be with us all during these corrupt times. Sometimes good does prevail. It just takes longer to get to us sometimes.




posted on Nov, 27 2011 @ 09:33 AM
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I forgot to encourage everyone to email the link to the Independent Foreclosure Review website to anyone they believe may need an investigation.
Here it is again:
www.independentforeclosurereview.com...

Please, allow me to stress that people need to pressure the Federal Reserve and the Comptroller of the Currency to investigate foreclosures that happened outside of the months specified in my letter, which are January 1, 2009 and December 31, 2010. I'm sure there are many people before and after these months who are deserving of regulators' attention.



posted on Nov, 27 2011 @ 11:05 AM
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Are you advertising for them?

Or are you stupid?

It's a scam. The site, the program and everything else is run by a company called "Rust Consulting Inc"

They are not accredited with the BBB which is a red flag with any government contract, and I've been able to find at least 22 complaints filed against them in the past 12 months (and I'm sure if I looked into the Attorney Generals offices I'd find plenty more.

Please everyone this is a scam, the OP is either in on it or stupid, do NOT give any personal financial information, account numbers, mortgage information or any other information to these scumbags.

PS You should also know that there is no program by the Federal Government acting in the way described by the sites owners. From what I can gather about the company making it is that they redistribute information to private 3rd parties, and also farm for class action suits by having analyst comb financial information. They are in no way sanctioned by the Government. And it would be the Attorney General (NAAG), SEC (Financial instruments) and the FBI (actual mortgage fraud) that does reviews. Not the Federal Reserve
edit on 11/27/2011 by Rockpuck because: (no reason given)



posted on Nov, 27 2011 @ 11:35 AM
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reply to post by Rockpuck
 


I'm not in on it and the info you're providing is news to me.

I just checked the privacy policy at the bottom of the site and see what you're talking about.
Why would they do something like this? I was finally hoping that my dilemma (to put it lightly) was finally coming to an end.

I'll be contacting the Comptroller of the Currency tomorrow and asking what the deal is with this and if they're aware.

Thank you for bringing my attention to the info you provided.
I'm going to go cry now.

Edit to Add: RockPuck, please learn to choose your words wisely. I'm not stupid. I was just hopeful that this was a real thing. There was nothing in the letter I received to indicate this was a fraud. If I were stupid, I wouldn't be going on the third year of not paying my mortgage and still being in my home. Please don't be so insulting. People who have been fighting for their homes deserve a little bit more respect.
edit on 27-11-2011 by Afterthought because: (no reason given)
edit on 27-11-2011 by Afterthought because: (no reason given)
edit on 27-11-2011 by Afterthought because: (no reason given)



posted on Nov, 27 2011 @ 11:46 AM
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sigh***
don't cry friend, it's not over for you, stay tough.
2 things have happened recently that is good news for you.
In Mass. a judge ruled that almost all the foreclosures in the last 5 years were illegal and fraudulent.
And in Nevada this last month laws were placed making fraudulent robo-foreclusures a fellony.
As a result there are criminal charges being made allready against those that were robo-signing names that were forged with fraudulent notaries.
Stay with it, your day of justice is right around the corner against these crooks.



posted on Nov, 27 2011 @ 11:48 AM
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reply to post by Afterthought
 


The OCC regulates general banking practices, but actual legal crimes, like Mortgage Fraud, is not regulated by the OCC .. it gets into a gray area depending on how the mortgage was originated and what if any possible crimes occurred. The OCC is generally the figurehead that overseas the general actions of various agencies who then regulate mortgage contracts.. The Office of Thrift Supervision regulates Mortgages Origination. And the FDIC, FRB and numerous other agencies all regulate a specific area. The Consumer Financial Protection Agency was created to act as a more direct overseer of everything related to mortgages.

If you feel like there is some action that occurred during the origination of your loan you can hire a lawyer and bring the matter to court. I can say that the vast majority of times the homeowner loses, and gets stuck with legal fees.. it's one thing to "feel" you got screwed, quite another to legally prove wrongdoing. Especially since there wasn't much regulation to begin with.

As a final note.. never trust a site regarding your mortgage or financial anything unless it's directly from your bank or has .gov as the end of the sites address. I knew your link was a scam the second I saw the .com.
edit on 11/27/2011 by Rockpuck because: spelling



posted on Nov, 27 2011 @ 11:50 AM
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reply to post by Afterthought
 




If I were stupid, I wouldn't be going on the third year of not paying my mortgage and still being in my home. Please don't be so insulting. People who have been fighting for their homes deserve a little bit more respect.


Um.. am I supposed to be amazed at your awesome skillz at being a deadbeat loser who stole a home? If I am sorry to disappoint you, being a homeowner who pays my bills regardless of how hard it can be I find people like you to be.. well... disgusting.



posted on Nov, 27 2011 @ 11:57 AM
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Here is an interesting article regarding Rust:
www.patrickpretty.com... -another-company-can-expedite-refunds/

The remissions website is operated by Rust Consulting Inc., which is under contract with the government to handle the remissions and restitution process.

The PP Blog has seen reports and received inquiries from readers about a company known as Anshell Financial Services LLC (AFS). Among other things, AFS claims to be able to “expedite” the process of recovery. It also claims it has “established an efficient business relationship” with Rust, the official claims administrator.

Not so fast, says Rust.

“Rust Consulting, Inc. is an independent claims administrator that has been retained by the U.S. Secret Service to assist in processing Remission Forms,” Rust said. “Neither the U.S. Secret Service nor Rust Consulting, Inc. are in any way affiliated with or endorse AnShell Financial Services.”

AFS published a document on its website that says it will charge a recovery fee to assist ASD, Golden Panda and LaFuenteDinero members. The document was called a “retainer agreement.”


So, it seems as though they are a company involved in recovery, but I don't quite understand what team they're playing for. It appears from the article that they take care of messes the government creates, but are they actually in league with the Comptroller of the Currency? I involved the Comptroller with my mortgage mess when it really started the get ugly and they stepped in to "mediate". Once they were involved, BOA couldn't contact me directly. All communications had to go through the Comptroller. I hardly believe that they would be involved with a company who sends out fraudulent information.

I'm going to have to do some more research. The form they sent me to fill out asks for a lot of sensitive and personal information. Like I stated, I'll be contacting the Comptroller tomorrow to see what the deal is with this and if they are truly involved. I'll post whatever I discover.



posted on Nov, 27 2011 @ 11:59 AM
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reply to post by Rockpuck
 


You don't know me. I wish you and others who jump to conclusions about people would go to GLP where you belong.

You have no idea what my story is. What happened to me has nothing to do with being a dead beat. I sent BOA all $3000 they requested and promised that my mortgage would be fine and up to date. I did this and they still returned my money.

What happened to me could happen to your sister, grandmother, mother, father, brother, etc. Would you also call them dead beats? Probably.



posted on Nov, 27 2011 @ 12:06 PM
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reply to post by Afterthought
 


Their essentially a group of lawyers.. you've seen them on TV with "did you take this drug and get sick, did someone you know die, blah blah blah" and create huge national class action lawsuits. They usually take 40% of the class action winnings.
They also operate call centers, filing centers, and data farming centers.. They DO do 3rd party work as out sourcers for the Government, mostly in call centers, but you should never be asked to send information directly to them.

The reason it's a fraud: They are not doing what they say they are doing (reviewing for illegal occurring during the origination of the loan) or subsequent illegal activities.

What they are doing is taking your information, combing threw the data and figuring if they can get enough people for a class action suit. They are like a technological/legal middle man between the Government, Courts or Financial Restitution and the People.

As I said, you can have your personal mortgage reviewed at any time by your request through actual government agencies, not part of a large national "review" and if you feel there is any wrong doing, you can take it to court.



posted on Nov, 27 2011 @ 12:08 PM
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reply to post by manna2
 


Thanks for your encouraging words.
I heard about the ruling in Mass. and I was so hoping this was part of its ripple effect.

If only people would understand what it's like to do battle with such a huge criminal entity instead of assuming that we're disgusting dead beats. Every story is different. Nobody should be able to buck a judge's ruling. I guess that doesn't apply to us disgusting dead beats though. Like the bank, there will always be people who think the little guy deserves to be wiped off the face of the Earth instead of the white collar criminals.

Maybe if the bank made me take an oath to slit my stomach open while I was wearing one pant leg cinched up my leg, I'd have gotten more respect from them.


I hope one day things will change. There once was a time when people could purchase a home, still put healthy meals on the table every night, take vacations every year, and still pay their mortgage off in time with one member of the family working. How I yearn for those good ol' days.



posted on Nov, 29 2011 @ 08:31 AM
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I just got off the phone with the Office of the Comptroller of the Currency.

THIS IS NOT A SCAM!!!!

It is a legitimate investigation that is independent of the OCC, but they are a supporting entity.
Here is the Comptroller's website. www.occ.gov...

I spoke with a woman who acknowledged that it is a real investigation. Since I'm already working with the OCC regarding my mortgage, I asked if it was alright if I made a copy of the paperwork once it's filled out and send it to them to have it added to my file. She said this was fine. She then transferred me to the Independent Foreclosure Review extension. Although it was just a recording, it stated that an investigation into the foreclosures is underway and gave a phone number to call with any questions, which is 1-877-465-0428.

I encourage anyone who is interested to call the Comptroller's Office themselves and verify the information I've just presented.

The letter I received also stated that participating in this investigation will not affect any other legal moves in the future should I or anyone else decide to sue their financial institution. Always good to know.

Take care, everyone.



posted on Nov, 30 2011 @ 02:55 PM
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I just wanted to give this thread another shameless bump in case anyone might have received one of these letters in the past couple of days and would like to add to this thread. If you received a letter, are you planning on participating in the investigation? I most certainly am and encourage everyone else to do so as well. Do not let anyone make you feel like a "disgusting deadbeat" because of corporate criminals.

I'd also like to add this article that came out today stating that BOA was just downgraded by the S&P to an A-.
www.foxbusiness.com...

I'm wondering if enough people participate in this investigation and BOA (as well as other banksters) has to pay restitution for their white collar crimes, I'm hoping it will break them and no bail out will be enough to keep them afloat.



posted on Jan, 28 2012 @ 12:40 PM
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I'm bumping this. I have the same letter, and am planning on sending my info in on Mon. I just got mine since they sent my first one to my "old address". I figure that at this point, what can it hurt. Already lost my house, my life and everything that made me happy due to Suntrust's horrible business practices.......

A_L



posted on Jan, 28 2012 @ 12:55 PM
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reply to post by another_lurker
 


I'm glad you found this thread and added that you got a letter, too. That's wonderful to hear!


I'm working on my paperwork now. It's pretty difficult since it's been four years worth of documents that I have to go through, but I'm almost finished. Bank of America is going to look like such crooks when they see the evidence I have against them.

I'm so sorry to hear that you lost your home and everything else besides. I'm glad to hear that you're still going to fight since they should be held responsible and compensate you in whatever way the investigators deem fit.

I'm still in my home, but there were several times that they almost got me out, but I blocked their efforts each and every time.

Hang in there! Just keep thinking about how good it will feel when you deliver that sucker punch to them.



posted on Jan, 28 2012 @ 01:01 PM
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Lets bring these BASTARDS to justice.

They have ruined the life of MANY, MANY innocent families who STRUGGLE TREMENDOUSLY due to their never-ending greed.

They deserve to be publicly HANGED!!!!!!
edit on 28-1-2012 by HangTheTraitors because: (no reason given)



posted on Feb, 17 2012 @ 09:00 AM
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Afterthought: I, too received the same letter. I am working on gathering ALL of my data, re: the absolute nightmare I experienced with BOA- I did lose my house, and over $120K in equity- they sold it for $120K more than my loan balance. (which is why I think they rushed to foreclose on my home).

I fought for over a year, and my health and well, my whole life has suffered as a result. I saw an article in USA Today this week re: the letters sent out in Nov and Dec of 2011 (the letter we received). It indicated that only 89,000 people out of 4 million letters sent, had replied to date. They went on to acknowledge that the letter and the website may have looked suspiciously similar to a loan scam, and that many may have disregarded it. They and are extending the April deadline, to June or July. They also mentioned the recent $25 billion the government voted on, as restitution- and made it cleat that that money is a separate fund, and victims are eligible for both.

I am curious about your experience, since you clearly jumped on it and submitted your request for Independent Review early on (back in the Fall)- have you heard anything back yet? (besides the acknowledgment that they indicated would be mailed within a week of paperwork received.)

Also, how much detail did you include- I am wondering if I should just send it in with a basic overview at this point, but also worry that if I am not VERY thorough and provide everything, that it could have a negative affect.

I APPRECIATE YOU POSTING THIS- it is at least a little comforting knowing that we aren't in this alone.



posted on Feb, 17 2012 @ 09:14 AM
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Originally posted by Rockpuck
Are you advertising for them?

Or are you stupid?

It's a scam. The site, the program and everything else is run by a company called "Rust Consulting Inc"

They are not accredited with the BBB which is a red flag with any government contract, and I've been able to find at least 22 complaints filed against them in the past 12 months (and I'm sure if I looked into the Attorney Generals offices I'd find plenty more.

Please everyone this is a scam, the OP is either in on it or stupid, do NOT give any personal financial information, account numbers, mortgage information or any other information to these scumbags.

PS You should also know that there is no program by the Federal Government acting in the way described by the sites owners. From what I can gather about the company making it is that they redistribute information to private 3rd parties, and also farm for class action suits by having analyst comb financial information. They are in no way sanctioned by the Government. And it would be the Attorney General (NAAG), SEC (Financial instruments) and the FBI (actual mortgage fraud) that does reviews. Not the Federal Reserve
edit on 11/27/2011 by Rockpuck because: (no reason given)


i kind of figured they wouldn't be cutting their own wrists, the govt/corp that is.



posted on Feb, 17 2012 @ 09:28 AM
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reply to post by texas0405
 


Hi, Texas0405. I'm glad to see you found this thread and that you also received a letter.

I'm so sorry to hear that you lost you home and how the bank's actions has made your life a living hell. They are acting as though they are above the law and their victims need to make sure this changes. That's where we come in.

I'm currently working on crossing my Ts and dotting my Is, so I will be sending in my paperwork very soon. I have a stack of paperwork the thickness of Webster's Dictionary, so the process of going through it all is time consuming. So far, I've narrowed my evidence down to 25 documents that are indisputable. They clearly show that the bank has lied numerous times and have also back peddled to cover their tracks.

I'm interested to see the article you read and I'm disappointed to learn that people wrote it off as a scam, but you can see where a member was attempting to take this thread, so I can certainly believe that people were thinking that it was just another means of screwing them over. People like us see something like this and know that every piece of paper is a potential weapon to wield against the banksters.

You asked about my situation and I'll give it to you in a nutshell since my story is going on four years now. When I lost my job, I'd been diligently paying my mortgage every month for four years and had never been late. So, when I called Countrywide to request a deferment, it was granted. They sent me paperwork to sign and the agreement was that I would pay two months worth at the end of 90 days and the third month missed would be tacked onto the end of my loan. Well, during this three months, Bank of America took over Countrywide and all of a sudden, my deferment never existed. When I tried to pay, my money was returned to me. There were several verbal agreements as well as contractual agreements made, but each time I tried to make good on these false promises, my money was returned. This happened five times. Finally, they approved me for a loan modification. I even took this contract to my attorney to review. He got on a conference call with them in which they assured us that my money would be accepted. Well, when I sent in my first payment, it was also returned to me and I received a letter three days after this stating that I was turned down for the modification. I blew a fuse and called the bank telling them they could have my house when they peeled my cold, dead body off the floor. They called the cops and reported that I was suicidal! Three cop cars showed up and I had to walk the length of my driveway towards them with my hands up. Since I wasn't crying and upset, we talked for about 15 minutes and they left after wishing me luck. This is when I got the Comptroller involved and they have acted as a mediator ever since. The bank cannot contact me directly and I cannot contact them directly. Everything must go through the Comptroller. They have been a huge help and I can call them at any point to discuss anything.

I highly suggest you contact the Comptroller in your state and have them start a file on your situation. After you fill out all the paperwork and gather all of your documents related to the investigation, copy everything and send it to the Comptroller. It's best to have your documents in two places just in case something doesn't arrive where it should, gets misplaced, or "lost".

I wish you luck. Keep fighting. Don't give up. The only thing that keeps me going is thinking about how good it's going to feel when all this is said and done. Even if it doesn't work out in my favor (I think it will, but I always try to remain on the fence. After all, being too positive sets you up for greater disappointment.), I know I tried my very best to put corporate criminal activity into the light.

Take care, my friend.
edit on 17-2-2012 by Afterthought because: (no reason given)
edit on 17-2-2012 by Afterthought because: (no reason given)



posted on Feb, 23 2012 @ 02:10 PM
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Keep it up, BOA. You're only digging your hole deeper.

Did you think you were being slick and that I wouldn't see the guy photographing my home? Am I supposed to believe that he was here so you could see whether or not I still lived here? You really have some nerve. How dare you act on anything in regards to my property while you're under investigation. I'm sure he got a nice picture of my face as I was approaching him to see why he was taking pictures. When you see the photos, take a good look because that is the face of determination. That is the face of the person who's going to beat you at your venomous game.

I've already reported your actions to the Comptroller. Thanks for giving me more evidence to add to the investigation. As of right now, I'm going to wait till the last minute to turn in my evidence against you just in case you slimy snakes try anything else.
edit on 23-2-2012 by Afterthought because: (no reason given)



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