Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
Nye Lavalle
What follows is the first paragraph of Treasury Secretary Paulson;s ne plan for the Fed to oversee all financial institutions.. The blind leading the blind... and that's an insure to the blind who are far more intelligent and intuitive...

anyway, read the point about "robust consumer protection" LOL

http://online.wsj.com/public/resources/documents/WSJ_20080328_Paulson.pdf

I. Executive Summary
The mission of the Department of the Treasury (“Treasury”) focuses on promoting economic
growth and stability in the United States. Critical to this mission is a sound and competitive
financial services industry grounded in robust consumer protection and stable and innovative
markets.
Financial institutions play an essential role in the U.S. economy by providing a means for
consumers and businesses to save for the future, to protect and hedge against risks, and to
access funding for consumption or organize capital for new investment opportunities. A
number of different types of financial institutions provide financial services in the United
States: commercial banks and other insured depository institutions, insurers, companies
engaged in securities and futures transactions, finance companies, and specialized companies
established by the government. Together, these institutions and the markets in which they act
underpin economic activity through the intermediation of funds between providers and users
of capital.
This intermediation function is accomplished in a number of ways. For example, insured
depository institutions provide a vehicle to allocate the savings of individuals. Similarly,
securities companies facilitate the transfer of capital among all types of investors and
investment opportunities. Insurers assist in the financial intermediation process by providing
a means for individuals, companies, and other financial institutions to protect assets from
various types of losses. Overall, financial institutions serve a vitally important function in the
U.S. economy by allowing capital to seek out its most productive uses in an efficient matter.
Given the economic significance of the U.S. financial services sector, Treasury considers the
structure of its regulation worthy of examination and reexamination.
Treasury began this current study of regulatory structure after convening a conference on
capital markets competitiveness in March 2007. Conference participants, including current
and former policymakers and industry leaders, noted that while functioning well, the U.S.
regulatory structure is not optimal for promoting a competitive financial services sector
leading the world and supporting continued economic innovation at home and abroad.
Following this conference, Treasury launched a major effort to collect views on how to
improve the financial services regulatory structure.
In this report, Treasury presents a series of “short-term” and “intermediate-term”
recommendations that could immediately improve and reform the U.S. regulatory structure.
The short-term recommendations focus on taking action now to improve regulatory
coordination and oversight in the wake of recent events in the credit and mortgage markets.
The intermediate recommendations focus on eliminating some of the duplication of the U.S.
regulatory system, but more importantly try to modernize the regulatory structure applicable
to certain sectors in the financial services industry (banking, insurance, securities, and
futures) within the current framework.
Quote 0 0

Its the crooks, helping the crooks!  Before they became Federal Reserve Members, they were "One of the boys" and they all know, and knew what corruption thier with the Wall Streets banks, (big 5)  Its all going to be at the consumers and our expense!

Quote 0 0
   I would call it the corrupt regulating the corrupt! The Federal Reserve
System was never meant to finance the Federal Government's Deficits.
This is the origin of the problem! Every time the Federal govt. takes in
less than it spends, it prints up interest bearing Notes and bonds which
it sells on the open market at the lowest interest rate.
   When commercial banks buy these bonds, they can get their cash back
by hypothecating them at the Federal Reserve Banks, which simply print
or credit the "newly created" money to the banks. In this transaction, the
money supply increases but now the taxpayers have to pay interest on
this new money that is created out of thin air!
   I see no reason why the Treasury can not print the "US Notes" directly
and save the taxpayers all that interest! If this system were used it would
free up alot of cash to help struggling homeowners weather the deflation
we are experiencing. It appears that about 1/3 of the Federal income tax
goes toward paying the interest on the national debt. When will our elected
representatives wake up and put an end to this corrupt usury system?
Quote 0 0
4 justice now
Unfortunately, our so-called elected representatives are awake. The real problem is that they're not about to put an end to the corrupt usury system. After all they certainly know better then to bite the hand that feeds them, or should I say... that feeds their election campaign.

IMHO

Quote 0 0
Agree!

Why would they abolish the OTS, the one agency that did appear to take some regulatory and enforcement action.

While others like the OCC, FTC and HUD did nothing.

Quote 0 0
What more can I say!  The proof is in the pudding!

The HUD Secretary is long gone!!!!

Quote 0 0
Write a reply...