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.
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MSFraud Admin
http://action.citizen.org/t/6693/campaign.jsp?campaign_KEY=27546

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Who's on First?

MSFraud Admin wrote:
http://action.citizen.org/t/6693/campaign.jsp?campaign_KEY=27546

Below was copied from the Link above:
I am fed up with the Wall Street firms and big banks that turned our economy upside down. Thanks to weakened regulations and ineffective oversight, the financial services industry was allowed to play by its own rules—and sometimes no rules at all.

We ended up with credit cards, loans and mortgages that were unfair and unsafe. Millions of Americans are losing their savings, their jobs, their businesses, and their homes. More than a year after the financial meltdown, our entire economy continues to suffer.

I am writing today as a constituent to ask you to support the Consumer Financial Protection Agency Act (H.R. 3126), which will be voted on in the House Financial Services Committee this week. This excellent bill will create a much needed watchdog for consumers and ensure more accountability from the financial industry by protecting employees who blow the whistle on wrongdoing. 

I also am writing to ask that you work to defeat the ill-conceived amendment proposed by Rep. Melissa Bean and any other measure that would strip the right of states to have stronger consumer protections than federal law.
Please do everything you can to make a strong Consumer Financial Protection Agency a reality, with the resources and independence it needs to make sure our economy provides long-term security for all of us, not just short-term profits for Wall Street.

Thank you!

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Ever notice?
The more Congress meddles, the worse it gets. Clueless stubborn people who refuse to listen to those that know about economics and are determined to force their will on all of us.

They know all about health care. Wait for the economic and emotional carnage on this.

One of their pet projects right now is to cap executive pay based on how well their companies do. According to Gallup, Congress has a 72% disapproval rating right now. When does Congress cut it's own pay to match the poor job they are doing? I figure the majority might be worth $10 U.S. dollars a year. They write laws for US that they don't follow. Right, Mr. Rangel?

Vote the bums out. Keep the very few that are worth keeping and toss the rest. We need a do-over.

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4 Justice Now

FWW:

 

I made a few changes (as noted below) and sent it along.

 

"I'm so far beyond disgusted with the Wall Street firms and Banks that have so very blatantly committed outright fraud and theft, and have driven our economy totally upside down. Thanks to dishonest, conniving, treasonous thieves that intentionally weakened the regulations, and mandated an environment of ineffective oversight, the financial services industry has been allowed to break all the rules, those of ethics and decency as well as to create their own rules while ignoring the very laws that were meant to protect the citizens.

 

There’s no doubt that we have been sold out by those in our government who took oaths to protect us. We the people have been forced to accept a system that uses credit, loans, mortgages as well as the court system itself as tools to strip away as much wealth as possible. Millions of Americans are quickly becoming mere debt slaves while they rapidly lose their savings, their jobs, their businesses and their homes.

 

More than a year after the financial meltdown (The Most Grand Financial Fraud), our entire economy continues to suffer. Yet, virtually no real action has been taken against the Wall Street criminals and others who planned and executed the largest fraud in history, as well as, those in our own government who aided and abetted them. No one is looking out for us, the working Americans.

 

I am writing today as a constituent to demand that you vote your conscience and support the Consumer Financial Protection Agency Act (H.R. 3126), which will be voted on in the House Financial Services Committee this week. This excellent bill will create a much needed watchdog for consumers and reinstate the accountability that has been so clearly absent from the financial industry by protecting employees who blow the whistle on wrongdoing. 

 

I also am writing to ask that you work to defeat the ill-conceived amendment proposed by Rep. Melissa Bean and any other measure that would strip the right of states to have stronger consumer protections than federal law.

 

Please do everything you can to make a strong Consumer Financial Protection Agency a reality, with the resources and independence it needs to make sure our economy provides long-term security for all of us, not just short-term profits for Wall Street.

 

Thank you!

 

V/r

 

4J

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Stephen

CFPA=barn door.  It's a dodge to avoid responsibility for the current damages.

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                        Consumer Protection Agency Bill Passes in Committee                                        

                                Consumer Protection Agency Bill Passes in Committee

                        Today
                       
                        By a vote of 39 to 29, the House Financial Services Cmte. has just passed HR 3126, which creates a Consumer Financial Protection Agency. When the markup resumes at 2pm ET, the Cmte. will take up the Expedited CARD Reform for Consumers Act (HR 3639).

source
http://www.cspan.org/
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Stephen

Oh good, another ex post facto agency to sleep through the next disaster!!!!  I suppose Barney thinks that absolves him of responsibility for the current disaster.

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h gosh

 

For Immediate Release:                                 

October 22, 2009                                              

 

 

Financial Services Committee Votes to Create the Consumer Financial Protection Agency

Committee strengthens regulation to protect consumers from deceptive and abusive financial products

 

Washington, DC — Today, the Financial Services Committee approved legislation that will establish a new, independent federal agency solely devoted to protecting Americans from unfair and abusive financial products and services. As called for by President Obama, the Consumer Financial Protection Agency (CFPA) represents one of the most significant efforts by Congress to bring about long overdue financial reform and ensure that Americans are able to take advantage of capitalism’s benefits without falling victim to industry abuses. As last year’s crisis demonstrated, deceptive financial products – such as predatory mortgages and hidden credit card fees – not only damage the livelihoods of American families, but can destabilize the entire economy.

The creation of the CFPA will finally put the interests of consumers at the forefront of the federal government’s attention and enforcement efforts. As outlined in H.R. 3126, the agency’s mission will be to promote a fair and transparent marketplace for financial products and to safeguard the American public from abusive industry tactics.  In an unprecedented move, the bill also extends federal supervision to a host of financial industries, such as payday lenders and mortgage originators, which have long escaped oversight. 

A summary of the bill, which was approved by a vote of 39-29, can be viewed here. The committee today also defeated a large number of Republican amendments intended to prevent or weaken the CFPA.

 “The Committee vote today is a rifle shot at abusive financial practices, not a shotgun blast that would hit community banks making an honest living from fair lending practices. It’s no surprise that the lenders with the worst practices are still fighting tooth and nail against this bill. The last thing they want is to have to make an honest living,” said Rep. Brad Miller (D-NC).

 

  “Protecting consumers is a must in any new financial regulatory system, and the Consumer Financial Protection Agency will help make that happen.  I commend Chairman Frank for his leadership on these issues, and I look forward to working with him and other Members as we move forward in the process to improve not only CFPA, but the rest of the financial regulatory reform package so we can strengthen protections for all consumers, investors and taxpayers,” said Rep. Dennis Moore (D-KS).

“We need a brand new agency with consumer protection as its sole mission.  A Consumer Financial Protection Agency that looks after the interests of consumers will also benefit responsible lenders and safeguard the safety and soundness of our financial system,” said Rep. Keith Ellison (D-MN).

 

Currently, consumer protection rule-making and authority is spread across several different agencies, all of which have failed repeatedly to use the tools provided by Congress to protect Americans. H.R. 3126 addresses this inaction by transferring consumer protection authority from the Federal Reserve and other banking regulators to the CFPA. The consolidation of these powers at the CFPA also ensures that financial firms will no longer be able to shop around for the weakest regulator to supervise their products.

 

In addition, the agency will closely monitor the marketplace for any new financial products or services that could potentially harm consumers as well as the larger economy. Once the agency identifies these threats or abuses, it will have the power to write rules that can regulate, restrict or ban them. It will also have the power to establish guidelines so that companies issue clear and fair disclosures to customers on products such as credit cards and mortgages.

 

For more information on H.R. 3126, click here.

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arkygirl
Other Exemptions

In addition to providing clear exclusions for securities, commodities, investment and general insurance products the following other businesses will not be subject to CFPA regulation for acting in their traditional capacities:

Accountants and tax preparers
Real estate brokers and agents
Lawyers
Auto dealers
Providers of IRAs, 401(k) plans, 529 plans and pension plans

A lot of folks that have been proven to have committed fraud in the past and were instrumental in getting us to the bad place we are in right now get a free pass.

Let the lying, cheating and stealing party carry on as usual. Very little help here for us. Thanks for nothing, Congress.






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That's right Arkygirl this scam is a money laundering shell game, looks like this agency is neutered out of the box.

As far is regulation and deregulation remember the government has chartered monopolistic powers to the lending system so asking them to regulate the monster they created is just asking for a nicer monster.

The only way to truly resolve the issue of lending and financial fraud on a massive scale is to end the FED/IRS system that feeds it. As long as the IRS has power to force the taxpayers at gunpoint to pay for the private bankers and GSE's mistakes theft and fraud at gunpoint we are just begging a dictatorial system to act a little nicer.

If we had a Constitutional money and taxation system we would have a checkbook dictatorship over the crooks.

The current role of the FED/IRS is effectively martial law to fund in 1913 WWI before it even began to transfer huge amounts of money and arms to both sides of the European conflict with little or no oversight or transparency. Our government lied about the purpose of the Fed and lied about its neutrality towards WWI as it knew the public not only opposed the war but favored Germany. Again our assets were seized and transferred to fund WWII both above board and under the table and again funding both sides Axis and Allies.

Were our homes stolen and economy looted to fund both sides of WWIII before it starts as well, look at the benefactors, China, and the Oil rich nations? Perhaps there will merely be an economic war or a transfer of power to avert war but either way the FED/IRS has again looted the U.S. and transferred our assets to potential enemies we may have to fight in the future perhaps even worse than that they hold the debt and control over the monetary system and our manufacturing, tech, service and job based has been transferred overseas along with our assets.

I think it's time to restore a legitimate, lawful government of the people, but don't be surprised to find we may need bargain with the Chinese, Saudi's, and E.U. and others that hold our debt that have gained backdoor control over our government and assets.

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