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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No wonder Hank Paulson was such a sweaty wreck when this started unraveling. The man was pasty and sweaty as he panicked Congress into covering the crimes of his former employers!

There had better be some perp walks or the people will revolt!

Posted by Stephen Gandel Tuesday, October 19, 2010 at 11:37 pm

More and more, Foreclosure-gate is looking like the housing bust's Enron.

One of the amazing developments of the unraveling of the financial crisis has been the fact that there have been so few people we can actually point to and say without a doubt that guy or gal is a crook. Yes, Bernie Madoff and his fellow ponziers, but they were only flushed out by the financial crisis. They didn't really cause it. The Bear Stearns hedgies beat their case. The mastermind of AIG's demise Joe Cassano looks to have made a clean getaway. Lehman's Dick Fuld is still in the clear. Goldman and just last week Countrywide's  executives had to pay out large fines. But none of them are headed to jail. John Paulson and other hedge funds that help construct CDO debt bombs and bet against them, haven't even been forced to give some of their winnings back. I can't think of anyone of any real consequence who is facing hard time.

Thanks to foreclosure-gate that may soon change.

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I seriously doubt any of them will have to pay for their "thieving".

Now if it was you or me, we would be automatically arrested for stealing a .25 cent pack of gum!

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The answer to the question about "bankers" going to jail is "don't count on it."

A company can't be charged with a crime and the executives can't be charged for a crime their employees commit unless someone can prove they conspired with or were instructed by the executive(s) to engage in it. 

Good luck with getting an admission.

More importantly, they are also insulated from the acts of the attorneys they use.

Lots and lots of civil actions but none of the top executives are facing a criminal investigation.


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