|
SELECTED PRESS RELEASE:
|
|
posted on:
1/20/2012 8:59:43 AM EST
|
Some thoughts on Securitized Mortgage fraud
mortgage fraud
 VISIT WEBSITE (learn more)
|
I noticed in the blogs I frequent that all the buzz seems to be about "Making a deal", with the big Lenders that caused all the foreclosure. "Let's make new rules". "Let's fine them big-time".
That all sounds well and good, but it brings about a few problems that I see:
• Making a deal
We may be making a "deal", with some of the same people that helped cause the problem in the first pace. What sort of a "deal", will be made?. Who's to guarantee that the same problems won't arise again in a different way? These guys are out for themselves. That's already been proven by the fact that they caused the problem 'cause they didn't do the "deals:, the right way in the first place. What about all the people that have lost their homes illegally in foreclosure? Will these "deals", help them get their homes back?.. I don't think so!
• Let's make new rules
The rules that govern securitized mortgages are already in place. The Trusts that the mortgages are put into, write their own rules, being derived from, but generally are even more restrictive than the rules and codes set in place by the Securities and Exchange Commission, (SEC), by the Uniform Commercial Code (UCC), and the Internal Revenue Service (IRS).
I fear that some of the same people that helped cause the problem may be writing the "new" rules. What new rules need to be put in place? The rule of "Let's screw the American public"? Oh wait -- they already did that!
• Let's fine them big-time
I don't care at this time if the government gets some money from the big lenders. In the long run, the fines they will pay will be a drop in the bucket compared to the money lost by homeowners. And it won't solve any of the problems. Will those fines help people get their homes back? I don't think so. Fines to the big Lenders mean nothing to people with lost homes. They want their homes back!
These companies have defrauded the American public -- including the government!
If you and I defraud not even the government , but anyone and we're caught, we go to the jail!
o Punish the defrauders with Jail time.
o Get peoples' homes back
I realize that getting all those homes back is not realistic, but something think about.
George
|
|
BUSINESS OWNER COMMENTS:
|
leave comment
|
|
** You need to be a member of IBOtoolbox to comment. Click Here to create free account.
|
 | | Great PR! Thanks for taking your time to share this. |
| | |  | | Your press release is very interesting. Best wishes with this
|
| | |  | | Great post George.
Al Sims |
| | |
|