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Judge throws out mortgage claims against big banks

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Mortgage Professional America | 19 May 2015, 09:50 AM Agree 0
A judge threw out claims against two of the nation's largest banks in separate mortgage bond cases
  • | | 19 May 2015, 11:42 AM Agree 0
    Some very large checks will soon be arriving in the judge's mailbox.
  • | | 19 May 2015, 12:43 PM Agree 0
    Protecting the big boys again. The smallish credit unions are already history.
  • Griff | | 19 May 2015, 12:48 PM Agree 0
    The more things change the more they stay the same.
  • Wm Matz | | 19 May 2015, 06:27 PM Agree 0
    Read this again folks. This is not over. Complaints are routinely dismissed and allowed to be amended, which is what was done here. they will amend the complaint to correct the standing problem without even needing to appeal.
  • Dominick F Sammarone | | 19 May 2015, 08:08 PM Agree 0
    This little "piggy-banker" ruined the MARKETS
    This little "piggy-banker" foreclosed on HOMES
    This little "piggy-banker" had ROAST BEEF Wellington
    This little "piggy-bankers" customer's had NONE.
    This little "piggy-banker" went "wee wee wee!" all the way HOME, in the Hampton's.

    Pig's eventually get slaughtered. Don't be a pig.
    This is my kind of pig roast.
    Dominick F. Sammarone
  • | | 19 May 2015, 10:53 PM Agree 0
    Unbelievable, since it was Bank of Bartlett, to Nations Bank to Bank of America, they hid themselves under so many haystacks / levels of corporations, but even the IRS cannot find them? They are one and the same, basically..... are they not? As the Department of Treasury?
    So the Department of Treasury asks for the documentation, and they cannot ascertain the requested documentation, can they not supena the documentation from the "Big Banks" without the consent of the Judge? They can supena documentation, the judge can refuse to admit the testimony or documentation to the jury, but I thought you only needed consent from the judge for search and seizure. I guess this is just too much logic.
  • | | 19 May 2015, 10:54 PM Agree 0
    WOW !!!! These is an UNDERLAY there for sure.
  • Victoria | | 02 Jun 2015, 10:21 AM Agree 0
    there are many layers of responsibility to this debacle. The investment bankers, government for wanting to keep the bubble going with unqualified buyers, banks, the greedy brokers, realtors who would not give me business unless I did their crappy, unqualified borrowers and put me at risk and the borrowers themselves who would do anything to get a house.

    I have been in this business for 30 years. I saw it coming when wholesale reps from the biggest banks wanted my business. They would present mortgages for 100% financing for illegals, extremely bad credit, you name it.

    I was too small a company to take the risk of having to buy back these mortgages, which If you read the print on the contract, I could have been made to do. I always played the straight and narrow. I didn't make the huge $$ that brokers did. I'm glad I didn't . The possibility of jail time did not appeal to me.

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