About damn time:...Mortgage processor pleads guilty to racketeering

[dixiegrrrrl]

Hot damn!!! I have been waiting for this to happen, for a couple of years now.

The state attorney general's office says Lorraine Brown pleaded guilty Monday in a Kent County circuit courtroom. She faces up to 20 years in prison when sentenced on May 2.

The state says that the 51-year-old Brown orchestrated a robo-signing scheme in which employees fraudulently signed another authorized person's name on mortgage documents to expedite foreclosures.
Brown pleaded guilty to a federal charge in Florida last year and reached a plea agreement on related state charges in Missouri.

Michigan Attorney General Bill Schuette recently reached a $2.5 million civil settlement with the parent company of DocX LLC, a mortgage processing company run by Brown.

http://www.crainsdetroit.com/article/20130211/NEWS01/130219974/mortgage-processor-pleads-guilty-to-racketeering.


DocX was a HUGE part of fraudulent foreclosures.
Now the question remains, what happens to the people who were illegally foreclosed upon?
The reality is, the banks which profited from fraudulent paperwork to foreclose will not..in fact, cannot..pay the money back.

[2pooped2pop]

1. you know what happens when you can't pay

The reality is, the banks which profited from fraudulent paperwork to foreclose will not..in fact, cannot..pay the money back.

we have to foreclose on the banks that can't pay the people back.

[dixiegrrrrl]

3. yeah, but remember,. those banks are "too big to fail"

and TPTB are afraid of collapsing the economy if the banks have to pay back their ill gotten gains.
Now what does THAT tell you about the real state of the economy?

[2pooped2pop]

5. it only tells me that the rich own the government

and I think the government is suppose to be for the people and by the people. Not for the rich, by the people bought by the rich.

[hootinholler]

2. $2.5M...

Pretty cheap for all those properties.

[CanonRay]

4. Notice it was a local prosecution and not DOJ

I say again, Eric Holder is less than worthless, he's corrupt.