Watchdog Says Banks Impeded Foreclosure Inquiry

[Hissyspit]

Source: Reuters

Watchdog says banks impeded foreclosure inquiry

By Aruna Viswanatha and Margaret Chadbourn
WASHINGTON | Tue Mar 13, 2012 1:08pm EDT

(Reuters) - Top banks impeded a federal inquiry into their foreclosure processes, according to a report released Tuesday, dragging their feet on turning over documents and blocking investigators' attempts to interview bank employees.

- snip -

But the banks hampered an early investigation into whether they were pursuing unlawful foreclosures through shoddy paperwork and lax controls, the inspector general's office at the U.S. Department of Housing and Urban Development said in its report.

Bank of America (BAC.N), for example, provided only excerpts of files, incomplete documents, and conflicting information to government investigators, and refused to provide some of its foreclosure policies.

It also limited employee interviews, and refused to let employees answer certain questions, the report said.

Read more: http://www.reuters.com/article/2012/03/13/us-housing-foreclosures-idUSBRE82C10L20120313

[GopperStopper2680]

1. Well of Course!

Of course the banks are pursuing illegal foreclosures! Most of the loans were illegal or at least 'sublegal' to begin with. To add insult to injury is the fact that if any one individual were to behave like that they'd be charged with Obstruction of Justice. Banks get away with it all the time or receive a two or three million dollar 'slap on the wrist' and an 'oh, don't do that! It's naughty!' From a judge that's probably in their pocket.
Meanwhile 3 out of four mortgages are underwater in this country and the banks are well on their way to creating a legion of the homeless. The easier to round them up and sweep them under the rug.

[sakabatou]

2. Not surprised.

[elleng]

3. Report from:

'the inspector general's office at the U.S. Department of Housing and Urban Development'

[truedelphi]

4. the woman who held top government posts in the nineties

and who noticed huge ties between HUD and the drug world ended up homeless herself. The government targeted her and the auditing company she ran, as they would rather punish the messenger than keep government operations up and running in a clean and profitable way.
The woman? Catherine Austin Fitts, who now runs the website www.Solari.com

[GiveMeFreedom]

5. Yo, B of A . . .

[h3]FUCK YOU!!![/h3]

fucking criminal organization!

[abelenkpe]

6. Noooooooo, really?

I'm shocked.

[mopinko]

7. shocked, i tell you!!

don't you fire all your lawyers if they don't try to deflect investigations? i know i would..

[valerief]

8. Another yawnorama from the Duh Files. nt