Sunday, October 10, 2010

White House has Known about Mortgage Servicer Fraud, Did Nothing - Looked the other way! This Washington Post Article, touches a Little on the TRUTH of the MERS Foreclosure Fraud!

This article from Washington Post comes closest to the TRUTH of the MERS FORECLOSURE FRAUD of any MSM article so far of what is happening.  They Say the White House had Been WARNED about MORTGAGE SERVICER FRAUD/PROBLEMS! 

Did you catch that????  MORTGAGE SERVICER PROBLEMS!  Right there SAYS IT ALL!  MSM articles have been only saying Paperwork "irregularities".  But what they don't say is those irregularities are because the servicers are trying to cover up the Fraud of MERS foreclosures.

Small Portion of Article:

Consumer advocates and lawyers warned federal officials in recent years that the U.S. foreclosure system was designed to seize people's homes as fast as possible, often without regard to the rights of homeowners. 

In recent days, amid reports that major lenders have used improper procedures and fraudulent paperwork to seize properties, some Obama administration officials have acknowledged they had been aware of flaws in how the mortgage industry pursues foreclosures. 

But the officials said they could take only limited action to address the danger. In part, this was because they wanted lenders' help carrying out federal programs to modify mortgages that had fallen into default or were poised to do so. 

But government officials were told repeatedly that the mortgage servicing industry was deeply troubled, according to administration officials, consumer advocates, housing lawyers and congressional aides.
"Have we talked to them about servicer incompetence? Repeatedly. Have we talked to them how the servicer system is broken? Yes," said Ira Rheingold, executive director of the National Association of Consumer Advocates. "Have we talked to them about the costly stream of errors made by servicers? Yes."

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