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Knights of Columbus Targets BofA Foreclosure Actions in Knights of Columbus v. Bank of New York Mellon
Knights of Columbus Targets BofA Foreclosure Actions in Suit
Knights
of Columbus, a charitable organization and an investor in
mortgage-backed securities, is seeking a court order to learn more about
foreclosure practices by Bank of America Corp. (BAC), the biggest U.S.
bank.
Bank of America, which services mortgage loans on behalf of
investors, may be acting for its own benefit, Knights of Columbus said
in a lawsuit filed today in New York State Supreme Court. The bank also
may be harming borrowers whose loans were pooled and sold, and
“undermining efforts to restore economic prosperity to the country,” the
group said.
Mortgage services have come under government scrutiny
over their foreclosure and servicing practices. State officials this
week told the five largest mortgage servicers, including Bank of
America, that they may face lawsuits seeking $17 billion if they don’t
settle a nationwide investigation, according to a person familiar with
the matter who declined to be named because the talks are private.
Check out the rest from Bloomberg here...
From the complaint...
BACKGROUND – GENERAL ALLEGATIONS
Recent revelations from a variety of credible sources indicate that the Master Servicer may be acting for its own benefit rather than for the benefit of investors. Furthermore, the acts detailed below indicate that the Master Servicer may be damagingthe borrowers whose loans make up each Trust’s corpus and undermining efforts to restore economic prosperity to this Country.
BACKGROUND – THE NATIONAL FINANCIAL CRISIS
As this Court well understands, a national financial crisis exists, which was primarily caused by irresponsible lending practices and leveraging of debt on the part of the nation’s largest financial institutions. This financial crisis required an unprecedented federal bailout of the nation’s largest financial institutions, including the Defendant Trustee and the Master Servicer described in this Complaint. The Defendant Trustee received $3,000,000,000 under the Capital Purchase Program, while the Master Servicer received $25,000,000,000 under the Capital Purchase Program and $20,000,000,000 under the Targeted Investment Program.
BACKGROUND – THE NATIONAL FORECLOSURE CRISIS
As this Court also understands, a national foreclosure crisis accompanies the financial crisis. “The Federal Reserve considers the record rate of mortgage delinquencies, foreclosures and their impacts on communities an urgent problem.” See http://data.newyorkfed.org/creditconditionsmap/#.
Losing a home to foreclosure can be one of the most serious, stressful, and devastating events in a person’s life.
During the foreclosure process, borrowers should be treated with respect, and the foreclosure process should be performed in a manner that is honest, legal, and in compliance with due process of law.
BACKGROUND – ROBO-SIGNING
In a February 19, 2010 deposition in a Massachusetts bankruptcy case, Renee D. Hertzler, an employee of the Master Servicer, admitted under oath to signing seven to eight thousand legal documents a month outside the presence of a notary and without reviewing the documents prior to signing them. Ms. Hertzler testified “I typically don’t read them because of the volume that we sign.”
Ms. Hertzler further admitted to signing affidavits as the Vice President of the Defendant The Bank of New York Mellon when, in fact, she was not and never had been employed by Defendant.
Tam Doan worked on pre-sale foreclosures for the Master Servicer in Southern California. While his job required him to sign various legal documents, he primarily handled notices to delinquent borrowers that their loan was proceeding to foreclosure. His signature constituted an affirmation that the Master Servicer had reviewed the loan and it did not qualify for modification. Yet, Mr. Doan told CNN that “[w]e had no knowledge of whether the foreclosure could proceed or couldn't, but regardless, we signed the documents to get these foreclosures out of the way.” In some cases he claimed that he did not even know what kind of document he was signing. “I had no idea what I was signing,” said Doan. “Either you were in or you were out.”
On May 4, 2011, the Register of Deeds of Guilford County, Jeff L. Thigpen, surveyed various recorded documents filed with his office. Scores of filings in the name of Bank of America, N.A. were signed by Christie Baldwin. Filings in the name of Bank of New York Trust Company, N.A. were signed by Pat Kingston, who also signed for numerous other entities, including EMC Mortgage Corp., Citi Residential Lending Inc., Mortgage Electronic Registration Systems Inc., and Wells Fargo Bank, N.A. “Pat Kingston” and “Christie Baldwin” respectively used eight and twelve different signatures in Guilford County, including the following examples:
Full complaint below...
It's a great read...
www.4closureFraud.org
Knights of Columbus v. Bank of New York Mellon
»
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How is it that the accused (BAC) is having "private talks" with State officials?
Oh Yeah, money under the table.
Nothing like a little transparency, between strange bedfellows.
Nothing that a few pitchforks, bullwhips, and lots of rope couldn't fix.
Do you think Timmeh still prefers survival of the banksters over the rule of law? When they line those fuckers up, I want to be one of the guys aiming the guns at them! Let's clean this mess up and get on with a country where immoral and unethical people are punished for their misdeeds!
Just read paragraph 7 of the complaint, referring to the ongoing “beautification and canonization” of K of C founder Father McGivney. I hope the Judge (more likely, the clerk) can choke back the tears of laughter long enough to get to the good bits where the bankers rip off the widows and orphans.
Movie Name: Excalibur (1981)
Arthur: [to Kay] Ready my knights for battle. They will ride with their king once more. I have lived through others for far too long. Lancelot carried my honor, and Guenevere, my guilt. Mordred bears my sins. My knights have fought my causes. Now, my brother, I shall be... king.Quote:
I find the idea of knights very appealing.
You understand that we (members of the KofC) are a secret society within the Latin Rite Catholic Church?
Tam Doan Know - perfect name for a robo-signer...
The jesuits should protect the KOC, you would think. Who sorts this one out, bankers vs bankers masters pawns? I suppose the catholic church could declare crusade on banks haha.
Aha, the old false flag headfake. I knew there had to be a conspiracy in there somewhere. And if then if the Jesuits fail, then Red Shield, the Masons and the Elders of Zion could try.
I can't believe Linda Green's signature appears nowhere in that document!
it's a forgery of a forgery
I wonder is this particular fraud is covered under the AG agreements, or will it be a separate issue? I wouldn't be holding BAC long these days although "place" Holder will give Barry's BFFs at the TBTFs a pass. Or will this be delayed until the Statute of Limitations runs out? Inquiring minds want to know.
Never buy what Wall Street sells! (and visa-versa)
Does the word FRAUD come to mind. The banks should be charged.
Does the word FRAUD come to mind. The banks should be charged.
the K of C are my goombas
Christine Baldwin has nothing on Linda Green or Krystal Hall
Do you mean Crystal Moore? (aka the Mona Lisa robo signer who was a vice-president of ten of the largest banks in the world at the same time). She is my favorite by far...
http://www.youtube.com/watch?v=YhqJHvIFCTg
Yes, go get them.
Revoke the rights of these banks to service loans.
Take them down before the nation itself is taken down.
Restore morality, ethics, and the rule of law to banking and commerce.
Go brothers GO! Now it's time to get the Lions Club onboard.
Don't think we could get the Mason's on it though, i would think there are a lot of ring baring members in the banking ranks.