Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers
This petition had 659 supporters
Although increasing numbers of courts are continuing to reject improper and fraudulent foreclosures, the Congressional Foreclosure Panel examination of mortgage services and foreclosure practices did not include foreclosure lawyers.
Lawyers are officers of the court; knowledge of applicable laws and civil procedure is not required from mortgage lenders, nor loan servicers. In states that require judicial foreclosures, lawyers are the ones who file lawsuits to seize and sell property; and lawyers are responsible for filing and recording foreclosure property deeds.
An investigation could prove helpful to sorting out whether improper and illegal foreclosure proceedings are linked to any self-dealing conduct disadvantaging lenders, investors, homeowners, and city governments.
Inadequate or questionable foreclosure can lead to useless property deeds that impede real estate sales. Increasing numbers of title insurance companies are refusing to cover foreclosed properties; and certain mortgage default claims, are being denied because of defective foreclosure proceedings.
Attesting to the need for federal probe of foreclosure lawyers, are the extensive investigations of Florida foreclosure lawyer David J. Stern. Irrefutable proof of foreclosure fraud at the Stern law firm caused Freddie Mac, Fannie Mae and other lenders to remove their foreclosure files from that law firm.
Despite years of flagrant foreclosure illegalities, the Florida attorney general took no action until evidence was made public by investigative reporters at Mother Jones. But not even the finest investigative reporter can prosecute fraud; and the only adjustment to that appalling foreclosure situation, was the lenders' retrieval of their files and removal of their business from the Stern law firm.
Perhaps Florida's longstanding problem of foreclosure fraud has been not addressed because of inability to acquire essential information and evidence from mortgage lenders and foreclosure lawyers. As reported in the news, the court denied the Florida attorney general's power to subpoena the Stern law firm.
In all likelihood, Mr. Stern’s files that were removed by lenders contained information helpful to prosecuting fraud, and determining vital elements about mortgages and foreclosure that need to be addressed or curtailed.
Foreclosure fraud is not limited to Florida. Among conclusions contained in the 127-page Congressional Oversight report, all 50 State Attorneys General have the task of determining the scope and factors of fraud, and report those findings to the Panel. Because the lawyers are likely to prevent the discovery process, I say to AG’s, ‘good luck with that’!
Additionally, investigating foreclosure lawyers could reveal legal loopholes that need to be changed for creating remedies for the mortgage disaster; and reveal how possibly tens of thousands of families have illegally lost their homes and are now living on the streets, and in tents and shelters. Without including an examination on the lineage of fraudulent foreclosure, the banking industry may be brought to its knees, and take American citizens with it. BUT THE REAL PERPETRATORS WILL ESCAPE –AGAIN.
**Also see: "FORECLOSURES -Keeping It Real About Mortgage Lenders, Borrowers, Attorneys" http://www.scribd.com/doc/193007851/FORECLOSURES-Keeping-It-Real-About-Mortgage-Lenders-Borrowers-Attorneys
* CASE IN POINT –FORECLOSURE MILLS, JUDICIAL FRAUD, CONSUMER EXPLOITATION http://www.scribd.com/doc/193013513/CASE-IN-POINT-%E2%80%93FORECLOSURE-MILLS-JUDICIAL-FRAUD-CONSUMER-EXPLOITATION
Today: Barbara Ann is counting on you
Barbara Ann Jackson needs your help with “Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers”. Join Barbara Ann and 658 supporters today.