Federal Regulators Sanction Over A Dozen Banks For Mortgage Misconduct and Negligence

http://reviewyourbankforeclosure.com | Federal banking regulators on Wednesday sanctioned many of the nation's largest banks over "a pattern of misconduct and negligence" in residential mortgage loan servicing and foreclosure processing."These deficiencies represent significant and pervasive compliance failures and unsafe and unsound practices at these institutions," the Federal Reserve said in a statement.The sanctioned banks are Bank of America (NYSE:BAC), Citigroup Inc. (NYSE:C), Ally Financial, the HSBC North America unit of HSBC Holdings (NYSE:HBC), J.P. Morgan Chase (NYSE:JPM), MetLife (NYSE:MET), PNC Financial Services (NYSE:PNC), SunTrust Banks (NYSE:STI), U.S. Bancorp (NYSE:USB), Wells Fargo (NYSE:WFC), Everbank, OneWest, Banco Santander's (NYSE:STD) Sovereign Bank and Aurora Bank, which together represent 68% of the market.The action was taken jointly by the Federal Reserve, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision, and found that the banks didn't hire enough workers, didn't adequately supervise outside lawyers, didn't ensure they had accurate foreclosure documentation and didn't stop foreclosure proceedings when warranted.The banks will be required to establish a wide variety of compliance programs and obtain an independent firm to conduct reviews of residential foreclosure actions. They will also have to ensure more effective communication between borrowers and banks when it comes to foreclosures and mortgage modification proceedings.There are no fines included in this action, which could come as a result of the related investigation being conducted by the 50 state attorney generals and the Justice Department. The fines being contemplated in that case have been rumored to total between $20-$30 billion.

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News & Politics

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• Mortgage Misconduct
• Mortgage Negligence

[HoneySiegalSurvivor]

@americanbandwidth It is a Rico scheme being manipulated by Barry as a crooked attorney from the estate of me deceased linked to the funding of 911. Media being muzzled as I have been. THEY STOLE ALL MY MONEY AND PROPERTY AND MADE RECORDS OF ME DEAD. The good news is that I have a special power of attorney which when enforced will save the USA. It was dissolved in 1999. We The People Against Corruption in the Campaign to Remove & Indict Barrry et al day 292 Mon. Apr.18/2011.

Honey Robin Siegal

[americanbandwidth]

If we, the people, gave the banks trillions of dollars, how is it that we all still owe them money?

We give them cash and still have to pay for the loans?

What the fuck is that?

Billions in bonuses to the heads of these banks as well and we still owe them?

Bullshit!

[Dewdaahman]

sanctioned..? what's that..? when your child does somethin' he/she isn't suppossed to do we sanction them..? punish them..? how were they punished..? to punish is to correct.. how are these banks corrected..? public spankings of the whole kit and kaboodle is definately warrented.. then seize their assets and divide them up evenly by those of us screwed and then go after those who allowed it.. "..shall be drawn to the gallows, not walking or carried.."

[HoneySiegalSurvivor]

I heard on the news 6 more banks in the US had failed this week alone! Who is behind this? Obama is engaged with Bank One Fraud which is JPMorganChase. A president who is an illegal alien doing "fundraising" in Chicago while the US is dying. I pinch myself. How are Honest Americans allowing this sheister to destroy US. We The People Against Corruption in the Campaign To Remove and Indict Obama et al day 290 Saturday April 16/2011. The fraudulent estate of me dead by attorneys source of demise. H