Saturday, October 3, 2015

Not on My Watch.

Our fine leaders, now that Holder's gone back to frank criminality, could jail the RCSwine for breaking contracts with the FDIC and knowingly entering into contracts they cannot and will not honor, with the express purpose of taking real estate from people who worked to buy it and worked to keep it.

This is not rhetoric. There's a specific homeowner whose address is in a blog post that exposed one of the ways Residential Credit Solutions obtains paperwork available to no one else on earth (because it doesn't exist) and uses it to take title to a property. The have it fabricated. The post, by David Dayen, is Proof of Ongoing Foreclosure Fraud and Mortgage Document Fabrication, in Five Emails .

Spread the word. Executives at RCS will do time.

But only if their victims rise up. If you don't know why they should, read on.

Friendly RCS in Fort Worth, Texas has you applying for a loan mod again and again for years, 'til you owe more in interest, fines and legal fees than you've ever seen in one place. They told you that would be tacked to the end of your loan term and paid off when you sold or refinanced your house, and that seemed fair. There'd be no interest on that either. That was a gift -- from HAMP and the taxpayers, not some crappy bill collector. But one day RCS decides it's time to pull the plug -- but they forget to tell you.

If you're in a nonjudicial foreclosure state, they can kick your bedroom door in one morning. You're out on your tail bone. That's California, most of the western states, New Hampshire, and a few others. It's called non-judicial foreclosure but should be called non-justice. If you're in a non-justice state, you might want to ask your legislators why that is.

Next, they won't just sell your house. It's time to turn it out like a pimp would. They sell it to an insider. He buys the fishnet stockings and the red lipstick, sells it again, and oooeee. $975,000. The loan might have cost them $200,000. The labor costs and overhead of a few hours a month at whatever call center sociopaths earn, for about 48 months? Call it $800. God willing, the next people who buy it will default, too, but that's only if they borrow from the right crooks.

Pigboy's RCS took $43,000,000 in the 2009 TARP bailout to lower rates, and they have spent less than 8% of that to modify loans as it was intended. The larger share of that sum went to RCS for the effort they put in. OUR money feeding HIS habits. That's US Treasury data. How long can they do this?

Not forever and not on my watch.

Stowe has little to be proud of. No one signs up to have their loans serviced by his company. People get dumped there. RCS has a 1 star rating on Yelp and a 1 star rating on Consumer Affairs. He's a greasy liar, as we saw in "Five Minutes with Dennis Stowe." There a lot of Americans who'd like five minutes with Stowe. And by the way, from what I can tell, his wife is about as sharp as a soggy chopstick.

He has defrauded the FDIC at least twice by taking taking sweetheart deals on the condition that he service loans right and do HAMP in good faith. That was not going to happen; I know of two such deals, PPIP and the AmStar deal a year later (2010).

If he took your house, explain it in a short paragraph and tell every legislator and agency you can. US Treasury. FDIC. SEC. CFPB. House and Senate at the state and federal level. Do not walk out. Make them call the sheriff. When the sheriff turns up, serve him with a copy of Proof of Ongoing Foreclosure Fraud and Mortgage Document Fabrication, in Five Emails  and sue him if he doesn't leave right away.

No comments:

Post a Comment

Have you had a go-round with RCS? (If you're willing to share any NPV input data you got, please let me know.(