Just last week, word hit the boards that an indictment came out of Boone County Missouri against DocX and its founder, Lorraine Brown. Ms. Brown also happened to be a Senior Vice President at Lender Processing Services. Most of the copies of the indictment found online were not conformed copies.

We can only hope that this is just the first of many that seek redress against those at the top of the food chain. While there are criminal charges pending in Nevada against some mid-level managers, this is the first so far against one of the major players at the top of the corporate structure.

Let’s hope its not the last.

Indictment against DocX

Indictment against Lorraine Brown

This morning, as usual, I checked my email box only to find it full of assorted research and articles from what I affectionately call the “Foreclosure Warriors Pipeline.”

Two of them on the surface are seemingly unrelated. On digging deeper, they are quite germane to each other.

Everyone knows there have been no federal criminal prosecutions against the upper echelons of leaders in the banking/lending/investment communities. Certainly, the SEC has filed fraud actions against them, but the SEC has no criminal enforcement powers. We know that many state Attorneys General have pursued fraud actions also, but so far, all we have heard from the Department of Justice is silence. It’s been generally assumed that the DOJ was in bed with the banking industry, but no proof surfaced, until now. Continue reading →

Recently, an article appeared in the Advocate, a magazine circulated to Idaho attorneys which supposedly addresses the legal concepts applicable in Idaho relating to fraudulent foreclosures. The author is described as specializing in complex financial transactions, and it is clear, her paycheck comes from representing banks.

Overall, the article is a puff piece designed to suggest that banking attorneys are correct in all of the tactics they use to attempt to defeat fraudulent foreclosure actions, and it references a case pending before the Idaho Supreme Court, Trotter v. BONY.  It repeatedly uses the inflammatory mantra that homeowners who resist foreclosure just want a “free house.” To date invocation of this horridly prejudicial phrase has served the banks well around the country, even though in most cases, the attorneys for the banks have absolutely no idea what the homeowner’s true intent is. Continue reading →

by Portia

How the banks are out to use the OCC to hide their crimes against homeowners

The hottest new buzz in the land of foreclosure fraud comes from a new program administered by the Office of the Comptroller of the Currency (OCC), the Office of Thrift Supervision (OTS) and the Federal Reserve (the Fed), all described as “federal regulators” on the site set up to advertise the program.

http://www.independentforeclosurereview.com/

This program is a supposed “free” opportunity for homeowners who were the victims of illegal foreclosures to be “compensated” for their economic loss. The site lists 16 banks/lenders who are participating in the program.

http://independentforeclosurereview.com/faq.aspx#FAQ4

The program is not available to everyone victimized by the banks’ fraudulent actions, and there is no promise that any compensation will be granted, nor how it is computed, and the “reviewers” are mostly multinational accounting firms like Deloitte, Touche, who have long been in bed with the major banking institutions. Apparently, no lawyers are involved, and there is no indication that anyone with legal training is involved (of course behind the scenes one can only imagine what kind of legal advice these lending institutions are being given in order to cut their losses on the backs of homeowners, once again). Continue reading →