OCC Director explains how they are tampering with their foreclosure fraud

Bank Fraud Super Lord John Walsh (aka Director of the OCChttp://www.blogger.com/img/blank.gif, which creates and regulates national associations - criminal banks - such as Chase, BofA, Wells Fargo, and other N.A.s), ran for the caves in his opening paragraph in a prepared statement 9/19/2011 to The American Banker Regulatory Symposium in Washington.

http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-120.html

"Many months ago, when I agreed that the OCC would participate in this program, I did so with confidence that a new Comptroller of the Currency would be nominated and confirmed, and I would never have to write a single word to say to this audience. But the process did not work quite as I anticipated and here I am."

In other words, how in the hell do I get out of here, please help!!!

"Among the issues that will be front and center for the new Comptroller are mortgage foreclosure and mortgage servicing ...

"... The improper [criminal] practices in foreclosure processing and mortgage servicing that have come to light [they have likely known about this for many years] have major safety and soundness implications for banks ... they have had very damaging effects on the reputation of institutions involved ...

"When we announced the actions, I said they were intended to fix what was broken, compensate those who were harmed, and, where appropriate assess penalties for abuses [crimes]. We are doing just that. We have directed servicers to undertake major systems and processing improvements that will be quite expensive to implement. And servicers must provide restitution or other forms of remediation to borrowers who have suffered financial harm, with no limit on total cost." WOW. Strong statement. They better follow through!

"Engagement letters and action plans are the critical steps in resolving the foreclosure processing mess [crimes], but they lack the sex appeal of a big dollar settlement or the sound bite that summarizes the process in a word or two. Since it is not a story that lends itself to easy synopsis, I'd like to spend a few minutes highlighting its key elements."

Ok, I'm listening.

So he speaks about robo-signing, then he actually puts coals under the feet of Board of Directors of my former bank fraud lords, which is great.

"The orders ensure accountability. They were signed by each member of the board of directors at each of the banks, and each servicer was directed to establish a compliance committee including at least three of its directors, each of whom is accountable to the OCC and the Fed for the oversight and implementation of the corrective actions required by our orders.. The scope of compliance responsibilities that this committee is accountable for is extensive, and failure to deliver effective compliance can carry personal consequence for directors, as well as for the servicers." We'll see if they come even close to keep this up.

Here he admits that banks are stealing properties while the bank has agreed to modify their fraud: "For example, we are requiring servicers to establish a single point of contact for borrowers and to establish procedures to end dual tracking: that is, to ensure foreclosure actions stop when a borrower is approved for a trial or permanent modification."

Interesting ...

"But for homeowners who ended up in foreclosure, the critical issue is whether they were financially harmed due to servicer deficiencies, errors or misrepresentation and, if they were, what kind of restitution should be provided."

It is interesting that somehow the OCC's criminal banks were able to sneak this "deficiencies, errors, or misrepresentation" right by honorable judges, sheriffs, county auditors, county law clerks, attorneys general, prosecutors, and more.

And this is where he conceals evidence, tampers with the banks' crime, and minimizes the fraud, whereby he tries to make this serious crime look like it only happened in foreclosure matters, completely ignoring the originator's fraud, the servicer's fraud, and so much more:

"As we explored the best means of ensuring that injured homeowners had the opportunity to seek relief, it became clear that what was needed was a robust, transparent, and accessible complaint process that will give borrowers the opportunity to request an independent foreclosure review."

The thug bank fraud super lord is trying to ignore examination of origination and servicing! He is also avoiding the fact that thug banksters are stealing other properties like commercial real estate, cars, boats, and so much more.

"Homeowners who faced foreclosure of their primary residence will be able to request a review of their case if they believe they suffered financial injury as a result of errors, misrepresentations, or other deficiencies [crimes] in the foreclosure process between January 1, 2009 and December 31, 2010. Affected borrowers in this timeframe will be contacted through direct mailings and other tracing techniques. The independent consultants will also launch a coordinated advertising campaign to help contact borrowers who cannot be reached through direct mailings or other means." (This whole advertisement thing is impressive, seriously.)

I'd like to do an investigation of their so-called independent investigators.

Toward the end, he explains how the criminal servicer will continue to avoid discovery: "the servicer will provide relevant documentation related to the case and may be asked to clarify or confirm facts and disclose relevant reasons for decisions made or actions taken during the process." They better provide those documents to the victim for the victim to be able to present those documents as a defense in their case and as a claim against the regulator and all parties involved in the mortgage loan transaction.

"The OCC expects independent consultants to employ a robust quality assurance process and our examiners will review and assess this process on a continuing basis." Unbelievable, nobody should expect those fraudsters to immediately do a 180 going from committing serious fraud crimes to correcting their crimes by doing their own assessment of an independent reviewer that they hand pick.

"Thank you."

And no apologies, or please forgive-us's.



DISCLAIMER
I call the Director a Bank Fraud Super Lord, but to be fair to him, he can't really help it; he's in a system of corruption. The area where he has failed and become complicit in bank crimes is the area of BLOWING THE WHISTLE. There is no excuse for a person in that position to not scream loudly about its member banks defrauding everybody and everything.