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Indiana couple accuses Bank of America of racketeering
IBJ.com ^ | 10/20/10

Posted on 10/20/2010 10:44:30 AM PDT by Kartographer

Bank of America Corp. and its Countrywide Home Loans unit were accused of racketeering in a lawsuit filed by two Indiana residents claiming that perjured affidavits were used to foreclose on their home.

Dwayne Ransom Davis and Melisa Davis filed the complaint Tuesday in federal court in Indianapolis. Their lawyer, Irwin Levin, confirmed the filing in a phone interview, but it couldn’t be independently verified.

“The defendants and their cohorts engaged in a pattern of racketeering activity in which they routinely and repeatedly prepared perjured affidavits in order to rapidly churn foreclosures,” the couple said in the complaint.

(Excerpt) Read more at ibj.com ...


TOPICS: Business/Economy; Crime/Corruption; US: Indiana
KEYWORDS: boa; dodd; foreclosure; foreclosuregate; frank; jpmorgan; mbs; mers; remic; tarp2; toobigtofail; wellsfargo
What they really need to worry about is if the 'Outfit' starts thing that they are trying to make a move on the loan 'sharking' operations it could start a war. ;-)
1 posted on 10/20/2010 10:44:33 AM PDT by Kartographer
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To: Chunga85; NVDave; stephenjohnbanker; M. Espinola; blam; Quix; 2ndDivisionVet; Lorianne

PING!


2 posted on 10/20/2010 10:47:01 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

What is going on with BofA? Is the WH going to shut them down? Not WH friendly?


3 posted on 10/20/2010 10:57:15 AM PDT by ColdOne (GOP. Gutless Old Politicians :^))...../When Obama fails America Wins)
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To: ColdOne

B of A is pro illegal alien. Let em eat cake.


4 posted on 10/20/2010 11:03:01 AM PDT by Frantzie (Imam Ob*m* & Democrats support the VICTORY MOSQUE & TV supports Imam)
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To: ColdOne; NVDave; stephenjohnbanker; M. Espinola; blam; Quix; 2ndDivisionVet; Lorianne; ...
TIME.com asks "Will the Federal Reserve Cause a Civil War?

Thanks for the ping!

5 posted on 10/20/2010 11:05:40 AM PDT by Chunga85 ("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
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To: Kartographer

Civil RICO actions carry treble damages.


6 posted on 10/20/2010 11:24:48 AM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: Frantzie
B of A is pro illegal alien. Let em eat cake. I forgot about that.. Thanks for reminding me. I never liked them to begin with. Grandmother had huge issues with them back in the day!
7 posted on 10/20/2010 11:36:33 AM PDT by ColdOne (GOP. Gutless Old Politicians :^))...../When Obama fails America Wins!)
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To: Chunga85

Thank You for that link!


8 posted on 10/20/2010 11:43:51 AM PDT by ColdOne (GOP. Gutless Old Politicians :^))...../When Obama fails America Wins!)
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To: Kartographer

Let’s ask the correct question: Were they making their house payments?

If not, what right do they have to complain about how the foreclosure paperwork was done?


9 posted on 10/20/2010 12:04:42 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: Chunga85; M. Espinola; 2ndDivisionVet; stephenjohnbanker; Quix; blam
In my personal opinion "quantitative easing" or QE2 is a complex propaganda term meant to deceive the public. "Quantitative easing" does not ease anything except make banks more flush with tons of paper currency at taxpayer expense.

In theory this action by the Fed loosens up credit. But today, hardly any mortgage banks are lending money without 20% down at a minimum combined with A+++ perfect credit. The only credit lines that are truly eased is bank-to-bank lending. In effect, this is a magnificent fraud on the public by The Fed and the international banking cabal.

But monetary burdens on taxpaying Americans are not eased -- they are increased exponentially.

How many $$$$ Trillions in Monopoly Money have been printed during the past two years by Bernanke ___ ?

Nobody knows. It's all a treated as a 'state secret.' Just like statistics on which banks are getting direct loans from the Federal Reserve. There is no transparency in our corrupt banking system.

The truth is masked by complex banking 'terms of art,' and pure Nazi-Like Propaganda -- designed to mislead, and smoke and mirrors. In short, its all lies . . .

A hat tip to M. Espinola for the news source above.

10 posted on 10/20/2010 12:06:31 PM PDT by ex-Texan (Ecclesiastes 5:10 - 20)
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To: donna
The article seems to be saying that the foreclosure was correct, just the process was wrong. It says they are not asking to reverse the foreclosure, just for monetary damages.

In other words a bunch of deadbeats are about to get wealthy, while us suckers have been paying our bills. What a dope I have been to save and pay my bills!
11 posted on 10/20/2010 12:09:56 PM PDT by Codeflier (Bush, Clinton, Bush, Obama - 4 democrat presidents in a row and counting...)
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To: ColdOne; Frantzie

B of A was the first to pander to illegal aliens, as they figured out how to charge them outlandish fwws for money wires, and other things


12 posted on 10/20/2010 12:11:17 PM PDT by stephenjohnbanker
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To: Codeflier

And the lawyers who cooked it up get rich.


13 posted on 10/20/2010 12:11:51 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: ex-Texan; Chunga85; M. Espinola; 2ndDivisionVet; Quix; blam

” In theory this action by the Fed loosens up credit. But today, hardly any mortgage banks are lending money without 20% down at a minimum combined with A+++ perfect credit. The only credit lines that are truly eased is bank-to-bank lending. In effect, this is a magnificent fraud on the public by The Fed and the international banking cabal. “

You nailed it.


14 posted on 10/20/2010 12:13:13 PM PDT by stephenjohnbanker
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To: donna
So if they commit fraud then what makes you think they won't commit fraud on you? And if they did what gives you a right to question their paperwork as you already diened the right to others? Lastly if you don't have to prove you own the mortgage what's to keep just anyone from foreclosing? Believe me if you deny the requirement to proved the legally required paperwork you will open the door to every fraudster in the world. But I again state the law requires that when you foreclose you proved to the court certain paperwork if you choose to ignore the law what good is it? Why have it at all? Hell why even require them to go to court, just allow them to send a bunch of thugs over and throw the 'dead beats' out. If the banks can ignore the foreclosure laws what other laws will they or you choose for them to ignore? I ask you one more question when the various fraud, forgery and prejury charges finally come to court do you think for one minute that the banks and their lawyers won't defend themselves using every shield that the law allows to limit their exposure? You think for one minute they won't be bank officials, lawyers, mortgage and security compnay officials pleding the fifth? In fact why have a trail for them we know that the commited these illegal acts so using your logic we should be able to skip the trail and just send them straight to jail! As I said I fear people like you and the damage you would do to the Republic by choosing to ignore the rule of law and take away the rights of others more than I fear the damage that will be caused by all the ‘dead beats’ and the crooked bankers and lawyers.
15 posted on 10/20/2010 12:25:27 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

Fraud should be punished.

But the delinquent homeowner is not the one who is defrauded. They have suffered no damage done by the bank.


16 posted on 10/20/2010 12:40:50 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: donna
They have been denied due process according to the law. You would legalize a court proceeding based of forged documents and perjury? What other laws would you allow the banks to ignore? Every state requires that the entity asking for the foreclosure be required to show standing and that they show that they in fact hold the mortgage that's all the banks are being asked to do and they can't do that. If you don't require at least proof anyone and I mean anyone can come forward with forged documents and mover for a foreclosure on anyone and you don't think that would lead to more fraud and then to chaos?
17 posted on 10/20/2010 12:48:55 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

Be cheerful, your way is what they are going to do. We will cough up more money to payoff the people not paying their bills - out of the pockets of those who do pay their bills.


18 posted on 10/20/2010 1:18:02 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: donna

The law is the law. Either the banks follow the law, or they suffer the consequences. Same with the home owner.

I don’t think you understand what you are saying. If someone can foreclose on something they can not prove that they have a right to, we are in for big trouble.


19 posted on 10/20/2010 1:47:03 PM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: redgolum

I’m saying the home owner has no standing. They were not damaged. They are just trying to get free money with the help of stinkin’ lawyers.

The investors are the ones that were cheated.


20 posted on 10/20/2010 2:30:53 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: donna

I am worried about my now clouded by Countrywide/BOA deed. It’s in MERS three times which means it was securitized and sold three times and to who? I am betting no one knows! Where’s the orginial paperwork the bank will need to clear my deed? Same thing most likely shreaded and recycled into toilet paper by now. What are the chances that they can clear the deed when I pay off? Almost next to none! I will have to fight and go to court and spend no telling how much money to clear the deed if it can be done so who pays for that? Oh yeah you say sue them and get it that way, but it takes money just to bring suit. Yes the ‘Dead Beats’ failed to adhere to a civil contract, BUT THE BANKS BROKE THE LAW! Big defference.

They clouded titles/deeds and made it were honest home owners may have to spend who knows how much money at payoff or if I try to sell to clear the mess up, but then I guess as long as you get your pound of flesh from the ‘dead beats’ that’s all that matters.


21 posted on 10/20/2010 2:45:27 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

We are discussing foreclosures where the borrower is not going to own the property to sell it.

Banks lose original documents all the time. They get a certified copy from the country recorder.


22 posted on 10/20/2010 2:51:51 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: donna

so what?

you have to establish OWNERSHIP.

Bank of America can not establish ownership because the multiple layers and trusts selling those notes. Ownership is untraceable. Ownership is 100% worthless documents.

the best Bank of America offers is to “indemnify” the home owner. An indemnification that is utterly not binding on the final holder in the chain of custody.


23 posted on 10/20/2010 2:59:15 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: donna
What do you mean No Standing? They are the only certain signatory of the contract! The party asking for the foreclosure are the ones that can't prove that they have any legally recognized connection to the contract.

Let me make is simple for you. You sell a house to someone and then they turn around and sell it on contract to a third person. The person you sold the house too comes and ask you to keep an eye on the house and collect the house payments keeping 5% for yourself for your trouble. After a few months this person sells the contract on the house to another party and leaves the arrangement with you in place and he forwards (or possible not) the payments new owner of the contract. After a couple years go by the person who brought the home on contract loose their job and after a few months he is in default of the contract. Who forecloses? Not you you just collect the payments and pass it on you have no standing in the contract. The person that had sold the contract has no rights any more. The person that brought the contract did not record the transfer of the debit to him so how could he have standing?

24 posted on 10/20/2010 2:59:24 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: donna

There’s the catch they didn’t file with the county recorders! Because they didn’t want to pay the fees!


25 posted on 10/20/2010 3:00:41 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: ColdOne

BofA is on double secret probation. (not a joke)


26 posted on 10/20/2010 3:03:25 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: Kartographer

Then the last recorded transaction identifies the lender/investor responsible.


27 posted on 10/20/2010 3:11:06 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: donna

So why are the mortgage companies and banks forging documents if all they have to do is go to the County Recorder and get what they need?

That being the case since Countrywide is recored on my Mortgage and Countrywide no long exsist and BOA can’t show they have the mortgage now because it was never legally recorded who can claim standing?


28 posted on 10/20/2010 3:15:53 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

MERS (mortgage electronic recording service) was created specifically to enable a shell game of fraud. (no employees, no documents)


29 posted on 10/20/2010 3:19:26 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: Kartographer

Laws already exist for these things. Courts will appoint agents or banks will takeover the loans and continue servicing the loans.

There is this:

Largest US Title Insurer To Demand Indemnity And Foreclosure Warranty From Banks
http://www.freerepublic.com/focus/f-news/2611347/posts


30 posted on 10/20/2010 3:31:49 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: donna

Court can only grant and act for someone who has standing. And they don’t have standing. You can’t both not have the legally required paperwork and have standing. Now maybe you might could go to court and be granted standing and be declared the rightful own of the mortgage, but until that happens and the court declares it’s yours to collect on you don’t have standing to force collection. Besides the people that the bank that sold the mortgage to in a security bundle may want to make sure they still have a lien or how are they going to get their money back?


31 posted on 10/20/2010 3:39:33 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: donna

Someone with out clear standing is trying to foreclose on their house. That is damage.

And it isn’t just those who have skipped payments. My friend back home almost lost his house because the loan was sold so many times, two banks thought they had the lien. And neither was paying the taxes. But someone was cashing the checks.

Lucky for him this was two years ago before the “crisis” and he knew a good lawyer. I know of a few people who didn’t and lost the house.


32 posted on 10/20/2010 3:42:49 PM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: redgolum

What damage?


33 posted on 10/20/2010 4:26:13 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: redgolum

What damage?


34 posted on 10/20/2010 4:26:17 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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Comment #35 Removed by Moderator

To: donna

OK if you are right and the legal and correct paperwork is easily obtained and or replaced please explain why so many banks and their lawyers commited forgery and perjury by both swearing and noterizing forgeries as being the required legal documents in thousands and thousands of foreclosure? Why would they risk GOING TO JAIL if the the fix was as easy as you say it is?


36 posted on 10/20/2010 5:27:25 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: ex-Texan
"Quantitative easing" does not ease anything except make banks more flush with tons of paper currency at taxpayer expense.

Since QE doesn't involve the Treasury, it doesn't involve taxpayer money.

The only credit lines that are truly eased is bank-to-bank lending.

If banks aren't lending, they don't need to borrow from each other.

But monetary burdens on taxpaying Americans are not eased -- they are increased exponentially.

Not really.

How many $$$$ Trillions in Monopoly Money have been printed during the past two years by Bernanke ___ ?

Nobody knows.

Unless you look at the latest Fed balance sheet and the balance sheet 2 years ago .

Just like statistics on which banks are getting direct loans from the Federal Reserve.

You mean the $15 million in Discount Window borrowings?

37 posted on 10/21/2010 1:38:38 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: donna

The county recorder does not record “Notes”. Only mortgages. With MERS, the chain of ownership for the “Note” has been broken - so the Note is no longer secured by the house.


38 posted on 10/22/2010 9:57:41 AM PDT by GYPSY286 (Politicians must USE their heads or Americans will LOSE their heads.)
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To: GYPSY286

So if the bank burns down everyone gets their house for free?


39 posted on 10/22/2010 10:20:18 AM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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To: donna

yes if the bank can’t prove it owns the note.

If a bank can “manufacture” a fraudulent note, forge signatures,notarties, etc.in order to foreclose, why couldn’t I make one up too and claim I own YOUR property and want to foreclose because you haven’t been making payments to me?

I’m not in foreclosure, my payments are on time yet I’ve chosen to contact BofA in writing to confirm they in fact have my note and own my note. I know I owe somebody but it may not be them. What if I get into a position where I can pay off my mortgage to BofA and later discover they didn’t own my note and then the entity that does comes after me for payment?


40 posted on 10/22/2010 1:26:36 PM PDT by GYPSY286 (Politicians must USE their heads or Americans will LOSE their heads.)
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To: GYPSY286

Which bank forged a note?

I guess you could try to tell the court that you signed the Deed of Trust and made payments but you never signed the note; therefore, you should get a free house, LOL.


41 posted on 10/22/2010 3:07:19 PM PDT by donna (The fruits of Feminism: Angry fathers, bitter mothers, fat kids and political correctness.)
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