At JPMorgan
Chase, operations supervisors "routinely signed foreclosure documents,
including affidavits, certifying that
they had personal knowledge of the facts when they did not,"
according to the review.
As at Wells
Fargo, employees at JPMorgan Chase took on titles like "vice president of Chase
Home" even though "the titles were given by Chase for the sole purpose of
allowing individuals to sign documents, and came with no other duties or
authority." Once again, this constitutes
criminal fraud.
In one
review of 36 foreclosures at JPMorgan Chase, the bank was able to find
documents explaining what the borrowers purportedly owed, in only four cases. And in three of those four cases, the underlying documents proved incorrect! A representative at JPMorgan Chase declined
to comment.
Vice
presidents at Citigroup told the inspector general that some employees had "regularly" signed foreclosure
documents without reviewing them for accuracy. While the foreclosure procedures were
improved in 2010, the bank continued to employ outside law firms to file
foreclosure documents that were plagued by errors, the report concluded.
Some employees signed stacks of documents a day
without reviewing them. Unlike the
other major servicers, Citi never halted foreclosure sales. In 2010, Citi
told regulators that it had found its internal procedures to be sound, which
was of course a lie. (Lying to
regulators about such things is a crime.)
In a
statement, Citi said it was "making every effort to ensure that no foreclosure goes forward based
on an inaccurate or defective affidavit." Another lie.
The five bankster
banks that recently got off so easy with their sweet $25 billion settlement -- Bank of America, JPMorgan Chase, Wells
Fargo, Citigroup and Ally -- engaged "in a pattern of unfair and deceptive
practices," the complaint says, but refrains from any use of words like "criminal"
or "fraud."
Could it be
that the banksters in a sense already own
the U.S. Department of Justice? After
all, what else can you call a $25 billion fine, in punishment for a $100+
billion theft, except "sweet"?
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