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Homeowners often rejected under Obama's loan plan | McClatchy

2009-12-18T10:24:00.000-08:00

This is getting old...........Our country use to have a fair and balanced system, now money influences politics and Americans are subjects or serfs of the rich.

I have had enough we should boycott the banking idustry, lets all go back to CASH and stop financing things. We all need to learn patience as our unsustanable hunger of instant gratification is destroying our values.

Homeowners often rejected under Obama's loan plan McClatchy

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EMERGENCY!! PLEASE TAKE ACTION RIGHT NOW… SAVE BANKRUPTCY REFORM! - Mandelman Matters

2009-12-10T14:45:00.000-08:00

EMERGENCY!! PLEASE TAKE ACTION RIGHT NOW… SAVE BANKRUPTCY REFORM! - Mandelman Matters

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BREAKING NEWS: Amendment Allowing Judges to Modify Mortgages to be Included in H.R. 4173 – Wall Street Reform and Consumer Protection Act - Mandelman Matters

2009-12-08T13:54:00.000-08:00

BREAKING NEWS: Amendment Allowing Judges to Modify Mortgages to be Included in H.R. 4173 – Wall Street Reform and Consumer Protection Act - Mandelman Matters

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Bank of America Has "Good Excuse" for Not Offering Mortgage Modifications; HAMP a Spectacular Failure

2009-12-01T13:46:00.000-08:00

Bank of America Has "Good Excuse" for Not Offering Mortgage Modifications; HAMP a Spectacular Failure

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Follow the money: Bailout tracker - CNNMoney.com

2009-12-01T09:53:00.000-08:00

Follow the money: Bailout tracker - CNNMoney.com

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JUDGING INDYMAC – New York Supreme Court Judge Finds IndyMac’s behavior “repugnant, shocking, repulsive and completely devoid of good faith”. - Mandelman Matters

2009-11-24T15:05:00.000-08:00

JUDGING INDYMAC – New York Supreme Court Judge Finds IndyMac’s behavior “repugnant, shocking, repulsive and completely devoid of good faith”. - Mandelman Matters

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"Liberal" Consensus On Dumping Geithner?

2009-11-19T10:12:00.000-08:00

"Liberal" Consensus On Dumping Geithner?

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Busting Out The Joint

2009-10-29T21:26:00.000-07:00

Busting Out The Joint

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Loan Modifications: 500,000 or 1200? All right… ENOUGH is ENOUGH. - Mandelman Matters

2009-10-28T13:01:00.000-07:00

Loan Modifications: 500,000 or 1200? All right… ENOUGH is ENOUGH. - Mandelman Matters

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Foreclosures Are More Profitable Than Loan Modifications, According To New Report

2009-10-22T21:58:00.000-07:00

Foreclosures Are More Profitable Than Loan Modifications, According To New Report

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Feds threatened to oust BofA execs over Merrill deal - Washington Times

2009-10-21T08:41:00.000-07:00

Feds threatened to oust BofA execs over Merrill deal - Washington Times

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TARP Chief Elizabeth Warren Says We’ll Never Know Where TARP Funds Went - Mandelman Matters

2009-10-20T15:10:00.000-07:00

TARP Chief Elizabeth Warren Says We’ll Never Know Where TARP Funds Went - Mandelman Matters

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Inspector’s Report on Bailouts Says Treasury Misled Public - NYTimes.com

2009-10-05T11:06:00.000-07:00

Inspector’s Report on Bailouts Says Treasury Misled Public - NYTimes.com

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Investor Tired of Servicers Not Modifying Take Action - Mandelman Matters

2009-09-23T14:47:00.000-07:00

Investor Tired of Servicers Not Modifying Take Action - Mandelman Matters

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Kansas Supreme Court Sets Precedent – Key Decision Confirming ...

2009-09-22T12:43:00.000-07:00

Kansas Supreme Court Sets Precedent – Key Decision Confirming ...

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Why Obama Isn’t Breaking Up the Insolvent Banks

2009-09-15T09:34:00.000-07:00

Why Obama Isn’t Breaking Up the Insolvent Banks

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House of Representatives to Hold Audit the Fed Hearings

2009-09-11T12:39:00.000-07:00

House of Representatives to Hold Audit the Fed Hearings

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Judges’ Frustration Grows With Mortgage Servicers - NYTimes.com

2009-09-04T09:05:00.000-07:00

Judges’ Frustration Grows With Mortgage Servicers - NYTimes.com

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Loan Workouts Slide as HAMP Implemented

2009-09-03T10:41:00.000-07:00

Loan Workouts Slide as HAMP Implemented

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Geithner is Allowing Banks to Recapitalize on Backs of Homeowners, or… Games Bankers Play - Mandelman Matters

2009-09-03T10:10:00.000-07:00

Geithner is Allowing Banks to Recapitalize on Backs of Homeowners, or… Games Bankers Play - Mandelman Matters

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Lies and Damn Lies About Getting a Loan Modification - Mandelman Matters

2009-09-02T08:33:00.000-07:00

Lies and Damn Lies About Getting a Loan Modification - Mandelman Matters

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Bailout “profit” is taxpayers’ loss

2009-09-02T07:57:00.000-07:00

Bailout “profit” is taxpayers’ loss

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Bernanke’s Fed: The Only Decent Thing to Do Is to Deceive Us - Mandelman Matters

2009-09-01T08:15:00.000-07:00

Bernanke’s Fed: The Only Decent Thing to Do Is to Deceive Us - Mandelman Matters

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Our 10th Amendment Sovereignty Resolve Will Defeat the New World Order!

2009-08-31T17:13:00.000-07:00

Our 10th Amendment Sovereignty Resolve Will Defeat the New World Order!

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The (Intentionally) Misleading Mainstream Media

2009-08-31T15:06:00.000-07:00

The (Intentionally) Misleading Mainstream Media

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Call with CITI take 2

2009-08-31T09:54:00.000-07:00

So this is a call back we received on the previous CITI post
CITI- This is Jorge with CITI can you verify xyz?
Me- Yes
CITI- It looks as if you may qualify for a modification have you made any attempts
Me- Yes last week, I am still waiting for a call back.
CITI- I do not see anything in the system
ME- They told me I was not approved for the MHP program
CITI- Sir there is nothing in the system if they ran you through it would be in here
Me- I just did this last week on the 26th and I am telling you they told me I did not qualify but they did not tell me why
CITI- Sir we use the program from the treasury and it tells you if you are approved or not
Me- It is your company's program I know you do not use a program designed by the treasury
CITI- this program is form the treasury
Me- I know the program, what do you wan from me to see if you can help
CITI- Lets go over you financials
ME- Okay.........endless going over financials
CITI- You are right sir you do not qualify
Me- Why
CITI- Sure you do not qualify because you currently cannot afford the payment
Me- MY point exactly you are supposed to bring down the rate to a floor of 2%, then extend the term up to 40 years, and or use a principle forbearance or reduction (down to market value) to make the payment low enough so the front end ratio is 31%
CITI- Sir you need to have a current ration at 31% for us to offer a modification
Me- You are wrong that is not the program
CITI- Sir we need to add what you are behind into the loan so we cannot reduce anything
Me- This is incorrect information what is you managers name?
CITI-xzy blah blah have a nice day

Again this is a company that has accepted money from us the American tax payer and delivered nothing in return.

All the media talks about attorneys accepting advanced fees and how bad that is yet it is supposed to be okay that we have given Banks Billions n advanced fees and are getting nothing in return.

The banking industry that behaves in this manner should be shamed out of existence.
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Real Conversation with AHM- A recipient of TARP funds

2009-08-28T09:57:00.000-07:00

Called Lender and listened to the recording.
AHM- What is the purpose of your call?
Me- I am calling to see why this client was not reviewed for the makinghomes affordable program.
AHM- This client does not qualify for the making homes affordable program
Me- Why?
AHM- They just do not qualify
Me- You need to tell us why
AHM- they do not qualify
Me- Can you send us proof of why they do not qualify, the NPV test as wellas your attempts to the investor allow the making homes affordable programmodification.
AHM- If you want to be reviewed for the making homes affordable program youwill need to submit another package
Me- That is not fair you are saying they do not qualify but you want them tosend in another package
AHM- Sorry that is the only way
Me- This is no way to treat consumers after you have received tax payermoney (in the back ground I here there rep telling a client if they want to keep the home they need to pay)
AHM- I am the manager (Robert), this client does not qualify for makinghomes affordable program due to the investor not wanting to do themodification.
Me- Can you produce your request to modify the loan with the investor
AHM- You will have to contact our resolution department by fax 866-795-6529
Me- What will this do to help the customer
AHM- any complaints go to them
Me- So are you saying that you will not offer assistance to this homeowner
AHM- We did last May we were going to modify the loan but it would doublethe payments so we declined it because they could not afford the payments
Me- So you offered assistance that did not help them
AHM- No we offered to modify the loan pursuant to CA law
Me- Excuse meAHM- We are required to offer assistance to CA homeowners and we did
Me- That is not assistance that is like throwing a drowning person a weight.
AHM- Sir this is a neg am loan these people have the lowest payment on themarket
Me- It is a time bomb and you know it
AHM- Sir I do not have time for this have a nice day.

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AIG CEO: Critics of Taxpayer Funded Bonuses are “Lynch Mobs with Pitchforks”

2009-08-27T12:54:00.000-07:00

AIG CEO: Critics of Taxpayer Funded Bonuses are “Lynch Mobs with Pitchforks”

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Conversation with a rep from CITI mortgage

2009-08-27T11:21:00.000-07:00

Called CITI at 800-422-149x and was told that John was the negotiator on the file and was transferred to his extension and of course straight to voicemail.
I kept entering extensions until I was transferred back to the main line in the loss mitigation department and below is the conversation:
CITI- Hello can I get your name and loan number etc...
Me- Yes is is xyz thank you, I am calling about the status of the loan modification for this client.
CITI- I don't see anywhere in the system that we have talked to you, Have you sent in a package?
Me- Yes about 5 of them
CITI- Have you done financials over the phone?
Me- Yes 3 times and most recently last week
CITI- I see they filed bankruptcy that is why we can not find them, has it been discharged?
Me- Yes it was discharged over a year ago and you have proof of that it was sent in with the packages
CITI- Oh I see it looks as if the file was denied for a modification
Me- Why. We received a trial mod for this client
CITI- Yes but they were not approved
Me- Why did they send the package if they were not approved?
CITI- I am not sure I do not know
Me- Did you use the HAMP program?
CITI- Yes
Me- Can you show me the results of the NPV test
CITI- We do not know what that is
Me- Can I get the names of the Directors I want to write them a letter to explain how this customer is being treated
CITI- Hold on
30 minutes later
CITI- I spoke with my manager and you need to speak with John
Me- Can I get the names of the directors of CITI?
CITI- No my manager says we do not know that information

Now to me it seems as if the banks have no clue what they are doing yet they accepted our tax payer money so that they could offer programs to the American people.

It is bad enough that we are forced to help failed business in order to be offered assistance but when we as Americans are led to believe that this is the only way to get help and the help is not given it leads one to demand a refund of the money given to the banks!

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Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information

2009-08-27T11:20:00.000-07:00

Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information

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The Goldman VaR Exemption Question Escalates

2009-08-26T12:55:00.000-07:00

The Goldman VaR Exemption Question Escalates

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Zero Hedge Claims that the Federal Reserve ITSELF Traded Over a Trillion Dollars Worth of Derivatives in March Alone

2009-08-26T12:32:00.000-07:00

Zero Hedge Claims that the Federal Reserve ITSELF Traded Over a Trillion Dollars Worth of Derivatives in March Alone

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Geithner: Auditing the Fed is a “line that we don’t want to cross”

2009-08-26T11:06:00.000-07:00

Looks Like Geithner loves the FED...........GO figure.

Geithner: Auditing the Fed is a “line that we don’t want to cross”

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Did Attorneys “TURN BAD” in 2009? What… Is There Something in the Water? - Mandelman Matters

2009-08-26T10:57:00.000-07:00

The following quote is from Martin Andelman from his blog.
"According to the TARP agreement, that “net present value” formula, referred to as the “NPV,” is to be “transparent and disclosed”. It never is. Never. The banks say it’s “proprietary”. And yet Treasury has done nothing to enforce the requirement, which I’m told is a “violation” of administrative law”. Why not? Why not indeed.I received the above information from a Washington D.C. lobbying group that told me that they didn’t want to raise the issue because they didn’t want to anger the U.S. Treasury Department, but that I could raise the issue if I felt it worthy of being raised.They didn’t want to anger the U.S. Treasury Department by asking them why they weren’t enforcing the law, as established by the Executive Branch of the United States Government… the President of the United States. They didn’t want to anger the U.S. Treasury Department by asking them why they weren’t enforcing the law, as established by the Executive Branch of the United States Government… the President of the United States.And that’s all I’m going to say about that"

Our liberties are in our hands and I encourage all of you to voice you opposition to the banking cartel and start in your local community by recalling elected officials the that represent banks and campaign financiers over the "PEOPLE" they are elected to represent

Let us not forget that we elected them to serve us.

Did Attorneys “TURN BAD” in 2009? What… Is There Something in the Water? - Mandelman Matters

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Ben Bernanke: Advice for the Second Term - WSJ.com

2009-08-25T14:31:00.000-07:00

Ben Bernanke: Advice for the Second Term - WSJ.com

Looks like more of the same

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Analyst warns of 150-200 more U.S. bank failures

2009-08-25T13:31:00.000-07:00

Analyst warns of 150-200 more U.S. bank failures

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“True Deleveraging Has Not Begun Yet Because Losses of Financial Institutions Have Been Socialized”

2009-08-25T13:30:00.000-07:00

“True Deleveraging Has Not Begun Yet Because Losses of Financial Institutions Have Been Socialized”

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Loan Modification Misinformation

2009-08-25T12:43:00.001-07:00

Loan Modification Misinformation

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Problematic mortgage servicers slow loan modifications | Detroit Free Press | Freep.com

2009-08-25T12:43:00.000-07:00

Problematic mortgage servicers slow loan modifications Detroit Free Press Freep.com

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MY SWAN’S SONG: Testimony Before the United States Senate on the State of Foreclosures & Loan Modifications - Mandelman Matters

2009-08-25T12:19:00.000-07:00

MY SWAN’S SONG: Testimony Before the United States Senate on the State of Foreclosures & Loan Modifications - Mandelman Matters: "MY SWAN’S SONG: Testimony Before the United States Senate on the State of Foreclosures & Loan Modifications"

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2009-08-25T12:17:00.000-07:00

Upon completing an audit of a loan for one of our clients I noticed that there were two Truth in Lending’s placed in the file and both had the same date. As I review the information I see discrepancies in the information.
I am seeing this more and more and I am led to assume that a consumer would not know the difference. Upon completing the audit of course one fails and one passes.
I feel it is not enough for the bank to throw in a disclosure and assume the consumer can read and understand it.

We need to have attorneys review all loan transactions to ensure that consumers as well as lenders are protected.
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Judge Orders Fed To Disclose Who Received Bailout Trillions

2009-08-25T11:43:00.000-07:00

Judge Orders Fed To Disclose Who Received Bailout Trillions

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2009-08-25T11:26:00.001-07:00

Today it seems as if the banks are all coordinating together to milk as much money from the American people as they possibly can. It is very common for a bank to sit back and let a home go to foreclosure because they have no vested interest in the home other than the servicing fees.

The servicer sells the loan to the investor, the investor gets an insurance policy on the loan so when it defaults they get paid off. It is no wonder why they let the home foreclose it is a win win for the banks.

We need to hold banks accountable and stop letting them steal the liberty form the American People!
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