Author Topic: Suntrust Mortgage Scandal  (Read 31632 times)

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citizensscience

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Suntrust Mortgage Scandal
« Reply #94 on: March 04, 2018, 10:51:42 PM »


Did SunTrust originate your loan while it lacking authority from the Secretary of State? 

#SunTrustScandal

Is your SunTrust Mortgage "Valid"?? 











SunTrust Scandal, SunTrust Mortgage, SunTrust


SunTrust "Bogus" Loan Week...  Begins on Monday!

Do you have a Bogus SunTrust Loan? 


Begin forwarded message:

Date: February 23, 2018 at 7:55:21 PM EST

To: Jerome Lienhard <jerome.lienhard@suntrust.com>, jadams@mcguirewoods.com, abrackett@mcguirewoods.com, rcullen@mcguirewoods.com, joe.smith@mortgageoversight.com, Mark Chancy <Mark.Chancy@SunTrust.com>, jsmith@poynerspruill.com, reginald.leese@blackrock.com

Cc: bill.rogers@suntrust.com, jorge.arrieta@suntrust.com, margaret.callihan@suntrust.com, anil.cheriyan@suntrust.com, aleem.gillani@suntrust.com, susan.johnson@suntrust.com, ellen.fitzsimmons@suntrust.com, dorinda.smith@suntrust.com, boardcommunications@wellsfargo.com

Subject: SunTrust / Wells Fargo / US Bank & LED Billboards

Mr. Lienhard -

The Red really makes the "Revocation" of Authority stand out...

Kinda underscoring where the NC Secretary of State "Revoked" SunTrust Mtg's "Transaction Authority"...

Did you ever figure out if all those loans are of "No Effect" thus a "Nullity"??


« Last Edit: March 07, 2018, 06:19:51 PM by citizensscience »
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citizensscience

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Re: Suntrust Mortgage Scandal
« Reply #93 on: March 04, 2018, 09:20:44 PM »
Seeing that billboard made my day!!  To know people are still willing to stand up for what's right and take on a big corporation is so refreshing.


Thank you Maggie -

We hope you will share #SunTrustScandal with others and check back regularly.



SunTrust Scandal, SunTrust Mortgage,
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Maggie Simmons

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SunTrust Scandal
« Reply #92 on: March 04, 2018, 08:48:29 PM »
Seeing that billboard made my day!!  To know people are still willing to stand up for what's right and take on a big corporation is so refreshing. 

citizensscience

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DOJ Announces $149M Settlement over Fake Loan Scheme -
« Reply #91 on: March 03, 2018, 12:13:40 PM »
#SunTrustScandal

DOJ announces $149M settlement over Fake Loan Scheme...


Will SunTrusts longtime legacy Auditor Price Waterhouse Cooper be next?   

Or in an interesting twist SunTrust went to E&Y during this same time, thus could they be next?




The Justice Department announced today that Deloitte & Touche LLP has agreed to pay the United States $149.5 million to resolve potential False Claims Act liability arising from Deloitte’s role as the independent outside auditor of Taylor, Bean & Whitaker Mortgage Corp. (TBW), a failed originator of mortgage loans insured by the Federal Housing Administration (FHA) in the Department of Housing and Urban Development (HUD).

“With taxpayer dollars at stake, auditors must take their obligations seriously when auditing companies that participate in government programs,” said Acting Assistant Attorney General Chad A. Readler for the Justice Department’s Civil Division.  “When auditors fail to exercise their professional judgment, and make false statements that allow bad actors to remain in government programs and submit false claims to the government, there will be consequences.”

Under HUD’s Direct Endorsement Lender program, TBW was authorized to originate and underwrite mortgage loans insured by the FHA.  When a borrower defaults on an FHA-insured loan underwritten and endorsed by a Direct Endorsement Lender such as TBW, the holder of the loan can submit a claim to the United States to recoup losses resulting from the default.  To maintain its status as a Direct Endorsement Lender, a lender is required to submit to HUD annual audit reports on its financial statements and related reports on its internal controls and its compliance with certain HUD requirements.

Deloitte served as TBW’s independent outside auditor, and issued audit reports for TBW’s fiscal years 2002 through 2008.  The United States alleged that during that time period TBW had been engaged in a long-running fraudulent scheme involving, among other things, the purported sale of fictitious or double-pledged mortgage loans, and as a result, TBW’s financial statements failed to reflect its severe financial distress.  The United States alleged that Deloitte’s audits knowingly deviated from applicable auditing standards and therefore failed to detect TBW’s fraudulent conduct and materially false and misleading financial statements.  The United States alleged that Deloitte’s audit failures extended to the specific financial arrangements through which TBW carried out its fraudulent conduct.  By failing to detect TBW’s misconduct, Deloitte’s audit reports allegedly enabled TBW to continue originating FHA-insured mortgage loans until TBW collapsed and declared bankruptcy in 2009.

A number of TBW officials were criminally convicted in connection with the conduct at issue.

“HUD relies on auditors to ensure the soundness of participants in HUD programs. When CPA firms and auditors fail to detect fraud, waste or abuse the consequences are significant to federal programs, and, ultimately, to the American taxpayer and must be addressed,” said Helen M. Albert, Acting HUD Inspector General.

The claims settled by this agreement are allegations only, and there has been no determination of liability.

The settlement was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, HUD and HUD’s Office of Inspector General.

https://www.justice.gov/opa/pr/deloitte-touche-agrees-pay-1495-million-settle-claims-arising-its-audits-failed-mortgage
« Last Edit: March 03, 2018, 05:16:11 PM by citizensscience »
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citizensscience

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Suntrust Mortgage Scandal
« Reply #90 on: March 03, 2018, 10:25:01 AM »
SunTrust Scandal

Did you catch the significance of our prior post??

Exactly what did it say??

SunTrust Mortgage acting as the Servicer, on behalf of the Residential Mortgage Backed Securitization (RMBS) Asset Pool, as the party responsible for collecting borrowers monthly mortgage payments, handling property tax and insurance escrow payments etc...  May, to the extent it feels it can recoup them, advance payments to cover delinquent loans, in an effort to maintain a steady flow of revenue to the Certificate holders, while not being under any obligation to insurer or guarantee said loans.

Here's exactly what it said... 

SunTrust will "ADVANCE" payments to cover Delinquent Loans...

What bank do you know of that would out of the goodness of its heart make house payments on behalf of a delinquent borrowers?

Do you know of any shareholder that would allow SunTrust to make house payments on behalf of delinquent borrowers?

SunTrust acting as the Servicer, admitted its under NO obligation to insure or guarantee these loans.

Question becomes, why would SunTrust "Advance" Principle and Interest payments on delinquent loans?

Why is that??


« Last Edit: March 03, 2018, 10:46:39 AM by citizensscience »
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citizensscience

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Suntrust Mortgage Scandal
« Reply #89 on: March 02, 2018, 08:32:52 PM »
#SunTrustScandal





1) Did SunTrust take your mortgage and monetized it a second time without you knowing? 

2) Why would SunTrust, as the Servicer advance Principle and Interest Payments on loans, while admitting they are under no obligation to do so?

See below, via SunTrust STARM 2007-2 RMBS with Wells Fargo as Master Servicer and US Bank National as Trustee.





3) Below, Rep. Alan Grayson questions the Federal Reserve Inspector General where $9 Trillion dollars went... and Inspector General Elizabeth Coleman has no clear response.

Click for Congressional  Hearing - https://youtu.be/1QK4bblyfsc


Federal Reserve on Mortgage Backed Securities - Circa 1988...




Wells Fargo, SunTrust Mortgage
« Last Edit: March 03, 2018, 10:36:17 AM by citizensscience »
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citizensscience

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Suntrust Mortgage Scandal
« Reply #88 on: March 01, 2018, 01:14:17 PM »
SunTrust...  Double Pledged Loans and...  LED Bill Boards...

Did SunTrust and Wells Fargo "Double-Pledge" your home?? 

It's clear, the  "Culture" of SunTrust rests at the top, with the "Legacy" Executive Management Team and Board holdovers...

Meanwhile... former Governor reacts to "FAKE LOANS" and residential mortgage "Entanglement" allegations between SunTrust Mortgage / Wells Fargo...

Did Wells Fargo and its entangled Servicer SunTrust Mortgage pledge a FAKE LOAN against your home?

Who's your "NoteHolder"??




SunTrust Scandal,  Wells Fargo, Fake Loans, SunTrust Bank, SunTrust Mortgage
« Last Edit: March 07, 2018, 06:18:39 PM by citizensscience »
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citizensscience

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Suntrust Scandal and Wells Fargo
« Reply #87 on: March 01, 2018, 08:57:36 AM »
#SunTrustScandal




With our team of investigative volunteers we’ve received a few private messages asking in summary, is this real?  Is SunTrust really this crooked?  To those whom may have the same questions we share the below…

This effort began to investigate what were thought to be simple errors / non material violations of state and federal rule / law relating to SunTrust Mortgage.  Thanks to thousands of hours of research, official FOIA documents etc. Citizens Science has now assembled the single most robust investigation into one of the largest financial institutions within the United States.  All of no charge to consumers and perhaps SunTrust customers.

What is clear, the banking cartel is alive and well, buying off decision makers byway of SunTrust “Good Governance Committee”  (PAC / Lobby Fund) whereas SunTrust encourages its FTE’s to contribute a biweekly pretax payroll deduction.  Creating a mechanism to monetize employees used to “Contribute” to incestuous lawmakers.  It this incestuous relationship between dollars, deals and the DC Swamp that allow SunTrust executives and their Board to carryon these brazen schemes, chalking each up as just perhaps… “The cost of doing business”…

So to anyone who is wondering is this real, we will continue to unpackaged the facts, share the documents and connect the dots…  All allowing you the regular followers the opportunity to decide…

Is SunTrust “really” this Crooked, or are they simply “Criminal's” that were Too Big to Jail??

Be sure to bookmark / save this link and check back daily, as we have thousands of pages of investigative finding and we look forward to helping you determine if SunTrust perhaps leveraged your mortgage byway of illegally selling your promise to pay two, three or more times in the Residential Mortgage Securitization Markets (RMBS) while unknown to you.  All to allegedly, generate illegal assets and capital…

Finally, SunTrust the enterprise, has may hard working employees, managers and executives… Honest ones at that, to those who visit #SunTrustScandal daily and share with co-workers, we thank you.  Exposing the Legacy Leadership that remains in place at SunTrust and publicly sharing the facts will bring a much needed changes with regard to the “Tone at the Top”…

Its SunTrust alleged Criminal Capital Plan thats so problematic, such as…  1) Double Pledging (Selling) consumers mortgages multiple times,  2) Converted borrowers “Notice of Rate Changes” into Tier-1 Capital and 3) Grossly understated their ALLL

Mr. Jerome Lienhard, Chief Risk Officer and others are responsible for many of the below facts and fines, totaling over $1,500,000,000.00 Billion… Criminal’s… You decide…

Lets not forget, Wells Fargo acts as the Master Servicer in many of these mortgage pools, so it will be interesting to see what action enforcement action Wells takes as they have authority over SunTrust acting as the “Sub-Servicer”, or the party (STM) that collects your payments and or payoffs.  SunTrust as that party is suppose to forward said payoff funds up-line to the pools investors.  Stay tuned as will cover much of that soon…

Thanks for checking in - The Citizens Science Team



Company                        Primary Offense  Type   Year         Agency     Penalty Amount

SunTrust Mortgage, Inc.   consumer protection violation   2014 CFPB   $550,000,000

SunTrust Mortgage Inc.   False Claims Act            2014.    DOJ_CIVIL   $418,000,000

SunTrust Mortgage Inc.   mortgage abuses    2014.    DOJ_CIVIL   $320,000,000

SunTrust Banks, Inc.   banking violation            2014     FED   $160,000,000

SunTrust Mortgage, Inc.  toxic securities abuses    2013      FHFA     $65,000,000

SunTrust Mortgage Inc.   banking violation   2012  DOJ_RIGHTS      $21,000,000

SunTrust Bank   banking violation                   2017              FED      $1,501,000

SunTrust Banks   investor protection violation   2017             SEC       $1,100,000

SunTrust Bank, Inc.   wage and hour violation   2006            WHD          $350,875

SunTrust Bank   employment discrimination           2014            EEOC          $300,000

SunTrust Capital Markets Inc.   investor protection violation2006   SEC          $125,000

SunTrust Mortgage Inc.   wage and hour violation   2012   WHD                    $51,518

SunTrust Bank   economic sanction violation                   2005   OFAC             $40,423

SunTrust Mortgage, Inc.   discriminatory practices   2013   HUD.                   $36,000

SunTrust Bank   economic sanction violation                    2005   OFAC   $30,800

https://violationtracker.goodjobsfirst.org/parent/suntrust-banks
« Last Edit: March 01, 2018, 11:29:17 AM by citizensscience »
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citizensscience

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#SunTrust Scandal - “Robbing an Bank with a Pencil”….
« Reply #86 on: February 28, 2018, 10:04:31 PM »
#Fake Loans and SunTrust Mortgage...

Did SunTrust use your mortgage to perpetrate a it's "Fake Loan" Capital Scheme?

Stay tuned, we will soon illustrate just how SunTrust bridged its capital crisis by "Double-Pledging" residential "UnSecuritized" backed fake mortgages...

It seems SunTrust paralleled the path as outlined on CNBC's "American Greed"... With respect to "Inventing" #FakeMortgages to meet the Federal Reserves "Capital Requirements"...

"Lee Farkas was a mortgage mogul, a millionaire and chairman of Taylor, Bean & Whitaker.  But unknown to his clients, Farkas made his fortune by peddling fake mortgages and looting his company. American Greed takes you inside a multi-billion dollar scam!"

https://www.cnbc.com/video/2012/07/11/american-greed-financial-home-invasion.html




#suntrustscandal
« Last Edit: March 01, 2018, 11:31:08 AM by citizensscience »
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citizensscience

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SunTrust Scandal - "Too Big to Jail"...
« Reply #85 on: February 27, 2018, 10:18:56 PM »
SunTrust... Too Big To Jail... or not??

As Special Inspector General over TARP - Barofsky was "one of the most impressive and courageous political officials in Washington" for his willingness to "stand up to some of the most powerful people and institutions in Washington or on Wall Street." 

He "vigilantly fought for his independence as TARP watchdog and has been relentless in his criticism of Treasury officials and especially Tim Geithner."

The TARP program money was used to invest in and in some cases rescue a number of banks, the role of chief watchdog of the government’s $700 billion TARP program was to root out and prosecute waste, fraud and abuse.

Just like, much of what is being shared here...

There was just one problem...  SunTrust executives were at one time...  "Too Big To Jail"...


Click here for video - https://youtu.be/eADs8DqINuQ




« Last Edit: February 28, 2018, 07:02:45 AM by citizensscience »
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