Author Topic: Suntrust Scandal  (Read 34281 times)

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citizensscience

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Re: Suntrust 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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Re: Suntrust Scandal
« 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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Re: Suntrust Scandal
« 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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Re: Suntrust Scandal
« 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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citizensscience

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Re: Suntrust Scandal
« Reply #84 on: February 27, 2018, 08:49:55 PM »
With respect to the prior post, why did SunTrust withhold investor funds for a period of time beyond the stated terms?

Was this cash flow related... given SunTrust had to refund the Fed $4.8B in Bailout Funding??





« Last Edit: February 28, 2018, 07:04:02 AM by citizensscience »
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citizensscience

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Re: Suntrust Scandal
« Reply #83 on: February 27, 2018, 08:09:40 PM »
#SunTrustScandal

Fed downgrades SunTrust twice, stripping STB's ability to hold Investors "Funds".   

Thus forcing SunTrust to give nearly 200 Investor deposit accounts to a competing, more secure bank.




SunTrust Mortgage, SunTrust Bank, FHLB fraud,
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citizensscience

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Re: Suntrust Scandal
« Reply #82 on: February 23, 2018, 08:02:05 PM »


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"??

Finally, Wells Fargo, US Bank, Double Pledged loans... Missing Notes...  and  Pends...

https://vimeo.com/citizensscience/mortgagemill





« Last Edit: February 23, 2018, 08:30:40 PM by citizensscience »
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citizensscience

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Re: Suntrust Scandal
« Reply #81 on: February 22, 2018, 04:46:33 PM »
#SunTrustScandal

Is your SunTrust Mortgage "Valid"?? 











SunTrust Scandal, SunTrust Mortgage, SunTrust
« Last Edit: February 22, 2018, 04:57:54 PM by citizensscience »
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citizensscience

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Re: Suntrust Scandal
« Reply #80 on: February 20, 2018, 11:20:31 PM »
#suntrustmortgagescandal  #Suntrustbank #suntrustmortgage

SunTrust Bank must say up all night wondering how they can unjustly enrich their corporate executives off the backs of their consumers...   

Live Smart...  Bank at "UnTrust"...






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citizensscience

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Re: Suntrust Scandal
« Reply #79 on: February 08, 2018, 08:10:13 PM »
SunTrust Mortgage runs afoul with its 2014 federal settlement agreement.   In 2014 SunTrust paid $320M to settle a criminal investigation into its bankruptcy practices and in total SunTrust shareholders watched as the actions cost SunTrust nearly $1.5 Billion in fines.

SunTrust exceeded the Error Rate in all four calendar quarters of 2016, additionally that the failure was widespread in each of those quarters.

Specifically SunTrust improperly collected default-related fees from borrowers. Those fees include property preservation fees, broker valuation fees, and attorneys’ fees relating to foreclosure and bankruptcy proceedings.

What exactly did SunTrust manipulate?

Beginning in December 2015 and continuing through January 2017, SunTrust changed official Bankruptcy Form 410A (i.e., Mortgage Proof of Claim Attachment to the POC) to provide information differently than contemplated by the official Form 410A.   

Specifically, SunTrust changed line 1 of Part 3 of Form 410A to read “Principal, Int & esc due” and then included in line 1 of Part 3 for each changed Bankruptcy Form 410A it filed a dollar amount representing unpaid principal, interest and escrow.

The official Bankruptcy Form 410A, in line 1 of Part 3, reads “Principal & interest due.”   This line 1 on the official form is supposed to be completed with a dollar amount representing only principal and interest outstanding at the time the relevant bankruptcy petition is filed, with escrow deficiency reported on line 3 of Part 3, and escrow shortage reported on line 4 of Part 3 of official Bankruptcy Form 410A.

The root causes for the alleged willful non-compliance: (i) SunTrust changing the Form 410A to present information in a format other than required by the Federal Form; (ii) changes made to the spreadsheet cells used by SunTrust to determine the escrow shortage, which caused the amounts to be overstated in a substantial number of the POCs originally filed; and (iii) inclusion of fees that were not coded as recoverable from the borrower in the SOR as of the bankruptcy filing date, which caused fees to be overstated in a substantial number of the POCs originally filed.

After a quick review of the Proof of Claim Form below one can see just how richly SunTrust was rewarded.







If you feel you are a harmed SunTrust Borrower, you might politely... call, text or email SunTrust Chief Risk Officer Mr.  Jerome.Lienhard@suntrust.com



#suntrustscandal #suntrustbankruptcy #wellsfargoscandal #bankruptcyscandal #suntrustmortgage #suntrust
« Last Edit: February 08, 2018, 11:01:55 PM by citizensscience »
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