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Suntrust Mortgage Scandal / Re: Suntrust Mortgage Scandal
« Last post by citizensscience 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,
Suntrust Mortgage Scandal / SunTrust Scandal
« Last post by Maggie Simmons 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. 

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.
Suntrust Mortgage Scandal / Suntrust Mortgage Scandal
« Last post by citizensscience 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??

Suntrust Mortgage Scandal / Suntrust Mortgage Scandal
« Last post by citizensscience on March 02, 2018, 08:32:52 PM »

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 -

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

Wells Fargo, SunTrust Mortgage
Suntrust Mortgage Scandal / Suntrust Mortgage Scandal
« Last post by citizensscience 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
2009 - CRFL Grants / 2009-H: DMF, CAMA Permit Review
« Last post by M. Beatty on March 01, 2018, 09:51:49 AM »
2009-H: DMF, CAMA Permit Review

CRFL Grant Request: $ 386,914 (YR1 $135,325 / YR2 $125,555 / YR3 $126,035)
Project Title: Minimizing Habitat Impacts Through Enhanced Review of Coastal Development Permits

Project Administrator: DMF, Anne Deaton

Project Description:  This grant will fund two positions in the Division of Marine Fisheries dedicated to reviewing coastal development permit applications to other environmental agencies including participation in pre-application meetings, site meetings, COE plan development teams, DOT merger teams, coordination and negotiating meetings, as well as interagency training This was a recommendation of the Coastal Habitat Protection Plan. Commenting on permit applications is a key tool that DMF uses to protect and sustain marine and estuarine resources.

DMF Website for 2009-H: CAMA Permit Review application:
2009 - CRFL Grants / 2009-H: APNEP, SAV Monitoring Protocols
« Last post by M. Beatty on March 01, 2018, 09:51:13 AM »
2009-H: APNEP, SAV Monitoring Protocols

CRFL Grant Request: $295,187 (YR1 $153,987 / YR2 $ 141,200)
Project Title: Development of a Performance-Based Submerged Aquatic Vegetation Monitoring and Outreach Program for North Carolina

Project Administrator: Albemarle Pamlico Natural Estuary Program Performance, William F. Crowell, Jr.
(APNEP, Dean Carpenter; ECU, Joseph J. Luczkovich; NOAA, W. Judson Kenworthy; NCSU, David Eggleston and Gayle R. Plaia; NC National Estuarine Research Reserve, Jill C. Fegley)

Project Description: This grant will help develop standardized, long-term SAV monitoring protocols and provide baseline and yearly variation data aid in research to evaluate environmental conditions that provide suitable submerged aquatic vegetation habitat.

DMF Website for 2009-H: SAV Monitoring Protocols application:
2009 - CRFL Grants / 2009-H: NCSU, Blueback Herring
« Last post by M. Beatty on March 01, 2018, 09:50:26 AM »
2009-H: NCSU, Blueback Herring

CRFL Grant Request: $44,665 (? Total cost or only YR1 ?)
Project Title: Spawning Characteristics and Reproductive Capacity of Blueback Herring

Project Administrator: NCSU,

Project Description: This grant will partially fund the study of spawning characteristics and reproductive capacity of blueback herring in the Albemarle Sound. The study will assess the reproductive capacity of different aged river herring and determine their ability to contribute to and help grow the stock populations.  (

DMF Website for 2009-H: Blueback Herring application:
Website unavailable.

2009 - CRFL Grants / 2009-H: UNCCh, Seed Oyster Planting Designs
« Last post by M. Beatty on March 01, 2018, 09:49:51 AM »
2009-H: UNCCh, Seed Oyster Planting Designs

CRFL Grant Request: $250,328 (YR1 $132,242 / YR2 $118,086)
Project Title: Testing alternative designs of planting seed oysters to optimize oyster reef habitat creation

Project Administrator: UNCCh, Charles Peterson

Project Description: This two year grant will fund research to develop a design for seed oyster planting on oyster reef sanctuaries to maximize the survival of the seed oysters and establishment of oyster reef habitat. Researchers will test planting different sizes of oyster seed at different times of the year on different sanctuary sites to see how size, season, reef location and environmental conditions impact survivorship.

DMF Website for 2009-H: Seed Oyster Planting Designs application:
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