Chase Loan Modification Fraud

“ Soon: too late to protest”

Since: Jan 09

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#227 Jan 31, 2013
2 posts removed

“ Soon: too late to protest”

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#230 Feb 17, 2013
harvey wrote:
Almost EVERY action of today's banking, investment, and insurance houses is fraudulent, with an eye only toward profit and contempt toward the American public.
They caused the recession, and should be held accountable. More banksters in jail, please! ASAP!
Absolutely!
The only way that's going to happen is that people have to get more aggressive and active than the bankers.
They're not going to just walk into prison. They're going to fight like hel because they have everything to lose. In some cases, their lives.

It's been a real shock to see just how pathetic the masses have become, so I'm not optimistic at all at this point. I keep putting out the info, but the idiot masses are determined to go through hell on earth before even protesting.

“ Soon: too late to protest”

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#231 Feb 17, 2013
Judge Rigged wrote:
<quoted text>JP Morgan Chase is one of the banks that make up and control the money supply, AKA THE FED! The Obozo Make home affordable was and is bullshyt and they have no intention of helping anyone. Furthermore if most people understood the mortgage process there would be a massive revolution tomorrow morning just like Henry Ford said. It's all a friggin scam and all of the politicians are dirty. The people allow this BS to happen now they all want out and while I agree how the F*** do we rid ourselves of these corrupt judges and lawmakers? HUH? Got any ideas because these c/suckers are all corrupt shytheads who drink at the fountain of SATAN! We are screwed. REVOLUTION NOW!
We have three choices;
- do nothing and go quietly into slavery.
- follow the lead of the idiot masses and wait until we just can't take any more, but then it would be a very bloody revolution.
- I've been telling people they have to fight back now to avoid that. The first step is some form of protesting. We know that protesting to 'End the Fed' is the best start because it's visible and forces the masses to actually think, wondering what that's all about. I've done that but the signs are ignored.

If you have thousands of protesters all saying that, neither the masses nor the media can ignore it. It's the best solution, but nothing has come of my years of pushing this idea in every way I can.
So, get ready to shed a lot of blood and lose a lot of people.
(next post)

“ Soon: too late to protest”

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#232 Feb 20, 2013
Homelessness Kills!
http://www.topix.com/forum/us/politics/TP67RE...
US Politics

“ Soon: too late to protest”

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#233 Feb 20, 2013
drink The hive wrote:
They Got A New FEE 4 U Son...
http://i.imgur.com/NwmZX.jpg
A WANTED poster for Jamie Dimon! Great.
If our legal system wasn't organized crime, that poster would be real.
(next post)

“ Soon: too late to protest”

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#234 Feb 20, 2013
The New World Order will fail
http://www.topix.com/forum/world/TTQ6M98DCHHT...
World News

“ Soon: too late to protest”

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#235 Feb 20, 2013
I am the Light wrote:
<quoted text>Your boy Obama and his commander Soros dictate to several banks. Chase is owned by the fraudulent Obama administration and you are owned by Satan.
You're just more proof that there's no such thing as an intelligent conservative.

People, don't let your brain rot from conservative propaganda.
Get the facts by checking the links about the Fed and the daily treason committed by the bankers.

(next post)

“ Soon: too late to protest”

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#236 Feb 20, 2013
www.legalparasites.net
protest
sign petitions
LEARN the truth so you can arm yourself with knowledge instead of relying only on guns like the idiot conservative masses are doing. They’ll lose and you could win. SMART is the answer, and their stupidity will destroy them.

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#237 Feb 25, 2013
Chase executives violate Obama’s loan modification laws, but are never prosecuted.
Banks got almost 8 trillion, homeowners get only billions, and most of it went to the lawyers.
(next post)

“ Soon: too late to protest”

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#238 Mar 3, 2013
Sue Banks for trillions!
http://www.topix.com/forum/topstories/T5A5P5P...
Top Stories

“ Soon: too late to protest”

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#239 Mar 6, 2013
Super Rich The Greed Game
@ 30 mins.- how home buyers and investors were both scammed by Chase Bank.
Republican idiot voters always blame the home buyers, but the fact is that they were deceived, and it’s the professional investors who knew better than to have blind trust of bankers, and failed to do simple investigations in what they were investing in.
(next post)

“ Soon: too late to protest”

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#240 Mar 23, 2013
What happened to my link?

Here it is again:
&fe ature=related

“ Soon: too late to protest”

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#241 Mar 23, 2013
Chase mortgage memo pushes ‘Cheats & Tricks’

The bank says it never backed the strategies, which detail how to get an iffy loan approved
A newly surfaced memo from banking giant JPMorgan Chase provides a rare glimpse into the mentality that fueled the mortgage crisis.
The memo’s title says it all:“Zippy Cheats & Tricks.”

It is a primer on how to get risky mortgage loans approved by Zippy, Chase’s in-house automated loan underwriting system. The secret to approval? Inflate the borrowers’ income or otherwise falsify their loan application.

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#242 Mar 23, 2013
The March e-mail was sent by Tammy Lish, a former Chase account representative in Portland. Chase fired her days after discovering she had sent it.
“I did not write it,” Lish said.“It was sent to me by another (Chase) rep in another office along with some other documents that were more step-by-step customer training documents.”
Even if the memo was penned by a single employee, it illustrates an attitude prevalent in certain corners of the mortgage industry during the boom years.
In the face of sustained and significant home price increases, much of the industry veered away from traditional notions of safe and sound lending.
Loan volume became as important as loan quality, particularly for the rank and file typically paid on commission.
During the boom, it was common for lenders and brokers to get paid more for risky subprime loans than for 30-year fixed-rate loans because the higher-interest loans fetched a higher price on Wall Street.

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#243 Mar 24, 2013
Chase, the nation’s second-largest bank, originates mortgage loans itself but also operates a wholesale arm that underwrites and funds loans brought to them by a network of mortgage brokers. The “Cheats & Tricks” memo was instructing those brokers how to get difficult loans approved by Zippy.
“Never fear,” the memo states.“Zippy can be adjusted (just ever so slightly.)”

The Chase memo deals specifically with so-called stated-income asset loans, one of the most dangerous of the mortgage industry’s innovations of recent years. Known as “liar loans” in some circles because lenders made little effort to verify information in the borrowers’ loan application, they have defaulted in large number since the housing bust began in 2007.
(next post)

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#244 Mar 25, 2013
Chase no longer makes any stated-income loans, part of the bank’s efforts to tighten its loan underwriting, Kelly said. It wrote down $1.3 billion in nonperforming mortgages at the end of 2007.
Lish said she sent out the document inadvertently.“The document was irrelevant by the time I sent it out because the company had ceased offering stated-income loans.”
The document recommends three “handy steps” to loan approval:
Do not break out a borrower’s compensation by income, commissions, bonus and tips, as is typically done in a loan application. Instead, lump all compensation as the applicant’s base income.
If your borrower is getting some or all of a down payment from someone else, don’t disclose anything about it.“Remove any mention of gift funds,” the document states, even though most mortgage applications specifically require borrowers to disclose such gifts.
If all else fails, the document states, simply inflate the applicant’s income.“Inch it up $500 to see if you can get the findings you want,” the document says.“Do the same for assets.”
(next post)

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#245 Mar 28, 2013
The Chase memo is “a perfect example of one of the big five banks out and out telling mortgage brokers to commit fraud,” said Todd Williams, a broker with Evergreen Ohana Group in Portland.“And this has been going on for years.”

Text of the memo
ZiPPY Cheats & Tricks...

If you get a “refer” or if you DO NOT get Stated Income / Stated Asset findings.... Never Fear!! ZiPPY can be adjusted (just ever so slightly)
Try these steps next time you use Zippy! You just might get the findings you need!!

• Always select “ALTERNATE DOCS” in the documentation drop down.
• Borrower(s) MUST have a mid credit score of 700.
• First time homebuyers require a 720 credit score.
• NO! BK’s OR Foreclosures, EVER!! Regardless of time!
• Salaried borrowers must have 2 years time on job with current employer .
• Self employed must be in existence for 2 years.(verified with biz license)
• NO non-occupant co borrowers.
• Max LTV/CLTV is 100%
(next post)

“ Soon: too late to protest”

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#246 Apr 1, 2013
Try these handy steps to get SISA findings ...
1) In the income section of your 1003, make sure you input all income in base income. DO NOT break it down by overtime, commissions or bonus.
2) NO GIFT FUNDS! If your borrower is getting a gift, add it to a bank account along with the rest of the assets. Be sure to remove any mention of gift funds on the rest of your 1003.
3) If you do not get Stated/Stated, try resubmitting with slightly higher income.
Inch it up $500 to see if you can get the findings you want. Do the same for assets.
It’s super easy! Give it a try!

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#247 Apr 2, 2013
The more power we let the Federal Reserve have, the more abusive they become, as they work to turn the U.S. into a police state.
(next post)

“ Soon: too late to protest”

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#248 Apr 2, 2013
The Fed plans to destroy the economy
http://www.topix.com/forum/us/TNTT0NJV32TJDOF...
US News

THE FED FEARS THE POPULATION WILL BECOME AWARE OF THIS FRAUD AND DEMAND CHANGE - beginning at post 80, page 4, http://www.topix.com/forum/us/TNTT0NJV32TJDOF...

THERE ARE SEVERAL SIMPLE WAYS TO ABOLISH THE FED - beginning at post 93, page 5

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