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New home buying scam targets downpayments and closing fees

Buying a home can be a stressful, nerve-wracking experience under the best of circumstances. If you’re nearing closing on a new home, don’t let that stress make you vulnerable a dangerous new home buying scam. There have been numerous incidents across the country in recent months in which a hacker impersonates a real estate agent…

via Home Buying Scam Targets Downpayments and Closing Fees — considertheconsumer

JPMorgan Chase and the Fed in Collusion: The National Mortgage Settlement Sham

JPMorgan Chase along with Wells Fargo and the other big banks should be given an ultimatum. Clean up your act now and compensate the homeowners that you defrauded or you will lose your national banking charter permanently. The corporate death penalty that David Dayen was referring to.

Livinglies's Weblog

Six years ago, in February 2012, JPM was fined $5.3 billion under the National Mortgage Settlement reached with Attorney General Eric Holder. It was one of those sweetheart deals that Holder cut over and over with the big banks — by imposing cost-of-doing-business fines, instead of criminal charges, in keeping with his “too big to jail” policy.

However, as financial muckraker David Dayen reports at The Nation, only $1.1 billion of that $5.3 billion total had to be paid in cash; “the other $4.2 billion was to come in the form of financial relief for homeowners in danger of losing their homes to foreclosure.”

Here’s the rest of the story: “JPMorgan moved to forgive the mortgages of tens of thousands of homeowners; the feds, in turn, credited these canceled loans against the penalties due under the 2012 and 2013 settlements. But here’s the rub: In many instances, JPMorgan was…

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