OneWest or OneWorst Bank? An Insurance Conspiracy? You Be The Judge!

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OneWest or OneWorst Bank? An Insurance Conspiracy? You Be The Judge!

 

Written by John Wright

February 23rd, 2012

 

“They might be planning on living off your dead carcass.  It is a potential insurance conspiracy.” — John Wright

Do you recall my February 2nd post –  describing the judge who shouted “SIT DOWN!” to a homeowner during a TRO hearing?  Well — I finally received the stack of transcripts that immortalize Potentially Dishonorable Judge James Chalfant’s atrocious behavior toward the homeowner who was seeking a TRO based on overwhelming evidence of OneWest Bank’s improper actions.  My pet name for OneWest is “OneWorst Bank” – as the reinvented IndyMac Bank, OneWest was — in essence, founded by Angelo Mozilo as Countrywide Mortgage Investment.  And the apple hasn’t fallen too far from the tree.  OWB has also perpetrated foreclosure fraud in the past – click here for details  And they certainly did their best to earn the Federal Consent Orders against them from the Office Of The Thrift Supervision — for unsafe and unsound servicing and foreclosure practices – click here.

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Now you know why PennyMac was born.

OneWest Bank Bombshell! Potential Insurance Fraud Lawsuit! Assured Guaranty Sues OneWest Bank Over RMBS Servicing Errors

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They are not interested in you having a mod.  THEY WANT THE INSURANCE MONEY! They buy the loans for pennies on the dollar.  They want the insurance money because it will pay them what the house was worth at the top market value.  They bought the loan for its insurance value!  That is why I think Bank of Defrauding America bought Countrywide in the first place.  Do not believe they bought it to help the economy for one minute.  They bought it to help themselves!  The best part of this conspiracy is that the very same people running PennyMac are the very same people who ran Countrywide Home Loans – click here  Imagine that!  So they created the bad loans and now they are on the other end to collect again from the very same bad loans they sold to investors.  They might be planning on living off your dead carcass.

It is a potential insurance conspiracy.

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In this case, OneWorst Bank is apparently pretending they purchased the homeowner’s loan from the FDIC as Receiver for First Federal Bank of California, a failed Federal Savings Bank located in Santa Monica, CA.  The pleadings are an interesting read; the incendiary revelations certainly have launched a war between good and evil.  OWB maintains they purchased the homeowner’s loan from the FDIC as Receiver — but the paper trail shows that the loan was sold into multiple trusts.  Of course — the bank is covering that detail up – however surprising — it looks as though with the help of the FDIC and the United States Secret Service.

Apparently the two-sets-of-books concept is not foreign to IndyMac/OWB: Click here

The pleadings are loaded with evidence; this series of posts will start with the U.S. Secret Service’s role in the story, and the depth of their ineptitude – or collusion.  You decide.

United States Secret Service (USSS):

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The Secret Service is sometimes called in to assist on a mortgage fraud investigation given its governmental contacts and investigation procedures.  Representatives of the Secret Service have been involved in statewide and regional task forces to crack down on these illegal practices.  The Financial Crimes Division (FCD) of the Secret Service plans — reviews — and coordinates criminal investigations involving an array of financial crimes.  Contact information for this division of the Secret Service can be found by visiting –http://www.treasury.gov/usss/contact.shtml

Representatives of the Secret Service have been involved in statewide and regional task forces investigating mortgage fraud.  My tracker captured the following Google search term input by The Department of Homeland Security (DHS):

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The division of DHS that investigates mortgage fraud is The United States Secret Service.

Let’s return to the case at hand for a moment.  The evidence shows that the homeowner used (Company named removed) to double-check evidence she already received from another analyst. NMI concluded that her loan was first improperly sold into a Downey Savings & Loan Trust.  In March 2007 — triggered insurance apparently paid off the tranche (a portion of a mortgage-backed security with its own credit rating) where the loan was located.

In March 2007, the loan characteristics were also changed to a 30-Year Fixed Rate SFR loan and sold to another trust.  The 30-Year Fixed Rate SFR characteristic is important because the homeowner did not take out a 30-Year fixed rate loan — she took out an adjustable rate loan with a 40-Year term.  How does the contract between the FDIC and mirs cardOWB detail the loan?  If you guessed 30-Year Fixed Rate SFR loan, you’re right.  According to the pleadings, neither OWB nor the FDIC will state the asset detail in their contract specifying that the loan is a 30-Year Fixed Rate SFR is incorrect.  We can only conclude that is because it is correct – and they just didn’t think they would get caught with two-sets-of-books and instruments created for the same debt.

Upon receiving this information, the homeowner filed a complaint with the Department of Homeland Security — Secret Service Division as well as many other federal agencies.  I would too — if I made a Freedom of Information Act Request and received back from the FDIC evidence that they sold a loan — in my name — that I did not execute to OWB.

Now imagine a small desk in the corner of the Secret Service office building.  Sitting at that desk is a man who answers a phone that probably rings once a day.

This is how I picture Secret Service Special Agent Kei:

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At any rate, Agent Kei shared an email thread with OWB’s Head of Litigation Jennifer L. Gray, an exchange filed with the court.  On January 30, 2012 — at 8:43pm — responding to a call from Agent Kei –Ms. Gray emailed him.  Agent Kei responded at 8:57am the next morning. Somehow — Agent Kei had conducted a full and satisfactory investigation of the complex securitization issues involved in this complaint – overnight (see below). Ms. Gray and Agent Kei’s exchange makes you wonder whether the DHS is investigating the bank’s sale of multiple trusts – or protecting them from this discovery.

From: Gray, Jennifer.

Sent: Monday, January 30, 2012 8:43PM

To: albert.kei@usss.dhs.gov

Subject: xxoxoxoxo

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Dear Mr. Kei,

Thank you for your call today regarding xx xxxxx xxxxxx.

Enclosed please find a copy of the originally executed note and mortgage evidencing a loan that xxx xxx xxxxxx obtained from First Federal Bank of California in 2004, secured by property located at xxxx xxx xxxxx xx xxxxxxxxx xx xx. The Federal Deposit Insurance Corporation (“FDIC”) acquired this loan when it placed First Federal into receivership. In turn, the FDIC sold tills loan, along with the other assets of First Federal, to OneWest Bank. As part of this transaction, the attached original loan documents were delivered to OneWest. As evidenced by the fact that we hold the original note and mortgage, OneWest is the current owner of this loan.

Also, enclosed please find a copy of OneWest’s most recent letter to xx xxxxxx, which addressed some of the allegations that she appears to have raised with you. I’ve also enclosed a copy of a letter recently sent to xx xxxxxx by the FDIC, in which the FDIC confirms that the xxxxxxx First Federal loan secured by property at xxxx xxx xxxxx xxxxxxxxx xx was sold to OneWest.

As you know based upon your discussions with xx xxxxxx, this loan is severely delinquent and a foreclosure sale is scheduled for February 2, 2012. A reinstatement quote was recently provided to xx xxxxxx. If we receive the reinstatement amount tomorrow, we will make all efforts to stop the scheduled sale.

I hope that these materials address any questions that you had.

Best regards,

Jennifer

  • Jennifer L. Gray
  • FVP, Head of Litigation
  • OneWest Bank, FSB
  • 888 East Walnut Street
  • Pasadena, CA 91101
  • PH: 626.535.5526
  • FAX: 866.481.8451
  • jennifer.gray@owb.com

From: ALBERT KEI (LAX) [mailto:Albert.Kei@usss.dhs.gov]

 

Sent: Tuesday, January 31, 2012 8:57AM

 

To: Gray, Jennifer

Subject: RE: xxxxxx xxxxxx

Thank you Ms. Gray. Just for your information, I have repeatedly told xxxxxx xxxxxx that I do not see a criminality to her case and the Secret Service currently does not have any intentions of opening a case on OneWest Bank, but as a Federal Agent, I still must insure that I do my due diligence to any information that we receive. Thank you again and I will be in touch if I have any further questions.

  • Albert Kei
  • Special Agent
  • - United States Secret Service
  • Los Angeles Field Office
  • (213) 533-4531 -direct
  • (213) 434-3794- cell
  • (213) 533-4728- fax

Piggybankblog called Agent Kei and the Secret Service but they offered no comment.

Now just how did Agent Kei verify that OWB actually had the original documents?  Did he somehow break into the bank and dig through the files with a flashlight, sometime between 9:00pm on January 30 and 9:00am on the 31st?

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Or did he just take the bank’s word for it?

Note how Ms. Gray states that OWB is the holder, not the holder-in-due-course.  If she dropped the note on her way to her car and somebody picked it up, would they now own the note because they were the holder?

I highly doubt the borrower told Agent Kei she was in default as her pleadings state that she has been paying the mortgage payments into a separate escrow account until this mess is cleaned up.  My favorite part is the final wink-wink about doing his due diligence.

In sheer dollars, let alone misery, the fraudclosure crisis is probably the crime of the century, however young the century is.  Why have they put the investigation in the hands of Barney Fife from the Andy Griffith show?  Because the fix is already in with the banksters?

Does the Council find OneWorst Bank Guilty or Not Guilty?

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Therefore, it gives me great pleasure to announce to you that Piggybankblog.com and myself are announcing that we will be extending our protest to against OneWorst Bank.  I am now going to be the voice for all those who have been injured by OneWest Bank’s potentially irregular, fraudulent, illegal, and simply abusive mortgage practices.  

Please email me at piggybankblog@earthlink.net if you are a victim of IndyMac, First Federal Bank of California, La Jolla Bank, FSB, and of course OneWest – Worst! – Bank.  Please tweet and send the link to this page to all your friends and post on every OneWest Bank article comment section.

That would suck for OneWorst Bank if the homeowner actually ended up being a secret investigative reporter for CNN or something like that.  I guess Forrest Gump was right.  Life is like a box of chocolates.  I guess OneWorst Bank and the judge just never know which one their going to get. (Wink)

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In closing, I have now taken you out of the matrix.  I have now told you why they are not interested in giving you a modification.  It is because it is a potential insurance conspiracy!

Now what are you going to do about it?

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Update 01/31/13: Unprecedented Civil Jury Verdict Finds Major U.S. Bank Guilty of Fraud Bank Breached Mortgage Agreement in Case Brought by U.S. Govt. Fraud Investigator

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The below link makes you wonder if the same thing is happening with the sale of the FDIC loans to OneWest.

  1. Evidentiary hearing involving OneWest Bank discovers that there two versions of the original note.
  2. OUT OF THE MOUTH OF JPMORGAN CHASE: SCHEDULE OF LOANS PURCHASED FROM WAMU DOES NOT EXIST; NO ASSIGNMENTS OF MORTGAGE, NO ALLONGES OR ANY EVIDENCE OF TRANSFERRING OWNERSHIP OF LOANS FROM WAMU TO CHASE!
  3. Read Secret FDIC & JPMorgan Chase Bank 118 Page Purchase and Assumption Agreement for Washington Mutual Bank Uncovered
  4. Fair Oaks California Couple Had A Notable Victory In A Lawsuit Against OneWest Bank

Piggybankblog Protest Youtube:

Email: Piggybankblog@earthlink.net
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My name is John Wright AND I AM FIGHTING BACK!

All Rise! .The Honorable Judge Wright has left The Court of Public Opinion!

 

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4 Comments

  1. Craig Covert says:

    Wait ’til we expose ratings laundering to you John. It will put you in a bad “Moody”. Everything on this site is great; unfortunately it represents but a mere drop in the bucket.

    Identity theft on the front end to create the “loan” (just give us your SSN), bribery of the ratings agencies to dump the bad assets on the pension funds (who are only allowed to buy AAA rated securities BY LAW), getting guarantees from taxpayers (Fannie/Freddie) for 90% of the original mortgage balance, then purchasing multiple insurance policies up to 100x the value of the mortgage, then cashing in so big that there wasn’t enough money to pay it all off, so a bailout was constructed.

  2. Craig Covert says:

    Wait ’til we expose ratings laundering to you John. It will put you in a bad “Moody”. Everything on this site is great; unfortunately it represents but a mere drop in the bucket.

    Identity theft on the front end to create the “loan” (just give us your SSN), bribery of the ratings agencies to dump the bad assets on the pension funds (who are only allowed to buy AAA rated securities BY LAW), getting guarantees from taxpayers (Fannie/Freddie) for 90% of the original mortgage balance, then purchasing multiple insurance policies up to 100x the value of the mortgage, then cashing in so big that there wasn’t enough money to pay it all off, so a bailout was constructed.

  3. Sandy Jolley says:

    Hello John,

    I have been fighting the fraudulent, deceptive illegal practices of Financial Freedom and One West Bank for almost 8 years. They deny any and all claims of fraud even with documented evidence to foreclose and auction innocent (elderly) consumers and their families in reverse mortgages. They defraud the government and taxpayers of billions of dollars and consumers of their property and equity. This behavior is a financial disaster that is going to get much worse in 2013 and leave consumers and the families in bankruptcy with no where to live and the government and taxpayer in billions of dollars of debt to pay off lenders for 100% of their fraudulent, illegal fees. Anyone with a Financial Freedom reverse mortgage should get in touch with me through my website elderfinancialterrorism.com

  4. Sandy Jolley says:

    Hello John,

    I have been fighting the fraudulent, deceptive illegal practices of Financial Freedom and One West Bank for almost 8 years. They deny any and all claims of fraud even with documented evidence to foreclose and auction innocent (elderly) consumers and their families in reverse mortgages. They defraud the government and taxpayers of billions of dollars and consumers of their property and equity. This behavior is a financial disaster that is going to get much worse in 2013 and leave consumers and the families in bankruptcy with no where to live and the government and taxpayer in billions of dollars of debt to pay off lenders for 100% of their fraudulent, illegal fees. Anyone with a Financial Freedom reverse mortgage should get in touch with me through my website elderfinancialterrorism.com

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