William Erbey, Chief Executive Officer (CEO) of Ocwen, is having a rough go of it with Benjamin Lawsky, the New York Banking Czar. When it became apparent that Erbey wasn't going to bow down to the Cuomo lapdog, Lawsky went for the jugular and brought the Securities and Exchange Commission (SEC). Back in June, 2014, SEC issued some two bit subpoenas; however, Ocwen's 10-Q wasn't exactly all that startling by way of comparison of those whom bribe --- ahem, meet with --- SEC Officials and are employed by the financial institutions. It is all a shakedown as I opined upon; however, Erbey just can't seem to get his proverbial dick unstuck from the zipper and most of us know that feeling. ;)
So, while Erbey is figuring out precisely how expensive the paperwork parade is, his pal William Shepro, Chief Executive Officer (CEO) over at Altisource is having his feet laid to the coals by the Consumer Financial Protection Bureau (CFPB). With the CFPB Complaints beginning to rocket off the charts, Shepro has got to be wondering whether or not the two could eventually become symbiotic. In this I mean The Talking Bills have surely had a drink or two and contemplated whether or not Lawsky and SEC might lean on CFPB to ask the questions they cannot.
Let me elaborate just a bit in the way that only a trained media professional like myself is capable of doing. Let's say you are a federal investigator and you believe that a house has evidence which you need; however, you have neither the time or patience or perhaps both to obtain a legal warrant. What do you do? Well, you call the Game Warden and have him kick the doors off the hinges to investigate poaching. Oh, don't act all surprised. This is the real world; this is the world I deal with daily in the Mortgage Field Services Industry. Yeah, so The Talking Bills have to be wondering whether or not that smoke alarm blinked just a few too many times, 'eh?! They know what that means and will have the sweepers check it tomorrow when I go to print.
So, I got to asking myself why is it precisely that Altisource is allowing Pat McTaggart to drag her stiletto high heels on the promises Altisource made to the Buczek Six? I mean why is it exactly that McTaggart is attempting to force Contractors --- owed in just the Buczek Six over a hundred thousand dollars --- to load each and every photo and email them along with all the notes to her PERSONAL ALTISOURCE EMAIL?! Oh, Pat, let's not play coy. You knew; your bosses knew --- EVERY FUCKING BODY KNEW --- that it was a stall tactic to buy the Buczek's time to sell their Derby New York Facility and then pocket the money and run! It is closing soon as we understand things. While we have no idea whom the seller is, the Buczek Source we have is extremely motivated to ensure that our information is primo.
Most folks don't remember the Bernie Madoff fiasco. 36,000+ victims. 6 years later not a dime has gone to anyone other than the rich whom didn't need the fucking cash. G-d bless Irving Picard and the Securities Investor Protection Act (SIPA). The Industry is somewhat like that. The difference is that Eric Holder cannot quash CFPB Civil Investigative Demands (CID) like he did when a federal regulator issued subpoena to JPMorgan pertaining to JPMorgan's knowledge vis-a-vis the Madoff fiasco. Nor would he want to. Why, you might ask? Well, as we gear up for the next political circus; the pretend event wherein
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