Coming Clean: How USDOJ Let US Bank And Five Brothers Skate

Five Brothers: Joe Bada and Tom Kalas Redux

Foreclosurepedia is releasing the entirety of the Sealed Qui Tam pending against Five Brothers, its subsidiaries and US Bank. Five Brothers, a National Association of Mortgage Field Services (NAMFS) Member, appears to be on a downward trajectory with respect to getting its House in Compliance. It is, though, in an upward mobility state when you simply search NAMFS within Foreclosurepedia. For years now, Eric Miller, the Executive Director of NAMFS whom is paid OVER ONE HUNDRED AND TWENTY THOUSAND DOLLARS PER YEAR AND CONSUMES NEARLY SEVENTY PERCENT OF ALL MEMBER DUES as an IRS 501(c)(6), has fought to never allow Ethics Investigations. We know this after filing an IRS 13909 Complaint against NAMFS for refusing to release their IRS Form 990. We see why, now. Pending Investigations by multiple states against yet another NAMFS Member, SEAS LLC for a $10,000 check which was sent via US Mail knowing there were insufficient funds, merely adds fuel to the fire. Perhaps the US Department of Justice ought to get off their collective asses and do some research instead of chasing boggy men in the Hood.

The Seal was released in April, 2015 and while we held it out of respect for the lawyers trying to get this act together, we have gone to press with it today. Over the next couple of days, Foreclosurepedia will dissect this Complaint in a way which only Foreclosurepedia is capable of doing. It is worth noting, though, that this Seal remained in place nearly a year to the day. More on point, though, when Foreclosurepedia reveals the mess in which the US Attorney General's office made; the debacle in my humble opinion, when we discuss the fact that the US Department of Housing and Urban Development's appointee did not appear to be able to find his ass with both hands, let's just say it is going to get dicey.

Foreclosurepedia stresses that this matter has not proceeded to trial nor has it seen the light of day in over a year. While Foreclosurepedia will opine upon it, we are neither lawyers nor dispensing legal advice. More on point, though, all defendants are presumed innocent until proven guilty.

It is definitely a brave new world. Later today, we release the additional litigation pending against Five Brothers with respect to a homeowner's death and the McCue Mortgage firing of Five Brothers.

Editor's Note:  Valorie Smith, Assistant US Attorney General, ensured that this suit never made it in front of a jury.

 

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