When the Sub Prime Crisis began to churn out terms like Robo Signing, Adjustable Rate Mortgage (ARM) and Zombie Foreclosures no one would have thought to connect the dots. The average consumer thinks in time spans of perhaps weeks or months; Financial Institutions and Portfolio Holders — Real Estate Investment Trust (REIT) probably goes here as well — think in terms of years and generations.
Chaos is not always as it seems. For the first time in human history, the largest transfer of both property and wealth occurred under the Guidance of a Central Banking System whose sole objective was to protect their losses. No two ways about this. If the amount of money which was siphoned off from taxpayers would have simply been given to mortgage holders not only would most Americans own their homes today, but the Economy would be thriving as the payments normally made towards mortgages would flow into discretionary spending.
I digress. As the tide is turning with respect to political sentiment with respect to signing blank checks for Corporations whom shit in their own back yards — don’t even get me started on the Bubble we are currently in — the Consumer Financial Protection Bureau (CFPB) is beginning to crank up the heat with respect to Zombie Foreclosures. The true definition of irony is alive and well.
The very Financial Institutions whom have ponied up BILLIONS OF DOLLARS in fines, penalties and political junkets — yes, I said that — is now being challenged to clean up the homes which they terrorized the mortgage holders out of. And what happened when CFPB began to stretch their bureaucratic muscles in a positive way? The Financial Institutions contacted the Media Outlets and Politicians whom are beholden to them like a pimp barking out corner assignments.
The other side of the fence; the far more insidious side, is the Mortgage Field Services Industry wherein I both work and write upon. Over here, we are the Front Line in an unregulated, Mafia like shakedown scheme. In the same way the Dark Pools and High Frequency Trading outfits operate, the Mortgage Field Services Industry all originate under the umbrella of the National Association of Mortgage Field Services (NAMFS) Regime. To date, tens of millions of dollars have been attributed to fraud — not clerical fraud, the outright refusal to pay Contractors fraud — against both homeowners and Contractors utilizing, in part tax payer money. Simply take a look at Property Baggage, a website I put together to begin tracking Potential Contractor Liens for lack of payment to Contractors whom are owed, in part, monies from tax payers!
Here is the racket: Take Safeguard Properties (SGP). They are being sued by the Illinois Attorney General for fraud against homeowners. They are being sued for Federal Racketeering. They owe one Contractor alone over SIX MILLION DOLLARS in Minnesota! SGP sends out their hit men to target and harass homeowners that the Financial Institutions allege are behind in their mortgages.
So, with the shakedowns occurring on both the front end and now on the Zombie side, the end result is a Culture of Corruption wherein foot soldiers are waging a protracted and asymmetrical war on behalf of obscenely wealthy Clients whom never pay them anyway, defraud homeowners and pay off the politicians. Beltway Mentality at its best!