Dylan Ratigan and Marcy Kaptur hit a home run in regards to fraudclosure issues on MSNBC's Dylan Ratigan show.

Dylan Ratigan and Marcy Kapture do a bang up job discussing foreclosure fraud, or as Dylan calls it, fraudclosure and securitization.

The very first sentence of the video clip... "It used to be that if you bought a house your mortgage would stay at a single bank while you paid it off..."

...completely jives with the point I made in a Swarm the Banks article that I wrote around the same time as this video was made.

I never saw the MSNBC video until just now, so it pleases me that my article two days ago about how mortgages used to be handled is spot on with what is depicted in the video that I just saw for the first time.

Three Important and Historic 2010 Home Foreclosure and Mortgage Servicing Congressional Hearing Videos and Running Transcript, CSPAN Links are here.

Not too many americans have so far visited these three very important CSPAN video and transcript archives about the fall 2010 congressional mortgage servicing and home foreclosure issues. So now it is easier to find all three, courtesy of Swarm the Banks and Parallel Foreclosure.

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CLICK HERE to go to NOV. 18, 2010 CSPAN3 ARCHIVE VIDEO of the HOUSE MEETING on MORTGAGE SERVICES and FORECLOSURE ISSUES.

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UPDATE: CLICK HERE to go to CSPAN ARCHIVE VIDEO and RUNNING TRANSCRIPT of the NOV. 16, 2010 SENATE MEETING on MORTGAGE SERVICES & FORECLOSURE PRACTICES HEARING.

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CLICK HERE to SEE the OCT. 27, 2010 CONGRESSIONAL OVERSIGHT HEARING, TROUBLE ASSET AND RELIEF PROGRAM, OVERSIGHT COMMITTEE HEARING on MORTGAGE SERVICING, HOME FORECLOSURES, and HAMP.

Did PHYLLIS CALDWELL POSSIBLY give FALSE TESTIMONY about HAMP? Has the HAMP PROGRAM and the LURING of HOMEOWNERS to HAMP that APPEARS to REQUIRE PARALLEL FORECLOSURE before a HOMEOWNER can even APPLY for HAMP a VIOLATION of the HOBBS ACT, the EXTORTION CLAUSE?

Here is an example of a Parallel Foreclosure or no deal, and it may also be a violation of the Federal Hobbs Act, the extortion clause.

Click here to read about the case of a homeowner who cannot get a HAFA approved because they are not late on their mortgage payments! Yet if the homeowner becomes late on their mortgage payment, parallel foreclosure kicks in. Therefore, in this instance parallel foreclosure is a prerequisite to the homeowner being accepted for HAFA.

If I am correct above, then that could be a Federal Hobbs act violation, the extortion clause. Luring homeowners into taxpayer funded government programs that require parallel foreclosure to occur before or during the loan process is a form of racketeering because it puts the homeowner closer to losing their home simply for trying to save their home through a taxpayer funded loan program.

WATCH CSPAN3 NOV. 18, 2010 HOUSE MEETING on MORTGAGE SERVICES and FORECLOSURE ISSUES.

WATCH CSPAN3 NOV. 18, 2010 HOUSE MEETING on MORTGAGE SERVICES and FORECLOSURE ISSUES.

(Edit Update - Nov. 27, 2010 11:05PM)

You can find congressional video and transcription links to all three congressional hearings on home foreclosures and mortgage service investigations by clicking here.

CSPAN3's coverage of the Nov. 16, 2010 Banking, Housing and Urban Affairs Mortgage Service & Foreclosure Practices Hearing.

CSPAN3's coverage of the Nov. 16, 2010 Banking, Housing and Urban Affairs Mortgage Service & Foreclosure Practices Hearing.

(Edit Update - Nov. 27, 2010 11:07PM)

You can find congressional video and transcription links to all three congressional hearings on home foreclosures and mortgage service investigations by clicking here.

Protesting Homeowner Handcuffed and Arrested at Banking, Housing and Urban Affairs committee hearing on Mortgage Services and Foreclosure Practices.

Excellent article by the AP with some really dramatic photos as well regarding the Banking, Housing, and Urban Affairs Nov. 16, 2010 committee hearing on Mortgage Services and Foreclosure Practices.

Check out my article about the above event as well and you also get a link to see the video of the hearing as well.

(Edit Update - Nov. 27, 2010 11:10PM)

You can find congressional video and transcription links to all three congressional hearings on home foreclosures and mortgage service investigations by clicking here.

Barack Obama's Team in Full Retreat on HAMP at a Las Vegas Foreclosure Summit, says why bother getting HAMP, you'd just default anyways!

(Edit Update - August 28, 2012 - 7:00pm) I am adding Vicky Henry's full quote just in case the link ever goes bad. 

"We need a Darwinian flush for the housing market to recover," Henry said at a Foreclosure Prevention Summit sponsored by the city of Las Vegas at Historic Fifth Street School. "We cannot start recovery from the middle. We have to start from the bottom and I think it's reasonable to say we haven't reached the bottom yet. We need to let the foreclosure process work with some regulation and let the market come down as far as it's going to go."

According to the Las Vegas Review-Journal, Vicki Henry of HUD appears to have changed the Barack Obama administration's viewpoint regarding the HAMP for HAMPsters program.

Whereas another Barack Obama team member, Phyllis Caldwell raved about HAMP on Oct. 27, 2010 at a Congressional Oversight committee meeting hearing, Ms Henry came right out and said at a Nov. 12, 2010 Las Vegas Foreclosure Summit that homeowners will probably default even when they are approved for HAMP.

Vicki Henry said "one of the problems with loan modification is that it delays the inevitable". If that is true, then just offer a universal HAMP program without the paperwork hassle, but let the homeowners know that in exchange for a lower mortgage payment, banks will begin parallel foreclosure paperwork just in case the homeowner falls behind.

After all, that is what the banks did anyways, they started foreclosing proceedings, (parallel foreclosure) before the homeowner was put through the paperwork ringer! At least even it up and don't waste the homeowner's time, effort, and huge amounts of money, many times for an actual NEGATIVE result.

Negative result as in the homeowner would have been better off not wasting the time and the hope for something that just accelerated their own foreclosure specifically because of parallel foreclosure practices.

To read the entire eye opening article, click here.

If the government and the banksters had really wanted HAMP to work, they would have combined the HAMP program with a low interest rate credit card debt paydown incentive program. I always have to explain this idea or inevitably someone will post, "if people paid for big screen tv's on their credit card, why should I help pay for that".

The point is a low interest rate credit card debt paydown incentive program means the consumer is paying their ENTIRE PRINCIPLE off, plus a much smaller interest rate charge, as long as their overall credit card debt decreases every month. Many people who can't get out of credit card debt can't get out specifically because of the interest rate charges.

Below is a comment I contributed to the comments section of that article.

Vicki Henry sounds like she would have fit right in at a Nazi World War II concentration camp. It's not her job to say, "this program that Barack Obama has taken credit for really doesn't work, so quit crying about it." Either don't offer the program, or offer it and make it work.

I am sick and tired of Barack Obama's poker face over life and death matters to over a million homeowners. How many of the homeowners who would "inevitably fail" even if they got HAMP might have succeeded if a credit card debt paydown incentive program had been offered at the same time as the HAMP for HAMPsters program had been offered?

Barack Obama OWNS HAMP because he took credit for it, and has periodically bragged about HAMP ever since. If the program is a fraud, he needs to be impeached for luring homeowners into a false safety net. The idea that anybody eligible for HAMP is a loser is absolutely an outrageous statement for Ms. Henry to make.

Swarm The Banks, Parallel Foreclosure.

Pinoy Homeowner Wins Against Lender in a Wrongful Foreclosure Lawsuit

Pinoy Homeowner Wins Against Lender in a Wrongful Foreclosure Lawsuit.

Don't mess with this cancer stricken, retired Filipino grandmother cuz she'll hire a lawyer and whoop the banksters arses. The reporter failed to mention that this was ANOTHER case of PARALLEL FORECLOSURE.

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Written Testimony of Chief of Homeownership Preservation Office Phyllis Caldwell Before the Congressional Oversight Panel | RealEstateRama

(Edit Update - Nov. 27, 2010 11:11PM)

You can find congressional video and transcription links to all three congressional hearings on home foreclosures and mortgage service investigations by clicking here.

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Written Testimony of Chief of Homeownership Preservation Office Phyllis Caldwell Before the Congressional Oversight Panel | RealEstateRama

I feel there are lies being told within the testimony of Phyllis Caldwell that may rise to the level of perjury. Parallel Foreclosure happens, yet Phyllis Caldwell portended that parallel foreclosure does not happen, and never even mentioned parallel foreclosure even though Chase Bank has ADMITTED they implement Parallel Foreclosure before a homeowner can apply for HAMP.

I also feel that the statement below, also by Phyllis Caldwell is a clever way to avoid lying. Caldwell simply repeats what the MHA guidelines are without admitting or denying if they are being followed. While this may not be a direct lie, it is grossly misleading, and in my opinion could be viewed as a lie. Phyllis Caldwell needed to mention that these guidelines ARE NOT being met by the banks, and by not doing so, has lied under oath.

Under MHA guidelines, participating servicers must evaluate all eligible homeowners for a HAMP modification before referring them to foreclosure. For those homeowners that were already in foreclosure proceedings, Treasury guidelines require servicers to stop the foreclosure proceedings while the homeowners are being evaluated for HAMP. Should a homeowner not qualify for HAMP (or if the homeowner fails or cancels the modification), participating servicers are required to evaluate that homeowner for alternative loss mitigation modifications, such as HAFA, or one of the servicer’s own modification programs. If a homeowner proves ineligible for an alternative modification, servicers are required to evaluate that homeowner for a short sale or deed-in-lieu of foreclosure.

If all of these efforts are unsuccessful, participating servicers may not proceed to foreclosure unless they have issued a written certification to their foreclosure attorney or trustee stating that “all available loss mitigation alternatives have been exhausted and a non-foreclosure option could not be reached.” Only after these steps are taken and the certification delivered, may the foreclosure process proceed.

Seriously, does anybody believe all of those steps mentioned above were followed, and in that order? The mere act of parallel foreclosure happening BEFORE a homeowner can apply for HAMP renders the above statement as being nothing more than words with no weight or bearing of reality, a lie in my opinion.

Please Download the Chase Bank Protest Flyer for FREE, and then all that needs to be done is just give a few copies out, it is really that simple.

Barack Obama and his apparent violation of the Federal Hobbs Act, the Extortion Clause, here is the official document from the department of Justice.

CLICK HERE TO GO TO DEPARTMENT OF JUSTICE FEDERAL HOBBS ACT.

It's really amazing to see how HAMP, Parallel Foreclosure, and 2403 Hobbs Act-Extortion By Force, Violence, or Fear, APPLIES to the Barack Obama administration's tacit luring of homeowners into the HAMP program, resulting in the loss of their homes!

Parallel Foreclosure Stories are pouring in from around the country, yet reporter after reporter is unaware of the term parallel foreclosure! Parallel Foreclosure is the key.

If the Barack Obama administration, (and maybe the George Bush administration prior), requires that americans MUST ALLOW PARALLEL FORECLOSURE TO OCCUR BEFORE THEY CAN EVEN APPLY FOR HAMP, then Barack Obama is using taxpayer funds to EXTORT HOMES from people under the color of right.

If the Banks are doing it without the administrations permission, then why does Barack Obama keep taking credit for HAMP, even as late as Oct. 27, 2010?

I realize now I will probably have to post this message hundreds of times before it slowly creeps into the american psyche via the media. And I believe I am not "spamming" a false message. I truly believe that Barack Obama is doing something so unethical that the Federal Hobbs Act identifies his behavior as being a violation.

If you were Barack Obama, would you continue to believe that the loss of a million homes to parallel foreclosure, initiated when a homeowner wanted to apply for HAMP, was an ethical act? If you were Barack Obama, would you be fearful that at some point there could be a groundswell of support for impeachment as the home foreclosure numbers of HAMP lured victims continues to grow into the millions?

What option is Barack Obama left with other than to pretend he hasn't violated the Federal Hobbs Act? Does Barack Obama have an option to bring up the issue of the Federal Hobbs Act violation first, before the media does, and somehow beg for forgiveness by explaining that George Bush Jr. did it too?

If rule of law actually works in the United States, at the very least, Barack Obama MUST address Parallel Foreclosure, HAMP, and the Federal Hobbs Act - the extortion clause. And if not, then at some point, reporters MUST bring it up to his administration, no?

My Email Response to Housing Wire dot com's Paul Jackson "A little bit of Sanity, Please" article.

My email response to Housing Wire's Paul Jackson "A Little bit of Sanity, Please" article.

Dear Mr. Jackson,

your article, "A little bit of Sanity, Please" Ignores the 17 income streams created by home foreclosures, nor does it address the violation of the Federal Hobbs Act regarding using taxpayer money to deceive americans into the loss of their homes, which HAMP clearly does.

I am "just a blogger", but I have read several hundred articles about the home foreclosure mess and have done enough research to discover that "parallel foreclosure" kicks in prior to a homeowner becoming eligible to APPLY for HAMP, this is a violation of the Federal Hobbs Act and should be an impeachable action as Barack Obama has had 18 months to correct this banking practice. HAMP is nothing more than a LURE to home ownership loss and this has now adversely affected over a million homeowners.

Rather than Barack Obama correcting the Federal Hobbs Act violation and asking for mercy, our president is EXPANDING the abuse of the Federal Hobbs Act by offering unemployed citizens the same joke of a deal that he has already offered employed homeowners struggling to keep their homes, replete with the "get 3 to 4 months behind in your payments before we will let you apply for our taxpayer funded programs, deal".

You have chosen to focus on a few aspects of homeowner complaints while ignoring the million or more homeowners who have been messed with in a very life changing way. But hey, if a million homeowners defrauded only represents 20% of the pie, I guess you consider that acceptable???

http://www.swarmthebanks.com

http://www.parallelforeclosure.com

http://swarmthebanks.blogspot.com/2010/11/exploring-how-barack-obama-has-violated.html

Barack Obama really steps into it big time with his Foreclosure comments.

CLICK HERE TO SEE ORIGINAL ARTICLE.

Read the comments section of this Huffington Post article called, Obama: More Aggressive Anti-Foreclosure Efforts would help People Who Don't Deserve it.

The comments are pretty much universally against Barack Obama, and many of the thousands of hostile comments are from his progressive base.

Foreclosure loan modifications: Miramar man gets home back after nearly losing it to (Parallel) foreclosure - South Florida Sun-Sentinel.com

Foreclosure loan modifications: Miramar man gets home back after nearly losing it to (parallel) foreclosure - South Florida Sun-Sentinel.com

I created parallel foreclosure dot com about a year ago specifically to highlight the injustice of what the banks (and as it turns out, with our own governments blessing) were doing to people who were applying for HAMP.

Unfortunately, the South Florida Sun-Sentinel did not use the phrase "parallel foreclosure" in their article even though that is what the fight to save the homeowners home was over so I have "inserted" the word "parallel" in parenthesis and in front of foreclosure. I find it frustrating that parallel foreclosure dot com has been around for around a year now and so few journalists actually even know about parallel foreclosure.

The Sun-Sentinel wrote...""We are so thankful," said Shamji, whose case was the focus of a Sun Sentinel article on Sunday about homeowners who thought they had saved their homes by modifying their mortgages only to lose them because the foreclosure process never stopped. (end quote from article)

This is called PARALLEL FORECLOSURE and it is UNETHICAL because the homeowner IS FORCED TO GET BEHIND ON THEIR MORTGAGE PAYMENTS just to be eligible to APPLY for HAMP, at which point Parallel Foreclosure KICKS IN!

And if you read the article please take note that it was Bank of America that could not stop a foreclosure division within its own company from going through with the foreclosure even though they knew the foreclosure was to be stopped!

Foreclosure Mom's first rap song, Foreclosure Tears, a powerful indictment of HAMP, see the video and read the lyrics below.

Below you will find the entire lyrics to the song "Foreclosure Fears", courtesy of Foreclosure Mom, who is the writer, publisher and peformer of the song, "Foreclosure Tears".

However, I first would like to focus on one particular section from the song lyrics as it relates to the fraudulent aspects of HAMP...here is an excerpt from Foreclosure mom's song, "Foreclosure Tears"

"You're not in default, your payments on time

In order to help you must fall 4 months behind."

Americans are taught in our Institutions to trust

So I listened to my bank and did what I must

With credit now ruined I called to apply

I was put on hold until I wanted to cry.....

-end of lyric quote

Although foreclosure mom has a sneaking suspicion that being required to fall behind on her mortgage payments before she can be eligible for HAMP seems ethically challenged and risky, (because parallel foreclosure kicks in), she along with 99.5 percent of all homeowners don't know what the danger is (parallel foreclosure) that awaits them.

Here are the lyrics to MOM RAPS "FORECLOSURE TEARS"

Here I sit all alone, and stare at the clock

Waiting for the moment when the sheriff will knock

Like so many others who manifested their dream

Convinced by the professionals in the great Wall Street scheme.

For the banks and the brokers, I had papers in hand

Tax returns, pay stubs, and maps of the land

Never had a loan and with the bank I debated

"Don't worry they said, that's why we go stated"

I gave unto them my bank statements piled tall

Oh no said the bank, we need nothing at all!

I thought to myself, how this could be

I was unaware of the paper feeding frenzy

Like so many Americans now living in shame

I was unaware of the securitization game.

All about finance I learned back in school

But nothing was taught about mortgage pools

The economy bad and about to go bust

I realized my loan was due to adjust

The bank reassured me, when my home I did buy

We will refinance you out of this loan, but that was a lie

I remember those words with angst and a frown

My home is underwater, completely upside down

I called up the bank to get justification

And ask them in fairness for a modification

"You're not in default, your payments on time

In order to help you must fall 4 months behind."

Americans are taught in our Institutions to trust

So I listened to my bank and did what I must

With credit now ruined I called to apply

I was put on hold until I wanted to cry.

After waiting forever and throwing a fit

I was given a list of documents to submit

I gathered up everything and faxed them my stack

After months of calling them, I finally heard back.

The response from the bank could not shock me more

A Notice of Default was nailed on my door.

Your foreclosure moves forward regardless they said

And your modification package has yet to be read

The day finally came when I was assigned agent Clarence

And soon the bank put me on a plan called forbearance.

For three months I paid more than I had paid before

But the uneasy feelings I couldn't ignore

Three months had passed with my payments on time

But what the bank did next should be a crime.

The bank needed financials and I asked them why

They answered because you may no longer qualify

What they said next went right to my core

In order to qualify I must pay $10,000 more

I sold many things big, medium, and small

The $10,000 booty, the bank got it all

I did all that was asked so our home we would save

I prayed every night and tried to be brave

I never imagined that at the end we would fail

But I knew it had happened when we received a Notice of Sale

The bank gave me a loan they said was a must

And they promised to change it before it adjusts

No court room, no judges, no madams or sirs

The money I owe is to a machine named MERS

My loan was bought many times, I know not the source

I will never find out who is "holder in due course"

So I loaded the cat, dog, and kids in the car

Took the last cash from our small cookie jar

I felt so alone, frightened, sad and so blue

If I could afford council, I would certainly sue

But alas, the bank won, their back gets a pat

No attorney for me they were counting on that.

Now read all about it and really get pissed

BOA pays 600 million dollars to investors on their list

Investors get their cash out of the toxic mortgage pool

While I lose my home and my son can't go to school.

Investors are not deemed to know the reps and warranties

Not required to notice the dotted i's and crossed t's

Borrowers they call us, folks like you and me

Servicer's say we're responsible, we signed the 1003.

Investors got paid and no one disputed

Homeowners speak up, we get prosecuted.

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Congratulations to Foreclosure Mom for a supreme first effort rap video about something that matters.

Modifying mortgage terms not so simple, Reports the Los Angeles Daily News back on Dec. 7, 2009.

CLICK HERE TO ENLARGE HEADLINE.

It is important to remember that as far back as early 2009, homeowners were discovering that HAMP, DID NOT WORK. The above article, written by Susan Abram, was on the front page of the Los Angeles Daily News on Monday, December 7, 2009 and involved research and a recap as to just how ineffectual HAMP had been since earlier in that year.

Because the term Parallel Foreclosure was almost completely unknown back then, it is important to realize that the disconnect between homeowners getting into HAMP before their homes were foreclosed on was almost impossible because the banksters were practicing PARALLEL FORECLOSURE! As the sub headline states, "Process is too slow to save homeowners from losing their houses."

It is fascinating to go back in time and find these articles and realize that the key word, Parallel Foreclosure, was not used even though what the article describes is parallel foreclosure in action. When Did Barack Obama know about Parallel Foreclosure and why, over 10 months after the above article ran, has parallel foreclosure been allowed to go on?

Parallel Foreclosure basically ensured that MOST of the HAMP applicants would not get their mortgage modified, but would face a HIGHER CHANCE OF LOSING THEIR HOME even as the government, and Barack Obama, teased them with HAMP.