Reuters: Most Read Articles: New York AG investigating BofA for mortgages: filing

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New York AG investigating BofA for mortgages: filing Feb 28th 2013, 23:29 The problem BOA has with Countrywide loans is what Wells Fargo Bank has with the Government insured loans (FHA, VA, USDA) that they are still servicing with the Jul 31, 2006 servicing agreement with Washington Mutual Bank (WaMu). Everyone thinks that JPMorgan Chase took over all the loans of WaMu, but WaMu placed these loans (1.3 million) into Ginnie Mae pools so it could not sell the loans once they relinquish the blank endorse Notes to Ginnie Mae. What not being understood is the fact that Ginnie Mae is not a lender and cannot and did not buy or sell a home mortgage loan at all. So with what occurred and the millions of foreclosures Ginnie Mae cannot any longer hide the error of how these loans/Notes are being held without any financial ownership of the debt. So we found ourselves in a situation were Ginnie Mae in concert with these lenders/servicers where they had to submit phony title assignments helped by MERS, so that a administrative foreclosure could be preformed. On top of what the homeowners lost, the Federal Government paid out False Claims as a result of the damage caused by the parties claiming insurance claims. One cannot cause the damage and receive a payout in return. We the Federal Government are due back $8 billion plus treble damages of $24 billion. So is there a reason we are not demanding our money back?

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