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Dual state probe into foreclosures

December 6, 2011

A joint investigation into mortgage abuses by the nation’s largest banks will team the attorneys general of California and Nevada, two states hit hardest by foreclosures. [SacrementoBee]

The collaborative effort of California Attorney General Kamala Harris and Nevada Attorney General Catherine Cortez Masto was announced in Los Angeles today. The officials believe it will help accelerate investigations already under away.

“The mortgage crisis is a man-made disaster that has taken a heavy toll on the country, but it saved its worst for California and Nevada,” Harris said. “The mortgage crisis is a law enforcement matter, and we will prosecute to hold accountable those who are responsible.”

Harris has targeted such institutions as Fannie Mae, Freddie Mac, Bank of America Corp., and Lender Processing Services Inc.

Default filings in California increased by 13 percent in October as lenders have ramped up foreclosure efforts.


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Bank of America agrees to pay $2.43 billion to investors who accused the bank of hiding the losses of Merill Lynch when the Bank acquired it in 2008. [Investors said they would not have approved the merger if they had been told the truth about the huge losses they were acquiring from Merill Lynch. The bad investment subsequently was made good by taxpayers in the form of two bailouts by Congress and the Federal Reserve. It’s the taxpayers that should have filed a lawsuit, not investors. But, if they had, the Bank could not pay damages without another bailout from taxpayers. See how the game is rigged?] NY Times 2012 Sep 28


http://dealbook.nytimes.com/2012/09/28/bank-of-america-to-pay-2-43-billion-to-settle-class-action-over-merrill-deal/


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Ultimately, the culprits are not “institutions as Fannie Mae, Freddie Mac, Bank of America Corp., and Lender Processing Services Inc.”


The real culprit is CENTRAL BANKING, i.e., the FED.


They create money out of nothing, backed by NOTHING.


No economy can work without a stable currency.


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The OCC is not the answer as seen with Santa Barbara Bank & Trust at http://www.sbaplploans.com I spent a year with complaint of fraud and breach of contract to be givin the run around by the OCC


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*******************The article above gives hope. The Attorney General has been made aware of how Santa Barbara Bank & Trust had ignored the Oceano Nursery SBA Loan Rules under SBA Form 147 Note.


I am sharing this email communication as answers are needed as to why Santa Barbara Bank & Trust would over charge the Oceano Nursery SBA Loan from 2007!


Notice the OIG complaint ID # 20110484—20120076


________________________________________

From: Bill Bookout [mailto:Pismobeachdiveshop@charter.net]

Sent: Tuesday, December 06, 2011 12:20 PM

To: ‘Diana Lee’

Cc: ‘Karen Grant’; ‘Mary Jo Barbeau’; ‘Richard Rossi’; ‘Chris Gautschi’; ‘Kaplan, Adam D.(Off. Inspector Gen.)’; ‘danhil@charter.net’; ‘Bob Johnston’; ‘Ashker, Terrill K.’; ‘Thomas Cregger’; ‘carlos.mendoza@sba.gov’; ‘Hobby, Jill C.’; ‘Koznek, Jeff’; ‘lol@rsmediate.com’; ‘rmiller@newtimesslo.com’; ‘econnolly@newtimesslo.com’; ‘crigley@newtimesslo.com’; ‘ctrimble@pismobeach.org’; ‘velie@calcoastnews.com’; ‘cj.ward@keyt.com’; ‘Mazzoni, Sandra E. (Off. Inspector Gen.)’; ‘Hien.Nguyen@sba.gov’; ‘Hardy.Slay@sba.gov’; ‘Lisa.Cookie@sba.gov’

Subject: RE: Santa Barbara Bank & Trust Loan Fraud and Breach of Contract SBA PLP Loan # 664-196-4009


December 6, 2011


Santa Barbara Bank & Trust

Diana Jessup Lee, California State Bar # 155191

Robert Forouzandeh, California State Bar # 247177

Reicker, Pfau, Pyle & McRoy LLP

1421 State Street, Suite B

Santa Barbara, CA 93101


Mrs. Diana Jessup Lee,


As undisputed by Santa Barbara Bank & Trust below, Santa Barbara Bank & Trust now needs to account for the Oceano Nursery loan payments overcharged in 2007 of $2,305.55 against SBA Form 147 Note as stated by Robert Forouzandeh, on November 23, 2011 “Forbearance Agreement and the date of the Proof of Claim with the loan being re-amortized on a yearly basis per SBA loan rules”


The November 7, 2011Objection (Case NO. ND11-1493RR) by Attorney Karen L. Grant for Santa Barbara Bank & Trust has now been shown to be fraudulent with the $127,333.39 (Proof Of Claim) claimed to be owed by Santa Barbara Bank & Trust! Robert Forouzandeh, on November 23, 2011, now shows that Santa Barbara Bank & Trust understands “SBA Loan Rules” per SBA Form 147 Note!


Santa Barbara Bank & Trust needs to account for the overcharging the Oceano Nursery loan payments in 2008 by $6,589.80 against SBA Form 147 Note as stated by Robert Forouzandeh, on November 23, 2011 “Forbearance Agreement and the date of the Proof of Claim with the loan being re-amortized on a yearly basis per SBA loan rules”


Santa Barbara Bank & Trust needs to account for the overcharging the Oceano Nursery loan payments in 2009 by $7,523.52 against SBA Form 147 Note as stated by Robert Forouzandeh, on November 23, 2011 “Forbearance Agreement and the date of the Proof of Claim with the loan being re-amortized on a yearly basis per SBA loan rules”


If Santa Barbara Bank & Trust disputes any of the figures below or above, then please provide a Computerized, Accounting by Santa Barbara Bank & Trust within 24 Hours. Failure to provide a Santa Barbara Bank & Trust Computerized Accounting will be taken as full agreement with the figures below and above! Please provide a copy of Santa Barbara Bank & Trust Computerized Accounting to the Office of Inspector General attached above along with the SBA, within 24 Hours! OIG complaint ID # 20110484—20120076


Again I am requesting for a Santa Barbara Bank & Trust Computerized (Payment Notices) from Santa Barbara Bank & Trust for the months of November and December 2011 per SBA Form 147 Note as stated by Robert Forouzandeh, on November 23, 2011 “Forbearance Agreement and the date of the Proof of Claim with the loan being re-amortized on a yearly basis per SBA loan rules” Santa Barbara Bank & Trust online accounting has for some reason been taken off line as seen by KEYT 3 On Your Side CJ Ward. Please again show Santa Barbara Bank & Trust online accounting or explain as to why Santa Barbara Bank & Trust is no longer providing this Online, Banking Service?


Sincerely


Bill Bookout


CC KEYT 3 On Your Side CJ Ward

CC Judge Robin L. Riblet—Exhibit # 22 RE: Santa Barbara Bank & Trust False Proof Of Claim 10/28/2011

CC Karen L. Grant Attorney for Santa Barbara Bank & Trust

CC Barry A. Cappello Lender Liability

CC Chris Gautschi [sanschromo@yahoo.com]

CC San Luis Obispo District Attorney

CC San Luis Obispo Police Department Case # 111108022

CC Adam D. Kaplan Office of Inspector General OIG complaint ID # 20110484—20120076

CC Sandra Mazzoni Office of Inspector General OIG complaint ID # 20110484—20120076


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Get ’em, Bill!


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Bill, I understand from your post that you are making the claim that you were overcharged. But you provide no support for your assertion. That is not to say that you are wrong. But you don’t give any formula or explain what you believe you must pay; what the bank thinks you must pay, and what the difference is.


If you are willing to provide information concerning your own financial experience with SB Trust, you ought to be able to whittle it down to exactly what the conflict is. You don’t even need to provide your personal financial information. Make it simple.


Use percentages and a hypothetical amount of money, so people can follow you.


You could say, for example, that the bank decided that you have to repay their loan at hundred dollars a month. You paid a hundred dollars a month. The second month, you could not make a payment, so the next month, you owed a hundred dollars plus interest and penalties. The sum came to 120.00, BY YOUR CALCULATIONS. But the bank believes you owe them 150.00 to make up for the month you were late in making a payment. Something like that.


Otherwise, it sounds like you are just venting without crunching the numbers yourself. I for one, genuinely want to understand the problem, but you seem to do a lot of complaining without really explaining where the bank “defrauded” you.


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Great piece of news about Attorney General Harris’ investigation into mortgage fraud in the banking industry, but if her staff as inept as the A.G.’s Web site and Public Inquiry Unit, she’s gonna’ need all the help she can get.


Tried Googling the telephone number for the AG’s Public Inquiry Unit, and got taken to a page of print on top of print, even using IE’s “Compatibility View.” The site has taken a nose dive as far as layout and design, since the last administration.


Never did find the telephone number on the page I was taken to by using those keywords. Did get the number on the second query, as 1-800-952-5225; or 916-322-3360. You can complain by phone to the Public Inquiry Unit, and in theory at least, they ship the complaint to the appropriate department.


But what I found since Brown became Governor is alot of unhelpful staff that were absolutely wrong on the particular legal question posed to them. That the information was wrong concerning the AG’s authority to investigate community service districts was confirmed after a second call to the office and a talk with a supervisor. Good luck, Kamala. You’re gonna’ need it.


For help with mortgage fraud in the banking industry, there is a Federal resource for people who want a review of their foreclosure experience. The Administrator of National Banks has information on the Web site of the Comptroller of the Currency and is actively taking steps to require 14 “mortgage service providers” to send out information about where to go for help. The people targeted for mailing are described on the OCC’s Web site are people who were “potentially eligible borrowers who suffered injury when they were foreclosed on.”


However, in order to get the Office of the Comptroller of the Currency to review your case, you must have been “actively in foreclosure” between Jan. 1, 2009 to Dec. 31, 2010. Even so, if you call or write, the office is sure to point out other resources to you.


For more info., here are two related Web sites: http://www.IndependentForeclosureReview.com or


http://www.occ.gov/topics/consumer-protection/foreclosure-prevention/correcting-foreclosure-practices.html


The second link is where I found the info.. It is the OCC’s Web page.


The toll free number to ask for a review of your foreclosure case is 1-888-952-9105.


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,,,,,,,,,,,,,,,,,Interesting, With SBA PLP Loans Banks are supposed to properly amortize their loans. Santa Barbara Bank & Trust has ignored SBA Form 147 Note as seen at http://www.sbaplploans.com


This is a small community. Oceano Nursery would still be in business today, if it wasan’t for Santa Barbara Bank & Trust actions in 2007 to present.


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++++++++++++Thank Goodness, It is about time. Santa Barbara Bank & Trust ended Oceano Nursery with the 2003 SBA loan PLP664-196-4009 as seen at http://www.sbaplploans.com and at http://www.governorjerrybrown.net


Santa Barbara Bank & Trust/FBSLO decided in 2003 to switch out the middle of a August 29, 2003 SBA Loan Authorization, which would later end up in Closing Oceano Nursery down in 2007. Yes there was a flooding issue, but Santa Barbara Bank & Trust required the Inverse Condemnation of Oceano Nursery to be Fought in the Deed of Trust and then broke a 2007 forbearance and workout agreement.


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The squirrliest Pismo Beach attorney/developer I have used as a lawyer does a lot of business with Santa Barbara Bank. Ergo, I have questions about why they would be the bank of choice for my former attorney. Maybe they extend a lot of credit. Maybe they don’t ask a lot of questions. Who knows? I had money. I spent money. And a Hell of alot of it got ripped off by unscrupulous local attorneys and construction workers. But you gotta’ pay to learn, I guess. Only problem is, the money was earned back East, and spent out here. I never made money here. I just spent it here.


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It broke my heart to see the wrongful death of the Oceano Nursery … a wonderful establishment! Love your user name, by the way.


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“Harris has targeted such institutions as Fannie Mae, Freddie Mac, Bank of America Corp., and Lender Processing Services Inc.”


Is this the reason Barney Frank is not running for another term? Is he making plans for his defense?


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NO , the one that shills for the corporate 1%ers Kevin McCarthy !


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Bah!


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What a bunch of horse apples ! Barney Frank was tthe one that tried to re-institute some degree of regulation and oversight to banking, lending, and other financial thieves that the Republicans from 1998 to 2006 had allowed those crooks to run rampant.


Such a transparent strawman argument.


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