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Occupy Wall Street Had a Purpose - Part 2 of Many
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21 views • 06/16/2020
Was it a new FBI COINTELPRO ?
While the Occupy Wall Street movement was growing, the FHFA was filing lawsuits on behalf of Fannie & Freddie against 18 banks, settling with the largest seller of mortgage backed securities (Wells Fargo) WITHOUT a lawsuit being filed for COMMON LAW FRAUD (among other securities law violations) stemming from inflated collateralizing appraisals.
In hindsight, a movement would be an amazing distraction from the financial crimes that focused on the securities instead of the mortgage documents signed by millions of Americans. The Financial Crisis Inquiry Commission reported that lenders applied pressure to appraisers to inflate appraisals to inflate debt.
Simply put, most of the mortgages in the years preceding the Financial Crisis were NOT enforceable according to the Uniform Commercial Code (UCC) just based on the evidence outlined in the FHFA complaints. The UCC is codified into law in most states. For instance N.J.S.A. Title 12A Commercial Transactions is the UCC in the state of New Jersey.
https://www.fhfa.gov/SupervisionRegulation/LegalDocuments/Pages/Litigation.aspx
https://www.nytimes.com/2011/09/03/business/bank-suits-over-mortgages-are-filed.html
While the Occupy Wall Street movement was growing, the FHFA was filing lawsuits on behalf of Fannie & Freddie against 18 banks, settling with the largest seller of mortgage backed securities (Wells Fargo) WITHOUT a lawsuit being filed for COMMON LAW FRAUD (among other securities law violations) stemming from inflated collateralizing appraisals.
In hindsight, a movement would be an amazing distraction from the financial crimes that focused on the securities instead of the mortgage documents signed by millions of Americans. The Financial Crisis Inquiry Commission reported that lenders applied pressure to appraisers to inflate appraisals to inflate debt.
Simply put, most of the mortgages in the years preceding the Financial Crisis were NOT enforceable according to the Uniform Commercial Code (UCC) just based on the evidence outlined in the FHFA complaints. The UCC is codified into law in most states. For instance N.J.S.A. Title 12A Commercial Transactions is the UCC in the state of New Jersey.
https://www.fhfa.gov/SupervisionRegulation/LegalDocuments/Pages/Litigation.aspx
https://www.nytimes.com/2011/09/03/business/bank-suits-over-mortgages-are-filed.html
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