Hacker Collective Anonymous To Release Documents Proving Bank Of America Committed Fraud This Monday

http://hbgary.anonleaks.ch/
Hacker Collective Anonymous To Release Documents Proving Bank Of America Committed Fraud This Monday
Submitted by Tyler Durden on 03/11/2011 22:03 -0500
From Zero Hedge:

We urge readers to check into http://hbgary.anonleaks.ch/ first thing Monday - after all this is the portal that released the original damning HBGary evidence, and brought down the firm within weeks. If it can do the same with Bank of America, Monday may just soon be a national holiday.

After Julian Assange crashed and burned in his threat to release documents that expose fraud at Bank of America, many thought he had been only bluffing, and that BofA is actually clean. Not so fast. A member of the hacker collective Anonymous, which singlehandedly destroyed "hacker defense" firm HB Gary, who goes under the handle OperationLeakS "is claiming to be have emails and documents which prove "fraud" was committed by Bank of America employees, and the group says it'll release them on Monday" reports Gawker. As to the contents of the possible disclosure: ""He Just told me he have GMAC emails showing BoA order to mix loan numbers to not match it's Documents. to foreclose on Americans.. Shame." If indeed this makes the case against BofA' foreclosure practices stronger, it certainly explains why the banking consortium is scrambling to arrange a settlement, and also why Bank of America recently split off its $2 trillion in mortgages into "good bank" and "bad bank" entities.
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http://www.zerohedge.com/article/hacker-collective-anonymous-release-documents-proving-bank-america-committed-fraud-monday

more:

OperationLeaks, which runs the anti-Bank of America site BankofAmericasuck.com, says the employee contacted the group to blow the whistle on Bank of America's shady business practices. "I seen some of the emails… I can tell you Grade A Fraud in its purest form…" read one tweet. "He Just told me he have GMAC emails showing BoA order to mix loan numbers to not match it's Documents.. to foreclose on Americans.. Shame."

An Anonymous insider told us he believes the leak is real. "From what I know and have been told, it's legit," he said. "Should be a round of emails, then some files, possible some more emails to follow that." The documents should be released Monday on Anonleaks.ch, the same site where Anonymous posted thousands of internal emails from hacked security company HBGary last month. That leak exposed a legally-questionable plot to attack Wikileaks and ultimately led to the resignation of HBGary CEO Aaron Barr.

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We have myriad reports of homeowners who are told to intentionally default by servicers, a clear act of bad faith. We have documented instances of banks breaking into homes that are occupied, an apparent serious state felony. We have documented instances of banks playing games with forced-placed insurance, escrow accounts and similar acts leading to foreclosure.

http://www.dailykos.com/story/2011/03/12/955682/-Anonymous-To-Release-Document-Proving-BOA-Committed-Fraud-on-Monday

:popcorn:

:)

;)

:hi:

Especially in a period of upside down mortgages?

a discrediting plant of falsified information.

But I read somewhere that the lucrative part of the scam is the mortgage insurance contracts that banks like BofA take out on the mortgages they hold, ostensibly to protect them from default in an upside down market. But the scam is in having multiple insurance contracts on each mortgage, each for the full original loan value. So one foreclusure could net two, three, four times the original value of the house from the insurance. So if the house later sells for a massive loss, who cares?

which in turn led to the collapse of fannie and freddie insuring that they would not and could not be the underwriter of last resort
for lower income earners?

Jeeeeeezzzzzzzuuuuuuzzzzz, this is like dead peasant insurance all over again.

hard to understand what was to be gained by foreclosing on so many people.

Multiple Insurance Policies on the same mortgage explained it. This was revealed I believe, in at least one court case and when the judge found out, he awarded the home to the fore-closed on owner, free and clear.

I don't think this information has been widely disseminated enough though. I spent nearly two years wondering what Wells Fargo had to gain by foreclosing on my friend when she could have paid a reduced payment if they would have allowed her to renogiate the loan. It didn't make sense as the house was empty for almost a year after she left it.

But when I read of the mulitiple Insurance Policies on the same mortgages, it all became clear.

Since one would assume the several insurance policies couldn't all carry the same loan number, there would have to be fake loan numbers assigned to all the additional policies. I wonder if that's what Anonymous has, the smoking gun on massive insurance fraud by BoA?

catching it. If that is what Anonymous has, then yes, I would think it would be pretty explosive! Major fraud no question about it.

Julian Assange said that the information Wikileaks had on the bank which he did not name, would most likely shut it down.

Excellent connection made by you. I did wonder when I found out about the multiple insurance policies on one mortgage, how they managed to get away with it. But I assumed that they felt so immune to any kind of investigation, it didn't matter. After all no one was asking for investigations, they were trying to bail them out and cover their crimes.

If that is what they are about to reveal, I can't see any way there would not be investigations, and finally some accountability.

Monday should be very interesting. I wonder why Anonymous gave them any warning though?

I think Anonymous is immunizing itself from any investigation of who they are by doing all of these exposes. After HBGary, and now this, even the FBI might not want to stir that hornet's nest! Lol!

Warning gives the enemy time to prepare, and possibly get out of the way. I would have dropped this nuke Monday prime time with no warning. Well, just because Anonymous is technically savvy doesn't mean they have to be tactically savvy I suppose. Or there's a method to their madness that I don't see, which is probably more likely.

Here's to hoping that Monday will be a very exciting day for the senior leadership of BoA!

Especially if the mortgage has already been sold on the secondary market.

The loan servicer only makes money if you are always paying the monthly payment in full or if there is a foreclosure. If you refinance, the servicer loses out big time. The funny thing about all this HAMP stuff, is that the servicers are in charge of refinancing. That's why there was an extremely low amount of refinancing done, even when it would have been great deals for both the owner of the loan and the home owner.

Shahien Nasiripour
First Posted: 03/11/11 01:24 AM Updated: 03/11/11 01:25 AM

Fed Report Finds No Wrongful Foreclosures By Banks

This story was updated to include additional information.

WASHINGTON, D.C. -- A months-long internal investigation into abusive mortgage practices by the Federal Reserve found no wrongful foreclosures, members of the Fed's Consumer Advisory Council said Thursday.

During a public meeting attended by Fed chairman Ben Bernanke, consumer advocates on the panel criticized the central bank's examiners for narrowly defining what constitutes a "wrongful foreclosure." At least one member of the panel, comprised of consumer finance experts not employed by the Fed, voiced concerns that the public would not take the Fed's findings of improper practices seriously, since the wide-ranging review did not find a single homeowner who was wrongfully foreclosed upon.

more:

http://www.huffingtonpost.com/2011/03/10/fed-reports-finds-no-wron_n_834010.html

http://4closurefraud.org/2011/03/10/where-is-the-outrage-fed-report-finds-no-wrongful-foreclosures-by-banks-but-jpmorgan-disagrees/

:sarcasm:

And I hope this is predictive of the ability of the "internets" to counteract government whitewashes. How great would a "Lie this week and We'll tell the truth next week" campaign be?

Get me some :popcorn: and :beer: . Love reading the crimes of Banksters!

that some banksters are tossed in jail with the key thrown away. And not just a couple little peons either, the big guys at the top.

Wait, they can time travel?

that Assange was threatening a couple months ago?

then again, if he is sent to the US, there might be a cache of stuffs that might flood.

I've been so disappointed that Wikileaks never released whatever they had (if anything) on BoA. This would be amazing.

that the authorities have to prosecute?

that have no citizenship papers and have done nothing but work hard to mess with people who are responsible for perhaps 10 million lost jobs, 5 million homes underwater, 40 million people on food stamps, and who donate millions of dollars to their political party.

they got friends in high places, y'know...

Making no wagers, but I doubt that the Korporate Media will report bad news on their bosses.

Had a friend (single dad) lose a house because BoA 'lost' his first application to refinance, strung him out for months and then denied any refinancing at the 11th hour. Always thought there was shenanningans afoot, glad to be able to put some names to it finally.

Wasn't wikileaks supposed to expose them also?

but I won't hold my breath.. Although, I would love to be wrong just this once... :shrug:

:rofl:

don't count on the Feds to do anything about this at all but cover it up. After all, that's what they've been doing all along.

by the press/korporate media, and covered up by the DoJ?

Are we prepared to call for mass demonstrations at every state capital or at least town squares?

Or are we going to simply give a collective groan when we see a replay of Fitzmas all over again?

I love Monday's.

I'm not sure people are ready to do that on a scale that will make a difference. I'm interested to see what happens, though.

the potentially catastrophic nuclear plant situation continually developing in Japan.

Anonymous needs to keep in mind the adage: "Timing is EVERYTHING".

on edit to add: ON THE OTHER HAND: JUST "DO IT"

The MSM will be keeping it's eyes glued on Japan pretty hard, especially if it's to cover for BoA