While Congress continues to bail out banks and there are no criminal prosecutions against the bankers who participated in the robo-signing and other wrongful actions that created the housing meltdown, the United States Department of Justice has actually prosecuted someone involved in the housing crisis. However, the prosecution has received very little attention in the mainstream press.
Che M. Brown, of Washington, D.C., was recently sentenced to serve three months of incarceration on a federal charge of bank fraud stemming from a scheme in which he submitted false documents to a mortgage lending service to obtain a loan modification for his residence.
Geoffrey Broderick, the senior partner of the Resolution Law Group, says “while Mr. Brown should not have submitted phony documents in order to obtain his loan modification, one can only imagine how the United States Department of Justice evaluates which people they prosecute. Banks and bankers have admitted robo-signing, using MERS, and doing so many wrongful acts. However, people who worked for the banks are not being criminally prosecuted.” Mr. Brown fell behind on his monthly mortgage in 2009 and his mortgage servicer encouraged him to apply for a loan modification. He exaggerated his income in order to qualify for a modest loan modification in order to keep his home out of foreclosure.
Mr. Broderick adds that “The housing market will continue to suffer until it is fixed by the Courts or the Legislature. Somebody has to fix the problem. That is why The Resolution Law Group continues its fight for homeowners. Homeowners cannot expect the problem to fix itself.”
The Resolution Law Group continues to prosecute ground breaking litigation in Federal Court on behalf of homeowners suing lenders and servicers for, among other things, the illegal use of MERS, robo-signing, and intentionally ignoring underwriting standards and encouraging inflated appraisals.
The Resolution Law Group is currently enrolling clients into the pending lawsuit. For further information, visit its website at www.TheResolutionLawGroup.com
Lender Litigation, Unlawful Foreclosure, Tarp Money, Mortgage Backed Securities, Derivitives Lawsuits, Insider Trading Lawsuit, SEC Settlements, Ponzi Scheme Lawsuits, Intentional Misrepresentation, Securitized Mortgage, Class Action Securities Lawsuit, Robo-Signing Lawsuit, Lost Equity Litigation, Mortgage Lender Fraud, FINRA Fraud Lawsuit, Suing Banks, Fraudulent Misrepresentation, Short Sale Fraud, Fraudulent Business Practices, Mortgage Litigation, Complex Tort Litigation, Injunctive Relief, MERS Fraud