Insurers Ease on Amnesty .
http://online.wsj.com/article/SB10001424052702304316404575580752988987296.html?mod=WSJ_hpp_sections_personalfinance
There is an immunity smell blowing in the wind for the banks kids.
Now the title insurers seem to think that people won't pursue the quest of repossessing the houses back that were fraudulently taken from them by the banks that used the less than legal make believe (forged) documents that the foreclosure mills were making up on demand.
They also seem to think that the judges will not remand the homes back to those that they were taken from using the forged documents.
Have the Attorneys General sold out the legal process and cut a deal to overlook the fraudulent improprieties that the mortgage financial investment industry blanketed the nation with?
Better yet will "WE" as a nation be willing to forgive the fraud as well as the embezzlement by allowing the excuse of it was all just a mistake and that the banks won't do it again in the future?
There is a marked difference between "flawed" and "Fraud" and I personally choose to refuse to look the other way.
The banks committed the crime of the century,, not only against the property owners but against the investors as well.
It was a well thought out calculated plan, no different than Bernie Madoffs or Alan Stanford’s was.
The one slight difference was the magnitude of the size of the duped, that the banks ponzi scheme ensnared.
While Bernie and Alan preyed mostly upon the rich, the banks accepted anyone and everyone and then proceeded to bleed them dry.
Title insurers have decided not to require lenders to provide a blanket shield from claims caused by flawed foreclosures after discussions around crafting an industry-wide agreement fell apart.
First American Financial Corp. said Thursday that the Santa Ana, Calif., company had concluded that requiring banks to indemnify the title insurer from foreclosure errors resulting in questions about who owns clear title to a property was unnecessary "given the actions taken by lenders to remediate deficiencies and to improve their processes going forward," said Dennis Gilmore, First American's chief executive.
The company, which does business in all 50 U.S. states, said it might still ask banks to provide indemnification on a case-by-case basis. But First American said it believed there is a "low probability" borrowers will ask courts to invalidate foreclosures or that judges will forcibly return foreclosed property to borrowers who default.
