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To: U.S. Attorney General Eric Holder
Tell AG Holder to Hold Banks Accountable for Putting 100s of NY Homeowners at Risk of Foreclosure
New York Attorney General Eric Schneiderman has uncovered hundreds “flagrant” violations of last year’s mortgage settlement by Wells Fargo and Bank of America. We demand that U.S. Attorney General Eric Holder support Schneiderman’s efforts to hold these banks accountable for failing to comply with the settlement they agreed to.
Why is this important?
After sending millions of homeowners into debt and crashing the global economy, Attorney General Schneiderman joined 48 states last year to protect homeowners under the terms of the National Mortgage Settlement. The settlement helps keep families in their homes by making it easier for them to modify their loans. The banks have a legal mandate to comply with these rules and yet they are breaking the law--once again-- by not providing fair and timely services to struggling home-owners.
It might not shock you to learn that the two banks with the worst record in the foreclosure crisis are not living up to that agreement and are continuing to give homeowners the runaround, continuing to “lose” loan documents and to delay providing homeowners with the relief they promised.
Eric Schneiderman has documented over 300 instances where Bank of America and Wells Fargo have failed to comply with the standards they both agreed to just last year. And now he is trying to hold them accountable to the terms of the deal they signed to avoid hundreds of billions in civil and criminal liabilities.
"The problem is, the banks have overwhelming confidence that law enforcement is not taking this seriously," Schneiderman said. "They have overwhelming confidence that whatever the rules are, (they) won't be followed up on."
The Big Banks thought that they could get away with returning to the same old abusive practices that have victimized millions of homeowners since this crisis began, but Eric Schneiderman isn’t going to give them a pass.
We demand that U.S. Attorney General Eric Holder support these efforts to finally get the Big Banks to live up to the agreement they all signed last year.
Eric Schneiderman: Banks Have 'Confidence' That Law Enforcement Is Not Taking Violations 'Seriously'
New York AG To Sue Bank Of America, Wells Fargo Over Alleged Violations Of National Mortgage Settlement