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Friday, October 29, 2010

Will Bankers go to Jail for Foreclosure-gate?: Time

I don't know, hey if you don't pay your mortgage for 18 months did the banks wrong foreclose on you.  Some legal experts think the court will just fine the banks or servicers for proper documents, but they still had the legal justification for the foreclosure.

Two sources familiar with the Financial Fraud Enforcement Task Force indicated the multi-agency effort by investigators in the Justice, Treasury and Housing Departments would determine whether prosecutors would ultimately pursue criminal or civil penalties - or both.
The Task Force has scheduled a meeting for Wednesday morning at the Department of Housing and Urban Development. Upon conclusion a briefing is likely at the White House, officials said.
"The administration's Federal Housing Administration and Financial Fraud Enforcement Task Force have undertaken their own regulatory and enforcement investigation into the foreclosure process," White House Press Secretary Robert Gibbs confirmed Tuesday. "We remain committed to holding accountable any bank that has violated the law," he said.
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