From the Huffington Post‘s Dan Froomkin.
As for the ongoing foreclosure crisis, in which it has become apparent that banks are forcing people out of their homes despite the absence of original, “wet ink” documentation, Mairone blamed the foreclosures on deadbeat borrowers, many of them unemployed, a third of whom no longer occupied their homes. Black and Wray asked:
- Does Bank of America hold the “wet ink” notes on any of these homes, as required by 45 states?
- How many of the mortgages were fraudulent from the very beginning: low docs, no docs, liar loans, NINJA’s (all specialties of Countrywide)?
- How many homes are now vacant because the homeowners were illegally removed from them?
- How many of these homeowners were unemployed or otherwise financially distressed when the loans were originally made?