Want to eliminate uncertainty from the REO / foreclosure market and legal system? One simple SarbOX affidavit filed with the SEC will do it:
I hereby affirm that my staff (and I) have reviewed the current, pending and recently completed foreclosures. In no instances did we find any substantive errors, including: The wrong house being foreclosed upon; a mortgage note that was held by another bank (but not B of A) incorrectly used as a basis of a B of A foreclosure. Nor did we find that an incorrect house or person was foreclosed upon. Last, I affirm that no home without a mortgage was ever the subject of a foreclosure proceeding by B of A
Brian Moynihan, CEO
Bank of America
Bank of America is claiming that there were no mistakes made in foreclosures, despite widespread perjury, fraud, and omitted file and document reviews. I sincerely doubt that, given the Legal Impossibilities & Foreclosure Errors we have already discovered.
However, investors have been skittish as more and more of the Fraudclosure issue has been revealed.
The simple solution to this issue: Have Bank of America CEO Brian Moynihan sign some variation of the attestation above, and submit that with the BofA Sarbanes Oxely filings.
This will put a lot of investors, Title Insurers, and REO Foreclosure buyers at ease.
Mr. Moynihan ?
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.