$37.5 MILLION - I LOVE THE OBAMA ADMINISTRATION!!!

[IdaBriggs]

Last year I shared this post: "3 Strange But True Facts About Me." http://www.democraticunderground.com/10023828011 with heavy emphasis on the "third"

3) I won a foreclosure battle against my bank!!! <== Yes, this is the one people will probably disbelieve the most!

Well, the follow up to that story ---

http://www.bloomberg.com/news/2014-09-29/flagstar-pays-37-5-million-over-consumer-bureau-claims.html
Flagstar Pays $37.5 Million Over Consumer Bureau Claims

By Carter Dougherty 2014-09-29T17:51:26Z

Flagstar Bancorp Inc. (FBC) will pay $37.5 million to settle U.S. Consumer Financial Protection Bureau claims that it violated new rules on the fair treatment of homeowners seeking mortgage modifications.

The bank took too long to process applications for foreclosure relief, didn’t inform borrowers when their forms were incomplete and denied modifications to qualified homeowners, the regulator said in a statement today.

“Because of Flagstar’s illegal actions and unacceptable delays, struggling homeowners lost the opportunity to save their homes,” Richard Cordray, the consumer bureau’s director, said in the statement.

Flagstar will pay a $10 million fine and provide $27.5 million for about 6,500 consumers, with at least $20 million going to about 2,000 people who lost their homes, according to the agency’s statement. Individual borrowers will still be able to sue the bank, the regulator said. (more at link)

Yes, that looks like some of the stuff I was complaining about. And what did I say in my letter?

"A reasonable person can obviously infer that had we not been diligent in our pursuit of assistance using all available means, Flagstar would have requested reimbursement from FHA under the fraud that we are/were simply “dead beats” instead of victims of either incompetence or outright unethical behavior on the part of Flagstar. That same reasonable person can make an undoubtedly accurate assumption that we are not the “only” people this has happened to when dealing with Flagstar."

I think SOMEBODY LISTENED!!!! And they found SIX THOUSAND FIVE HUNDRED OTHER PEOPLE GETTING SCREWED OVER, TOO!!!

<== Not for them getting screwed over, but for them getting "FOUND"!!!

On a totally non-related note, 9 out of 10 of the "Executive Leadership Team" that I cc'd on the documents I provided are no longer in their positions at Flagstar as of May of last year -- this may have been a combination of an investor lawsuit, and the undoubted coincidence of the regulators investigating my complaint. Or lightning. Or something.



I am happy. I believe the regulators DID THEIR JOB. I don't think that would have happened under the previous administration, and I can only say --

THANKS, OBAMA!!!