Foreclosuregate in 30 Seconds

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“Foreclosuregate,” as it’s been dubbed, is a complex mess of a problem. You’ve got “robo signers,” the mortgage servicing employees who scrawled their signatures on hundreds of thousands of crucial legal filings without knowing what they said (violating federal rules), and “foreclosure mills,” the full-steam-ahead law firms that cut corners and allegedly broke the law in foreclosing on homeowners quick and dirty (and are now facing multiple investigations). There’s trusts and mortgage-backed securities and securitization itself. The list goes on and on.

But if you’re looking for a quick, 30-second take on why Foreclosuregate matters, want to know what’s at stake with this deception of the legal process and the questions surrounding millions of foreclosures nationwide, watch the clip below. It features Damon Silvers, policy director at the AFL-CIO and member of the Congressional Oversight Panel, a bailout watchdog, giving as succinct a take on the foreclosure mess as I’ve heard.

(H/T Karl Denninger)

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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