Ally Bank - GMAC Mortgage Gone
King of the trash-talking CEOs Aaron Wider vindicated by newest GMAC Mortgage legal sanction.
May 09, 2011 -
When judgment day finally comes, the aftermath can be bloody. GMAC Mortgage, one of America's biggest mortgage behemoths, received a stiff rebuke recently at the hands of the Federal Reserve.
Consent Order 11-020-B-HC castigates Ally Bank and its subsidiary entities, GMAC Mortgage, Ally Financial, and Residential Capital LLC, for failing to protect consumers and engaging in shady, if not downright illegal, mortgage foreclosure practices.
The news comes as a relief and source of vindication for one Aaron Wider. Wider, best known as the king of the trash-talking CEOs, expressed a healthy mix of joy and frustration upon hearing the news.
"It's infuriating knowing that these duplicitous practices on the part of GMAC and their kind went on unchecked for so long, but today, justice has finally been done," remarked Wider. "I'm feeling vindicated. Now the whole world knows what I have known and fought against for years."
One source of relief is that the consent order requires $20 billion for the restitution of all illegal foreclosures that took place between Dec 31 2009 and Dec 31 2010. "It is not being made public but it is there," says Wider.
This story, and Aaron Wider's involvement in it, didn't develop overnight. The laundry is very dirty indeed, but it needs another airing. Read on, concerned citizen.
During the years leading up to the mortgage crisis of 2008, mortgage companies and banks pushed weak loans on bad faith, passed the buck, and the consumer paid the price. In the fallout, mortgage companies were grasping at straws, desperate to find a scapegoat.
In the usual fashion, filth runs down hill, covering all in its path. Some mid-sized firms who believed they were helping the little guy got covered in it, at least temporarily. One such firm was HTFC, helmed by a certain YouTube darling known as Aaron Wider.
HTFC Corporation was sued by RFC, a GMAC Mortgage company, in Minnesota District Court on six loans. All six loans had been paid off, yet for some strange reason GMAC was awarded a default judgment in the amount of $730,990.00, plus legal fees of $94,612.54, on one of these loans. At the exact same time, HTFC was also sued by GMAC in the Eastern District Court of Pennsylvania for $13,200,000 on twenty-seven loans that had all been paid off.
In response, Wider has filed a motion to vacate for improper service, abuse of process, perjury, subordination of perjury, and fraud. The decision is still pending as of this writing.
GMAC's counsel in Pennsylvania was Kleinbard, Bell & Brecker LP, whose lead attorney was Robert Bodzin, he of the infamous "Deposition from Heck."
According to Wider, "Both Bodzin and attorney Don Heeman attacked me during this deposition on loans that were already satisfied. They didn't even have the good sense to perform due diligence on my loans, much less effect proper service of process. I think I have a slam-dunk case against them. You can't go in front of a federal judge and lie about nonexistent damages without consequences. Now you know why I dropped the F-Bomb 73 times," says Wider.
GMAC Mortgage appears to have failed at putting Aaron Wider out of the loan business, and in the wake of that failure, succeeded in being shamed publicly by the Fed. "Turnabout is fair play, something which GMAC obviously knows very little about," snapped Wider.
In the meantime, Wider is doing what Wider always does--taking care of business, and "making sure others don't get fleeced by the likes of GMAC and their ilk."
Contact:
Aaron Wider
347-245-5524
###
May 09, 2011 -
When judgment day finally comes, the aftermath can be bloody. GMAC Mortgage, one of America's biggest mortgage behemoths, received a stiff rebuke recently at the hands of the Federal Reserve.
Consent Order 11-020-B-HC castigates Ally Bank and its subsidiary entities, GMAC Mortgage, Ally Financial, and Residential Capital LLC, for failing to protect consumers and engaging in shady, if not downright illegal, mortgage foreclosure practices.
The news comes as a relief and source of vindication for one Aaron Wider. Wider, best known as the king of the trash-talking CEOs, expressed a healthy mix of joy and frustration upon hearing the news.
"It's infuriating knowing that these duplicitous practices on the part of GMAC and their kind went on unchecked for so long, but today, justice has finally been done," remarked Wider. "I'm feeling vindicated. Now the whole world knows what I have known and fought against for years."
One source of relief is that the consent order requires $20 billion for the restitution of all illegal foreclosures that took place between Dec 31 2009 and Dec 31 2010. "It is not being made public but it is there," says Wider.
This story, and Aaron Wider's involvement in it, didn't develop overnight. The laundry is very dirty indeed, but it needs another airing. Read on, concerned citizen.
During the years leading up to the mortgage crisis of 2008, mortgage companies and banks pushed weak loans on bad faith, passed the buck, and the consumer paid the price. In the fallout, mortgage companies were grasping at straws, desperate to find a scapegoat.
In the usual fashion, filth runs down hill, covering all in its path. Some mid-sized firms who believed they were helping the little guy got covered in it, at least temporarily. One such firm was HTFC, helmed by a certain YouTube darling known as Aaron Wider.
HTFC Corporation was sued by RFC, a GMAC Mortgage company, in Minnesota District Court on six loans. All six loans had been paid off, yet for some strange reason GMAC was awarded a default judgment in the amount of $730,990.00, plus legal fees of $94,612.54, on one of these loans. At the exact same time, HTFC was also sued by GMAC in the Eastern District Court of Pennsylvania for $13,200,000 on twenty-seven loans that had all been paid off.
In response, Wider has filed a motion to vacate for improper service, abuse of process, perjury, subordination of perjury, and fraud. The decision is still pending as of this writing.
GMAC's counsel in Pennsylvania was Kleinbard, Bell & Brecker LP, whose lead attorney was Robert Bodzin, he of the infamous "Deposition from Heck."
According to Wider, "Both Bodzin and attorney Don Heeman attacked me during this deposition on loans that were already satisfied. They didn't even have the good sense to perform due diligence on my loans, much less effect proper service of process. I think I have a slam-dunk case against them. You can't go in front of a federal judge and lie about nonexistent damages without consequences. Now you know why I dropped the F-Bomb 73 times," says Wider.
GMAC Mortgage appears to have failed at putting Aaron Wider out of the loan business, and in the wake of that failure, succeeded in being shamed publicly by the Fed. "Turnabout is fair play, something which GMAC obviously knows very little about," snapped Wider.
In the meantime, Wider is doing what Wider always does--taking care of business, and "making sure others don't get fleeced by the likes of GMAC and their ilk."
Contact:
Aaron Wider
347-245-5524
###
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