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Mitt Romney finance bundler is Jacksonville lobbyist for 'foreclosure mill'

From the Boston Globe:

Mitt Romney has spent time on the campaign trail railing against high foreclosure rates, traveling earlier this year to one of the country’s foreclosure capitals, North Las Vegas, to bring the point home.

But as he has built his fund-raising machine, he has relied heavily on a man who has lobbied Congress on mortgage reform and antipredatory lending legislation that contained strict rules aimed at preventing another subprime mortgage collapse.

T. Martin Fiorentino Jr., who raised $102,900 for Romney, lobbied on the legislation on behalf of Lender Processing Services, a so-called “foreclosure mill’’ that was reprimanded in April by the government for “unsound practices related to residential mortgage loan serving and foreclosure processing.’’

 

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Carl Johnson

High foreclosure rates aren't caused by foreclosure processing firms. They are caused by people not being able to pay their mortgages. This is a bit of a stretch.

Can't Take It Anymore

Willard Romney is the poster boy for the slick, born-to-wealth, entitled to rule class of America. Like Rick Scott, Romney could affor a substantial portion of his campaign costs with the millions he has earned by his many investments. These investments created few jobs for Americans but propelled Willard into the ranks of the super rich. Maybe he could have invested in reopening some of the Rambler auto factories his father ran into the ground.

Pay what you agreed to pay

Funny, I don't know anyone employed by a poor person.

Sr. Judge Charles Edelstein

After sitting on 800 or so mortgage foreclosure cases as a senior judge in Miami, I found that there is a lot of blame to be spread around. Most of the loans were in 2006-7 and in most, no or only a few payments were made. A coupe of bank reps who, with the approval of their counsel, agreed to answer some of my questions after their cases were over. These questions were not case related by my attempt to find out how these loans were made etc. Essentially some buyers had no clue what they were getting into and some figured out the game chose to play it.

When I went to my S&L to close my account, there was a stack of papers next to the cashiers' windows - urging you to buy a home with no money down and all the closing costs rolled into the loan. This was a Coral Gables bank. So, buy a 1/2 million dollar house with no money down. The whole thing has become a litmus paper test for people's politics.

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