Welcome

Welcome to Banking Horror Stories.

I created this site because as the owner of MFI-Miami, a Mortgage Fraud Investigation Company, I am constantly being told stories about the horrific treatment my clients receive from their banks. My clients tell me their complaints fall on deaf ears when they call their banks and that they wish they had some where to go not only to complain or share their stories but to seek answers to their questions. After doing extensive research on the internet, I found there was no one site that catered to these... Read more of this article

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More Posts From Welcome

Steve's Blog

Force Placing Escrows Is About Greed Not Taxes and Insurance

Since starting MFI-Miami almost three years ago, my staff and I have reviewed nearly 800 mortgage files and in nearly 70% of those file where the homeowner had their taxes and insurance escrowed, the were some serious issues. “Never ask when you can take” –Ferengi Rule of Acquisition #52 One of my clients in northern Michigan had been escrowing her payments to Countrywide Home Loans and later Bank of America for nearly 3 years.  Last year, because of some family issues Bank of America began... Read more of this article

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Miami Has a New SEC Chief

Jay Weaver, Miami Herald A product of Jesuit schools in Latin America, Eric Bustillo entered Tulane University in fall 1981. Within months, his bright future would take a dark turn: He and his friends were returning to the New Orleans campus one night when their car swerved to avoid another and slammed into a tree. Bustillo’s spinal cord was severed, leaving him paralyzed. Today, as he sits in a wheelchair in his corner office overlooking Biscayne Bay, Bustillo displays only optimism. A lawyer... Read more of this article

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More Posts From Steve's Blog

JPMorgan, Banks Say Madoff Trustee Would Break Secrets Pact

Linda Sandler, Bloomberg JPMorgan Chase & Co. (JPM), sued for $6.4 billion by the trustee for Bernard L. Madoff’s firm, said the trustee has no right to “abrogate” a yearlong agreement to protect trade secrets by revising his rules for handling confidential information. The trustee, Irving H. Picard, seeking $100 billion for investors in Madoff’s... Read more of this article

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JPMorgan Chase Made $907 Million Doing Business With Bernie Madoff

Linus Wilson, University of Louisiana at Lafayette – College of Business Administration The Madoff Ponzi scheme was sitting on a cash hoard in excess of a billion dollars by the 1990s. Yet, much of that money did not stay in the Ponzi account, account 703 at JPMorgan Chase, or make it into the hands of other Madoff investors. For many years, in... Read more of this article

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Weekend at Bernie’s Therapist

One evening, my home phone rang. “You have a collect call from Bernard Madoff, an inmate at a federal prison,” a recording announced. And there he was. Steve Fishman, New York Magazine Bernard L. Madoff is in therapy. Each week, he waits for the signal that prisoners are allowed to leave their housing units, then he walks the five minutes from his... Read more of this article

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Will banksters get away with it?

Danny Schechter, Al-Jazeera Hats off to Matt Taibbi for staying on the Wall Street crime beat, asking in his most recent report in Rolling Stone: “Why Isn’t Wall Street in Jail?” “Financial crooks,” he argues, “brought down the world’s economy — but the feds are doing more to protect them than to prosecute... Read more of this article

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