Whistleblowing on the mortgage industry
You don’t know me.
I’m A Bank Whistleblower And You Can Be Too
I made a career exposing the inner workings of the mortgage and insurance industries.
How to Blow the Whistle (from a Bank Whistleblower)
I know that when you say “mortgage lenders,” you mean “mortgage servicers.”
I explained to the FHFA how regulation currently works and how it should look in a fair economy.
Why You Should Encourage Whistleblowing At Your Company
I survived severe retaliation from the loan servicing industry (including all collateral loans and not just mortgages).
From Corporate Cubicle-Monkey, To Whistleblower, To Successful Freelance Writer! By Brian Penny
Now I’m a writer. Each of those links is from a respected media source and was authored by me. I’m a gonzo journalist and SEO specialist – even I couldn’t erase me from the history books with as many regulators as I’ve trained, court documents as I’m listed on and research projects I’ve participated in.
My Google author ranking is awesome, and I still know everything you could ever want to know about the mortgage, insurance, and business operations in general.
They can change the systems, and I’d still figure my way through – hell I still know a lot of the people, and they all remember me quite clearly.
I’m the biggest threat to the mortgage servicing industry, which consists of all the banks you’ve heard of. The mortgage lending industry is the VA, FHA, FHFA, etc., which amounts to the government, which is the taxpayers, which is ultimately all of us.
The loan servicers you’re likely thinking of are the “too big not to fail” banks, investment firms, etc.
Security is their biggest problem, and some blabbermouth who knows all the inner workings, screens, queries, reports, processes, ERM procedures, training, platforms, and systems is a threat.
The problem for lenders is the loan tracking don’t use a unified system, so reporting is done on about 30 proprietary systems and reported. They have no clue the status of their loans except what’s reported to them by the loan servicers.
The best forensic accountant would have to learn at least a dozen systems and how the reports work to even begin looking at any real loan history.
Deregulation is a problem for lenders, but a boon to servicers, brokers, reinsurers, insurers, and everyone else with their hands in the kitty. Government regulation is what will fix this economy and help lenders and consumers stop being fleeced by servicers and brokers trying to make profits.