Gotta hand it to the lawyers and PR folk for the mortgage servicing Squaliformes Fairbanks Capital (kka SPS - Select Portfolio Servicing) and Homecomings (the GMAC/RFC sub-prime servicer).
After scamming hundreds of people in West Virginia out of their homes, the two Squaliformes have forgiven some $11M in debt and handed out about $750K in what West Viginia AG Darrell McGraw, Jr. says is "restitution."
And yet again, these two get away without having to admit they did anything wrong!
Homecomings' Stephen Dupont had the unmitigated gall to say the company "...did not initiate wrongful foreclosures nor did it engage in mortgage servicing abuses."
Speaking out of both sides of your mouth is an art form among these companies. Scam, get caught, fight against any meaningful punishment in the settlement, pay back a tiny fraction of the damage done to people, lie about the scam and keep on going!
Where's my cattle prod? And somebody get a rope. Make that several ropes. We'll do this all at once.
The Honorable Judge Roy Bean.
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