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Date Posted: 09:24:46 07/15/08 Tue
Author: JMR
Subject: Banks and foreclosures

Interesting article in the MWDN Business section July 14, 2008.

Framingham Native assumes top spot at Framingham Co-operative bank ( Mark Haranas )

Page C2 makes mention of this can of worms. "Real estate, specifically commercial real estate just happen to be the banks ( Framingham Co-operative bank) strong suit..as legal counsel I would attend weekly ( bank ) meetings and get the feel from the lenders what they were looking for, how they were analyzing the loans" says Mark Haranas "Then the loan would come in, and I would close it. So I was always involved with not only how the loan got from A to Z but also with the borrowers themselves"

My question is since this was the procedure for commercial real estate what was it for home buyers?

Did Mr Haranas get involved with these loans from A to Z?

Apparently a lot of Lawyers didn't because home foreclosures in this area were not scrutinized and illegal aliens with false papers and documents secured loans with out any money down and thus our news pages are full with foreclosures. A to Z involvement did not happen.

Are these bankers going to get prosecuted for this? These people KNEW what they were doing. The Immigrants always cry "we were scammed". The District Attorneys office should be hauling in Loan officers and their Lawyers and mortgage lenders by the truck load.

Joseph Rizoli
Framingham

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