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If you want to join the crowd whining over the cancellation of the OCC’s Independent Foreclosure Review (“IFR”) Process, go ahead.  Last time I checked it’s still at least a quasi-free country in which you have the God given right to whine, I suppose, but why anyone is whining about the cancellation of this New Coke-on-steroids type of idea is frankly way beyond me, almost like some sort of giant delayed reaction.

Next let’s all get all outraged over what caused the credit markets to seize up in 2007.

Watching to the media jump all over the OCC’s abrupt cancellation of the Independent Foreclosure Review, first armed with wild innuendo as they went after the banks for the crime of the settlement, and today, begrudgingly shifting the focus to the OCC, like disappointed children that it’s turning out to just be another major government failure of thought.

Steve Dibert, MFI-Miami

RE/MAX co-founder and chairman Dave Liniger decided to play the Amazing Criswell and like the typical “everything is so peachy” realtor he is, he made some pretty optimistic predictions that sound like he was singing, Judy Garland’s redition of “Over The Rainbow":

Here's an email I received from a friend ... all legit and true. Inother words, not one of those scammy shitty emails you get that turns out to be BS. It's a reall person, in real trouble, trying to find a real solution. You can read the email below:

2012 Maine Special Olympics - Charlie got 3 medals (2 bronze and a silver)

This is my friend Charles, currently of Berwick, Maine. Charlie just turned 51 years old this past December, he lives with his sister Sandra and his twenty-two year old niece, as he has since 1999. I met the family in 2001, back when Sandra and I were both heavily involved in humane work. We quickly developed a friendship that, over the years, has morphed into family.

John O'Brien, Register of Deeds in Essex County MA announced in a press release today that he was seeking restitution for the fraud perpetrated on mortgages in his county. "I view this entire sad episode as no different from an oil spill, where the perpetrators are held criminally and civilly responsible to pay for the cleanup," he said.

Here's the entire press release:

REGISTER JOHN O’BRIEN CALLS ON COURT FOR RESTITUTION ON BEHALF OF THE HOMEOWNERS OF ESSEX COUNTY; OFFERS NATIONAL SOLUTION TO PUBLIC LAND RECORDS CRISIS

On the heels of a guilty plea by DocX founder and president Lorraine Brown, to mail and wire fraud, in the Federal Court in Jacksonville, Florida, Massachusetts Southern Essex County, Register of Deeds John O’Brien has filed an affidavit and a request for restitution on behalf of the citizens of his district. DocX was one of the largest mortgage related document preparers in the country representing a number of the major banks.

Roy Oppenheim’s commentary was originally published on Yahoo Homes! and is being redistributed on South Florida Law Blog with their permission

Those who cannot learn from history are doomed to repeat it.

We already know that the banks haven’t learned from their mistakes. They can and often will engage in risky behavior given the opportunity.

So why do regulators and those who have the chance to do something about it continue to give banks the wiggle room? Wall Street’s business model is inherently flawed, which is why banks are continually getting hit with hefty fines.

Yet banking lobbyists continue to hold immense clout in shaping regulation that will have a lasting impact on housing for years to come.