securitization

UNSEALED: DOJ Confirms Holders of Securitized Loans Cannot Be Traced

UNSEALED: DOJ Confirms Holders of Securitized Loans Cannot Be Traced Originally posted at http://mortgageflimflam.com With additional edits by http://4closurefraud.org In a filing unsealed on June 3, 2016, the Department of Justice (DOJ)  confirms what many of us have known for years. Nobody, not even the U.S. Government, with massive resources, can determine who owns your loan and … Read more

Wells Fargo

Maxine Waters to Stumpf: “Let’s call it what it really is: some of the most egregious fraud we’ve seen since the foreclosure crisis.”

“Let’s call it what it really is: some of the most egregious fraud we’ve seen since the foreclosure crisis.” Wells Fargo Chairman and Chief Executive John Stumpf returned to Capitol Hill to testify before the House Financial Services Committee, where angry lawmakers excoriated him over the bank’s admission that employees created some 2 million fake … Read more

stumpf

Rep. Gregory Meeks Destroys Wells Fargo CEO John Stumpf: House Financial Services Committee Hearing

“I got individuals right now who are on the street, on the street, they’re not back in their homes. They had these fraudulent mortgages. Nobody has said, oh I’m sorry that we gave you these fraudulent mortgages, we gonna put you back in your home and we are going to make sure that everything is … Read more

USbank

L.A., U.S. Bank Reach $13.5-Million Settlement on Foreclosed Homes in Disrepair

L.A., U.S. Bank reach $13.5-million settlement on foreclosed homes in disrepair The Los Angeles city attorney has reached a $13.5-million settlement with U.S. Bank to resolve allegations that the nation’s fifth largest bank operated as a slumlord and allowed hundreds of foreclosed properties to deteriorate, fostering crime and blight in L.A. neighborhoods slammed by the housing … Read more

Military

Wells Fargo Troubles Mount With Penalty for Improperly Repossessing Soldiers’ Cars

Wells Fargo Troubles Mount With Penalty for Soldiers’ Loans Wells Fargo & Co., reeling from weeks of pummeling over fraudulent customer accounts, is now facing a Justice Department sanction over improperly repossessing cars owned by members of the military, according to two people with knowledge of the investigation. Federal prosecutors and the bank’s regulator, the … Read more

Atomic

California Suspends ‘Business Relationships’ With Wells Fargo, Trillions at Stake

California Suspends ‘Business Relationships’ With Wells Fargo California, the nation’s largest issuer of municipal bonds, is barring Wells Fargo & Co. from underwriting state debt, from its banking transactions and in its investments after the company admitted to opening millions of bogus customer accounts. The suspension, in effect immediately, will remain in place for 12 … Read more

bubble

Like the Good Ol’ Days in So FL: Housing Market Frenzy at the Opening of a New Real Estate in Hangzhou

Housing Market Frenzy: Shocking Scene at the Opening of a New Real Estate in Hangzhou Surveillance camera caught the shocking moment a new real estate in east China’s Hangzhou city open for sale on Sept 24. The rush to buy was prompted by the introduction of restrictions on Monday which prevent people born outside Hangzhou … Read more

Pennies

Pinching Pennies in the Hedge-Fund Capital of America

Pinching Pennies in the Hedge-Fund Capital of America The lonely $250,000 S-Class coupe at Mercedes-Benz of Greenwich says it all. For six months, it’s been sitting in the showroom, shimmering in vain while models priced at only $70,000 fly out the door. “We haven’t had anyone come in and look at it,” says Joey Licari, … Read more

fraudclosureCuffsCrime

Nationstar Faces Allegations of Foreclosure Fraud, Again

“I don’t understand it. I never missed a payment. I don’t have a house anymore.” ~ Nationstar Faces Allegations of Foreclosure Fraud A Shelby County Circuit Court lawsuit and government records revealed a pattern of fraud allegations against mortgage-servicing company Nationstar Mortgage. The WMC Action News 5 Investigators launched an investigation of the Dallas-based mortgage-servicer after … Read more