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

Home Snatchers

Nothing Has Changed: DiTech Mortgage Mess Puts Homeowner on Brink of Foreclosure

DiTech Mortgage Mess Puts Homeowner on Brink of Foreclosure If you have a home mortgage, it’s very probably your loan will change hands two or even three times, going from one loan servicing company to another. But what does that mean for you? Deb Conte says she felt like she was going to have a … Read more

Bankruptcy

Former Subprime Lender NovaStar Files for Bankruptcy

Former Subprime Lender NovaStar Files for Bankruptcy Before the 2008 financial crisis, Novation—then known as NovaStar—originated, purchased, sold, invested in, securitized and sold subprime mortgage loans and mortgage securities. At its peak, court papers say NovaStar originated more than $11 billion in mortgage loans a year, which it then bundled together into securities that it … Read more

fraudclosureCuffsCrime

Fraudclosure: Detroit’s Tax Foreclosure Hustle

Detroit’s foreclosure crisis is partly self-inflicted The first thing you notice about the street in front of Walter Hicks’ home is it’s peaceful. There are lots of trees, chirping birds, and most of the lawns are mowed. But then you see that the houses on either side of Hicks’ home are boarded up. And there … Read more

dayum

DAYUMMM! – Now Hiring: MERS Servicing Specialists Have Some Nice Perks

DAYUMMM! – Now Hiring: MERS Servicing Specialists Have Some Nice Perks Job description The Gig As a MERS Servicing Specialist the team member will focus on all MERS processes (Mortgage Electronic Registration System), including registration, creating batches, accepting batches, reports, and working with our internal team members, brokers and correspondents. The MERS Servicing Specialist will … Read more

Subprime

THE SUBPRIME U.S. ECONOMY: Disintegrating Due To Subprime Auto, Housing, Bond And Energy Debt

THE SUBPRIME U.S. ECONOMY: Disintegrating Due To Subprime Auto, Housing, Bond And Energy Debt The U.S. financial system continues to disintegrate even though most Americans hardly notice.  The system is being gutted from the inside out… much the same way a chronic disease weakens a patience even before any symptoms are felt.  However, we are … Read more

fed philly

FEDSPEAK: A Qualitative Exploration of Affordability and Availability of Rental Housing

Federal Reserve Bank of Philadelphia Beyond the Numbers A Qualitative Exploration of Affordability and Availability of Rental Housing in the Third Federal Reserve District: 2015 Noelle Baldini Abstract In February 2015, the Community Development Studies & Education (CDS&E) Department of the Federal Reserve Bank of Philadelphia released a publication titled Affordability and Availability of Rental … Read more

Pennies

Indiana Court of Appeals: Borrower, Not 1st Lien Holder, Entitled to 2nd Mortgage Foreclosure Surplus Funds

“Foreclosures must follow statutory procedures, including those related to the payment of sheriff’s sale surpluses. Patterson v. Grace, 661 N.E.2d 580, 586 (Ind. Ct. App. 1996). Although equity greatly influences foreclosure proceedings, trial courts are not free to deviate from clear statutory procedures, including those set forth in Indiana Code Section 32-30-10-14.” ~ COA: Woman, … Read more

Foreclosure Crisis

Meet Nana I Am, The Mystery Man Behind a Bizarre Las Vegas Squatter Case

Meet Nana I Am, The Mystery Man Behind a Bizarre Las Vegas Squatter Case Editor’s Note: This is Part One of a two-part series. He sues all the time but never seems to win. He writes his name countless different ways. Accused squatters say he gave them keys to an abandoned, custom-built house and coached … Read more