Brooklyn Beatdown! Judge Shack Slams Citi “The Court does not work for CITI and cannot wait for CITI to get its “act” together”
CitiMortgage, Inc., Plaintiff, against Angela Nunez, et. al., Defendant. In this foreclosure action, plaintiff, CITMORTGAGE, INC. (CITI), moved for summary judgment and an order of reference for the premises located at 38 Norwood Avenue, Brooklyn, New York (Block 3905, Lot 28, County of Kings). On October 25, 2010, the case was on my motion calendar … Read more
NY JUDGE DENIES 127 FORECLOSURES PURSUANT TO ADMINISTRATIVE ORDER FROM CHIEF JUDGE, ROBO SIGNING
This comes in from StopForeclosureFraud… MIND-BLOWING!! NY JUDGE DENIES 127 FORECLOSURES PURSUANT TO ADMINISTRATIVE ORDERS FROM CHIEF JUDGE, ROBO SIGNING Pursuant to an Administrative Order of the Chief Judge, dated October 20, 2010, all residential mortgage foreclosure actions require an affirmation from the attorney representing the plaintiff/lender/bank, as stated in the affirmation attached to this … Read more
Man Facing Foreclosure Sent to Prison for Attempting to Blow Up House
“Financial woes and English’s struggle to provide for his wife, who is disabled, led to the incident” ~ Trying to blow up house lands man in prison HAMILTON — A Middletown man who attempted to blow up his Queen Avenue home in July, causing the evacuation of his neighborhood in the process, is going to … Read more
L. Randall Wray – Anatomy of Mortgage Fraud, Part III: MERS’S Role in Facilitating the Mother of All Frauds
L. Randall Wray Professor of Economics and Research Director of the Center for Full Employment and Price Stability, University of Missouri–Kansas City Anatomy of Mortgage Fraud, Part III: MERS’S Role in Facilitating the Mother of All Frauds This is the final in a three-part series. Read Part 1 here and Part II here. In the … Read more
Lender Processing Services Makes False Statements About Pending Litigation in SEC Filing
Lender Processing Services Makes False Statements About Pending Litigation in SEC Filing Shortly after Lender Processing Services became the target of class action lawsuits for alleged illegal legal fee-splititing in early October, an investor commented that he had never seen a company do such a poor job of crisis management. The company halted trading at … Read more
CNN – Record plunge in foreclosures, thanks to robo-signers
Record plunge in foreclosures, thanks to robo-signers NEW YORK (CNNMoney.com) — The number of foreclosure notices filed in November plunged 21%, the biggest month-over-month drop ever recorded by RealtyTrac, the online foreclosure marketer. Filings fell 14% compared with November 2009. The number of Americans who actually lost their homes to bank repossessions plummeted even more … Read more
Foreclosure/HAMP Hearing with Geithner: Congressional Oversight Panel Going on Now
CLICK LINK TO VIEW: http://cop.senate.gov/hearings/library/hearing-121610-geithner.cfm Testimony Witness Testimony The Honorable Timothy Geithner Secretary, United States Department of the Treasury Testimony Opening Statements Panel Member Statement Ted Kaufman, Chair, Congressional Oversight Panel Statement Damon Silvers Statement Richard Neiman Statement J. Mark McWatters Statement Kenneth Troske Statement ~ 4closureFraud.org Tweet
Adam Levitin and Tara Twomey White Paper on Mortgage Servicing
Abstract: This Article argues that a principal-agent problem plays a critical role in the current foreclosure crisis. A traditional mortgage lender decides whether to foreclose or restructure a defaulted loan based on its evaluation of the comparative net present value of those options. Most residential mortgage loans, however, are securitized. Securitized mortgage loans are managed … Read more
House Judiciary Committee Foreclosed Justice: Causes and Effects of the Foreclosure Crisis – Part II
Click Through to View Be sure to watch this in its entirety. It is a must see… The House Judiciary Committee held a hearing on the causes and effects of the mortgage foreclosure crisis as well as foreclosure practices by mortgages servicers. The Committee heard from a former homeowner who lost her family home in … Read more
