Mortgage Fraud – Ally/GMAC, BofA, Citi, Chase, OneWest, Wells

Posted by 4closureFraud on December 21, 2010 · 1 Comment 

Mortgage Fraud  Ally Financial/GMAC Bank of America Citibank JP Morgan Chase OneWest Bank Wells Fargo Bank Action Date: December 20, 2010 Location: Mercer County, NJ New Jersey State Supreme Court Chief Justice Stuart Rabner entered an order To Show Cause “In The Matter of Residential Mortgage Foreclosure Pleadings and Document Irregularities” in Civil Action No. … Read more

Filed under bankruptcy, cdo, cds, Corruption, Fannie Mae, foreclosure, Foreclosure Fraud, Foreclosuregate, freddie mac, MERS, mortgage electronic registration system, Mortgage Fraud, securities fraud

Foreclosure Fraud – Watching A House of Cards, Part 1

Posted by 4closureFraud on December 21, 2010 · 6 Comments 

Watching A House of Cards, Part 1 Nye Lavalle is best known for his sports predictions. With his family, he founded Sports Marketing Group and stunned many sportswriters with his accurate calls on the popularity of figure skating and NASCAR in the 1990s, among many others. Sixteen years ago, he began investigating mortgage fraud when … Read more

Filed under bankruptcy, cdo, cds, Corruption, Fannie Mae, foreclosure, Foreclosure Fraud, Foreclosuregate, freddie mac, MERS, mortgage electronic registration system, Mortgage Fraud, securities fraud

Open Letter to Bank Regulators on Mortgage Securitization and Servicing Practices

Posted by 4closureFraud on December 21, 2010 · 4 Comments 

Re: National Standards for Loan Servicing Dear Colleagues: We the undersigned write to you regarding the urgent need to develop national standards for originating, selling and servicing mortgage loans. The private residential mortgage securitization market is frozen as to new issuance. The housing market is suffering from a dearth of credit, which is causing a … Read more

Filed under Foreclosure Fraud

Brown Reaches Settlement With Wells Fargo Worth More Than $2 Billion to Californians With Risky Adjustable-Rate Mortgages

Posted by 4closureFraud on December 21, 2010 · 3 Comments 

“Wells Fargo is also required to pay $32 million in restitution to more than 12,000 pick-a-pay borrowers in California who lost their homes through foreclosure, plus approximately $1.8 million in costs to the state. Payments to foreclosed homeowners are expected to average more than $2,650.” ~ Brown Reaches Settlement With Wells Fargo Worth More Than … Read more

Filed under bankruptcy, cdo, cds, Corruption, Fannie Mae, foreclosure, Foreclosure Fraud, Foreclosuregate, freddie mac, MERS, mortgage electronic registration system, Mortgage Fraud, securities fraud

F.C.C. Is Set to Regulate Net Access as Fake Net Neutrality Proposal Gets Rubber-Stamped Today

Posted by 4closureFraud on December 21, 2010 · Leave a Comment 

Fake Net Neutrality Proposal to Get Rubber-Stamped Today By: David Dayen I mentioned yesterday that the FCC hearing on net neutrality would be streamed live this morning, but the drama was removed from the proceedings last night, when Michael Copps and Mignon Clyburn announced, with some reluctance, that they would support Julius Genachowski’s pretend net … Read more

Filed under bankruptcy, cdo, cds, Corruption, Fannie Mae, foreclosure, Foreclosure Fraud, Foreclosuregate, freddie mac, MERS, mortgage electronic registration system, Mortgage Fraud, securities fraud