Judge Slaps Wells Fargo in Foreclosure | KENG HEE PAIK, Plaintiff, v. WELLS FARGO BANK, N.A.
Judge Slaps Wells Fargo in Foreclosure SAN FRANCISCO (CN) – A woman can stay in her home, for now, after a federal judge granted her a temporary restraining order preventing Wells Fargo from proceeding with a foreclosure. Keng Hee Paik said the bank had not provided her “with ‘any documents whatsoever’” when she took out … Read more
FCRA Report | What the Fair Credit Reporting Act Should Teach Us About Mortgage Servicing
What the Fair Credit Reporting Act Should Teach Us About Mortgage Servicing Progressive Recommendations to Protect Home Mortgage Consumers Peter Swire January 2011 Introduction Our nation’s recent housing crisis revealed deep flaws in the way monthly mort- gage payments by homeowners are handled by mortgage servicers—the compa- nies that collect monthly mortgage payments from homeowners … Read more
L. Randall Wray | Memo to Banks: You are Toast
Memo to Banks: You are Toast The big banks are reporting that profits are up. Citigroup is celebrating a 46% gain in share prices and net income of $1.31 billion. Wells Fargo just reported strong profits.Yet there are many reasons to doubt the good news. As I’ve said before, it is more likely that they … Read more
Daily Finance | Why Paperwork Matters: Consider This Mortgage Mess
Why Paperwork Matters: Consider This Mortgage Mess By ABIGAIL FIELD Judge Shelley C. Chapman, of the U.S. Bankruptcy Court for the Southern District of New York, has ordered HSBC and Litton Loan Servicing (a Goldman Sachs subsidiary) to send officers with some juice — and not low-level types — to her Manhattan courtroom on Feb. … Read more
Multiple Pledged Notes | Freddie Mac / Bank of America / Taylor Bean Whitaker – IMPORTANT INFO & STATEMENT REGARDING ASSIGNMENTS… TRANSFERS… NOTE OWNERSHIP…
“Indeed, it appears as though many loans and other mortgage-related assets have been double and even triple-pledged to various constituencies“ With all the MERS rhetoric going around today, and all of the other misinformation coming out of the Mortgage Bankers Assosiation Summit from yesterday, I felt this would be a good Blast from the Past … Read more
Homeowner Class Action Filed Against Bank of America, Challenging Ownership of Homes Obtained Through Improper Mortgage Foreclosures
Homeowner Class Action Filed Against Bank of America, Challenging Ownership of Homes Obtained Through Improper Mortgage Foreclosures Teresa O’Neal and Marco Delgado, through the law firm of Forizs & Dogali, P.A., have filed a statewide class action against Bank of America alleging improper action during mortgage foreclosures. This case is different from other similar lawsuits … Read more
Sen Jeff Merkley Letter to President Obama Re Fraudclosure Crisis
Jeff Merkley Letter to President Obama Re Fraudclosure Crisis ~ 4closureFraud.org Tweet
Top Corporate Lawyer Claims Mortgage Rates Will Skyrocket Without MERS
Top Corporate Lawyer Claims Mortgage Rates Will Skyrocket Without MERS By: David Dayen Laurence Platt, a partner at the firm K&L Gates, which defended Wells Fargo and US Bank in the Ibanez case, basically threatened the American homeowner with sky-high interest rates if the banks aren’t allowed to run their own private land recording system. … Read more
The Market Ticker | The MERShole Emits More….. Half-Truths?
The MERShole Emits More….. Half-Truths? I have in my hot little hands a nice transcript of part of the committee hearing in Virginia where, if you recall, there is a bill pending that would end many of the abuses in the foreclosure realm that have dogged homeowners for the last several years. MERS doesn’t like … Read more
Bloomberg | Wells Fargo Won’t ‘Pay Up’ to Settle Mortgage Buybacks
Lets Get Ready to Rumble!! ~ Wells Fargo Won’t ‘Pay Up’ to Settle Mortgage Buybacks Wells Fargo & Co. won’t seek a settlement with Fannie Mae or Freddie Mac on disputed mortgages, and terms offered to rival banks may not have been as generous as some portrayed, Chief Financial Officer Howard Atkins said. “The quality … Read more
Daily Finance Must Read Report | Who’s to Blame for the Mortgage Mess? Banks, Not Homeowners
Who’s to Blame for the Mortgage Mess? Banks, Not Homeowners By ABIGAIL FIELD As the foreclosure crisis has escalated over the past several months, one overarching debate has been about who bears the most blame: homeowners or banks? After everything I’ve learned and written about the foreclosure mess, my verdict is: The banks are responsible … Read more
