A BILL To Terminate the Home Affordable Modification Program of the Department of the Treasury
A BILL To Terminate the Home Affordable Modification Program of the Department of the Treasury ~ 4closureFraud.org Tweet
Dexia Holdings v Countrywide: The Scope of the Fraud on the People, on the US Congress, and on the International Community May Begin to Unfold
Dexia Holding v Countrywide and the Sub-prime Crisis – the Scope of the Fraud May Begin to Unfold By Joseph Zernik Los Angeles, January 27 – upon review of the complaint in Dexia Holdings Inc et al v Countrywide Financial Corp et al,[[i]] it appears that the scope of the fraud on the People, on … Read more
NY Times | A Reservist in a New War, Against Foreclosure
Erik Holladay for The New York Times Sgt. James B. Hurley on a bridge near the property he lost to foreclosure while serving with the National Guard in Iraq. While Sgt. James B. Hurley was away at war, he lost a heartbreaking battle at home. In violation of a law intended to protect active … Read more
Daily Finance | Did Bear Stearns Know Its Mortgage Securities Were a House of Cards?
Did Bear Stearns Know Its Mortgage Securities Were a House of Cards? This week, a lawsuit filed against Bank of America detailed the worst mortgage practices at Countrywide — which BofA acquired in 2008. The suit charged that Countrywide had, as a policy, disregarded borrowers’ ability to repay their loans because fraudulently securitizing the mortgages … Read more
Left Behind | Troubled Foreclosed Properties and Servicer Accountability in Chicago
Executive Summary The following report illustrates the relationship between foreclosures and vacant properties in the City of Chicago. It combines data from the City of Chicago on vacant and potentially vacant buildings with data on foreclosure filings, completed foreclosure auctions, and property transfers to better understand the number of vacant properties that have at some … Read more
Govt’s Loan Mod Program Crippled by Lax Oversight and Deference to Banks
Govt’s Loan Mod Program Crippled by Lax Oversight and Deference to Banks by Paul Kiel and Olga Pierce ProPublica, Jan. 27, 2011 With millions of homeowners still struggling to stay in their homes, the Obama administration2019s $75 billion foreclosure prevention program has been weakened, perhaps fatally, by lax oversight and a posture of cooperation2014rather than … Read more
A Frightening Satellite Tour Of America’s Foreclosure Wastelands
RealtyTrac is out with the total foreclosure numbers for 2010. On the whole things are getting worse. 72 percent of major metro areas saw an increase in foreclosure volume. Although some of the worst hit areas in Nevada, California and Florida improved from 2009, the foreclosure rate in these areas remains shockingly high. If not for … Read more
Florida House Representative George R. Moraitis, Jr. Values Your Input on Expedited Foreclosures and Goals for the Judicial System
Below is an email that was forwarded to me from Florida House Representative George R. Moraitis, Jr. It seems that he is more concerned that our judiciary become an auction house instead of a place where constitutional rights and due process of law is upheld. He suggests “expediting cases in which there are no legitimate … Read more
NAMB, National Association of Mortgage Brokers Asks Fed for 12 Month Delay in Reg Z Changes
The National Association of Mortgage Brokers recently sent a letter to the Federal Reserve asking for a 12-month delay in enforcing changes to Regulation Z and for further clarification to loan originator compensation. These changes, to protect borrowers, must be complied with by April 2011. From the letter… The National Association of Mortgage Brokers (“NAMB”) … Read more
Foreclosure Mills Pocketed $50M From Fannie, Freddie
Foreclosure Mills Pocketed $50M From Fannie, Freddie — By Andy Kroll In late November, as the Foreclosure-gate scandal spread throughout the country, Rep. Randy Neugebauer (R-Tex.) demanded to know how much money Fannie Mae and Freddie Mac, the wounded quasi-government housing corporations, had paid to multiple sleazy law firms at the heart of the foreclosure … Read more
The Financial Crisis Inquiry Report Official Government Edition
THE FINANCIAL CRISIS INQUIRY REPORT http://www.fcic.gov/watch http://www.fcic.gov/report ~ 4closureFraud.org Tweet
Daily Finance | Foreclosure Document Fraud Drives Notaries to Take the Fifth
Foreclosure Document Fraud Drives Notaries to Take the Fifth Among the many legal problems now being discovered with the foreclosure documents that banks have been using are false notarizations. The most typical variety of this problem occurs when a notary certifies that the person whose signature appears on a document really did sign it, even … Read more
Lee County Rocket Docket | Foreclosure Alternative Out of Reach for Homeowner
Click Through to View ~ Foreclosure Alternative Out of Reach for Homeowner Another big development out of Lee County’s rocket docket – that’s the accelerated foreclosure court. Four In Your Corner learning of at least one case where a judge has prevented a homeowner from using a government program that could have helped her avoid … Read more
Daily Finance | Architect of Florida’s Infamous ‘Rocket Docket’ Foreclosures
Architect of Florida’s Infamous ‘Rocket Docket’ Foreclosures By ABIGAIL FIELD Lee County, Florida has become infamous for speeding foreclosure cases through its courts. The super-charged system — or “rocket docket” – can dispense with a foreclosure case in minutes, sometimes mere seconds. In the interests of speed, the courts have even refused requests for delay … Read more
NY Times | Financial Crisis Was Avoidable, Inquiry Finds
Stefan Zaklin/European Pressphoto Agency The commission’s report finds fault with two Fed chairmen: Alan Greenspan, right, a skeptic of regulation who led the central bank as the housing bubble expanded, and his successor, Ben S. Bernanke, who did not foresee the crisis but then played a crucial role in the response to it. Financial … Read more
SIGTARP | January 2011 Quarterly Report to Congress
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More “Deadbeats” | Church Foreclosures Surge, Seen as ‘Next Wave’ in Crisis
Churches Find End Is Nigh The Number of Religious Facilities Unable to Pay Their Mortgage Is Surging ROSEVILLE, Calif.—Residential and commercial real-estate owners aren’t the only ones losing their properties to foreclosure. The past few years have seen a rapid acceleration in the number of churches losing their sanctuaries because they can’t pay the mortgage. … Read more
Daily Finance | Bank of America Sued for Countrywide’s Mortgage Sins, Again
Bank of America Sued for Countrywide’s Mortgage Sins, Again By ABIGAIL FIELD On Monday, a group of institutional investors sued Bank of America, Countrywide, their affiliates, and various former Countrywide executives including former CEO Angelo Mozillo, charging that Countrywide knowingly sold vast quantities of fraudulent mortgages in order to securitize them and sell them to … Read more
Hawaiian Attorney Non-Judicial Foreclosure – Due Process Violation Question to the US Supreme Court
This is the first real chance in 100 years for the United States Supreme Court to do something about nonjudicial foreclosures. Due Process Questions USSC re non-judicial foreclosure ~ 4closureFraud.org Tweet
Iowa AG Miller to Hear Demands for Criminal Prosecutions, Loan Modifications Today
Iowa AG Miller to Hear Demands for Criminal Prosecutions, Loan Modifications Hundreds of Iowans meeting Tom Miller to Demand a Strong National Settlement in the Foreclosure-gate Investigation Des Moines, IA – Following their December 14th meeting with Iowa Attorney General Tom Miller, who is leading the 50-state investigation of the “foreclosure-gate” scandal, over 250 members … Read more
