Busted | Foreclosure Mill Files Fake “Original Note”, Gets Caught
How this $83 fountain pen helped save a family home from foreclosure Fountain pens and foreclosures In these days of robo-signers and rocket-dockets, you can easily imagine losing your family home at the stroke of a pen—based on the signature on a perjured affidavit, or the order of a hurried judge—but how often have you … Read more
LPS | Lender Processing Services’ 10K Lists DOCX as Subsidiary as of January 31, 2011
Now this is interesting… Per Lender Processing Services (LPS) press release dated 12/10/2010 responding to a Reuters article that LPS, apparently, found to be unfair: ( http://www.lpsvcs.com/NewsRoom/Pages/20101210b.aspx ) “Instead of casting blame on LPS, your reporter might more fairly have explained that LPS – on its own – uncovered and corrected deficiencies in practices … Read more
$231 Million Fraudulant MBS’s | Allstate Insurance Co. v. Credit Suisse Securities (USA) LLC
Allstate Sues Credit Suisse Over Mortgage-Backed Securities Allstate Corp., the largest publicly traded U.S. home and auto insurer, sued Credit Suisse Group AG units over claims they fraudulently sold the insurer more than $231 million of residential mortgage-backed securities. “The systemic (but hidden) abandonment of the disclosed underwriting guidelines led to soaring default rates in … Read more
Financial Terrorism | Economic Warfare: Risks and Responses
Financial terrorism suspected in 2008 economic crash Pentagon study sees element Evidence outlined in a Pentagon contractor report suggests that financial subversion carried out by unknown parties, such as terrorists or hostile nations, contributed to the 2008 economic crash by covertly using vulnerabilities in the U.S. financial system. The unclassified 2009 report “Economic Warfare: Risks … Read more
Foreclosure Freeze | HSBC 10K Report on Fraudclosure “Deficiencies”
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Commission file number 1-8198 HSBC FINANCE CORPORATION ~ We may incur additional costs and expenses in ensuring that we satisfy requirements relating to our mortgage foreclosure processes and the industry-wide delay in processing foreclosures may have a significant impact upon loss severity. State and federal officials … Read more
Fraudclosure | HSBC Halts All Foreclosures Until Further Notice
HSBC CEO Irene Dorner, October 2010: “We have looked. We don’t have robo-signers,” HSBC has not suspended foreclosures and “we don’t believe we have a reason to do so,” she said. ~ HSBC suspends foreclosure actions Bank made disclosure in annual SEC report HSBC Bank USA and HSBC Finance Corp. have stopped all home foreclosures … Read more
Georgia | HB237 Foreclosure Fraud Bill Passes Out of House Committee
PRESS ADVISORY Monday, February 28, 2011 Foreclosure Fraud Bill Passes Out of House Committee; Attorney General Unveils Mortgage and Foreclosure Webpage Attorney General Sam Olens applauded today’s action by the House Judiciary (Non-Civil) Committee to recommend “Do Pass” on HB 237. HB 237, introduced by Representative Rich Golick, would prohibit misstatements with the intent to … Read more
