SEC Charges Former Supervisor Teresa A. Kelly at Colonial Bank for Role in Securities Fraud Scheme
SEC Charges Former Supervisor at Colonial Bank for Role in Securities Fraud Scheme FOR IMMEDIATE RELEASE 2011-68 Washington, D.C., March 16, 2011 – The Securities and Exchange Commission today charged the former operations supervisor of Colonial Bank’s mortgage warehouse lending division (MWLD) with participating in a $1.5 billion securities fraud scheme. The SEC alleges that … Read more
Jeffrey Stephan SANCTION | Motion for Relief GRANTED, Attorney’s Fees Awarded on Affidavit Made in Bad Faith
Below is an order from a Florida Judge in regards to a Jeffrey Stephan Affidavit that was submitted in a foreclosure case by the Florida Default Law Group… For those who do not know who Mr Stephan is, I suggest Googling his name… He is that guy that Robo-signed approx 10,000 affidavits a month with … Read more
Home Wreckers | How Wall Street Foreclosures Are Devastating Communities
Did you know that, in California alone, the total cost of the foreclosure crisis to homeowners, the property tax base, and local governments could add up to at least $650 billion and possibly reach as much as $1 trillion? That’s just one of the major findings of a new report, Home Wreckers: How Wall Street … Read more
Congressional Oversight Panel Releases Final Report on the Troubled Asset Relief Program
Sen. Ted Kaufman Introduces COP’s March Report ~ Congressional Oversight Panel Releases Final Report on the Troubled Asset Relief Program TARP Provided Critical Support but Distorted Markets and Created Public Stigma WASHINGTON, D.C. – The Congressional Oversight Panel, which was established by Congress in late 2008 to oversee the $700 billion Troubled Asset Relief Program … Read more
F.D.I.C. Approves ‘Too Big to Fail’ Plan, Looks for Public Comments
F.D.I.C. Approves ‘Too Big to Fail’ Plan A top banking regulator approved a plan to seize and unwind big banks — a proposal that will help address those “too big to fail” firms whose collapse could imperil the financial system. The board of Federal Deposit Insurance Corporation voted unanimously on Tuesday to approve a set … Read more
The Jack Booted Thugs Coming to Break Into a Home Near You
The Jack Booted Thugs Coming to Break Into a Home Near You By Matthew Weidner Last week, I was a speaker at the National Bankruptcy Institute. During my presentation, I was describing how the banks were literally driving around this country, breaking into homes and doing whatever they damn well pleased….with no consequence and no … Read more
Naked Capitalism | Obama Pressing for a “Shock and Awe” Mortgage Mod Program, 3 Million in 6 Months
Obama Pressing for a “Shock and Awe” Mortgage Mod Program, 3 Million in 6 Months Given how well “shock and awe” worked in the Iraq war, I’d see the Administration’s use of that expression in the context of the mortgage mess as a Freudian slip. I must confess to being surprised at the report by … Read more
Yoss LLP (Adorno & Yoss) | Another Florida Firm that Processes Foreclosures Bites the Dust
And once again, more chaos for our courts… The firm released the following statement to employees Monday morning: As we are sure you are aware, these have been extremely difficult times for the firm. Over the past few months we have been dealing with many issues that have had a negative impact on the firm’s … Read more
