JPMorgan Loses Court Ruling Over Loan Putbacks | Syncora Guarantee Inc v. EMC Mortgage Corp
JPMorgan loses court ruling over loan putbacks * Syncora can pursue claims based on entire loan pool * Insurer need not show breaches of individual loans NEW YORK, March 28 (Reuters) – JPMorgan Chase & Co (JPM.N) could be forced to repurchase thousands of home equity loans, after a judge ruled in favor of a … Read more
Draft Alternative Uniform Servicing Standards | Banks Offer Own Mortgage-Servicing Plan
Banks Offer Own Mortgage-Servicing Plan Five of the nation’s largest banks sent government officials a proposal Monday that outlines a set of mortgage-servicing standards they would abide by as part of a settlement of abuses in the industry. The document, reviewed by The Wall Street Journal, is a response to a 27-page term sheet banks … Read more
And the Infighting Continues | Chase Demands Ben-Ezra & Katz Turn Over Foreclosure Files
Chase demands Ben-Ezra & Katz turn over foreclosure files By Christine Stapleton Palm Beach Post Staff Writer Chase Home Finance has filed a federal lawsuit against its former legal counsel, Ben-Ezra & Katz, accusing the firm of refusing to hand over foreclosure case files that contain over $400 million worth of original notes and mortgages … Read more
Daily Finance | Why Your Bank May Be Wrong About What You Owe on Your Mortgage
Why Your Bank May Be Wrong About What You Owe on Your Mortgage By ABIGAIL FIELD Attention homeowners with mortgages, whether you’re current or in default: Double-check your mortgage bank’s math. There’s a significant chance that the bank is wrong about how much you owe them, particularly if you’re behind on your payments. The revelation … Read more
Anonymous | #BlackMonday – Fidelity LPS Navigation for Foreclosure Info
#BlackMonday – Fidelity LPS Navigation for Foreclosure Info While some lenders do utilize web-based proprietary systems (MortgageServ, Res.net, etc) for insurance and foreclosure tracking, the majority of the lenders in the US (including Bank of America, Aurora Loan Services, and OneWest) utilize the Fidelity LPS system, which is maintained by Fidelity National Financial. It seems … Read more
Today | Nationwide Call-In Day to the Attorneys General
Today, on March 29, we have the opportunity of a lifetime to save millions from losing their homes and hold accountable the big banks that caused this crisis. Right now, the 50 state Attorneys General are in critical negotiations with the big banks. The outcome of these negotiations could mean the difference between millions of … Read more
Deficiency Judgments | Foreclosures’ Hidden Risk: Debt that Haunts for Two Decades
Foreclosures’ hidden risk: Debt that haunts for two decades By Kimberly Miller and Christine Stapleton Palm Beach Post Staff Writers He once lived just steps from the ocean in a home valued last decade at more than $500,000 . But John Ericksen has fallen – far – and the bank that took away his Juno … Read more
Sewer Service | FL Service of Process Fraud, Notary Fraud. Gissen & Zawyer and Caplan Caplan and Caplan
THANK YOU LIZ MILLS! You are brave and courageous to come forward with the truth! Whistleblowers are so important to aid in the exposure of the massive foreclosure fraud & securities fraud that has felled this country, sending millions of families into poverty and dispossession. Liz Mills – THANK YOU! We all THANK YOU! A basic … Read more
BofA Lawsuit to Stay in State Court | State of Arizona vs. Countrywide, Bank of America, et al
BofA lawsuit to stay in state court AG says switch to federal level would slow its case over bank’s mortgage practices The Arizona attorney general’s lawsuit against Bank of America over alleged mortgage fraud will remain in state court. The lender had asked the case, filed in late December, be moved to federal court. State … Read more
No Mortgage Lenders in Jail, but a Borrower Lands There | In Prison for Taking a Liar Loan
In Prison for Taking a Liar Loan A few weeks ago, when the Justice Department decided not to prosecute Angelo Mozilo, the former chief executive of Countrywide, I wrote a column lamenting the fact that none of the big fish were likely to go to prison for their roles in the financial crisis. Soon after … Read more
Fisher and Shapiro Fraudclosures | Judge Suspends 1,700 Foreclosure Actions After Law Firm Admits Affidavits Were Changed
Altered documents halt some Cook County foreclosures Judge suspends 1,700 actions after law firm admits affidavits were changed March 25, 2011|By Mary Ellen Podmolik, Tribune reporter A Cook County Circuit Court judge has taken the unusual step of temporarily halting at least 1,700 mortgage foreclosures after a law firm told the court that the cases … Read more
Action Alert | Hawaii Legislators Wimped Out! Banks Got ‘Em.
Hawaii Legislators Wimped Out! Banks Got ‘Em. ALERT: VERY HIGH PRIORITY – make phone calls every day!!! Send faxes & emails. The Hawaii Legislature gutted the old bill HB 651 and REMOVED the MORATORIUM because the banks lobbied them hard…these are the folks you need to target your calls to in addition to the Finance … Read more
Marshall C. Watson | Florida Attorney General Pam Bondi Settles Investigation Against One of Florida’s Largest Foreclosure Firms
Florida Attorney General Pam Bondi Settles Investigation Against One of Florida’s Largest Foreclosure Firms NEWS RELEASE For Immediate Release March 25, 2011 Contact: Jenn Meale Phone: 850.245.0150 jennifer.meale@myfloridalegal.com Florida Attorney General Pam Bondi Settles Investigation Against One of Florida’s Largest Foreclosure Firms TALLAHASSEE, FL – Today Florida Attorney General Pam Bondi announced a first-of-its-kind settlement … Read more
Thank Attorney General Schneiderman for Standing Up for the Victims of Wall St. Crooks
Thank Attorney General Schneiderman for standing up for the victims of Wall St. crooks. There are strong reasons to believe that major players in the mortgage industry illegally cheated millions of people. But the Obama administration and federal banking regulators are pushing state attorneys general to accept a settlement with the major mortgage firms that … Read more
Fix or Evict? Families Facing Eviction Outnumber those Who Received a Loan Modification By 12 to 1
Banks’ Foreclosure Bias Hurts Investors New research by the Center for Responsible Lending finds that banks and other loan servicers often foreclose when investors have more to gain from a loan modification. The study—“Fix or Evict? Loan Modifications Return More Value than Foreclosures”—also finds that the industry’s poor track record on loan modifications can’t be … Read more
Reuters | Analysis: Doubts Raised on OCC Foreclosure Estimate
Analysis: Doubts raised on OCC foreclosure estimate (Reuters) – A Reuters analysis raises doubts about a widely cited statement by U.S. Comptroller of the Currency John Walsh that only a “small number” of wrongful foreclosure sales have occurred despite widespread misdeeds by banks that are the leading mortgage loan servicers. In a February appearance before … Read more
Dylan Ratigan | Collective Bargaining for Homeowners: Heroism or Terrorism? My Exclusive Interview with Stephen Lerner
Collective Bargaining for Homeowners: Heroism or Terrorism? My Exclusive Interview with Stephen Lerner Episode #47 – Steven Lerner, former director of the SEIU’s banking and finance campaign. Founder of WheresTheNote.com and Janitors for Justice Last night, I interviewed the man at the center of a new swirling controversy. Stephen Lerner, a veteran union organizer, wants … Read more
Why Is Glenn Beck After The SEIU?
The Market Ticker – Why Is Glenn Beck After The SEIU? The story began here: Lerner’s plan is to organize a mass, coordinated “strike” on mortgage, student loan, and local government debt payments–thus bringing the banks to the edge of insolvency and forcing them to renegotiate the terms of the loans. This destabilization and turmoil, … Read more
Fraudclosure | Bogus Letter Tells Man with Refinanced Mortgage to Pay Balance
Bogus letter tells man with refinanced mortgage to pay balance TAMPA – Two weeks before Glen Ables’ new, modified mortgage payment was to go into effect, a mysterious letter arrived in the mail. It threatened to derail the plan to save his house from foreclosure. That letter, from a Tampa lawyer, said he and his … Read more
Obama Administration Scales Back Proposed Homeowner Relief Effort Over Alleged Foreclosure Abuses
Obama Administration Scales Back Proposed Homeowner Relief Effort Over Alleged Foreclosure Abuses The Obama administration has significantly diminished a proposed homeowner relief program that initially aimed to force the nation’s five largest mortgage companies to reduce monthly payments for three million distressed homeowners, according to documents and people involved in the discussions. The administration has … Read more
