ALERT – HAWAII LEGISLATURE PASSES SB 651 RELATING TO MORTGAGE FORECLOSURES

ALERT – HAWAII LEGISLATURE PASSES SB 651! Posted by VIRGINIA Netra Halperin called and alerted us that SB 651 just PASSED!  We’re not sure of the effective date – may be as early as October 2011.  We need to lobby hard to get it in play as soon as possible.  It has some very good … Read more

SB 1259 | Now this is Getting Ridiculous – AZ Rep. Carl Seel Drops Amendment 2 Days After Servicer Grants 56% Principal Reduction

Time to break out the tin foil hats? It looks like the SB1259 “conspiracy theory” just lost more of it’s “theory.” It is becoming more apparent that it is actually a full blown conspiracy. We discussed the events on this bill here, here, here, here and here… And now it just got a little more … Read more

Broken | U.S. Courts Face Backlogs and Layoffs

Or, does it really matter anymore? ~ They’re “flooded with cases from the bad economy, yet denied the resources needed to deliver justice” ~ U.S. Courts Face Backlogs and Layoffs Prominent lawyers warn that court budget cuts will harm the economy Stephen Zack, president of the American Bar Assn., compares the effect of recent state … Read more

Just Remember, It All Goes Back in the Box…

It All Goes Back in the Box In the end… it all goes back in the box… “What we do for ourselves dies with us. What we do for others and the world remains and is immortal.” -Albert Pine Remember that next time… I’m going out to have a beer… ~ 4closureFraud.org Tweet

Federal Agencies LPS Consent Order Allows for SERVICER Restitution

Federal Agencies LPS Consent Order Allows for SERVICER Restitution Posted by L I’m compiling the time line and came across part 2(f)(v) on page 11 of the LPS consent order here. (v) measures to reimburse the Examined Servicer or borrower, as appropriate, for financial injury from the document execution services provided by LPS; Here’s the … Read more

MERSCORP Names Bill Beckmann, Formerly of CitiMortgage, New President & CEO

MERSCORP Names Bill Beckmann New President & CEO | Mortgage Industry Veteran Will Also Lead Subsidiary FOR IMMEDIATE RELEASE Contact: Janis L. Smith, Vice President of Corporate Communications Tel: 703-738-0230 RESTON, Virginia (April 29, 2011)—MERSCORP, Inc. today announced the appointment of mortgage industry veteran Bill Beckmann as president and chief executive officer of MERSCORP, Inc., … Read more

Fraudclosure | Mortgage Review Urged at Bank of America

  Mortgage review urged at Bank of America 2 advisory firms support requiring study, up for vote at bank’s annual meeting. Excerpts from the report… An advisory firm on Thursday backed seven out of eight shareholder proposals up for a vote at Bank of America Corp.’s annual meeting next month, including one that would require … Read more

The Foreclosing Adventures of Pinocchio | Two Foreclosure Cases, Four Assignments, on Same Note and Mortgage

The Foreclosing Adventures of Pinocchio Posted by L The industry is scrambling to clean up their mess – yes, the one that crashed the global economy & left millions of Americans jobless, homeless, dispossessed, destitute.  Their puppet politicians, regulators, & law enforcers have been, with a few notable exceptions, compliant with their marching orders.  Much … Read more

WSJ | Judges See Little Improvement in Fraudclosure Procedures

  Judges See Little Improvement in Foreclosure Procedures Some judges are skeptical of claims by lenders that they have substantially improved their foreclosure procedures since controversy over the practices exploded last fall. F. Dana Winslow, a N.Y. State Supreme Court Justice in Long Island’s Nassau County, said there has been only “a marginal improvement in … Read more

Orange County | Clerk’s Office aims to stop bogus foreclosure sale prices

Here is a little follow up on Fraudclosure Auctions: Bogus Prices Hiding Profit and Creating False Home Values. Clerk’s Office aims to stop bogus foreclosure sale prices The Orange County Clerk of Courts office took a definitive step Tuesday in preventing investors buying up foreclosure properties from overpaying documentary stamp taxes on their new properties and … Read more

The Mortgage Was Like a Shell Game; So Is Responsibility in 3 Deaths

  Another tragic story brought to you by irresponsible banksters. This should never happen… The Mortgage Was Like a Shell Game; So Is Responsibility in 3 Deaths The promise made by a mortgage company in San Diego could not have been more blunt. “Accredited Home Lenders offers an unusually broad line of subprime mortgage products … Read more

Service Member Abuse | A Foreclosure Problem Congress Couldn’t Ignore

A Foreclosure Problem Congress Couldn’t Ignore After a news report showed banks were improperly foreclosing on members of the military, the companies are scrambling to fix the problems and camo-wash their images. Some excerpts from the report… Yet that’s what the entire mortgage industry is doing. And the reason for it is simple. The banks … Read more

PB Post | Two more indicted in alleged Versailles mortgage fraud

Here is the story in the Palm Beach Post… Two more indicted in alleged Versailles mortgage fraud Carl Alexander bet big on Versailles real estate deals. This week, they lost big, indicted for their part in alleged mortgage fraud in the upscale Wellington community. They join 24 others who have been indicted or charged in … Read more

West Virgina | Forgeries by Banks are Outrageous “Any West Virginians facing foreclosure should examine court papers carefully”

“But they made a fatal mistake when they tried to seize the home of Lynn Szymoniak, a lawyer who specializes in forgeries.” ~ Editorial, April 26, 2011:Forgeries by banks are outrageous CHARLESTON, W.Va. — If Average Joe forged a legal document, he would land in prison. But big Wall Street banks have been caught forging … Read more

NY Times | A.I.G. to Sue 2 Wall Street Firms to Recover Some Losses Contending that it was the Victim of Fraud

A.I.G. is preparing several suits against banks, like Bank of America and Goldman Sachs, that created the $40 billion in mortgage bonds, according to the person with knowledge of the litigation, who was not authorized to talk about it publicly. The company says it believes the banks issued misleading statements about the quality of the … Read more

FL 4th DCA | (Bank) Lawyers ARE Above the Law – STATE OF FLORIDA, OFFICE OF THE ATTORNEY GENERAL, v. SHAPIRO & FISHMAN, LLP

DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FOURTH DISTRICT January Term 2011 STATE OF FLORIDA, OFFICE OF THE ATTORNEY GENERAL, Appellant, v. SHAPIRO & FISHMAN, LLP, Appellee. No. 4D10-4526 [April 27, 2011] The issue presented in this appeal is whether the trial court erred in quashing a civil investigative subpoena duces tecum issued … Read more

Exclusive: IRS weighs tax penalties on mortgage securities and Possible Industry Cover Up

Empty REMICS ~ Exclusive: IRS weighs tax penalties on mortgage securities (Reuters) – The Internal Revenue Service has launched a review of the tax-exempt status of a widely-held form of mortgage-backed securities called REMICs. The IRS confirmed to Reuters that the review comes in response to mounting evidence that banks violated tax requirements by mishandling … Read more

Bloomberg | Bank of America Said to Target Individual States to Block Foreclosure Deal

  Bank of America Said to Target Individual States to Block Foreclosure Deal Bank of America Corp. (BAC) was accused by a top official at the Iowa attorney general’s office of engaging in a divide-and-conquer strategy by undermining support for the settlement of a nationwide probe into foreclosure practices, a person familiar with the matter … Read more

Another One Bites the Dust | Ben-Ezra & Katz to close, second South Florida foreclosure firm to shut its doors

  Ben-Ezra & Katz to close, second South Florida foreclosure firm to shut its doors by Kim Miller The Fort Lauderdale-based Ben-Ezra & Katz law firm gave layoff notices today to 146 employees as it moves toward shutting down operations, a spokesman for the company confirmed. An additional 8 employees will be laid off from … Read more

Robosigner Do-Si-Do | Linda Green of DocX/LPS Correcting Brian Bly of Nationwide Title Clearing

Robosigner Do-Si-Do Linda Green correcting Brian Bly Posted by L If a family weren’t losing their home over this nonsense, one could find humor in the robosigner dosie-do. First we have the LP… Kahane LP   Then we have the assignment of mortgage by Bryan Bly… Brian Bly of CitiResidential Assignment of Mortgage  Opps… Looks like … Read more