Daily Finance | Court: Busted Securitization Prevents Foreclosure – Phyllis Horace vs Lasalle Bank National
Court: Busted Securitization Prevents Foreclosure By ABIGAIL FIELD On March 30, an Alabama judge issued a short, conclusory order that stopped foreclosure on the home of a beleaguered family, and also prevents the same bank in the case from trying to foreclose against that couple, ever again. This may not seem like big news — … Read more
Crisis? What Crisis? Average Bank Pay Kept Rising at the Same Rate
Crisis? What Crisis? Average Bank Pay Kept Rising at the Same Rate by Marian Wang ProPublica A number of reports on executive pay are out this week, including one on how bank pay seems to have been immune to the recession and unaffected by the bailouts. According to report yesterday in American Banker, even while … Read more
Apparently Bankers CAN GET CRIMINALLY INDICTED! Former Orion Bank President Jerry J. Williams Indicted for Conspiracy to Commit Bank Fraud and Deceive Bank Examiners
For Immediate Release March 31, 2011 United States Attorney’s Office Middle District of Florida Contact: (813) 274-6000 Former Orion Bank President Indicted for Conspiracy to Commit Bank Fraud and Deceive Bank Examiners FORT MYERS, FL—United States Attorney Robert E. O’Neill announces the return by a grand jury of an indictment charging Jerry J. Williams (51, … Read more
OUTRAGEOUS | Draft Uniform Servicing Standards – Proposed Deal from Bank to Attorney Generals
“Servicer will provide a single point of contact (“SPOC”), which may be more than one person, to any first lien, owner occupied, borrower suffering a hardship through the loss mitigation processes.” ~ Huh? And it gets better from there… Adam Levitin sums it up pretty well… Banks to AGs on Servicing Fraud: Drop Dead Here’s … Read more
Report | Federal Housing Finance Agency’s Oversight of Fannie Mae’s and Freddie Mac’s Executive Compensation Programs
Federal Housing Finance Agency’s Oversight of Fannie Mae’s and Freddie Mac’s Executive Compensation Programs The companies, whose fates are to be decided by Congress this year, paid a combined $17 million to their chief executives in 2009 and 2010, the two full years when Fannie Mae and Freddie Mac were wards of the state, the … Read more
Comptroller of the Currency Orders National Banks to Cover Up Foreclosure Scandal
Comptroller of the Currency Orders National Banks to Cover Up Foreclosure Scandal Acting head John Walsh is standing in the way of information that could help desperate homeowners. **You can follow Matt Stoller on Twitter at http://www.twitter.com/matthewstoller I was rereading some testimony by Mark Kaufman, the Maryland Commissioner of Financial Regulation, on mortgage servicer behavior. … Read more
