SEC Filing | New York City Comptroller’s Office on behalf of the New York City Pension Funds Calls for Independent Review of Bank of America’s Internal Controls RE Fraudclosures
Comptroller of the City of New York 1 Centre Street New York, NY 10007-2341 (212) 669-3500 John C. Liu Comptroller April 14, 2011 Dear fellow Bank of America shareholder: On behalf of the New York City Pension Funds (NYC Funds), I urge you to vote FOR Proposal #7 at the Bank of America (BoA) Annual … Read more
Max Keiser Bravely Fends Off the Financial Trolls | “Hang the Bankers”
“Hang the Bankers” ~ 4closureFraud.org Tweet
New York | Gov Cuomo Vetoes Funding for Foreclosure Prevention Services
“This item passed by the Legislature, to which I object and do not approve, is a new appropriation, but is improperly characterized as a reappropriation. Accordingly, this item is disapproved.” ~ Cuomo vetoes pay for foreclosure prevention services Gov. Andrew Cuomo’s veto of $1.5 million to pay for foreclosure prevention services in New York shocked … Read more
Fannie Mae Memo | Prohibitions on Loss Sharing, Indemnification, and Settlement Agreements with Mortgage Insurers
I wonder if the $1.1 Billion BofA Settlement with Assured Guaranty had anything to do with this latest memo… ~ Announcement SVC-2011-04 Prohibitions on Loss Sharing, Indemnification, and Settlement Agreements with Mortgage Insurers Effective immediately, Fannie Mae is prohibiting servicers from entering into any agreement that modifies the terms of an approved mortgage insurance master … Read more
Bank of America Pays $1.1 BILLION to Settle Insurer’s Reps and Warranties Claims
“If someone robs a 7-11, they took $500 and they were able to settle the next day for $50 and no admission of wrongdoing, they’d knock over that 7-11 again.” - Phil Angelides Former FCIC Chairman ~ “The agreement covers 21 first-lien RMBS trusts and eight second-lien RMBS trusts, representing total original collateral exposure of … Read more
Shocking | Lender Processing Services Inc. Stock Downgraded (LPS)
From TheStreet: NEW YORK (TheStreet) – Lender Processing Services (NYSE:LPS) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including … Read more
Dylan Ratigan | Can We Trust Regulators
Click Through to View >>> well, years after the financial crisis, little has changed. banks are too big to fail, few executives, if any, have faced justice for nearly collapsing the financial system, or for that matter, the housing market. the rhetoric, however, today suggests that it might change. none of us, of course, have … Read more
Daily Finance | Will Homeowners Benefit from Mortgage Mess Settlement?
Some quotes from our friends… ~ Will Homeowners Benefit from Mortgage Mess Settlement? Lisa Epstein, a homeowner-rights activist and founder of ForeclosureHamlet.org, a social network of more than 3,000 distressed homeowners, is skeptical that the review will be substantial or truly independent. “They came out with weak, conciliatory try-to-do-it-better consent agreement that offers no hardcore … Read more
New Jersey | In the Matter of Residential Mortgage Fraudcosure Pleadings – Order DENYING Motion to Seal Servicer Portfolios
Looks like the banksters predrafted order to GRANT the sealing of the servicers portfolios was just DENIED. Not only was it denied, a special little note was handwritten in the bottom of the order: If any person requests a copy of the transcript of the oral argumant on the sealing motion, notice of the request … Read more
Here We Go Again | Banks, SEC in Talks to “Settle” Fraud Allegations Relating to the Sale of Toxic Mortgage Bonds
Banks, SEC in talks to settle mortgage charges: report (Reuters) – The securities regulator is in talks with major Wall Street banks to settle fraud allegations relating to the sale of toxic mortgage bonds to various investors that helped unleash the financial crisis, the Wall Street Journal reported, citing sources familiar with the matter. The … Read more
DEADBEAT | Morgan Stanley Fund Fails to Repay $3.3 bn Debt on Tokyo Property, Walks Away
Why would they do such a thing? The $4.2 billion MSREF V real estate fund missed its April 15 deadline to repay 278 billion yen($3.3 billion) worth of debt packaged in commercial mortgage-backed securities on the 32-story Shinagawa Grand Central Tower, a property which has seen its value plunge, two people involved in the transaction … Read more
