Justice Department Settles with Bank of America and Saxon Mortgage for Illegally Foreclosing on Servicemembers
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, May 26, 2011 Justice Department Settles with Bank of America and Saxon Mortgage for Illegally Foreclosing on Servicemembers Settlement Includes a Minimum of $22 Million in Relief for Victims WASHINGTON – The Justice Department today announced settlements with two lenders under the Servicemembers Civil … Read more
Fraudclosure | Servicers Charging Over $2,700 for “Property Inspections” that Cost Just $9.60 a Pop
Mortgage servicer abuse facing state, fed probes On Wednesday, consumer defense attorney Linda Tirelli added another outrageous example of mortgage servicer misbehavior to her growing file of hundreds of such abuses against New York homeowners. The overcharging by a servicer — which manages mortgages day-to-day for lenders — to bill a homeowner in foreclosure over … Read more
AWESOME | Sarah Palin, Meet Linda Green (And MERS): Was Palin’s New Home Purchase Preceded By A “Robosigned” (And Fraudulent) Title Release
Now this is priceless… Sarah Palin, Meet Linda Green (And MERS): Was Palin’s New Home Purchase Preceded By A “Robosigned” (And Fraudulent) Title Release Yesterday we reported that Sarah Palin has just purchased a new property in North Scottsdale, AZ for $1.75 million. We further speculated that there may have been some fishyness with regard … Read more
Linda Green (LPS) (DOCX) | “This is a catastrophe of epic proportions.” (Video)
Click Through to View ~ Hank Investigates: Mortgage Documents Tonight — an exclusive investigation — if you’ve ever bought or sold a home…you need to hear this. Hank found a signature buried deep in your mortgage documents could be a ticking time bomb for thousands of Massachusetts homeowners. For those in foreclosure: it could be … Read more
Rep. Elijah E. Cummings Seeks Bank Subpoenas on Fraudclosure Crisis
Cummings seeks bank subpoenas on foreclosure crisis Baltimore Rep. Elijah E. Cummings on Wednesday requested that the House Oversight Committee issue subpoenas to six banks he said have refused to voluntarily provide documents detailing their role in the mortgage foreclosure meltdown. Cummings, the top-ranking Democrat on the committee who has made the foreclosure issue a … Read more
Foreclosure Contractors Face New Scrutiny From States
Foreclosure Contractors Face New Scrutiny From States by Marian Wang ProPublica While federal and state officials investigating flawed foreclosures [1] have largely focused on holding the banks accountable and bringing relief to wronged homeowners, officials in a few states have begun targeting the more obscure middlemen of the foreclosure scandal. Prosecutors in California and Illinois … Read more
ALERT | Rhode Island Secretary of State: Electronic Appearance of Notaries do not comply with state laws
Rhode Island Secretary of State: Electronic Appearance of Notaries do not comply with state laws http://sos.ri.gov/business/notary/ Following is the ALERT: Please be advised that pursuant to state law, all Notary Publics authorized to by his Excellency the Governor, may exercise said powers “within this state”. An individual completing an acknowledgment must do so “before” a … Read more
Streaming Broadcast – Banking and Financial Services Committee Hearing Testimony from Bill Hultman, Mortgage Electronic Registration Systems
Michigan… Watch streaming testimony on non-judicial foreclosures and more from Bill Hultman (MERS) by clicking here… Worth watching all the way through. ~ 4closureFraud.org Tweet
ReCONtrust | Utah Has Had Enough: BofA / CFC Foreclosures
The Market Ticker – Utah Has Had Enough: BofA / CFC Foreclosures It appears that Utah has had enough: ReconTrust Co. isn’t meeting requirements for carrying out foreclosures in the state, Utah Attorney General Mark Shurtleff said in a letter to Bank of America Chief Executive Officer Brian Moynihan. The letter, dated May 19, … Read more
Mish Is Again Off The Rails (Foreclosuregate)
The Market Ticker – Mish Is Again Off The Rails (Foreclosuregate) Sigh….. State attorneys general are not happy with a $5 billion offer by major banks to settle lawsuits regarding robo-foreclosures and other alleged grievances. Some officials want as much as $20 billion. The compromise threat is on the high end. He then goes … Read more
Hoorah for Hooker | Hooker v Bank of America, MERS – “The MERS system greatly increased the number of investors stuck with worthless notes.”
Hooker vs MERS / Bank of America Note: MERS is a defendant, not a plaintiff in this case. “While I recognize that plaintiffs have failed to make any payments on the note since September 2009, that failure does not permit defendants to violate Oregon law regulating non-judicial foreclosure. .. A party conducting a non-judicial foreclosure must demonstrate … Read more
SEC Adopts Rules to Establish Whistleblower Program
Washington, D.C., May 25, 2011 – The Securities and Exchange Commission today adopted rules to create a whistleblower program that rewards individuals who provide the agency with high-quality tips that lead to successful enforcement actions. Additional Materials Final Rule The new SEC whistleblower program, implemented under Section 922 of the Dodd-Frank Act, is primarily intended … Read more
KABOOM | Illinois Attorney General MADIGAN ISSUES SUBPOENAS Against Lender Processing Services (LPS) & Nationwide Title Clearing (NTC)
MADIGAN ISSUES SUBPOENAS; WIDENS ‘ROBOSIGNING’ PROBE Chicago — Attorney General Lisa Madigan today expanded her investigation into “robosigning” practices, issuing subpoenas against two national mortgage servicing support providers. The subpoenas are the latest effort in Madigan’s ongoing probe into the fraudulent practices used by banks and other mortgage institutions that contributed to the collapse of … Read more
Letter to AG Martha Coakley | Bristol County Board of Commissioners: MERS Cost Registries MILLIONS of Dollars
Bristol County Board of Commissioners: MERS Cost Registries MILLIONS of Dollars Taunton — The Bristol County Board of Commissioners sent a letter to Attorney General Martha Coakley on Tuesday concerning the “deceptive practices” of a mortgage process streamlining corporation, which it says cost county registries millions of dollars in the last decade. The commissioners say … Read more
LIAR! | Decorum Breaks Down at House Hearing (Video)
Elizabeth Warren Called a Liar On Tuesday, May 24th 2011, during a hearing in a House Oversight and Government Reform subcommittee, Chairman Patrick McHenry (NC-10) ended the hearing by calling Elizabeth Warren a liar. It was a messy and confusing ending for all watching. Warren had stated that the Chairman’s staff and her, after a … Read more
REVIEW | In HBO’s ‘Too Big to Fail,’ the Heroes Are Really Zeroes
In HBO’s ‘Too Big to Fail,’ the Heroes Are Really Zeroes HBO’s “Too Big To Fail”—I just caught up with it last night; thank you, HBO On Demand—is extraordinarily revealing about the financial crisis. Only its revelations are almost entirely inadvertent. The movie is set up in the Hollywood conventional way: A gang of misfits, … Read more
KABOOM | Attorney General Kamala D. Harris Subpoenas Lender Processing Services (LPS) in Wide-Ranging Probe of Mortgage and Fraudclosure Practices
State of California Department of Justice Press Release May 25, 2011 For Immediate Release Contact: (415) 703-5837 Print Version Attorney General Kamala D. Harris Subpoenas Loan Processor LPS in Wide-Ranging Probe of Mortgage and Foreclosure Practices LOS ANGELES – Attorney General Kamala D. Harris today announced she has subpoenaed Lender Processing Services, Inc. (LPS), as part … Read more
I’m Short Your LPS | $24.81 – Lender Processing Services Stock Hits New 52-Week Low
Lender Processing Services (NYSE:LPS) hit a new 52-week low Tuesday at $24.81, as it is currently trading at $25.34, below its previous 52-week high of $35 with 531,761 shares traded as of 10:41 a.m. ET. Average volume has been 973,900 shares over the past 30 days. Just breaks your heart, doesn’t it… NOT! ~ 4closureFraud.org … Read more
TransUnion Study – Life After Foreclosure | Mortgage-Only Defaulters are NOT Deadbeats
Life After Foreclosure Study: Mortgage-Only Defaulters Not as Risky as Expected — Says TransUnion Study Also Finds Persons Failing to Pay Mortgage May Not Have Had Excess Liquidity “There appears to be a pocket of opportunity among mortgage-only defaulters that is not the result of excess liquidity, but rather the unique circumstances of the recent … Read more
Road Trip | Clergy, Religious Leaders Call Out AG Bondi for Siding with Wall Street, Opposing Strong Foreclosure Fraud Settlement
On Thursday, May 26, over 50 clergy, faith leaders, and homeowners from 6 counties across Florida will travel to Tallahassee to hold a prayer vigil outside of Attorney General Pam Bondi’s office to urge her to stop siding with the Wall Street banks and drop her opposition to a strong settlement to the foreclosure fraud … Read more
