Southern Essex Registry of Deeds Audit Reveals That 75% of Assignments of Mortgage Are Invalid; O’Brien Says Banks Responsible for an Epidemic of Fraud

NEWS FOR IMMEDIATE RELEASE Salem, MA June 29th, 2011 Contact: Kevin Harvey, 1st Assistant Register 978-542-1724 kevin.harvey@sec.state.ma.us Marie McDonnell, President, McDonnell Property Analytics, Inc. 508-694-6866 marie@mcdonnellanalytics.com Southern Essex Registry of Deeds Audit Reveals That 75% of Assignments of Mortgage Are Invalid; O’Brien Says Banks Responsible for an Epidemic of Fraud.  Once again urges Attorney’s General … Read more

OCC Issues Guidance Regarding Foreclosures By Banks | Servicers “Must ensure compliance with foreclosure laws”

Subject: Foreclosure Management Date: June 30, 2011 To: Chief Executive Officers of All National Banks, Department and Division Heads, and All Examining Personnel Description: Supervisory Guidance Purpose The Office of the Comptroller of the Currency (OCC) is issuing guidance to communicate the OCC’s expectations for the oversight and management of mortgage foreclosure activities by national … Read more

FREDDIE and FANNIE Loans are Clearly COMPROMISED, Many Likely Sold MULTIPLE Times

Fannie Mae Silence on Taylor Bean Mortgages Opened Way to $3 Billion Fraud Some excerpts from the report… The first sign of what would ultimately become a $3 billion fraud surfaced Jan. 11, 2000, when Fannie Mae executive Samuel Smith discovered Taylor, Bean & Whitaker Mortgage Corp. sold him a loan owned by someone else. Fannie … Read more

KABOOM | Oregon Judge Voids Foreclosure Sale, Casting Doubt on Others

Oregon judge voids foreclosure sale, casting doubt on others A Columbia County judge has blocked U.S. Bank from evicting a Vernonia woman whose home it purchased in foreclosure, concluding in a case with far-reaching implications that her lenders had not properly recorded mortgage documents. Last week’s action appears to be the first in which an … Read more