You’re Fired | JPMorgan Ousts Mortgage Chief David Lowman after Illegally Foreclosing on Military Members

JPMorgan Ousts Mortgage Chief Lowman JPMorgan Chase & Co. (JPM), the second- largest U.S. bank, ousted mortgage chief David Lowman after it overcharged active-duty military personnel on loans and improperly foreclosed on other borrowers. “Dave Lowman and I have decided he will leave the firm,” Frank Bisignano, the head of home-lending, said today in an … Read more

Utah | Layton Mayor Steve Curtis Knows Firsthand About Wrongful Foreclosures

“I have seen where situations like mine have ended marriages or causes suicides,’’ Curtis says. “There is a stigma to foreclosures, and I understand that. But there needs to be more public awareness of how common this is.’’ ~ Layton Mayor Steve Curtis Knows Firsthand About Wrongful Foreclosures Layton • Mayor Steve Curtis came home … Read more

Fraudclosure | Michigan Attorney General Subpoenas (CRIMINAL) Lender Processing Services, Fidelity National Financial Inc. (FNF) and CT Corporation System in Probe

Michigan Attorney General Subpoenas Three Mortgage Processors in Probe The Michigan attorney general’s office subpoenaed three mortgage processors including Lender Processing Services as part of a state probe of robo-signing. Michigan Attorney General Bill Schuette said his office served Lender Processing, Fidelity National Financial Inc. (FNF) and CT Corporation System with investigative subpoenas as affiliates … Read more

Lender Processing Services (LPS) Names Former Florida Deputy Attorney General Joe Jacquot to Handle Government Affairs

LPS names Joe Jacquot to handle government affairs (Reuters) – Mortgage processing services provider Lender Processing Services Inc named former Florida Deputy Attorney General Joe Jacquot as its senior vice-president for government affairs. Jacquot, who served as Florida’s deputy attorney general for the last 5 years, will be responsible for analyzing and responding to pending … Read more

OCC Extends Deadline for Action Plans Under Foreclosure Practices Consent Order

Deadline Extended for Action Plans under Foreclosure Practices Consent Order WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced it had extended the timelines for submission of plans, programs, policies, and procedures and foreclosure review engagement letters required by consent orders issued on April 13 against eight large national bank residential … Read more

Ingham County May Spend $60,000 for Foreclosure Fraud Victims

  Ingham County may spend $60,000 for foreclosure fraud victims First it was mortgage documents signed by people who weren’t really bank officials using names that, in most cases, weren’t their own. Then it was foreclosures initiated by a company called Mortgage Electronic Registration Systems Inc., which didn’t actually own the debt on the homes … Read more

Dodd-Frank Delays Bring ‘Temporary Relief’ for Banks

Dodd-Frank Delays Bring ‘Temporary Relief’ for Banks by Marian Wang ProPublica There are yet more delays in implementing financial reform. The Commodity Futures Trading Commission has said it needs extra time to write a set of derivatives rules required by Dodd-Frank, and others that were scheduled to go into effect automatically next month may be deferred until … Read more

Fannie Mae Offers Bonus to Realtors to Drive Sales of its Foreclosed Homes

Fannie Mae offers bonus to Realtors to drive sales of its foreclosed homes Federal mortgage backer Fannie Mae hopes to energize sales of its repossessed homes with a new $1,200 bonus to Realtors and an extension of closing cost help to homebuyers. Tuesday’s announcement came as a June 30 deadline approached for homebuyers to earn … Read more