First American Title Insurance and Fidelity National Title Stop Insuring the Sale of Foreclosed Properties in Washington DC

At issue is one sentence in the council’s legislation: “Each foreclosure sale in violation of this act shall be void.” ~ District effort to help distressed homeowners could halt foreclosure sales A District effort to help distressed homeowners threatens to bring a halt to the sale of foreclosed properties in the city, depress home prices … Read more

Wells Fargo to Pay $125 Million to Settle Billion Mortgage-Backed Securities Fraud Case

Blah, blah, blah… Pennies on the dollar… I feel sooo much better now, don’t you? ~ Wells Fargo to Pay $125 Million to Settle Mortgage-Backed Securities Case Wells Fargo & Co. (WFC) agreed to pay $125 million to settle accusations by investors that the bank misled them about the risks of mortgage-backed securities it sold. … Read more

Alabama AG Luther Strange to Congress “So far in Alabama I don’t know of anybody that’s been foreclosed on that shouldn’t have been”

Alabama AG Strange voices concerns about scope of mortgage foreclosure deal WASHINGTON — Alabama’s top prosecutor told Congress on Thursday that mortgage servicers who broke the law in dealing with homeowners should be punished, but he also cautioned against additional regulations that could slow down a recovery in the housing market. Attorney General Luther Strange, … Read more

George Mantor | Fraud on the Court… It’s So Easy a Caveman Could Do It

Fraud on the Court… It’s So Easy a Caveman Could Do It For all of those blow-hard pontificators out there who think everyone in foreclosure deserves to be evicted, I have this to say, “Fuck you!” And I mean that in the nicest possible way. I rarely waste my time on these people because their … Read more

HSBC Bank USA, N.A. v Taher | Judge Schack hits HSBC for ‘frivolous motion’ in foreclosure

Supreme Court Justice Schack hits HSBC for ‘frivolous motion’ in foreclosure, asks boss to explain A Brooklyn judge has ordered the head of one of the nation’s biggest banks to appear in court and explain why it should not be penalized for submitting false documents in a foreclosure case. In a scathing decision issued Friday, … Read more

Connecticut | Sen. Richard Blumenthal Announces Probe of Mortgage Servicers

Blumenthal Announces Senate Probe of Mortgage Servicers Sen. Richard Blumenthal said Monday the Senate Judiary Committee will investigate alleged abuses by mortgage servicers, including improper loan modification agreements and shoddy foreclosure procedures, which may have resulted in improper home seizures. Outrageous homeowner fees and inept tracking procedures by mortgage servicers have contributed to a rising … Read more

NY Times | As Wall St. Polices Itself, Prosecutors Use Softer Approach

In Shift, Prosecutors Are Lenient as Companies Break the Law As the financial storm brewed in the summer of 2008 and institutions feared for their survival, a bit of good news bubbled through large banks and the law firms that defend them. Federal prosecutors officially adopted new guidelines about charging corporations with crimes — a … Read more

NT Times | Sheila Bair’s Exit Interview – Bair’s Bank Shot

“They would bring me in after they’d made their decision on what needed to be done, and without giving me any information they would say, ‘You have to do this or the system will go down.’ If I heard that once, I heard it a thousand times.” ~ Sheila Bair’s Bank Shot ‘They should have … Read more