Bloomberg | Bank of America Said to Offer MBIA Settlement in Defective-Mortgage Suit

Bank of America Said to Offer MBIA Settlement Pennies on the Dollar in Defective-Mortgage Suit Bank of America Corp. (BAC), the biggest U.S. bank, has made a preliminary offer to bond insurer MBIA Inc. (MBI) aimed at settling a legal dispute tied to defective mortgages, according to two people briefed on the discussions. The two … Read more

Strategic Default? | JPMorgan Files Foreclosure on R. Kelly After Attempted Modification

First, from Business Insider… R. Kelly Hasn’t Made Payments On His Multimillion Dollar Mansion In Over A Year R. Kelly is an incredible R&B Grammy award-winning artist known for everything from “I Believe I Can Fly,” which was featured in the hit movie Space Jam, to ”Ignition (Remix).” However, as he faces foreclosure on his … Read more

John O’Brien Registry of Deeds vs Robosigners

Registrar vs. robosigners The head of the Registry of Deeds in Salem is challenging lenders’ handling of mortgage records; some say he’s overstepping his authority A county registrar doesn’t usually take on major US lenders, send out rapid fire press releases, and investigate the home loans of celebrities such as Sarah Palin. But John O’Brien … Read more

Fraudclosure | JPMorgan Chase Profit Jumps Despite Continued Mortgage Woes

“I would do anything to get it done today,” Jamie Dimon, JPMorgan’s chief executive, said of the settlement talks on a conference call Thursday. “Honestly, I would get in an airplane, fly down there, and get it done today if I could,” he said of the talks on another conference call. “It would be good … Read more

New Jersey | Denbeaux TILA Defense Deutsche Bank vs. Dominguez and Status of BOA v. LImato

TILA Defense Deutsche Bank vs. Dominguez and Status of BOA v. LImato Here is a new direction that Joshua Denbeaux is successful with as of late. {PR} New defense strategy based on review of original documents and TILA. Deutsche Bank National Trust Company vs. Miguel Dominguez et al., Docket No F-01322-10 Order denying Plaintiff’s Summary … Read more

New York Investigating BofA’s $8.5 Billion Mortgage-Securitization Accord

New York Investigating BofA’s $8.5 Billion Mortgage-Securitization Accord Bank of America Corp. (BAC)’s proposed $8.5 billion settlement over mortgage-securitization trusts is being probed by New York Attorney General Eric Schneiderman, who is seeking client information from more than 20 companies. Schneiderman’s office sent letters dated July 7 to the companies, including Goldman Sachs Group Inc. … Read more

Brad Miller Letter to Federal Housing Finance Agency Acting Director Ed DeMarco RE BofA $8.5 Billion Settlement

Federal Housing Finance Agency 1700 G St NW Washington, DC 20552 July 8, 2011 Acting Director DeMarco, I am writing concerning the proposed settlement of claims against Bank of America for breach of the contractual representations and warranties, or “put back” claims, for residential mortgage-backed securities (“RMBS”) issued by subsidiaries of Countrywide Financial Corporation, which … Read more

Fraudclosure | Large US Banks Submit Plans To “Fix” Foreclosure Operations

“The OCC will now review the banks’ action plans, which will remain confidential” ~ Large US Banks Submit Plans To Fix Foreclosure Operations WASHINGTON -(Dow Jones)- The largest U.S. banks have submitted plans to fix their troubled mortgage-servicing operations, responding to orders issued in April, a bank regulator said Wednesday. The Office of the Comptroller … Read more