Bribery | As Housing Crisis Festers, Mortgage Servicers Spend $8 Million on Political Contributions

  As housing crisis festers, mortgage servicers spend $8 million on political contributions As the financial markets roil, one of the critical factors weighing down the U.S. economy is the flood of home foreclosures. Thursday’s crash underscores how difficult it will be for the economy to make significant strides while the housing market is still … Read more

Matt Gardi | Ron Saunders Endorses Department of Justice Investigation of Attorney General Pam Bondi (with the Ferocity of a Common House Gecko)

From the man who brought us Bankster v. Deadbeat… And his five part series on Untangling the Foreclosure Mystery… He now delivers this from Key West the Newspaper… Ron Saunders Endorses Department of Justice Investigation of Attorney General Pam Bondi (with the Ferocity of a Common House Gecko) Small Excerpt; “Ultimately though, while supporting Soto’s … Read more

New York AG Schneiderman Comes out Swinging at BofA, BoNY

New York AG Schneiderman Comes out Swinging at BofA, BoNY This is big.  Though we’ve seen leading indicators over the last few weeks that New York Attorney General Eric Schneiderman might get involved in the proposed Bank of America settlement over Countrywide bonds, few expected a response that might dynamite the entire deal.  But that’s … Read more

Fraudclosure | Beau Biden, Delaware AG, Moves To Join Bank Of America Mortgage Deal, Signaling Concerns

Beau Biden, Delaware AG, Moves To Join Bank Of America Mortgage Deal, Signaling Concerns WASHINGTON — Delaware Attorney General Beau Biden signaled his intent Friday to intervene in a proposed $8.5 billion settlement over troubled mortgage securities between Bank of America and a group of investors, uniting with his New York counterpart Eric Schneiderman, who … Read more

Fight Eviction | SJC Expands Right to Challenge Bank Seizures

SJC expands right to challenge bank seizures The state’s highest court has ruled that people fighting eviction from homes they lost to foreclosure can challenge the validity of a property seizure in housing court after the fact, a decision that housing rights advocates are calling a major victory. The Massachusetts Supreme Judicial Court’s unanimous ruling, … Read more

HUD Settlement | Bank of America Fined $175 for Failure to Offer Alternatives to Foreclosure

B of A Signs HUD Pact Over Mortgage Abuse The Department of Housing and Urban Development has reached a settlement with Bank of America that releases the company from liability for failing to adequately provide alternatives to foreclosure on 57,000 delinquent government-insured mortgages. The agreement, a draft of which was obtained by American Banker, was … Read more

Citigroup Said to Get California Subpoena Over Mortgage Deals

Citigroup Said to Get California Subpoena Over Mortgage Deals Aug. 5 (Bloomberg) — Citigroup Inc., the third-biggest U.S. bank, was subpoenaed by the California Attorney General’s Office over mortgage securitization, a person familiar with the matter said. Attorney General Kamala Harris, who is investigating mortgage fraud, is seeking information from the New York-based bank on … Read more

New York Attorney General Accuses Bank Of New York Mellon Of Fraud, Moves To Block Bank Of America’s Mortgage Deal

New York Attorney General Accuses Bank Of New York Mellon Of Fraud, Moves To Block Bank Of America’s Mortgage Deal WASHINGTON — New York Attorney General Eric Schneiderman asked a state judge to reject a proposed $8.5 billion settlement agreement over soured loans between Bank of America and a group of investors, claiming in court … Read more