Report | Evaluation of FHFA’s Role in Negotiating Fannie Mae’s and Freddie Mac’s Responsibilities in Treasury’s Making Home Affordable Program

Evaluation of FHFA’s Role in Negotiating Fannie Mae’s and Freddie Mac’s Responsibilities in Treasury’s Making Home Affordable Program Why FHFA-OIG Did This Evaluation In early 2009, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively the Enterprises) began participating in the Department of the Treasury’s (Treasury’s) Making … Read more

Matt Weidner | First They Came For the Jews… And I Did Not Speak Because I was not a Jew

   “First they came for the Socialists, and I did not speak out — because I was not a Socialist. Then they came for the Trade Unionists, and I did not speak out — because I was not a Trade Unionist. Then they came for the Jews, and I did not speak out — because … Read more

Registers of Deeds, Andrea F. Nuciforo Jr. Says Southern and Northern District Registries Owed a Collective $775,000 in MERS Fees

Registers of deeds usually remain out of the political spotlight, unless up for re-election, but Nuciforo believes he and his colleagues must prevent MERS alleged deceptive practices. “I have an obligation to make sure our [registry’s] documents are an accurate reflection of who owns the mortgage to a property,” he said. ~ Mortgage business ‘stiffing’ … Read more

Must View Video | The Black Swan is on the Wing – The Bankers are the Problem

The Black Swan is on the Wing Monday is here but I am six hours ahead of the US and it is morning here, so there’s no news to speak of yet. There will be. This is a little dated, by about a week, Max Keiser nails the situation; a little mellower than he has … Read more

David J. Stern Insurer, Admiral Insurance Company Files Lawsuit, Says it doesn’t Cover Claims Involving “Fraud”

Stern insurer wants out of policy, says it doesn’t cover claims involving “fraud” by Kim Miller An insurer for former foreclosure giant David J. Stern wants out of its policy, saying in a lawsuit that the company doesn’t cover “claims based upon, arising out of, directly or indirectly resulting from or in consequence of, or … Read more

David Dayen | Bank of America Uses Attack Dog, Kathryn Wylde, to Smear NY AG Schneiderman

Bank of America Uses Attack Dog to Smear NY AG Schneiderman So having figured out that the Feds cannot come riding to the rescue with another back-door bailout, Bank of America has settled on Plan B. They’ve decided to smear the AGs who are doing their job. And they’re doing it in a very roundabout … Read more

BIG WIN IN GA | Morgan v Ocwen, MERS – ONLY A “SECURED CREDITOR” May Conduct A Non-Judicial Foreclosure In Georgia

IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF GEORGIA ATLANTA DIVISION MICHAEL L. MORGAN, Plaintiff, v. OCWEN LOAN SERVICING, LLC, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., and MERSCORP, INC. Defendants. ~ Wrongful Foreclosure Although the separation of the note and the security deed does not render either instrument void, it does create a … Read more

The Validity of MERS | Letter to Attorney General Martha Coakley from REBA’s President, Edward M. Bloom, RE John O’Brien and MERS

“MERS operated smoothly and without debate for most of the first decade of its existence. The numerous issues such as predatory lending, robo-signing, and poor record keeping should not impact the validity of the MERS System, which has been a benefit to both the title professional and consumers.” – Edward M. Bloom, Esq. REBA President ~ … Read more