Fraudclosure | OCC Guidance on Potential Issues With Foreclosed Residential Properties
Subject: Foreclosed Properties Date: December 14, 2011 To: Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, and All Examining Personnel Description: Guidance on Potential Issues With Foreclosed Residential Properties Background In the current economic environment, national banks and federal savings associations (collectively, banks) are facing challenges resulting … Read more
Another Settlement Fail | FDIC Reaches $64 Million Settlement with 3 Former Washington Mutual Executives, Kinda…
The paltry settlement amount and the fact that the executives will likely be paying very little from their own pockets come at a time of public outcry over how federal agencies have handled the misdeeds of financial firms that led to the financial crisis. ~ FDIC reaches $64 million settlement with 3 former Washington Mutual … Read more
Matt Weidner | RE US Bank Verification of Foreclosure Complaint – Compliance with the Court’s Order Would Require the Petitioner to Perjure Itself
Complying With This Court’s Order Would Require The Plaintiff To Perjure Itself… That’s not my statement, that comes from a Plaintiff in an appeal that just came across my fax machine as I was walking out of the office today. The whole appeal is quite interesting, but the statement that really blew me completely out … Read more
Report: America’s Youngest Outcasts – Child Homelessness Up 33% in 3 Years
Report: Child homelessness up 33% in 3 years One in 45 children in the USA — 1.6 million children — were living on the street, in homeless shelters or motels, or doubled up with other families last year, according to the National Center on Family Homelessness. he numbers represent a 33% increase from 2007, when … Read more
Fraudclosure Settlement | Banks Demand The Consumer Financial Protection Bureau Relinquish Rights to Sue Over “Flawed” Mortgage Originations
Banks Press CFPB in Talks Banks are demanding that the Consumer Financial Protection Bureau relinquish the right to sue over certain flawed mortgage originations, in exchange for their participation in a proposed multibillion-dollar settlement of alleged foreclosure abuses. The banks say their inability to secure a sufficiently broad release from the new bureau, which was … Read more
Brooklyn Beatdown | Schack Attack – U.S. Bank N.A. v. Wayne Ramjit: ‘Conflicted Robosigner’ Equals No Foreclosure
‘Conflicted robosigner’ equals no foreclosure: NY state judge NEW YORK, Dec 13 (Reuters) – On Monday, a Brooklyn judge dismissed a mortgage-foreclosure case over a major New York firm’s failure to vouch for the veracity of its court filings amid questions over whether it used a “conflicted robosigner” to support its case. On July 28, … Read more
Texas | Rusk County Court Approves Legal Action Against Mortgage Electronic Registration Systems (MERS)
Rusk County court approves legal action against electronic mortgage registry HENDERSON — The Rusk County Commissioners Court approved a contract Monday with the Mann Law Firm for legal action against MERS, Mortgage Electronic Registration Systems. MERS is a privately held company that operates an electronic registry designed to track servicing rights and ownership of mortgage … Read more
MERS: A Twenty First Century Creation Navigating An Eighteenth Century Legal System
MERS: A Twenty First Century Creation Navigating An Eighteenth Century Legal System Introduction One need not be an expert in banking or real estate to have become acutely aware of the 2008 financial crisis and the housing bubble that largely precipitated it. High unemployment, low economic growth, and record government deficits are daily reminders of … Read more
Realtor Fail | Do I Get A Clear Title When I Buy A Foreclosure? Answer = “Yes” (NOT!) (VIDEO)
Q: Do I Get A Clear Title When I Buy A Foreclosure? A: Yes, once they put the property on the market, the bank has already cleared title. The bank has made sure that they paid all the liens, judgments and all that on the property and the previous loans. So you don’t need to … Read more
Raleigh Homeowner Sues Mortgage Companies for Stealing His House (VIDEO)
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Florida Default Law Group Files Foreclosure on 90-Year-Old Woman’s Reverse Mortgage for Code Violation
90-year-old woman facing foreclosure An elderly woman is facing foreclosure in the place she has called home for most of her life. Ninety-year-old Rosalee Green has lived in her Southwest Miami-Dade residence about 57 years, the majority of her life. However, the nonagenarian may be evicted from her home due to a code violation. “I’ve … Read more
FL 4th DCA Fraudclosure Reversed | McLEAN vs JP MORGAN CHASE BANK – The record lacked any evidence that Chase had standing to foreclose at the time the lawsuit was filed
DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FOURTH DISTRICT July Term 2011 ROBERT McLEAN, Appellant, v. JP MORGAN CHASE BANK NATIONAL ASSOCIATION, not individually but solely as Trustee for the holders of STRUCTURED ASSET MORTGAGE INVESTMENTS II, INC., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-ARS, Appellee. No. 4D10-3429 [ December 14, 2011 ] PER CURIAM. … Read more
William Black | Why Elite Frauds Cause Recurrent, Intensifying Economic, Political and Moral Crises
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MF Global for Dummies (i.e., Congress)
“This may be the first time in modern history that customer funds sitting in a supposedly safe bank escrow accounts were stolen by a third party right under the noses of government regulators.“ ~ MF Global for Dummies (i.e., Congress) So, here goes, here is how you can explain the MF Global story to your … Read more
Dylan Ratigan | Exposing the inner workings of Wall Street
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Julie L. Williams | OCC Chief Counsel Testifies on Efforts to Correct Foreclosure Deficiencies
OCC Chief Counsel Testifies on Efforts to Correct Foreclosure Deficiencies WASHINGTON — The Office of the Comptroller of the Currency’s Chief Counsel Julie L. Williams provided an update on efforts to correct unsafe and unsound mortgage servicing and foreclosure practices during her testimony today before the Subcommittee on Housing, Transportation, and Community Development of the … Read more
