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