Fedspeak White Paper | The U.S. Housing Market: Current Conditions and Policy Considerations
The U.S. Housing Market: Current Conditions and Policy Considerations The ongoing problems in the U.S. housing market continue to impede the economic recovery. House prices have fallen an average of about 33 percent from their 2006 peak, resulting in about $7 trillion in household wealth losses and an associated ratcheting down of aggregate consumption. At … Read more
White Paper | In or Out of Mortgage Trouble? A Study of Bankrupt Homeowners
In or Out of Mortgage Trouble? A Study of Bankrupt Homeowners INTRODUCTION For decades, homeowners have populated the bankruptcy system in significant numbers. Today’s prevalent narrative features a delinquent mortgage, and a race against time to enlist the bankruptcy system in the fight to keep the family home. Yet, many bankrupt homeowners do not see … Read more
Bear Stearns Asset Backed Securities Trust 2005-4 v. EMC Mortgage Corp | JPMorgan Sued for $95 Million Over Mortgage Securities
JPMorgan Sued for $95 Million Over Mortgage Securities (Reuters) – JPMorgan Chase & Co has been sued for $95 million by the trustee for securities marketed in 2005 by the former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans. US Bank NA wants to force JPMorgan to buy back the mortgage loans … Read more
Fraudclosure | OCC Releases Public Service Ads About the “Independent” Foreclosure Review
OCC Releases Public Service Ads About the Independent Foreclosure Review WASHINGTON — The Office of the Comptroller of the Currency today released print and radio public service advertisements to increase awareness of the Independent Foreclosure Review, announced in November 2011. The public service items include a feature story, distributed to 7,000 small newspapers throughout the … Read more
Obama Defies Republicans, Plans to Bypass Congress and Install Richard Cordray as Head of the Consumer Financial Protection Bureau (CFPB)
Obama defies Republicans with consumer agency pick (Reuters) – President Barack Obama plans to bypass Congress and install Richard Cordray as head of the country’s new consumer financial watchdog, picking an election-year fight with Republicans who have blocked the nominee. The move to use a recess appointment, announced by the White House on Wednesday, is … Read more
MBIA Insurance Corp. v. Countrywide Home Loans Inc | BofA Loses Ruling Against MBIA in Fight Over Loans
BofA Loses Ruling Against MBIA in Fight Over Loans Bank of America Corp. (BAC) lost a ruling in a court fight against MBIA Inc. (MBI) that will help the bond insurer as it tries to recover losses on home loans made by the bank’s Countrywide Financial unit. MBIA, which says it was duped into guaranteeing … Read more
Another Citizen Warriors Victory! | Miss Angela Samuels Eviction Victory Announcement Miami Liberty City Jan 2012 (VIDEO)
Occupiers Protest Eviction of Miami Woman Longtime resident allowed to stay temporarily… A Miami woman on the verge of being thrown out of her family’s longtime home received much-needed support from Occupy Miami Tuesday, when protestors showed up to fight her eviction notice. At the end of the day, however, it was her nephew who … Read more
Fraud Digest | Mortgage Fraud – ProVest, PTA, Law Offices of David J. Stern
Mortgage Fraud Law Offices of David J. Stern ProVest PTA Action Date: January 4, 2012 Location: FT. Lauderdale, FL In the lawsuit filed by DJSP Enterprises against David J. Stern and the Law Offices of David J. Stern, there are also allegations involving ProVest, the process server used by Stern and most of the other … Read more
In re: DANIEL JOSEPH SUTTER | Bankers are tagged by court with “unclean hands” and mortgage is adjudicated “void ab initio”
Financially challenged homeowners refi a loan in Michigan; but sign while on vacation in California. You’ll have to really read the whole case. Bank Rep in California inadvertently DOES NOT get their signature on the mortgage. They DEFAULT and when the inevitable foreclosure ensues, they file Chapter 13. Bank files a proof of claim WITH … Read more
DJSP ENTERPRISES, INC. 8K Filing | Complaint – DJSP ENTERPRISES vs DAVID J. STERN
Mortgage Fraud DJSP Enterprises Law Offices of David J. Stern Action Date: January 4, 2012 Location: FT. Lauderdale, FL DJSP Enterprises, the publicly-traded company that was supposed to make millions for investors from the foreclosure services it provided to The Law Offices of David Stern (“the Stern Firm”), sued David J. Stern and the Law … Read more
