Experienced Robosigners Wanted | JPMorgan, BofA Strain for Qualified Staff to Clear Foreclosures
JPMorgan, BofA Strain for Qualified Staff to Clear Foreclosures JPMorgan Chase & Co. and Bank of America Corp. told regulators they were straining last year to hire and keep enough qualified people who could clear a backlog of foreclosure complaints. JPMorgan, the largest U.S. bank by assets, vowed to expand training after its review found … Read more
Damnit Tickerguy is Right Again (Banks Rip Us Off Again)
The Market Ticker – Damnit Tickerguy is Right Again (Banks Rip Us Off Again) I have to be wrong eventually with one of these calls, you know… So if you’re a bank, told to write down $5 billion worth of mortgages (your “share” of the total) and given discretion as to which ones you write … Read more
This Should Stop Them | FBI Announces Public Service Announcement by Gordon Gekko on Securities Fraud and Insider Trading
FBI Announces Public Service Announcement by Michael Douglas on Securities Fraud and Insider Trading This morning the FBI announced a new public service announcement featuring Michael Douglas, soliciting tips and information on securities fraud and insider trading. This is part of the continued push—and focus on a top FBI priority—to root out criminal behavior in … Read more
Abigail Field | Dear State Attorneys General: You Failed America. Yes, You.
Dear State Attorneys General: You Failed America. Yes, You. By Abigail Caplovitz Field Update: My original headline said “Sold Out” where it now says failed. I think it’s more accurate. Dear State Attorneys General: Rumor has it that this week we will learn precisely how you failed us all regarding the criminal enterprise that is … Read more
SB 1890 | Bill to Streamline Foreclosures Moves One Step Closer to Florida Law
Bill to streamline foreclosures moves one step closer to Florida law For the first time since the real estate crash crippled Florida’s economy and battered struggling homeowners, a bill to hasten foreclosures through the courts is headed to the full House and Senate. A narrow 6-4 vote Monday in a specially scheduled meeting of the … Read more
“The court will hear those meritorious defenses, but unfortunately it’s not a meritorious defense to say, ‘I just don’t want to pay,’ ” Passidomo said.
“It’s not the bank’s fault or the lender’s fault, if you will,” Richter said. “It’s not the lender’s fault when someone loses their job. The mortgage document basically says I promise to pay, it doesn’t say I promise to pay if I’m employed.” ~ Foreclosure bill narrowly passes last committee despite some Republican hesitation TALLAHASSEE … Read more
Federal Reserve Releases Action Plans/Engagement Letters Per Consent Orders
Federal Reserve releases action plans/engagement letters per consent orders For immediate release The Federal Reserve Board on Monday released action plans for supervised financial institutions to correct deficiencies in residential mortgage loan servicing and foreclosure processing. It also released engagement letters between supervised financial institutions and independent consultants retained by the firms to review foreclosures … Read more
The Pino Appeal And The Title Industry – Will The Supreme Court Take The Red Pill or The Blue Pill?
RED PILL/BLUE PILL SCENE (Play this first) ~ The Pino Appeal And The Title Industry – Will The Supreme Court Take The Red Pill or The Blue Pill? Author: Matthew D. Weidner, Esq. As I read through the brief submitted by the title industry in the Pino appeal, now pending before the Florida Supreme Court, … Read more
What Do Republican Presidential Candidates Say on Foreclosure Crisis? Not Much.
What Do Republican Presidential Candidates Say on Foreclosure Crisis? Not Much. by Lois Beckett ProPublica Answers to homeowners’ questions about the Independent Foreclosure Review.The administration’s website for the foreclosure prevention program. Provides an FAQ, homeowner examples, and other tools to see whether you might qualify for the program.A list of HUD-approved housing counseling agencies nationwide.Tips … Read more
ROFL! Buffett Calls Banks “Victims” of Evicted Homeowners
The Market Ticker – ROFL! Buffett Calls Banks “Victims” Now this is one of those moments…. “Large numbers of people who have ‘lost’ their house through foreclosure have actually realized a profit because they carried out refinancings earlier that gave them cash in excess of their cost,” Buffett, chairman and chief executive officer of Berkshire … Read more
Kamala Harris Wants Fannie Mae, Freddie Mac to ‘Pause’ Foreclosures
Harris Wants Fannie Mae, Freddie Mac to ‘Pause’ Foreclosures The two companies own more than 60 percent of California mortgages Attorney General Kamala Harris wants Fannie Mae and Freddie Mac to place “a good faith pause on foreclosure sales in California” until the federal government completes “a thorough, transparent analysis” of the possibility of writing … Read more
Matt Weidner | Amerika, Why Can’t We Jail Bankers?
Amerika, Why Can’t We Jail Bankers? We’re coming up on four years since the financial crisis of 2008 nearly took this nation over the edge. But just as the jalopy called our nation’s financial system started to fly off into the abyss, the banker elites and their hand-picked handmaidens at all levels of government stepped … Read more
Abigail Field | Insider Says Promontory’s OCC Foreclosure Reviews for Wells are Frauds. Brought to You by HUD Sec. Donovan By Abigail Field, a freelance writer and attorney who blogs at Reality Check
Abigail Field: Insider Says Promontory’s OCC Foreclosure Reviews for Wells are Frauds. Brought to You by HUD Sec. Donovan By Abigail Field, a freelance writer and attorney who blogs at Reality Check U.S. Housing Secretary Shaun Donovan has embarrassed himself yet again. This time, though, he’s gone in for total humiliation. See, he praised the … Read more
Lee Camp on the Settlement | Oh My Gawd! Fun With Big Bank Fraud!
Explicit Language So Viewer Discretion Advised Recently the states agreed to a deal with attorney general to settle with the big banks for $25 billion. So millions of homeowners had their homes stolen, but they get a whopping $2,000 in return! Talk about a sweet deal… [LeeCamp.net] ~ 4closureFraud.org Tweet
Mandelman | Insider Says Wells Fargo’s Independent Foreclosure Review for OCC is “a Sham”
I got an email the other night from one of my readers. It said… “I was hired as one of those “Independent File Review Specialist” at a company called Promontory working on Wells Fargo Bank. I have 15 years industry experience in all facets of the mortgage & title industry, and just needed a … Read more
Foreclosure Settlement a Failure of Law, a Triumph for Bank Attorneys
The Robosigning Deal is a Useless Embarrassment By Barry Ritholtz, Published: February 25 After many months of wrangling, a foreclosure settlement has been reached between 49 state attorneys general and a consortium of banks. It is an epic failure of law and a triumph for bank attorneys. It will accomplish little of value, as I’ll … Read more
Last Chance to Stop SB 1890 The Florida (UN)Fair Foreclosure Bill Before the Final Vote
Last Chance to Stop the (UN)Fair Foreclosure Bill Before the Final Vote The Senate version of the (UN)Fair Foreclosure Bill, CS/SB 1890, goes to the very bank-friendly Senate Banking and Insurance Committee on Monday 2/27 at 4:45pm. This is the last stop before the full vote. The bill will shift the burden of proof from … Read more
Analysis of Sen. Hayes’s and Sen. Richter’s Amendments to CS/SB 1890
Analysis of Sen. Hayes’s and Sen. Richter’s Amendments to CS/SB 1890 Currently there are competing amendments to CS/SB 1890. They are identical in all respects, except Sen. Richter’s amendment would add Finality of Judgment. Below is an analysis encompassing both versions. Both amendments to CS/SB 1890 streamline the foreclosure process. Issues remain as to both … Read more
Re: SB1890, Banking and Insurance Committee Meeting on Monday, February 27, 2012
Re: SB1890, Banking and Insurance Committee meeting on Monday, February 27, 2012 The text below and the attached documents have been sent to each member of the Senate in advance of the Banking and Insurance Committee meeting on Monday, February 27 at 4:45pm. A separate and more detailed email has been forwarded to Senate President … Read more
Analysis of SB 1890 Florida’s Foreclosure Act from Henry Trawick – IT’S SPOT ON FANTASTIC!
Henry Trawick Trawick is in private practice in Sarasota, Fla. He has been an attorney for more than 50 years and specializes in litigation and probate matters. His respected treatises cover Florida practice and procedure and the law of wills and estates. Trawick’s books are widely used by Florida lawyers and judges, and over the … Read more
