Florida Fraudclosure Fighter Matt Gardi Files for Clerk of Court
Florida Fraudclosure Fighter Matt Gardi Files for Clerk of Court Florida Keys fraudclosure fighter, Matt Gardi, a long time local columnist in the Keys who has been writing extensively about the fraudclosure crisis has thrown his hat in the ring for Monroe County Clerk of Courts. Gardi, who has written columns for Key West the … Read more
HSBC Bank USA, N.A. v Sene | Two Seperate Notes – “A fraud has been committed upon this Court”
HSBC Bank USA, N.A. as Trustee of behalf of ACE Securities Corp. Home Equity Loan Trust And for the Registered Holders of Ace Securities Corp. Home Equity Loan Trust, Series 2007-HE4, Asset Backed Pass-Through Certificates, Plaintiff, against Marie Sene, et al, Defendants. 18600/09 Plaintiff was represented by Alissa L. Wilson, Esq., Shapiro, DiCaro & … Read more
Federal Reserve Board releases action plans for three supervised financial institutions to correct deficiencies in residential mortgage loan servicing and foreclosure processing
The Federal Reserve also released the engagement letter between HSBC and the independent consultant HSBC retained to review foreclosures Release Date: March 8, 2012 For immediate release The Federal Reserve Board on Thursday released action plans for three supervised financial institutions to correct deficiencies in residential mortgage loan servicing and foreclosure processing. The three institutions … Read more
Wells Fargo LOSES at Seventh Circuit Appellate – Excoriating opinion regarding a HAMP Class Action. AND a Judicial Request for a Federal Amicus Curiae
In the United States Court of Appeals For the Seventh Circuit No. 11-1423 LORI WIGOD, Plaintiff-Appellant, v. WELLS FARGO BANK, N.A., Defendant-Appellee. Appeal from the United States District Court for the Northern District of Illinois, Eastern Division. No. 1:10-cv-02348—Blanche M. Manning, Judge. ARGUED OCTOBER 26, 2011—DECIDED MARCH 7, 2012 <excerpts> HAMILTON, Circuit Judge. We are … Read more
The American Dream | 35 Shocking Statistics That Prove That Things Have Gotten Worse In America
35 Shocking Statistics That Prove That Things Have Gotten Worse In Americ #14 About twice as many new homes were sold in the United States in 1965 as are being sold today. #15 Home prices in the 4th quarter of 2011 were four percent lower than they were during the 4th quarter of 2010. Overall, … Read more
WSJ | ‘Forced’ Home Insurance Policies Face New Scrutiny
‘Forced’ Home Insurance Policies Face New Scrutiny Home buyers take out homeowners’ insurance policies to protect the value of their home and personal property in the event of a burglary or a natural disaster. The insurance is typically required to get a home loan, and if borrowers fall into default, banks have the right to … Read more
UNSEALED COMPLAINT | United States of America v. Bank of America NA – Whistleblower Says BofA Defrauded HAMP
Whistleblower Says BofA Defrauded HAMP (Reuters) – Bank of America NA prevented homeowners from receiving mortgage-loan modifications under a federal program in order to avoid millions of dollars in losses while benefitting from financial incentives for participating in the program, according to a complaint unsealed in federal court Wednesday. The complaint unsealed Wednesday was filed … Read more
Fed Economists: Yes, TARP may have increased moral hazard, by the banks
Fed economists: Yes, TARP may have increased moral hazard Two Federal Reserve researchers have confirmed what many have long suspected: big banks that were bailed out by the government took on greater risk without increasing lending to businesses. In other words, after they were stabilized by an injection of government funds, the specific loans made … Read more
Board of Governors of the Federal Reserve System | Moral Hazard – The Effect of TARP on Bank Risk-Taking
Board of Governors of the Federal Reserve System International Finance Discussion IFDP 1043 March 2012 The Effect of TARP on Bank Risk-Taking Lamont Black and Lieu Hazelwood ABSTRACT: One of the largest responses of the U.S. government to the recent financial crisis was the Troubled Asset Relief Program (TARP). TARP was originally intended to stabilize … Read more
NPR | Did The Fed Help Banks While Ignoring The Risks? (AUDIO)
The head of the FDIC warned the Fed that banks were not able to “withstand stress in an uncertain economic environment,” just as the Fed was looking at whether banks could pay dividends to their shareholders, Eisinger says. Even though banks passed the Fed’s “stress test,” Eisinger tells Fresh Air‘s Terry Gross, many regulators and … Read more
