$95 MILLION SETTLEMENT WITH THE NATION’S FIVE LARGEST MORTGAGE SERVICERS PARTIALLY RESOLVES SOUTH CAROLINA FALSE CLAIMS ACT LAWSUIT
According to the settlement documents, the banks are also paying tens of millions of dollars to resolve whistleblower lawsuits alleging lenders defrauded the government in seeking federal mortgage insurance for some risky loans. The banks are paying $95 million, for example, to settle a case brought by Lynn Szymoniak, a homeowner who was featured on … Read more
David Dayen | Foreclosure Fraud Settlement Docs Finally Released (DETAILS)
“You might ask why any industry with this kind of performance record would be allowed to stay in business. It would be a good question.” ~ Foreclosure Fraud Settlement Docs Finally Released The foreclosure fraud settlement has been filed in federal court in Washington. The Justice Department has provided the relevant documents, over a month … Read more
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Recording Fee Suit
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Mortgage Suit Mortgage Electronic Registration Systems Inc. and Bank of America Corp. asked a court to dismiss a lawsuit brought by Texas counties accusing MERS of filing false claims in property records. The counties allege Merscorp Inc.’s MERS was established by lenders including Bank of … Read more
National Foreclosure Fraud Settlement | Loan Mods and Consumer Relief Terms
Consumer Relief Requirements Any Servicer as defined in the Servicing Standards set forth in Exhibit A to this Consent Judgment (hereinafter “Servicer” or “Participating Servicer”) agrees that it will not implement any of the Consumer Relief Requirements described herein through policies that are intended to (i) disfavor a specific geography within or among states that … Read more
Naked Capitalism | The Legal Lie at the Heart of the $8.5 Billion Bank of America and Federal/State Mortgage Settlements
The Legal Lie at the Heart of the $8.5 Billion Bank of America and Federal/State Mortgage Settlements Once in a while, you can discern a linchpin lie on which other important lies hinge. We can point to quite a few in America: the notion of a permanent war on terror, which somehow justifies vitiating not … Read more
DOJ Press Release | $25 Billion Mortgage Servicing (Foreclosure Fraud) Agreement Filed in Federal Court
$25 Billion Mortgage Servicing Agreement Filed in Federal Cour SETTLEMENT DOCUMENTS Complaint (pdf) Ally/GMAC Settlement (pdf) Bank of America Settlement (pdf) Citi Settlement (pdf) JPMorgan Chase Settlement (pdf) Wells Fargo Settlement (pdf) ADDITIONAL INFORMATION Settlement Executive Summary (pdf) Settlement Fact Sheet (pdf) Benefits to Servicemembers and Veterans (pdf) Servicing Standards Highlights (pdf) SETTLEMENT PARTIES Ally/GMAC: 800-766-4622 Bank of America: 877-488-7814 Citi: 866-272-4749 JPMorgan Chase: 866-372-6901 … Read more
F* The Banks | March 15th 2012 – Occupiers Set Up Living Room in Bank of America Lobby (VIDEO)
A crew of occupiers makes a home of a Bank of America lobby with a couch, a coffee table, a rug and a potted plant. “Bank of America took our homes so we though we’d move in here!” Join them March 15 as America turns the tables on the nation’s largest bank! For more info: … Read more
Robosigned | Foreclosure Fraud Settlement Documents Released, Read Them Here
Here they are… More to come as we sort through them.. SETTLEMENT DOCUMENTS Complaint (pdf) Ally/GMAC Settlement (pdf) Bank of America Settlement (pdf) Citi Settlement (pdf) JPMorgan Chase Settlement (pdf) Wells Fargo Settlement (pdf) ADDITIONAL INFORMATION Settlement Executive Summary (pdf) Settlement Fact Sheet (pdf) Benefits to Servicemembers and Veterans (pdf) Servicing Standards Highlights (pdf) SETTLEMENT PARTIES Ally/GMAC: 800-766-4622 Bank of America: 877-488-7814 Citi: 866-272-4749 JPMorgan … Read more
Video Teach In | 100 Facts About Securitization w/ Lynn Szymoniak and Lisa Epstein
Part 1 Securitization is the 3rd of a series of teach-ins on Foreclosure Fraud given by attorney Lynn Szymoniak and fraudclosure activist Lisa Epstein. In the first part of the Securitization section, Lynn talks about RMBS trusts, which own most of the mortgages in the U.S. Part 2 Lynn talks about the laws involved in … Read more
Occupy | 6 Ways to Get Ready for the May 1st GENERAL STRIKE
6 Ways to Get Ready for the May 1st GENERAL STRIKE This year has already seen the largest-ever strike on record in India, hundreds of thousands marching for democracy in Bahrain, general strikes in Montreal and Spain where students once again occupied public space in protest of the austerity measures and spending cuts being enforced … Read more
Matt Weidner | America is Dying… Have You Done Anything To Help Save Her?
“I think the biggest fear for national security advisors is not attack from some foreign enemy thousands of miles and distant oceans away. The Red Guard is surely not planning any direct attacks here on our shore. The real national security fear is undoubtedly for what happens right here in the streets of the United … Read more
FORECLOSURE FRAUD THE FINANCIAL CRISIS AND SHREK’S ONION
“The CONSPIRED PLAN: To create “attractive” securitized trust ”investments” to sell on Wall Street to “unsuspecting securitized trust investors.” NOTE: Many “Investors” being Pension Plans for blue collar workers, which were instructed by the Pension Plans to invest only in verifiable “LOW RISK” investment vehicles. And let’s not forget other types of employee Pension Plans, … Read more
Whistleblower Lawsuits Against Banks Extinguished in Foreclosure Fraud Settlement
Whistleblower Lawsuits Against Banks Extinguished in Foreclosure Fraud Settlement I think my disgust over federal housing policy is just about complete. As you know, we’re still waiting for the actual terms of the foreclosure fraud settlement, more than one month after the announcement. But more information has dribbled out, not much of it to the … Read more
Thank You from PICO | Now, will you help us thank the legislators who stood with homeowners against the bank interests?
Dear Friends, You did it! Thank you for the emails, the phone calls, the visits to Tallahassee! You kept the pressure on the Florida Legislature for weeks, and late Friday night, your voice made the difference. The so-called Florida Fair Foreclosure Act died when the 2012 legislative session adjourned midnight Friday after a week of … Read more
Palm Beach Post | Quickie Foreclosure Bill Dies Friday in Senate
“Homeowner advocates cheered the bill’s death, declaring “Victory!” on the 4closurefraud.org website.” ~ Quickie foreclosure bill dies Friday in Senate by Kim Miller The streamlined foreclosure bill that would have reduced the amount of time a bank can pursue a homeowner for back debt but allow a faster foreclosure process in some cases never made … Read more
