The $25B fraudclosure settlement has been approved by U.S. District Judge Rosemary Collyer
Nick Timiraos @NickTimiraos of the WSJ via twitter The $25B foreclosure settlement has been approved by U.S. District Judge Rosemary Collyer. Also Nothing from the consent judgment entered into court in the $25B foreclosure settlement may constitute “evidence against Defendant.” More to come… ~ 4closureFraud.org Tweet
Lack of Competition Stifles Refinance Program for Underwater Homeowners
Lack of Competition Stifles Refinance Program for Underwater Homeowners by Cora Currier 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 for homeowners … Read more
ELSTON/LEETSDALE, LLC v CWCAPITAL ASSET MANAGEMENT LLC | The Wizard Behind The Curtain – Plaintiffs Must Plead Their Authority to Sue!
DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FOURTH DISTRICT January Term 2012 ELSTON/LEETSDALE, LLC, a Delaware limited liability company, Appellant, v. CWCAPITAL ASSET MANAGEMENT LLC, solely in its capacity as Special Servicer on behalf of U.S. BANK, N.A., Successor to STATE STREET BANK AND TRUST COMPANY, as Trustee for the registered holders … Read more
Report | THE BANKS ARE BACK OUR NEIGHBORHOODS ARE NOT – Discrimination in the Maintenance and Marketing of REO Properties
THE BANKS ARE BACK – OUR NEIGHBORHOODS ARE NOT Discrimination in the Maintenance and Marketing of REO Properties EXECUTIVE SUMMARY As the foreclosure crisis continues to affect 1 in 69 households across the United States, or roughly 2.7 million families in 2011, banks are repossessing an unprecedented number of properties.1 As a result, a related … Read more
Jamie Dimon’s Annual Letter to Shareholders “We made too many mistakes.”
JPMorgan CEO on housing: We made too many mistakes In a letter to shareholders Chief Executive Jamie Dimon admits that his bank contributed to the collapse of the American housing industry, but says that progress is being made to rectify the errors. “We were one of the better actors in this situation — but not … Read more
Honorable Judge Rakoff Seeking Truth of Wall Street Wrongdoing Labeled Rogue
Rakoff Seeking Truth of Wall Street Wrongdoing Labeled Rogue U.S. District Judge Jed Rakoff doesn’t shy away from high-profile fights. In 2005, he challenged the Department of Defense for holding suspected terrorists at Guantanamo Bay in Cuba without identifying them. The Pentagon protested his order to release their names, saying it would undermine their privacy … Read more
Fraudclosure Review Finds Possible Flaws in More Than 138,000 Bank Foreclosures
Review Finds Possible Flaws in More Than 138,000 Bank Foreclosures The nation’s biggest banks may have put the huge $25 billion settlement over bad foreclosure practices behind them, but that doesn’t mean their mortgage troubles are over. A separate review — this time by independent consultants on behalf of the Office of the Comptroller of … Read more
OCC Issues Cease and Desist Order Against Citibank, N.A. In the Matter of: Citibank, N.A. Sioux Falls, South Dakota
OCC Issues Cease and Desist Order Against Citibank, N.A. WASHINGTON — The Office of the Comptroller of the Currency (OCC) today issued a cease and desist order against Citibank, N.A., Sioux Falls, South Dakota, for violating the Bank Secrecy Act (BSA) and its underlying regulations. The order requires the bank to take comprehensive corrective actions … Read more
FRAUDCLOSURE | MOTION TO DISQUALIFY “ROBO-JUDGE” PETER DUBENSKY
“It is clear to Defendant and his undersigned counsel that the Judge is, with all due respect, a “robo-judge” when it comes to foreclosures. That sounds pejorative, but it is clear the Judge predetermined (in this case and many others) that he was going to grant summary judgment or set trial.” ~ Dismiss Cases? Or … Read more
And So It Begins (A Call To Revolution)
The Market Ticker | And So It Begins (A Greek Call To Revolution) Our government is a pack of fools. They, like the Greeks, had the opportunity to take banksters and arrest them for their crimes, giving them a fair and public trial and then imprisoning them. Instead they fell into league with them, engaging … Read more
Reuters | Americans Brace for Next Foreclosure Wave
“More conclusive national data is not yet available. But watchdog group, 4closurefraud.org which helped uncover the “robo-signing” scandal, says it has turned up evidence of a large rise in new foreclosures between March 1 and 24 by three big banks in Palm Beach County in Florida, one of the states hit hardest by the housing … Read more
Matt Stoller | Fighting Over the American Home: Handcuffs versus Hope and Change
Fighting Over the American Home: Handcuffs versus Hope and Change Matt Stoller is a fellow at the Roosevelt Institute. You can follow him on twitter at http://www.twitter.com/matthewstoller Over the past four years, we’ve watched as public officials pushed financial and legal power to the large banks – the latest episode in this saga was the … Read more
KABOOM | Bank of NY Mellon Must Face Lawsuit on Countrywide
Bank of NY Mellon must face lawsuit on Countrywide April 3 (Reuters) – A federal judge rejected Bank of New York Mellon Corp’s bid to dismiss a lawsuit by investors over its role as trustee for mortgage-backed securities that led to an $8.5 billion settlement by Bank of America Corp. U.S. District Judge William Pauley … Read more
Bankers Form SuperPac for ‘Surgical’ Strike at Industry’s Enemies
Bankers Form SuperPac for ‘Surgical’ Strike at Industry’s Enemies Frustrated by a lack of political power and fed up with blindly donating to politicians who consistently vote against the industry’s interests, a handful of leaders are determined to shake things up. They have formed the industry’s first SuperPAC — dubbed Friends of Traditional Banking — … Read more
