GAO REPORT | MORTGAGE FORECLOSURES – Regulatory Oversight of Compliance with Servicemembers Civil Relief Act Sucks
MORTGAGE FORECLOSURES – Regulatory Oversight of Compliance with Servicemembers Civil Relief Act Has Been Limited What GAO Found Certain protections under the Servicemembers Civil Relief Act (SCRA) only apply to those servicemembers who obtained mortgages prior to becoming active duty, but at least 15,000 instances of financial institutions failing to properly reduce servicemembers’ mortgage interest … Read more
REPORT | 401(k) Loan Defaults: How Big Is the Leakage and What Can Policymakers Do to Preserve Americans’ Nest Eggs?
401(k) Loan Defaults: How Big Is the Leakage and What Can Policymakers Do to Preserve Americans’ Nest Eggs? Abstract During times of economic stress, Americans increasingly borrow against their 401(k) accounts to smooth consumption and to extinguish other debts. This pattern has been clearly in evidence during and since the Great Recession of 2008-09. According … Read more
Americans Borrow Heavily from 401(k)s, Have Big Trouble Paying Off their Debt
Americans borrow heavily from 401(k)s but loan defaults are up The default rate on 401(k) loans hit 17.4% in the 12 months through May, compared with 9.7% in mid-2008, before the financial crisis. Americans are borrowing huge amounts of money from their 401(k) retirement plans — and then having big trouble paying off their debt, … Read more
BIG WIN IN GEORGIA | REESE et al. v. PROVIDENT FUNDING ASSOCIATES, LLP. – Ruling Could Have Huge Impact on Foreclosure Suits
In August of 2010, Nye Lavalle wrote the contents of http://4closurefraud.org/2010/08/05/only-a-secured-creditor-may-conduct-a-non-judicial-foreclosure-in-georgia/ detailing that a major lender’s lawyer in GA agreed with the above analysis and wrote a detailed explanation. This was used by a number of lawyers and pro ses, one of which was Morgan in the case to follow. Morgan was a former and … Read more
Abigail Field | Libor – The Lying Bankers Scandal as Bailout
The Lying Bankers Scandal as Bailout The Lying Bankers Scandal should be called the Bailout Theater scandal. I don’t mean the perhaps decades-long part where traders manipulated LIBOR by 0.01% or so, up and down, for personal profit. I mean the part that started in 2007 when the bankers lied by much more so they’d … Read more
Children’s Hospital of Philadelphia | Study Links Child Abuse to Home Foreclosures
Study links child abuse to home foreclosures Small children may be suffering the effects of the home foreclosure crisis in a serious way, researchers reported on Monday. They found a troubling increase in the number of young children with physical abuse showing up in hospital emergency rooms. The researchers found just under a 1 percent increase in … Read more
Jeff Thigpen | Registers of Deeds in Five NC Counties Take Issue with Fannie and Freddie’s Tax Exempt Status
Registers of Deeds in Five NC Counties Take Issue with Fannie and Freddie’s Tax Exempt Status Five Register of Deeds offices in North Carolina have written Attorney General Roy Cooper asking for a revised opinion on the tax exemption currently given to the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage … Read more
David Stockman | We’re Heading Toward Chaos, Recession, Paralysis (Bloomberg TV)
David Stockman, former director of the Office of Management and Budget in the Reagan administration, talks about the U.S. budget deficit, economy and Federal Reserve policy. Stockman speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg) ~ 4closureFraud.org Tweet
Deputy General Counsel Responds to Reports on Isolated Incidents of Prostitution at Treasury
Letter to the Editor: Deputy General Counsel Responds to Reports on Isolated Incidents of Misconduct at Treasury In response to an article in The Hill about isolated incidences of misconduct at Treasury, Deputy General Counsel Christian A. Weideman submitted the below letter to the editor. Treasury’s Inspector General earlier today also released a statement, which … Read more
View Point w/ Eliot Spitzer | Will Banks be Held Accountable for Libor Manipulation? (VIDEO)
Will Banks be Held Accountable for Libor Manipulation? Matt Taibbi, Rolling Stone contributing editor, and Dennis Kelleher, president and CEO of Better Markets Inc., join “Viewpoint” host Eliot Spitzer to assess the scope of the unfolding Libor scandal given news that the U.S. Justice Department is building criminal cases and expects to “file charges against … Read more
Regulators Sleep With Industry Prostitutes… While They Pimp Out the American People
Regulators Sleep With Industry Prostitutes … While They Pimp Out the American People Regulators and Industry “Hook-Up” There are some real connections between Wall Street and prostitution. See this, this and this. Instead of using taxpayer-generated bailout money to help the economy, some banking executives used it for prostitutes and other gratifications. The “regulators” who … Read more
Criminal Inquiry Shifts To JPMorgan’s Mispricing Of Hundreds Of Billions In CDS
Criminal Inquiry Shifts To JPMorgan’s Mispricing Of Hundreds Of Billions In CDS: Is Dimon The Next Diamond? From Reuters’ Matt Goldstein and Jennifer Ablan: Before last week’s disclosure, the criminal probe largely had focused on the personal trading of some CIO traders, two of those sources said. The authorities were looking for evidence that some … Read more
