REBECCA NIDAY vs GMAC MORTGAGE, LLC, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC (MERS)
IN THE COURT OF APPEALS OF THE STATE OF OREGON REBECCA NIDAY, fka Rebecca Lewis, Plaintiff-Appellant, v. GMAC MORTGAGE, LLC, a foreign limited liability company; MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., a Delaware corporation; and EXECUTIVE TRUSTEE SERVICES, INC., a California corporation, Defendants-Respondents. Clackamas County Circuit Court CV10020001 A147430 Reversed and Remanded And the import of … Read more
KABOOM | Oregon Court of Appeals Rules Against Banks, Mortgage Electronic Registration Systems (MERS) in Foreclosure Case
Oregon Court of Appeals rules against banks, MERS in foreclosure case The Oregon Court of Appeals struck a blow to the mortgage industry in Oregon today, ruling that its controversial document-registry system could not be used to skirt state recording law in out-of-court foreclosures. In a decision with implications beyond the Mortgage Electronic Registration Systems … Read more
Florida 4th DCA Fraudclosure Reversed | HENDERSON vs LITTON LOAN SERVICING – A “holder” is the person in possession of the instrument that is payable to bearer or to an identified person in possession
DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FOURTH DISTRICT July Term 2012 CHRISTOPHER W. HENDERSON, Appellant, v. LITTON LOAN SERVICING, LP, Appellee. No. 4D10-1167 [July 18, 2012] Whether the appellee is entitled to enforce the promissory note remains a disputed issue of material fact. In Harvey v. Deutsche Bank Nat’l Trust Co., 69 … Read more
Straight Outta Compton… Straight Into Default – City May Declare Bankruptcy by September
City of Compton may declare bankruptcy by September: officials (Reuters) – The City of Compton, a city of 93,000 people located on the outskirts of Los Angeles, must decide by September 1 whether to seek bankruptcy, according to its two most senior financial officials. Such a move would see it join a growing number of … Read more
HUD ACCEPTING APPLICATIONS FOR ENTITIES TO PURCHASE TROUBLED MORTGAGES IN BULK
HUD ACCEPTING APPLICATIONS FOR ENTITIES TO PURCHASE TROUBLED MORTGAGES, OFFER CHANCE TO AVOID COSTLY FORECLOSURES AND STABILIZE NEIGHBORHOODS September loan sale to include neighborhood stabilization pools in Chicago, Newark, Phoenix and Tampa as part of broader Obama Administration effort to address shadow inventory, target relief to hardest hit communities WASHINGTON – Qualified entities interested in … Read more
Richard Duncan | THE NEW GREAT DEPRESSION: How Close Are We? (VIDEO)
How Close Are We to New Great Depression? The risk of a new depression — a sustained, severe recession — has struck fear into the heart of markets and driven monetary policy in developed economies since the current financial crisis began. “We’re in a very unfortunate position to be here,” Richard Duncan, author of The … Read more
Elizabeth Renuart | Toward a More Equitable Balance: Homeowner and Purchaser Tensions in Non-Judicial Foreclosure States
Toward a More Equitable Balance: Homeowner and Purchaser Tensions in Non-Judicial Foreclosure States Abstract: We are now facing the fifth year of the fallout from the subprime mortgage meltdown. The economic crisis gripping the United States began when large numbers of homeowners defaulted on poorly underwritten subprime mortgage loans. Through securitization, the process of utilizing … Read more
The Lost Opportunity, For Left, Right and Libertarian
The Market Ticker – The Lost Opportunity, For Left, Right and Libertarian There’s dumb. There’s really, really dumb. Then there are actions that appear to be so stupid that they must in fact be intentional — and when politicians commit them against their constituents, you have to question the voter’s intelligence. By day, Lynnette Acosta, … Read more
Obama Campaign Detectives Hunt for Foreclosed Florida Voters
Obama Campaign Detectives Hunt for Foreclosed Florida Voters By day, Lynnette Acosta, a 34-year- old mother of two, is an information-technology manager in Orlando, Florida. By night, she’s a sleuth for President Barack Obama’s re-election campaign, scouring for potential voters. In central Florida, that means knocking on doors in Hispanic neighborhoods with foreclosure rates as … Read more
Foreclosed on for a Phone Payment that Came in 35 Cents Short or for a Payment that Came in Two Weeks Early? This One has Both
A Manayunk foreclosure by Bank of America shows mortgage program’s flaws It might make financial sense for Lisa Fiorilli to just walk away from her home in Manayunk — a tidy, three-story rowhouse on one of the neighborhood’s familiar, hilly streets that rise up from Main Street and the canal. But Fiorilli, facing foreclosure after … Read more
80+ Year Old Sisters Victimized by CitiMortgage, Told to Stop Payments to Qualify for Mod, Instead they got Foreclosed
Sisters Feel Victimized by Mortgage Company At 82, Joyce Jackson is the spry younger sibling who takes care of her older sister and teaches cooking and gardening. Her sister, Doreen Wood, suffers memory loss and lingering health issues at age 84 after a serious illness several years ago. Jackson is glad to take care of … Read more
Big Banks and a Criminal Conspiracy | William K. Black: The LIBOR Fraud Stole Millions Upon Millions from American Cities and People Around the World
~ 4closureFraud.org Tweet
Neil Barofsky’s “Bailout”: Tim Geithner Is Sweaty, Dismissive
Neil Barofsky’s “Bailout”: Tim Geithner Is Sweaty, Dismissive Neil Barofsky, former Special Inspector General in charge of oversight of TARP, has written a juicy new book about the bailout and how it was handled–mishandled, rather, which is where the juicy parts come in. We got an advance copy of Bailout: An Inside Account of How … Read more
Executive Order – Assignment of National Security and Emergency Preparedness Communications Functions
Pres. Could Seize Radio, Internet, under New Exec. Order Does this mean the President can grab hold of the radio dial and the Internet? Now I’m not doubting that the executive branch needs to prepare for emergencies, but I do worry about the accretion of power in the hands of the President—any President. ~ Executive … Read more
HSBC | Senate Banking Committee: Utter Hypocrisy
The Market Ticker – Senate Banking Committee: Utter Hypocrisy The hypocrisy is dripping, yet the people of this nation refuse to rise. HSBC Holdings Plc (HSBA)’s head of group compliance, David Bagley, told a Senate hearing he will step down amid charges the bank gave terrorists, drug cartels and criminals access to the U.S. financial … Read more
HSBC Executive Resigns During Senate Hearing
Europe’s biggest bank – HSBC – is being accused of laundering money for drugs cartels and rogue nations. The bank has apologised to the U.S. Senate Committee behind the investigation – one executive has already said he’s resigning. Al Jazeera’s Alan Fisher reports. ~ 4closureFraud.org Tweet
Are Big Banks Criminal Enterprises?
Big Banks Don’t Commit Any Crimes … Do They? Here are some recent improprieties by the big banks: Laundering money for drug cartels. See this, this, this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008 financial crisis) Laundering money for terrorists Engaging in mafia-style big-rigging fraud against … Read more
OCC Officials Testify on HSBC Bank Secrecy and Money Laundering Issues
OCC Officials Testify on HSBC Bank Secrecy and Money Laundering Issues WASHINGTON — Comptroller of the Currency Thomas J. Curry, joined by Deputy Chief Counsel Daniel P. Stipano and former Deputy Comptroller for Large Banks Grace E. Dailey, testified at the hearing conducted by the Permanent Subcommittee on Investigations of the U.S. Senate Committee on … Read more
