The Human Cost of Recessions: Assessing It, Reducing It

The Human Cost of Recessions: Assessing It, Reducing It Introduction Recessions leave scars on the labor market; the Great Recession of 2007–09 has left gaping wounds. Over 200 million people across the globe are estimated to be unemployed at present. Among countries with unemployment data in the IMF’s World Economic Outlook (WEO) database, there has … Read more

Foreclosure Mill Morality

”I think I heard the same excuse at Nuremburg. The difference was that in Germany you might get shot for disobeying orders. Not so here. Did anyone make an effort to “recommend” or “suggest” that the bank simply push back the turnover date in the Judgment of Restitution? There was little or no risk in … Read more

Property Owner In Foreclosure Suspected Of Staging Mistaken Mob Hit, Then Torching Premises To Cash In On $500K+ Insurance Policy

Windham fire explanation too ‘sensational’ for investigators Court papers say Donato Corsetti staged the fire to collect on an insurance policy. The owner of an apartment building in Windham that burned on Dec. 7 is now suspected of setting the fire and then tying himself up to make it look like a mob hit. Investigators … Read more

Marketing Campaign Offers Free Paint Jobs, 12 Months of Mortgage Payments to Homeowners Facing Foreclosure

Marketing campaign offers free mortgage for select homeowners ORLANDO, Fla. — Hundreds of homeowners in Orlando who want to live mortgage-free for a year have agreed to be part of an extreme and controversial marketing campaign. Tammy Valdes is one homeowner who’s applied to transform her home into a neon-hued billboard to get her mortgage … Read more

Not Holding My Breath But… Eliot Spitzer: ‘We’ve turned a corner’ – Wall Street Should Expect Criminal Cases in 2013

Eliot Spitzer: ‘We’ve turned a corner’ — Wall Street should expect criminal cases in 2013 “Viewpoint” host Eliot Spitzer reviews the year in Wall Street headlines and looks ahead to 2013 in this Web exclusive video. Spitzer argues that “it has not been a great year for Wall Street,” citing the Libor scandal, JPMorgan’s “London … Read more

Animals Often Forgotten as Victims of Foreclosure

Animals often forgotten as victims of foreclosure Like many other South Floridians, Madeleine J. Calder was crushed when she lost her 5-acre ranch in Palm Beach County to foreclosure. But she hadn’t counted on also losing her most prized possessions: six ostriches, named Rhett Butler, Miss Scarlett, Bob, Gallagher Bird, Ken Doll and Little Bit. … Read more

Washington State | Bankers’ Issues & Answers – Navigating Non-Judicial Foreclosures After Bain v. Metropolitan Mortgage Group, Inc., et al.

Navigating Non-Judicial Foreclosures After Bain v. Metropolitan Mortgage Group, Inc., et al. In August, the Washington State Supreme Court weighed in on the role of Mortgage Electronic Registration Systems, Inc. (“MERS”) in Washington’s non-judicial foreclosure process, holding that MERS does not meet the definition of “beneficiary” in Washington’s Deed of Trust Act (“DTA”) RCW 61.24.005(2), … Read more

Deutsche Bank Sued Over $173 Million in Mortgage Bonds

Deutsche Bank Sued Over $173 Million in Mortgage Bonds Deutsche Bank AG (DBK) was sued in New York by Landesbank Baden-Wuerttemberg, which accuses the German bank of fraud in the sale of $173 million in mortgage-backed securities in 2007. Deutsche Bank engaged in “egregious fraud,” selling securities that were riskier than promised and leading to … Read more