Foreclosure Review Insiders Portray Massive Failure, Doomed From The Start Last January, dozens of independent contractors showed up for their first day of work at a large, single-story Bank of America building in Tampa to right the wrongs of a foreclosure crisis that many had witnessed firsthand. Or so they thought. They were lawyers, paralegals … Read more
Independent Foreclosure Review: Borrower Outreach Mailing and Response Data Overview The Independent Foreclosure Review (IFR) is required by the enforcement actions issued by federal banking regulators in April 2011. These actions were issued against 14 banking organizations for deficient practices in residential mortgage loan servicing and foreclosure processing. Under these actions, servicers were required to … Read more
Judicial foreclosures jump in December Court-supervised foreclosures — the alternative to the out-of-court system lenders have favored for decades — jumped in December, a reseller of foreclosed homes reported. Lenders filed 681 judicial foreclosures in 24 Oregon counties where Gorilla Capital operates. The Eugene company buys, redevelops and sells foreclosed homes. November saw 446 judicial … Read more
AIG sues NY Fed over right to sue Bank of America, others NEW YORK, Jan 11 (Reuters) – American International Group Inc has filed a lawsuit against a vehicle created by the Federal Reserve Bank of New York to help bail out the insurer, in a bid to preserve its right to sue Bank of … Read more
Investigation: 5 Banks Accused of Fraudulent Foreclosures in MA Violating National Mortgage Settlement
Investigation: 5 Banks Accused of Fraudulent Foreclosures in MA Five of the nation’s largest banks are now violating an agreement with the federal government in Massachusetts, according to an investigation of local foreclosure affidavits conducted by GoLocalWorcester. The investigation involved nearly 200 affidavits from Ally, Bank of America, Citi, Chase, and Wells Fargo filed with … Read more
OCC Issues Cease and Desist Order Against JPMorgan Chase, N.A., Related to Bank Secrecy Act/Anti-Money Laundering
OCC Issues Cease and Desist Order Against JPMorgan Chase, N.A., Related to Bank Secrecy Act/Anti-Money Laundering WASHINGTON — The Office of the Comptroller of the Currency (OCC) announced today the issuance of a cease and desist order, by consent, against JPMorgan Chase, N.A.; JPMorgan Bank and Trust Company, N.A.; and Chase Bank USA, N.A., for … Read more
Bank Secrecy Act and Other Anti-Money Laundering Requirements – Federal Reserve Board Issues Two Consent Cease and Desist Orders Against JPMorgan Chase & Co.
Federal Reserve Board issues two consent cease and desist orders against JPMorgan Chase & Co. Release Date: January 14, 2013 For immediate release The Federal Reserve Board on Monday issued two consent Cease and Desist Orders against JPMorgan Chase & Co., New York, New York (JPMC), a registered bank holding company. The first order requires … Read more
KABOOM | Massachusetts Supreme Judicial Court in HSBC vs MATT – A Party Must Have Standing to File a Complaint in the Massachusetts’ Land Court.
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Banks seek NSA help amid attacks on their computer systems Major U.S. banks have turned to the National Security Agency for help protecting their computer systems after a barrage of assaults that have disrupted their Web sites, according to industry officials. The attacks on the sites, which started about a year ago but intensified in … Read more
As NSA Pairs With Banks To “Fight Hackers”, Will It Also Gain Access To Every American’s Financial Secrets?
As NSA Pairs With Banks To “Fight Hackers”, Will It Also Gain Access To Every American’s Financial Secrets? Just because there was not enough encroachment by the government into virtually every corner of private life, here is another “collaboration” that will further enmesh big brother into every aspect of private life, in this case private … Read more