Why Did the OCC Let HSBC Off For $249 Million?

Why Did the OCC Let HSBC Off For $249 Million? By Lynn E. Szymoniak, Esq., January 19, 2013 To judge the reasonableness of the most recent foreclosure fraud settlement announced by the OCC, it is important to consider HSBC’s role in foreclosure fraud. HSBC Bank USA, N.A. acted as Trustee for several hundred mortgage-backed trusts. … Read more

Citing Federal Protection, Army Dentist Fights Bank of America Foreclosure

Citing Federal Protection, Army Dentist Fights Foreclosure U.S. Army reservist Diana Zschaschel has filed suit against Bank of America, which claims she was not eligible for federal protection while a foreclosure went through. ~ 4closureFraud.org

Lawmaker, Carolyn Maloney, Seeks Details on Foreclosure Reviews

Lawmaker Seeks Details on Foreclosure Reviews The high cost of reviewing foreclosures at big banks has ignited an inquiry by one member of Congress. Carolyn Maloney, a New York Democrat who is a member of the House Financial Services Committee, has asked the federal regulators who oversee foreclosure reviews to provide details about the independent … Read more

Florida Statute 702.10 Order to Show Cause in Foreclosure Cases Requires REAL Verification

Order to Show Cause Requires REAL Verification Florida Statute 702.10 sets forth a procedure by which a foreclosure plaintiff can request an expedited foreclosure.  Under the statute, if the plaintiff files a motion and follows the procedures in the statute, the Court will enter an Order requiring the defendant to come to court and explain why a Final … Read more

Glazer v. Chase Home Finance | Appeals Court Rules Foreclosure Lawyers are “Debt Collectors” Under FDCPA

“we hold that mortgage foreclosure is debt collection under the, Act. Lawyers who meet the general definition of a “debt collector” must comply with, the FDCPA when engaged in mortgage foreclosure. And a lawyer can satisfy that definition if his principal business purpose is mortgage foreclosure or if he “regularly” performs this function. In this … Read more

New Paradigm for Mortgage Put-Back Claims? One Case at a Time

New paradigm for mortgage put-back claims? I did a double take Wednesday, when I noticed a pair of new suits by Lehman Brothers Holdings in federal court in Colorado. The complaints, which are almost identical, claim that the mortgage originator Universal American Mortgage breached representations and warranties about loans it sold to Lehman, which subsequently … Read more