Pinching Pennies in the Hedge-Fund Capital of America

Pinching Pennies in the Hedge-Fund Capital of America The lonely $250,000 S-Class coupe at Mercedes-Benz of Greenwich says it all. For six months, it’s been sitting in the showroom, shimmering in vain while models priced at only $70,000 fly out the door. “We haven’t had anyone come in and look at it,” says Joey Licari, … Read more

Nationstar Faces Allegations of Foreclosure Fraud, Again

“I don’t understand it. I never missed a payment. I don’t have a house anymore.” ~ Nationstar Faces Allegations of Foreclosure Fraud A Shelby County Circuit Court lawsuit and government records revealed a pattern of fraud allegations against mortgage-servicing company Nationstar Mortgage. The WMC Action News 5 Investigators launched an investigation of the Dallas-based mortgage-servicer after … Read more

‘Massive’ Shortage of Appraisers Causing Home Sales Delays

‘Massive’ Shortage of Appraisers Causing Home Sales Delays Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing. Appraisers, the men and women who value homes and whom mortgage lenders depend upon, are shrinking in numbers. That … Read more

Wells Fargo or the Federal Reserve: Who’s the Bigger Fraud?

Wells Fargo or the Federal Reserve: Who’s the Bigger Fraud? The Wells Fargo bank account scandal took center stage in the news last week and in all likelihood will continue to make headlines for many weeks to come. What Wells Fargo employees did in opening bank accounts without customers’ authorization was obviously wrong, but in … Read more

Go Bid! Signed Copy of Chain of Title by David Dayen Available at Netroots Nation Auction

A signed copy of Chain of Title is one of the items available at the Netroots Nation auction. Good cause, go bid! https://t.co/kmGGvoaxzS — David Dayen (@ddayen) September 26, 2016 Go Bid! Signed Copy of Chain of Title by David Dayen Available at Netroots Nation Auction In the depths of the Great Recession, a cancer … Read more

Fraudclosure: Rouge Foreclosures are Still in Full Swing Even After National ‘Settlement’

Woman in Years-Long Battle with Wells Fargo to Keep Her Home A year into her family’s new sanctuary, illness struck.    Molotky contracted bacterial meningitis in 2007. “I almost died… attacks all your organs,” she said.  “It does permanent damage… so that was a really hard time.” She was fighting for survival, and still caring … Read more

John Oliver Slams John Stumpf Wells Fargo Chair & Ceo

John Oliver Slams John Stumpf Wells Fargo Chair & Ceo “That’s right: Wells Fargo employees created fake email addresses to enroll customers in hidden accounts, creating PIN numbers the customers didn’t even know existed,” Oliver said. “And hidden fees are bad enough without being hidden inside hidden accounts with hidden PIN numbers made with hidden … Read more

As Banks Continue to Foreclose with False Documents, Men Accused Of Taking Over Vacant Houses To Stand Trial

As Banks Continue to Foreclose with False Documents, Men Accused Of Taking Over Vacant Houses To Stand Trial Jurors are scheduled to hear opening statements Monday in an unusual trial in Cook County criminal court. The defendant is charged with theft of more than a million dollars — in the form of houses, many in … Read more