Nationwide Title Clearing Settles ‘Robo-Signing’ Suit in Illinois for $350,000

Nationwide Title Clearing settles ‘robo-signing’ suit in Illinois Illinois and Nationwide Title Clearing Inc., have entered into a consent decree that dismisses a lawsuit filed against the company last year, alleging it filed faulty mortgage documents with county recorders. The case, filed by the Illinois Attorney General’s office in Cook County Court in February 2012, … Read more

Bankruptcy and What it Means for You (Infographic)

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MAY THE ODDS EVER BE IN YOUR FAVOR – THE REAPING

MAY THE ODDS EVER BE IN YOUR FAVOR – THE REAPING “Human history seems logical in afterthought but a mystery in forethought. In every prior Fourth Turning, the catalyst was foreseeable but the climax was not.” -The Fourth Turning – Strauss & Howe – 1997 We are five years into the Crisis that will not … Read more

Skewed: Income Inequality in America (Infographic)

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FLA 3rd DCA: Kelsey vs SunTrust Mortgage, Inc. – Note, Mortgage Are Impermissible Hearsay Unless Properly Authenticated

FLA 3rd DCA: Kelsey vs SunTrust Mortgage, Inc. – Note, Mortgage are Impermissible Hearsay Unless Properly Authenticated At trial, SunTrust’s only testifying witness was Lauren Gergeceff (“Gergeceff”), a mediation litigation specialist employed by Nationstar Mortgage, LLC (“Nationstar”).1 Gergeceff testified that she had no independent knowledge of the loan, she had only seen the subject note … Read more

The NYT Implies that Not Prosecuting JPMorgan Proves DOJ’s Vigor

The NYT Implies that Not Prosecuting JPMorgan Proves DOJ’s Vigor By William K. Black No one expects Andrew Ross Sorkin’s slavish “Deal Book” lackeys to demand that the elite Wall Street bankers whose frauds drove the financial crisis be imprisoned, but the slavishness to the banks revealed when major news stories emerge continues to irritate … Read more

Casey Anthony’s Orlando Home In Foreclosure

ORLANDO (CBSMiami) – Casey Anthony’s name is back in the news. A foreclosure is looming over the house where Anthony lived with her parents and 2-year-old daughter. A lender filed a foreclosure complaint against Anthony’s mother, Cindy, earlier this month. Nationstar Mortgage said Cindy Anthony owes almost $129,000 on the house, according to our news … Read more

Family Almost Evicted From Home A Day Before Thanksgiving

Family almost evicted in risky short sale “We were going to close the Monday after we had scheduled the move-in date,” Nathan Cooper said. The Cooper’s moved in last month, but shortly after, both of the mortgages on the home were sold. “So now the new servicer decided to put it directly into foreclosure,” Cooper … Read more

Bob Shiller on House Appreciation “It’s Different Now, We Can’t Trust Momentum”

Bob Shiller on House Appreciation “It’s Different Now, We Can’t Trust Momentum” “I just don’t see evidence that people believe we are launching into a great new era” of home price appreciation,”that’s what we had in the early 2000s.” Simply put, he chides Faber and Cramer, “people are not so excited about the future,” in … Read more

RealtyTrac: Cash Sales Pull Back From Previous Month… Institutional Investor Purchases Plummet Nationwide

Cash Sales Pull Back From Previous Month, Still Represent 44 Percent of Total Sales   Institutional Investor Purchases Plummet Nationwide, Up in Georgia, North Carolina RealtyTrac: Cash Sales Pull Back From Previous Month… Institutional Investor Purchases Plummet Nationwide IRVINE, Calif. – Nov. 25, 2013 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, … Read more

And in Other News… Faucets at $1,000 Abound as Home Equity Spigot Opens

  Faucets at $1,000 Abound as Home Equity Spigot Opens A year ago, New Jersey contractor Michael Mroz’s customers were focused on saving money when renovating kitchens and baths, he said. Now, with a resurgence of home equity lending, they’re ready to pay for the best. “People don’t want granite countertops — they want marble … Read more

A New Wave of U.S. Mortgage Trouble Threatens: Home Equity Lines

A New Wave of U.S. Mortgage Trouble Threatens: Home Equity Lines (Reuters) – U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks. The loans are a problem now because an increasing number are … Read more

Man Facing Foreclosure Kills Self, Burns House Down on Same Day He was to Vacate

Man Dead in Dania Beach Home Fire A man was killed in a house fire in Dania Beach on Wednesday. Friends identified the man as Tad Vaughn, and authorities said they believe he killed himself. “I was standing in front of his house before the fire department got here,” neighbor Gloria Lawson said. “I had … Read more

Top Democrats Demand Answers on Independent Foreclosure Review Process

Top Democrats Demand Answers on Independent Foreclosure Review Process WASHINGTON, D.C. – In the absence of a long-promised public report, leading Democratic Members of Congress have called on federal regulators to disclose critically important information related to the Independent Foreclosure Review (IFR) process for 14 mortgage servicers and the $9.3 billion settlement that abruptly replaced … Read more

The Winners of the ‘Chase Twitter Fail’ Haiku Contest

The Winners of the ‘Chase Twitter Fail’ Haiku Contest Last week, I ran a quick post in this space (“Chase’s Twitter Gambit Devolves into All-Time PR Fiasco“) on the epic Twitter fail that was JP Morgan Chase’s planned #AskJPM online Q&A. For those who missed it, this was that outstanding Too-Big-To-Fail marketing idea where Chase … Read more

Former Foreclosure King David Stern is Ending His Fight to Hold Onto His Law License

Major foreclosure lawyer David Stern will accept disbarment TALLAHASSEE, Fla. (AP) — The Florida lawyer whose firm was handling tens of thousands of foreclosure cases at the height of the financial crisis is ending his fight to hold onto his law license. The likely disbarment of David Stern would mark the most significant punishment handed … Read more

J.P. Morgan, U.S. Reach Historic $13 Billion Settlement

J.P. Morgan, U.S. Reach Historic Settlement J.P. Morgan Chase JPM +1.59% & Co. and the Justice Department Monday agreed to a landmark $13 billion settlement that resolves a number of legal headaches for the largest U.S. bank, clearing the way for a public announcement as soon as Tuesday, according to people familiar with the talks. … Read more

The Paper Chase: Securitization, Foreclosure, and the Uncertainty of Mortgage Title

Securitization, Foreclosure, and the Uncertainty of Mortgage Title Via Credit Slips The Paper Chase is not exactly a short article, but if you’re the type that’s into reading about UCC Article 3 vs. Article 9 transfer methods for notes and MERS, then this piece is for you. There’s a lot of technical stuff in the … Read more

The Paucity of Criminal Prosecutions Arising from the Financial Crisis: Unaccountable?

Distinguished Jurist Lecture: Hon. Jed S. Rakoff, “The Paucity of Criminal Prosecutions Arising from the Financial Crisis: Unaccountable?” Time: 4:30 PM – 5:30 PM November 19, 2013 Location: Silverman 245A, Bernard Segal Moot Court Room Reception to follow. Open to the public.   Jed Saul Rakoff is a federal judge for the United States District … Read more

Summary of Our Latest Trial Win and Reminder of a Great Lesson Learned in One of My First Jury Trials

Summary of Our Latest Trial Win and Reminder of a Great Lesson Learned in One of My First Jury Trials By  Evan M. Rosen One of the more bizarre trials I’ve had in recent memory. Right out of the gate, things were going horribly.  At a hearing the morning of the trial, the Judge denied … Read more