The Next Hustle: Private Equity Giant, Blackstone, Wants to Give Landlords Millions

“We’re not verifying any income [of the borrower]. What we’re looking at is roughly about 33 percent higher in rent versus the PITI payments, so you can see that there’s a little bit of a buffer there, in order to sustain any type of slight dip” ~ This private equity giant wants to give landlords … Read more

New Jersey, Florida and New York Account for 49 Percent of FHFA’s Non-Performing Loans Sold

New Jersey, Florida and New York Account for 49 Percent of FHFA’s Non-Performing Loans Sold These three states also account for 47 percent of the Enterprises’ loans that are 1 year or more delinquent as of 12/31/2014. ~ 4closureFraud.org Tweet

How Much Did Banks Pay For The 2008 Financial Crisis? Fines And Settlements Of Over $160 Billion

How Much Did Banks Pay For The 2008 Financial Crisis? Fines And Settlements Of Over $160 Billion In Past 8 Years In the eight years since the  2008 financial crisis rocked markets and sent world economies into a downward spiral, many of the big banks that came to be seen as the face of that recession … Read more

Parrish v. FNMA: Subject Matter Jurisdiction, Unlawful Detainer – Supreme Court of Virginia Va­cates Foreclosure Judgement

Parrish v. FNMA: Subject Matter Jurisdiction, Unlawful Detainer – Supreme Court of Virginia Va­cates Foreclosure Judgement A circuit court on de novo appeal of an unlawful detainer action could not consider the borrowers’ questions of title arising from a foreclosure sale of appellants’ home, as the circuit court’s appellate jurisdiction was de­rivative; the Supreme Court … Read more

This is What Happens When Homes are Stolen by Mortgage Servicers

Could Homeownership Be Headed For 50 Percent? Will the homeownership rate fall below 50 percent?  Not a question most housing industry stakeholders want to think about, but some analysts are speculating that it could happen.  Freddie Mac, in its June edition of Outlook, takes a look at some of those predictions. The company’s economists start … Read more

NY Times: How Housing’s New Players Spiraled Into Banks’ Old ‘Mistakes’

How Housing’s New Players Spiraled Into Banks’ Old Mistakes Some private equity firms that came in as the cleanup crew for the housing crisis are now repeating ‘errors’ that banks committed, while others are bypassing the working poor. When the housing crisis sent the American economy to the brink of disaster in 2008, millions of … Read more

Michigan Supreme Court: People vs March – Larceny Charges Dismissed After Fixtures Taken from Foreclosed Home

“Hamood inspected the home on February 10, 2013, the day after the redemption period expired. Inside, he noticed various items missing, including kitchen cabinets, the kitchen countertop, a furnace, duct work, interior doors, a hot water tank, and an exterior air conditioner.” ~ Michigan Supreme Court: People vs March – Larceny Charges Dismissed After Fixtures … Read more

NY Times: Countrywide Mortgage Devastation Lingers as Ex-Chief, Angelo Mozilo, Moves On

“Countrywide was one of the greatest companies in the history of this country and probably made more difference to society, to the integrity of our society, than any company in America in the history of America”  ~ Angelo Mozilo ~ Countrywide Mortgage Devastation Lingers as Ex-Chief Moves On Angelo Mozilo can finally get on with … Read more

FL 4th DCA: ROBERT T. FROST v. CHRISTIANA TRUST – Christiana Trust’s Failure to Prove that Chase Actually Purchased the Note, is Fatal to its Case

DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FOURTH DISTRICT ROBERT T. FROST a/k/a ROBERT FROST, Appellant, v. CHRISTIANA TRUST, a Division of Wilmington Savings Fund Society, FSB, as Trustee for Normandy Mortgage Loan Trust, Series 2013-18, JP MORGAN CHASE BANK, NATIONAL ASSOCIATION, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., as Nominee for AMERICA’S WHOLESALE LENDER, … Read more

YALE University: FREE Online Course On The Global Financial Crisis Co-Lectured by Timothy F. Geithner

Geithner gives a lesson on the global financial crisis by Robert Laing This should be interesting… YALE University this week launched a massive open online course on the global financial crisis co-lectured by the US treasury secretary during the drama of 2008, Tim Geithner. I’ve just completed the first week’s assignments — the deadline is … Read more

HELP WANTED! Mortgage Electronic Registration Systems (MERS) Reconciliation Specialist

HELP WANTED! Mortgage Electronic Registration Systems (MERS) Reconciliation Specialist Kforce Finance and Accounting • Coral Gables, FL Apply on Company Website Job Snapshot Contractor Other Great Industries Finance Job Description RESPONSIBILITIES: Kforce has a client seeking a MERS Reconciliation Specialist (Temporary Position) in Coral Gables, FL. Position Summary: The MERS Reconciliation Specialist (MRS) is responsible … Read more

Pennsylvania Justices: Excessive Foreclosure Attorney Fees Actionable

“This is an extremely important systemic issue insofar as protecting Pennsylvania homeowners. Also of great significance is that it establishes that the legislature can regulate the activities of lawyers that are engaged in nonlawyer functions such as debt collection.” ~ Pennsylvania Justices: Excessive Foreclosure Attorney Fees Actionable A law firm representing a residential mortgage lender … Read more