Deutsche Bank Reverses Pledge to Help Distressed Homeowners

Deutsche Bank Reverses Pledge to Help Distressed Homeowners $4.1 billion in settlement funds to be spent on new loans Monitor says needy may be miffed; bank says consumers benefit Deutsche Bank AG has decided that none of the more than $4 billion it promised to spend on consumer relief after the global mortgage crisis will … Read more

Foreclosure Fraud? OIG of FHFA Investigating Albertelli Law, Subpoenas Served

Foreclosure Fraud? FHFA Investigating Albertelli Law, Subpoenas Served Well look what we have here. Albertelli Law is once again under investigation by a government agency. According to the recently filed Motion for Protective Order,  ALAW is seeking an entry of an order pursuant to Fed. R. Evid. 502( d) that protects against a waiver of … Read more

This Banking Scandal Is Awful… Even For Wells Fargo

This Banking Scandal Is Awful… Even For Wells Fargo Our old friends at Wells Fargo are involved in yet another banking scandal. And this one is really bad… people wrongfully lost their homes and ended up on the street. But before I get into the details of this particularly atrocious mishap, let’s have a quick recap … Read more

Kaboom – Cesar Sayoc’s Home Was Foreclosed on by Steve Mnuchin’s Bank, Using Dodgy Paperwork

“The Sayoc foreclosure certainly fits a pattern of dodgy documents, known robo-signers, and a successful rubber stamp from the judicial system regardless. Given what we know about how David J. Stern’s law firm whipped through foreclosures, it’s likely to have other process errors. And we know that it happens to involve several people at the … Read more

Bank of America Fights Court Battle Over Purge of Nearly 2 Billion Foreclosure Records

“The flow chart shows that Bank of America corrected the lack of endorsements on original notes in open, active foreclosures by using unauthorized workers to surrogate sign endorsements on original notes with rubber stamps” ~ Bank of America Fights Court Battle Over Purge of Nearly 2 Billion Records At the heart of the dispute is … Read more

Reuters Fail: Robo-Signing – A CAUSE of the U.S. Housing Crisis Last Decade

Reuters Fail: Robo-Signing – A CAUSE of the U.S. Housing Crisis Last Decade From a recent article by Jonathan Stempel of Reuters… “Robo-signing involves the systematic approval of documents that have not been read. The practice was a cause of the U.S. housing crisis last decade, enabling marginal borrowers to obtain loans they did not … Read more

Restoration of the Protecting Tenants at Foreclosure Act 2018

Restoration of the Protecting Tenants at Foreclosure Act 2018 Congress Permanently Authorizes the Protecting Tenants at Foreclosure Act President Trump signed into law a permanent extension of the “Protecting Tenants at Foreclosure Act” (PTFA) on May 24. The PTFA was included in a larger deregulation bill (S. 2155) passed by the House on May 22. … Read more

Retrospectives of the Financial Crisis Are Leaving Out the Most Important Part—Its Victims

Retrospectives of the Financial Crisis Are Leaving Out the Most Important Part—Its Victims BY David Dayen Because I’m a masochist, I’ve read as many retrospectives as I could about the 10th anniversary of the fateful failure of Lehman Brothers, the emblematic event of the financial crisis. And I can’t help but notice a gaping hole … Read more