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

Ocwen Financial Completes Acquisition of PHH Corporation; Glen Messina Becomes President and Chief Executive Officer

Ocwen Financial Completes Acquisition of PHH Corporation; Glen Messina Becomes President and Chief Executive Officer WEST PALM BEACH, Fla., Oct. 04, 2018 (GLOBE NEWSWIRE) — Ocwen Financial Corporation (NYSE:OCN) (“Ocwen” or the “Company”), a leading financial services holding company, today announced the completion of its acquisition of PHH Corporation (“PHH”), a mortgage platform with established … 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

RMBS: SEC Charges Moody’s With Internal Controls Failures and Ratings Symbols Deficiencies

SEC Charges Moody’s With Internal Controls Failures and Ratings Symbols Deficiencies FOR IMMEDIATE RELEASE 2018-169 Washington D.C., Aug. 28, 2018 — The Securities and Exchange Commission today announced that Moody’s Investors Service Inc., one of the nation’s largest credit ratings agencies, has agreed to pay a total of $16.25 million in penalties to settle charges … Read more