Washington Post – 7 major lenders ordered to review foreclosure procedures

CITIBANK: It has strong training to ensure that employees in its foreclosure group are aware that they should have personal knowledge of the information in documents that require this before signing… ~ That spin reminds me of, “I did not have sexual relations with that woman.” Bill Clinton ~ 7 major lenders ordered to review … Read more

No Federal Preemption by a Trustee of a Mortgage Backed Security Trust from Senior Counsel of the Office of the Comptroller of the Currency

From the letter… Discussion Pursuant to 12 U.S.C. § 371, national banks may “make, arrange, purchase or sell loans or extensions of credit secured by liens on interests in real estate, subject to * * * such restrictions and requirements as the Comptroller of the Currency may prescribe by regulation or order.” The OCC’s real … Read more

OCC and OTS Mortgage Metrics Report First Quarter 2010

Executive Summary This OCC and OTS Mortgage Metrics Report for the first quarter of 2010 provides performance data on first-lien residential mortgages serviced by national banks and federally regulated thrifts. The mortgages in this portfolio comprise more than 64 percent of all mortgages outstanding in the United States—nearly 34 million loans totaling almost $6 trillion … Read more

Veteran’s Four Year Foreclosure Fiasco Finally Comes to an End – Ocwen Gives Back Stolen Title to Paid Off Home

Happy Memorial Day! Loan Servicer Sought Foreclosure Despite Proof Mortgage Was Paid GREENFIELD, Ind. — A woman who said she had no idea that her house had been put up for foreclosure even though the mortgage was paid off is relieved that a loan servicing company has backed off after years of struggle. After Marilyn … Read more

Mortgage Bankers Association Mockery – INCOMING!!!! Mortgage Servicing Under Fire

Here is an interesting find… Now they are mocking Congress, Federal Regulators, State Attorneys General, and other Enforcement Officials… From the presentation… Check out the full presentation below… 4closureFraud INCOMING!!!! Mortgage Servicing Under Fire

Columbia Law School Report – National Banks Made Riskier Loans That Worsened Foreclosure Crisis, Study Shows

Preemption Effect “Our research confirms that state consumer protection laws work, but that when one group of lenders is handed a regulatory free pass, they are going to take advantage of it.” Roberto G. Quercia, Director, UNC Center for Community Capital Study Funded by Law School’s National State Attorneys General Program Examines Effect of Federal … Read more