H.R. 4953 Miller, Ellison Introduce the Mortgage Servicing Conflict of Interest Elimination Act Bill to Address Conflict of Interest in Mortgage Companies

Washington, D.C. – Just moments before the House adjourned last week, Reps. Brad Miller (D-NC)  and Keith Ellison (D-MN), both Members of the Financial Services Committee, introduced legislation that will eliminate a conflict of  interest that may be preventing large mortgage companies from modifying troubled mortgages voluntarily. Many large mortgage companies own second mortgages on … Read more

Well Now Isn’t This Interesting… A New Spin on Bank Fraud: Banks Defrauding Their Investors, Auditors and Regulators RE Foreclosures

A New Spin on Bank Fraud: Banks Defrauding Their Investors, Auditors and Regulators And Judges too… Lets pull some excerpts from this piece and see what we can learn… Last week, I made clear to my readers and subscribers that the bank malaise is not over… Housing prices are still on their way down, save … Read more

When Denying Loan Mods, Loan Servicers Often Wrongly Blame Investors

When Denying Loan Mods, Loan Servicers Often Wrongly Blame Investors by Karen Weise ProPublica Arthur and Alberta Bailey are about to lose their home near New Orleans, and their mortgage company says one thing stands in the way of relief: The investors who own their mortgage won’t allow any modifications. It’s a story heard again … Read more