Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

2017

2016

2015

2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1990's
January | February | March | April |May | June | July | August | September | October | November | December

 Date

Article

Articles are added weekly 

Source

  Comment

12/22/16

Worcester’s woes: Foreclosures on the rise"

Worcester Magazine


Worcester’s woes: Foreclosures on the rise
The holidays are supposed to be relaxing and filled with joy from the company of family and friends. You’re supposed to travel from house to house enjoying one another and the place that brings you together — home. For far too many, however, the holidays are just another day spent worrying, if, and when, they will lose their home. The collapse of the housing market in 2008 left many lives in ruins and many families without their most personal and prized possession: their home...

12/16/16

Democrats solicit complaints about Steve Mnuchin, the "foreclosure king"

Housing Wire


Building case against Trump's Treasury secretary nominee?
Senate Democrats, led by Sen. Elizabeth Warren, D-Mass., appear to be showing their hand a bit on how they plan to handle the confirmation hearing of one of President-elect Donald Trump’s top cabinet nominees. On Friday, Warren took to Twitter to unleash one ...

12/13/16

MAAPL Hosts Free December Foreclosure Defense Clinics

MAAPL – The Massachusetts Alliance Against Predatory Lending


MAAPL Hosts Free December Foreclosure Defense Clinics Posted on December 13, 2016 by MAAPL NOTE: More clinics are planned throughout December—please check this post frequently for additional clinic dates and locations! The Mass. Alliance Against Predatory Lending (MAAPL) is hosting a series of free legal clinics across Massachusetts in December for homeowners who were foreclosed in 2014 or earlier. These clinics will help homeowners to complete the paperwork necessary to file an affidavit with the Registry of Deeds and understand the recording process. Foreclosed homeowners face a deadline on Friday, December 30th, 2016 to file paperwork to preserve their right to regain their home...

12/06/16

Sen. Merkley intros bill to give Wells Fargo victims day in court

Justice League


Sen. Jeff Merkley, D-Ore., announced Monday that he has joined 14 of his colleagues to introduce legislation, the Justice for Victims of Fraud Act of 2016, to give Wells Fargo customers who were victims of a fraudulent account scheme their day in court.

12/05/16

The foreclosure nightmare continues in New Jersey

Justice League


New Jersey has a lot of zombie homes. Perhaps that’s not unusual for a state that seems to observe Halloween as a national holiday, preparing for more than two months, then celebrating in just two hours on Oct. 31.

12/04/16

Fed official stands by Wall Street reforms, says must complete work

Justice League


The United States “absolutely must” complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday.

12/02/16

Allied Home Mortgage, CEO Jim Hodge ordered to pay $92 million for FHA fraud

Housing Wire


Jury hands victory to U.S., which initially wanted $834 million.

12/02/16

Steve Mnuchin: Evictor, Forecloser and Our New Treasury Secretary

BillMoyers.com


By Peter Dreier
Trump’s appointee is the very model of a predatory lender.

12/02/16

First Look: New Linda Tirelli Suit Against Bank of America

Liberty Road Media

First Look: New Linda Tirelli Suit Against Bank of America
Attorney Linda Tirelli, a rockstar in the arena of foreclosure defense, has just filed an adversarial bankruptcy suit in the Southern District of New York naming the following as defendants: Bank of America, Nationstar, U.S. Bank, and Recontrust. As many former and soon-to-be-former homeowners know, this group is a veritable rogue’s gallery of home/wealth/livelihood/sanity thieves and scam artists. The fact that Tirelli is going after this financial mafia family is heartening, because Tirelli gets results.

12/01/16

NeighborWorks America invites qualified community development nonprofits to apply for a share of $26.5 million in grants

Sys-con Media

NeighborWorks America invites qualified community development nonprofits to apply for a share of $26.5 million in grants to revitalize distressed communities hurt by the foreclosure crisis

11/30/16

Trump Treasury pick: Fannie Mae and Freddie Mac will be privatized

Housing Wire

Trump Treasury pick: Fannie Mae and Freddie Mac will be privatized
Steve Mnuchin tells Fox Business: "We’ll get it done reasonably fast"
By Ben Lane

11/30/16

Wilbur Ross and Steve Mnuchin—Profiteers of the Great Foreclosure Machine—Go to Washington

The Nation

Wilbur Ross and Steve Mnuchin—Profiteers of the Great Foreclosure Machine—Go to Washington
Mnuchin and Ross led companies that committed fraud to foreclose on millions of homeowners. Now they will be in charge of the entire US economy. What could go wrong?
By David Dayen

11/29/16

21 Lawmakers Come Out To Defend The Consumer Financial Protection Bureau

Consumerist

21 Lawmakers Come Out To Defend The Consumer Financial Protection Bureau
While most federal agencies will soon see a change in leadership and direction after President-elect Donald Trump takes office, the head of the Consumer Financial Protection Bureau is supposed to be shielded from such sudden changes. A recent court decision put that protection — and the future of the CFPB itself — in question, but today

11/28/16

EXCLUSIVE: Ben Carson will accept HUD secretary role

Housing Wire

EXCLUSIVE: Ben Carson will accept HUD secretary role
The speculation is now over as sources close to the appointment confirm to HousingWire that Ben Carson will officially accept the role of United States Secretary of Housing and Urban Development.

11/18/16

OCC slaps serious sanctions on Wells Fargo as fake account fallout continues

Housing Wire

OCC slaps serious sanctions on Wells Fargo as fake account fallout continues
The Office of the Comptroller of the Currency slapped a series of sanctions on Wells Fargo that were previously excluded from its settlement with the megabank over the fake account scandal that recently shrouded the bank in controversy.

11/14/16

They’re Growing Older. Their Mortgage Debt Is Growing Deeper.

New York Times

They’re Growing Older. Their Mortgage Debt Is Growing Deeper.
It was a modest house, a two-bedroom ranch in Arlington, Mass. Jerri and Richard Newman had to stretch to buy it for $169,000 in 1996, but with his job at Boston’s Museum of Fine Arts and her freelance editing, they figured they could swing it. They took out a 30-year, fixed-rate mortgage. But

11/14/16

Guest post: the foreclosure vote

Mathbabe

Guest post: the foreclosure vote
This is a guest post by Tom Adams, who spent over 20 years in the securitization business and now works as an attorney and consultant and expert witness on MBS, CDO and securitization related issues. I don’t expect anyone to really come up with the perfect explanation for why Clinton lost and Trump won the presidential election. But I do spend some time looking at these maps:

11/16/16

Will Trump Tackle Housing Finance Reform?

National Mortgage News

Will Trump Tackle Housing Finance Reform?
WASHINGTON – Housing was the talk of the campaign two presidential elections ago, but it stayed under the radar in the 2016 race, leaving plenty of room to speculate about President-elect Donald Trump's likely mortgage policy for the next four years.

11/16/16

Fed's Kashkari unveils plan to tackle 'too big to fail' banks and funds

CNBC

Fed's Kashkari unveils plan to tackle 'too big to fail' banks and funds
Fed's Kashkari unveil plan to end 'too big to fail' Fed's Kashkari unveils plan to end 'too big to fail' 12 Hours Ago | 01:43 Minneapolis Federal Reserve President Neel Kashkari unveiled a plan on Wednesday to prevent future government bailouts by forcing the largest U.S. banks to hold so much capital that they would probably decide to break themselves up.

11/11/16

How Letting Bankers Off the Hook May Have Tipped the Election

New York Times

How Letting Bankers Off the Hook May Have Tipped the Election
There are many facets to the populist, anti-establishment anger that swept Donald J. Trump into the White House in Tuesday’s election. A crucial element fueling the rage, in my view, was this: Not one high-ranking executive at a major financial firm was held to account for the crisis of 2008.
As millions of foreclosures and job losses followed,

11/10/16

HISTORY OF THE FINANCIAL CRISIS

Fraud Investigation Bureau This is a comprehensive history documenting the events that caused the 2008 Financial Crisis through news articles, documents, and public pronouncements. We hope this resource will assist fraud investigators and activists in understanding the larger context of the battle we are waging to bring truth and shed light on those who are gutting average Americans through back room deals and fraudulent settlements.

11/10/16

Critics of Colorado’s foreclosure process say it is “fundamentally broken”

The Denver Post Colorado Supreme Court considering changes to how foreclosures happen

11/03/16

11 Oregon counties sue private mortgage registry MERS

The Oregonian

11 Oregon counties sue private mortgage registry MERS
Eleven Oregon counties are suing a mortgage-industry company that registers loan sales, circumventing public property records.

10/30/16

This obscure government agency has a plan to put Wall Street CEOs in prison

Washington Post

Since the 2008 financial crisis, one obscure federal agency has succeeded in doing what many thought was impossible: sending bankers to prison.
The agency has charged 85 bankers from across the country with a crime over the last few years and already sent 36 to prison.
The former chief executive of Virginia’s Bank of the Commonwealth, who was accused of contributing to the 2008 financial crisis through the bank’s “brazen greed and dishonesty,” was sentenced to more than 20 years...

10/20/16

The Times Launches Native Series for Facebook Live: The Whistleblowers

NY Times

Today The New York Times will begin a five-part live interactive video series on Facebook led by Gretchen Morgenson, a Pulitzer-Prize winning business journalist and columnist. The Whistleblowers series will allow viewers to interact in real time with prominent people who exposed wrongdoing like Richard Bowen, formerly of Citigroup, Michael Winston, formerly of Countrywide, and Nye Lavalle, who pointed out mortgage fraud.

10/20/16

Australia Banks Ordered To Review Mortgage Fraud

Fraud Investigation Bureau

The Australian- The banking regulator has ordered the major banks to have their fraud systems externally reviewed, amid concerns mortgages are being sold on inflated incomes and generous living expense assumptions. Appearing before the Senate Economics Legislation Committee, Australian Prudential Regulation Authority chairman Wayne Byres revealed the regulator had informed the “largest institutions” to get their external auditors to review fraud control mechanisms to ensure they are working.

10/20/16

Linda Tirelli's live interview by Gretchen Morgenson of the NYTimes:

NY Times

The California Attorney General is weighing a criminal investigation into Wells fargo for illegal identity theft.

10/20/16

SHELLPOINT MORTGAGE SERVICING - FAILURE TO ADHERE PRUDENT SERVICING PRACTICES?

Change.org

Shellpoint Mortgage Servicing (“SMS”) is a mortgage loan servicer with office in Greenville, South Carolina and Houston, Texas. Shellpoint claims to have “quietly” grown to be the 15th largest non-bank mortgage servicing within the United States.

10/07/16

Deutsche Bank as Next Lehman Brothers: Far-Fetched but Not Unthinkable

NY Times

All it took was the threat of a $14 billion fine against Deutsche Bank for the word “contagion” to rear its ugly head.
Global markets have been shaken up in recent weeks over fears that Deutsche Bank

10/04/16

Wells Fargo foreclosure manual under fire

Washington Post

Wells Fargo foreclosure manual under fire
Wells Fargo created an elaborate guide for how to produce missing documents to foreclose on homeowners, according to a lawsuit that has caught the attention of state and federal regulators. Repost from March 17, 2014

10/04/16

A recovery in Deutsche Bank shares has lost some steam as investors face continued uncertainty about how big a U.S. penalty the bank will receive

PCH Frontpage FRANKFURT, Germany (AP) — Deutsche Bank shares rose 1.5 percent on Tuesday as investors sought clarity on how big a U.S. penalty the bank will receive. Shares in Germany's biggest bank rose, sank and rose again to close at 11.75 euros as trading in Germany resumed after a holiday Monday. The shares have been under pressure since the bank revealed the U.S. Justice Department was seeking a $14 billion payment to settle an investigation into the bank's dealings in bonds backed by shaky mortgages. Deutsche Bank shares rallied off record lows Friday on a media report that a lower fine was being discussed.

9/30/16

Wells Fargo heat turned up: Oregon wants big changes, California wants Stumpf to resign

Housing Wire

Answers call from eight senators to open investigation
Wells Fargo has its hands full these days. The beleaguered megabank is already facing a $185 million fine for the recent fake account scandal, which subsequently led to ongoing investigations from the House Financial Services Committee and the Department of Justice, not to mention a rough appearance before the Senate Banking Committee for Wells Fargo CEO John Stumpf.

9/28/16

We’ve updated our mortgage servicing rules to provide greater protections for mortgage borrowers and other homeowners

CPFB Today we are updating our mortgage servicing rules and expanding foreclosure protections for struggling borrowers and other homeowners. Our mortgage servicing rules that became effective in 2014 require that the companies that collect and process mortgage payments, known as servicers, give troubled borrowers direct and ongoing access to servicing personnel, promptly credit payments, and correct errors on request. The rules also include strong protections for struggling homeowners, including those facing foreclosure." 

9/28/16

Labor Department launches "top-to-bottom" review of Wells Fargo

Housing Wire

Answers call from eight senators to open investigation
Wells Fargo has its hands full these days. The beleaguered megabank is already facing a $185 million fine for the recent fake account scandal, which subsequently led to ongoing investigations from the House Financial Services Committee and the Department of Justice, not to mention a rough appearance before the Senate Banking Committee for Wells Fargo CEO John Stumpf.
January | February | March | April |May | June | July | August | September | October | November | December
 

copyright MSFraud.org