Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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08/15/17

CA Supreme Court Clarified Title vs Sale Perfection

Living Lies

CA Supreme Court Clarified Title vs Sale Perfection
Once again, the devil being in the details, the attempt to treat perfection of title and perfection of sale goes down in flames in an Unlawful Detainer action in California.

08/14/17

US Bank Loses Uncontested Foreclosure

Living Lies

US Bank Loses Uncontested Foreclosure
U.S. Bank Trust, N.A. v. Monroe, 2017 WL 923326 (N.D.N.Y. March 8, 2017) This case is much more than a decision on diversity jurisdiction. The decision is important for that reason but even more substantively it lifts the hood over the “Trustees” of so-called REMIC Trusts.

08/11/17

What’s Keeping Foreclosures at Bay?

Dsnews.com

What’s Keeping Foreclosures at Bay?
The tiny state of Massachusetts, particularly around Cape Cod, could be a solid microcosm for the state of foreclosures in late 2017...However, the filing of foreclosure deeds was up statewide nearly 7 percent in the state and up 300 percent on the Cape?? a sign, the Times wrote, “that the backlog of auctions was continuing to be resolved.”

08/11/17

The Fed Wants to Make Life Easier for Big-Bank Directors

Nytimes.com

The Fed Wants to Make Life Easier for Big-Bank Directors
Amid reports Thursday that Stephen Sanger, chairman of the Wells Fargo board, may step down in the coming months, all eyes are on the bank’s directors and their oversight of the troubled institution.

08/11/17

New state program buys mortgages to avoid foreclosures

Newsday.com

New state program buys mortgages to avoid foreclosures
ALBANY — The state is stepping in to help 203 Long Island households facing foreclosure in a new way to combat zombie properties, Gov. Andrew M. Cuomo announced.

08/10/17

Thousands of Mass. Homeowners Getting Refunds After Homeowners Insurance Settlement

WHDH.com

Thousands of Mass. Homeowners Getting Refunds After Homeowners Insurance Settlement
Some Massachusetts homeowners were billed for property insurance they didn’t need. Now, thousands of residents are getting big payouts, and the Massachusetts Attorney General is warning other homeowners to be on guard.

08/10/17

PHH Agrees to Pay Over $74 Million to Resolve Alleged False Claims Act Liability Arising from Mortgage Lending

Stopforeclosurefraud.com

PHH Agrees to Pay Over $74 Million to Resolve Alleged False Claims Act Liability Arising from Mortgage Lending
PHH Corp. PHH Mortgage Corp. and PHH Home Loans (collectively, PHH) have agreed to pay the United States $74,453,802 to resolve allegations that they violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the

08/10/17

Add your name: Wells Fargo must root out fraud and corruption

Living Lies

Add your name: Wells Fargo must root out fraud and corruption
The John Chiang for California Governor is asking for a full, transparent investigation to fire executives responsible for the latest Wells Fargo scandals. At least he acknolwedged Wells Fargo is a criminal enterprise.

08/10/17

Blackstone Group profits from Stolen Middle Class Homes

Living Lies

Blackstone Group profits from Stolen Middle Class Homes
Editor’s Note: Blackstone Group’s special relationship with banks and county recorder’s offices allowed them to buy blocks of illegally foreclosed homes for pennies on the dollar. A significant percentage of these homes purchased in the foreclosure crisis had fraudulent paperwork, forged signatures, and were “owned” by MERS.

08/09/17

Attorney Linda Tirelli Defines Robo-Signing For Clueless Steven Mnuchin

HuffPost

Attorney Linda Tirelli Defines Robo-Signing For Clueless Steven Mnuchin
It seemed like the Treasury Secretary doth protest a bit too much as a Shakespearean drama unfolded at a July 27th meeting of the House Financial Services Subcommittee. Steven Mnuchin, like some wayward damsel in distress,

08/09/17

Attorney Linda Tirelli Defines Robo-Signing For Clueless Steven Mnuchin

HuffPost

Attorney Linda Tirelli Defines Robo-Signing For Clueless Steven Mnuchin
It seemed like the Treasury Secretary doth protest a bit too much as a Shakespearean drama unfolded at a July 27th meeting of the House Financial Services Subcommittee. Steven Mnuchin, like some wayward damsel in distress,

08/09/17

David Dayen at New Republic: Every day in America, somebody gets tossed out of a home based on false documents

Living Lies

David Dayen at New Republic: Every day in America, somebody gets tossed out of a home based on false documents
Back in January, after Donald Trump had nominated Steven Mnuchin as treasury secretary, I uncovered a leaked document from the California attorney general’s office that showed OneWest Bank repeatedly broke foreclosure laws under Mnuchin’s six-year reign as CEO and then chairman.

08/09/17

David Dayen: Revoke Wells Fargo’s Bank Charter

Living Lies

David Dayen: Revoke Wells Fargo’s Bank Charter
Last week Wells Fargo was caught forcing unwanted insurance on car loan borrowers. This week, they’ve been exposed profiting from a DIFFERENT kind of unwanted insurance: The latest inquiry, by officials at the Federal Reserve Bank of San Francisco, where the bank has its headquarters, involves a different, specialized type of insurance that is sold to consumers when they buy a car.

08/09/17

USDC Eastern PA: Prince v. BAC Home Loans Breach of Contract & RICO claim may proceed.

Living Lies

USDC Eastern PA: Prince v. BAC Home Loans Breach of Contract & RICO claim may proceed.
Congratulations to Pennsylvania attorney Joshua Thomas. See order here: Prince v. BAC Home Loans Eastern PA 2017 08 Decision A Federal judge agreed to hear charges of wire fraud and other charges from a homeowner who complains that he suffered loss and other damages in connection with a loan in which “Citimae” and others were involved.

08/08/17

WELLS FARGO'S LYIN' CHEATIN' WAYS: BANKING WITH A SOCIOPATHIC INSTITUTION AND HOW TO LET GO

Occupy.com

WELLS FARGO'S LYIN' CHEATIN' WAYS: BANKING WITH A SOCIOPATHIC INSTITUTION AND HOW TO LET GO
Are you facing serial cheating, abuse, lies, ongoing stress about money, issues of fidelity, questions about your future and are at a loss as to where to turn? Do you often feel angry, taken advantage of, less than, a voiceless victim? Did you put your trust and your nest egg,

08/08/17

Wells Fargo has ripped off Veterans, Auto Loan customers and Homeowners: The Feds do nothing.

Living Lies

Wells Fargo has ripped off Veterans, Auto Loan customers and Homeowners: The Feds do nothing.
New legal challenges are piling up for Wells Fargo as the U.S. banking giant tries to rebuild trust with customers and investors after a scandal over millions of unauthorized accounts.

08/08/17

Fannie and Freddie foreclose on almost 16,000 homes in May, almost 4 million since 2008

Living Lies

Fannie and Freddie foreclose on almost 16,000 homes in May, almost 4 million since 2008
Editor’s Note: Fannie and Freddie have foreclosed on almost 4 million homes since the financial crisis of 2008. The GSEs typically can’t prove they own the loan if it was securitized between 1999 and 2014. Did you know that Fannie Mae and Freddie cannot accept a note that is not properly endorsed and assigned?

08/08/17

1st DCA CA: Not so Fast on Rubber Stamping Foreclosures

Living Lies

1st DCA CA: Not so Fast on Rubber Stamping Foreclosures
As we have seen for months there have been a steady stream of cases in which the courts have turned back to the fundamental requirements of due process and the rule of law. Here the court reminds (again) that judicial notice is not a substitute for foundation of facts in dispute AND that the homeowner’s right to sue for wrongful foreclosure is NOT to be dismissed even if it is poorly worded.

08/04/17

Greenspan: Bond bubble about to break because of 'abnormally low' interest rates

CNBC

Greenspan: Bond bubble about to break because of 'abnormally low' interest rates
Former Federal Reserve Chairman Alan Greenspan issued a bold warning Friday that the bond market is on the cusp of a collapse that also will threaten stock prices.

08/04/17

Wells Fargo to pay $108 million for allegedly overcharging veterans on refis

Housing Wire

Wells Fargo to pay $108 million for allegedly overcharging veterans on refis
It seems that Wells Fargo literally can’t go one week without facing another scandal. Exactly one week ago, Wells Fargo revealed its latest scandal,

08/04/17

David Dayen Broadcasts: Wells Fargo deserves the Corporate Death Penalty

Living Lies

David Dayen Broadcasts: Wells Fargo deserves the Corporate Death Penalty
Today on Ring of Fire, Investigative Journalist, David Dayen, will join us to unpack the latest Wells Fargo Bank scandal and why he thinks they should receive the corporate death penalty.

08/04/17

The Mains Event: Demand that Attorney Generals Nationwide comply with LPS/Black Knight Consent Judgement

Living Lies

The Mains Event: Demand that Attorney Generals Nationwide comply with LPS/Black Knight Consent Judgement
Anyone who knows former FDIC Team Leader Eric Mains knows he is one tenacious ex-banker. In eight years of litigation, every court he has approached for relief has stonewalled his efforts to discover who owns his mortgage loan. Mains is still in his home despite

08/04/17

The Fannie Freddie Document Treasure Trove

Living Lies

The Fannie Freddie Document Treasure Trove
Editor’s Note: Former Secretary of Treasury Timothy Geitner was instrumental in greasing the runways for HAMP so the GSEs could steal homes. But he also engineered the theft of GSE investor profits while proclaiming Fannie Mae and Freddie Mae to be on the verge of collapse. Instead, the federal government,

08/03/17

6th Circuit: No waiver of due care and fair dealing

Living Lies

6th Circuit: No waiver of due care and fair dealing
This court has again returned us to the rule of law. You can’t screw up and then blame the victim for the problem or even allow the victim to suffer the damages.

08/03/17

Guliex: Silenced for applying the Rule of Law

Living Lies

Guliex: Silenced for applying the Rule of Law
The Justices of the Fifth District Court and courts especially in California have been interpreting procedural rules, laws of evidence, statutory and common law differently in foreclosure cases than they do in other cases where the issues are identical as to ownership and authority to collect a debt.

08/02/17

Treasury Secretary Mnuchin is angry about an unflattering nickname he wholeheartedly deserves

Business Insider

Treasury Secretary Mnuchin is angry about an unflattering nickname he wholeheartedly deserves
Steven Mnuchin is miffed as heck, and he’s not going to take it anymore. "I take great offense to anybody who calls me the foreclosure king," the Treasury Secretary and former Goldman Sachs banker told a Congressional hearing late last week.

08/02/17

NJ Supreme Court: If Borrower Abides By Terms Of Settlement Agreement, Lender Must Modify Mortgage

Living Lies

NJ Supreme Court: If Borrower Abides By Terms Of Settlement Agreement, Lender Must Modify Mortgage
Lawsuits arising out of foreclosures and mortgage modifications are common. (Even more common than lawsuits about gyms or health clubs if you can believe that.) Nearly every day there is a decision from the Appellate Division arising out of a residential foreclosure.

08/02/17

EverBank failed to comply with HUD Face-to-Face Requirements

Living Lies

EverBank failed to comply with HUD Face-to-Face Requirements
EverBank failed to comply with a condition precedent to foreclosure, imposed by HUD regulations, requiring that in the event of payment default, the mortgagee have a face-to-face meeting with the mortgagor, or make a reasonable effort to do so. This was a Massachussets Appeal Court case entitled Everbank v. Chacon, that was originally filed in the Chapter 7 bankruptcy court.

08/01/17

Donald Trump’s Pick For Key Bank Regulator Is A Foreclosure Kingpin, Of Course

Huffington Post

Donald Trump’s Pick For Key Bank Regulator Is A Foreclosure Kingpin, Of Course
Joseph Otting signed legal papers admitting the bank he ran forged documents to push Americans out of their homes. He also bought a mansion.

08/01/17

Give Wells Fargo the Corporate Death Penalty

New Republic

Give Wells Fargo the Corporate Death Penalty
The bank is a serial corporate criminal that has screwed over millions of Americans. Here's what the government should do about it.

08/01/17

U.S. Bank Screws the Investors —- AGAIN Reversed NY 1st App. Division

Living Lies

U.S. Bank Screws the Investors —- AGAIN Reversed NY 1st App. Division
The banks got away with it because of the complexity of the documents and the general failure of lawyers and others to read the documentation. But they also got away with it because nobody was raising a challenge — like this one where US Bank simply engaged in self-dealing, possibly fraud and certainly breach of contract and breach of fair dealing. Now, like a great sleeping giant, the investors are awakening.

07/31/17

Elizabeth Warren Finds $12 Billion in Bank Theft Against Americans, Then GOP Wants to Shut It Down

Bluedotdaily.com

Elizabeth Warren Finds $12 Billion in Bank Theft Against Americans, Then GOP Wants to Shut It Down
The Consumer Financial Protection Bureau just celebrated its sixth anniversary, but the Trump administration decided to start the process of killing it last week by seeking to nullify the agency’s progress regarding an arbitration rule.

07/29/17

A Pattern of Deception

HOWARD ON MORTGAGE FINANCE

A Pattern of Deception
On July 19, Judge Margaret Sweeney unsealed 33 additional documents produced in discovery for the lawsuit brought by the Fairholme Funds in the U.S. Federal Court of Claims. They were made available to the public early last week.

07/29/17

Pro Per Homeowner WINS tide-changing case in California Appellate Court 5th District: GULIEX v. PENNYMAC HOLDINGS LLC

Mathews-street-america.net

Pro Per Homeowner WINS tide-changing case in California Appellate Court 5th District: GULIEX v. PENNYMAC HOLDINGS LLC
Hoorays are ringing out in California! Another furtherance of remedy and right-thinking standing on the shoulders of 2016's CA State Supreme Court's other game-changing ruling on "borrower's standing" in YVANOVA. Here the GULIEX court on appeal found: "(Yvanova, supra, 62 Cal.4th at pp. 929, fn. 4, 937.) Based on Yvanova, the order sustaining the demurrer to the first three causes of action in Borrower's amended complaint cannot be upheld due to an absence of standing. Under Yvanova, Borrower has standing to challenge a foreclosure by an unauthorized entity."

07/29/17

Housing Bubble II: Bubble, Bubble, Toil and Trouble

Living Lies

Housing Bubble II: Bubble, Bubble, Toil and Trouble
This isn’t your father’s housing and mortgage market- Mark Hanson, Real Estate Analyst https://www.mhanson.com/ In 2007 the largest housing bubble in American history was inflating and literally popped overnight. The Mainstream media would prefer that you focus on the DC Circus Show than on the Case-Shiller charts that indicate that 2017 looks eerily familiar.

07/29/17

We stand corrected: Treasury Secretary Steve Mnuchin is the Mafia Kingpin of Robosigners

Living Lies

We stand corrected: Treasury Secretary Steve Mnuchin is the Mafia Kingpin of Robosigners
CNN is reporting that One West’s Steve Mnuchin is demanding that you don’t call him, ‘the Foreclosure King.’ The authors at Livinglies would be happy to oblige him. From now on we will refer to Steve Mnuchin as the Mafia Kingpin of Robosigners. Mnuchin is correct, he shouldn’t be treated as Royalty, but as the organized crime leader he is.

07/28/17

AG Healey Leads 20 State Coalition Urging Congress to Protect Legal Rights of Victimized Consumers

The Official Website of the Attorney General of Massachusetts

AG Healey Leads 20 State Coalition Urging Congress to Protect Legal Rights of Victimized Consumers
Leads Coalition of State Attorneys General in Letter to U.S. Senate Leadership BOSTON – Attorney General Maura Healey led a coalition of 20 attorneys general in urging U.S. Senate leaders not to repeal the Consumer Financial Protection Bureau’s (CFPB) Arbitration Rule, which stops companies from forcing consumers to sign away their legal rights.

07/27/17

Treasury Secretary Mnuchin: Do not call me the 'foreclosure king'

CNN

Treasury Secretary Mnuchin: Do not call me the 'foreclosure king'
Whatever you do, don't call Steven Mnuchin 'the foreclosure king.' It really ticks him off.
Democrats and housing advocates bestowed the title on Mnuchin after he was named by President Trump to serve as Treasury Secretary. They accused Mnuchin of having profited from the 2008 financial crisis by foreclosing on thousands of distressed homeowners while he was owner of housing lender IndyMac, which later was renamed OneWest.

07/27/17

Who is killing the CFPB’s arbitration rule?

Publicintegrity.org

Who is killing the CFPB’s arbitration rule?
Big Banks back representatives leading effort to stop regulation protecting right to class-action lawsuits
The financial industry’s hefty investment in the campaigns of House members appeared to pay off this week when that chamber voted to kill a new rule that allows consumers to file class-action lawsuits against banks and other institutions.

07/27/17

The Treasury Secretary Just Lied Under Oath

The Nation

The Treasury Secretary Just Lied Under Oath
Steve Mnuchin and Joseph Otting, the only two CEOs in the short and ignominious history of OneWest Bank, both testified before Congress on Thursday.

07/27/17

CA 5th DCA: Magical Presumptions Are Not Enough

Living Lies

CA 5th DCA: Magical Presumptions Are Not Enough
Finally the courts are coming back to real law as opposed to invented doctrine designed to let the banks win. The significance of this case cannot be overstated.

07/27/17

Bid Fraud — Costly Errors to County Clerks and Buyers

Living Lies

Bid Fraud — Costly Errors to County Clerks and Buyers
The moral of the story is don’t believe the title record, don’t believe the County Clerk, and don’t believe anything you think you know about the sale of property subject to a foreclosure judgment.

07/26/17

Another Pinellas foreclosure auction fools bidders, raises questions

Tampa Bay Times

Another Pinellas foreclosure auction fools bidders, raises questions
For the second time in six weeks, a company connected to lawyer Roy C. Skelton stood poised to profit from a Pinellas County foreclosure auction that confused even experienced real estate investors.

07/26/17

Fla 4th DCA Judgment for Borrower — Only Original Allonge Can Be Used

Living Lies

Fla 4th DCA Judgment for Borrower — Only Original Allonge Can Be Used
In Florida and most states following judicial foreclosure rules, the alleged foreclosing party must submit the original note to the court. An allonge is an instrument that is basically used to add additional room onto the note for endorsements. It is NOT an amendment to the note. The original allonge is required by law — in all 50 states — to be permanently affixed to the original note.

07/25/17

U.S. House Chooses Bank Lobbyists’ Demands Over Constituents’ Legal Rights

NACA

U.S. House Chooses Bank Lobbyists’ Demands Over Constituents’ Legal Rights
Washington, D.C. - The U.S. House voted to approve a resolution under the Congressional Review Act that would repeal a rule on arbitration issued by the Consumer Financial Protection Bureau.

07/25/17

House Votes to Strip Americans’ Right to Their Day in Court

NCLC

House Votes to Strip Americans’ Right to Their Day in Court
WASHINGTON, D.C. – Today, the U.S. House of Representatives voted to block a new Consumer Financial Protection Bureau (CFPB) rule that restores critical consumer rights. The CFPB’s rule, released earlier this month, prohibits the use of forced arbitration clauses

07/24/17

Jamie Dimon: You Make Us Embarrassed to be Americans

New Economic Perspectives

Jamie Dimon: You Make Us Embarrassed to be Americans
By William K. Black
July 24, 2017 Kansas City, MO
Jamie Dimon talked about his personal pain recently using the exact phrase that many of us have used to explain his personal anguish that “It’s almost an embarrassment to be an American citizen traveling around the world and listening to the stupid sh—t we have to deal with in this country.” The Wall Street Journal’s “Market Watch” described Dimon’s fervor.

07/24/17

More Docs And More Proof of a Scheme to Illegally Pilfer Fannie and Freddie

Valuewalk.com

More Docs And More Proof of a Scheme to Illegally Pilfer Fannie and Freddie
As they have for years, government lawyers continue to insist that the Net Worth Sweep was critically necessary to relieve Fannie and Freddie from a purported “death spiral” in which the GSEs would have to make draws on the Treasury commitment simply to pay dividends back to the Treasury. The reasoning was laid out in a brief that Treasury filed just last month in the Eighth Circuit Court of Appeals.

07/24/17

MERS and its “Parent” are trying to invade Oregon again, despite Supreme Court ruling!

Clouded Titles Blog

MERS and its “Parent” are trying to invade Oregon again, despite Supreme Court ruling!
For those of you in Oregon, you should be writing your legislators, especially the ones who are trying to pass the following Senate Bill (968), which would put MERS back into legislative existence again in Oregon, despite the Oregon Supreme Court’s rulings in Niday and Brandrup:

07/24/17

Investigator Bill Paatalo: Why JPMorgan Chase did not purchase $615 Billion of WaMu Loans

Living Lies

Investigator Bill Paatalo: Why JPMorgan Chase did not purchase $615 Billion of WaMu Loans
Investigator Bill Paatalo questions the practice of using “Substitution of Trustees”. Paatalo points out that WMAAC and WMMSC have never been dissolved and still exist. Although the loans did not go through the FDIC, Chase executes assignments from the FDIC in order to substitute trustees. In this article Paatalo demonstrates that JPMorgan Chase did not purchase ownership of $615 billion in Washington Mutal loans in three simple steps.

07/24/17

2d Circuit: If Trusts Are Not REMICs then Qui Tam Would Have Survived

Living Lies

2d Circuit: If Trusts Are Not REMICs then Qui Tam Would Have Survived
Here again the Truth seems to be the third rail of litigation if it is in any way related to the bogus “REMIC” “Trusts” or their “certificates” or their status in foreclosure litigation. None of it is real. Here again we have a case that bends down to pick up pennies while 100 dollar bills are flying overhead.

07/23/17

Standing At Inception: First DCA Goes En Banc

Stayinmyhome.com

Standing At Inception: First DCA Goes En Banc
Florida’s First District Court of Appeal recently voted en banc to reconsider the long-standing requirement that lenders prove their standing to foreclose at the inception of a lawsuit. Recognizing the importance of the issue, the 1DCA invited briefs from amicus curiae

07/22/17

Mich. foreclosure law is ‘gov’t-sanctioned thieving’

Living Lies

Mich. foreclosure law is ‘gov’t-sanctioned thieving’
The Supreme Court of the United States (SCOTUS) is being petitioned by several small property owners in Michigan who argue that they were victimized by the state’s abusive foreclosure law that allows the local government to steal their property and make hundreds of thousands of dollars in profit off of them.

07/21/17

Mini-CFPB? Pennsylvania attorney general launches consumer financial protection unit

Housing Wire

Mini-CFPB? Pennsylvania attorney general launches consumer financial protection unit
With the Consumer Financial Protection Bureau now entering its seventh year squarely in the crosshairs of the Republican Party, one state is taking matters into its own hands to ensure that its residents are protected from the unscrupulous practices of financial services companies, no matter what happens to the CFPB.

07/21/17

David Dayen: More Trump Populism: Hiring a Bank Lawyer to Attack CFPB Bank Rules

Living Lies

David Dayen: More Trump Populism: Hiring a Bank Lawyer to Attack CFPB Bank Rules
President Trump and Republicans in Congress have broadcast their every intention to gut the Consumer Financial Protection Bureau. The president’s budget attempted to defund it and leading Republicans have called for its director to be fired and replaced with a more Wall Street-compliant regulator.

07/21/17

Ocwen to Shell Out $56 Million in Class-Action Settlement

Living Lies

Ocwen to Shell Out $56 Million in Class-Action Settlement
Ocwen Financial Corporation (NYSE: OCN) on Thursday announced that has reached a $56 million settlement over a federal class-action lawsuit, the latest in a line of issues for the troubled servicer.

07/20/17

NACA Condemns Efforts in Congress to Repeal Arbitration Rule

NACA

NACA Condemns Efforts in Congress to Repeal Arbitration Rule
National Association of Consumer Advocates Condemns Efforts in Congress to Repeal Agency Rule That Restores Americans’ Legal Rights

07/19/17

Winter is Coming: Supreme Court Adopts New Bankruptcy Rules to Take Effect December 1, 2017

Stopforeclosurefraud.com

Winter is Coming: Supreme Court Adopts New Bankruptcy Rules to Take Effect December 1, 2017
Finally, after several years of debate, major changes have been approved that will have a profound impact on consumer bankruptcy cases.

07/19/17

GOP Moving Forward With Plan To Block New Legal Protections For Bank, Credit Card Customers

Consumerist.com

GOP Moving Forward With Plan To Block New Legal Protections For Bank, Credit Card Customers
The Consumer Financial Protection Bureau recently finalized new rules that prevent banks and other financial institutions from stripping customers of their constitutional right to a day in court. As expected, bank-backed lawmakers

07/19/17

Billions in Student Debt Could Disappear Because of Lost Paperwork

Vice

Billions in Student Debt Could Disappear Because of Lost Paperwork
The latest example of America's legal system being a total shitshow might actually help you out—if it doesn't screw you over first.

07/19/17

Quicken Loans Banged for $11 Million Appraissal Fraud

Living Lies

Quicken Loans Banged for $11 Million Appraissal Fraud
It comes as no surprise that a tiny subsidiary of Quicken was getting kickbacks on appraisal fees and that the appraisals were “MAI” (Made As Instructed.” This is one of the lynchpins of the illegal scheme.

07/18/17

NY Times: Student Debt Getting Wiped Out by Fraudulent Claims of Securitization

Living Lies

NY Times: Student Debt Getting Wiped Out by Fraudulent Claims of Securitization
Dozens of lawsuits to collect student loans are being dismissed — essentially wiping out the debt. The reason, just like homeowner loans, is that the chain of title on the loans is broken, inconsistent and jsut plain wrong, resulting in lawsuits being filed against students for nonexistent loans — i.e., where the student didn’t borrow money. Like homeowners, it is a numbers game.

07/17/17

Monday Morning Cup of Coffee: Wells Fargo prepares to unveil digital mortgage

Housing Wire

Monday Morning Cup of Coffee: Wells Fargo prepares to unveil digital mortgage
The digital mortgage revolution is about to take a mammoth step forward, as the nation’s largest mortgage lender is preparing to go digital.

07/14/17

HUD Did Not Conduct Rulemaking or Develop Formal Procedures for Its Single- Family Note Sales Program

Office Of Inspector General

HUD Did Not Conduct Rulemaking or Develop Formal Procedures for Its Single- Family Note Sales Program
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited HUD’s rulemaking process for its single family note sales program. We initiated the audit due to the large amount of Federal Housing Administration claims paid on note sales and because our office has never audited the single-family note sales program.

07/14/17

Wells Fargo stuck mortgage borrowers with extra fees, whistle-blower's lawsuit says

LA Times

Wells Fargo stuck mortgage borrowers with extra fees, whistle-blower's lawsuit says
As Wells Fargo & Co. continues to be hit with fallout from its sham-accounts scandal, the bank is facing allegations that it put the screws to customers in yet another way: by slapping them with fees for delays in processing mortgage applications.

07/13/17

Firm Successfully Prevents Foreclosure In Zullo v. HMC Assets, 16 MISC 000413

Glenn F. Russell, Jr & Associates, P.C.

Firm Successfully Prevents Foreclosure In Zullo v. HMC Assets, 16 MISC 000413
After a four and one-half year battle, on July 06, 2017, the Firm successfully achieved a ruling from the Land Court that the foreclosing entity HMC Assets, as Trustee for The CAM III Trust, failed to meet the strict statutory requirements in order to use the Massachusetts non judicial foreclosure process under G.L. c. 244, §14, and G.L. c. 183, §21, and therefore could not hold the foreclosure auction sale.

07/13/17

FDIC Chairwoman: Mortgage Industry ‘Didn’t Think Borrowers Were Worth Helping’

Pro Publica

FDIC Chairwoman: Mortgage Industry ‘Didn’t Think Borrowers Were Worth Helping’
Outgoing Federal Deposit Insurance Corporation Chairwoman Sheila C. Bair's revealing exit interview by the New York Times' Joe Nocera has generated plenty of buzz.

07/11/17

Cordray takes on Wall Street with consumer protection rule

Sfchronicle.com

Cordray takes on Wall Street with consumer protection rule
Richard Cordray, the director of the Consumer Financial Protection Bureau, on Monday lobbed a golden apple of discord into the middle of Wall Street.

07/11/17

How Obama’s Failure To Prosecute Wall Street Set The Stage For Trump’s Win

Huffingtonpost

How Obama’s Failure To Prosecute Wall Street Set The Stage For Trump’s Win
A “chickenshit club” of prosecutors who only pursue easy targets managed to change history, a veteran Wall Street reporter argues in a new book.

07/11/17

Congress Should Embrace Rule That Restores Consumer Choice

NACA

Congress Should Embrace Rule That Restores Consumer Choice
Statement of Christine Hines, Legislative Director, National Association of Consumer Advocates Sen. Tom Cotton (R-Ark.) appears to be intent on depriving American consumers of critical choices when they face big banks and predatory lenders.

07/11/17

It's About to Get a Lot Easier to Sue Your Bank for Screwing You Over

Vice.com

It's About to Get a Lot Easier to Sue Your Bank for Screwing You Over
Unless Republicans in Congress decide to kill a new regulation, that is. It's almost unheard of for the federal government to ban anything done by Wall Street bankers.

07/10/17

CFPB Releases Final Rule to Limit Forced Arbitration in Financial Contracts

NACA

CFPB Releases Final Rule to Limit Forced Arbitration in Financial Contracts
WASHINGTON, D.C. – The CFPB has issued (link is external) its long-anticipated and widely supported rule (link is external) that will restore consumers’ right to join together in court to hold bad actors in the financial industry accountable when they break the law.

07/09/17

MERS Lacks Legal Authority and Public Accountability

Deadly Clear

MERS Lacks Legal Authority and Public Accountability
Harvard Amicus Brief on MERS
Some of the best quotes
Excellent overview of a sham concept set to nationalize our land records. It must stop! Findsen Law

07/07/17

CFPB Updates Know Before You Owe Rule

Mortgagenewsdaily.com

CFPB Updates Know Before You Owe Rule
The Consumer Financial Protection Bureau (CFPB) has announced final updates to it "Know Before You Owe" mortgage disclosure rule which went into effect on October 3, 2015. The changes are intended to formalize guidance on the rule and provide greater clarity and certainty.

07/07/17

Delaware Supreme Court rules Holder must prove it owns Note: Shrewsbury v. The Bank of NY Mellon

Living Lies

Delaware Supreme Court rules Holder must prove it owns Note: Shrewsbury v. The Bank of NY Mellon
The Delaware Supreme Court has ruled you must own note and mortgage in order to foreclose — which is what I have been saying for 12 years. A lot of good that will do the millions of people who lost their homes to parties that did not have ownership of the note and mortgage.

07/06/17

NO TRUST ASSETS: In the eye of the storm

Living Lies

NO TRUST ASSETS: In the eye of the storm
This is one more nail in the coffin of false securitization: the only assets attributed to apparent “Buyers” were those related to and including servicer advances. By severing the investors from their positions as creditors, <\p>

07/04/17

Republicans side with banks over consumers

USA Today

Republicans side with banks over consumers
Faced with a choice between helping their constituents or helping themselves to a campaign donation haul, House Republicans are siding with deep pockets.

07/03/17

RED Herring: VOID, VOIDABLE — What difference does it make?

Living Lies

RED Herring: VOID, VOIDABLE — What difference does it make?
Just a short note this Holiday extended weekend. The banks have raised the whole issue of void or voidable based upon the potential for ratification. That is a red herring. The fact that something COULD happen does not mean it DID happen.

07/03/17

10th Circuit Challenges SCOTUS on TILA Rescission — Pohl v US Bank, “Trustee”

Living Lies

10th Circuit Challenges SCOTUS on TILA Rescission — Pohl v US Bank, “Trustee”
“Courts are still inventing doctrine out of whole cloth allowing banks to escape liability and responsibility for their wrongful acts. This decision is so far off the charts that it will most certainly be reversed.”

06/30/17

How the Home Flipping Industry Is Pushing Poor People Out of Their Homes

Alternet

How the Home Flipping Industry Is Pushing Poor People Out of Their Homes
The United States has entered a new phase of residential foreclosure. The basic narrative is shocking: House-flippers are being allowed to push troubled homeowners out of their houses.

06/28/17

Recent Case Decision Summaries

Living Lies

Recent Case Decision Summaries
Hat tip to Carlton Fields I have excerpted their case summaries relevant to foreclosure. They did a great job of providing key words for searches.

06/27/17

Despite exposés and embarrassments, hundreds of judges preside in New York without law degrees

Abajournal.com

Despite exposés and embarrassments, hundreds of judges preside in New York without law degrees
The news releases are sent out with considerable regularity, brief and basic accounts of actions taken by the New York State Commission on Judicial Conduct: A judge is sanctioned for misconduct on the bench;

06/27/17

MERS and Securitization

Living Lies

MERS and Securitization
Excerpt from Garfield’s Guide to Foreclosure Defense
There are three flavors of securitization of loans:
The concept of sharing risk in a large pool of loans
The documents creating the infrastructure for securitization
The actual transactional behavior of the participants

06/26/17

VERIZZO v. BANK OF NEW YORK MELLON | FL 2DCA

Stopforeclosurefraud.com

VERIZZO v. BANK OF NEW YORK MELLON | FL 2DCA
We are again required to reverse a final judgment of foreclosure because of the plaintiff’s failure to prove at trial the existence of standing at the inception of the case

06/26/17

JPMorgan Chase Bombshell: The Mortgage Liens were Released and then Foreclosed anyways

Living Lies

JPMorgan Chase Bombshell: The Mortgage Liens were Released and then Foreclosed anyways
Transcript Reveals How JPM Chase “Got away with it” — selling loans that were already sold, releasing liens and then foreclosing on nonexistent liens

06/25/17

‘Homeownership was a mirage’: How home buyers say their American dream became a nightmare

Indystar.com

‘Homeownership was a mirage’: How home buyers say their American dream became a nightmare
Home ownership seemed out of reach to Ashley Glenn. That is, until a friend told her about an Indianapolis company run by Christians who help people that don't qualify for traditional mortgages.

06/25/17

Foreclosure Prevention is Paying Off claim the GSEs

Living Lies

Foreclosure Prevention is Paying Off claim the GSEs
The GSEs claim to have prevented more than 49,000 foreclosures in the first quarter, an increase of nearly 5,000 preventions compared to Q4, according to the Federal Housing Finance Agency’s Q1 Foreclosure Prevention Report. Unfortunately, the majority of these loans that were prevented from being foreclosed upon were held by parties that had no evidence of standing or ownership, and therefore had no right to negotiate.

06/22/17

US Office of the Solicitor General files Amicus Brief in Investor False Claims Suit re: Schneider v JP Morgan Chase

Stopforeclosurefraud.com

US Office of the Solicitor General files Amicus Brief in Investor False Claims Suit re: Schneider v JP Morgan Chase
IN THE UNITED STATES COURT OF APPEALS FOR THE DISTRICT OF COLUMBIA CIRCUIT UNITED STATES OF AMERICA, EX REL. LAURENCE SCHNEIDER, ET AL., Plaintiffs, LAURENCE SCHNEIDER, Plaintiff-Appellant, v. JPMORGAN CHASE BANK, NATIONAL ASSOCIATION; JPMORGAN CHASE & CO.; CHASE HOME FINANCE, LLC, Defendants-Appellees.

06/21/17

9th Circuit: Assignment in Breach of PSA is Voidable not Void. Here is why they are wrong

Living Lies

9th Circuit: Assignment in Breach of PSA is Voidable not Void. Here is why they are wrong
SAN JUAN, Puerto Rico — Elvis Guzman opened the letter, saw it was in English and took it to his lawyer for translation.

06/21/17

Puerto Rico Grapples With Foreclosure Crisis as Thousands Lose Homes

NBCnews.com

Puerto Rico Grapples With Foreclosure Crisis as Thousands Lose Homes
SAN JUAN, Puerto Rico — Elvis Guzman opened the letter, saw it was in English and took it to his lawyer for translation.

06/19/17

US TREASURY REPORT A GIFT TO WALL STREET, A THREAT TO CFPB AND EVERYONE ELSE

USPirg.org

US TREASURY REPORT A GIFT TO WALL STREET, A THREAT TO CFPB AND EVERYONE ELSE
Last week, the U.S. Treasury Department came out with a report mandated by a Presidential executive order.

06/19/17

Trump plan gives more power to one regulator: Treasury Secretary Steven Mnuchin

Washingtonexaminer.com

Trump plan gives more power to one regulator: Treasury Secretary Steven Mnuchin
The Trump administration's long-awaited recommendations for financial reform would reduce the power of regulators in favor of letting banks operate more freely, with one notable exception: More influence and authority would be given to one regulator, the Treasury secretary.

06/19/17

Trump plan gives more power to one regulator: Treasury Secretary Steven Mnuchin

Washingtonexaminer.com

Trump plan gives more power to one regulator: Treasury Secretary Steven Mnuchin
The Trump administration's long-awaited recommendations for financial reform would reduce the power of regulators in favor of letting banks operate more freely, with one notable exception: More influence and authority would be given to one regulator, the Treasury secretary.

06/19/17

Banking On Wells Fargo: Financial Russian Roulette for Suckers

Occupy.com

Banking On Wells Fargo: Financial Russian Roulette for Suckers
Welcome! Step right up – pull the handle, blow on the dice and have a drink on us... or better yet a Dum Dum lollipop on your way to homelessness.

06/19/17

Refinancing mortgage? Maybe you don’t need that appraisal after all

Miami Herald

Refinancing mortgage? Maybe you don’t need that appraisal after all
Do we always need an appraiser to tell us what a house is worth? The two biggest sources of mortgage financing in the country — Freddie Mac and Fannie Mae — think not. With no formal public announcement, on June 19 Freddie Mac began phasing in its plan to transition to appraisal-free mortgage for certain loan applications.

06/19/17

Investigator Bill Paatalo BlockBuster Finding: WaMu Investor Code “AO1? Revealed – Chase Stipulates It Represents “WaMu Asset Acceptance Corp.”

Living Lies

Investigator Bill Paatalo BlockBuster Finding: WaMu Investor Code “AO1? Revealed – Chase Stipulates It Represents “WaMu Asset Acceptance Corp.”
High praise to Attorney Ron Freshman in San Diego, CA and his paralegal Kimberly Cromwell who recently obtained this remarkable “Stipulation of Fact” from JPMorgan Chase Bank’s counsel.

06/18/17

MOAB: The Mothers of all Bubbles coming to a Town near You

Living Lies

MOAB: The Mothers of all Bubbles coming to a Town near You
Editor’s Note: Right before the housing bubble burst in 2008 the American public was being told by the media and government that the economy was sound. We are now in the 9th year of an artificial recovery. If you look at the real economic indicators, we are at the tipping point that will likely make the 2008 Bubble look like a dress rehearsal for the real thing.

06/16/17

39 million households are paying more for housing than they can afford

CNN.com

39 million households are paying more for housing than they can afford
Nearly 39 million households can't afford their housing, according to the annual State of the Nation's Housing Report from Harvard's Joint Center for Housing Studies.

06/16/17

10 states suffering the most from foreclosures

USA Today

10 states suffering the most from foreclosures
Foreclosures in May were down 19% from the previous year, the 20th straight month of year-over-year declines, according to data released by ATTOM Data Solutions.

06/16/17

What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak

Living Lies

What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak
Since the financial crisis, home equity has gone from being America’s biggest driver of (illusory) wealth to one of the biggest sources of economic inequality.

06/16/17

Senate Judiciary Committee chair wants answers on where all the mortgage settlement money went

Living Lies

Senate Judiciary Committee chair wants answers on where all the mortgage settlement money went
Earlier this month, the Trump administration’s Department of Justice put a stop to an Obama administration tactic of dictating that some companies send settlement funds to unaffiliated third parties, a practice that Republicans criticized as a “slush fund” operation.

06/16/17

Treasury Report Recommends Keeping Data From Consumers

Living Lies

Treasury Report Recommends Keeping Data From Consumers
An agency created to protect the interests of American consumers may be gutted by the Trump administration’s pursuits to cut back federal regulations.

06/16/17

What They Want to Hide Tells You Who They Are

Billmoyers.com

What They Want to Hide Tells You Who They Are
The Treasury Department has released their report on financial regulations they want to scrap. Spoiler alert:

06/16/17

Trump names son’s wedding planner to lead federal housing office

Yahoo News

Trump names son’s wedding planner to lead federal housing office
President Trump has named Lynne Patton, senior adviser during his presidential campaign and former vice president of the Eric Trump Foundation, as the head of federal housing programs in New York.

06/16/17

Cordray fights back against House Republican contempt threat

National Mortgage News

Cordray fights back against House Republican contempt threat
WASHINGTON — A House Financial Services Committee report sharply criticizing the Consumer Financial Protection Bureau’s handling of the Wells Fargo phony-accounts scandal was biased and left out key information, according to Richard Cordray, the agency’s director.

06/15/17

Bankr WD Mo. Rejects 11th Circuit’s Meaning of “Surrender” in §521(a)(2) in Denying Wells Fargo’s Motion to Compel Debtor to Surrender Home

Nacba.org

Bankr WD Mo. Rejects 11th Circuit’s Meaning of “Surrender” in §521(a)(2) in Denying Wells Fargo’s Motion to Compel Debtor to Surrender Home
The court is asked to consider the meaning of the word “surrender” in § 521(a)(2)(A) in an unusual context: where a secured creditor obtains stay relief, fails to timely foreclose, and mistakenly releases its lien, and the debtor who stated she would surrender the real estate attempts to leverage that mistake into a possible windfall.

06/15/17

It’s time to stop blaming poor people for the financial crisis

Washington Post

It’s time to stop blaming poor people for the financial crisis
There's a popular theory of what caused the 2007-2008 housing crisis that goes something like this: The problem started when greedy bankers gave poor people loans to buy houses that lenders knew they couldn't afford.

06/15/17

Nationwide Title Clearing: Custom-made Assignments so you can illegally Foreclose!

Living Lies

Nationwide Title Clearing: Custom-made Assignments so you can illegally Foreclose!
Investigator Bill Paatalo discovered a disturbing article written by Michael O’Connell, the COO for Nationwide Title Clearing, a company that creates tens of thousands of assignments as a third-party contractor.

06/14/17

86 percent of low-income Americans' civil legal issues get inadequate or no legal help, study says

ABA Journal

86 percent of low-income Americans' civil legal issues get inadequate or no legal help, study says
A new report reveals the extent of the “justice gap” experienced by low-income Americans.

06/14/17

Wells Fargo Is Accused of Making Improper Changes to Mortgages

NY Times

Wells Fargo Is Accused of Making Improper Changes to Mortgages
Even as Wells Fargo was reeling from a major scandal in its consumer bank last year, officials in the company’s mortgage business were putting through unauthorized changes to home loans held by customers in bankruptcy, a new class action and other lawsuits contend.

06/14/17

Goodbye to the Consumer Finance Protection Bureau

Bill Moyers

Goodbye to the Consumer Finance Protection Bureau
One of President Trump’s key campaign promises was to dismantle much of the protection put into place after the 2008 financial crisis.

06/14/17

David Dayen: Gorsuch’s First Opinion: Let Debt Collectors Run Amok

Living Lies

David Dayen: Gorsuch’s First Opinion: Let Debt Collectors Run Amok
Justice Neil Gorsuch’s first Supreme Court opinion won’t earn much notice in his biographies. The unanimous decision reads more like a grammatical lesson, scrutinizing one line of text in a decades-old statute.

06/14/17

Consent Order Reveals Multiple Sales of “Title”

Living Lies

Consent Order Reveals Multiple Sales of “Title”
Bill Paatalo wrote me an email (see below) that is actually an article. If you ever thought that the banks were in any way playing by the rules, maybe this article will be the straw that breaks the camel’s back.

06/13/17

THE REAL THREAT TO WALL STREET REFORM IS THE TREASURY DEPARTMENT, NOT CONGRESS

The Intercept

THE REAL THREAT TO WALL STREET REFORM IS THE TREASURY DEPARTMENT, NOT CONGRESS
THE TREASURY DEPARTMENT’S first report recommending changes to the financial regulatory system wildly differs from the plan to dismantle Dodd-Frank that House Republicans passed — and the Trump administration endorsed — just last week.

06/11/17

Rep. Matt Cartwright: Why reopening Wall Street 'casino' wrong choice for Main Street

Mcall.com

Rep. Matt Cartwright: Why reopening Wall Street 'casino' wrong choice for Main Street
When the 2007 financial crisis struck, Wall Street was the epicenter. Big banks tricked Americans into mortgages they couldn't afford through predatory lending practices. Then, they packaged those doomed mortgages into securities, which they traded as triple-A securities, even though they knew they were rotten at the core.

06/09/17

Post-Foreclosure Stress Disorder: Barriers Keeping Buyers from Market

Dsnews.com

Post-Foreclosure Stress Disorder: Barriers Keeping Buyers from Market
U.S. homeownership rates have been at a 50-year low despite improving local job markets and historically low mortgage rates. Research commissioned by the National Association of Realtors (NAR) said there are five main barriers

06/08/17

Breaking Up the Banks Is Easier Than You Might Think

Thenation.com

Breaking Up the Banks Is Easier Than You Might Think
Donald, listen, whatever you’ve done so far, whatever you’ve messed up, there’s one thing you could do that would make up for a lot. It would be huge! Terrific! It could change our world for the better in a big-league way! It could save us all from economic disaster! And it isn’t even hard to grasp or complicated to do. It’s simple, in fact. Reinstitute the Glass-Steagall Act. Let me explain.

06/07/17

Your consumer protections, on the brink of destruction in Congress

NYDailynews.com

Your consumer protections, on the brink of destruction in Congress
When Congress sought to make sure that abuses by the financial industry that put our economy on the brink of collapse would never be repeated, it created the Consumer Financial Protection Bureau. Since its founding in 2011, the CFPB has delivered resoundingly, providing $12 billion in relief to 29 million consumers wronged by banks and other institutions.

06/07/17

Secret Printer Code Could Be Breakthrough for Homeowners

Living Lies

Secret Printer Code Could Be Breakthrough for Homeowners
It seems more likely than not that the fabrications and forgeries of documents used in foreclosure and in trading were ultimately printed on a printer that conformed to Federal requirements. This could identify several facts about the documents that the banks and servicers have been denying for years.

06/06/17

Justice Department Weighs In Against Wells Fargo in a Whistle-Blower Suit

NYTimes.com

Justice Department Weighs In Against Wells Fargo in a Whistle-Blower Suit
Fresh woes for Wells Fargo and a victory for two of its whistle-blowers occurred late Tuesday when the Justice Department filed a friend-of-the-court brief in a lawsuit brought against the bank by two former employees, who were fired after they tried to report misdeeds they had observed to their supervisors.

06/05/17

Ocwen Loses Bid for Early Test of CFPB’s Constitutionality

Bloomberg BNA

Ocwen Loses Bid for Early Test of CFPB’s Constitutionality
A federal judge June 2 blocked Ocwen Financial Corp.’s bid to test the constitutionality of the Consumer Financial Protection Bureau in the early stage of a closely watched enforcement case ( Cons. Fin. Protection Bureau v. Ocwen Fin. Corp. , S.D. Fla., 17-cv-80495, 6/2/17 ).

06/05/17

Collateral & Securitization Failures: There was no Loan in most Refinances

Living Lies

Collateral & Securitization Failures: There was no Loan in most Refinances
Below is a link to a video where GlobalCollateral’s Chief Commercial Officer Ted Leveroni discusses collateral settlement failures and he basically states that the securitization failed. Collateral fail and securitization fail are exactly the same thing.

06/05/17

Does the Trust Even Exist? Probably Not.

Living Lies

Does the Trust Even Exist? Probably Not.
The fact is that many trusts do not exist as “legal persons.” The drafting of an instrument declaring the intent to create a trust does not create a trust until it is signed by a trustor.

06/03/17

GLASS-STEAGALL ACT REDUX INTRODUCED INTO THE SENATE

Clouded Titles Blog

GLASS-STEAGALL ACT REDUX INTRODUCED INTO THE SENATE
For those of you that are interested in the reintroduction of the Glass-Steagall Act (which banned the banks from getting into the securities business) by Democratic Massachusetts Senator Elizabeth Warren, here’s a copy of the latest poop:

06/01/17

The Bankers Behind the Financial Crisis Actually Got Promoted

Vice

The Bankers Behind the Financial Crisis Actually Got Promoted
Millions lost their homes and jobs, and not only did the bankers not go to jail, most of them got new and better gigs, according to a new study.

06/01/17

THE IRONY: OCWEN SUES FIDELITY INFORMATION SERVICES OVER ‘FRAUDULENT, ABUSIVE BILLING SCHEME’

4closurefraud.org

THE IRONY: OCWEN SUES FIDELITY INFORMATION SERVICES OVER ‘FRAUDULENT, ABUSIVE BILLING SCHEME’
Ocwen Financial Corp. has filed a lawsuit in California Superior Court alleging that Fidelity Information Services LLC (FIS) inflated its monthly rate and charged Ocwen for a variety of expenses while serving as its monitor for a 2015 mortgage servicing settlement case.

05/31/17

Peters v. THE BANK OF NEW YORK MELLON | FL 2DCA

Stopforeclosurefraud.com

Peters v. THE BANK OF NEW YORK MELLON | FL 2DCA
– Because the Bank failed to prove its ownership of the lost note that it attempted to reestablish and enforce, we reverse

05/31/17

Document forgery in financial industry more common than you'd think, past employees say

CBC News

Document forgery in financial industry more common than you'd think, past employees say
Employees in Canada's financial industry are speaking out about falsifying documents, telling Go Public that potentially criminal acts — like forging and photocopying customer signatures, adding initials to blank documents and using Wite-Out to conceal information — are more common than most people would think.

05/30/17

From Foreclosure to Eviction: One Family’s Struggle to Recover

KQED

From Foreclosure to Eviction: One Family’s Struggle to Recover
When Vanessa and Richard Bulnes got an eviction notice, it felt sadly ironic. The Bulneses were unable to pay the rent because their corporate landlord took three years to remediate high levels of lead in the backyard soil, which caused Vanessa to lose her business — a family home child care that she had run for more than 20 years.

05/30/17

Court of Appeals hands Wells Fargo victory over Los Angeles in fair housing lawsuit

Housing Wire

Court of Appeals hands Wells Fargo victory over Los Angeles in fair housing lawsuit
Wells Fargo may be facing a lawsuit from the city of Philadelphia over alleged discriminatory lending practices against minority borrowers, but a federal Court of Appeals just handed the bank a victory in a similar lawsuit brought by the city of Los Angeles back in 2013.

05/29/17

David Dayen: HAMP Is Hurting Liberalism

Living Lies

David Dayen: HAMP Is Hurting Liberalism
I wanted to circle back to this point I made on our foreclosure panel that I really do think expresses both the frustration and the danger I and some other commentators are feeling about the situation. Simply put, HAMP is hurting liberalism. It’s putting a face of bureaucratic incompetence on a program designed to help people.

05/28/17

Ready to jump back into the Mortgage Minefield? Take these precautions.

Living Lies

Ready to jump back into the Mortgage Minefield? Take these precautions.
Despite knowing what I know about the corrupt practices of the Federal Reserve, Government sponsored enterprises- Fannie Mae and Freddie Mac; not to mention originators, lenders, trustees, and the banks themselves- I decided the benefits of home ownership outweighed

05/28/17

The Money Trail vs. The Paper Trail Review

Living Lies

The Money Trail vs. The Paper Trail Review
Homeowners trying to receive evidence of the money trail are stonewalled from obtaining the documents that would help them to prove their case and prevail. Discovery is often blocked on ordinary grounds or on the basis of relevance.

05/26/17

Fed violates deployed US Marine despite PHH Mortgage’s Fraudulent Conduct

Living Lies

Fed violates deployed US Marine despite PHH Mortgage’s Fraudulent Conduct
A veteran of four tours of duty in the Middle East, Jacob McGreevey relishes a good fight. When the longtime Marine became convinced his former lender had illegally foreclosed on his Vancouver home, he didn’t hesitate.

05/25/17

California district court upholds constitutionality of CFPB

Justice League

California district court upholds constitutionality of CFPB
A U.S. district court judge in the Central District of California defended the constitutionality of the Consumer Financial Protection Bureau after rejecting multiple challenges to the bureau’s authority to issue civil investigative demands

05/25/17

Foreclosure Mills Don’t Know Their Client

Living Lies

Foreclosure Mills Don’t Know Their Client
So here is “the thing.” In the thousands of cases I have reviewed or been counsel or lead counsel I have yet to encounter a foreclosure mill who actually represents the foreclosing party. They represent the Servicer only. This has slipped out in admissions of counsel on several different occasions so this isn’t some fringe conspiracy theory; it is a fact.

05/24/17

PMI Insurance: Coverage, Overcharges, Kickbacks and Maybe a Duty to Mitigate Losses — and Article 3 Standing in a Nutshell

Living Lies

PMI Insurance: Coverage, Overcharges, Kickbacks and Maybe a Duty to Mitigate Losses — and Article 3 Standing in a Nutshell
Rather than write my own article on RESPA, kickbacks, PMI insurance and “Reinsurance” I will simply quote a 2008 case that basically lays out the doctrines applicable to a claim for treble damages under RESPA

05/23/17

U.S. SUPREME COURT DENIES WRIT IN THE ROBINSON CASE AGAINST MERS!

Cloudedtitlesblog.com

U.S. SUPREME COURT DENIES WRIT IN THE ROBINSON CASE AGAINST MERS!
On May 22, 2017, the United States Supreme Court declined to hear the matter of Daniel and Darla Robinson vs. Mortgage Electronic Registration Systems, Inc. and MERSCORP Holdings, Inc.

05/23/17

Trump budget surprise: Gutting the CFPB

Housing Wire

Trump budget surprise: Gutting the CFPB
The impact of President Donald Trump’s 2018 federal budget proposal would certainly be felt in the housing industry via the 13% cut to the budget of the Department of Housing and Urban Development, but that’s hardly the only impactful move that the budget proposal holds.

05/23/17

John Does, Jane Roes, Trusts and Zuni Trust

Living Lies

John Does, Jane Roes, Trusts and Zuni Trust
Since the banks, servicers, originators, aggregators and others maintain radio silence as to what is going on and who is doing anything it should come as no surprise that lawyers will find it necessary to resort to “placeholder names” because they don’t yet know the actual name of an entity they have figured out must be involved but whose name is being withheld.

05/22/17

Welcome foreclosure relief for N.J. homeowners

NJ.com

Welcome foreclosure relief for N.J. homeowners
If you listen to the Wall Street folks for any length of time, you would think our housing troubles are over. While major housing markets like San Francisco, New York, Las Vegas and Dallas may be getting traction these days, that traction hasn't made it way to many New Jersey communities, especially in South Jersey.

05/21/17

The ChickenShit Club aka The United States Department of Justice

Living Lies

The ChickenShit Club aka The United States Department of Justice
From Pulitzer Prize–winning journalist Jesse Eisinger, a blistering account of corporate greed and impunity, and the reckless, often anemic response from the Department of Justice.

05/21/17

David Dayen Repost: Inside the Abortive FBI Investigation of Illegal Foreclosure in Florida

Living Lies

David Dayen Repost: Inside the Abortive FBI Investigation of Illegal Foreclosure in Florida
The massive probe threatened to implicate the biggest banks in America, but sent just one woman to prison. Six years ago, FBI agents in Jacksonville, Florida, wrote a memo to their bosses in Washington, DC, that could have unraveled the largest consumer fraud in American history.

05/20/17

The story behind the only bank prosecuted after the 2008 financial crisis

Justice League

The story behind the only bank prosecuted after the 2008 financial crisis
After the 2008 financial crisis took millions of investment dollars from Americans, shell shocked financial advisers and briefly turned the country upside down, only one bank was indicted:

05/19/17

Making Assignments in the Dark

Living Lies

Making Assignments in the Dark
Editor’s Note: In this industry article, Nationwide Title Clearing, Inc. insinuates that a bank should obtain a chain of title report before assigning a note to ensure that the manufactured paperwork creates the appearance of a clear chain of title.

05/18/17

Legislative Loophole May Make Foreclosures Easier

Afro.com

Legislative Loophole May Make Foreclosures Easier
Thanks to a new law designed to address blighted and abandoned properties and a growing number of house flippers, it may not take long or much to lose your home in Prince George’s County.

05/16/17

Former Wells Fargo Employee Claims Bank Defrauded Government Of $1.4B In Foreclosure Funding

Consumerist.com

Former Wells Fargo Employee Claims Bank Defrauded Government Of $1.4B In Foreclosure Funding
There has been no shortage of lawsuits filed against Wells Fargo in recent years, from accusations the bank pushed mortgages on borrowers who couldn’t repay them to claims the company pressed employees to engage in fraudulent conduct with regard to customer accounts.

05/16/17

STEVE MNUCHIN’S OLD COMPANY JUST SETTLED FOR $89 MILLION FOR RIPPING OFF THE GOVERNMENT ON DODGY LOANS

TheIntercept.com

STEVE MNUCHIN’S OLD COMPANY JUST SETTLED FOR $89 MILLION FOR RIPPING OFF THE GOVERNMENT ON DODGY LOANS
FOR FOUR YEARS during Treasury Secretary Steven Mnuchin’s tenure as chair of OneWest Bank, its reverse-mortgage subsidiary Financial Freedom ripped off the government by

05/15/17

Philadelphia sues Wells Fargo over discriminatory lending

Housing Wire

Philadelphia sues Wells Fargo over discriminatory lending
Earlier this month, the Supreme Court ruled that cities have the right to sue banks over discriminatory mortgage lending practices, but the ruling established a standard that might be tough for the city in question to prove. Now, one city is going to put that standard to the test.

05/15/17

Is the Number of Foreclosures Going Up or Down?

Living Lies

Is the Number of Foreclosures Going Up or Down?
It depends who you ask, when you ask and where you ask. The Wall Street Banks have been very effective at putting out stories to make it appear that foreclosures are

05/15/17

Default, Foreclosure and the impact on physical and mental health function

Living Lies

Default, Foreclosure and the impact on physical and mental health function
Neuroscientists have concluded that chronic stress and cortisol damage the brain. Although there are no formal studies to date on the health ramifications of default, prolonged litigation, and post-foreclosure trauma,

05/12/17

Lawyer with Responsibility for Mortgage Crisis Appointed to Take Care of Mortgage Banks

Therealnews.com

Lawyer with Responsibility for Mortgage Crisis Appointed to Take Care of Mortgage Banks
Donald Trump is distinguishing himself as a president unconcerned with traditional protocols of running the government - in particular,

05/12/17

MERS ASSIGNMENT FAIL: MORTGAGE ELECTRONIC REGISTRATION SIDESTEPS, INC.

4closurefraud.org

MERS ASSIGNMENT FAIL: MORTGAGE ELECTRONIC REGISTRATION SIDESTEPS, INC.
Over the years we have seen various Assignment Fails such as BOGUS and BAD BENE. Some even had effective dates as 09/09/9999, while others had forged signatures or were put together by someone with very poor Photoshop skills. Today, we present a new variation of a MERS assignment that is polluting land records across the county

05/12/17

They're back: Wells Fargo prepares to issue private-label mortgage bonds

Housing Wire

They're back: Wells Fargo prepares to issue private-label mortgage bonds
Wells Fargo is planning its reentrance into the private mortgage-backed security market for the first time since the financial crisis, a head of the bank’s consumer lending division announced, according to an article by Dan Freed for Reuters.

05/11/17

Miami-Dade has the second highest rate of repeat foreclosures of any major market

Therealdeal.com

Miami-Dade has the second highest rate of repeat foreclosures of any major market
Miami-Dade County has the second-highest rate of repeat foreclosures of any major housing market, topped only by New York City, according to a newly released report from Attom Data Solutions.

05/10/17

Texas orders Ocwen to stop acquiring new mortgage servicing rights

Housing Wire

Texas orders Ocwen to stop acquiring new mortgage servicing rights
The Texas Department of Savings and Mortgage Lending recently ordered Ocwen Financial Corporation to cease and desist, adding its name to a growing list of states and regulators coming after the mortgage servicer over alleged violations of state and federal law.

05/11/17

Miami-Dade has the second highest rate of repeat foreclosures of any major market

Therealdeal.com

Miami-Dade has the second highest rate of repeat foreclosures of any major market
Miami-Dade County has the second-highest rate of repeat foreclosures of any major housing market, topped only by New York City, according to a newly released report from Attom Data Solutions.

05/10/17

Is Appraisal Fraud Still a Valid Claim?

Living Lies

Is Appraisal Fraud Still a Valid Claim?
It should come as no surprise that 10 years after the crash, Bloomberg reports that most U.S. homes are worth less now than before the crash, with many homes worth less than when they were purchased or refinanced long before the crash. Appraisal fraud was thus institutionalized to the dismay of the licensed appraisers and subsequent “drive-by” appraisals done by real estate agents. The question is whether this fraud is NOW actionable. I think it is.

05/10/17

“Illegal Loans”

Living Lies

“Illegal Loans”
Lots of loans have provisions that are illegal. As far as I know the only illegal provision of a loan that could make debt, note and mortgage go away, i.e., becomes void in its entirety (versus the provision containing the illegal language), or that entitles the borrower to recover all his payments or more is a usury statute in a state where the statute specifically provides that remedy.

05/09/17

What’s really going on between Goldman Sachs and the federal government?

NYpost.com

What’s really going on between Goldman Sachs and the federal government?
Just for laughs, let’s start out with this idea — that Goldman Sachs acts as an agent of the federal government. Let’s see if I can persuade you.

05/09/17

Elizabeth Warren's preferred SEC nominee is married to an attorney at the big banks' go-to law firm

Washingtonexaminer.com

Elizabeth Warren's preferred SEC nominee is married to an attorney at the big banks' go-to law firm
Sen. Elizabeth Warren's pick as a new financial regulator is a staffer of hers married to an attorney at a firm representing the very big banks he would regulate, and whom Warren loves to chastise.

05/09/17

How Homeownership Became the Engine of American Inequality

NYtimes.com

How Homeownership Became the Engine of American Inequality
An enormous entitlement in the tax code props up home prices — and overwhelmingly benefits the wealthy and the upper middle class.

05/09/17

Brooklyn Court Quietly Moves to Toss Out Hundreds of Foreclosure Cases

Justiceleaguetaskforce

Brooklyn Court Quietly Moves to Toss Out Hundreds of Foreclosure Cases
BROOKLYN — Kings County Supreme Court is about to quietly dismiss thousands of foreclosure cases on Tuesday — in what lawyers say will deal a severe blow to homeowners with pending cases.

05/09/17

MERS wins in four Pennsylvania county lawsuits

Justiceleaguetaskforce

MERS wins in four Pennsylvania county lawsuits
The Commonwealth Court of Pennsylvania, by a majority opinion, ruled in MERS’favor in four lawsuits filed by the Recorders of four Pennsylvania Counties (Delaware, Berks, Bucks and Chester), locking in another victory for the company.

05/08/17

Why Republicans Want to Declaw the Nation’s Consumer Financial Watchdog Agency

NBCnews.com

Why Republicans Want to Declaw the Nation’s Consumer Financial Watchdog Agency
A new bill aims to dismantle the powers of the Consumer Financial Protection Bureau, the independent watchdog that protects consumers and investors and has saved Americans almost $12 billion since it was created six years ago.

05/08/17

Reverse Mortgage Solutions, Inc. v. Estate of Ruby Hayes

Stopforeclosurefraud.com

Reverse Mortgage Solutions, Inc. v. Estate of Ruby Hayes
Florida Supreme Court gift to Banksters … BACKFIRES. Statute of Limitations ruled VALID with REVERSE MORTGAGES. Death do you proud.

05/07/17

CHAIN OF TITLE: A NO TRESPASSING SIGN IN FRONT OF A FORECLOSURE

4closurefraud.org

CHAIN OF TITLE: A NO TRESPASSING SIGN IN FRONT OF A FORECLOSURE
DAVID DAYEN’S CHAIN OF TITLE CONFIRMS WHAT YOU ALWAYS SUSPECTED: THE GAME IS RIGGED Chain of Title should be required reading in every college-level business ethics class in America.

05/07/17

Repeat foreclosures in the city have reached an all-time high

nypost.com

Repeat foreclosures in the city have reached an all-time high
New York homeowners are in default mode — again. The city leads the nation in repeat foreclosure filings And the winner in all this is the residential mortgage servicing industry, which collects monthly payments and cashes in on fees for every homeowner’s misfortune.

05/06/17

CFPB to Assess RESPA Mortgage Servicing Rule Effectiveness

Living Lies

CFPB to Assess RESPA Mortgage Servicing Rule Effectiveness
The Consumer Financial Protection Bureau (CFPB) is planning to assess the effectiveness of the Real Estate Settlement Procedures Act (RESPA) mortgage servicing rule.

05/05/17

CitiBank Whisteblower Richard Bowen: They’re Back! Fannie and Freddie Ride Again

Living Lies

CitiBank Whisteblower Richard Bowen: They’re Back! Fannie and Freddie Ride Again
It looks as if Fannie Mae and Freddie Mac have not learned from their previous enabling of banks leading to the financial crisis. In fact, it looks as if the two are still using the same business model;

05/04/17

Don’t Forget FOIA Requests — Info on Bidding and Title

Living Lies

Don’t Forget FOIA Requests — Info on Bidding and Title
Hat Tip to George Riley George sent in a Freedom of Information Act (FOIA) request to the Veterans Administration (VA) seeking information on who was the creditor and what role the VA had in connection with his loan. What he found was a “new version of the note,” and the fact that Wells Fargo who foreclosed received title to the property and then paid the VA the exact amount of their “credit bid”. While not completely dispositive of the issue this shows that the VA was in fact the creditor and that representations from Wells Fargo that they were the owner of the loan were false.

05/04/17

Worcester woman allegedly faces 10th eviction attempt in 2 years

Masslive.com

Worcester woman allegedly faces 10th eviction attempt in 2 years
Marjorie Evans was nearly in tears as she watched repo men, police officers and locksmiths converge on her Worcester home Thursday morning.

05/02/17

Eleven Lowlights in the Wrong CHOICE Act

National Association of Consumer Advocates (NACA)

Eleven Lowlights in the Wrong CHOICE Act
Congress is considering a bill called the “Financial CHOICE Act,” (H.R. 10), a dreadful proposal that promises to threaten Americans’ economic security, reminiscent of the destruction caused by the 2008 financial crisis. The bill is sponsored by U.S. House Financial Services Committee Chairman Jeb Hensarling of Texas.

05/02/17

Congress Is About To Confirm Another Former Goldman Sachs Honcho For Trump

Huffpost

Congress Is About To Confirm Another Former Goldman Sachs Honcho For Trump
WASHINGTON ? The Senate on Monday cleared the way to confirm Jay Clayton as chairman of the Securities and Exchange Commission, making a Wall Street power lawyer one of the nation’s top financial regulators.

05/02/17

FannieGate: Obamacare Looting Scheme by diverting Fannie and Freddie Funds

Living Lies

FannieGate: Obamacare Looting Scheme by diverting Fannie and Freddie Funds
Steve Mnuchin stated Monday on Fox News that President Obama engineered the “Net Worth Sweep” (NWS) in August 2012 to divert funds from the two Government Sponsored Entities (GSEs) to pay for Obamacare, after Congress refused to fund the low-income insurance subsidies critical to keep afloat the Affordable Care Act (ACA).

05/02/17

H.R. 1694 Passes: Fannie and Freddie Open Records Act of 2017

Living Lies

H.R. 1694 Passes: Fannie and Freddie Open Records Act of 2017
Last week H.R. 1694 passed in the House of Representatives. This bill will make Fannie Mae and Freddie Mac subject to the requirements of the Freedom of Information Act, which would make their records available to the public on request.

05/01/17

Radian Whistle Blower Get Snubbed for Revealing False Reporting

Living Lies

Radian Whistle Blower Get Snubbed for Revealing False Reporting
What happens to the “loan” when Radian (or some other loan insurer) pays all or part of the loan? This runs to the nub of the fraudulent scheme based on false claims of securitization. If Radian paid off whoever is claiming the right to foreclose on your property then NORMALLY your liability would remain the same, now due to Radian (or Radian and the forecloser, in the event of partial payment).

05/01/17

Supreme Court rules cities can sue banks for predatory lending

Housingwire.com

Supreme Court rules cities can sue banks for predatory lending
The Supreme Court handed down a landmark ruling, stating cities can sue banks for discriminatory mortgage lending practices, but cautioned that the burden of proof could be difficult to achieve.

04/29/17

Ocwen takes Massachusetts, Illinois to court to fight mortgage restrictions

PiggyBankBlog.com

Ocwen takes Massachusetts, Illinois to court to fight mortgage restrictions
This is a .housingwire.com article. Nonbank says that states’ restrictions will cause “significant harm” to consumers. Last week, a raft of state regulators clamped new business restrictions on Ocwen Financial for alleged rampant errors with homeowners’ escrow accounts and other issues at the nonbank

04/28/17

A Whistle Was Blown, but Who Was Listening?

NYTimes.com

A Whistle Was Blown, but Who Was Listening?
The Securities and Exchange Commission calls itself the whistle-blower’s advocate. But one participant in the agency’s lauded whistle-blower program isn’t so sure.

04/28/17

Florida Attorney Mark Stopa: The party seeking foreclosure must demonstrate that it has standing to foreclose.

Living Lies

Florida Attorney Mark Stopa: The party seeking foreclosure must demonstrate that it has standing to foreclose.
PATRICK WALSH AND CATHERINE WALSH, Appellants, v. BANK OF NEW YORK MELLON TRUST, ETC., ET AL., Appellees. Case No. 5D15-1898.District Court of Appeal of Florida, Fifth District.

04/27/17

Richard Bowen: Is the Fed Really Interested In Protecting Consumers or Is It just Lip Service?

Living Lies

Richard Bowen: Is the Fed Really Interested In Protecting Consumers or Is It just Lip Service?
Eric Ben Artzi … is a former risk officer at Deutsche Bank. Mr. Ben-Artzi was one of three former Deutsche Bank employees turned whistleblowers who in 2010-2011 notified regulators of improper accounting at Deutsche. What was discovered resulted in a five-year investigation and a $55 million settlement

04/24/17

Powell v. WELLS FARGO BANK, NA | FL 4DCA

Stopforeclosurefraud.com

Powell v. WELLS FARGO BANK, NA | FL 4DCA
– neither party disputes the validity of the special indorsement appearing on the allonge filed with the original complaint, the Bank was required to prove a chain of transfers starting with the indorsee, GreenPoint Mortgage.

04/22/17

David Dayen: The CFPB Just Sued a Crooked Mortgage Servicer, but Indicted Itself

Living Lies

David Dayen: The CFPB Just Sued a Crooked Mortgage Servicer, but Indicted Itself
n December 2013, the Consumer Financial Protection Bureau and 49 states issued a $2.1 billion consent order against Ocwen, one of America’s largest mortgage companies, for “violating consumer financial laws at every stage of the mortgage servicing process.” Three and a half years later

04/21/17

Here's a detailed breakdown of Ocwen's new restrictions by state

Housing Wire

Here's a detailed breakdown of Ocwen's new restrictions by state
The servicing issues at Ocwen Financial are allegedly so widespread that some states are placing stricter restrictions on the nonbank, beyond freezing the company’s ability to acquire new mortgage servicing rights.

04/21/17

Elizabeth Warren on Big Banks and Their (Cozy Bedmate) Regulators

New York Times

Elizabeth Warren on Big Banks and Their (Cozy Bedmate) Regulators
Wells Fargo’s board and management are scheduled to meet shareholders at the company’s annual meeting Tuesday in Ponte Vedra Beach, Fla. With the phony account-opening scandal still making headlines, and

04/20/17

CFPB sues Ocwen, alleges total failure of mortgage servicing process

Housng Wire

CFPB sues Ocwen, alleges total failure of mortgage servicing process
April 20, 2017 is turning into D-Day for Ocwen Financial. On Thursday, a group of state banking regulators issued a series of cease-and-desist orders to Ocwen that prohibit the acquisition of new mortgage servicing

04/19/17

Securitization May Create Securities Out of Loans and MBS

Living Lies

Securitization May Create Securities Out of Loans and MBS
There is an untested theory that could have significant impact if it was attempted by experienced securities counsel. The foundation lies in the way that mortgage loans were sold first to consumers as loan products and then traded in the secondary and tertiary markets as “investments.”

04/17/17

A Bank Even a Socialist Could Love

InTheseTimes.com

A Bank Even a Socialist Could Love
“Money is a utility that belongs to all of us,” says Walt McRee. McRee is a velvety-voiced former broadcaster now plotting an audacious challenge to the financial system.

04/14/17

Citi continues moving away from mortgages as originations plummet

Living Lies

Citi continues moving away from mortgages as originations plummet
Citigroup first-quarter earnings show that the bank is continuing to move further and further away from mortgages and into other lines of business (The bigger question is why is Citi moving away from originating and servicing consumer mortgages).

04/13/17

Wall Street’s House of Cards: Let’s Play Bankster Three Card Monte

Occupy.com

Wall Street’s House of Cards: Let’s Play Bankster Three Card Monte Welcome to another edition of “Homeowner Hunger Games.” Step right up ladies and gentlemen! Try to beat the house if you dare! Keep your eye on the queen and show me the green – put up your money, you’ve got this! You may already be a winner. Fill in that paper work. We’re here to help!

04/13/17

The Saga of Wells Fargo – Are Banks Reaping What They Sow?

Living Lies

The Saga of Wells Fargo – Are Banks Reaping What They Sow?
Recent headlines bowled me over: Wells Fargo being forced to reinstate employees – whistleblowers – who reported the ethics issues to their superiors, and pay their back pay! Their Board of Directors report decision laying the responsibility of the 2 million plus unauthorized bank and credit accounts on the bank’s former CEO

04/12/17

Edmonds v. US Bank National Association | FL 2DCA

Stopforeclosurefraud.com

Edmonds v. US Bank National Association | FL 2DCA
– Because the appellees failed to establish that notice of default was given as required by paragraph 22 of the mortgage

04/11/17

Hawaii Attorney Gary Dubin: Ten Most Important Ways of Surviving the Rule Ritual in Foreclosure Summary Judgment Proceedings

Living Lies

Hawaii Attorney Gary Dubin: Ten Most Important Ways of Surviving the Rule Ritual in Foreclosure Summary Judgment Proceedings
Attorney Gary Dubin’s Foreclosure Workshop: An Updated Working Checklist of the Ten Most Important Ways of Surviving the Rule Ritual in Foreclosure Summary Judgment Proceedings

04/11/17

The damning 2004 report that Wells Fargo chose to ignore

Stopforeclosurefraud.com

The damning 2004 report that Wells Fargo chose to ignore
An internal Wells Fargo report prepared 12 years ago — in August 2004 — eerily foretold the fake account scandal that has recently shaken Wells Fargo to its core.

04/10/17

Bank of America, N.A. v. Reyes-Toledo

JUSTIA USLaw

Bank of America, N.A. v. Reyes-Toledo
Bank of America, N.A. filed a complaint seeking to foreclose on Homeowner’s property. Homeowner asserted numerous defenses, including

04/10/17

Wells Fargo v Lang | NYSC

Stopforeclosurefraud.com

Wells Fargo v Lang | NYSC
– $480,000 Mortgage Declared Time-Barred, Foreclosure Dismissed with Prejudice.

04/08/17

New York Law: New Requirement on Lenders in Foreclosure Process Is Constitutional

Living Lies

New York Law: New Requirement on Lenders in Foreclosure Process Is Constitutional
A new law in New York that says lenders’ legal representatives must bring all the necessary documentation to foreclosure settlement conferences with mortgage holders has been upheld by a judge.

04/07/17

Lessons to Learn About Mortgage Lawsuits from First Circuit Decision

Culiklaw.com

Lessons to Learn About Mortgage Lawsuits from First Circuit Decision
Many important principles of mortgage and foreclosure law are dealt with in a recent case from the First Circuit Court of Appeals, the federal appeals court covering Massachusetts.

04/07/17

A Federal Reserve Bank Ignored Insider Trading Investigation When Re-Appointing Its President

Theintercept.com

A Federal Reserve Bank Ignored Insider Trading Investigation When Re-Appointing Its President
NEW DOCUMENTS OBTAINED by a Federal Reserve watchdog group suggest that the Federal Reserve Bank of Richmond’s board of directors may have known that its president was under federal investigation when the board re-appointed him to a new term.

04/07/17

Subscribe to David Dayen’s Newsletter

Living Lies

Subscribe to David Dayen’s Newsletter
David Dayen, author of the book Chain of Title, has launched a newsletter. If you are a fan of David Dayen, who has been instrumental in bringing foreclosure fraud issues to the national level, subscribe here:

04/07/17

Michigan Foreclosure King Republican David Trott of MI-11 introduces bill to enrich his foreclosure business

Living Lies

Michigan Foreclosure King Republican David Trott of MI-11 introduces bill to enrich his foreclosure business
Republican Congressman David Trott from Michigan’s 11th Congressional District has a long and sordid history profiting from the “human misery” caused when his foreclosure business threw victims of the Bush Recession out of their homes. He didn’t just run a foreclosure-based law firm. He created a vertically integrated machine to ensure that he got profit every step of the way:

04/07/17

May v Nationstar Mortgage: Reckless Indifference resulting in Mental Anguish results in 500k punitive damages award

Living Lies

May v Nationstar Mortgage: Reckless Indifference resulting in Mental Anguish results in 500k punitive damages award
Jeannie K. May, Plaintiff-Appellee,
v.
Nationstar Mortgage, LLC, Defendant-Appellant.
Jeannie K. May, Plaintiff-Appellant,
v.
Nationstar Mortgage, LLC, Defendant-Appellee.

04/07/17

Republicans accuse CFPB of dawdling on Wells Fargo probe

Piggy Bank Blog

Republicans accuse CFPB of dawdling on Wells Fargo probe
Republican lawmakers escalated their accusations that the Consumer Financial Protection Bureau was slow to start investigating allegedly fraudulent sales practices at Well Fargo & Co., saying the agency joined in well after other regulators.

04/06/17

7th Cir. Rejects Borrower’s Claims Against Mortgagee, Other Parties Under Rooker-Feldman

Lexology.com

7th Cir. Rejects Borrower’s Claims Against Mortgagee, Other Parties Under Rooker-Feldman
The U.S. Court of Appeals for the Seventh Circuit recently affirmed the dismissal of a borrower’s lawsuit against his mortgagee, its former employees, counsel and appellate counsel, and the original mortgagee’s software platform creator, under various federal and state consumer protection statutes and common law torts.

04/06/17

Trump wants to cut off poor people’s legal lifeline

Thinkprogress.org

Trump wants to cut off poor people’s legal lifeline
Without legal aid, there will be little assistance for those facing eviction, domestic violence, or huge amounts of debt.

04/06/17

FANNIE MAE: Lenders are advised that steps are being taken to suspend use of the “MERS as Original Mortgagee”

Stopforeclosurefraud.com

FANNIE MAE: Lenders are advised that steps are being taken to suspend use of the “MERS as Original Mortgagee”
FANNIE MAE: Lenders are advised that steps are being taken to suspend use of the “MERS as Original Mortgagee” authorized change to the Maine security instrument (Form 3020)

04/06/17

Fed's Kashkari says JPMorgan's Jamie Dimon is dead wrong about banks

CNBC.com

Fed's Kashkari says JPMorgan's Jamie Dimon is dead wrong about banks
Minneapolis Fed President Neel Kashkari is taking on the financial world's perhaps most well-known and powerful name — JPMorgan Chase CEO Jamie Dimon, whom the central bank official said recently made "demonstrably false" statements about the industry.

04/05/17

BLACKROCK ALLOCATION TARGET SHARES: SERIES S PORTFOLIO v. WELLS FARGO BANK, N.A. | SDNY

Stopforeclosurefraud.com

BLACKROCK ALLOCATION TARGET SHARES: SERIES S PORTFOLIO v. WELLS FARGO BANK, N.A. | SDNY
– Plaintiffs claim that Defendant discovered pervasive documentation errors, breaches of seller representations and warranties (“R&Ws”), and systemic loan-servicing violations, but disregarded its contractual obligations to protect Plaintiffs therefrom because, among other consequences, doing so would have exposed Defendant to liability for its own RMBS-related misconduct

04/05/17

Republicans attack consumer financial watchdog as they push for his firing

LATimes.com

Republicans attack consumer financial watchdog as they push for his firing
The chairman of a powerful House committee welcomed the nation’s top consumer financial watchdog to a hearing Wednesday by expressing surprise he showed up, and hoped he never does so again.

04/04/17

Despite Trump's claims, bank regulation hasn't slowed lending

CNBC.com

Despite Trump's claims, bank regulation hasn't slowed lending
Foreclosure victims have been virtually invisible in Washington since the financial crisis. But they may finally get an ally.

04/04/17

May v. NATIONSTAR MORTGAGE, LLC | 8th Cir.

Stopforeclosurefraud.com

May v. NATIONSTAR MORTGAGE, LLC | 8th Cir.
Foreclosure victims have been virtually invisible in Washington since the financial crisis. But they may finally get an ally. – $500k Damages – Evidence that Nationstar acted with a reckless indifference to her rights is legally sufficient to establish the requisite mental state to support the punitive damages awarded by the jury

04/04/17

AN ENEMY OF THE WALL STREET FORECLOSURE MACHINE IS RUNNING TO UNSEAT A GOP LAWMAKER IN CALIFORNIA

The Intercept

AN ENEMY OF THE WALL STREET FORECLOSURE MACHINE IS RUNNING TO UNSEAT A GOP LAWMAKER IN CALIFORNIA
Foreclosure victims have been virtually invisible in Washington since the financial crisis. But they may finally get an ally. Katie Porter, a University of California-Irvine professor and public interest lawyer who authored one of the first academic studies of foreclosure fraud, and who helped thousands of California homeowners as a monitor of the national foreclosure fraud settlement, announced yesterday that she will run for Congress in California’s 45th Congressional district, against two-term Republican incumbent Mimi Walters.

04/03/17

Katie Porter, California mortgage settlement monitor and Warren protégé, running for Congress

Housing Wire

Katie Porter, California mortgage settlement monitor and Warren protégé, running for Congress
The coming battle for control of Congress in 2018 has a new combatant, one that would bring significant experience in the mortgage space to the House of Representatives.

04/03/17

Allen v. WILMINGTON TRUST, NA | FL 2DCA

Stopforeclosurefraud.com

Allen v. WILMINGTON TRUST, NA | FL 2DCA
– the Trust did not meet its burden of proving it satisfied the condition precedent of giving notice of acceleration

04/03/17

Wells Fargo faces another Investor lawsuit over defective mortgage securities

Living Lies

Wells Fargo faces another Investor lawsuit over defective mortgage securities
Too Big to Fail behemoth Wells Fargo faces another lawsuit over faulty residential mortgage-backed securities. As investors become aware of the fraudulent securities purchased, more lawsuits are sure to be ignited.

04/03/17

District Judge in NY Knocks down Attempt to Avoid Statute of Limitations

Living Lies

District Judge in NY Knocks down Attempt to Avoid Statute of Limitations
Ten years have expired since the alleged “default” occurred. Without any other action the maintenance of the property has been paid by somebody through the conduit of an alleged servicer probably using investor funds without investors knowing anything about it. Now suddenly someone, actually ANYONE, wants a judgment of foreclosure. They want a judgment for “unjust enrichment” as if that wasn’t rubbing salt in the wound of their incredibly wrongful foreclosure in the first instance.

04/03/17

Florida Supreme Court dismisses motion for rehearing in case concerning Florida Statute of Limitations

Living Lies

Florida Supreme Court dismisses motion for rehearing in case concerning Florida Statute of Limitations
Last week a Manhattan court ruled in Costa v. Deutsche Bank that Deutsche Bank had failed to foreclose within the six year window and was therefore barred from collecting the debt. In the same week, the Florida Supreme Court denied a motion for rehearing in Bartram v. U.S. Bank regarding the statute of limitations in foreclosure cases, therefore ruling that there is no statute of limitation on mortgage debt in Florida.

04/03/17

Understanding Consumer Experiences: Insights from CFPB’s 2016 Consumer Response Annual Report

CFPB

Understanding Consumer Experiences: Insights from CFPB’s 2016 Consumer Response Annual Report
Since beginning to accept consumer complaints more than five years ago, we have handled approximately 1,136,000 complaints. The insights we get from the questions consumers ask and the complaints they submit help us to better understand the problems consumers experience in the financial marketplace.

03/31/17

Elderly woman tries to make sense of eviction from longtime home

SFchronicle.com

Elderly woman tries to make sense of eviction from longtime home
Three weeks ago, Dorothy DeBose was given 10 minutes to vacate the house she’s lived in for most of her life.

03/31/17

How a Cruel Foreclosure Drove a Couple to the Brink of Death

Vice.com

How a Cruel Foreclosure Drove a Couple to the Brink of Death
A married couple resorted to self-harm after being physically and psychologically terrorized by Bank of America over their house—until a judge fined the bank $46 million.

03/31/17

Wells Fargo must face litigation on defective mortgages: U.S. judge

Reuters.com

Wells Fargo must face litigation on defective mortgages: U.S. judge
A federal judge on Thursday said Wells Fargo & Co (WFC.N) must face litigation seeking to hold it responsible for billions of dollars of claimed investor losses stemming from its alleged failures as a trustee overseeing risky residential mortgage-backed securities.

03/30/17

Schneiderman keeps foreclosure prevention program afloat with $10M infusion

Therealdeal.com

Schneiderman keeps foreclosure prevention program afloat with $10M infusion
New York Attorney General Eric Schneiderman will provide $10 million to keep a foreclosure-prevention service afloat until next year.

03/30/17

Law deans were unaware of judge's largesse in wrongful foreclosure case

ABAJournal.com

Law deans were unaware of judge's largesse in wrongful foreclosure case
Some law deans were surprised to learn that a federal bankruptcy judge had decided to give their schools $4 million each in punitive damages awarded in a California couple’s wrongful foreclosure case against Bank of America.

03/28/17

Sundquist v. Bank of America: $45 Million for violations of Automatic Stay

Living Lies

Sundquist v. Bank of America: $45 Million for violations of Automatic Stay
In most cases, the damages awarded to homeowners are so paltry that they do little to punish unlawful conduct or to deter future behavior by servicers. The banks continue their crime spree unabated. Those days may be over. A bankruptcy court in Sacramento, California recently...

03/28/17

ONCE MERS ENTERS THE PICTURE, YOU’VE GOT ISSUES!

CloudedTitlesBlog.com

ONCE MERS ENTERS THE PICTURE, YOU’VE GOT ISSUES!
I just received an email from a reader who is worried about the mess his daughter and son-in-law got themselves into with the purchase of their new home using a MERS-originated mortgage (MOM) … after writing a response to him, I decided to put my answer on this blog for the benefit of others who think that having a MERS mortgage is “no big deal”. He even talked to a little old lady in John O’Brien’s office up in Salem, Massachusetts who acted like it was no big deal that MERS was involved.

03/25/17

Eric Mains: “Acceptable Casualties”

Living Lies

Eric Mains: “Acceptable Casualties”
At the request of Eric Mains, former FDIC employee, I am publishing his comments on the foreclosure situation and the the banking crisis. ACCEPTABLE CASUALTIES

03/22/17

Phil Murphy just unveiled a plan to make Wall St. clean up N.J. home foreclosures

NJ.com

Phil Murphy just unveiled a plan to make Wall St. clean up N.J. home foreclosures
Is New Jersey's sky-high foreclosure rate actually the answer to its affordable housing crisis? Phil Murphy thinks so. The Democratic front-runner for governor has unveiled a new plan he says would take New Jersey from first in the nation in foreclosures to near first in the nation for affordable housing, courtesy of Wall Street's banks.

03/22/17

MERS Ownership Intentionally Obfuscated

Living Lies

MERS Ownership Intentionally Obfuscated
In an ongoing California Appeal (that will go unnamed at this time), a homeowner’s attorney obtained a routine MERS corporate disclosure statement in response to an opening appellate brief he had filed. The attorney shared the disclosure statement with a colleague in Hawaii who noticed that MERS claimed it was owned by its holding company who was owned by

03/21/17

9th Circuit Opens Door to Modification Fraud and RESCISSION: Oskoui v Chase

Living Lies

9th Circuit Opens Door to Modification Fraud and RESCISSION: Oskoui v Chase
I have had many judges express their concerns privately and publicly. They all point to two main things that disturbs them. One is the apparent randomness of modifications and the other is the pattern of musical servicers that change regularly. They worry that this indicates something deeper is going on but that homeowners and their lawyers are not concentrating on these factors.

03/21/17

This Lawmaker Just Gave the Perfect Defense of a Consumer Watchdog the GOP Is Trying to Kill

Time.com

This Lawmaker Just Gave the Perfect Defense of a Consumer Watchdog the GOP Is Trying to Kill
A Democratic lawmaker slammed opponents of a federal consumer watchdog Tuesday, denouncing them for promoting big business interests while hiding behind a pretense of constitutional concerns.

03/21/17

NY Fed president compares Wells Fargo fake account scandal to subprime mortgage crisis

Housing Wire

NY Fed president compares Wells Fargo fake account scandal to subprime mortgage crisis
The president of the Federal Reserve Bank of New York told the Banking Standards Board in London on Tuesday that he sees quite a few similarities between the Wells Fargo fake account scandal and the subprime mortgage crisis of the late 2000’s...

03/18/17

Why would Goldman Sachs buy Delinquent and Defective Mortgages?

Living Lies

Why would Goldman Sachs buy Delinquent and Defective Mortgages?
Just last year Goldman Sachs entered into settlements with state and federal governments over the sale of toxic mortgage backed securities to investors while subsequently shorting the very same securities they were selling...

03/17/17

How ‘Consumer Relief’ After Mortgage Crisis Can Enrich Big Banks

NYTimes.com

How ‘Consumer Relief’ After Mortgage Crisis Can Enrich Big Banks
In every multibillion dollar settlement with a big bank that peddled faulty mortgage securities, a major provision has been a requirement that the bank provide “consumer relief.”...

03/17/17

ATTOM: Foreclosure activity hits 11-year low

Living Lies

ATTOM: Foreclosure activity hits 11-year low
But foreclosure starts increased in 15 states...

03/16/17

Suffolk County Launches Foreclosure Prevention Hotline

WSHU.org

Suffolk County Launches Foreclosure Prevention Hotline
Suffolk County Executive Steve Bellone has unveiled a Foreclosure Prevention Hotline to help alleviate the number of foreclosures in the county. The hotline will connect residents with free resources and services to help them prevent foreclosures...

03/16/17

Bailee Letter Shows LPS is Central to Data Records

Living Lies

Bailee Letter Shows LPS is Central to Data Records
Based upon my analysis I concluded years ago that there were (a) no creditors and (b) virtually no actual servicers. The servicers and the Trusts and the so-called beneficiaries under a deed of trust are all manifestations of an illusion created by Wall Street...

03/15/17

Save the federal consumer watchdog: The CFPB protects us all

NYDailyNews.com

Save the federal consumer watchdog: The CFPB protects us all
President Trump’s determination to eviscerate the Consumer Financial Protection Bureau proves that he prioritizes the coffers of the megabanks over the pocketbooks of the Americans he vowed to defend during his campaign...

03/14/17

Your Wallet Will Suffer If This Agency Is Gutted

NerdWallet.com

Your Wallet Will Suffer If This Agency Is Gutted
The Consumer Financial Protection Bureau has saved Americans $12 billion, but many businesses and congressional conservatives want to eliminate it...

03/14/17

Deception of the Day: Fannie Mae Announces “Winners” of its Latest Non-Performing Loan Sale

Living Lies

Deception of the Day: Fannie Mae Announces “Winners” of its Latest Non-Performing Loan Sale
Editor’s note: There are no “winners” when it comes to the purchase of Fannie Mae’s non-performing loans. These loans, in the majority of cases, were never delivered to the trusts and often require the fabrication of notes and assignments to create the illusion of legitimacy. Fannie Mae, the quasi-governmental lender, is well aware that these loans are...

03/14/17

Higher credit scores are on the way, thanks to new standards

CNBC

Higher credit scores are on the way, thanks to new standards
Consumers may be one step closer to a higher credit score. A recent report by the Consumer Financial Protection Bureau outlined...

03/14/17

The End of Make Home Affordable aka the Modification Hell Act

Living Lies

The End of Make Home Affordable aka the Modification Hell Act
The Making Home Affordable (MHA) program did what it intended to do- it Greased the Runways so unsuspecting homeowners operating in good faith would be forced into default...

03/14/17

DEFENSE ATTORNEY SAYS JUDGES KNOWINGLY CREATE FORECLOSURES IN FAMILY COURT

Pennsylvaniabulletin.com

DEFENSE ATTORNEY SAYS JUDGES KNOWINGLY CREATE FORECLOSURES IN FAMILY COURT
Speaking on guarantee of anonymity, an attorney who does pro bono legal work says that the court system in Pennsylvania, is the precise cause of many foreclosures...

03/14/17

Carty v. Bank of America, NA | FL 4DCA

Stopforeclosurefraud.com

Carty v. Bank of America, NA | FL 4DCA
a genuine issue of material fact was created by the two different versions of the note filed by the appellee bank...

03/14/17

Dave Krieger’s Clouded Titles: MISSOURI SUPREME COURT UPHOLDS SANCTIONS AGAINST WELLS FARGO!

Living Lies

Dave Krieger’s Clouded Titles: MISSOURI SUPREME COURT UPHOLDS SANCTIONS AGAINST WELLS FARGO!
Whether you’ve caught wind of this or not, Missouri Attorney Greg Leyh will have a shot in front of a rural Missouri county jury to convince them that Wells Fargo’s (and others’) actions in wrongfully foreclosing against David and Crystal Holm of Clinton County warrant serious money damages...

03/14/17

Justice Sweeney talks building blocks of foreclosures at Columbian Lawyers meeting

Brooklyn Daily Eagle

Justice Sweeney talks building blocks of foreclosures at Columbian Lawyers meeting
The Columbian Lawyers Association hosted Justice Peter Sweeney and attorney Joseph Etra for a continuing legal education (CLE) seminar, “The Building Blocks of Foreclosures,” ...

03/10/17

Trump’s Plan on Fannie and Freddie? Clues May Emerge Soon

NY Times

Trump’s Plan on Fannie and Freddie? Clues May Emerge Soon
Fixing Fannie Mae and Freddie Mac, the mortgage finance giants that still operate under government supervision, is nowhere near the top of the Trump administration’s to-do list....

03/10/17

LivingLies Foreclosure Survey Results: Delay, Defend and Destroy

Living Lies

LivingLies Foreclosure Survey Results: Delay, Defend and Destroy
Several weeks ago we asked our readers to take a brief survey. The results are revealing and expose an egregious pattern of fraud and abusive lending practices...

03/10/17

GOP marks National Consumer Protection Week by voting to 'obliterate' class-action lawsuits

LA Times

GOP marks National Consumer Protection Week by voting to 'obliterate' class-action lawsuits
Te Republican-controlled House voted late Thursday to approve the Fairness in Class Action Litigation Act, which purports to protect consumers but does the opposite by making it harder for people to join class-action lawsuits...

03/09/17

How 90% of American Households Lost an Average of $17,000 in Wealth to Plutocrats in 2016

BillMoyers.com

How 90% of American Households Lost an Average of $17,000 in Wealth to Plutocrats in 2016
America has always been great for the richest 1 percent, and it’s rapidly becoming greater. Confirmation comes from recent work by...

03/09/17

Nationstar facing CFPB fine over HMDA violations

Housing Wire

Nationstar facing CFPB fine over HMDA violations
Nationstar Mortgage is facing a fine from the Consumer Financial Protection Bureau over the nonbank’s alleged failure to comply with the reporting requirements of the Home Mortgage Disclosure Act...

03/09/17

Mortgage Resolution Servicing, LLC (“MRS”) v JP Morgan Chase | Amended RICO Statement

stopforeclosurefraud.com

Mortgage Resolution Servicing, LLC (“MRS”) v JP Morgan Chase | Amended RICO Statement
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK...

03/08/17

Execution of Fabricated Documents

Living Lies

Execution of Fabricated Documents
We are all familiar with robo-signing. It is the practice of using a person’s name and signature on multiple documents when in fact the person did not sign the...

03/08/17

THE TRANSFERRING OF SERVICING RIGHTS TO AVOID REVIEWING COMPLETE MODIFICATION APPLICATIONS

4closureFraud.org

THE TRANSFERRING OF SERVICING RIGHTS TO AVOID REVIEWING COMPLETE MODIFICATION APPLICATIONS
After years of litigating against alleged lenders, investors, servicers, and foreclosure trustee’s we are starting to see a clear trend of the servicing rights being transferred upon receiving a complete loan modification application. What is an alleged lender – this...

03/06/17

Foss: Foreclosure prevention still needed

dailygazette.com

Foss: Foreclosure prevention still needed
Foreclosure seemed imminent, and DJ began packing up her house. But then she got some very good news: Her bank had agreed to modify her mortgage. Her monthly payments would be manageable again, and she wouldn't lose her home....

03/06/17

New York should fund help to prevent foreclosures

newsday.com

New York should fund help to prevent foreclosures
It’s a scenario thousands of Long Island homeowners experience each year. Perhaps it begins with a lost job or an illness. That quickly turns into a missed mortgage payment, and then a second. Homeowners find themselves in delinquency and in danger of foreclosure...

03/04/17

TFH 3/5 | Foreclosure Workshop #28: Bank of America v. Reyes-Toledo — An Important Starting Point for Exposing “The Great Deception” Hiding Who Is Really Foreclosing on American Homeowners

stopforeclosurefraud.com

TFH 3/5 | Foreclosure Workshop #28: Bank of America v. Reyes-Toledo — An Important Starting Point for Exposing “The Great Deception” Hiding Who Is Really Foreclosing on American Homeowners
Hawaii has now joined Connecticut, Florida, New Mexico, New York, Ohio, Oklahoma, and Vermont as the result of another recent landmark foreclosure-related decision of the Hawaii Supreme Court, the most comprehensive of its kind yet, adopting the principle that a foreclosing plaintiff has the evidentiary burden to establish its right to enforce a promissory note at the time it commenced its action...

03/02/17

Kentucky AG Beshear: Settlement with MERSCORP (MERS) National Mortgage Recording Company Provides Better Protections for Kentucky Homeowners

stopforeclosurefraud.com

Kentucky AG Beshear: Settlement with MERSCORP (MERS) National Mortgage Recording Company Provides Better Protections for Kentucky Homeowners
FRANKFORT, Ky. (Feb. 28, 2017) – Attorney General Andy Beshear today announced a multimillion dollar settlement with a national mortgage recording company that will provide Kentucky homeowners with some of the best protections in the country...

03/02/17

CFPB Oversight Uncovers And Corrects Credit Reporting Problems

CFPB

CFPB Oversight Uncovers And Corrects Credit Reporting Problems
Bureau Report Outlines Accuracy and Other Issues That Bureau Supervision Has Taken Action to Address...

02/27/17

Senate Adds Another Foreclosure Kingpin To Trump’s Cabinet

The Huffington Post

Senate Adds Another Foreclosure Kingpin To Trump’s Cabinet
The Senate voted on Monday evening, 72 to 27, to confirm Wilbur Ross as secretary of commerce...

02/24/17

Foreclosures spike 18%

Deadly Clear

Foreclosures spike 18%
IMHO foreclosures abound because the majority of loan collateral went through Fannie and Freddie who, it appears, maintained an interest and guarantee, are the real party in interest and are still hiding debt...

02/24/17

Score One for the Bank Whistle-Blowers

New York Times

Score One for the Bank Whistle-Blowers
Here is something to celebrate: The United States Supreme Court just handed whistle-blowers one of their bigger wins in a long time....

02/23/17

Ocwen SEC filing reveals details of CFPB mortgage servicing investigation

Housing Wire

Ocwen SEC filing reveals details of CFPB mortgage servicing investigation
During a call with investors to discuss the company’s fourth-quarter earnings, Ocwen Financial CEO Ron Faris said resolving the Consumer Financial Protection Bureau’s investigation into the company’s mortgage servicing practices...

02/22/17

Supreme Court breathes new life into whistleblower case against Wells Fargo

Justice League

Supreme Court breathes new life into whistleblower case against Wells Fargo
With a ruling Tuesday, the U.S. Supreme Court revived a long-running whistleblower lawsuit that accused Wachovia’s investment bank of violating accounting rules and skirting internal controls...

02/22/17

Expert Testimony and Expert Reports

Living Lies

Expert Testimony and Expert Reports
Homeowners are dismayed and even claim court bias when the report of a self-proclaimed expert is barred from evidence. Or they become equally incensed when the court allows the report into evidence but gives it zero weight in rendering a decision. But the court is, to that extent, merely following the rules that govern what Judges should or should not do.

02/21/17

Big Banks Could Get Back in the Mortgage Market in a Big Way

Mortgage News Daily

Big Banks Could Get Back in the Mortgage Market in a Big Way
For the past six years, there has been a quiet revolution in the mortgage market: Big banks like JPMorgan (NYSE: JPM), Bank of America (NYSE: BAC) and Citibank (NYSE: C) have moved out and nonbank lenders

02/21/17

Republicans make killing consumer protections a top priority

L.A. Times

Republicans make killing consumer protections a top priority
There’s a lot important stuff going down that our leaders need to deal with — immigration, climate change, Russians running amok. So what are Republican lawmakers doing? They’re busy with legislation aimed at stripping Americans of consumer protections.

02/21/17

Uribe v. CARRINGTON MORTGAGE SERVICES, LLC | TX 4DCA – …”the appellee to establish its right to foreclose was forged and therefore void, the trial court erred in granting the appellee’s motion for summary judgment”

stopforeclosurefraud.com

Uribe v. CARRINGTON MORTGAGE SERVICES, LLC | TX 4DCA – …”the appellee to establish its right to foreclose was forged and therefore void, the trial court erred in granting the appellee’s motion for summary judgment”
Maria Jilma URIBE and Jose Carlos Uribe, Appellants, v. CARRINGTON MORTGAGE SERVICES, LLC on behalf of Wells Fargo Bank NA, as Trustee for Carrington Mortgage Loan Trust, Series 2006-NC4 Asset Backed Pass Through Certificates, Appellee.

02/21/17

Fannie and Freddie Launch Flex Modification Program: No Paperwork Required in Some Cases

Living Lies

Fannie and Freddie Launch Flex Modification Program: No Paperwork Required in Some Cases
Fannie Mae and Freddie Mac have launched a new loan modification program for troubled mortgages known as “Flex Modification.” The GSE’s have an issue with rising defaults and questionable paperwork and the Flex Modification allows them to modify the underlying defective “loan” and gloss over the false endorsements, assignments and chain of title issues. Brilliant!.

02/20/17

Consumer Financial Protection Bureau v HARBOUR PORTFOLIO ADVISORS, LLC – CFPB Has Authority To Request Seven Years’ Worth Of Foreclosure Documents

stopforeclosurefraud.com

Consumer Financial Protection Bureau v HARBOUR PORTFOLIO ADVISORS, LLC – CFPB Has Authority To Request Seven Years’ Worth Of Foreclosure Documents
OPINION AND ORDER GRANTING PETITION TO ENFORCE CIVIL INVESTIGATIVE DEMANDS [1]
On November 29, 2016, Petitioner Consumer Financial Protection Bureau (the “Bureau”) petitioned this Court to enforce Civil Investigative Demands (“CIDs”) that the Bureau issued to Respondents on September 8, 2016. (Id.) For the reasons that follow, the Bureau’s petition is GRANTED..

02/20/17

Foreclosures can happen with reverse mortgages

Globe and Mail

Foreclosures can happen with reverse mortgages
Anything that sounds easy comes with risks. And one risk of using a reverse mortgage to pay for retirement, albeit a rare risk, is foreclosure.

02/20/17

California regulator reveals what Ocwen did wrong

Housing Wire

California regulator reveals what Ocwen did wrong
Over the course of last year, Ocwen Financial detailed its efforts to rid itself of the mortgage servicing restrictions placed on it by a 2015 settlement with the California Department of Business Oversight over claims...

02/20/17

2d Florida DCA Knocks Down CitiMortgage – PennyMac Dance

Living Lies

2d Florida DCA Knocks Down CitiMortgage – PennyMac Dance
The Second District Court of Appeal in Florida has issued an opinion that diligently follows the law and the facts. This decision should serve as the blue print of foreclosure defense in all cases involving the dance between CitiMortgage and PennyMac. It is a shell game and the Court obviously is growing weary of the claims of “immunity” issued by the banks in foreclosure cases.

02/20/17

Trump’s first budget would end program to help low-income Americans get lawyers

Think Progress

Trump’s first budget would end program to help low-income Americans get lawyers
A small, efficient, 40-year-old program to provide legal aid to middle- and low-income clients in civil proceedings is facing the budget ax, according to a New York Times report on the early stages of the Trump administration’s internal budget planning.

02/17/17

Wells Fargo whistle-blower finds vindication after 15 years

San Francisco Chronicle

Wells Fargo whistle-blower finds vindication after 15 years
“I’ve been vindicated,” Ian Minto quietly told himself. It was late September last year.

02/16/17

Consumer Agency Can Demand Answers About Foreclosed Homes, Judge Rules

NYTimes.com

Consumer Agency Can Demand Answers About Foreclosed Homes, Judge Rules
At a time when many Republicans are urging President Trump to weaken the Consumer Financial Protection Bureau, a federal judge has now upheld its authority to issue a subpoena in a housing finance investigation.

02/16/17

Court of Appeals agrees to rehear CFPB case, agency to fight "unconstitutional" ruling

Housing Wire

Court of Appeals agrees to rehear CFPB case, agency to fight "unconstitutional" ruling
If President Donald Trump wants to fire Consumer Financial Protection Bureau Director Richard Cordray, he’s going to have to wait a little longer to do it, as the U.S. Court of Appeals for the District of Columbia Circuit ruled Thursday in favor of the CFPB.

02/14/17

Say goodbye to the controversial CFPB consumer complaint database?

Housing Wire

Say goodbye to the controversial CFPB consumer complaint database?
The Consumer Financial Protection Bureau’s consumer complaint database might not make it too much further past the one-millionth-complaint threshold due to a Republican-led effort to repeal the much-criticized database.

02/14/17

Senate confirms former Goldman Sachs banker Steven Mnuchin as Treasury secretary

CSmonitor.com

Senate confirms former Goldman Sachs banker Steven Mnuchin as Treasury secretary
The GOP-controlled Senate easily confirmed Steven Mnuchin as Treasury secretary, with those opposed taking issue with his part in the Wall Street crisis.

02/14/17

Ted Cruz introduces bill to abolish CFPB

Washington Ezaminer

Ted Cruz introduces bill to abolish CFPB
Texas conservative Sen. Ted Cruz on Tuesday introduced legislation to "abolish" the Consumer Financial Protection Bureau, highlighting the threat to the agency from the Right.

02/14/17

Citigroup’s Crime Spree Against Americans Continues With Slaps on the Wrist

Living Lies

Citigroup’s Crime Spree Against Americans Continues With Slaps on the Wrist
Last week, the Consumer Financial Protection Bureau (CFPB) charged two units of the Wall Street mega bank, Citigroup, with insidious fraudulent acts against homeowners while it imposed a modest $28.8 million in relief and penalties...

02/12/17

No place like home: America’s eviction epidemic

The Guardian

No place like home: America’s eviction epidemic
Soaring rents and low wages have hit the poorest families in the US hard. Harvard sociologist Matthew Desmond introduces an extract from his heartbreaking book about the crisis...

02/11/17

As foreclosures grow, Secaucus and North Bergen sign on for help

NorthJersey.com

As foreclosures grow, Secaucus and North Bergen sign on for help
North Bergen will be one of the first towns in Hudson County to enter a shared services agreement to provide foreclosure prevention resources to homeowners who are close to losing their homes...

02/10/17

Chris Christie signs bill to stop Sandy-related foreclosures

Philly.com

Chris Christie signs bill to stop Sandy-related foreclosures
TRENTON, N.J. (AP) - Gov. Chris Christie signed legislation Friday aimed at preventing mortgage foreclosures on houses damaged by Superstorm Sandy but not before he derided lawmakers over the measure's wording and possible effects....

02/10/17

Worcester city councilor, anti-foreclosure group suing attorney general

Telegram.com

Worcester city councilor, anti-foreclosure group suing attorney general
WORCESTER — Local anti-foreclosure activists and a city councilor are suing Attorney General Maura T. Healey over a ruling that derailed an attempted ballot initiative last year. "This is a small salvo in a larger fight," said anti-foreclosure activist Grace Ross, one of several Worcester plaintiffs, including ...

02/10/17

Foreclosure Litigation Strategy Takes Aim at Seniors, Attorneys Say

Law.com

Foreclosure Litigation Strategy Takes Aim at Seniors, Attorneys Say
Felicia El Hassan had already lost one house. During turbulent times decades earlier in communist Cuba, she’d been forced to surrender property before fleeing to America. The 86-year-old woman thought those days ...

02/09/17

Here's a snapshot of the CFPB monthly mortgage complaints

Housing Wire

Here's a snapshot of the CFPB monthly mortgage complaints
Two charts show state of mortgage complaints. The Consumer Financial Protection Bureau highlighted mortgage complaints in its latest monthly complaint snapshot...

02/09/17

BONAFIDE PROPERTIES, LLC v. E-TRADE BANK | FL 5DCA

Stopforeclosurefraud.com

BONAFIDE PROPERTIES, LLC v. E-TRADE BANK | FL 5DCA
We find that E-Trade failed to prove that it had authority to assign the mortgage to itself.

02/09/17

CitiGroup Whistleblower Richard Bowen: The Immaculate Corruption

Living Lies

CitiGroup Whistleblower Richard Bowen: The Immaculate Corruption
Full Measure with Sharyl Attkisson: The Immaculate Corruption featuring Richard Bowen. Photo: Sharyl Attkisson

02/06/17

Maine robo-signing scandal resurfaces with Treasury nomination

Portland Press Herald

Maine robo-signing scandal resurfaces with Treasury nomination
A group opposed to Steven Mnuchin's appointment says the information contradicts his statements on how his bank handled mortgages during the financial crisis.

02/06/17

Can you really call it a loan when the money came from a thief?

Living Lies

Can you really call it a loan when the money came from a thief?
Perhaps this summary might help some people understand why bad loans were the object of lending instead of good loans. The end result in the process was always to steer everyone into foreclosure.

02/03/17

Here’s how and why CitiMortgage is leaving mortgage servicing

Living Lies

Here’s how and why CitiMortgage is leaving mortgage servicing
Editor’s Note: CitiMortgage is the 6th largest loan servicer in the United States. Citi is now exiting the lucrative industry of mortgage servicing and foreclosing on loans it doesn’t own. Citi was fined $28.8 million dollars last week for servicing improprieties.

02/03/17

WANTED: CitiMortgage Materials, Documents and Manuals

Living Lies

WANTED: CitiMortgage Materials, Documents and Manuals
Do you or someone you know have access to CitiMortgage servicing, foreclosure, modification or other manuals that may shed light on CitiMortgage’s procedures and policies? Did you obtain any CitiMortgage documents through discovery in your own case?

02/02/17

NYE LAVALLE: ROBO-LAWYERS & ROBOWITNESS COMMIT FRAUD ON A FLORIDA COURT

Stopforeclosurefraud.com

NYE LAVALLE: ROBO-LAWYERS & ROBOWITNESS COMMIT FRAUD ON A FLORIDA COURT
McGlinchy Stafford Robo-Lawyers Kathleen Angione & Daniel Pasky Go Over The Top To Intentionally Deceive A Good, Honorable & Inquisitive Judge In A Volusia County, Florida Court With the Known Introduction of Fabricated Evidence

02/01/17

MASS VOTERS SUE FOR TIME TO PRESERVE THE RIGHTS OF 77,344 FORECLOSED HOMEOWNERS

InCityTimesWorcester.org

MASS VOTERS SUE FOR TIME TO PRESERVE THE RIGHTS OF 77,344 FORECLOSED HOMEOWNERS
From Grace Ross and the Mass Alliance Against Predatory Lending: Today, at the 10 a.m. Press Conference, Massachusetts voters who had attempted to put the law to minimize homeowners’ ability to reverse an illegal foreclosure on the ballot for this past November announced their filing of a suit in the Supreme Judicial Court of Massachusetts.

02/01/17

Wells Fargo Foreclosure: Another Unconscionable Foreclosure Tale

Living Lies

Wells Fargo Foreclosure: Another Unconscionable Foreclosure Tale
In 1998, Leanne Labadee bought a three-unit home on Ogden Street in Penn Yan for $75,000. The 50-year-old faithfully paid her mortgage every month, the majority of the time with money orders. She never missed a payment. Like many, she received notices

01/31/17

CFPB Orders Prospect Mortgage to Pay $3.5 Million Fine for Illegal Kickback Scheme

Consumer Finance Protection Bureau

CFPB Orders Prospect Mortgage to Pay $3.5 Million Fine for Illegal Kickback Scheme
Real Estate Brokers and Mortgage Servicer That Took Kickbacks from Prospect Also Ordered to Pay $495,000

01/30/17

Trump treasury pick Mnuchin misled Senate on foreclosures, Ohio cases show

Living Lies

Trump treasury pick Mnuchin misled Senate on foreclosures, Ohio cases show
The Columbus Dispatch
President Donald Trump’s nominee for U.S. treasury secretary was untruthful with the Senate during the confirmation process, documents uncovered by The Dispatch show.

01/30/17

SIGN THE PETITION: Oppose “foreclosure king” Steve Mnuchin

Living Lies

SIGN THE PETITION: Oppose “foreclosure king” Steve Mnuchin
A bombshell news report has revealed that California prosecutors believed Steven Mnuchin, Trump’s pick for treasury secretary, and his company may have been responsible for “widespread misconduct” and violations of foreclosure law...

01/30/17

TILA RESCISSION: Who Pays the Money?

Living Lies

TILA RESCISSION: Who Pays the Money?
While everyone is resisting the idea of enforcing rescission, some are asking the right questions. Here is the answer.

01/29/17

Missouri Wrongful Foreclosure: Trial Court Awards over $3 Million Including Punitive Damages and Quiet Title

Living Lies

Missouri Wrongful Foreclosure: Trial Court Awards over $3 Million Including Punitive Damages and Quiet Title
Missouri had been impenetrable. Things change. This case finds that neither the GSE nor anyone else in the chain had the power to enforce the paper because they did not really have ownership of the loan, that their title was false, that quiet title is granted to plaintiffs, that foreclosure was wrongful, that compensatory damages are awarded and that punitive damages would be awarded. Total Judgment $3 million +.
Important takeaways —

01/27/17

A government Wells Fargo complaint website has vanished. Sen. Elizabeth Warren wants to know why

LA Times

A government Wells Fargo complaint website has vanished. Sen. Elizabeth Warren wants to know why
Sen. Elizabeth Warren wants the acting Labor secretary to explain why a website for complaints from Wells Fargo & Co. employees has disappeared, and she has requested an update on the department’s investigation into the bank’s unauthorized-accounts scandal.

01/23/17

CFPB Orders Citi Subsidiaries to Pay $28.8 Million for Giving the Runaround to Borrowers Trying to Save Their Homes

Stopforeclosurefraud.com

CFPB Orders Citi Subsidiaries to Pay $28.8 Million for Giving the Runaround to Borrowers Trying to Save Their Homes
Mortgage Servicers Kept Borrowers in the Dark About Options, Demanded Excessive Paperwork
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took separate actions against CitiFinancial Servicing and CitiMortgage, Inc. for giving the runaround to struggling homeowners seeking options to save their homes.

01/23/17

Here’s Another Way Wells Fargo Took Advantage Of Customers

ProPublica

Here’s Another Way Wells Fargo Took Advantage Of Customers
Four former employees say that Wells Fargo made clients in its Los Angeles region pay for missing deadlines to lock in interest rates on loans, even though the delays were the bank’s fault.

01/21/17

MAAPL Introduces Anti-Foreclosure Legislation for 2017

Mass Alliance Against Predatory Lending

MAAPL Introduces Anti-Foreclosure Legislation for 2017
Anti-foreclosure activists celebrate the filing of nine pieces of legislation by the Massachusetts Alliance Against Predatory Lending (MAAPL), which together offer a comprehensive resolution to the continuing rate of foreclosures, year after year, and their ever-increasing cumulative impact on the people of Massachusetts, our communities, and the Commonwealth’s entire economy.

01/19/17

Treasury Pick Steve Mnuchin Denies It But Victims Describe His Bank As A Foreclosure Machine

The Intercept

Treasury Pick Steve Mnuchin Denies It But Victims Describe His Bank As A Foreclosure Machine
TREASURY SECRETARY NOMINEE Steve Mnuchin kicked off his confirmation hearing Thursday with a defiant opening statement, mostly defending his record as CEO of OneWest Bank. He cast himself .

01/12/17

Trump Team Signals It Will Oust CFPB's Cordray

National Mortgage News

Trump Team Signals It Will Oust CFPB's Cordray
The Trump administration gave the first clear sign Thursday that it intends to dismiss Consumer Financial Protection Bureau Director Richard Cordray.

01/06/17

Mnuchin's Bank Was Reprimanded by the Same Department He May Lead

The Atlantic

Mnuchin's Bank Was Reprimanded by the Same Department He May Lead
Documents show that state prosecutors and Treasury Department regulators believed Steve Mnuchin's bank was mishandling foreclosures at the height of the financial crisis.

01/04/17

Even Convicted Jack Abramoff Says GOP Attempt To Gut Ethics Office Was A Bad Idea

Justice League

Even Convicted Jack Abramoff Says GOP Attempt To Gut Ethics Office Was A Bad Idea
Jack Abramoff, the former lobbyist whose sprawling corruption case helped prompt the creation of the Office of Congressional Ethics, on Tuesday bashed House Republicans’ short-lived attempt to weaken the office

01/03/17

House Republicans Drop Efforts To Gut Ethics Watchdog After Onslaught Of Criticism
Lawmakers, watchdog groups and the president-elect were critical of the move.

Huffington Post

House Republicans Drop Efforts To Gut Ethics Watchdog After Onslaught Of Criticism
WASHINGTON ? After a torrent of bad headlines, countless phone calls to member offices, and two tweets from President-elect Donald Trump, House Republicans dropped their plans to gut the Office of Congressional Ethics Tuesday, just minutes before the House was set to gavel i

01/03/17

Former CFPB attorney pretty much just confirmed the worst fears of the mortgage industry
We may be right, after all

Housing Wire

Former CFPB attorney pretty much just confirmed the worst fears of the mortgage industry
Since its inception, my desk received voluminous feedback from the mortgage industry on the insider operations at the Consumer Financial Protection Bureau. The HousingWire newsroom’s efforts to work with the CFPB on addressing these issues resulted in a mixed bag of responses, ranging from super helpful to highly combative.

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