Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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10/30/16

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

Washington Post

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

10/20/16

The Times Launches Native Series for Facebook Live: The Whistleblowers

NY Times

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

10/20/16

Australia Banks Ordered To Review Mortgage Fraud

Fraud Investigation Bureau

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

10/20/16

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

NY Times

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

10/20/16

SHELLPOINT MORTGAGE SERVICING - FAILURE TO ADHERE PRUDENT SERVICING PRACTICES?

Change.org

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

10/07/16

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

NY Times

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

10/04/16

Wells Fargo foreclosure manual under fire

Washington Post

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

10/04/16

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

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