Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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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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