Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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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.”

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