Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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09/28/17

Ocwen begins settling with states to remove mortgage servicing restrictions

Housing Wire

Ocwen begins settling with states to remove mortgage servicing restrictions
Back in April, more than 20 states clamped business restrictions on Ocwen Financial for alleged rampant errors with homeowners’ escrow accounts and other mortgage servicing issues.

09/28/17

Jury Verdict Expands to $298 Million in False Claims Act/FIRREA Case as Court Assesses Treble Damages and Penalties

Stopforeclosurefraud.com

Jury Verdict Expands to $298 Million in False Claims Act/FIRREA Case as Court Assesses Treble Damages and Penalties
A federal court in Texas recently entered a massive judgment against a mortgage originator for financial crisis conduct, transforming an already severe $93 million jury verdict into a $298 million punishment, and

09/27/17

Boston Community Capital Foreclosure Relief Initiative Awarded $100 Million in Federally Guaranteed Bond Funding

Boston Community Capital

Boston Community Capital Foreclosure Relief Initiative Awarded $100 Million in Federally Guaranteed Bond Funding
BOSTON, MA—The Community Reinvestment Fund, USA, (CRF) has issued $100 million in federally guaranteed bond funding to Aura Mortgage Advisors, an affiliate of nonprofit Boston Community Capital (BCC)

09/27/17

How the Bankruptcy System Is Failing Black Americans

Propublica.org

How the Bankruptcy System Is Failing Black Americans
Black people struggling with debts are far less likely than their white peers to gain lasting relief from bankruptcy, according to a ProPublica analysis. Primarily to blame

09/26/17

‘Hero’ Judge Urged by Homeowners to Nix $45 Million BofA Penalty

Bloomberg

‘Hero’ Judge Urged by Homeowners to Nix $45 Million BofA Penalty
A California couple who were dragged through a Bank of America Corp. foreclosure called “brazen” and “heartless” by a bankruptcy judge have joined the lender’s request to be spared from a $45 million punishment.

09/26/17

IS TRUMP’S “FORECLOSURE KING” IN OVER HIS HEAD?

Vanity Fair

IS TRUMP’S “FORECLOSURE KING” IN OVER HIS HEAD?
When Donald Trump was running for president, he vowed to pass a tax-reform bill the likes of which the country hadn’t seen for more than 30 years, which got a lot of people who

09/26/17

How You Can Easily Research State Records For Evidence Of Unremediated LPS Robo-Signing Fraud

Living Lies

How You Can Easily Research State Records For Evidence Of Unremediated LPS Robo-Signing Fraud
Many of the banks conducting foreclosures 2008-2013 relied on a few large foreclosure mills to litigate cases for them, and still do. For large banks, it made sense–consolidate your cases

09/25/17

SENATE REPUBLICANS PLAN TO SNEAKILY GUT MAJOR CONSUMER PROTECTION RULE

The Intercept

SENATE REPUBLICANS PLAN TO SNEAKILY GUT MAJOR CONSUMER PROTECTION RULE
In the middle of a consequential week for the future of American health care, Senate Republicans are hoping to sneak through a controversial nullification of a key rule from the Consumer Financial Protection Bureau.

09/24/17

Massachusetts First to Sue Equifax Over Massive Hack

New Economic Perspectives

Massachusetts First to Sue Equifax Over Massive Hack
NEP’s Bill Black was on The Real News Network and discussing that several government agencies and at least 34 state attorneys general have opened investigations into the Equifax data-breach scandal–which is ‘the gift that keeps on giving.’ You can view with transcript here.

09/22/17

“Harmless” Motion to Return Original Documents in Court File might Yield Explosive Effects

Living Lies

“Harmless” Motion to Return Original Documents in Court File might Yield Explosive Effects
The bottom line is that lawyers for the banks and servicers are using a device that looks harmless but creates a strong presumption that the original note exists, that the clerk of the court received it, and that it was apparently sent to the offices of the attorneys that represent the banks or servicers in foreclosure litigation. All this despite the fact that no original note was ever produced, shown, filed or admittted into evidence.

09/21/17

The Foreclosure Crisis and Its Impact on Today’s Housing Market

Stopforeclosurefraud.com

The Foreclosure Crisis and Its Impact on Today’s Housing Market
KCET- In recent years, the American public has been treated to a number of films about the 2008 housing crisis: the insightful documentary “The Queen of Versailles”, the dark, simmering “99 Homes”, and the Oscar nominated “The Big Short” to name a few.

09/20/17

Two Real Estate Investors Plead Guilty To Bid Rigging In Northern California

US Dept. of Justice

Two Real Estate Investors Plead Guilty To Bid Rigging In Northern California
Two real estate investors pleaded guilty for their role in conspiracies to rig bids at public real estate foreclosure auctions in Northern California, the Department of Justice announced.

09/20/17

Nardolillo V. Chase – Northern District of California: Motion to Dismiss Denied

Living Lies

Nardolillo V. Chase – Northern District of California: Motion to Dismiss Denied
See Nordolillo v. JPMorgan Chase Nardolillo v. Chase Analysis by Neil Garfield: Although Nardolillo’s case has merit, unfortunately he may lose because he already alleged that the loan was sold to a specific securitized trust. We already know the loans weren’t transferred to the trusts, so Nardolillo has already compromised his own case by making erroneous presumptions.

09/19/17

CFPB Takes Action Against Top Notch Funding for Lying in Loan Offers to NFL Players, Deepwater Horizon Victims, and 9/11 First Responders

CFPB

CFPB Takes Action Against Top Notch Funding for Lying in Loan Offers to NFL Players, Deepwater Horizon Victims, and 9/11 First Responders
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) took action today against Top Notch Funding and two individuals associated with the company for lying in loan offerings to consumers who were

09/19/17

AI Will Usher In Big Changes For Little Lawyers, Says BCG

Which-50.com

AI Will Usher In Big Changes For Little Lawyers, Says BCG
The number of junior lawyers, and the kinds of tasks they perform, will look vastly different as artifical intelligence makes its away into the data-rich legal industry. That’s a key finding a report released last week

09/19/17

Allied Home Mortgage ordered to pay $296 million for widespread FHA fraud

Housing Wire

Allied Home Mortgage ordered to pay $296 million for widespread FHA fraud
Nearly six years ago, the government sued Allied Home Mortgage, its various entities, and its president and CEO, Jim Hodge, for $834 million, claiming the company engaged

09/19/17

Jurisdiction and REMIC Trusts

Living Lies

Jurisdiction and REMIC Trusts
The upshot is that REMIC Trusts are fictitious names for the underwriters of bogus mortgage bonds issued in the name of a nonexistent REMIC Trust. It is the product of a disguised boiler room operation.

09/18/17

What’s Good for the Goose is Good for the Gander

Living Lies

What’s Good for the Goose is Good for the Gander
In the current judicial bubble, banks and servicers are almost always treated with far more leniency and and given far more leverage than borrowers — through the use of legal presumptions. This case is the exception

09/15/17

THE TRANSFERRING OF SERVICING RIGHTS TO AVOID REVIEWING COMPLETE MODIFICATION APPLICATION

Living Lies

THE TRANSFERRING OF SERVICING RIGHTS TO AVOID REVIEWING COMPLETE MODIFICATION APPLICATION
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.

09/15/17

7th Circuit's chief judge disagrees with newly retired Posner on pro se criticisms

Abajournal.com

7th Circuit's chief judge disagrees with newly retired Posner on pro se criticisms
Chief Judge Diane Wood of the Chicago-based 7th U.S. Circuit Court of Appeals is voicing her disagreement with newly retired Judge Richard Posner.

09/14/17

Homeowners affected by Irma can receive mortgage assistance

Local10.com

Homeowners affected by Irma can receive mortgage assistance
MIAMI - South Florida residents whose homes or businesses were damaged by Hurricane Irma are eligible to receive mortgage assistance and delay payments for up to 12 months.

09/14/17

Attorney Nick Wooten is Suing Banks in Illinois for Breaking Into Homes

Stopforeclosurefraud.com

Attorney Nick Wooten is Suing Banks in Illinois for Breaking Into Homes
Foreclosure defense attorney Nick Wooten has been making headlines as a consumer attorney since the earliest days of the foreclosure crisis.

09/14/17

Consent Judgments Undermine Foundation for Legal Presumptions Used by Banks and Servicers

Living Lies

Consent Judgments Undermine Foundation for Legal Presumptions Used by Banks and Servicers
When multiple banks and “servicers” entered into consent judgments to remediate foreclosures based upon false documents, they created an opportunity for foreclosure defense lawyers to show that there is an inherent lack of credibility of both

09/13/17

Stunning Admission of Signature Forgery In a Bank Foreclosure Case…Read the Testimony!

Matt Weidner Law

Stunning Admission of Signature Forgery In a Bank Foreclosure Case…Read the Testimony!
We all know that there have been widespread and well documented examples of document fraud and forgery in foreclosure cases. What I find most infuriating…is that…even after all these years, we see very little consequence for the banks and their lawyers that have engaged in these practices.

09/12/17

Rooker-Feldman, Res Judicata and Collateral Estoppel

Living Lies

Rooker-Feldman, Res Judicata and Collateral Estoppel
It’s obvious that Rooker Feldman and related doctrines are being misused again because of an underlying presumption that the homeowner is guilty of not paying a bona fide creditor according to the terms of a promissory note.

09/12/17

A TOP BANK REGULATOR IS IN HIS JOB ILLEGALLY, WATCHDOG ARGUES

The Intercept

A TOP BANK REGULATOR IS IN HIS JOB ILLEGALLY, WATCHDOG ARGUES
MOST PEOPLE REMEMBER the last day of a temp job. Maybe colleagues take you out to lunch; maybe you send that goodbye email promising to keep in touch.

09/12/17

Loan Fund Borrower Vicente's Tropical Supermarket and Brockton Neighborhood Health Center Team Up To Build A Healthier Brockton

Boston Community Capital

Loan Fund Borrower Vicente's Tropical Supermarket and Brockton Neighborhood Health Center Team Up To Build A Healthier Brockton
Boston Community Loan Fund borrower Vicente's Tropical Supermarket and Brockton Neighborhood Health Center have teamed up to bring fresh foods and healthy living resources to their neighborhood.

09/12/17

Ocwen is a Bad Player

Living Lies

Ocwen is a Bad Player
The application of legal presumptions and presumed exceptions to the hearsay rule has been leading courts across the country to conclude and assume facts that are opposite to the truth of the matter asserted by parties seeking to foreclose on loans.

09/11/17

Posner: Most judges regard pro se litigants as 'kind of trash not worth the time'

Abajournal.com

Posner: Most judges regard pro se litigants as 'kind of trash not worth the time'
Judge Richard Posner cites boredom with judging as well as rebuffed efforts to aid pro se litigants in a new interview explaining his decision to suddenly retire from the Chicago-based 7th U.S. Circuit Court of Appeals.

09/10/17

JPMorgan’s big secret is that their mortgage securitization operation was the same as everyone else’s

Justice League

JPMorgan’s big secret is that their mortgage securitization operation was the same as everyone else’s
Four years ago, JPMorgan Chase reached a then-record settlement with the Department of Justice after, among other things, the bank received a copy of a U.S. attorney’s draft complaint documenting its alleged role in underwriting fraudulent securities in the years leading up to the 2008 financial crisis.

09/10/17

Bill Black: Equifax Data Breach is a 10 out of 10 Scandal

Nakedcapitalism.com

Bill Black: Equifax Data Breach is a 10 out of 10 Scandal
In this Real News Network interview, financial regulation expert Bill Black discusses the hacking of consumer credit reporting giant Equifax, and the company’s ‘cynical’ handling of that data breach– a far-reaching disaster that borders on criminal.

09/10/17

For Struggling Consumers, a Cheaper Way to File for Bankruptcy

Wall Street Journal

For Struggling Consumers, a Cheaper Way to File for Bankruptcy
A nonprofit has developed an online program designed to help people prepare a chapter 7 filing without a lawyer

09/09/17

Identity theft protection following the Equifax data breach

CFPB

Identity theft protection following the Equifax data breach
Millions of Americans have been impacted by the recent Equifax data breach. Whether or not your personal information has been stolen, there are steps you can take to protect yourself and your credit.

09/08/17

The Equifax Data Breach: What to Do

FEDERAL TRADE COMMISSION

The Equifax Data Breach: What to Do
If you have a credit report, there’s a good chance that you’re one of the 143 million American consumers whose sensitive personal information was exposed in a data breach at Equifax, one of the nation’s three major credit reporting agencies.

09/08/17

Ocwen Financial Gets No Respect...

Huffpost.com

Ocwen Financial Gets No Respect...
Yes, they are truly the Rodney Dangerfield of mortgage servicers (not). During the past several months, Ocwen has played broadside of a barn for Federal and State regulators

09/07/17

Wells Fargo Buys Servicing Rights as Seneca's Mortgage Bet Ends

Bloomberg.com

Wells Fargo Buys Servicing Rights as Seneca's Mortgage Bet Ends
Wells Fargo & Co., the largest U.S. home lender, bought about $51 billion in servicing rights from an investment firm connected to Blackstone Group LP’s credit arm in a deal that depletes the investor’s mortgage portfolio.

09/07/17

Equifax reports massive data breach that could impact 143 million consumers

Housing Wire

Equifax reports massive data breach that could impact 143 million consumers
Equifax, one of the nation’s three largest credit reporting agencies, revealed Thursday that it was the victim of a “cybersecurity incident” that potentially impacts as many as 143 million U.S. consumers.

09/07/17

Attack the Legal Presumptions

Living Lies

Attack the Legal Presumptions
Legal presumptions lie at the very heart of the millions of wrongful foreclosures that have been approved by the courts and that will be approved in the future unless lawyers are able to successfully challenge the basic premises of the foreclosing party, to wit:

09/07/17

East Bay investor heads to prison for rigging foreclosure auctions during recession

East Bay Times

East Bay investor heads to prison for rigging foreclosure auctions during recession
WALNUT CREEK — A local real estate investor is going to prison for his role in a bid-rigging scheme that defrauded homeowners whose properties were foreclosed on during the height of the recession.

09/06/17

Audit Says Rhode Island Misspent Foreclosure Relief Money

US News and World Report

Audit Says Rhode Island Misspent Foreclosure Relief Money
A federal audit says Rhode Island charged $1.2 million in unnecessary expenses to a program established in 2010 to prevent foreclosures in the states hardest hit by the economic crisis.

09/05/17

WELLS FARGO, WHY ARE YOU STILL HERE?

Occupy.com

WELLS FARGO, WHY ARE YOU STILL HERE?
Reemember the things we learned from old movies as kids? Some of the ones I still think of, for some reason, are:

09/05/17

Wells Fargo Strikes Again

Living Lies

Wells Fargo Strikes Again
If you want to know why people in all political spectrums are angry enough to blow up stuff consider this: If any of us walked into Wells Fargo Bank and

09/02/17

Student loans missing chain of title paperwork being wiped out by courts

Mandelman Matters

Student loans missing chain of title paperwork being wiped out by courts
The New York Times, and specifically reporters Jessica Silver-Greenberg and Stacy Cowley, recently writing about defaulting student loans reported the following…

09/02/17

Nine years on, another Lehman Brothers bankruptcy

Justice League

Nine years on, another Lehman Brothers bankruptcy
The two affiliates, Lehman Brothers U.K. Holdings (Delaware) Inc and Lehman Pass-Through Securities Inc, were put into bankruptcy as part of a deal that will generate $485 million cash for the Lehman estate, according to court documents.

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