Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.

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Articles are added weekly 

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03/29/18

U.S. Bank v Joseph

Stopforeclosurefraud.com

U.S. Bank v Joseph
| American Veteran’s 12 year battle with bank ends with Appellate Court reversing the lower court and dismissing foreclosure as barred by the statute of limitations

03/29/18

Tracey v. WELLS FARGO BANK, NA | FL 2DCA

Stopforeclosurefraud.com

Tracey v. WELLS FARGO BANK, NA | FL 2DCA
– the breach of the modification agreements became an integral part of the basis of Wells Fargo’s theory of recovery as well as the final judgment the circuit court ultimately entered… and so we must reverse the court’s final judgment.

03/29/18

The Long Island Foreclosure Epidemic

New York Law Journal

The Long Island Foreclosure Epidemic
The economic crisis of 2008 is over. All indicators show that the national economy is humming along. Yet, Long Island is currently mired in an foreclosure epidemic that shows little, if any signs of easing.

03/29/18

Barclays Agrees to Pay $2 Billion in Civil Penalties to Resolve Claims for Fraud in the Sale of Residential Mortgage-Backed Securities

Ackley Law

Barclays Agrees to Pay $2 Billion in Civil Penalties to Resolve Claims for Fraud in the Sale of Residential Mortgage-Backed Securities
Two Former Barclays Executives Agree to Pay $2 Million to Resolve Claims Brought Against Them Individually The United States has reached agreement

03/28/18

New York foreclosure firm accused of cheating Fannie Mae out of millions

Housing Wire

New York foreclosure firm accused of cheating Fannie Mae out of millions
A New York foreclosure law firm allegedly used its affiliated companies to “systemically” overcharge for foreclosure-related services and defraud Fannie Mae out of “millions of dollars,” the Department of Justice said in court this week.

03/28/18

Wells Fargo “Lending” Securities It Didn’t Own

Deadly Clear

Wells Fargo “Lending” Securities It Didn’t Own
This is why there is over $11 TRILLION in UNREGULATED MBS DERIVATIVE debt when there are only 100 million mortgageable properties in the U.S. housing universe. Securitization and rehypothecation have taken down the American Dream and creamed Fannie & Freddie.

03/26/18

Wells Fargo’s Overseer -- Make That Over-Looker -- Has Just Been Promoted

The American Prospect

Wells Fargo’s Overseer -- Make That Over-Looker -- Has Just Been Promoted
The leader of the San Francisco Fed has been tapped to head the New York Fed, the nation’s frontline bank supervisor. That doesn’t augur well.

03/22/18

LOCAL LAWYER EXPLAINS HOW A LOCAL VETERAN IS FACING FORECLOSURE

Kezi.com

LOCAL LAWYER EXPLAINS HOW A LOCAL VETERAN IS FACING FORECLOSURE
KEZI spoke to a local lawyer to break down the legality of the Ulino couple's situation.

03/20/18

Mortgage company threatens foreclosure for 'missed' payments

Azfamily.com

Mortgage company threatens foreclosure for 'missed' payments
Edwin Valrey-Jung said he was making his mortgage payments but the mortgage company said he wasn't getting them. The problem, he says, is that his home loan has been sold two different times to different companies and the payments he made had somehow fallen through the cracks.

03/17/18

URGENT! Washington Homeowners Demand Governor Inslee reject Bill 2057 NOW!

Living Lies

URGENT! Washington Homeowners Demand Governor Inslee reject Bill 2057 NOW!
The Washington State Legislature is one vote away from making changes to Bill 2057 that would be detrimental to homeowners. The changes would clear the way for anyone, without proof, to claim to be in possession of a promissory note, and to make it a slam-dunk to foreclosure non-judicially.

03/15/18

Davidson v. Seterus, Inc. | CA COA

Stopforeclosurefraud.com

Davidson v. Seterus, Inc. | CA COA
– Mortgage Servicer could be considered a “debt collector” under California’s Rosenthal Fair Debt Collection Practices Act (the Rosenthal Act; Civ. Code,1 sec. 1788 et seq.)

03/15/18

Foreclosure activists take aim at banks with what they say are fraudulent documents

Worcester Magazine

Foreclosure activists take aim at banks with what they say are fraudulent documents
Housing activists are padding a case against banks they say have consistently lied to the courts in foreclosure cases. The Worcester Anti-Foreclosure Team rallied

03/15/18

On 10th Anniversary of Wall Street Crash, Democrats Help GOP Set Stage for Next One

Common Dreams

On 10th Anniversary of Wall Street Crash, Democrats Help GOP Set Stage for Next One
Can Schumer's Democrats claim to fight for the little guy after deregulating 25 of the country's 40 biggest banks—and making it more likely the little guy's money will be used to give them bailouts?"

03/14/18

Senate Hands Major Gift to Wall Street for Second Time in Less Than Six Months

NACA

Senate Hands Major Gift to Wall Street for Second Time in Less Than Six Months
The U.S. Senate today voted [67-31] to roll back crucial banking safeguards that were installed after the 2008 financial crisis to prevent

03/14/18

The Fallacy of Legitimacy: SEC Documents are not Evidence

Living Lies

The Fallacy of Legitimacy: SEC Documents are not Evidence
Documents filed with the SEC are not evidence of the legitimacy of a PSA. The PSA was not filed with the SEC although the banks would like you to think so. The document,

03/14/18

How Mortgage Companies Might Finally Be Held Accountable

The Nation

How Mortgage Companies Might Finally Be Held Accountable
Brad Miller’s been tracking his particular white whale for over a decade. But he hadn’t found the right harpoon with which to slay it. Until last week.

03/13/18

Legal tech is opening the system to those who need legal representation the most

Techcrunch.com

Legal tech is opening the system to those who need legal representation the most
Jane (whose name changed for privacy purposes) had been living with her elderly mother for more than 20 years in a rent-stabilized apartment in the

03/13/18

How two smart California laws kept the 2008 mortgage crisis from being far worse

The Sacramento Bee

How two smart California laws kept the 2008 mortgage crisis from being far worse
A decade after the mortgage crisis swept California, home prices are rising, far fewer borrowers are under water, and the state’s economy and government’s finances are strong. Two little-discussed anti-foreclosure laws deserve much credit for slowing the initial devastation and for helping to stabilize the housing market and the economy.

03/12/18

Rally and Press Conference at Worcester County Courthouse on 3/12

MAAPL.info

Rally and Press Conference at Worcester County Courthouse on 3/12
Wronged Homeowners to Submit Video Proof of Criminal Fraud by Mega-Banks to Worcester District Attorney

03/12/18

Senate banking bill rewards Equifax despite privacy breaches

Politico

Senate banking bill rewards Equifax despite privacy breaches
Equifax’s role in the biggest consumer data breach in U.S. history isn’t stopping Congress from giving the giant credit reporting company sweeping protection from lawsuits while allowing it to expand its offerings into the mortgage business.

03/09/18

David Dayen at the L.A. Times: One thing Democrats and Republicans apparently agree on: Destabilizing the banking sector again

Living Lies

David Dayen at the L.A. Times: One thing Democrats and Republicans apparently agree on: Destabilizing the banking sector again
Next week marks the 10th anniversary of the run on Bear Stearns, the investment bank that collapsed under the weight of toxic subprime mortgages.

03/09/18

Senate banking bill could make mortgages easier to get from your local bank

CNBC

Senate banking bill could make mortgages easier to get from your local bank
Qualifying for a mortgage could require jumping through fewer hoops and meeting fewer requirements at banks with $10 billion or less in assets. To sidestep strict federal guidelines for so-called "qualified mortgages," those institutions would be required to keep the loan on their books instead of selling it, among other conditions.

03/08/18

Canada Bracing for Housing Crash Caused by the Same Illegal Practices as US

Living Lies

Canada Bracing for Housing Crash Caused by the Same Illegal Practices as US
The US was a trial run and it worked perfectly for the investment banks. They got money from investors in exchange for what investors thought were RMBS. As they sold more and more of the junk

03/08/18

Homeowners fraudulently Foreclosed by Faux-Lenders were nothing but Collateral Damage to the Federal Reserve

Living Lies

Homeowners fraudulently Foreclosed by Faux-Lenders were nothing but Collateral Damage to the Federal Reserve
Of the number of people who “purchased” a loan product leading up to the mortgage meltdown- most were refi’s on refi’s. At one point it was reported that MERS had data on

03/07/18

Nationstar Mortgage v Martins | FL 4DCA –

Stopforeclosurefraud.com

Nationstar Mortgage v Martins | FL 4DCA –
(“Nationstar”) was not the holder of the note secured by his property at the time it filed a mortgage foreclosure suit…we reverse and direct the trial court to vacate the final judgment awarding fees to Mr. Martins

03/07/18

David Dayen via The Intercept: Stealth Attack on Wall Street Bank Reform foams the runway for the next Financial Crisis

Living Lies

David Dayen via The Intercept: Stealth Attack on Wall Street Bank Reform foams the runway for the next Financial Crisis
Editor’s Note: S.2155 is known in Washington as the Crapo bill. A fitting name. Even Georgetown Law professor and former CFPB adviser Adam Levitin in a blog post warns the dangers of further bank deregulation. This bill functionally exempts 85% of US banks and credit unions from fair lending laws in the mortgage market

03/07/18

Only a Forensic Examiner can determine the Validity of an “Original” Note

Living Lies

Only a Forensic Examiner can determine the Validity of an “Original” Note
Message of the day to homeowners and their lawyers: “stop admitting things that you assume are true.

03/07/18

FLORIDA: To Defeat Bartram, One Must Defeat the Default Claim

Cloudedtitlesblog.com

FLORIDA: To Defeat Bartram, One Must Defeat the Default Claim
I was rummaging through some recent cases when I found a case involving HSBC Bank USA, NA who was acting as a Trustee for a REMIC, which got me thinking

03/06/18

Meet the California Whistleblower Lawyer Helping Cities Sue Wells Fargo

Law.com

Meet the California Whistleblower Lawyer Helping Cities Sue Wells Fargo
When Sacramento joined the ranks of cities suing Wells Fargo & Co. over allegations of discriminatory mortgage lending practices, it turned last month to a lawyer at a small firm in San Francisco who has become a familiar foe for the bank

03/06/18

RBS reaches $500 million settlement with New York over mortgage securities

Reuters

RBS reaches $500 million settlement with New York over mortgage securities
NEW YORK (Reuters) - Royal Bank of Scotland Group Plc (RBS.L) has reached a $500 million settlement with New York state to resolve

03/06/18

BARON & BUDD SECURES CLASS CERTIFICATION FOR HOME BUYERS AGAINST BANK OF AMERICA, COUNTRYWIDE FINANCIAL

Stopforeclosurefraud.com

BARON & BUDD SECURES CLASS CERTIFICATION FOR HOME BUYERS AGAINST BANK OF AMERICA, COUNTRYWIDE FINANCIAL
Class action lawsuit alleges lender and appraisal company entered into a corrupt relationship to prepare fraudulent real estate appraisals to quickly close more home loans; subclass of Texas borrowers also certified

03/05/18

Mitch McConnell's big gift to the banks

CNN

Mitch McConnell's big gift to the banks
This month marks the tenth anniversary of the $29 billion US government-backed bailout of Bear Stearns. The collapse of this giant investment bank in March 2008, under the weight of its bad mortgage-linked bets, marked the beginning of the global financial crisis.

03/05/18

OK, We Fabricated and Forged the Documentation. So What?

Living Lies

OK, We Fabricated and Forged the Documentation. So What?
As Bill Paatalo (who brought this to my attention) says: “You can’t make this s–t up.” Reality is much stranger than fiction. This marks the point where we have entered the Twilight Zone in law where the rule of law is just a guidepost not to be confused with the real rule of men.

03/05/18

Ratification of Void Assignments to REMIC Trust is Clear Nonsense

Living Lies

Ratification of Void Assignments to REMIC Trust is Clear Nonsense
The Yvanova string of cases in California are based upon some vague notion of whether a void assignment (e.g., past the cutoff date) could be ratified by the trust, trustee or trust beneficiaries.

03/04/18

Denied a Loan Modification or Refinance from Bank of America?

Living Lies

Denied a Loan Modification or Refinance from Bank of America?
ATTENTION! IF YOU WERE WRONGLY DENIED OR DELAYED FOR MODIFICATION OF YOUR MORTGAGE PAYMENTS, YOU MAY BE ENTITLED TO SUBSTANTIAL COMPENSATION. CONTACT US NOW TO RECEIVE A FREE EVALUATION.

03/04/18

Investigator Bill Paatalo: FOIA Request Reveals Servicer’s “Justification” For Fraud In Obtaining Limited Power Of Attorney From FDIC

Living Lies

Investigator Bill Paatalo: FOIA Request Reveals Servicer’s “Justification” For Fraud In Obtaining Limited Power Of Attorney From FDIC
This FOIA response from the FDIC dated June 29, 2017 contains a request to renew CIT Bank, N.A.’s “Limited Power of Attorney” from the FDIC regarding the failed IndyMac Bank, fsb and IndyMac Federal Bank, fsb. The “Justification” for CIT Bank’s request states as follows:

03/04/18

Big Wall Street Banks See Chance to Weaken Post-Crisis Rule

NYTimes

Big Wall Street Banks See Chance to Weaken Post-Crisis Rule
The first significant bipartisan attempt to alter rules established after the 2008 financial crisis is turning into a battle on Capitol Hill, as some of the biggest Wall Street banks seek to

03/03/18

Investigator Bill Paatalo: The Money Trail Dead-Ends

Living Lies

Investigator Bill Paatalo: The Money Trail Dead-Ends
Investigator Bill Paatalo has not put down the shovel since he started digging through voluminous amounts of bank data almost a decade ago. He sifts through thousands of documents filed by the SEC, FDIC, OCC, court dockets, FBI, Attorney General offices, internet and documents submitted from concerned citizens and whistle-blowers.

03/03/18

SIX YEARS LATER … AND THEY’RE STILL ROBOSIGNING!

Clouded Titles

SIX YEARS LATER … AND THEY’RE STILL ROBOSIGNING!
In March of 2012, all of the major servicers and the 49 States Attorneys General (except Oklahoma) inked an agreement wherein the servicers would stop the then-common practice of “robosigning” documents. Six years later and it’s still going on.

03/02/18

FHA extends foreclosure moratorium for Puerto Rico, Virgin Islands hurricane victims

Housing Wire

FHA extends foreclosure moratorium for Puerto Rico, Virgin Islands hurricane victims
The Department of Housing and Urban Development announced this week that the Federal Housing Administration is extending the foreclosure moratorium for Hurricane Maria victims in Puerto Rico and the U.S. Virgin Islands.

03/01/18

THINKING OF PLEADING TILA? THINK TWICE!

Clouded Titles

THINKING OF PLEADING TILA? THINK TWICE!
The U.S. 8th Circuit Court of Appeals has just affirmed the U.S. District Court’s decision (for the District of Minnesota) on the Jesinoksi case once and for all.

03/01/18

Forensic Loan Audits

FEDERAL TRADE COMMISSION

Forensic Loan Audits
Fraudulent foreclosure “rescue” professionals use half-truths and outright lies to sell services that promise relief to homeowners in distress. According to the Federal Trade Commission (FTC), the nation’s consumer protection agency, the latest foreclosure rescue scam to exploit financially strapped homeowners pitches forensic mortgage loan audits.

03/01/18

High Court to Examine Foreclosure Notice Requirements

Stopforeclosurefraud.com

High Court to Examine Foreclosure Notice Requirements
Law.com-
The Pennsylvania Supreme Court is set to decide whether a mortgagee must issue a new notice of intent to foreclose before filing a second foreclosure complaint after its initial complaint was dismissed.

03/01/18

CHASE BOMBSHELL! Investigator Bill Paatalo Follow-Up: JPMorgan Chase Ordered To Produce Wire Transfers Of Borrower’s Payments To Trust

Living Lies

CHASE BOMBSHELL! Investigator Bill Paatalo Follow-Up: JPMorgan Chase Ordered To Produce Wire Transfers Of Borrower’s Payments To Trust
On February 23, 2018 JPMorgan Chase filed an emergency motion seeking clarification and an in camera review. (See: Chase Emergency Motion – Proodian (1) ) Here are some excerpts from the motion with my comments in CAPS:

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