28 January 2012
Where was Obama these last years, millions getting thrown out in the streets? This is purely political and this is election year…coincidence? NOT. Gretchen Morgenson- PRESIDENT OBAMA told the nation last week that he was convening a task force to investigate the abusive practices in the mortgage industry that led to our economic woes. Both [...]
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28 January 2012
Simple solution for each and every state that was destroyed by using MERS alone. Michigan Citizen- If you believe the status quo media reports and some state officials, the city of Detroit has exhausted all of its options to erase its mounting budget deficit. The only solution, according to Gov. Rick Snyder and State Treasurer [...]
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28 January 2012
via: Matt Stoller “Requires the applicant to qualify to be a Wells Fargo officer to execute documents and.. pass an online MERS signing authority assessment” Oh and by the way, where is there any disclosure that Wells Fargo is a shareholder of MERS…?? So it will be creating legal documents for itself, basically. Scribd [...]
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28 January 2012
I became Attorney General about a year ago and started digging into this, and realized that New York and Delaware, which is why my collaboration with Beau Biden was so important, we had a unique place. Because all of the mortgage-backed securities were actually pools of mortgages deposited into New York trusts or Delaware trusts. [...]
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27 January 2012
Title: An act relating to protecting short sale sellers from payment of forgiven home loan debt if such debt forgiveness is reported to the internal revenue service. Brief Description: Protecting short sale sellers from payment of forgiven home loan debt if such debt forgiveness is reported to the internal revenue service. Sponsors: Senators Frockt, Fain, [...]
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27 January 2012
REUTERS LEGAL REPORTER ALISON FRANKEL - I follow mortgage-backed securities litigation closely enough to be disgusted at the greed that fueled the securitization of insufficiently underwritten mortgages issued to homeowners who had no hope of paying them off. Sure, MBS investors and the bond insurers that backed MBS trusts were sophisticated and, to some extent, [...]
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27 January 2012
I posted the quoted text below back on Nov ’10… I wonder who exactly signs off for MERS, if this is so? The standard modification agreement is between the Borrower and the Lender. The agreement amends and supplements (1) the Mortgage, Deed of Trust or Deed to Secure Debt (Security Instrument) and (2) the Note [...]
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27 January 2012
Unit Announced By President Obama In 2012 State Of The Union Address Panel Charged With Investigating Mortgage Crisis, Resulting Damage To Homeowners And Investors Schneiderman: Comprehensive Investigation Will Help Restore Americans’ Trust In Financial Sector And Government [En Español] WASHINGTON – New York Attorney General Eric T. Schneiderman, U.S. Attorney General Eric H. Holder, Housing [...]
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27 January 2012
‘Kafkaesque’ nightmares plague homeowners facing foreclosure iWATCH NEWS- Like millions of stories from the great recession, this one begins with homeowners struggling to keep up with a mortgage payment they simply couldn’t afford. By 2009, the adjustable interest rate for Cassandra and Bernard Gray’s Durham, N.C., home loan had spiked to more than 12 [...]
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27 January 2012
You simply cannot make this stuff up! HW- The new federal task force led by New York Attorney General Eric Schneiderman sent subpoenas to the 11 largest financial institutions in the past few days as part of its investigation in possible residential mortgage-backed securities fraud. President Obama formed the task group and announced it in [...]
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27 January 2012
HuffPO- The Obama administration, state attorneys general, and the nation’s largest banks are close to a final settlement on the years-long struggle over allegations of massive foreclosure fraud, according to several sources familiar with the talks. The final details of the arrangement, according to the source who revealed them, will apparently not preclude prosecutors and [...]
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26 January 2012
Linette Lopez over at Business Insider did a great job documenting AG Schneiderman’s past and why he might stick to his commitment of seeking accountability after all. Business Insider- At Tuesday’s State of the Union Address, Obama announced that he would be creating a new task force within the Consumer Financial Protection Bureauto coordinate all [...]
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26 January 2012
Already starting in the wrong foot, I’m not sure how this all will come together? There were 100 FBI agents investigating ENRON alone?? Huffington Post- The investigators will consider a variety of cases, including false statements, mail and wire fraud, and failure to comply with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, [...]
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26 January 2012
Floridians know she’s inadequate for her position because she hasn’t even investigated foreclosure fraud. Palm Beach Post- Florida Attorney General Pam Bondi stood by the 50-state attorneys general settlement with the nation’s biggest banks on Thursday as California and Delaware formally rejected the proposal she helped negotiate. Bondi said Floridians can’t wait for foreclosure relief [...]
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Added on 15 October 2011
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