15 August 2017
LA TIMES- Stephen Sanger, the chairman of Wells Fargo & Co., will step down from the board of the embattled bank effective Jan. 1 and will be replaced by former Federal Reserve official Elizabeth A. “Betsy” Duke, the bank announced Tuesday. Two other long-serving directors, Cynthia H. Milligan and Susan G. Swenson, also will retire at the […]
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15 August 2017
NYT- Amid reports Thursday that Stephen Sanger, chairman of the Wells Fargo board, may step down in the coming months, all eyes are on the bank’s directors and their oversight of the troubled institution. While some Wells Fargo shareholders are urging the bank’s directors to sharpen their scrutiny in the wake of continuing misconduct, it’s noteworthy that […]
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14 August 2017
IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA JOSEPH W. PRINCE , et al. v. BAC HOME LOANS SERVICING, L.P., et al. © 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
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12 August 2017
COMING TO YOU LIVE DIRECTLY FROM THE DUBIN LAW OFFICES AT HARBOR COURT, DOWNTOWN HONOLULU, HAWAII LISTEN TO KHVH-AM (830 ON THE AM RADIO DIAL) ALSO AVAILABLE ON KHVH-AM ON THE iHEART APP ON THE INTERNET . . Sunday – August 13 ——————— Open Forum: What Every Homeowner Threatened With Foreclosure Needs To Know About […]
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10 August 2017
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, August 8, 2017 PHH Agrees to Pay Over $74 Million to Resolve Alleged False Claims Act Liability Arising from Mortgage Lending PHH Corp. PHH Mortgage Corp. and PHH Home Loans (collectively, PHH) have agreed to pay the United States $74,453,802 to resolve allegations that […]
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10 August 2017
HuffingtonPost- It seemed like the Treasury Secretary doth protest a bit too much as a Shakespearean drama unfolded at a July 27th meeting of the House Financial Services Subcommittee. Steven Mnuchin, like some wayward damsel in distress, took deep umbrage at Representative Keith Ellison’s (D-MN) suggestion that he was anything but an honest, ethical banker; albeit one […]
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08 August 2017
NY POST- Another day, another class-action lawsuit against Wells Fargo. The latest legal salvo claims the bank headed by Chief Executive Tim Sloan has been ripping off small businesses for years by burying fees and misleading merchants about how much they have to pay for credit card processing services. Wells Fargo’s merchant services unit, a […]
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08 August 2017
H/T Dubin Law Lexology- In a divided en banc decision, the U.S. Circuit Court of Appeals for the Seventh Circuit has reversed (by vote of 7 to 4) a 2016 decision that a law firm when acting as a debt collector was shielded from liability under the Fair Debt Collection Practices Act when it relied on precedent […]
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07 August 2017
Market Watch- Fannie Mae and Freddie Mac could need a taxpayer bailout of as much as $99.6 billion if a severe economic downturn gripped the U.S., their regulator said Monday. The Federal Housing Finance Agency released the results of a stress test that examined how the mortgage finance companies would perform in what’s called a […]
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07 August 2017
Reuters- Wells Fargo & Co (WFC.N) will pay the U.S. government $108 million to settle a whistleblower lawsuit claiming it charged military veterans hidden fees to refinance their mortgages, and concealed the fees when applying for federal loan guarantees. The third-largest U.S. bank on Friday said the accord resolved claims that its Interest Rate Reduction […]
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05 August 2017
COMING TO YOU LIVE DIRECTLY FROM THE DUBIN LAW OFFICES AT HARBOR COURT, DOWNTOWN HONOLULU, HAWAII LISTEN TO KHVH-AM (830 ON THE AM RADIO DIAL) ALSO AVAILABLE ON KHVH-AM ON THE iHEART APP ON THE INTERNET . . Sunday – August 6 ——————— Foreclosure Workshop #39: Hall v. Yee — Exposing Yet Another Hidden Fraudulent […]
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03 August 2017
CNN MONEY- A federal agency has ordered Wells Fargo to give a whistleblower her job back, along with $577,500 in back pay and damages. The whistleblower was working as a branch manager in Pomona, California, when she was fired for reporting misconduct related to the bank’s fake account scandal, according to findings released on Friday by the […]
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03 August 2017
REUTERS- New York state’s banking and insurance regulator has issued subpoenas to two Wells Fargo & Co units after the bank admitted to charging several hundred thousand borrowers for auto insurance they did not ask for or need, causing many delinquencies. The New York Department of Financial Services is demanding Wells’ loan contracts with New […]
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02 August 2017
Bankruptcy-RealEstate-Insights- Tamir v. U. S. Trustee, 566 B.R. 278 (D. Me. 2016) – A chapter 11 debtor filed objections to proofs of claim filed by holders of his mortgage notes. He argued that the banks did not have secured claims because under state law they did not have standing to foreclose the related mortgages. After the […]
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02 August 2017
Lexology- Lawsuits arising out of foreclosures and mortgage modifications are common. (Even more common than lawsuits about gyms or health clubs if you can believe that.) Nearly every day there is a decision from the Appellate Division arising out of a residential foreclosure. Most of these fall into the same category — borrower defaults and loses home through foreclosure then challenges […]
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02 August 2017
Joseph Otting signed legal papers admitting the bank he ran forged documents to push Americans out of their homes. He also bought a mansion. Huffington Post- President Donald Trump’s choice to lead a key bank regulation agency spent the first half of this decade running a bank that illegally foreclosed on hundreds of thousands of Americans, often […]
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01 August 2017
Seeking Alpha- Summary The government has been winning lawsuits based on the premise that the facts don’t matter. New documents produced by discovery prove that the government has been lying about the facts. Plaintiff lawsuits are like weeds where if one results in a loss, it is appealed and another one is filed with improved reasoning. […]
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01 August 2017
Lexology- The U.S. Court of Appeals for the Fourth Circuit recently held that the federal Servicemembers Civil Relief Act (SCRA) does not apply to a mortgage loan obligation incurred while a borrower is a member of the military, even where he subsequently leaves and then later re-enlists in the military prior to a foreclosure sale. […]
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31 July 2017
Reuters- A new lawsuit accuses Wells Fargo & Co (WFC.N) of racketeering violations and fraud after the bank admitted to charging several hundred thousand borrowers for auto insurance they did not ask for or need, causing many delinquencies. The proposed class action filed on Sunday in San Francisco federal court deepens the fallout from the […]
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30 July 2017
Lexology- It’s essential for secured creditors, particularly those who deal with consumer debts, to have policies in place that address the effects of a borrower’s bankruptcy. A Texas bankruptcy court underscored this need by ruling that a secured creditor’s claim could be modified, lessening its total recovery from the bankruptcy estate, where the creditor did […]
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30 July 2017
COMING TO YOU LIVE DIRECTLY FROM THE DUBIN LAW OFFICES AT HARBOR COURT, DOWNTOWN HONOLULU, HAWAII LISTEN TO KHVH-AM (830 ON THE AM RADIO DIAL) ALSO AVAILABLE ON KHVH-AM ON THE iHEART APP ON THE INTERNET . . Sunday – July 30 Foreclosure Workshop #38: Guliex v. PennyMac Holdings LLC — Borrowers Beware of Ten […]
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27 July 2017
CNN Money- 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 […]
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