Anonymous via his source post crucial information that has been known but not in detail.

Attorneys and Attorney Generals nationwide have been working diligently against the banks in order to keep their clients in their homes. You must keep in mind that there are several levels of indiscriminate behavior going on, keeping these efforts at bay. For now, however, I will give you a general overview of how some of the tracking systems interact and how the reporting works, so that those with the power to subpoena documents for their clients know where to find the correct documentation to support their individual cases, because as Abigail Fields points out, “It would certainly be provable/disprovable by subpoenaing documents.”

In order to do that, however, an attorney would need to know where to look. If you were to only subpoena generic loan information, you will only be provided with the System of Record (SOR) data, which previous posts have clearly proved do not show the full picture as there are several common ways of removing information from the system of record both individually and en masse. As the email trail clearly shows, there is always an audit trail in the back end if you know what to ask for.

From the Palm Beach Post

Florida Bar President Mayanne Downs predicts some Florida attorneys will pay the ultimate professional price for foreclosure-related wrongdoing – disbarment – as investigations mount statewide.

“It’s the death penalty of the legal profession,” said Downs, who spoke to The Palm Beach Post’s editorial board this week about legislative proposals affecting the courts and the state’s ongoing foreclosure tumult.

The bar, which is responsible for investigating complaints of attorney misconduct, has 222 foreclosure fraud cases open on 157 lawyers.

A federal jury awarded a Fort Benning Soldier more than $20 million on Monday in a case against Coldwell Banker Mortgage — an amount the plaintiff’s attorney called necessary to get the company’s attention.

Jurors in the case of David Brash v. PHH Mortgage Corp., doing business as Coldwell Banker, deliberated for about six hours before ruling in Brash’s favor. During the six-day trial, jurors heard that Coldwell Banker improperly reported Brash, 29, to credit bureaus which led to a “serious delinquency” on his credit report, that it refused to answer his questions or correct his account and damaged him emotionally, physically and financially, his attorneys and court documents say.

Source: Housing Wire

The Securities and Exchange Commission upheld a New York City Pension Funds request that big bank shareholders will get to vote on whether or not those vested financial institutions conduct foreclosure reviews.

Shareholders of Bank of America (: ), Citigroup (: ) and Wells Fargo (WFC: 31.27 -0.76%) will vote at annual meetings this spring, because of the ruling. Wells did not contend the proposal at the SEC. In January, The New York City Comptroller John Liu asked the boards of the banks and JPMorgan Chase (JPM: 45.20 -0.59%) to conduct the reviews to catch potential problems related to robo-signing and other documentation issues.

Read full story… HOUSING WIRE

Florida’s Sen. Joe Negron is obviously in the dark! According to the Palm Beach Post

Negron also objected to Palmer using the term “foreclosure mills” when referring to South Florida law firms specializing in foreclosures, some of which are now being sued or under investigation for alleged fraud.

“In most occupations, whether it’s making doughnuts or running a sporting goods store, having more volume is better than having less volume. It may, in fact, be a commentary on your capability and your competitive advantage rather than something that we should disparage,” Negron said. “Foreclosure mill could also be called very busy law firm because you provide excellent service to your clients.”

Perhaps a better comparison would have been a puppy mill. Wouldn’t you agree it’s about quality, not quantity?

[image credit: Flickr]

MARILYN L. ELLIOTT and
MICHAEL S. ELLIOTT,

vs.

JPMORGAN CHASE BANK, as Trustee )
on Behalf of the Registered Certificate Holders )
of GSAMP Trust 2004-SEA2, Mortgage )
Pass-Through Certificates, Series 2004-SEA2,

Excerpt:

The Kafkaesque character of this litigation is difficult to deny. Having failed to receive a summons that may have been improperly served upon them, Marilyn and Michael Elliott learned that a default judgment had been entered against them, foreclosing on their home because of a mortgage that was allegedly in default. The home was sold in a sheriff?s sale to the lending bank. Feeling confused and suspicious, they turned to the Indiana Attorney General, who directed them to file a complaint with the Comptroller of the Currency. The Comptroller?s investigation revealed that Chase Bank, the ostensible plaintiff herein, is entirely unaware of the foreclosure proceeding. Moreover, Chase?s records show that the mortgage was paid in full in 2001. Chase, therefore, executed and recorded a satisfaction of mortgage. Notwithstanding the satisfaction of mortgage, Chase?s loan servicer—Ocwen Bank—continued to prosecute this action in Chase?s name, attempting to force the Elliotts out of their home even though there has never been a trial and the lending bank has declared that the mortgage was paid in full. Finding this situation untenable, we reverse and remand for trial.

Appellants-defendants Marilyn L. Elliott and Michael S. Elliott appeal the trial court?s order denying their motion for relief from judgment on the foreclosure complaint of JPMorgan Chase Bank (Chase). The Elliotts raise two issues, one of which we find dispositive: that they are entitled to relief from judgment pursuant to Trial Rule 60(B) because, during the pendency of this litigation, Chase executed and recorded a satisfaction of the mortgage. Finding that the Elliotts are entitled to relief from judgment, we reverse and remand for trial.

Continue reading below…

Scribd

via The Home Equity Theft Reporter a fantastic site!

• The Complaint alleges that CitiMortgage accepted billions in government bailout money under the Troubled Asset Relief Program (“TARP”) earmarked to help struggling homeowners avoid foreclosure. CitiMortgage, like other TARP-funded financial institutions, is contractually obligated to modify mortgage loans it services for homeowners who qualify under HAMP, a federal program designed to abate the foreclosure crisis by providing mortgage loan modifications to eligible homeowners.

• According to the lawsuit, CitiMortgage systematically slows or thwarts homeowners’ requests to modify mortgages, depriving borrowers of federal bailout funds that could save them from foreclosure. The bank ends up reaping the financial benefits provided by TARP-funds and also collects higher fees and interest rates associated with stressed home loans.

Scribd

By Robert Schmidt and Tom Schoenberg

(Updates with excerpt from letter in fourth paragraph.)

March 22 (Bloomberg) — Four more Republican state attorneys general are opposing a plan to resolve a nationwide probe of foreclosure and mortgage-servicing practices because the terms may foster a “moral hazard.”

In a letter today to Iowa Attorney General Tom Miller, a Democrat who has taken the lead in the investigation, the officials objected to new documentation requirements and principal reductions outlined in the proposed settlement submitted to the country’s top mortgage-servicing companies this month.