2011 October 31 | FORECLOSURE FRAUD | by DinSFLA

Archive | October 31st, 2011

Keep Wall Street Occupied, Get Creative

Keep Wall Street Occupied, Get Creative

A fast, easy, free, and non-violent way to drive the big banks out of their greedy little minds is sitting in your mailbox right now. You just don’t know it yet.

Funny, I personally was told about this a few months ago. This woman was getting 2-3 of these mailers from the same institution each week. She told me she did this! Brilliant!

 

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Adam Levitin | The Multistate Settlement Lottery: Bupkis

Adam Levitin | The Multistate Settlement Lottery: Bupkis

Remember that it’s not just a bunch of AGs at the table here. It’s also the Obama Administration. And therein lies the problem…

Credit Slips-

The NY Times had some details today about the multi-state attorney general mortgage servicing settlement in the works. It looks every bit as awful as one might have feared. Here’s the criticial take-away:  this is bupkis. It gives meaningless relief to a meaningless number of randomly or adversely selected homeowners.  It doesn’t do justice, even by halves.

First, though, there’s a detail reported in Gretchen Morgenson’s otherwise insightful piece that I have on good source is incorrect.  The piece states that the banks would be doing principal write-downs on loans they own or service.  That’s gotta be incorrect.  The banks can do principal write-downs only on loans that they own.  They have no legal authority to pledge write-downs on loans that they service on behalf of investors.  (Remember the Greenwich Financial suit against Countrywide for doing just that?)

There’s a critical implication here, then about the scope of the multi-state settlement:  at best 20% of the population of underwater mortgagees will be helped by this settlement, say 2.2 million homeowners.  The other 8.8 million (and probably 10 million by my reckoning) are SOL.  How do you think they’re going to feel about their AGs?  About their President?  Too many times have American homeowners been promised help without receiving any.  It’s getting old.

[...]

[CREDIT SLIPS]

© 2010-12 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
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Judges Are for Sale — and Special Interests Are Buying

Judges Are for Sale — and Special Interests Are Buying

A new report details how big business and corporate lobbyists are packing courts with judges who put special interests ahead of the public interest

TIME-

The Occupy Wall Street movement is shining a spotlight on how much influence big-money interests have with the White House and Congress. But people are not talking about how big money is also increasingly getting its way with the courts, which is too bad. It’s a scandal that needs more attention. A blistering new report details how big business and corporate lobbyists are pouring money into state judicial elections across the country and packing the courts with judges who put special interests ahead of the public interest.

A case in point: West Virginia. In 2007, the West Virginia Supreme Court, on a 3-2 vote, threw out a $50 million damage award against the owner of a coal company. Funny thing: the man who would have had to pay the $50 million had spent $3 million to help elect the justice who cast the deciding vote. The West Virginia ruling was so outrageous that in 2009 the United States Supreme Court overturned it. But that was unusual. In most cases, judges are free to decide cases involving individuals and groups that have paid big money to get them elected.

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[VIDEO] Trooper Arrests Cop At Gunpoint Going 120 MPH!

[VIDEO] Trooper Arrests Cop At Gunpoint Going 120 MPH!

I had to post this and sorry if off topic… this goes to show that no one is above the law.

Miami Police going 120mph to an off duty job… Trooper isn’t having it!

 

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Marshall Watson law office cutting staff, focusing on compliance

Marshall Watson law office cutting staff, focusing on compliance

Now for those who are still working in these firms, keep in mind this won’t last much longer.

HW-

The Law Offices of Marshall C. Watson, a Florida-based foreclosure law firm that paid $2 million to settle an attorney general investigation into the firm’s operational processes earlier this year, is laying off staff members and hiring new employees for its compliance division.

“To streamline our processes and minimize inefficiencies, the firm has had to eliminate temporary and overlapping positions,” according to a spokesperson for the firm. “We are, however, adding positions to our compliance department as part of our continuing commitment to providing quality service to our clients.”

[HOUSING WIRE]

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