To continue reading the rest of the article, please click on the source link below:
https://www.reuters.com/markets/us/us-consumers-lower-incomes-face-loan-stress-while-banks-pull-back-2024-04-22/
Posted on 22 April 2024.
To continue reading the rest of the article, please click on the source link below:
https://www.reuters.com/markets/us/us-consumers-lower-incomes-face-loan-stress-while-banks-pull-back-2024-04-22/
Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 13 November 2023.
For the last 36 years, Rick and Laura Zinnick had a life in Nevada. But when their son and grandchildren decided to relocate to Oklahoma City, the Zinnicks decided to follow them, putting their four-bedroom house on one-third of an acre up for sale.
“This move was meant for us,” saidLaura Zinnick, 77. “I’m so glad we’ve been able to buy this house later in our life.”
To continue reading the rest of the article, please click on the source link below:
https://www.washingtonpost.com/business/2023/11/13/housing-market-boomer-buyers-mortgage-rates/
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 24 February 2023.
WASHINGTON — Just a small percentage of the at least $60 billion in unemployment payments estimated to be lost to fraud during the pandemic has been recovered, and time is running out to prosecute those who committed the crime.
The statute of limitations for many pandemic-related unemployment insurance fraud investigations is set to expire in 2025. Government watchdogs are pleading with Congress to act, asking House lawmakers in two public hearings held this year to give prosecutors an additional five years to pursue fraudsters who took money that should have gone to unemployed Americans during the pandemic.
“This is a once-in-a-century fraud scheme,” said McGregor Scott, who was appointed California’s fraud special counsel by Gov. Gavin Newsom in 2021. “This is the largest fraud scheme ever perpetrated on the taxpayers in the history of the United States. And so in the context of that, why not give law enforcement and prosecutors that extra time.”
To continue reading the rest of the article, please click on the source link below:
https://www.latimes.com/politics/story/2023-02-24/congress-statute-of-limitations-prosecuting-pandemic-era-unemployment-fraud
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 29 November 2022.
TRENTON – Two men, one from Watchung and the other from Long Hill, have pleaded guilty in federal court to conspiring to commit a mortgage fraud scheme that led to more than $3.5 million in losses.
Victor Santos, also known as Vitor Santos, 63, of Watchung, and Fausto Simoes, 69, of Long Hill, pleaded guilty by videoconference to conspiracy to commit bank fraud before U.S. District Judge Michael A. Shipp.
From September 2007 through November 2008, Santos, a real estate developer, and Simoes, an attorney, conspired with each other and others to fraudulently obtain mortgage loans with a total value of more than $4 million, court documents say.
Santos orchestrated the scheme to recruit fake, or “straw” buyers to purchase 12 properties in Newark. Using the identity and credit of these straw buyers allowed Santos, Simoes and their conspirators to conceal their identities from the lender as the actual purchasers of the properties, court papers say.
To continue reading the rest of the article, please click on the source link below:
https://www.mycentraljersey.com/story/news/crime/2022/11/29/nj-mortgage-fraud-bank-conspiracy/69677335007/
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 27 September 2022.
NEWARK, N.J. – A Somerset County, New Jersey, woman today admitted fraudulently obtaining over $1 million in federal Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL), U.S. Attorney Philip R. Sellinger announced.
Nivah Garcis, 51, of North Plainfield, New Jersey, pleaded guilty before U.S. District Judge Peter G. Sheridan in Trenton federal court to an information charging her with one count of conspiracy to commit bank fraud, three counts of wire fraud, and one count of money laundering.
According to documents filed in this case and statements made in court:
Garcis conspired with at least one individual to submit two fraudulent PPP loan applications to a lender on behalf of two purported businesses that she controlled, and further submitted three fraudulent EIDL loan applications to the U.S. Small Business Administration (SBA) on behalf of these businesses and another business that she owned. She then engaged in financial transactions with the loan proceeds, including for the purchase of property.
To continue reading the rest of the article, please click on the source link below:
https://www.justice.gov/usao-nj/pr/somerset-county-woman-admits-1-million-paycheck-protection-program-and-economic-injury
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 24 August 2022.
MONTGOMERY, Ala. (WSFA) – The process of prosecuting scammers can be a lengthy one, but Alabama Attorney General Steve Marshall explained the harsh reality is many of criminals get away unscathed.
“Those who engage in this behavior typically do not live in the jurisdiction of the state of Alabama,” Marshall said. “Many of them don’t live in the continental United States.”
That makes it incredibly difficult for law enforcement to recover the victim’s money and to hold these culprits accountable.
“The ability to prevent it from taking place to begin with is the key component for us in trying to make sure that people don’t fall victims to these crimes,” he said.
https://www.wsfa.com/2022/08/24/alabama-ag-prosecuting-scammers-remains-legal-challenge/
Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 01 September 2021.
There was a time when Black farms prospered.
Just two generations out of slavery, by 1910 Black farmers had amassed more than 16 million acres of land and made up about 14 percent of farmers. The fruit of their labors fed much of America.
Now, they have fewer than 4.7 million acres. Black farms in the U.S. plummeted from 925,000 to fewer than 36,000, according to the U.S. Department of Agriculture’s latest farm census. And only about one in 100 farmers is Black.
What happened?
To continue reading the rest of the article, please click on the source link below:
https://www.voanews.com/usa/black-us-farmers-awaiting-billions-promised-debt-relief
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 18 April 2019.
Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 08 October 2018.
HW-
Intercontinental Exchange, the parent company of the New York Stock Exchange, is now also the parent company of MERSCORP Holdings, as the companies announced Friday that ICE has acquired all of MERS.
The deal comes just over two years after ICE acquired a majority stake in MERSCORP, the owner of Mortgage Electronic Registrations Systems and operator of the MERS System, a national electronic registry that tracks the changes in servicing rights and beneficial ownership interests in U.S.-based mortgages.
Now, ICE owns all of MERS after acquiring the remaining stake in the company for an undisclosed sum.
[HW]
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD1 Comment
Posted on 04 October 2018.
ATLANTA & NEW YORK–(BUSINESS WIRE)–Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced it has acquired the remaining equity of MERSCORP Holding, Inc., owner of Mortgage Electronic Registrations Systems, Inc. (MERS). ICE has owned a majority equity interest in MERS since 2016. Price and terms of the transaction were not disclosed and will not be material to ICE’s earnings or have an impact on capital return plans.
“This is a natural evolution for our business and will provide benefits for participants throughout the industry.”
MERSCORP owns and operates the MERS System, a national electronic registry that tracks the changes in servicing rights and beneficial ownership interests in U.S.-based mortgage loans. Earlier this month, ICE successfully moved the MERS System infrastructure to the ICE Mahwah data center, an integral requirement for completing the final acquisition of the business.
“As the U.S. mortgage finance industry transitions from a paper-based process to more digital mortgages and electronic notes, MERS is uniquely positioned to provide a seamless process that will bring greater efficiencies to consumers, lenders and institutional investors,” said ICE Chairman and CEO Jeffrey C. Sprecher.
“ICE has a well-established track record of transitioning traditional analog businesses to digital marketplaces, and MERS represents another important chapter in that record. We’re excited to work with MERS as it embarks on their next stage of development.”
“ICE’s global infrastructure and experience in making markets more transparent and efficient will enhance the access, scalability and effectiveness of MERS for its more than 5,000 member institutions,” said Bill Beckmann, MERSCORP Holdings CEO. “This is a natural evolution for our business and will provide benefits for participants throughout the industry.”
For additional information on MERS, please visit www.mersinc.org. For additional information on ICE, please visit www.theice.com.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 and Fortune Future 50 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company raises more capital than any other exchange in the world, driving economic growth and transforming markets.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key information Documents (KIDS)”.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the SEC on February 7, 2018.
SOURCE: Intercontinental Exchange
ICE- CORP
Media Contact:
Damon Leavell
Damon.Leavell@theice.com
212-323-8587
or
Investor Contact:
Warren Gardiner
Warren.Gardiner@theice.com
770-835-0114
Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 09 July 2018.
A federal judge has ordered Credit Bureau Center, LLC and its owner, Michael Brown, to pay more than $5.2 million to return to consumers, to resolve FTC charges that they deceived people with fake rental property ads and deceptive promises of “free” credit reports, and then tricked them into enrolling into a costly monthly credit monitoring service.
Brown and his company, formerly known as MyScore LLC, and their co-defendants placed Craigslist ads for rental properties that did not exist or that they had no right to offer for rent. They impersonated property owners and offered property tours if consumers would first obtain credit reports and scores from their websites. These sites claimed to provide “free” credit reports and scores, but then enrolled consumers in a credit monitoring service with monthly charges of $29.94. Many people did not realize they were enrolled until they noticed unexpected charges on their bank or credit card statements, sometimes after several billing cycles.
At the FTC’s request, a federal court halted the scheme during litigation. In October 2017, the FTC obtained a court order that required Brown’s co-defendants Danny Pierce and Andrew Lloyd to pay a total of $762,000 to resolve the charges against them.
The order announced today grants the FTC’s motion for summary judgment and enters a final judgment and order against Brown and his company, finding they violated the FTC Act, the Restore Online Shoppers’ Confidence Act, the Fair Credit Reporting Act, and the Free Annual File Disclosures Rule.
As part of the $5.2 million judgment, the court entered a permanent injunction that bans Brown and his company from selling any credit monitoring service with a negative option feature, and from misrepresenting material facts about any product or service. The order also specifies how they must monitor their affiliate marketers in the future. For example, they must require certain information from affiliates, including their name and location, and advance copies of all marketing materials. They also must investigate any complaints about affiliate marketers and end the affiliation if they find practices the order prohibits.
The order requires Brown and his company to make certain disclosures when selling any product or service with a negative option feature, and when offering free credit reports. It also bars them from using billing information to obtain payments from consumers without first obtaining their express informed consent.
In addition, the order prohibits Brown and his company from profiting from consumers’ personal information obtained as part of the scheme and failing to dispose of it properly.
The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). Like the FTC on Facebook(link is external), follow us on Twitter(link is external), read our blogs and subscribe to press releases for the latest FTC news and resources.
CONTACT FOR CONSUMERS:
Consumer Response Center
877-382-4357
CONTACT FOR NEWS MEDIA:
Frank Dorman(link sends e-mail)
Office of Public Affairs
202-326-2674
STAFF CONTACTS:
Guy G. Ward
FTC Midwest Region
312-960-5612
Samuel A.A. Levine
Bureau of Consumer Protection
312-960-5634
_________________________________________________
162 3120
X170014
17-cv-00194
Federal Injunctions
Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 25 June 2018.
Housing Wire-
The momentum surrounding the digital mortgage process continues to grow, with technology vendors developing new products and solutions at every turn. However, piecing together the various components into a seamless process that integrates well with every other solution is a challenge that is hindering wider adoption.
While some companies are new to the digital mortgage landscape, MERSCORP Holdings has operated the MERS eRegistry since 2004 and understands the complexity — and the potential — of digital implementation.
The company recently partnered with eOriginal to launch an eNote solution that expands their MERS eSuite, enabling the creation, execution, vaulting and management of the electronic promissory note, or eNote, to mortgage originators across the industry.
“Our members asked for this because they’ve been able to take resources that had been dedicated to building infrastructure for regulatory implementation and shift them to finding ways to improve the borrower experience and finding efficiencies that would decrease the cost of origination,” said Brendon Weiss, COO of MERSCORP Holdings. “Ultimately, MERS’ goal is to help in the digital transition and we’ll continue to work with any and all vendors that are looking to make sure this transition occurs.”
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 05 April 2018.
Them Report-
MERSCORP Holdings, Inc. and eOriginal, Inc.has launched a new solution offering that will enable originators to accelerate entry into the digital mortgage ecosystem. MERS eNote Solutions, part of the MERS eSuite, will enable the creation, execution, registration, and management of the electronic promissory note, or eNote, to mortgage originators across the industry.
“MERSCORP Holdings is proud to provide technology-based solutions that add value to our members’ bottom line,” said Brendon Weiss, MERSCORP Holdings COO. “Our members identified several gaps that need to be addressed to increase eNote adoption, and this new solution fills a significant need for originators seeking to leverage existing vendor relationships.”
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 01 March 2018.
Fortune-
Equifax Inc., the credit-reporting firm that suffered a massive data breach last year, said it will notify an additional 2.4 million U.S. consumers that they were affected by the hack.
The customers were among the 145.5 million people whose identities were stolen last year, but Equifax was unable to confirm who they were at the time because only partial driver’s license information was taken, the Atlanta-based credit-reporting company said Thursday in a statement. The consumers will be notified and the firm will offer them free credit-monitoring and identity-protection services.
Equifax disclosed the cyberattack in September, resulting in Congressional hearings and the departure of then Chief Executive Officer Richard Smith. The stock also has taken a beating, slumping 21 percent since the disclosure. Paulino do Rego Barros Jr. was named interim CEO and the company hired Jamil Farshchi from Home Depot Inc. last month as chief information security officer in an effort to boost its oversight.
“We continue to take broad measures to identify, inform and protect consumers who may have been affected by this cyberattack,” Barros said in the statement.
[FORTUNE]
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 12 February 2018.
FOR IMMEDIATE RELEASE
2018-13
Washington D.C., Feb. 12, 2018 —
The Securities and Exchange Commission today instituted an enforcement action against Deutsche Bank Securities Inc., which has agreed to repay more than $3.7 million to customers, which includes $1.48 million that was ordered as disgorgement.
The SEC’s investigation found that traders and salespeople made false and misleading statements while negotiating sales of commercial mortgage-backed securities (CMBS). According to the SEC’s order, customers overpaid for CMBS because they were misled about the prices at which Deutsche Bank had originally purchased them. According to the SEC’s order, Deutsche Bank failed to have compliance and surveillance procedures in place that were reasonably designed to prevent and detect the misconduct that consequently increased the firm’s profits on CMBS transactions to the detriment of its customers.
The SEC’s order finds supervisory failures by the former head trader of Deutsche Bank’s CMBS trading desk, Benjamin Solomon, who did not take appropriate action after becoming aware of false statements made to customers by traders under his supervision, including specific misrepresentations about the prices that Deutsche Bank paid for the CMBS.
“We’re committed to ensuring that firms communicate accurate pricing information when transacting with customers in opaque markets,” said Daniel Michael, Chief of the SEC Enforcement Division’s Complex Financial Instruments Unit. “Deutsche Bank and Solomon failed to keep watch as traders generated profits for the firm at the expense of CMBS customers by misrepresenting purchase prices and other important details.”
To settle the charges, Deutsche Bank agreed to reimburse customers the full amount of firm profits earned on any CMBS trades in which a misrepresentation was made. According to a payment schedule in the order, Deutsche Bank will distribute more than $3.7 million. Deutsche Bank also agreed to pay a $750,000 penalty. Solomon agreed to pay a $165,000 penalty and serve a 12-month suspension from the securities industry.
Deutsche Bank and Solomon consented to the SEC’s order without admitting or denying the findings. The order notes that the penalty amounts reflect substantial cooperation by Deutsche Bank and Solomon during the SEC’s investigation, including remedial efforts by the firm to improve its internal controls, compliance training, and surveillance efforts.
The SEC’s investigation was conducted by staff in the Complex Financial Instruments Unit and the New York Regional Office, including William Finkel, Elisabeth Goot, and Richard Hong. The case was supervised by Mr. Michael.
###
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 15 January 2018.
The Federal Reserve Board on Friday announced the termination of enforcement actions related to residential mortgage loan servicing and foreclosure processing issued in 2011 and 2012 against 10 banking organizations. The Board also announced civil money penalties totaling $35.1 million against five of these 10 organizations that had not yet been fined for their mortgage servicing deficiencies related to those enforcement actions.
When it issued the mortgage servicing enforcement actions, the Board announced that it believed monetary penalties were appropriate for all firms subject to the actions for their mortgage servicing deficiencies. The Board previously assessed penalties against the other firms under mortgage servicing enforcement actions. With the penalties announced today, the Board has now assessed penalties totaling approximately $1.1 billion against all Federal Reserve supervised firms under mortgage servicing enforcement actions.
The 10 banking organizations are: Ally Financial Inc.; Bank of America Corporation; CIT Group, Inc. (as successor to IMB HoldCo LLC); The Goldman Sachs Group, Inc.; HSBC North America Holdings, Inc.; JPMorgan Chase & Co.; Morgan Stanley; The PNC Financial Services Group, Inc.; SunTrust Banks, Inc.; and U.S. Bancorp. The actions required all of the firms to improve oversight of residential mortgage loan servicing and required the firms with mortgage servicing subsidiaries supervised by the Federal Reserve to correct deficiencies in residential mortgage loan servicing and foreclosure processing. The termination of the actions was based on evidence of sustainable improvements in the firms’ oversight and mortgage servicing practices.
In addition, the Board announced the termination of a supplemental agreement with Ally, issued in 2012 after Ally’s mortgage servicing subsidiaries sought bankruptcy protection, which addressed the parent company’s contingent obligations under the 2011 enforcement action against Ally. This agreement is no longer necessary after the termination of the 2011 action announced on Friday.
The civil money penalties announced today are: $14 million against Goldman Sachs; $8 million against Morgan Stanley; $5.2 million against CIT (as successor to IMB); $4.4 million against U.S. Bancorp; and $3.5 million against PNC.
Also on Friday, the Board announced the termination by the Board and other federal financial regulatory agencies of joint enforcement actions issued in 2011 against Lender Processing Services, Inc. (LPS), which was succeeded by ServiceLink Holdings, LLC, and against MERSCORP Holdings, Inc., formerly known as MERSCORP, Inc. (MERS). These enforcement actions addressed deficiencies in the foreclosure-related services LPS and MERS each provided to entities regulated by the agencies. The Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation are parties to the action against LPS. Each of these agencies as well as the Federal Housing Finance Agency are parties to the action against MERS. The termination of the actions was based on evidence of sustainable improvements in the foreclosure-related practices of LPS and MERS.
For media inquiries, call 202-452-2955.
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 03 December 2017.
COMING TO YOU LIVE DIRECTLY FROM THE DUBIN LAW OFFICES AT HARBOR COURT, DOWNTOWN HONOLULU, HAWAII
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.
Listeners to the Foreclosure Hour are familiar with the manner in which MERS has baffled our legal system for most of the past two decades since its artificial creation, reportedly formed in the Washington D.C. law offices of Covington & Burling.
Incorporated originally by Fannie Mae and Freddie Mac, the Big Banks, and one large title company, its purported original purpose was to expedite with cost savings the tracking of the securitized buying and selling and slicing and dicing of ownership interests in mortgages in the United States.
In reality, however, MERS evolved into a blatant attempt in part to nullify the Tenth Amendment to the United States Constitution by substituting a quasi-federal government sponsored private mortgage recording system in place of the historical control of the tracking of land titles and ownership in real property by States through their individual recording offices.
And for many reasons, reviewed on several of our past shows, MERS became in reality an unregulated underground network composed of a proliferation of white collar thieves and robo-signers covering up their fraudulent activities through false record keeping, which at first went largely unnoticed by state and federal judges.
Increasingly, however, legal challenges to MERS began to unravel that Rubik’s Cube, as it were, which recently reached a new legal plateau in the case of Robinson v. Mortgage Electronic Registration Systems, which MERS dispute went from the Los Angeles County Superior Court to the United States District Court for the Central District of California to the United States Court of Appeals for the Ninth Circuit to the United States Supreme Court.
We are grateful to have live on our radio show today Dan Robinson and his attorney Al West, who will provide us with their firsthand experiences challenging in court the legal and constitutional standing of MERS, and lessons learned.
Additionally, John and I will offer our own suggestions concerning how the American Legal System can learn and profit by their experiences.
Please go to our website, www.foreclosurehour.com, and join your fellow homeowners in the Homeowners SuperPac today.
A Membership Application is posted there waiting for your support.
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Submit questions to info@foreclosurehour.com
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© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 15 November 2017.
LAW-
Attorneys for the plaintiffs in a debt collection suit lauded a decision Monday by the U.S. Court of Appeals for the Second Circuit, calling it a major victory for low-income people facing aggressive and potentially illegal collection practices.
In Arias v. Gutman, Mintz, Baker & Sonnenfeldt, 16?2165?cv, the panel of Circuit Judges Guido Calabresi and Raymond Lohier Jr., along with U.S. District Judge Katherine Forrest of the Southern District of New York, sitting by designation, vacated the motion for judgment on the pleadings by U.S. District Judge George Daniels for the Southern District of New York in a suit against Gutman, Mintz, Baker & Sonnenfeldt for violations of the Fair Debt Collection Practices Act. The panel remanded the case for further proceedings.
“We’ve never had a court ruling that looks at these practices before,” Wilner said. “To have a court say so clearly that the representations are deceptive, that the conduct is unfair, really is just so important.”
[LAW]
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 01 November 2017.
Posted in STOP FORECLOSURE FRAUD1 Comment
Posted on 29 October 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)
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It has often been said that the best way to rob a bank is to own one.
There have been bank robberies throughout American history conducted by easily identified outside organized criminal gangs, ranging from Jessie James and the Dalton Brothers to various geographic Mafia groups.
None, however, has been more successful yet as diverse and as little known as those who have stolen an unprecedented many trillions of dollars in recent decades from hundreds of millions of victims, such as Homeowners and GSE Investors, and others owning stock in, for instance, IndyMac and Washington Mutual, to name but a few supposedly “failed” institutions.
In every case, federal insiders have manipulated Fannie Mae, Freddie Mac, MERS, the FDIC, and the Justice Department to enable them to loot trillions of dollars of the property and profits of Americans, while the evidence of such theft has been hidden from our Courts.
This disorganized theft has been so extraordinarily diverse, manifesting itself in so many different forms, and so well covered up by participating federal officials, that the full extent of such disorganized criminal activity has never been fully identified or even completely addressed, preventing exposure in our Courts.
On this Sunday’s show we will begin to unravel the complexity of this enormous theft by identifying who the offenders and their victims have been, how and why the full extent of the theft has been unknown, and propose ways still available for combatting it, including suggesting that the victims, principally Homeowners and GSE Investors, should combine together to wake up our Courts.
Listen to today’s show, posted on our website at www.foreclosurehour.com, and find out how you can change American history, beat the banks, by joining the Homeowners SuperPAC today.
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CALL IN AT (808) 521-8383 OR TOLL FREE (888) 565-8383
Have your questions answered on the air.
Submit questions to info@foreclosurehour.com
The Foreclosure Hour is a public service of the Dubin Law Offices
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© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 23 October 2017.
Statements From Experts at Public Citizen and Americans for Financial Reform
“It’s no surprise to see the Steven Mnuchin-led U.S. Treasury Department aim to parachute into the forced arbitration dispute to sabotage the rule on behalf of big banks. Treasury’s main complaint is that the U.S. Consumer Financial Protection Bureau (CFPB) rule will enable consumers to seek effective remedy against corporate wrongdoers. This is true – but it’s precisely the purpose of the rule.
What Treasury’s so-called analysis fails utterly to grapple with is that consumers have no effective redress in individualized arbitration, especially for small-dollar rip-offs affecting a broad range of people. Class-action lawsuits advance justice by transferring ripped-off money back to consumers (and attorneys are paid only if they recover for their clients). The Treasury Department’s report treats this feature as a bug. Effective remedies deter financial industry wrongdoing, while fake remedies encourage more rip-offs and abuses.
Treasury might better have titled its report ‘Enabling Wells Fargo, Equifax and Other Wrongdoers.’”
– Robert Weissman, president, Public Citizen
“The Treasury report willfully ignores the fact that class actions returned $2.2 billion to consumers between 2008-2012 – after deducting attorneys’ fees and court costs. That hardly seems like ‘no relief.’ What’s more, the Economic Policy Institute found that the average consumer who goes to arbitration ends up having to pay their bank or lender $7,725 in fees. It is clear that consumers derive benefits from class-action lawsuits and lose when forced into secret arbitration.”
Real world experience makes it clear that if Wall Street banks save money by avoiding litigation – whether that’s court costs or attorneys’ fees – that money stays in their own pockets. The rest of us continue to pay the costs of consumer rip-offs, which forced arbitration protects as a workable business model.”
– Lisa Donner, executive director, Americans for Financial Reform
###
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Posted in STOP FORECLOSURE FRAUD0 Comments
Posted on 27 August 2017.
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———————
Foreclosure Workshop #41: MERS v. Wise Revisited — What Every Homeowner Needs To Know To Defeat the Claimed Standing of Pretender Lenders
It is a matter of common knowledge that the vast majority of original promissory notes, allonges, mortgages, and mortgage assignments in the United States have either been lost through incompetence in the invisible securitized trust market or intentionally destroyed after being digitized for mere convenience.
Also, some securitized trusts and some other owners of mortgage loans such as Fannie Mae and Freddie Mac have intentionally instructed their loan servicers in writing to hide their ownership of mortgage loans, brazenly printing such servicer guidelines on their websites.
Accelerated by the mortgage crisis of 2008, the need by foreclosing plaintiffs for proof of standing in court in an ever-growing number of foreclosure cases at first required their re-creation of mortgages and mortgage assignments through the use of tens of thousands of robo-signers producing as many as 500 false, notarized documents per day.
However, due to the widespread exposure of such robo-signing abuses, foreclosing plaintiffs have had to gradually switch to creating their own manufacturing plants, instead photoshopping promissory notes, endorsements, and allonges with the slogan that “the mortgage follows the note.”
Most courts, intellectually paralyzed by The Rule Ritual, have continued to look the other way, applying outdated or inapplicable rules of evidence and jurisdictional concepts meant for the adjudication of traditional mortgage loan issues, inadvertently protecting foreclosing securitized plaintiffs despite inadequate ownership paperwork nevertheless freely admitted into evidence.
The securitized trust curtain as it were, however, is now lifting, starting with State Courts beginning to insist that a foreclosing plaintiff must prove ownership of the original promissory note at the time of the filing of a foreclosure complaint.
More serious questioning of the standing of pretender lenders can be anticipated in State Courts in the next few years.
On today’s show we will give our listeners an advance understanding what to expect and how best to take advantage of the new trends and to defeat the standing of pretender lenders in present and future foreclosure cases.
Starting with the reminder by the California Supreme Court in Yvanova that strangers to a mortgage loan should not be allowed to come into court and foreclose just because a borrower is found behind in mortgage payments, to Justice Black’s conclusion in Hazel-Atlas that there is no statute of limitations for fraud on the court, we will briefly explore a checklist of the many expected court standing battles that lie ahead and how our listeners can take immediate advantage of such trends.
We will review the following emerging standing issues, time permitting:
1. the attempts by those claiming to own loans entering foreclosure cases after filed,
2. the ratification of pretender lender filings,
3. the inapplicability of real party in interest rules,
4. the effect of a voluntary merger on mortgage ownership,
5. the effect of a government receivership on mortgage ownership,
6. the effect of Fannie and Freddie owning loans behind the scenes,
7. the inapplicability of the doctrine of res judicata,
8. the standing issues when raised by a Rule 60(b) motion,
9. the standing issues when raised only at sale confirmation,
10. the false distinction regarding standing issues blocking foreclosure and standing issues supporting damages,
11. the void vs. voidable intellectual quagmire,
12. the effect of bankruptcy breaking chain of loan ownership,
13. the effect of fraud, including fraud on the court,
14. the discrepancies in a pretender lender’s name, and
15. the doctrine of waiver affecting standing.
Increasing our listener’s knowledge of any of these standing issues could well make a difference in the outcome of an individual foreclosure case, maybe yours.
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