Stop Foreclosure Fraud - Part 2

Archive | STOP FORECLOSURE FRAUD

Wells Fargo: There were nearly 70 percent more potentially fake accounts opened than originally thought

Wells Fargo: There were nearly 70 percent more potentially fake accounts opened than originally thought

CNBC-

Wells Fargo & Co. said it uncovered nearly 70 percent more potentially unauthorized consumer and small-business accounts than originally thought after an independent investigation into a sales scandal that erupted last year.

The disclosure on Thursday marks the conclusion of that investigation, the bank said. Earlier this month, Wells Fargo CEO Timothy Sloan warned his employees to brace for more negative headlines, saying the review by an outside firm could reveal a “significant increase” in the number of accounts involved.

On Thursday, the bank said the review of 165 million retail accounts opened from January 2009 to September 2016 identified 3.5 million as potentially unauthorized. That is up from the 2.1 million accounts originally identified in a narrower review that only covered 93.5 million accounts opened from May 2011 to mid-2015.

[CNBC]

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HUD ANNOUNCES DISASTER ASSISTANCE FOR VICTIMS OF HURRICANE HARVEY

HUD ANNOUNCES DISASTER ASSISTANCE FOR VICTIMS OF HURRICANE HARVEY

HUD No. 17-068
HUD Office of Public Affairs
(202) 708-0685
http://www.hud.gov/news/index.cfm
FOR RELEASE
Monday
August 28, 2017

 

HUD ANNOUNCES DISASTER ASSISTANCE FOR VICTIMS OF HURRICANE HARVEY
Foreclosure protection offered to displaced families

WASHINGTON – U.S. Housing and Urban Development Secretary Ben Carson today announced HUD will speed federal disaster assistance to the State of Texas and provide support to homeowners and low-income renters forced from their homes due to Hurricane Harvey. To date, President Trump issued a disaster declaration for the following counties (more counties may be added as more disaster data becomes available):

Aransas, Bee, Brazoria, Calhoun, Chambers, Fort Bend, Galveston, Goliad, Harris, Jackson, Kleberg, Liberty, Matagorda, Nueces, Refugio, San Patricio, Victoria and Wharton.

The President’s declaration allows HUD to offer mortgage/foreclosure relief and other assistance to certain families living in impacted counties.

“Today, our thoughts and prayers are with those who are beginning the process of recovering from Hurricane Harvey,” said Secretary Carson. “As FEMA begins to assess the damage and respond to the immediate needs of residents, HUD will be there to offer assistance and support the longer-term housing recovery efforts.”

HUD is:

  • Assisting the State of Texas and local governments in re-allocating existing federal resources toward disaster relief– HUD’s Community Development Block Grant (CDBG) and HOME programs give the State and communities the flexibility to redirect millions of dollars in annual formula funding to address critical needs, including housing and services for disaster victims. HUD is currently contacting State and local officials to explore streamlining the Department’s CDBG and HOME programs in order to expedite the repair and replacement of damaged housing;
  • Granting immediate foreclosure relief– HUD is granting a 90-day moratorium on foreclosures and forbearance on foreclosures of Federal Housing Administration (FHA)-insured home mortgages.  There are approximately 200,000 FHA-insured homeowners living in these impacted counties;
  • Making mortgage insurance available– HUD’s Section 203(h) program provides FHA insurance to disaster victims who have lost their homes and are facing the daunting task of rebuilding or buying another home. Borrowers from participating FHA-approved lenders may be eligible for 100 percent financing;
  • Making insurance available for both mortgages and home rehabilitation– HUD’s Section 203(k) loan program enables those who have lost their homes to finance the purchase or refinance of a house along with its repair through a single mortgage. It also allows homeowners who have damaged houses to finance the rehabilitation of their existing single-family home; and
  • Offering Section 108 loan guarantee assistance– HUD will offer state and local governments federally guaranteed loans for housing rehabilitation, economic development and repair of public infrastructure.
  • Information on housing providers and HUD programs – The Department will share information with FEMA and the State on housing providers that may have available units in the impacted counties. This includes Public Housing Agencies and Multi-Family owners. The Department will also connect FEMA and the State to subject matter experts to provide information on HUD programs and providers.

Read about these and other HUD programs designed to assist disaster victims.

 

###

HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available on the Internet
at www.hud.gov and http://espanol.hud.gov.

You can also connect with HUD on social media and follow Secretary Carson on Twitter and Facebook or sign up for news alerts on HUD’s Email List.

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Stop the next Wells Fargo scandal before it happens

Stop the next Wells Fargo scandal before it happens

LA Times-

What’s the biggest criminal enterprise in California? MS-13? The remnants or successors to the Crips and the Bloods? The Mexican Mafia? If we’re talking about the sheer volume of offenses, the answer is clear: Wells Fargo.

It’s no easy task to keep track of the San Francisco-based megabank’s misdeeds, but here’s a rough tally: Wells has admitted that, beginning in 2011, it opened approximately 2 million bank and credit card accounts for customers who did not need, seek or even know about them, plunging a number of these unknowing customers into default. Earlier this month, the bank announced it may have “significantly” undercounted the number of unauthorized accounts. Goldman Sachs estimated last year that more than half-a-million of the customers who’d been saddled with these accounts may have had to pay an extra $50 million to borrow money as a result of their damaged credit.

This July, Wells also acknowledged that, starting in 2012, it had charged a further 570,000 customers for auto insurance that they neither needed nor sought, pushing 274,000 of them into delinquency on their combined car-and-insurance payments, which led to nearly 25,000 wrongful vehicle repossessions.

[LA TIMES]

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‘Tremendous amount of material’ to examine in Wells Fargo probe, U.S. Attorney says

‘Tremendous amount of material’ to examine in Wells Fargo probe, U.S. Attorney says

Charlotte Observer-

Federal prosecutors continue to investigate sales practices at Wells Fargo, the U.S. Attorney in Charlotte told the Observer on Wednesday, but she offered no further update on where the probe stands.

A year ago next week, Wells Fargo agreed to pay $185 million in penalties to settle allegations that its employees created more than 2 million unauthorized customer accounts to meet aggressive sales goals. Soon after, the Observer and other media outlets reported that the U.S. Attorney’s offices in Charlotte and San Francisco, where the bank has major employment hubs, were also probing the practices.

“There is a tremendous amount of material to sift through,” Jill Westmoreland Rose, the U.S. Attorney for the Western District of North Carolina, said in an interview. “With our partners in the Northern District of California, we continue to do that.”

[CHARLOTTE OBSERVER]

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Homeowner’s lawsuit says Wells Fargo charged improper mortgage fees

Homeowner’s lawsuit says Wells Fargo charged improper mortgage fees

Reuters-

A homeowner has filed a lawsuit accusing Wells Fargo & Co (WFC.N) of improperly charging thousands of customers nationwide to lock in interest rates when their mortgage applications were delayed.

Filed on Monday in San Francisco federal court, the lawsuit said Wells Fargo managers pressured employees to blame homeowners for the delays, sometimes by falsely stating that paperwork was missing, so homeowners could be stuck with extra fees.

Wells Fargo Spokesman Tom Goyda said the bank is reviewing past practices on rate lock extensions and will take steps for customers as appropriate.

[REUTERS]

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STATE-BOSTON RETIREMENT SYSTEM v BANK OF NOVA SCOTIA | This multitrillion-dollar suit can’t go unnoticed

STATE-BOSTON RETIREMENT SYSTEM v BANK OF NOVA SCOTIA | This multitrillion-dollar suit can’t go unnoticed

NY POST-

There was a major development in a lawsuit last week that every investor should know about — and worry about.

But nobody is paying attention.

A New York federal judge appointed three law firms to serve as lead counsels in a multitrillion-dollar litigation accusing Goldman Sachs, Barclays Capital and 18 other financial institutions of rigging the market for US government securities.

This is a civil case, but there is also a federal criminal investigation into this matter that will probably go nowhere because there are so many Goldman Sachs alumni in the Trump administration.

[NY POST]

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK

STATE-BOSTON RETIREMENT SYSTEM, on
behalf of itself and all others similarly situated,
Plaintiff;

vs.

BANK OF NOVA SCOTIA, NEW YORK
AGENCY; BMO CAPITAL MARKETS CORP.;
BNP PARIBAS SECURITIES CORP.; BARCLAYS
CAPITAL INC.; CANTOR FITZGERALD & CO.;
CITIGROUP GLOBAL MARKETS INC.; CREDIT
SUISSE SECURITIES (USA) LLC; DAIWA
CAPITAL MARKETS AMERICA INC.;
DEUTSCHE BANK SECURITIES INC.;
GOLDMAN, SACHS & CO.; HSBC SECURITIES
(USA) INC.; JEFFERIES LLC; J.P. MORGAN
SECURITIES LLC; MERRILL LYNCH, PIERCE,
FENNER & SMITH INCORPORATED; MIZUHO
SECURITIES USA INC.; MORGAN STANLEY &
CO. LLC; NOMURA SECURITIES
INTERNATIONAL, INC.; RBC CAPITAL
MARKETS, LLC; RBS SECURITIES INC.; SG
AMERICAS SECURITIES, LLC; TD SECURITIES
(USA) LLC; and UBS SECURITIES LLC,
Defendants.

Down Load PDF of This Case

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REPORT | Instead of Helping Struggling Homeowners, TARP Funds Went to Barbeques, Employee Bonuses, Legal Expenses, Car Allowances and Other Unnecessary Expenses

REPORT | Instead of Helping Struggling Homeowners, TARP Funds Went to Barbeques, Employee Bonuses, Legal Expenses, Car Allowances and Other Unnecessary Expenses

State Housing Agencies Charged $3 Million in Unnecessary Expenses to the Hardest Hit Fund

~

Report Cover
~
Instead of helping struggling homeowners, TARP funds went to barbeques, employee bonuses, legal expenses, car allowances and other unnecessary expenses.
~

~

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TFH 8/27 | Foreclosure Workshop #41: MERS v. Wise Revisited — What Every Homeowner Needs To Know To Defeat the Claimed Standing of Pretender Lenders

TFH 8/27 | Foreclosure Workshop #41: MERS v. Wise Revisited — What Every Homeowner Needs To Know To Defeat the Claimed Standing of Pretender Lenders

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 27

———————
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.

.
Host: Gary Dubin Co-Host: John Waihee

.

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

Past Broadcasts

EVERY SUNDAY
3:00 PM HAWAII
6:00 PM PACIFIC
9:00 PM EASTERN
ON KHVH-AM
(830 ON THE DIAL)
AND ON
iHEART RADIO

The Foreclosure Hour 12

 

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Judge throws out $458,000 condo sale, says Clearwater attorney tricked bidders

Judge throws out $458,000 condo sale, says Clearwater attorney tricked bidders

Tampa Bay Times-

Pinellas County Circuit Judge Jack St. Arnold on Monday threw out the $458,100 sale of a gulf-front condo because of what he called an “unscrupulous” and “conniving” scheme to trick bidders at a foreclosure auction.

His ruling means that the owners of Orlando Realty Group will get back the money they bid on what turned out to be a second mortgage held by a company connected to Clearwater attorney Roy Skelton. Only later did the bidders discover that a different lender had a superior first mortgage and could soon foreclose, leaving them with no condo and out nearly a half million dollars.

While he rapped Orlando Realty for not doing sufficient due diligence before bidding, St. Arnold had especially harsh words for Skelton.

“Clearly you set a trap for unwary buyers,” the judge said.

[TAMPA BAY TIMES]

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Eleventh Circuit Moves Toward Bright Line Rule That Debtors Cannot Retain Real Property Post- Discharge Without Reaffirming the Mortgage Debt

Eleventh Circuit Moves Toward Bright Line Rule That Debtors Cannot Retain Real Property Post- Discharge Without Reaffirming the Mortgage Debt

Lexology-

Last year, Burr & Forman lawyers won a decisive victory in the Eleventh Circuit, in the case of In re Failla, 838 F.3d 1170 (11th Cir. 2016). In Failla, the Eleventh Circuit held that a debtor who files a statement of intention to “surrender” his or her house in bankruptcy may not oppose the secured creditor’s foreclosure proceeding in state court. Failla is a significant victory for secured creditors for two primary reasons. First, the Eleventh Circuit interpreted the meaning of “surrender,” as used in 11 U.S.C. § 521(a)(2), and concluded that a debtor who says he will “surrender” collateral must relinquish his rights in the property, including the right to possess and use it and the right to defend a foreclosure proceeding. Second, while secured creditors can ask state court judges to enforce a debtor’s statement of intention to surrender through the doctrine of judicial estoppel, the Failla opinion confirms that secured creditors may also seek to reopen bankruptcy cases to compel a debtor to surrender based, in part, on the bankruptcy court’s statutory authority to remedy abuses of the bankruptcy system. A more detailed discussion of the court’s legal analysis in Failla is available at burr.com by clicking here.

About a month after the Failla opinion was issued, Burr & Forman lawyers were again on the prevailing side of an Eleventh Circuit decision, in Jones v. CitiMortgage, Inc., 666 F. App’x 766 (11th Cir. 2016). In Jones, the debtor filed a statement of intention to reaffirm the secured debt on his home during bankruptcy, but a reaffirmation agreement was never actually filed.

[LEXOLOGY]

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Spokeo: On Remand From The U.S. Supreme Court, The Ninth Circuit Finds Plaintiff Has Standing, Again

Spokeo: On Remand From The U.S. Supreme Court, The Ninth Circuit Finds Plaintiff Has Standing, Again

Lexology-

Seyfarth Synopsis: Following remand from the U.S. Supreme Court, the Ninth Circuit found that the plaintiff suing Spokeo, Inc. under the Fair Credit Reporting Act alleged sufficient injury to establish standing to proceed in federal court and to proceed with his class action.

On August 15, 2017, the U.S. Court of Appeals for the Ninth Circuit issued the latest opinion in the Robins v. Spokeo, Inc. litigation that gave us last year’s U.S. Supreme Court opinion on Article III standing (which we discussed here). After the Supreme Court found that the Ninth Circuit, in its prior February 2014 opinion (found here), had analyzed only whether the alleged injury was particular to Plaintiff, it remanded the case back for the second part of the analysis to determine whether Plaintiff alleged a concrete injury-in-fact, as required by Article III.

This new ruling is a “must read” for employers, as it has the potential to allow plaintiffs to launch more workplace class actions.

[LEXOLOGY]

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CFPB investigates scandal-ridden Wells Fargo…again

CFPB investigates scandal-ridden Wells Fargo…again

HW-

Wells Fargo is under investigation once again as it seems that while the bank was opening fake accounts, it could have been closing real ones.

The bank disclosed in a regulatory filing that the Consumer Financial Protection Bureau is looking into claims found on its database which state the bank closed customers accounts and left them without access to their funds, according to an article by Dan Freed for Reuters.

[HOUSING WIRE]

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Fannie, Freddie to waive appraisals on some purchase loans

Fannie, Freddie to waive appraisals on some purchase loans

San Francisco Chronicle-

Fannie Mae and Freddie Mac each have announced that they will begin waiving appraisal requirements on a limited number of home-purchase loans they back, which will save hundreds of dollars and speed closings for qualified buyers but strike a blow to appraisers .

Fannie started waiving the need for what it calls “property inspections” on certain refinance loans in December. At the time, Fannie said up to 10 percent of refinance loans could qualify for the waiver. Freddie quietly followed suit on some refis on June 19. Instead of using human appraisers on these loans, the government agencies are relying on automated valuation models.

Waiving them on purchase loans is a much bigger threat to taxpayers and appraisers, said Ken Chitester, a spokesman for the Appraisal Institute. “The previous owner could have made changes — good or ill — to the property” that would not show up on an automated valuation, he said. Also, when borrowers refinance an existing loan, lenders can see their track record. That’s not always true on purchase loans, which is why “it’s important to have an appraisal as part of good risk management.”

For buyers, there’s little downside. They can still get an appraisal if they want peace of mind, but won’t have to if they qualify for a waiver.
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NOTARIZE | The game changer for end-to-end digital mortgages: eClosings

NOTARIZE | The game changer for end-to-end digital mortgages: eClosings

Notarize CEO: It’s teleportation for the mortgage industry

HW-

Nearly everything about the industry’s prized digital mortgage is streamlined expect for the final, and one of the most important, steps at the end.

The entire online process comes to an abrupt halt when it’s time to close a loan, forcing borrowers to still meet up and cross the T’s and dot the I’s on an official document with a notary present.

And while this process is evolving digitally, as noted here, it wasn’t until recently that the process truly became end-to-end thanks to a new company: Notarize.

Notarize took the current eClosing process and brought it to the next level by allowing buyers to never have to leave their home or wet sign a single document.

[HOUSING WIRE]

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Deutsche Bank, Bank of America settle agency bond rigging lawsuits

Deutsche Bank, Bank of America settle agency bond rigging lawsuits

REUTERS-

Deutsche Bank AG and Bank of America Corp agreed to pay a combined $65.5 million to settle investor litigation accusing large banks of rigging the roughly $9 trillion government agency bond market over a decade.

Preliminary settlements totaling $48.5 million for Deutsche Bank and $17 million for Bank of America were filed on Thursday with the U.S. District Court in Manhattan, and require a judge’s approval. Both banks denied wrongdoing.

The settlements were the first in litigation accusing 10 banks of engaging in a “brazen conspiracy” to rig the market for U.S. dollar-denominated supranational, sub-sovereign and agency (SSA) bonds, court papers show.

[REUTERS]

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Citi Is 2nd Bank To Settle In OTC Libor Row, Will Pay $130M

Citi Is 2nd Bank To Settle In OTC Libor Row, Will Pay $130M

LAW 360-

Citigroup Inc. struck a $130 million deal Monday in New York federal court with investors who bought the bank’s financial products tied to the London Interbank Offered Rate, making it the second bank to settle with the investors over allegations the benchmark rate was manipulated.
Citi and its Citibank NA subsidiary promised to shell out $130 million in cash and cooperate with the investors, who purchased the products directly from the bank, in their ongoing case against a slew of financial institutions, according to a settlement proposal filed in Manhattan on Monday.

The settlement is “substantially similar” to a deal preliminarily approved by the court in December between Barclays PLC and the investors, called “over-the-counter” plaintiffs, the investors said in the motion.

“This settlement was reached after extended, frank, and contentious negotiations over the course of more than two years,” the OTC plaintiffs said in the motion.

[LAW 360]

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TFH 8/20 | Foreclosure Workshop #40: The Bank of New York Mellon v. R. Onaga, Inc. — What Every Homeowner Needs To Know About How Courts Are Balancing the Appellate Rights of Foreclosed Homeowners Versus the Contract Rights of Subsequent Third-Party Purchasers

TFH 8/20 | Foreclosure Workshop #40: The Bank of New York Mellon v. R. Onaga, Inc. — What Every Homeowner Needs To Know About How Courts Are Balancing the Appellate Rights of Foreclosed Homeowners Versus the Contract Rights of Subsequent Third-Party Purchasers

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 20

———————
Foreclosure Workshop #40: The Bank of New York Mellon v. R. Onaga, Inc. — What Every Homeowner Needs To Know About How Courts Are Balancing the Appellate Rights of Foreclosed Homeowners Versus the Contract Rights of Subsequent Third-Party Purchasers

Homeowners facing foreclosure have a right to appeal, and in more and more situations foreclosure judgments are being reversed.

Meanwhile, before a foreclosure appeal may be reversed, an auction sale of property in foreclosure will be confirmed and foreclosed property will eventually be sold to third parties.

What happens to your property if you are foreclosed on and your property is sold to third parties and thereafter your foreclosure judgment is reversed on appeal?

This is this Sunday’s discussion topic.

If your foreclosure judgment is reversed based, for instance, on the foreclosing court having lacked jurisdiction, or summary judgment having been improperly granted, or due to fraud, can you get your property back?

The Bank of New York Mellon v. R. Onaga, Inc., a recently published opinion of the Hawaii Supreme Court, represents one of the few studied attempts to begin to definitively answer that perplexing question.

Listen to this Sunday’s radio show. Learn how the Hawaii Supreme Court, reversing the Hawaii Intermediate Court of Appeals, has begun to examine this increasingly important issue, and why its broad-sweeping conclusions are arguably faulty, favoring third-party purchasers.

Once again, here is another instance where The Rule Ritual is leading our Courts into error by failing to look to the reasoning behind rule statements, trampling on the rights of Homeowners in yet what is emerging as one of the next most important new areas in foreclosure defense.

And learn once again the inherent problems within the doctrine of stare decisis where the language of appellate decisions is crafted based entirely upon the arguments and narrow competence of the attorneys representing private litigants, as in Onaga, whose counsel along with the presiding judges overlooked equally relevant and equally controlling yet unaddressed issues.

.
Host: Gary Dubin Co-Host: John Waihee

.

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

Past Broadcasts

EVERY SUNDAY
3:00 PM HAWAII
6:00 PM PACIFIC
9:00 PM EASTERN
ON KHVH-AM
(830 ON THE DIAL)
AND ON
iHEART RADIO

The Foreclosure Hour 12

 

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Bank of America to Pay $6 Million to Bankrupt Couple Evicted From Home

Bank of America to Pay $6 Million to Bankrupt Couple Evicted From Home

Fox Business-

Bank of America Corp. has agreed to pay more than $6 million to a California couple whom a federal judge said had been harassed and illegally foreclosed upon by the bank’s mortgage unit, ending an eight-year-long dispute.

The proposed settlement between the bank and Erik and Renee Sundquist would enable them “to end a long personal and legal nightmare that has impacted every facet of their and their sons’ lives,” according to court papers the couple filed to request that their 2014 lawsuit against the bank be dropped.

The deal calls for Bank of America to pay a fraction of the fine of more than $46 million ordered by Judge Christopher Klein in March. In his ruling, the judge said the bank’s mortgage modification process and mistaken foreclosure on the Sundquists’ home in Lincoln, Calif., left them in “a state of battle-fatigued demoralization.”

[FOX BUSINESS]

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Partridge v. Nationstar Mortgage, LLC | FL 2DCA – Unfortunately for Nationstar, it has not established “that it was the holder or nonholder in possession for purposes of standing

Partridge v. Nationstar Mortgage, LLC | FL 2DCA – Unfortunately for Nationstar, it has not established “that it was the holder or nonholder in possession for purposes of standing

NOT FINAL UNTIL TIME EXPIRES TO FILE REHEARING
MOTION AND, IF FILED, DETERMINED
IN THE DISTRICT COURT OF APPEAL
OF FLORIDA
SECOND DISTRICT

STELLA PARTRIDGE a/k/a STELLA
GOMEZ SEITZ a/k/a M. STELLA GOMEZ
SEITZ,
Appellant,

v.

NATIONSTAR MORTGAGE, LLC;
RICARDO PARTRIDGE; and THE BANK
OF NEW YORK MELLON f/k/a THE BANK
OF NEW YORK, as trustee for the
certificateholders of CWHEQ, Inc., Home
Equity Loan Asset Backed Certificates,
Series 2006-S6;
Appellees

Stella Partridge, also known as Stella Gomez Seitz (“Ms. Seitz”), appeals
a final judgment of foreclosure. We have jurisdiction. See Fla. R. App. P.
9.030(b)(1)(A). Ms. Seitz, who unsuccessfully moved for involuntary dismissal at trial,
argues that the trial court erred in admitting the payment history into evidence. She also
contends that Nationstar Mortgage, LLC (“Nationstar”), lacked standing to foreclose.
Because Nationstar failed to prove standing, we reverse and remand for further
proceedings.

[…]

2D16-3081 by DinSFLA on Scribd

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Wells Fargo chairman, two directors to step down amid continuing fallout from sham accounts scandal

Wells Fargo chairman, two directors to step down amid continuing fallout from sham accounts scandal

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 end of this year. They’re the latest casualties in the bank’s long-running scandal over sham accounts, which has spurred a wide-ranging shake-up at the San Francisco financial giant.

All three are among the company’s longest-tenured board members, with Milligan having served for a quarter of a century. The trio received only tepid support from shareholders at the company’s annual meeting in April, a sign of investors’ dissatisfaction with the board’s oversight of the bank amid an ever-growing list of misdeeds.

[LA TIMES]

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The Fed Wants to Make Life Easier for Big-Bank Directors

The Fed Wants to Make Life Easier for Big-Bank Directors

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 new regulatory guidance put forward by the Federal Reserve Board, the nation’s top financial regulator, would go in the opposite direction. In essence, the Fed says, big-bank board members need to take a load off.

After a multiyear review, the regulator concluded that excessive regulatory duties are hobbling bank boards and distracting directors from the more important work of guiding bank strategy and adopting effective governance at their institutions.

[NEW YORK TIMES]

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Prince v BAC Home Loans | PA DC – The factual allegations, accepted as true and construed in the light most favorable to Plaintiffs, indicate that Plaintiffs suffered financial injury that may partly form the basis of a civil RICO claim

Prince v BAC Home Loans | PA DC – The factual allegations, accepted as true and construed in the light most favorable to Plaintiffs, indicate that Plaintiffs suffered financial injury that may partly form the basis of a civil RICO claim

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.

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