FORECLOSURE FRAUD | by DinSFLA - Part 2
Ocwen to sell $9.6 billion mortgage servicing rights to Walter unit

Ocwen to sell $9.6 billion mortgage servicing rights to Walter unit

18 March 2015

REUTERS- Ocwen Financial Corp (OCN.N) said it was selling residential mortgage servicing rights worth $9.6 billion to a subsidiary of Walter Investment Management Corp (WAC.N). The deal is the latest in a series of steps by Ocwen to slim down its operations amid regulatory scrutiny over its business practices. Ocwen, which delayed filing its full-year [...]

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Desmond v Raymond C. Green, Inc. (In re Harborhouse of Gloucester, LLC), (1st Cir. BAP 2014) – Lost Mortgage Notes: Those Pesky State UCC Variations

Desmond v Raymond C. Green, Inc. (In re Harborhouse of Gloucester, LLC), (1st Cir. BAP 2014) – Lost Mortgage Notes: Those Pesky State UCC Variations

18 March 2015

Bankruptcy Real Estate Insight - A Chapter 7 trustee objected to the proof of claim filed by a downstream assignee of a lost mortgage note. The trustee sought both to reject the claim and to avoid the mortgage (so that he could preserve the mortgage lien for the benefit of the estate). The bankruptcy court [...]

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U.S. Treasury Drops a Bombshell Yesterday: “Quicksilver Markets”

U.S. Treasury Drops a Bombshell Yesterday: “Quicksilver Markets”

18 March 2015

Wall Street on Parade- Yesterday, an agency of the Federal government, the U.S. Treasury’s Office of Financial Research (OFR), released a study warning that by three separate measures the U.S. stock market is approaching dangerous “two-sigma thresholds” which can lead to “quicksilver markets.” Translation: we could be heading for a big crash. A two-sigma threshold [...]

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Fridman v. NYCB Mortgage | 7th Circuit Court of Appeals – Truth in Lending Act … The court had to define what is “date of receipt” and “payment instrument”

Fridman v. NYCB Mortgage | 7th Circuit Court of Appeals – Truth in Lending Act … The court had to define what is “date of receipt” and “payment instrument”

17 March 2015

EDIT: A tip came in with the following to this case: A key part of this decision concerns an agency’s interpretive powers.  Generally, courts give Chevron deference to an agency’s interpretations of its rules if the interpretations are adopted through the Administrative Procedure Act’s notice-and-comment rulemaking procedures.  Otherwise, courts generally give a lower standard of [...]

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MAILINGS GOING TO SUNTRUST BORROWERS WHO MAY BE ELIGIBLE FOR PAYMENT

MAILINGS GOING TO SUNTRUST BORROWERS WHO MAY BE ELIGIBLE FOR PAYMENT

16 March 2015

Commonwealth of Virginia Office of the Attorney General Mark Herring Attorney General 900 East Main Street Richmond, Virginia 23219 For media inquiries only, contact:   Michael Kelly, Director of Communications Phone: (804)786-5874  Email: mkelly@oag.state.va.us   MAILINGS GOING TO SUNTRUST BORROWERS WHO MAY BE ELIGIBLE FOR PAYMENT  ~More than 3,000 Virginia borrowers may be eligible for payment from $40 [...]

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Sen. Blumenthal and Rep. Ellison Introduce the Permanently Protecting Tenants at Foreclosure Act of 2015

Sen. Blumenthal and Rep. Ellison Introduce the Permanently Protecting Tenants at Foreclosure Act of 2015

16 March 2015

Mar 13, 2015 Press Release WASHINGTON—Sen. Richard Blumenthal (D-CT) and Rep. Keith Ellison (D-MN) introduced the Permanently Protecting Tenants at Foreclosure Act of 2015 (H.R. 1354) today. The bill ensures expired federal protections for renters living in foreclosed properties are renewed.   “Families who pay their rent and play by the rules should not be [...]

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BYMEL v. BANK OF AMERICA | FL 3rd DCA – order allowing Bymel (short sale buyer) to intervene in the foreclosure action

BYMEL v. BANK OF AMERICA | FL 3rd DCA – order allowing Bymel (short sale buyer) to intervene in the foreclosure action

15 March 2015

Third District Court of Appeal State of Florida Opinion filed March 11, 2015. Not final until disposition of timely filed motion for rehearing. ________________ No. 3D13-3099 Lower Tribunal No. 12-7660 ________________ William J. Bymel, Appellant, vs. Bank of America, N.A., Appellee. An Appeal from an order of the Circuit Court for Miami-Dade County, Jennifer D. [...]

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Ocwen must face claims it wrongly denied mortgage help – ruling

Ocwen must face claims it wrongly denied mortgage help – ruling

15 March 2015

Reuters- A federal judge has ruled that a class action can go forward accusing Ocwen Loan Servicing and Litton Loan Servicing of consumer fraud for allegedly violating agreements to help homeowners avoid foreclosures during the housing crisis. Judge Edgardo Ramos in U.S. District Court in Manhattan ruled Wednesday that Ocwen must face breach of contract [...]

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Nomura, RBS face U.S. mortgage trial; $1 billion damages at stake

Nomura, RBS face U.S. mortgage trial; $1 billion damages at stake

15 March 2015

Reuters- A U.S. housing regulator is set to take two of the world’s biggest banks to trial on Monday to try and recoup more than $1 billion in damages over mortgage bonds sold to government-run mortgage finance companies ahead of the 2008 economic crisis. Lawyers for the regulator will face off with attorneys of Nomura [...]

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ROBO WITNESSES STILL HEAVILY ACTIVE IN THE JUDICIAL FORECLOSURE PROCESS!

ROBO WITNESSES STILL HEAVILY ACTIVE IN THE JUDICIAL FORECLOSURE PROCESS!

13 March 2015

cross posted via the Clouded Titles blog- While most of those living in non-judicial foreclosure states never see these individuals, states where the lender has to file a lawsuit and serve notice on the Borrower in order to complete a mortgage foreclosure brings to the forefront what I have been trying to advocate in my [...]

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Consumer Protection: A Beginner’s Guide

Consumer Protection: A Beginner’s Guide

12 March 2015

Consumer protection touches on a number of areas of law, and as such, has been broadly defined by Nolo’s Plain-English Law Dictionary as “[f]ederal and state laws established to protect retail purchasers of goods and services from inferior, adulterated, hazardous, and deceptively advertised products, and deceptive or fraudulent sales practices; these laws cover everything from [...]

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International White Collar Criminals Pass Through the System With Ease

International White Collar Criminals Pass Through the System With Ease

12 March 2015

White Collar Crime White collar crime is as old as business itself, with the pioneers of the art form resorting to crude measures to bilk others out of their hard-earned currency. One of the earliest recorded white collar crimes on record included an importer who, after taking out a loan to acquire goods for sale, [...]

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CFPB Report Outlines Legal Violations Uncovered by Supervision

CFPB Report Outlines Legal Violations Uncovered by Supervision

12 March 2015

H/T BeSpacific- “Today the Consumer Financial Protection Bureau (CFPB) released its latest supervision report highlighting legal violations uncovered by the Bureau’s examiners. The Bureau found deceptive student loan debt collection practices, unfair and deceptive overdraft practices, mortgage origination violations, fair lending violations, and mishandled disputes by consumer reporting agencies. The report also shows that CFPB [...]

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Hammond couple sue over ‘robosigning’

Hammond couple sue over ‘robosigning’

12 March 2015

If anyone comes across the complaint, please forward via email a tip tab above this site.   Chicago Tribune- A Hammond couple claim in a federal lawsuit that they were victims of “robosigning” and other predatory mortgage practices that left them facing foreclosure. According to the lawsuit, which was filed in Lake County Superior Court [...]

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[INFOGRAPHIC]: How Americans Became a Nation of Renters

[INFOGRAPHIC]: How Americans Became a Nation of Renters

12 March 2015

[INFOGRAPHIC]: How Americans Became a Nation of Renters How American became a nation of renters [INFOGRAPHIC] This infographic came from PM Guardian.com © 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.

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Legislation to Extend Tax Relief to Distressed Homeowners Currently in House, Senate Committees

Legislation to Extend Tax Relief to Distressed Homeowners Currently in House, Senate Committees

11 March 2015

DS NEWS- Two similar pieces of legislation introduced last month in the House and Senate that would extend tax relief to homeowners who are underwater on their mortgage loans have been referred to committees and are waiting to be heard. Congressman Tom Reed (R-New York) introduced the Mortgage Forgiveness Tax Relief Act of 2015 (H.R. [...]

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Montana Senate Lawmakers passes bill that would let banks off the hook for fraudulent statements

Montana Senate Lawmakers passes bill that would let banks off the hook for fraudulent statements

10 March 2015

MT Standard- It isn’t easy to talk about filing for bankruptcy or losing your home, but as Montana’s Legislature moves to make it more difficult for homeowners to sue the mortgage industry for deceptive practices, tongues are loosening up. Montana Senate lawmakers have passed two bills to undo a landmark court ruling that benefited homeowners [...]

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Congressman introduces legislation to “reform” CFPB

Congressman introduces legislation to “reform” CFPB

10 March 2015

Read this proposed legislation and weigh in with your elected: Would take CFPB budget out of the Fed’s (i.e. legislators would control CFPB funding absolutely) Would take authority away from Cordray and give it to a “Commission” of political appointees. http://www.lexology.com/library/detail.aspx?g=b4514056-bcd5-4baa-b8e0-453488d30e54&utm_source=lexology+daily+newsfeed&utm_medium=html+email+-+body+-+federal+section&utm_campaign=lexology+subscriber+daily+feed&utm_content=lexology+daily+newsfeed+2015-03-10&utm_term= H.R.1266 Latest Title: To amend the Consumer Financial Protection Act of 2010 to make [...]

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7,500 Sign Up For Tax Repayment Plans To Avoid Foreclosure

7,500 Sign Up For Tax Repayment Plans To Avoid Foreclosure

10 March 2015

CBS Detroit- About 7,500 Detroit homeowners have entered into payment plans on their back taxes to prevent foreclosures. Mayor Mike Duggan and Wayne County Treasurer Raymond Wojtowicz said Tuesday that thousands of others have until the end of the month to do the same. New laws signed by Gov. Rick Snyder in December cut interest [...]

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Mortgage settlements in jeopardy — Bill killing them moves quietly

Mortgage settlements in jeopardy — Bill killing them moves quietly

09 March 2015

Journal Gazette- Remember back in the grim days of the mortgage foreclosure crisis? Back when consumers in trouble on their mortgages told horror stories about their inability to reach a live human being at their bank? Back when borrowers would have to fax forms to Wichita on one day and Cleveland the next? Well, if [...]

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NY Attorney General Schneiderman Announces Groundbreaking Consumer Protection Settlement WithTransUnion, Equifax and Experian

NY Attorney General Schneiderman Announces Groundbreaking Consumer Protection Settlement WithTransUnion, Equifax and Experian

09 March 2015

A.G. Schneiderman Announces Groundbreaking Consumer Protection Settlement With The Three National Credit Reporting Agencies Experian, Equifax, And Transunion, Which Maintain Consumer Credit Information On 200 Million Americans, Have Agreed To Increase Protections For Consumers Facing Credit Report Errors; Provide Second Free Annual Credit Report To Consumers Agreement Increases Protections For Consumers With Medical Debt; Reforms [...]

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Did Bank Complaints Result in Transfer of Foreclosure Referee?

Did Bank Complaints Result in Transfer of Foreclosure Referee?

07 March 2015

Combing through many past pro-homeowner cases, this referee was no doubt a target of the banks to oust her! WiseLawNY- I have come into possession of a copy of an internal e-mail from a court attorney to a top official at the Office of Court Administration that paints an unsettling picture of bank influence in [...]

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