FORECLOSURE FRAUD | by DinSFLA - Part 2
Wells Fargo stress test: Severe downturn could lead to $10.7B loss

Wells Fargo stress test: Severe downturn could lead to $10.7B loss

22 July 2015

WS Journal- Wells Fargo & Co. said Friday it projected an overall $10.7 billion loss if the U.S. economy were to go through a severe downturn during a 2 1/4 year period ending June 30, 2017. The bank projected losses of $57.6 billion — $46.1 billion for loan losses, $9.6 billion in trading and counterparty […]

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How to Stay Afloat in the Coming $150B HELOC Reset Tidal Wave

How to Stay Afloat in the Coming $150B HELOC Reset Tidal Wave

22 July 2015

National Mortgage News- Resetting home equity lines of credit to the tune of $150 billion over the next 48 months, combined with a near-certain increase in short term interest rates over that same period, could very well be a bad situation for institutions who hold these assets. Simply creating a preemptive solution, or series of […]

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REPORT| The Wall Street caused financial crisis will cost the United States more than of $20 trillion

REPORT| The Wall Street caused financial crisis will cost the United States more than of $20 trillion

22 July 2015

Better Markets- Better Markets released an extensive Cost of the Crisis Report detailing how the 2008 financial crash and the economic catastrophe it caused will cost the United States more than $20 trillion. The Report was released the day before the fifth anniversary of President Obama signing the historic Dodd-Frank Financial Reform and Consumer Protection […]

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OCC Approves OneWest Bank, N.A. – CIT Bank Merger; Terminates Foreclosure-Related Consent Order

OCC Approves OneWest Bank, N.A. – CIT Bank Merger; Terminates Foreclosure-Related Consent Order

21 July 2015

NR 2015-105 FOR IMMEDIATE RELEASE July 21, 2015 Contact: William Grassano (202) 649-6870 OCC Approves OneWest Bank, N.A. – CIT Bank Merger; Terminates Foreclosure-Related Consent Order WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced that it granted conditional approval to merge CIT Bank, Salt Lake City, Utah, into OneWest Bank, […]

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Wayne, Oakland counties sued over “unconstitutional” foreclosures

Wayne, Oakland counties sued over “unconstitutional” foreclosures

21 July 2015

Michigan Radio- Michigan’s two largest counties are illegally foreclosing on thousands of properties for delinquent taxes, according to class-action lawsuits filed this month. Wayne and Oakland counties have both foreclosed on thousands of properties for unpaid taxes in recent years. But in doing so they’ve denied property owners their due process rights, according to the […]

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CFPB Orders Citibank to Pay $700 Million in Consumer Relief for Illegal Credit Card Practices

CFPB Orders Citibank to Pay $700 Million in Consumer Relief for Illegal Credit Card Practices

21 July 2015

Will someone please explain to me how these f*cking cartels are still in business??? I just do not get it!   Millions of Consumers Harmed by Bank’s Deceptive Marketing and Unfair Billing of Credit Card Add-On Products and Services, and Other Unlawful Practices WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) has ordered Citibank, […]

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New York Escalates Investigation Into Promontory Financial Group

New York Escalates Investigation Into Promontory Financial Group

20 July 2015

NYT- When an executive at one of Wall Street’s top consulting firms testified before Congress two years ago, he stressed the importance of independence in reviewing bank misdeeds, declaring, “If we merely told our clients what they want to hear, we would lose credibility.” A long-running New York State investigation into potential conflicts of interest […]

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Elizabeth Warren Challenges Hillary Clinton to Stop the Revolving Door

Elizabeth Warren Challenges Hillary Clinton to Stop the Revolving Door

20 July 2015

The New Republic- At the Netroots Nation convention on Friday, Senator Elizabeth Warren delivered a direct challenge to Hillary Clinton and all Democratic presidential campaigns to support legislation that would end the “revolving door” between top government positions and corporate America. “Anyone who wants to be president should appoint only people who have already demonstrated […]

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Bank Walkaways and Undead Foreclosures Continue to Haunt the Economy

Bank Walkaways and Undead Foreclosures Continue to Haunt the Economy

20 July 2015

Columbia Law School- There is broad agreement that predatory subprime lending – along with faulty securitization practices – were important causes of the recent financial crisis. Although the U.S. economy has improved significantly since 2008, it has not fully returned to normal, in part because the housing sector continues to lag. And while the foreclosure […]

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Federal Natl. Mtge. Assn. v Singer | NYSC – Judge Slams Fannie Mae & BOA “FANNIE MAE/BOA and its agents, successors and assigns are forever barred, foreclosed and prohibited from demanding, collecting or attempting to collect, directly or indirectly, accrued interest on the note and mortgage”

Federal Natl. Mtge. Assn. v Singer | NYSC – Judge Slams Fannie Mae & BOA “FANNIE MAE/BOA and its agents, successors and assigns are forever barred, foreclosed and prohibited from demanding, collecting or attempting to collect, directly or indirectly, accrued interest on the note and mortgage”

19 July 2015

Decided on July 15, 2015 Supreme Court, New York County   Federal National Mortgage Association, Plaintiff, —against- against Lawrence R. Singer a/k/a LAWRENCE SINGER, BONNIE J. SINGER a/k/a BONNIE SINGER, BOARD OF MANAGERS OF 4260 BROADWAY CONDOMINIUM, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. AS NOMINEE FOR HOMEBRIDGE MORTGAGE BANKERS CO., NEW YORK CITY ENVIRONMENTAL CONTROL BOARD, […]

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MASS. | Pinti v. Emigrant Mortgage Co. | Given our conclusion that the foreclosure sale was VOID . . . The declaratory judgment of the Superior Court and the orders allowing Wilion’s motion for summary judgment and dismissing the plaintiffs’ complaint are reversed.

MASS. | Pinti v. Emigrant Mortgage Co. | Given our conclusion that the foreclosure sale was VOID . . . The declaratory judgment of the Superior Court and the orders allowing Wilion’s motion for summary judgment and dismissing the plaintiffs’ complaint are reversed.

19 July 2015

SJC-11742 LINDA PINTI & another1 vs. EMIGRANT MORTGAGE COMPANY, INC., & another.2 Middlesex. January 8, 2015. – July 17, 2015. Present: Gants, C.J., Spina, Cordy, Botsford, Duffly, Lenk, & Hines, JJ. Mortgage, Foreclosure, Real estate. Real Property, Mortgage, Sale. Sale, Real estate. Notice, Foreclosure of mortgage. Declaratory Relief. Practice, Civil, Declaratory proceeding, Summary judgment. BOTSFORD, […]

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MILJKOVIC v. SHAFRITZ AND DINKIN | PA, Court of Appeals, 11th Cir. – representations made by an attorney in court filings during the course of debt-collection litigation are actionable under the Fair Debt Collection Practices Act (FDCPA)

MILJKOVIC v. SHAFRITZ AND DINKIN | PA, Court of Appeals, 11th Cir. – representations made by an attorney in court filings during the course of debt-collection litigation are actionable under the Fair Debt Collection Practices Act (FDCPA)

19 July 2015

  NEDZAD MILJKOVIC, Plaintiff-Appellant, v. SHAFRITZ AND DINKIN, P.A., MITCHELL A. DINKIN. Defendants-Appellees. No. 14-13715.United States Court of Appeals, Eleventh Circuit.June 30, 2015.Before WILSON and ANDERSON, Circuit Judges, and VOORHEES,[*] District Judge. WILSON, Circuit Judge. Plaintiff-appellant Nedzad Miljkovic (Appellant) appeals from the district court’s dismissal with prejudice of his complaint against defendants-appellees Shafritz and Dinkin, […]

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Reuters Exclusive: U.S. housing regulator paid law firms $373 million to sue banks

Reuters Exclusive: U.S. housing regulator paid law firms $373 million to sue banks

17 July 2015

Reuters- The Federal Housing Finance Agency disclosed on Thursday that it paid two law firms over $373 million since 2010 to pursue litigation against several banks over mortgage-backed securities sold to Fannie Mae and Freddie Mac before the financial crisis. The FHFA, which has acted as conservator for Fannie and Freddie since the government took […]

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Goldman Sachs Group CEO Lloyd Blankfein Is NOW a Billionaire

Goldman Sachs Group CEO Lloyd Blankfein Is NOW a Billionaire

17 July 2015

He has a special thanks to give to the Obama Administration. Bloomberg- Goldman Sachs Group Inc. made hundreds of partners rich when it went public in 1999. Its performance since then has turned Lloyd Blankfein into a billionaire. The chief executive officer of the Wall Street bank for the past nine years, Blankfein has seen […]

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CFPB v. Frederick Hanna & Associates |  Big Win for CFPB on Debt Collection

CFPB v. Frederick Hanna & Associates | Big Win for CFPB on Debt Collection

16 July 2015

Credit Slips- Yesterday, Judge Amy Totenberg of the Northern District of Georgia issued a very cogent 70-page opinion in the case of the CFPB v. Frederick Hanna & Associates, a large collection law firm with offices in Georgia, Florida, and South Carolina. The opinion denies Hanna’s motion to dismiss in its entirety, and almost completely […]

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EVANKAVITCH, v. GREEN TREE SERVICING, LLC, | Third Circuit – Under the (“FDCPA”), 15 U.S.C. § 1692, et seq., a debt collector is liable to a consumer for contacting third parties in pursuit of that consumer’s debt unless the communication falls under a statutory exception

EVANKAVITCH, v. GREEN TREE SERVICING, LLC, | Third Circuit – Under the (“FDCPA”), 15 U.S.C. § 1692, et seq., a debt collector is liable to a consumer for contacting third parties in pursuit of that consumer’s debt unless the communication falls under a statutory exception

16 July 2015

 H/T CaseLaw PRECEDENTIAL United States Court of Appeals,Third Circuit. PATRICIA EVANKAVITCH, v. GREEN TREE SERVICING, LLC, Appellant. No. 14–1114.     Decided: July 13, 2015 Before FUENTES, FISHER, and KRAUSE, Circuit Judges. Carlo Sabatini, Esq., Dunmore, PA, Deepak Gupta, Esq., (Argued), Gupta Wessler, Washington, DC, for Appellee. Barbara K. Hager, Esq., Henry F. Reichner, Esq., Reed Smith, Philadelphia, […]

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Warren and Cummings Ask Financial Regulators About Risks to Banks and Taxpayers from Swaps Trading

Warren and Cummings Ask Financial Regulators About Risks to Banks and Taxpayers from Swaps Trading

16 July 2015

Members Call for More Transparency after Legislation Gutted Dodd-Frank Provision Jul 16, 2015 Washington, DC – Today, United States Senator Elizabeth Warren and Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, sent letters requesting information from federal financial regulators about risks posed to taxpayers after last year’s partial […]

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Goldman in talks to settle Justice Department probe into sales of mortgage securities before the financial crisis

Goldman in talks to settle Justice Department probe into sales of mortgage securities before the financial crisis

16 July 2015

Crain’s- Goldman Sachs Group Inc. reported second-quarter earnings that fell 49% from a year earlier on higher legal costs tied to a potential settlement of mortgage-related probes. Net income dropped to $1.05 billion, or $1.98 a share, from $2.04 billion, or $4.10, a year earlier, the New York-based company said Thursday in a statement. Excluding […]

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Clintons And Foundation Raked In Cash From Banks That Admitted Wrongdoing

Clintons And Foundation Raked In Cash From Banks That Admitted Wrongdoing

16 July 2015

ibtimes- On the campaign trail, Hillary Clinton is selling her version of economic populism, including calls for Wall Street executives who engage in financial wrongdoing to be held accountable more than they have been under President Barack Obama. She has pushed that message hard as she seeks to win support from the Democratic Party’s liberal […]

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The Foreclosure Hour | What Every Homeowner Needs To Know About Class Actions

The Foreclosure Hour | What Every Homeowner Needs To Know About Class Actions

15 July 2015

Facing Foreclosure? If so, you can’t afford to miss a single show! Our upcoming guests will help you save your home. COMING TO YOU LIVE DIRECTLY FROM THE DUBIN LAW OFFICES AT HARBOR COURT, DOWNTOWN HONOLULU, HAWAII   . Host: Gary Dubin - Co-Host:  John Waihee - What Every Homeowner Needs To Know About Class Actions […]

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Obama Administration Finds New Way to Let Criminal Banks Avoid Consequences

Obama Administration Finds New Way to Let Criminal Banks Avoid Consequences

15 July 2015

The Intercept- Three top Democrats are accusing the Department of Housing and Urban Development of quietly removing a key clause in its requirements for taxpayer-guaranteed mortgage insurance in order to spare two banks recently convicted of federal crimes from being frozen out of the lucrative market. HUD’s action is the latest in a series of […]

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Brown, Waters, and Warren: FHA Lending Proposal Gives Wall Street Banks Free Pass at Taxpayers’ Expense

Brown, Waters, and Warren: FHA Lending Proposal Gives Wall Street Banks Free Pass at Taxpayers’ Expense

15 July 2015

WASHINGTON, D.C. – Leading Democrats on the Senate Banking and House Financial Services Committees today urged the Obama Administration to reconsider a proposal that would make it easier for lenders that have engaged in criminal behavior to keep accessing taxpayer-backed mortgage insurance. Sen. Sherrod Brown (D-OH), the Banking Committee’s senior Democrat, Rep. Maxine Waters (D-CA), […]

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