FORECLOSURE FRAUD | by DinSFLA - Part 41
Damning court filings show Morgan Stanley pushed risky subprime mortgage lending

Damning court filings show Morgan Stanley pushed risky subprime mortgage lending

02 January 2015

VOX- 1. Court filings say Morgan Stanley, a major Wall Street bank, pushed subprime lender New Century into making riskier and riskier mortgage loans, the New York Times reports. 2. The filings include damning emails, showing that Morgan Stanley employees knew about and even joked about some borrowers’ inability to pay on their mortgages. 3. […]

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Ambac sues Bank of America over Countrywide mortgage bonds

Ambac sues Bank of America over Countrywide mortgage bonds

01 January 2015

Perfect way to start off the New Year! Reuters- Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank’s Countrywide Home Loans unit. In a complaint filed on Tuesday in […]

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The Year in White-Collar Crime

The Year in White-Collar Crime

30 December 2014

Simply Unbelievable. NYT- White-collar crime cases can take years to develop, so today’s headlines often reflect what happened well in the past. And as we approach the end of 2014, there is a sense, to steal a line from Yogi Berra, that it’s like déjà vu all over again. We will, of course, see continued […]

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Piggish bankers went whole hog to abuse consumers in 2014

Piggish bankers went whole hog to abuse consumers in 2014

30 December 2014

Chicago Tribune- The end of the year occasions awards season in all industries, and the world of personal finance is no exception, which brings us to the 2014 edition of the Piggy Bank Awards for Dubious Achievements in Consumer Finance or, for short, “The Piggies.” And what a year of very dubious achievements it was. […]

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Gorel v. BANK OF NEW YORK MELLON | FL 5DCA – Bank failed to establish that it was entitled to summary judgment because it failed to properly refute their affirmative defense alleging Bank’s failure to provide them with pre-acceleration notice

Gorel v. BANK OF NEW YORK MELLON | FL 5DCA – Bank failed to establish that it was entitled to summary judgment because it failed to properly refute their affirmative defense alleging Bank’s failure to provide them with pre-acceleration notice

29 December 2014

  ADIEL GOREL AND FLCA TROPICAL HOLDINGS, LLC, Appellants, v. THE BANK OF NEW YORK MELLON, ETC., Appellee. Case No. 5D13-165.District Court of Appeal of Florida, Fifth District.Opinion filed December 19, 2014.Michael E. Rodriguez, of Foreclosure Defense Law Firm, PL, Tampa, for Appellants. Elizabeth T. Frau and Jeffrey M. Gano, of Ronald R. Wolfe & […]

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Foreclosure News: Who Gets to Decide Whether a State is a Judicial Foreclosure State or a Non-Judicial Foreclosure State, Legislatures or the Mortgage Industry?

Foreclosure News: Who Gets to Decide Whether a State is a Judicial Foreclosure State or a Non-Judicial Foreclosure State, Legislatures or the Mortgage Industry?

29 December 2014

Credit Slips Apparently some mortgage lenders feel they can make this change unilaterally. Big changes are afoot in the process of granting a home mortgage, which could have a significant impact on a homeowner’s ability to fight foreclosure. In many states in the Unites States (including but not limited to Connecticut, Delaware, Florida, Hawaii, Illinois, […]

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New York’s Top Cop Scores as Credit Suisse Faces $10 Billion Mortgage Fraud Suit

New York’s Top Cop Scores as Credit Suisse Faces $10 Billion Mortgage Fraud Suit

29 December 2014

BusinessWeek- Credit Suisse Group AG (CSGN) was ordered to face a $10 billion lawsuit by New York’s attorney general accusing the Swiss bank of fraud in the sales of mortgage-backed securities before the 2008 financial crisis. A New York State Supreme Court justice rejected the bank’s request to dismiss the case, a move that gives […]

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You MUST hear these admissions! Exclusive Tell-All Interview With Retired Big Five Bank Executive

You MUST hear these admissions! Exclusive Tell-All Interview With Retired Big Five Bank Executive

27 December 2014

These are admissions coming direct from an insider who knows both the government and the bankers play by play and why we continue to be left out in the streets without any help or support! Thank you to The Foreclosure Hour for their podcasts. [CLICK IMAGE BELOW] © 2010-15 FORECLOSURE FRAUD | by DinSFLA. All […]

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AURORA LOAN SERVS., LLC v. DIAKITE | NYSC – this Court finds that the record supports the referee’s findings that the plaintiff failed to negotiate in good faith pursuant to CPLR § 3408

AURORA LOAN SERVS., LLC v. DIAKITE | NYSC – this Court finds that the record supports the referee’s findings that the plaintiff failed to negotiate in good faith pursuant to CPLR § 3408

27 December 2014

2014 NY Slip Op 51778(U) AURORA LOAN SERVICES, LLC, Plaintiff, v. AMADOU DIAKITE, ET AL., Defendants. 17949/2009Supreme Court, Kings County. Decided December 19, 2014.The plaintiff was represented by Harrison Edwards, Esq. of Fein, Such & Crane, 1200 Old Country Road, Westbury, NY. The defendant was represented by Jordan T. Schiller, Esq. of Schiller P.C., 55 […]

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Palm Beach County Legal Aid getting money from an unusual source…Leftovers from a David Stern Class Action

Palm Beach County Legal Aid getting money from an unusual source…Leftovers from a David Stern Class Action

25 December 2014

Palm Beach Post- The Legal Aid Society of Palm Beach County is getting a $115,000 budget boost from an unusual source — leftovers from a successful class action lawsuit against former Florida foreclosure king David J. Stern. Palm Beach County Circuit Judge Lucy Chernow Brown said in a Dec. 8 order that money remaining from […]

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Adma Levitin: Mortgage Servicer Privity with Borrowers

Adma Levitin: Mortgage Servicer Privity with Borrowers

25 December 2014

Credit Slips- A lot of the mortgage servicing litigation over the past seven years has faltered on standing issues. Does the borrower have standing to sue the servicer? This has been a problem for RESPA and HAMP suits, where there are questions about whether there is a private right of action, as well as for […]

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Two more Colorado foreclosure law firms charged with fraud

Two more Colorado foreclosure law firms charged with fraud

23 December 2014

Reuters- Colorado’s Attorney General John Suthers has sued two more law firms in the state for fraud, accusing them of inflating foreclosure costs charged to homeowners, his office said. As part of an ongoing investigation, Suthers has filed eight civil law enforcement actions against Colorado foreclosure law firms in 2014, five of which resulted in […]

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David J. Reiss, K. Sabeel Rahman, and Jeffrey Lederman. “Comment on the CFPB’s Policy on No-Action Letters”

David J. Reiss, K. Sabeel Rahman, and Jeffrey Lederman. “Comment on the CFPB’s Policy on No-Action Letters”

23 December 2014

David J. Reiss, Brooklyn Law School K. Sabeel Rahman, Brooklyn Law School Jeffrey Lederman, Brooklyn Law School Abstract This is a comment on the Consumer Financial Protection Bureau’s (the “Bureau”) proposed Policy on No-Action Letters (the “Policy”). The Policy is a step in the right direction, but a more robust Policy could better help the […]

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KIEFERT v. NATIONSTAR MORTGAGE, LLC, Fla: 1st DCA | Nationstar failed to establish that Aurora had standing to foreclose at the time Aurora filed the original complaint

KIEFERT v. NATIONSTAR MORTGAGE, LLC, Fla: 1st DCA | Nationstar failed to establish that Aurora had standing to foreclose at the time Aurora filed the original complaint

22 December 2014

  DANIEL and NANCY KIEFERT, Appellants, v. NATIONSTAR MORTGAGE, LLC, Appellee. Case No. 1D13-5998.District Court of Appeal of Florida, First District.Opinion filed December 16, 2014.Thomas R. Pycraft, Jr., John J. Spence, and Michael Pelkowski of Pycraft Legal Services, LLC, St. Augustine, for Appellants. Nancy M. Wallace, Kristen M. Fiore, and Michael J. Larson of Akerman […]

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NYDFS ANNOUNCES OCWEN CHAIRMAN TO RESIGN FROM FIRM AND RELATED COMPANIES; OCWEN TO PROVIDE DIRECT HOMEOWNER RELIEF AND UNDERTAKE SIGNIFICANT OPERATIONAL REFORMS

NYDFS ANNOUNCES OCWEN CHAIRMAN TO RESIGN FROM FIRM AND RELATED COMPANIES; OCWEN TO PROVIDE DIRECT HOMEOWNER RELIEF AND UNDERTAKE SIGNIFICANT OPERATIONAL REFORMS

22 December 2014

December 22, 2014 Contact: Matt Anderson, 212-709-1691 NYDFS ANNOUNCES OCWEN CHAIRMAN TO RESIGN FROM FIRM AND RELATED COMPANIES; OCWEN TO PROVIDE DIRECT HOMEOWNER RELIEF AND UNDERTAKE SIGNIFICANT OPERATIONAL REFORMS $150 Million in ‘Hard-dollar’ Assistance to New Yorkers NYDFS Will Have Independent Monitor at Ocwen for up to Additional Three Years Benjamin M. Lawsky, Superintendent of […]

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The Office of the Comptroller of the Currency (OCC) released today the “Truth in Lending Act” (TILA) handbook

The Office of the Comptroller of the Currency (OCC) released today the “Truth in Lending Act” (TILA) handbook

19 December 2014

Consumer Compliance (CC) Office of the Comptroller of the Currency Washington, DC 20219 Comptroller’s Handbook CC-TILA Truth in Lending Act December 2014 Introduction The Office of the Comptroller of the Currency’s (OCC) Comptroller’s Handbook booklet, “Truth in Lending Act,” is prepared for use by OCC examiners in connection with their examination and supervision of national […]

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NATIONAL CREDIT UNION ADMINISTRATION BOARD vs U.S. BANK N A, and BANK OF AMERICA, N A |  NCUA Sues Trustees of 99 Mortgage-Backed Securities

NATIONAL CREDIT UNION ADMINISTRATION BOARD vs U.S. BANK N A, and BANK OF AMERICA, N A | NCUA Sues Trustees of 99 Mortgage-Backed Securities

18 December 2014

IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK NATIONAL CREDIT UNION ADMINISTRATION BOARD, as Liquidating Agent of U.S. Central Federal Credit Union, Western Corporate Federal Credit Union, Members United Corporate Federal Credit Union, Southwest Corporate Federal Credit Union, and Constitution Corporate Federal Credit Union, Plaintiffs, v. U.S. BANK NATIONAL ASSOCIATION, […]

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U.S. Bank, Bank of America sued over mortgage securities

U.S. Bank, Bank of America sued over mortgage securities

18 December 2014

Of course! REUTERS- The U.S. credit union regulator said on Wednesday it filed a lawsuit against U.S. Bank and Bank of America over mortgage securities sold in the years leading up to the financial crisis. The National Credit Union Administration (NCUA) said the banks broke state and federal laws by failing their duties as trustees […]

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Deutsche Bank vs Beauvais | FL 3rdDCA – Because the Current Action was based upon the very same accelerated debt as the Initial Action, and because that Current Action was filed after the expiration of the five-year statute of limitations, it was barred

Deutsche Bank vs Beauvais | FL 3rdDCA – Because the Current Action was based upon the very same accelerated debt as the Initial Action, and because that Current Action was filed after the expiration of the five-year statute of limitations, it was barred

17 December 2014

H/T Dave Krieger Third District Court of Appeal State of Florida Opinion filed December 17, 2014. Not final until disposition of timely filed motion for rehearing. ________________ No. 3D14-575 Lower Tribunal No. 12-49315 ________________ Deutsche Bank Trust Company Americas, etc., Appellant, vs. Harry Beauvais, et al., Appellees. An Appeal from the Circuit Court for Miami-Dade […]

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View all servicers’ National Mortgage Settlement scorecards and corrective action plans

View all servicers’ National Mortgage Settlement scorecards and corrective action plans

17 December 2014

Executive Summary The following summary is an overview of the fourth set of compliance reports that I have filed with the United States District Court for the District of Columbia (the Court) as Monitor of the National Mortgage Settlement. The summary includes: An overview of the process through which my colleagues and I have reviewed […]

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Monitor: Banks Fail Three Tests, Issues Discovered at Ocwen Joseph Smith reports on NMS compliance, Ocwen consumer relief, and Chase RMBS Settlement

Monitor: Banks Fail Three Tests, Issues Discovered at Ocwen Joseph Smith reports on NMS compliance, Ocwen consumer relief, and Chase RMBS Settlement

17 December 2014

For immediate release: December 16, 2014 Contact: Hannah Harrill 919-508-7821 Monitor: Banks Fail Three Tests, Issues Discovered at Ocwen Joseph Smith reports on NMS compliance, Ocwen consumer relief, and Chase RMBS Settlement RALEIGH, N.C. – Joseph A. Smith, Jr., Monitor of the National Mortgage Settlement (NMS), the Ocwen National Servicing Settlement, and JP Morgan Chase […]

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OT: UCF Student Planning Conference Fund

OT: UCF Student Planning Conference Fund

17 December 2014

Please help support these UCF students reach their goal. Via GoFundMe We are the University of Central Florida’s Emerging Urban Knights Planning Association.  We are an organization created to help bridge the gap between planning professionals and students.  Our organization helps to create networks and relationships between professionals and students and to educate them on professionalism and technical skills required […]

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