FORECLOSURE FRAUD | by DinSFLA - Part 41
Supreme Court holds oral argument in Jesinoski v. Countrywide Home Loan

Supreme Court holds oral argument in Jesinoski v. Countrywide Home Loan

06 November 2014

H/T Public Citizen- The Supreme Court held oral argument yesterday in Jesinoski v. Countrywide Home Loan, a case potentially important to consumers and their advocates. The question presented is Does a borrower exercise his right to rescind a transaction in satisfaction of the requirements of Section 1635 [of the Truth in Lending Act] by “notifying […]

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Matt Taibbi: The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare

Matt Taibbi: The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare

06 November 2014

Meet the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking Rolling Stone- She tried to stay quiet, she really did. But after eight years of keeping a heavy secret, the day came when Alayne Fleischmann couldn’t take it anymore. “It was like watching an old lady get […]

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Wells Fargo in talks with government to resolve mortgage fraud case

Wells Fargo in talks with government to resolve mortgage fraud case

06 November 2014

Resolve this and there is another one lurking around the corner…So resolve this! The State- Wells Fargo said Wednesday it is in discussions with the U.S. government to possibly resolve a 2-year-old mortgage fraud case. The government filed the civil lawsuit in 2012 against the San Francisco-based lender, accusing it of “reckless” origination of government-backed […]

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Florida man found a body inside a foreclosed house he purchased at an auction

Florida man found a body inside a foreclosed house he purchased at an auction

06 November 2014

NBC 6- The News-Press of Fort Myers reports Cape Coral resident William Wilson bought the light pink house for $96,000 on Tuesday. When he went to evaluate his purchase on Wednesday, he found a corpse on the master bedroom floor. Cape Coral police cordoned off the property and began a death investigation.Neighbors told the newspaper […]

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Morgan Stanley may face legal claims from U.S. govt -filing

Morgan Stanley may face legal claims from U.S. govt -filing

05 November 2014

Reuters- Morgan Stanley said on Tuesday it is responding to potential legal claims from government entities, including the U.S. Department of Justice and several state attorneys general over mortgage securities. The Wall Street bank said some matters with government entities, which are part of the RMBS Working Group of the Financial Fraud Enforcement Task Force, […]

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US foreclosure rates are falling — unless you’re billionaire Bill Erbey… FORECLOSES on homeowners through is “captured” subsidiary Altisource

US foreclosure rates are falling — unless you’re billionaire Bill Erbey… FORECLOSES on homeowners through is “captured” subsidiary Altisource

05 November 2014

He’s done and I hope this opens up more investigations! Was he part of the backdated letters to homeowners?   NY POST- The real estate tycoon foreclosed on 1,022 houses last quarter through his company Altisource Residential — a record, according to a quarterly presentation released Tuesday. The skyrocketing foreclosure rate seemingly contradicts statements Erbey […]

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Ohio Public Employees Retirement System v FREDDIE MAC | Freddie Mac Off Hook in Subprime Exposure Suit

Ohio Public Employees Retirement System v FREDDIE MAC | Freddie Mac Off Hook in Subprime Exposure Suit

05 November 2014

Courthouse News- The Ohio Public Employees Retirement System failed to prove Freddie Mac concealed a $2 billion loss on risky mortgages from investors before a 2007 financial report set its stocks reeling, a federal judge ruled. The retirement system, alternately known as OPERS, sued the Federal Home Loan Mortgage Corporation in January 2008, alleging that […]

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County could sue Lender Processing Services (LPS) over image use

County could sue Lender Processing Services (LPS) over image use

04 November 2014

KPC NEWS- A real estate database company has used information from the DeKalb County Recorder’s Office without paying, and the county may consider taking legal action, county officials said Monday. Lender Processing Services allegedly used more than 315,000 images from DeKalb County, County Recorder Katie Firestone told the DeKalb County commissioners Monday. She said using […]

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David J. Reiss and Jeffrey Lederman. “Comment on the FHFA’s Small Multifamily Subgoal”

David J. Reiss and Jeffrey Lederman. “Comment on the FHFA’s Small Multifamily Subgoal”

04 November 2014

Comment on the FHFA’s Small Multifamily Subgoal David J. Reiss, Brooklyn Law School Jeffrey Lederman, Brooklyn Law School Abstract As the FHFA sets the housing goals for 2015-2017, it should focus on maximizing the creation and preservation of affordable housing. Less efficient proposed subgoals should be rejected unless the FHFA has explicitly identified a compelling […]

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CalPERS gets $249 million in Bank of America mortgage settlement

CalPERS gets $249 million in Bank of America mortgage settlement

04 November 2014

Sacbee- CalPERS said Monday it has received a $249.3 million payment from Bank of America, the result of a settlement over toxic mortgage securities purchased by the pension fund during the housing bubble. With the Bank of America settlement, the California Public Employees’ Retirement System said it has now recovered more than $500 million from […]

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Former GMAC head named CEO for new Fannie, Freddie subsidiary

Former GMAC head named CEO for new Fannie, Freddie subsidiary

04 November 2014

Where is GMAC today? My point EXACTLY! Washington Business Journal- David Applegate, the former president of GMAC Mortgage and chairman of GMAC Bank, has been named the first chief executive of Common Securitization Solutions LLC, the new Fannie Mae and Freddie Mac subsidiary that will operate in the secondary mortgage market. Applegate, whose GMAC career […]

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Wells Fargo V Allen | NYSC – Judge Orders Wells Fargo to Bring in Two Witness Concerning the Accuarcy of Their Affidavits.

Wells Fargo V Allen | NYSC – Judge Orders Wells Fargo to Bring in Two Witness Concerning the Accuarcy of Their Affidavits.

03 November 2014

NEW YORK SUPREME COURT — QUEENS COUNTY WELLS FARGO against Keith C. Allen, Zola Allen, et. al., Excerpt: Therefore, it is hereby ORDERED, that plaintiff produce Amanda Weatherly, Vice Preisident of Loan Documentation For Wells Fargo Bank, and that she appear, for the aforementioned hearing to give testimony regarding her affidavit; and it is further, […]

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FHFA Concessions Show Mortgage Lenders Have Regained Sway in D.C.

FHFA Concessions Show Mortgage Lenders Have Regained Sway in D.C.

03 November 2014

They no longer give a shit what anyone thinks. Industries control Washington, control the regulators. National Mortgage News- Mortgage lenders finally got what they wanted from Washington. In the last few months Federal Housing Finance Agency Director Mel Watt has struck a conciliatory tone with mortgage lenders, seeking input on housing policy and changing loan-buyback […]

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Lyons v. US Bank | Washington Supreme Court – Violations of the Consumer Protection Act (CPA)

Lyons v. US Bank | Washington Supreme Court – Violations of the Consumer Protection Act (CPA)

31 October 2014

H/T Karen Pooley IN THE SUPREME COURT OF THE STATE OF WASHINGTON WINNIE LYONS, a single person, Appellant, v. U.S. BANK NATIONAL ASSOCIATION, as trustee for Stanwich Mortgage Loan Trust Series 2012-3, by Carrington Mortgage Services, LLC; WELLS FARGO BANK, N.A., a chartered national bank; Wells Fargo Bank, N.A., as serv1cer, Defendants, and NORTHWEST TRUSTEE […]

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In Depth: How Big Business Buys State Courts

In Depth: How Big Business Buys State Courts

31 October 2014

No comment. Truth-OUT Buying Justice More than 90 percent of judicial business in the United States is decided in state courts, and with business interests tangled up in much of the litigation, it’s easy to understand why corporations spend big on state judicial campaigns. “Special interest groups continue to dump money into state supreme court […]

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Ocwen Announces a Recorded $100 million charge for potential settlement with New York regulator over back-dated letters to homeowners

Ocwen Announces a Recorded $100 million charge for potential settlement with New York regulator over back-dated letters to homeowners

31 October 2014

Didn’t this violate a previous settlement? This isn’t the first time either involving letters: Ocwen to Pay $3.7 Million to Massachusetts Over Failure to Provide Notices to Homeowners, Unlawful Foreclosures How do you track where this money is going? Shouldn’t it be used to repay the homeowners? Way too much fraud happening and the homeowners […]

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Dale A. Whitman: WHAT WE HAVE LEARNED FROM THE MORTGAGE CRISIS ABOUT TRANSFERRING MORTGAGE LOANS

Dale A. Whitman: WHAT WE HAVE LEARNED FROM THE MORTGAGE CRISIS ABOUT TRANSFERRING MORTGAGE LOANS

30 October 2014

WHAT WE HAVE LEARNED FROM THE MORTGAGE CRISIS ABOUT TRANSFERRING MORTGAGE LOANS Dale A. Whitman* Editors’ Synopsis: The vast expansion of the secondary mortgage market posed great challenges to the legal principles governing the mortgage transfer system. Not only were parties not adhering to the rules set forth under the Uniform Commercial Code, but even […]

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Consumer Bureau Finds Homeowners Harmed by Loan Companies

Consumer Bureau Finds Homeowners Harmed by Loan Companies

30 October 2014

Unless they put a stop to this madness, they will continue to find homeowners, students etc etc continue to get screwed by both the Bankstas with their side kick the Government. We’ve had enough of the regulators BS expressing, “We intend to hold them accountable”. We don’t believe you. Bloomberg- The three-year-old U.S. consumer protection […]

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Screwing Our Vets Is an American Tradition

Screwing Our Vets Is an American Tradition

30 October 2014

HuffPO- We have a long and proud history in this country of neglecting our veterans. It’s a tradition that goes back as far as the Civil War, if not longer. In the last few decades though, that we’ve allowed the behavior to not only continue, but to be ratcheted up a few notches from simple […]

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Lobbying of FL AG Bondi may have broken law

Lobbying of FL AG Bondi may have broken law

30 October 2014

Laws were broken the minute she entered the game in 2010. Tampa Bay Times- Partners with a powerful Washington, D.C., law firm aren’t registered as Florida lobbyists, but that hasn’t stopped them from wining and dining Attorney General Pam Bondi the past four years to discuss clients. Bondi dropped suits or declined to investigate cases […]

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[VIDEO] Your foreclosure nightmare may not be over

[VIDEO] Your foreclosure nightmare may not be over

29 October 2014

ALJAZEERA- Since the recession, over 4 million people have made the difficult decision to give up their homes, believing they were walking away from their debt. Lenders hit with more than $1 trillion of foreclosed loans are looking to recoup some of their losses through a legal process known as deficiency judgment, in which borrowers […]

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SUPPORT GEORGE SHELDON FOR FLORIDA ATTORNEY GENERAL 2014 – The People’s Lawyer

SUPPORT GEORGE SHELDON FOR FLORIDA ATTORNEY GENERAL 2014 – The People’s Lawyer

29 October 2014

Why George George Sheldon’s experiences in various forms of private and government services uniquely prepare him to be a great Attorney General who looks out for the interests of all Floridians.  But more importantly, he is an honest man of principles and one who has experience working across the aisle with Independents and Republicans to […]

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