FORECLOSURE FRAUD | by DinSFLA - Part 6
JPMorgan Mortgage-Securities Deal Challenge Tossed by Judge

JPMorgan Mortgage-Securities Deal Challenge Tossed by Judge

21 March 2015

Bloomberg- JPMorgan Chase & Co.’s $13 billion fraud settlement with the U.S. can’t be blocked by a watchdog group because it couldn’t prove it was harmed by the deal. Better Markets Inc.’s lawsuit challenging the U.S Justice Department’s agreement with the bank was dismissed by a federal judge. The group, founded by a hedge fund […]

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Missing Citigroup Checks Spur Lawmaker to Call for Investigation

Missing Citigroup Checks Spur Lawmaker to Call for Investigation

21 March 2015

Bloomberg- Citigroup Inc.’s failure to pay 24,000 people owed money as part of a settlement with the government over foreclosure abuses has prompted a U.S. lawmaker to call for an investigation into whether banks missed other borrowers. Maxine Waters, the senior Democrat on the House Financial Services Committee, sent a letter Friday to the inspectors […]

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Ocwen settles class action over mortgage interest tax breaks

Ocwen settles class action over mortgage interest tax breaks

20 March 2015

Reuters- Ocwen Loan Servicing has agreed in principle to settle a nationwide class action accusing it of causing homeowners to lose valuable tax breaks by misreporting mortgage interest to U.S. tax authorities, according to a court filing on Wednesday.” If the deal goes through, it will be very good for the class,” plaintiffs’ lawyer David […]

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THE FORECLOSURE HOUR: What Every Homeowner Needs To Know About Robo Notaries

THE FORECLOSURE HOUR: What Every Homeowner Needs To Know About Robo Notaries

20 March 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  LISTEN TO KHVH-AM (830 ON THE AM RADIO DIAL) ALSO AVAILABLE ON KHVH-AM ON THE iHEART APP ON THE INTERNET   Host: Gary Dubin […]

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The Nonprofit Behind Billions in Mortgage Aid Is a Mess

The Nonprofit Behind Billions in Mortgage Aid Is a Mess

19 March 2015

Bloomberg- Hoping to deliver relief to Americans pounded by the financial crisis, the government has poured billions of dollars into a sort of Red Cross for homeowners. NeighborWorks America, a nonprofit chartered by Congress, distributes much of that money to counseling groups that dispense mortgage advice and sometimes financial aid. A close look at the […]

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One Bank Is Finally on Trial for the Financial Crisis

One Bank Is Finally on Trial for the Financial Crisis

19 March 2015

New Republic- The trial of the century—a long-awaited determination of the damage perpetrated by Wall Street institutions in the financial crisis—began Monday in New York. But it’s only happening because one bank—unlike Goldman Sachs, JP Morgan, Citigroup, and Bank of America—refused to settle out of court. The Japanese firm Nomura stands accused of lying to […]

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Bank of America loses bid to block shareholder proposal calling for breakup

Bank of America loses bid to block shareholder proposal calling for breakup

18 March 2015

The Charlotte Observer- The Securities and Exchange Commission denied Bank of America’s request to exclude a shareholder proposal from this year’s proxy that asks the Charlotte bank to examine ways to break itself up. The agency’s decision means Bank of America shareholders will get a chance to vote this spring on the proposal, although such […]

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Fannie, Freddie could need another bailout as risks rise: Watchdog

Fannie, Freddie could need another bailout as risks rise: Watchdog

18 March 2015

REUTERS- U.S. housing finance companies Fannie Mae and Freddie Mac could require more bailouts from U.S. taxpayers as risks are rising due to shrinking reserves, an internal watchdog for the firms’ regulator said on Wednesday. Washington bailed out the two firms in 2008 at the height of the financial crisis and has since seized all […]

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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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