Posted on 08 June 2011. Tags: 15-page bank proposal, 16-page document, 27-page document, 50 state settlement, adam levitin, agreement, Ally Financial, attorney generals, auction, bank of america, Business News, CFPB, Charles W. Calomiris, CitiGroup, CONSENT ORDERS, Consumer Financial Protection Bureau, counter, Daniela L. Gilbert, department of housing and urban development, Draft Uniform Servicing Standars, Eric J. Higgins, Eric Schneiderman, Exclusive, False Claims Act, Federal Housing Administration, flip, foreclosure fraud, Foreclosure Investigation, Freddie Mac, HUD IG, John Walsh, Joseph R. Mason, jpmorgan chase, Lender Processing Services Inc., LPS, MERS, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., OCC, Office Of The Comptroller Of The Currency, principal reduction, principle reduction, Rex T. Gilbert, servicers, shaun donovan, short sale, State Attorneys General, subpoenas, wells fargo
Lets not act surprised in this as we always knew there was something cooking behind the scenes and not everyone agreed and probably disappointed with the approach Tom Miller from Iowa was heading.
WaPO-
As state attorneys general continue their months-long settlement negotiations with the nation’s largest banks over widespread problems in foreclosure practices, they have yet to resolve differences within their own group on key issues.
Even within the 14-member “executive committee” of attorneys general who are leading the 50-state coalition, some have very different visions of what exactly a settlement should look like.
[…]
A handful of crucial states, including California, Illinois and New York, have undertaken their own investigations into mortgage industry practices, subpoenaing information about business practices and seeking meetings with executives about such things as securitization to faulty court affidavits. Other officials, such as in Oklahoma, have threatened to pursue their own settlements with mortgage servicers.

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
Posted in STOP FORECLOSURE FRAUD
Posted on 07 June 2011. Tags: 15-page bank proposal, 16-page document, 27-page document, 50 state settlement, adam levitin, agreement, Ally Financial, attorney generals, auction, bank of america, Business News, CFPB, Charles W. Calomiris, CitiGroup, CONSENT ORDERS, Consumer Financial Protection Bureau, counter, Daniela L. Gilbert, department of housing and urban development, Draft Uniform Servicing Standars, Eric J. Higgins, Eric Schneiderman, Exclusive, False Claims Act, Federal Housing Administration, flip, foreclosure fraud, Foreclosure Investigation, Freddie Mac, HUD IG, John Walsh, Joseph R. Mason, jpmorgan chase, Lender Processing Services Inc., LPS, MERS, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., OCC, Office Of The Comptroller Of The Currency, principal reduction, principle reduction, Rex T. Gilbert, servicers, shaun donovan, short sale, State Attorneys General, subpoenas, wells fargo
HuffPO-
The nation’s largest mortgage companies are operating on the assumption that they will have to pay as much as $20 billion to resolve claims of widespread foreclosure abuse, an amount four times what they had originally proposed, the top federal official overseeing the discussions told state officials Monday, according to people who participated in the conversation.
Associate U.S. Attorney General Tom Perrelli told a bipartisan group of state attorneys general during a conference call that he believes the banks have accepted the realization that a wide-ranging settlement to the months-long probes will cost them much more than the $5 billion offer they floated last month, according to officials with direct knowledge of the call. Perrelli said he’s basing his belief on his recent conversations with representatives of the five targeted firms: Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial.

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
Posted in STOP FORECLOSURE FRAUD
Posted on 03 June 2011. Tags: Ally Financial, bank of america, Business News, CitiGroup, Consumer Financial Protection Bureau, department of housing and urban development, Eric Schneiderman, Exclusive, False Claims Act, Federal Housing Administration, foreclosure fraud, Foreclosure Investigation, HUD IG, jpmorgan chase, Lender Processing Services Inc., LPS, MERS, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., shaun donovan, State Attorneys General, subpoenas, wells fargo
LA Times–
A settlement between a coalition of federal and state agencies and banks over foreclosure practices will come in a “matter of weeks,” Shaun Donovan, secretary of Housing and Urban Development, told the Los Angeles Times.
Donovan’s agency is involved in the negotiations with the banks, along with attorneys general from all 50 states and officials from the Justice Department and other federal agencies.
continue reading… LA TIMES
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
Posted in STOP FORECLOSURE FRAUD
Posted on 16 May 2011. Tags: Ally Financial, bank of america, Business News, CitiGroup, Consumer Financial Protection Bureau, department of housing and urban development, Eric Schneiderman, Exclusive, False Claims Act, Federal Housing Administration, foreclosure fraud, Foreclosure Investigation, HUD IG, jpmorgan chase, Lender Processing Services Inc., LPS, MERS, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., State Attorneys General, subpoenas, wells fargo
Boy does this have loads of Meat…
HuffPO EXCLUSIVE by Shahien Nasiripour
WASHINGTON — A set of confidential federal audits accuse the nation’s five largest mortgage companies of defrauding taxpayers in their handling of foreclosures on homes purchased with government-backed loans, four officials briefed on the findings told The Huffington Post.
The five separate investigations were conducted by the Department of Housing and Urban Development’s inspector general and examined Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, the sources said.
[…]
The state of Illinois has begun examining potentially-fraudulent court filings, looking at the role played by a unit of Lender Processing Services. Nevada and Arizona already launched lawsuits against Bank of America. California is keen on launching its own suits, people familiar with the matter say. Delaware sent Mortgage Electronic Registration Systems Inc., which runs an electronic registry of mortgages, a subpoena demanding answers to 75 questions. And New York’s top law enforcer, Eric Schneiderman, wants to conduct a complete investigation into all facets of mortgage banking, from fraudulent lending to defective securitization practices to faulty foreclosure documents and illegal home seizures.

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
Posted in STOP FORECLOSURE FRAUD
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