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San Francisco Foreclosures Protested By State Officials: Supervisor Avalos Calls For Moratorium

San Francisco Foreclosures Protested By State Officials: Supervisor Avalos Calls For Moratorium


HuffPO-

Supervisor John Avalos introduced a resolution on Tuesday calling for a moratorium on San Francisco home foreclosures until state and federal measures protecting homeowners from unlawful practices are in place.

He also urged officials to support the California Homeowners Bill of Rights, a collection of six bills that would protect borrowers from mortgage fraud proposed by California Attorney General Kamala Harris.

“We have already lost so much due to the unconscionable predatory lending practices and foreclosure fast-tracking of the banks and mortgage industry,” said Avalos in a statement. “We have to do everything in our power to stop any more foreclosure activities until such time that state and federal reforms are in place ”

[HUFFINGTON POST]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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The Emperor Has No Clothes

The Emperor Has No Clothes


A sweet piece from Fmr. U.S. Senator from Delaware Ted Kaufman-

Here’s the highlight of his HuffPo piece

Biden, Schneiderman and a few other AGs see it differently. They have been insisting on further investigations before any settlement is reached. The charges in Biden’s suit against MERS include a series of allegations based on his investigations to date. Among them:

• Hiding the true mortgage owner and removing that information from the public land records.

• Creating a systemically important, yet inherently unreliable, database that created confusion and inappropriate assignments and foreclosures of mortgages.

 • Failing to ensure the proper transfer of mortgage loan documentation to the securitization trusts, which may have resulted in the failure of securitizations to own the loans upon which they claimed to foreclose. (This is called “securities fail” and is the theory that allows put backs that crush the bank/originators.)

 • Initiating foreclosures in the name of MERS without authority to do so or without appropriate controls to ensure the actions were being carried out by the actual owner of the mortgage.

 • Allowing the entry and management of data by those MERS members who are identified as owners or servicers in the MERS System, instead of controlling entry and management itself.

 • Initiating foreclosure actions in which the real party in interest was hidden, thus preventing homeowners from ascertaining who owned their mortgage in order to challenge whether or not they had a right to foreclose and limiting their legal defenses.

 Again, stay tuned. Together, Judge Rakoff and Attorney General Biden are finally demanding much of the information we need to truly reform Wall Street.

 

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Keep Wall Street Occupied, Get Creative

Keep Wall Street Occupied, Get Creative


A fast, easy, free, and non-violent way to drive the big banks out of their greedy little minds is sitting in your mailbox right now. You just don’t know it yet.

Funny, I personally was told about this a few months ago. This woman was getting 2-3 of these mailers from the same institution each week. She told me she did this! Brilliant!

 

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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