Daily News related to the Foreclosure Crisis

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11/29/17

Trump's Consumer Victory Officially Makes a Joke of Financial Reform

Rolling Stone

Trump's Consumer Victory Officially Makes a Joke of Financial Reform
Nearly a decade after the crash, Trump makes a mockery of one of the few meaningful checks on the financial services industry

11/29/17

A consumer protection agency, or a ‘rogue’ one?

CSmonitor.com

A consumer protection agency, or a ‘rogue’ one?
A judge has OK'd President Trump's appointment at the Consumer Financial Protection Bureau. The larger debate: Where Democrats sought to create an agency free from political interference, Republicans say it lacks political accountability.

11/28/17

Counsel’s Corner: Brigham Lundberg talks Foreclosure Environment

DS News

Counsel’s Corner: Brigham Lundberg talks Foreclosure Environment
There are a number of decisions regarding the Fair Debt Collections Practice Act (FDCPA) being issued this year. What can law firms expect to learn from the decisions in these cases?

11/27/17

Casting Wall Street as Victim, Trump Leads Deregulatory Charge

NY Times

Casting Wall Street as Victim, Trump Leads Deregulatory Charge
A decade after the financial crisis, the federal government is easing up its policing of Wall Street and the banking industry, even without actually repealing broad swaths of regulation.

11/27/17

How The Dodd-Frank Act Plays Into The CFPB Succession Debate

NPR

How The Dodd-Frank Act Plays Into The CFPB Succession Debate
As the showdown over the leadership of the Consumer Financial Protection Bureau continues, NPR's Robert Siegel talks with Georgetown University law professor Adam Levitin about what the law says about the succession of bureau directors.

11/27/17

Goodwin Procter Grabs Anthony Alexis, Formerly CFPB's Enforcement Chief

The National Law Journal

Goodwin Procter Grabs Anthony Alexis, Formerly CFPB's Enforcement Chief
Anthony Alexis, the former enforcement director of the Consumer Financial Protection Bureau, is joining Goodwin Procter, where he will lead the firm’s consumer financial services enforcement

11/27/17

Mulvaney Shows Up For Work At Consumer Watchdog Group, As Leadership Feud Deepens

WBUR

Mulvaney Shows Up For Work At Consumer Watchdog Group, As Leadership Feud Deepens
The new head of the Consumer Financial Protection Bureau started work Monday — whoever that is.

11/27/17

WHITE HOUSE MEMO JUSTIFYING CFPB TAKEOVER WAS WRITTEN BY PAYDAY LENDER ATTORNEY

The Intercept

WHITE HOUSE MEMO JUSTIFYING CFPB TAKEOVER WAS WRITTEN BY PAYDAY LENDER ATTORNEY
The lawyer who wrote the Office of Legal Counsel memo supporting the Trump administration’s viewpoint that the president can appoint Mick Mulvaney as acting director

11/25/17

Why Wall Street and Republicans hate the CFPB

CNN

Why Wall Street and Republicans hate the CFPB
Many people on Wall Street and Republicans on Capitol Hill don't like the Consumer Financial Protection Bureau, and they don't like Elizabeth Warren.

11/22/17

Wells Fargo Admits To Executing WaMu Note Endorsement in 2013, And Gets Away With It!

BPinvestigativeagency.com

Wells Fargo Admits To Executing WaMu Note Endorsement in 2013, And Gets Away With It!
This decision out of an Arkansas Bankruptcy Court has to be one of the most bizarre rulings I have ever read to-date. (See: Schiefer v Wells Fargo – Arkansas).

11/22/17

Fannie Mae sells $124 million in non-performing loans to nonprofits

Housing Wire

Fannie Mae sells $124 million in non-performing loans to nonprofits
Fannie Mae announced Wednesday that it selected the winning bidders in its latest Community Impact non-performing loan sale,

11/22/17

Foreclosure: Debtor Who Fails to Pay Has an Uphill Battle Finding a Remedy Based on Procedural Defects

Deadly Clear

Foreclosure: Debtor Who Fails to Pay Has an Uphill Battle Finding a Remedy Based on Procedural Defects
It appears the homeowners were victims of a nationwide predatory mortgage lending scheme, a complex confidence game – as most homeowners were,

11/22/17

Judge rips Colorado AG’s case against foreclosure giant as “groundless and frivolous,” orders state to pay attorneys’ fees

Denverpost.com

Judge rips Colorado AG’s case against foreclosure giant as “groundless and frivolous,” orders state to pay attorneys’ fees
The Colorado attorney general’s office was so haphazard and reckless in its failed pursuit to prove former foreclosure king Larry Castle and his law firm had defrauded thousands of consumers that a judge

11/21/17

US BANK TRUST NATIONAL ASSOCIATION v. Lopez, 2017 IL App (2d)

Stopforeclosurefraud.com

US BANK TRUST NATIONAL ASSOCIATION v. Lopez, 2017 IL App (2d)
As assignment of debt to Plaintiff must have occurred after foreclosure complaint was filed, assignment of mortgage did not give Plaintiff the rights of a holder, and Plaintiff lacked standing at the time complaint was filed.

11/21/17

Here are the changes to California's Homeowner Bill of Rights you need to know

Housing Wire

Here are the changes to California's Homeowner Bill of Rights you need to know
Riddled throughout California’s Homeowner Bill of Rights are the words “repealed” effective “Jan. 1, 2018.” Unfortunately,

11/21/17

CA Judge: HELOC Notes Are Not Negotiable Instruments — Possession Is Not Enough — Pretender Lenders Must Prove the Debt and Ownership

Living Lies

CA Judge: HELOC Notes Are Not Negotiable Instruments — Possession Is Not Enough — Pretender Lenders Must Prove the Debt and Ownership
Here we have a ruling that firmly states the obvious, with widespread ramifications. HELOC (Home Equity Line of Credit) promissory notes

11/20/17

Banks Continue to Manipulate Foreclosure Filings to Create Illusion that Crisis is Over

Living Lies

Banks Continue to Manipulate Foreclosure Filings to Create Illusion that Crisis is Over
One thing is very clear: the mega banks — who control nearly all foreclosures — are using algorithms to start and stop foreclosures so as to create the impression that foreclosures are not a big problem.

11/17/17

Giant Middle Finger to Consumers' as Trump Looks at Mulvaney to Head CFPB

Common Dreams

Giant Middle Finger to Consumers' as Trump Looks at Mulvaney to Head CFPB
"This is no place for another Trump-appointed industry hack."

11/17/17

California Attorney Patricia Rodriguez: Litigation of Possession of Real Property & Unlawful Detainer In California

Living Lies

California Attorney Patricia Rodriguez: Litigation of Possession of Real Property & Unlawful Detainer In California
By Patricia Rodriguez, California Attorney at Law
The Plaintiff (the bank in an unlawful detainer) must prove three issues:

11/16/17

IN 2015, SIX OF THE SEVEN LARGEST HAMP SERVICERS WRONGFULLY TERMINATED HOMEOWNERS OUT OF HAMP

Deadly Clear

IN 2015, SIX OF THE SEVEN LARGEST HAMP SERVICERS WRONGFULLY TERMINATED HOMEOWNERS OUT OF HAMP
SIGTARP’s concerns over servicer misconduct contributing to homeowner redefaults in HAMP have been borne out. Treasury’s findings

11/16/17

Ocwen is NOT Entitled to Invoke the Benefits of a Legal Presumption

Living Lies

Ocwen is NOT Entitled to Invoke the Benefits of a Legal Presumption
The banks are winning most cases because homeowners choose not to defend. The second most reason for this fraudulent winning streak is

11/15/17

Richard Cordray Stepping Down As Head Of U.S. Consumer Protection Agency

NPR

Richard Cordray Stepping Down As Head Of U.S. Consumer Protection Agency
Richard Cordray, the embattled director of Consumer Financial Protection Bureau, announced Wednesday

11/15/17

Discovery Where Freddie or Fannie Is Alleged to be Owner of Loan

Living Lies

Discovery Where Freddie or Fannie Is Alleged to be Owner of Loan
Fannie and Freddie are the equivalent of black holes in physics. Representations abound that they own a loan, or note, or mortgage or debt. What this testimony shows is that

11/14/17

HALLOWEEN OVER, BUT CONGRESS MIXING UP WITCHES' BREW OF BANK ROLLBACKS ANYWAY

US PIRG

HALLOWEEN OVER, BUT CONGRESS MIXING UP WITCHES' BREW OF BANK ROLLBACKS ANYWAY
It's Halloween again in the banking committees on Capitol Hill, with tricks for consumers and taxpayers, and treats for banks and payday lenders.

11/13/17

Behind the Lucrative Assembly Line of Student Debt Lawsuits

NY Times

Behind the Lucrative Assembly Line of Student Debt Lawsuits
“This is robosigning all over again,” said Robyn Smith, a lawyer with the National Consumer Law Center, a nonprofit advocacy group, referring to the way that banks, at the height of the mortgage crisis, brought thousands of foreclosure lawsuits without reviewing the underlying paperwork.

11/13/17

3rd DCA Florida Reverses Judgment for Homeowner

Living Lies

3rd DCA Florida Reverses Judgment for Homeowner
“This is an example of self-validating bias. While the court’s reasoning was correct, the application of that reasoning to the facts was incorrect. The Judgment should have been affirmed.”

11/11/17

Judge: ‘I’ve never seen such horrible treatment’ of a homeowner

Tampa Bay Times

Judge: ‘I’ve never seen such horrible treatment’ of a homeowner
As head of civil processing for the Pinellas County Sheriff’s Office, Sgt. Tim Grundmann supervised employees who serve subpoenas, eviction notices and notices of foreclosure.

11/10/17

As lenders targeted veterans with risky mortgages, VA failed to act

Politico

As lenders targeted veterans with risky mortgages, VA failed to act
The Department of Veterans Affairs has known for more than a year that military service members were being sold a flood of costly and risky mortgages and done little to stop it.

11/09/17

Fannie Mae selling $1.23bn in NPLs to Goldman Sachs subsidiary

Housing Wire

Fannie Mae selling $1.23bn in NPLs to Goldman Sachs subsidiary
Fannie Mae just announced the results of its latest sale of non-performing loans and the winning bidder is a familiar name - MTGLQ Investors.

11/09/17

Mi’kmaq First Nation files land claim for vast portion of New Brunswick

Global News

Mi’kmaq First Nation files land claim for vast portion of New Brunswick
The Elsipogtog Mi’kmaq First Nation is laying claim to a large parcel of land in southeastern New Brunswick.

11/08/17

Clerks Audit Foreclosure Auction Systems After Bid-Rigging Indictment

Daily Business Review of Law.com

Clerks Audit Foreclosure Auction Systems After Bid-Rigging Indictment
Palm Beach Clerk & Comptroller Sharon Bock is taking no chances.

11/08/17

The Tricky World of Unlawful Detainer and Eviction

Living Lies

The Tricky World of Unlawful Detainer and Eviction
It may be fairly said that in nonjudicial states, the banks take the greatest risk when they file, as Plaintiff, in an unlawful detainer action. It is the first time

11/07/17

Ocwen Financial: A Servicing Odyssey

HuffPost

Ocwen Financial: A Servicing Odyssey
Remember that obstinate computer from Stanley Kubrick’s 2001: A Space Odyssey — HAL 9000 — a machine with a will of its own?

11/07/17

Steven Mnuchin, Foreclosure King Of America

HuffPost

Steven Mnuchin, Foreclosure King Of America
Secretary of the Treasury for the .01 percent.
Cross-posted from TomDispatch.com Treasury Secretary Steven Mnuchin doesn’t exactly come across as the guy you’d want in your corner in a playground tussle.

11/07/17

RESCISSION IS A FACT — NOT A THEORY OR CLAIM

Living Lies

RESCISSION IS A FACT — NOT A THEORY OR CLAIM
The above quote was penned by Justice Scalia writing for a unanimous Supreme Court of the Untied States, the highest court in the land.

11/06/17

UK ex-PM Says Bankers Should be Jailed Or We Will Continue to See Large Scale Bank Fraud

Living Lies

UK ex-PM Says Bankers Should be Jailed Or We Will Continue to See Large Scale Bank Fraud
The interesting takeaway from Prime Minister Gordon Brown’s comments is his use of the word “fraud.” And the use of that word is widely accepted by most people around the world who were affected by the financial “Crisis” ( would liken it more to an attack).

11/04/17

CFPB Issues Interim Final Rule To Help Mortgage Servicers Communicate With Certain Borrowers At Risk Of Foreclosure

CFPB

CFPB Issues Interim Final Rule To Help Mortgage Servicers Communicate With Certain Borrowers At Risk Of Foreclosure
Bureau Also Seeks Comment on Separate Proposed Rule Modifying Timing Requirements for Bankruptcy Periodic Statements

11/04/17

Detroit: From Motor City to Housing Incubator

NY Times

Detroit: From Motor City to Housing Incubator
The 2008 financial crisis and 2013 city bankruptcy gutted Detroit’s housing market. Now, Detroit is experimenting with unorthodox ways to get people to buy homes and renovate houses that would be vacant otherwise.

11/03/17

Homeowner to homeless: The brutal reality of the Detroit foreclosure auction

Detroit Free Press

Homeowner to homeless: The brutal reality of the Detroit foreclosure auction
Steve Colvin sank into his graying couch and let out a deep, guttural sigh.

11/03/17

New York sees big increase in first-time foreclosures

REW

New York sees big increase in first-time foreclosures
The number of first-time foreclosures in New York City surged 79 percent year-over-year in Q3 2017, with 859 homes scheduled, compared to 481 in Q3 2016, according to a report from PropertyShark.

11/02/17

Mortgage industry stands behind Trump’s Fed chair pick

Housing Wire

Mortgage industry stands behind Trump’s Fed chair pick
As predicted, President Donald Trump nominated current Maryland Federal Reserve Governor

11/02/17

Bad for consumers: Congress hands a gift to the financial industry

Pittsburgh Post Gazette

Bad for consumers: Congress hands a gift to the financial industry
Banks and credit card companies were once able to prohibit their customers from banding together to file class-action lawsuits. Buried in the fine print of customer agreements,

11/02/17

TILA Rescission: My Current Analysis

Living Lies

TILA Rescission: My Current Analysis
The strong antipathy that judges have for TILA Rescission has caused them to directly flout the provisions of a Federal statute and the the direct instruction from their boss — the Supreme Court of the Untied States (SCOTUS).

11/01/17

Keane v. HSBC Bank USA, N.A., MERS

Stopforeclosurefraud.com

Keane v. HSBC Bank USA, N.A., MERS
1st Cir- motion to vacate the prior order dismissing his case is reversed, the order dismissing the case is vacated

11/01/17

Investigator Bill Paatalo: Nationstar Conducts “Bulk Note Sales” Without The “Notes?”

Living Lies

Investigator Bill Paatalo: Nationstar Conducts “Bulk Note Sales” Without The “Notes?”
In 2013, investors in six “RALI Series” Trusts filed a complaint in New York against their Master Servicer (Nationstar Mortgage, LLC) for conducting “Bulk Note Sales” of

11/01/17

Ocwen picks Black Knight to take over mortgage servicing operations

Housing Wire

Ocwen picks Black Knight to take over mortgage servicing operations
Ocwen Financial is officially moving its mortgage servicing operations away from its proprietary REALServicing platform

11/01/17

Mark Calabria: Trump administration "committed" to ending conservatorship

Housing Wire

Mark Calabria: Trump administration "committed" to ending conservatorship
During a wide-ranging discussion about the government’s role in housing, Vice President Mike Pence’s chief economist Mark Calabria revealed Wednesday that the Trump administration is "committed" to ending the conservatorship of Fannie Mae and Freddie Mac.

January | February | March | April |May | June | July | August | September | October | November | December
 
Repair Your Credit
Improve. Monitor. Protect.
Save $50 off Credit Repair Service - Applies to first-work fee for each spouse sign-up.
Need a Lawyer? LegalMatch allows you to present your case, and respond only to lawyers who want to help you. It's Free & Confidential.

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