Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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07/24/25

ICE: Foreclosure Starts, Mortgage Delinquency Rate Increased in June
There were roughly 31,000 foreclosure starts nationwide in June, an increase of nearly 10% compared with May and up 36.5% compared with June 2024, according to ICE Mortgage Technology’s First Look report. In addition, the mortgage delinquency rate increased to 3.35%, up 4.74% compared with May but down 3.8% compared with June 2024. As of the end of the month there were about 1.834 million homes in some stage of delinquency, an increase of about 90,000 compared with the previous month but down about 39,000 compared with a year earlier.

07/24/25

Premier Member Editorial: It’s Time to Rethink Mortgage Servicing. Here’s Why.
I’ll start with a simple truth: too many lenders are still treating mortgage servicing like a side business rather than a strategic asset. That needs to change. I’ve spent the better part of my career advising mortgage companies, banks, and credit unions on how to improve performance—and right now, servicing is one of the most overlooked opportunities in our industry. For years, it’s lived in the shadow of origination. But in 2025, with volumes down, margins compressed, and borrower expectations higher than ever, the spotlight is shifting. Servicing isn’t just something you have to do. It’s something you can do better—and by doing so, gain a real edge.

07/24/25

Homeowners Losing Patience With Mortgage Servicers
Mortgage originators may be winning over borrowers, but their servicing counterparts are losing ground fast. According to the newly released J.D. Power 2025 U.S. Mortgage Servicer Satisfaction Study, customer satisfaction with mortgage servicers has dropped significantly this year, highlighting a growing divide in the customer experience between origination and servicing.

07/23/25

The Pro Se Litigant and Today’s Court Systems …
It’s going to be an uphill battle unless you understand the forum you’re in! From our friend and Foreclosure Defense expert Dave Krieger
(OP-ED)— This post is being initiated to stimulate your thought process as to what many perceive as the most hated, corrupt judicial system in America, especially in the foreclosure arenas around the country. This particular post is being offered to everyone equally, because we all benefit from the educational use of its ideas.
Between 2009 and 2016, over 10.2-million homes were foreclosed on. In my estimation, roughly 99.9% of those foreclosures were illegal. Based on the information that continues to surface, many litigants are finding that:

07/18/25

"Thank you for calling the FBI, now get lost"
Today, I called the FBI office in Detroit, relevant to their investigation of the Detroit judge receiving bribes. Deadline Detroit | Detroit News: FBI Investigating Detroit Judge Andrea Bradley-Baskin I was transferred to the FBI tip line. This rather shocking event then transpired--
I was asked by the Tip Line officer to recount why I was calling. When I tried to give her some brief input as to who I was and how I came upon this information, she cut me off, stating that she did not care about this. This is relevant because within a few minutes, she was asking how I came across the information.

07/17/25

California Enacts New Mortgage Servicing and Foreclosure Standards
On June 30, California Governor Newsom has signed AB 130, a budget trailer bill related to housing. This legislation includes new requirements for mortgage servicers of subordinate mortgages, defined in the bill, and took effect immediately. The text of the new statute, which comprises a very small portion of the full bill, may be found (here).

07/16/25

Thousands of veterans get help from Congress to save their homes from foreclosure
The Senate has passed a long-awaited fix for veterans designed to keep many from losing their homes, after a series of stumbles by the VA left thousands of veterans on the verge of foreclosure.

07/16/25

Congress Passes Legislation to Help Protect Veterans from Foreclosure by Reauthorizing Partial Claims with VA Home Loans
The U.S. Senate recently passed H.R. 1815, the VA Home Loan Program Reform Act, to reauthorize partial claims with U.S. Department of Veterans Affairs (VA) guaranteed home loans. The U.S. House of Representatives passed the legislation in May 2025, and the legislation now moves to President Trump for his signature.

07/15/25

White House advisor announces major mortgage loan changes for Fannie Mae, Freddie Mac
Securing a mortgage loan and saving for a down payment are widely considered the most difficult steps of the homebuying process. While income, credit score, outstanding debts, and traditional assets are included in mortgage loan assessments, digital assets are not.
William Pulte, the Trump administration's newly appointed director of the Federal Housing Finance Agency (FHFA), has revealed plans to integrate bitcoin and other cryptocurrencies into the mortgage loan application process.

07/15/25

Bill Would Channel Billions From Fannie/Freddie Sale Towards Affordable Housing
With federal interest swelling regarding the privatization of Fannie Mae and Freddie Mac, Reps. Tom Suozzi and Nicole Malliotakis have introduced a bipartisan bill calling for the federal government to dedicate as much as $250 billion received from ending the conservatorship of Fannie and Freddie to be invested in the construction of up to affordable housing.
Under the Housing for U.S. Act, union labor would be contracted to build up to 3.5 million housing units, dedicated specifically for middle-class Americans. After 10 years, the remaining funds would be used for deficit reduction.

07/15/25

Fraud Alert: Some Non-QM Lenders Excluding Loans Involving Certain Appraisers, Borrowers
Fannie Mae warns of multi-state, broker-led mortgage fraud linked with investment properties, a settlement company, multiple LLCs

07/14/25

CFPB could be eyeing LO compensation, mortgage servicing rule changes
While the Consumer Financial Protection Bureau (CFPB) may look much different after it is downsized, it still has several mortgage-related issues in its sights. A mortgage attorney said the agency still has a list of mortgage industry issues on its agenda.

07/10/25

CFPB Terminates Two Consent Orders Addressing Overdraft Fees and Mortgage Servicing Violations
On July 1, the CFPB terminated two separate consent orders, one involving a federal credit union and the other involving a national mortgage servicer. Both orders stemmed from 2024 enforcement actions and involved alleged violations of the Consumer Financial Protection Act (CFPA), with the mortgage servicing matter also receiving violations of the Real Estate Settlement Procedures Act, the Truth in Lending Act, and the Homeowners Protection Act.

07/08/25

Investors snap up growing share of US homes as traditional buyers struggle to afford one
LOS ANGELES (AP) — Real estate investors are snapping up a bigger share of U.S. homes on the market as rising prices and stubbornly high borrowing costs freeze out many other would-be homebuyers. Nearly 27% of all homes sold in the first three months of the year were bought by investors -- the highest share in at least five years, according to a report by real estate data provider BatchData. Between 2020 and 2023, the share of homes bought by investors averaged 18.5%. All told, investors bought 265,000 homes in the January-March quarter, an increase of 1.2% from the same period a year earlier, the firm said. Despite the modest annual increase, the rise in the share of investor home purchases is more a reflection of how much the housing market has slowed as traditional buyers face growing affordability constraints, according to BatchData.

07/06/25

Hundreds of people in New Hampshire have had their property sold out from under them by scammers. Here’s why
The FBI in Boston reports that between 2019 and 2023, New Hampshire homeowners were scammed out of more than $4 million in quit claim deed fraud.
Quit claim deeds transfer an owner’s interest in a property to another party and releases the owner from any future claims of ownership over the property. Scammers can forge these deeds in order to sell the property, take out a mortgage, or rent it to unsuspecting tenants.
Local ABC news station WMUR 9 in New Hampshire reported that 239 people were victims of deed fraud in between 2019 and 2023 and that homeowners must take steps to protect themselves — particularly if they own any vacant properties. Here’s what to know and how to ensure you’re not the victim of this kind of scam.

07/02/25

Welcome Back, Wells Fargo!
The past two decades have been tough ones for Wells Fargo and the many victims of its sprawling crime wave. While the banking industry is full of scammers, Wells took turning time honored street-hustles into multi-billion dollar white-collar hustles to a new level.
The Federal Reserve announced last month that Wells Fargo is no longer subject to the asset growth restriction the Fed finally enforced in 2018 after multiple scandals. This was a major enforcement action that prohibited Wells from growing existing loan portfolios, purchasing other bank branches or entering into any new activities that would result in their asset base growing.
Upon hearing the news that Wells was being released from the Fed’s penalty box, my mind turned to this pivotal moment in the classic movie “Slapshot.”

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