Articles Related To Mortgage Servicing Fraud

Date	Article Articles are added weekly	Source	Comment
04/29/17	Ocwen takes Massachusetts, Illinois to court to fight mortgage restrictions	PiggyBankBlog.com	Ocwen takes Massachusetts, Illinois to court to fight mortgage restrictions This is a .housingwire.com article. Nonbank says that states’ restrictions will cause “significant harm” to consumers. Last week, a raft of state regulators clamped new business restrictions on Ocwen Financial for alleged rampant errors with homeowners’ escrow accounts and other issues at the nonbank
04/28/17	A Whistle Was Blown, but Who Was Listening?	NYTimes.com	A Whistle Was Blown, but Who Was Listening? The Securities and Exchange Commission calls itself the whistle-blower’s advocate. But one participant in the agency’s lauded whistle-blower program isn’t so sure.
04/28/17	Florida Attorney Mark Stopa: The party seeking foreclosure must demonstrate that it has standing to foreclose.	Living Lies	Florida Attorney Mark Stopa: The party seeking foreclosure must demonstrate that it has standing to foreclose. PATRICK WALSH AND CATHERINE WALSH, Appellants, v. BANK OF NEW YORK MELLON TRUST, ETC., ET AL., Appellees. Case No. 5D15-1898.District Court of Appeal of Florida, Fifth District.
04/27/17	Richard Bowen: Is the Fed Really Interested In Protecting Consumers or Is It just Lip Service?	Living Lies	Richard Bowen: Is the Fed Really Interested In Protecting Consumers or Is It just Lip Service? Eric Ben Artzi … is a former risk officer at Deutsche Bank. Mr. Ben-Artzi was one of three former Deutsche Bank employees turned whistleblowers who in 2010-2011 notified regulators of improper accounting at Deutsche. What was discovered resulted in a five-year investigation and a $55 million settlement
04/24/17	Powell v. WELLS FARGO BANK, NA \| FL 4DCA	Stopforeclosurefraud.com	Powell v. WELLS FARGO BANK, NA \| FL 4DCA – neither party disputes the validity of the special indorsement appearing on the allonge filed with the original complaint, the Bank was required to prove a chain of transfers starting with the indorsee, GreenPoint Mortgage.
04/22/17	David Dayen: The CFPB Just Sued a Crooked Mortgage Servicer, but Indicted Itself	Living Lies	David Dayen: The CFPB Just Sued a Crooked Mortgage Servicer, but Indicted Itself n December 2013, the Consumer Financial Protection Bureau and 49 states issued a $2.1 billion consent order against Ocwen, one of America’s largest mortgage companies, for “violating consumer financial laws at every stage of the mortgage servicing process.” Three and a half years later
04/21/17	Here's a detailed breakdown of Ocwen's new restrictions by state	Housing Wire	Here's a detailed breakdown of Ocwen's new restrictions by state The servicing issues at Ocwen Financial are allegedly so widespread that some states are placing stricter restrictions on the nonbank, beyond freezing the company’s ability to acquire new mortgage servicing rights.
04/21/17	Elizabeth Warren on Big Banks and Their (Cozy Bedmate) Regulators	New York Times	Elizabeth Warren on Big Banks and Their (Cozy Bedmate) Regulators Wells Fargo’s board and management are scheduled to meet shareholders at the company’s annual meeting Tuesday in Ponte Vedra Beach, Fla. With the phony account-opening scandal still making headlines, and
04/20/17	CFPB sues Ocwen, alleges total failure of mortgage servicing process	Housng Wire	CFPB sues Ocwen, alleges total failure of mortgage servicing process April 20, 2017 is turning into D-Day for Ocwen Financial. On Thursday, a group of state banking regulators issued a series of cease-and-desist orders to Ocwen that prohibit the acquisition of new mortgage servicing
04/19/17	Securitization May Create Securities Out of Loans and MBS	Living Lies	Securitization May Create Securities Out of Loans and MBS There is an untested theory that could have significant impact if it was attempted by experienced securities counsel. The foundation lies in the way that mortgage loans were sold first to consumers as loan products and then traded in the secondary and tertiary markets as “investments.”
04/17/17	A Bank Even a Socialist Could Love	InTheseTimes.com	A Bank Even a Socialist Could Love “Money is a utility that belongs to all of us,” says Walt McRee. McRee is a velvety-voiced former broadcaster now plotting an audacious challenge to the financial system.
04/14/17	Citi continues moving away from mortgages as originations plummet	Living Lies	Citi continues moving away from mortgages as originations plummet Citigroup first-quarter earnings show that the bank is continuing to move further and further away from mortgages and into other lines of business (The bigger question is why is Citi moving away from originating and servicing consumer mortgages).
04/13/17	Wall Street’s House of Cards: Let’s Play Bankster Three Card Monte	Occupy.com	Wall Street’s House of Cards: Let’s Play Bankster Three Card Monte Welcome to another edition of “Homeowner Hunger Games.” Step right up ladies and gentlemen! Try to beat the house if you dare! Keep your eye on the queen and show me the green – put up your money, you’ve got this! You may already be a winner. Fill in that paper work. We’re here to help!
04/13/17	The Saga of Wells Fargo – Are Banks Reaping What They Sow?	Living Lies	The Saga of Wells Fargo – Are Banks Reaping What They Sow? Recent headlines bowled me over: Wells Fargo being forced to reinstate employees – whistleblowers – who reported the ethics issues to their superiors, and pay their back pay! Their Board of Directors report decision laying the responsibility of the 2 million plus unauthorized bank and credit accounts on the bank’s former CEO
04/12/17	Edmonds v. US Bank National Association \| FL 2DCA	Stopforeclosurefraud.com	Edmonds v. US Bank National Association \| FL 2DCA – Because the appellees failed to establish that notice of default was given as required by paragraph 22 of the mortgage
04/11/17	Hawaii Attorney Gary Dubin: Ten Most Important Ways of Surviving the Rule Ritual in Foreclosure Summary Judgment Proceedings	Living Lies	Hawaii Attorney Gary Dubin: Ten Most Important Ways of Surviving the Rule Ritual in Foreclosure Summary Judgment Proceedings Attorney Gary Dubin’s Foreclosure Workshop: An Updated Working Checklist of the Ten Most Important Ways of Surviving the Rule Ritual in Foreclosure Summary Judgment Proceedings
04/11/17	The damning 2004 report that Wells Fargo chose to ignore	Stopforeclosurefraud.com	The damning 2004 report that Wells Fargo chose to ignore An internal Wells Fargo report prepared 12 years ago — in August 2004 — eerily foretold the fake account scandal that has recently shaken Wells Fargo to its core.
04/10/17	Bank of America, N.A. v. Reyes-Toledo	JUSTIA USLaw	Bank of America, N.A. v. Reyes-Toledo Bank of America, N.A. filed a complaint seeking to foreclose on Homeowner’s property. Homeowner asserted numerous defenses, including
04/10/17	Wells Fargo v Lang \| NYSC	Stopforeclosurefraud.com	Wells Fargo v Lang \| NYSC – $480,000 Mortgage Declared Time-Barred, Foreclosure Dismissed with Prejudice.
04/08/17	New York Law: New Requirement on Lenders in Foreclosure Process Is Constitutional	Living Lies	New York Law: New Requirement on Lenders in Foreclosure Process Is Constitutional A new law in New York that says lenders’ legal representatives must bring all the necessary documentation to foreclosure settlement conferences with mortgage holders has been upheld by a judge.
04/07/17	Lessons to Learn About Mortgage Lawsuits from First Circuit Decision	Culiklaw.com	Lessons to Learn About Mortgage Lawsuits from First Circuit Decision Many important principles of mortgage and foreclosure law are dealt with in a recent case from the First Circuit Court of Appeals, the federal appeals court covering Massachusetts.
04/07/17	A Federal Reserve Bank Ignored Insider Trading Investigation When Re-Appointing Its President	Theintercept.com	A Federal Reserve Bank Ignored Insider Trading Investigation When Re-Appointing Its President NEW DOCUMENTS OBTAINED by a Federal Reserve watchdog group suggest that the Federal Reserve Bank of Richmond’s board of directors may have known that its president was under federal investigation when the board re-appointed him to a new term.
04/07/17	Subscribe to David Dayen’s Newsletter	Living Lies	Subscribe to David Dayen’s Newsletter David Dayen, author of the book Chain of Title, has launched a newsletter. If you are a fan of David Dayen, who has been instrumental in bringing foreclosure fraud issues to the national level, subscribe here:
04/07/17	Michigan Foreclosure King Republican David Trott of MI-11 introduces bill to enrich his foreclosure business	Living Lies	Michigan Foreclosure King Republican David Trott of MI-11 introduces bill to enrich his foreclosure business Republican Congressman David Trott from Michigan’s 11th Congressional District has a long and sordid history profiting from the “human misery” caused when his foreclosure business threw victims of the Bush Recession out of their homes. He didn’t just run a foreclosure-based law firm. He created a vertically integrated machine to ensure that he got profit every step of the way:
04/07/17	May v Nationstar Mortgage: Reckless Indifference resulting in Mental Anguish results in 500k punitive damages award	Living Lies	May v Nationstar Mortgage: Reckless Indifference resulting in Mental Anguish results in 500k punitive damages award Jeannie K. May, Plaintiff-Appellee, v. Nationstar Mortgage, LLC, Defendant-Appellant. Jeannie K. May, Plaintiff-Appellant, v. Nationstar Mortgage, LLC, Defendant-Appellee.
04/07/17	Republicans accuse CFPB of dawdling on Wells Fargo probe	Piggy Bank Blog	Republicans accuse CFPB of dawdling on Wells Fargo probe Republican lawmakers escalated their accusations that the Consumer Financial Protection Bureau was slow to start investigating allegedly fraudulent sales practices at Well Fargo & Co., saying the agency joined in well after other regulators.
04/06/17	7th Cir. Rejects Borrower’s Claims Against Mortgagee, Other Parties Under Rooker-Feldman	Lexology.com	7th Cir. Rejects Borrower’s Claims Against Mortgagee, Other Parties Under Rooker-Feldman The U.S. Court of Appeals for the Seventh Circuit recently affirmed the dismissal of a borrower’s lawsuit against his mortgagee, its former employees, counsel and appellate counsel, and the original mortgagee’s software platform creator, under various federal and state consumer protection statutes and common law torts.
04/06/17	Trump wants to cut off poor people’s legal lifeline	Thinkprogress.org	Trump wants to cut off poor people’s legal lifeline Without legal aid, there will be little assistance for those facing eviction, domestic violence, or huge amounts of debt.
04/06/17	FANNIE MAE: Lenders are advised that steps are being taken to suspend use of the “MERS as Original Mortgagee”	Stopforeclosurefraud.com	FANNIE MAE: Lenders are advised that steps are being taken to suspend use of the “MERS as Original Mortgagee” FANNIE MAE: Lenders are advised that steps are being taken to suspend use of the “MERS as Original Mortgagee” authorized change to the Maine security instrument (Form 3020)
04/06/17	Fed's Kashkari says JPMorgan's Jamie Dimon is dead wrong about banks	CNBC.com	Fed's Kashkari says JPMorgan's Jamie Dimon is dead wrong about banks Minneapolis Fed President Neel Kashkari is taking on the financial world's perhaps most well-known and powerful name — JPMorgan Chase CEO Jamie Dimon, whom the central bank official said recently made "demonstrably false" statements about the industry.
04/05/17	BLACKROCK ALLOCATION TARGET SHARES: SERIES S PORTFOLIO v. WELLS FARGO BANK, N.A. \| SDNY	Stopforeclosurefraud.com	BLACKROCK ALLOCATION TARGET SHARES: SERIES S PORTFOLIO v. WELLS FARGO BANK, N.A. \| SDNY – Plaintiffs claim that Defendant discovered pervasive documentation errors, breaches of seller representations and warranties (“R&Ws”), and systemic loan-servicing violations, but disregarded its contractual obligations to protect Plaintiffs therefrom because, among other consequences, doing so would have exposed Defendant to liability for its own RMBS-related misconduct
04/05/17	Republicans attack consumer financial watchdog as they push for his firing	LATimes.com	Republicans attack consumer financial watchdog as they push for his firing The chairman of a powerful House committee welcomed the nation’s top consumer financial watchdog to a hearing Wednesday by expressing surprise he showed up, and hoped he never does so again.
04/04/17	Despite Trump's claims, bank regulation hasn't slowed lending	CNBC.com	Despite Trump's claims, bank regulation hasn't slowed lending Foreclosure victims have been virtually invisible in Washington since the financial crisis. But they may finally get an ally.
04/04/17	May v. NATIONSTAR MORTGAGE, LLC \| 8th Cir.	Stopforeclosurefraud.com	May v. NATIONSTAR MORTGAGE, LLC \| 8th Cir. Foreclosure victims have been virtually invisible in Washington since the financial crisis. But they may finally get an ally. – $500k Damages – Evidence that Nationstar acted with a reckless indifference to her rights is legally sufficient to establish the requisite mental state to support the punitive damages awarded by the jury
04/04/17	AN ENEMY OF THE WALL STREET FORECLOSURE MACHINE IS RUNNING TO UNSEAT A GOP LAWMAKER IN CALIFORNIA	The Intercept	AN ENEMY OF THE WALL STREET FORECLOSURE MACHINE IS RUNNING TO UNSEAT A GOP LAWMAKER IN CALIFORNIA Foreclosure victims have been virtually invisible in Washington since the financial crisis. But they may finally get an ally. Katie Porter, a University of California-Irvine professor and public interest lawyer who authored one of the first academic studies of foreclosure fraud, and who helped thousands of California homeowners as a monitor of the national foreclosure fraud settlement, announced yesterday that she will run for Congress in California’s 45th Congressional district, against two-term Republican incumbent Mimi Walters.
04/03/17	Katie Porter, California mortgage settlement monitor and Warren protégé, running for Congress	Housing Wire	Katie Porter, California mortgage settlement monitor and Warren protégé, running for Congress The coming battle for control of Congress in 2018 has a new combatant, one that would bring significant experience in the mortgage space to the House of Representatives.
04/03/17	Allen v. WILMINGTON TRUST, NA \| FL 2DCA	Stopforeclosurefraud.com	Allen v. WILMINGTON TRUST, NA \| FL 2DCA – the Trust did not meet its burden of proving it satisfied the condition precedent of giving notice of acceleration
04/03/17	Wells Fargo faces another Investor lawsuit over defective mortgage securities	Living Lies	Wells Fargo faces another Investor lawsuit over defective mortgage securities Too Big to Fail behemoth Wells Fargo faces another lawsuit over faulty residential mortgage-backed securities. As investors become aware of the fraudulent securities purchased, more lawsuits are sure to be ignited.
04/03/17	District Judge in NY Knocks down Attempt to Avoid Statute of Limitations	Living Lies	District Judge in NY Knocks down Attempt to Avoid Statute of Limitations Ten years have expired since the alleged “default” occurred. Without any other action the maintenance of the property has been paid by somebody through the conduit of an alleged servicer probably using investor funds without investors knowing anything about it. Now suddenly someone, actually ANYONE, wants a judgment of foreclosure. They want a judgment for “unjust enrichment” as if that wasn’t rubbing salt in the wound of their incredibly wrongful foreclosure in the first instance.
04/03/17	Florida Supreme Court dismisses motion for rehearing in case concerning Florida Statute of Limitations	Living Lies	Florida Supreme Court dismisses motion for rehearing in case concerning Florida Statute of Limitations Last week a Manhattan court ruled in Costa v. Deutsche Bank that Deutsche Bank had failed to foreclose within the six year window and was therefore barred from collecting the debt. In the same week, the Florida Supreme Court denied a motion for rehearing in Bartram v. U.S. Bank regarding the statute of limitations in foreclosure cases, therefore ruling that there is no statute of limitation on mortgage debt in Florida.
04/03/17	Understanding Consumer Experiences: Insights from CFPB’s 2016 Consumer Response Annual Report	CFPB	Understanding Consumer Experiences: Insights from CFPB’s 2016 Consumer Response Annual Report Since beginning to accept consumer complaints more than five years ago, we have handled approximately 1,136,000 complaints. The insights we get from the questions consumers ask and the complaints they submit help us to better understand the problems consumers experience in the financial marketplace.
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