Articles Related To Mortgage Servicing Fraud

Date	Article Articles are added weekly	Source	Comment
06/30/17	How the Home Flipping Industry Is Pushing Poor People Out of Their Homes	Alternet	How the Home Flipping Industry Is Pushing Poor People Out of Their Homes The United States has entered a new phase of residential foreclosure. The basic narrative is shocking: House-flippers are being allowed to push troubled homeowners out of their houses.
06/28/17	Recent Case Decision Summaries	Living Lies	Recent Case Decision Summaries Hat tip to Carlton Fields I have excerpted their case summaries relevant to foreclosure. They did a great job of providing key words for searches.
06/27/17	Despite exposés and embarrassments, hundreds of judges preside in New York without law degrees	Abajournal.com	Despite exposés and embarrassments, hundreds of judges preside in New York without law degrees The news releases are sent out with considerable regularity, brief and basic accounts of actions taken by the New York State Commission on Judicial Conduct: A judge is sanctioned for misconduct on the bench;
06/27/17	MERS and Securitization	Living Lies	MERS and Securitization Excerpt from Garfield’s Guide to Foreclosure Defense There are three flavors of securitization of loans: The concept of sharing risk in a large pool of loans The documents creating the infrastructure for securitization The actual transactional behavior of the participants
06/26/17	VERIZZO v. BANK OF NEW YORK MELLON \| FL 2DCA	Stopforeclosurefraud.com	VERIZZO v. BANK OF NEW YORK MELLON \| FL 2DCA We are again required to reverse a final judgment of foreclosure because of the plaintiff’s failure to prove at trial the existence of standing at the inception of the case
06/26/17	JPMorgan Chase Bombshell: The Mortgage Liens were Released and then Foreclosed anyways	Living Lies	JPMorgan Chase Bombshell: The Mortgage Liens were Released and then Foreclosed anyways Transcript Reveals How JPM Chase “Got away with it” — selling loans that were already sold, releasing liens and then foreclosing on nonexistent liens
06/25/17	‘Homeownership was a mirage’: How home buyers say their American dream became a nightmare	Indystar.com	‘Homeownership was a mirage’: How home buyers say their American dream became a nightmare Home ownership seemed out of reach to Ashley Glenn. That is, until a friend told her about an Indianapolis company run by Christians who help people that don't qualify for traditional mortgages.
06/25/17	Foreclosure Prevention is Paying Off claim the GSEs	Living Lies	Foreclosure Prevention is Paying Off claim the GSEs The GSEs claim to have prevented more than 49,000 foreclosures in the first quarter, an increase of nearly 5,000 preventions compared to Q4, according to the Federal Housing Finance Agency’s Q1 Foreclosure Prevention Report. Unfortunately, the majority of these loans that were prevented from being foreclosed upon were held by parties that had no evidence of standing or ownership, and therefore had no right to negotiate.
06/22/17	US Office of the Solicitor General files Amicus Brief in Investor False Claims Suit re: Schneider v JP Morgan Chase	Stopforeclosurefraud.com	US Office of the Solicitor General files Amicus Brief in Investor False Claims Suit re: Schneider v JP Morgan Chase IN THE UNITED STATES COURT OF APPEALS FOR THE DISTRICT OF COLUMBIA CIRCUIT UNITED STATES OF AMERICA, EX REL. LAURENCE SCHNEIDER, ET AL., Plaintiffs, LAURENCE SCHNEIDER, Plaintiff-Appellant, v. JPMORGAN CHASE BANK, NATIONAL ASSOCIATION; JPMORGAN CHASE & CO.; CHASE HOME FINANCE, LLC, Defendants-Appellees.
06/21/17	9th Circuit: Assignment in Breach of PSA is Voidable not Void. Here is why they are wrong	Living Lies	9th Circuit: Assignment in Breach of PSA is Voidable not Void. Here is why they are wrong SAN JUAN, Puerto Rico — Elvis Guzman opened the letter, saw it was in English and took it to his lawyer for translation.
06/21/17	Puerto Rico Grapples With Foreclosure Crisis as Thousands Lose Homes	NBCnews.com	Puerto Rico Grapples With Foreclosure Crisis as Thousands Lose Homes SAN JUAN, Puerto Rico — Elvis Guzman opened the letter, saw it was in English and took it to his lawyer for translation.
06/19/17	US TREASURY REPORT A GIFT TO WALL STREET, A THREAT TO CFPB AND EVERYONE ELSE	USPirg.org	US TREASURY REPORT A GIFT TO WALL STREET, A THREAT TO CFPB AND EVERYONE ELSE Last week, the U.S. Treasury Department came out with a report mandated by a Presidential executive order.
06/19/17	Trump plan gives more power to one regulator: Treasury Secretary Steven Mnuchin	Washingtonexaminer.com	Trump plan gives more power to one regulator: Treasury Secretary Steven Mnuchin The Trump administration's long-awaited recommendations for financial reform would reduce the power of regulators in favor of letting banks operate more freely, with one notable exception: More influence and authority would be given to one regulator, the Treasury secretary.
06/19/17	Trump plan gives more power to one regulator: Treasury Secretary Steven Mnuchin	Washingtonexaminer.com	Trump plan gives more power to one regulator: Treasury Secretary Steven Mnuchin The Trump administration's long-awaited recommendations for financial reform would reduce the power of regulators in favor of letting banks operate more freely, with one notable exception: More influence and authority would be given to one regulator, the Treasury secretary.
06/19/17	Banking On Wells Fargo: Financial Russian Roulette for Suckers	Occupy.com	Banking On Wells Fargo: Financial Russian Roulette for Suckers Welcome! Step right up – pull the handle, blow on the dice and have a drink on us... or better yet a Dum Dum lollipop on your way to homelessness.
06/19/17	Refinancing mortgage? Maybe you don’t need that appraisal after all	Miami Herald	Refinancing mortgage? Maybe you don’t need that appraisal after all Do we always need an appraiser to tell us what a house is worth? The two biggest sources of mortgage financing in the country — Freddie Mac and Fannie Mae — think not. With no formal public announcement, on June 19 Freddie Mac began phasing in its plan to transition to appraisal-free mortgage for certain loan applications.
06/19/17	Investigator Bill Paatalo BlockBuster Finding: WaMu Investor Code “AO1? Revealed – Chase Stipulates It Represents “WaMu Asset Acceptance Corp.”	Living Lies	Investigator Bill Paatalo BlockBuster Finding: WaMu Investor Code “AO1? Revealed – Chase Stipulates It Represents “WaMu Asset Acceptance Corp.” High praise to Attorney Ron Freshman in San Diego, CA and his paralegal Kimberly Cromwell who recently obtained this remarkable “Stipulation of Fact” from JPMorgan Chase Bank’s counsel.
06/18/17	MOAB: The Mothers of all Bubbles coming to a Town near You	Living Lies	MOAB: The Mothers of all Bubbles coming to a Town near You Editor’s Note: Right before the housing bubble burst in 2008 the American public was being told by the media and government that the economy was sound. We are now in the 9th year of an artificial recovery. If you look at the real economic indicators, we are at the tipping point that will likely make the 2008 Bubble look like a dress rehearsal for the real thing.
06/16/17	39 million households are paying more for housing than they can afford	CNN.com	39 million households are paying more for housing than they can afford Nearly 39 million households can't afford their housing, according to the annual State of the Nation's Housing Report from Harvard's Joint Center for Housing Studies.
06/16/17	10 states suffering the most from foreclosures	USA Today	10 states suffering the most from foreclosures Foreclosures in May were down 19% from the previous year, the 20th straight month of year-over-year declines, according to data released by ATTOM Data Solutions.
06/16/17	What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak	Living Lies	What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak Since the financial crisis, home equity has gone from being America’s biggest driver of (illusory) wealth to one of the biggest sources of economic inequality.
06/16/17	Senate Judiciary Committee chair wants answers on where all the mortgage settlement money went	Living Lies	Senate Judiciary Committee chair wants answers on where all the mortgage settlement money went Earlier this month, the Trump administration’s Department of Justice put a stop to an Obama administration tactic of dictating that some companies send settlement funds to unaffiliated third parties, a practice that Republicans criticized as a “slush fund” operation.
06/16/17	Treasury Report Recommends Keeping Data From Consumers	Living Lies	Treasury Report Recommends Keeping Data From Consumers An agency created to protect the interests of American consumers may be gutted by the Trump administration’s pursuits to cut back federal regulations.
06/16/17	What They Want to Hide Tells You Who They Are	Billmoyers.com	What They Want to Hide Tells You Who They Are The Treasury Department has released their report on financial regulations they want to scrap. Spoiler alert:
06/16/17	Trump names son’s wedding planner to lead federal housing office	Yahoo News	Trump names son’s wedding planner to lead federal housing office President Trump has named Lynne Patton, senior adviser during his presidential campaign and former vice president of the Eric Trump Foundation, as the head of federal housing programs in New York.
06/16/17	Cordray fights back against House Republican contempt threat	National Mortgage News	Cordray fights back against House Republican contempt threat WASHINGTON — A House Financial Services Committee report sharply criticizing the Consumer Financial Protection Bureau’s handling of the Wells Fargo phony-accounts scandal was biased and left out key information, according to Richard Cordray, the agency’s director.
06/15/17	Bankr WD Mo. Rejects 11th Circuit’s Meaning of “Surrender” in §521(a)(2) in Denying Wells Fargo’s Motion to Compel Debtor to Surrender Home	Nacba.org	Bankr WD Mo. Rejects 11th Circuit’s Meaning of “Surrender” in §521(a)(2) in Denying Wells Fargo’s Motion to Compel Debtor to Surrender Home The court is asked to consider the meaning of the word “surrender” in § 521(a)(2)(A) in an unusual context: where a secured creditor obtains stay relief, fails to timely foreclose, and mistakenly releases its lien, and the debtor who stated she would surrender the real estate attempts to leverage that mistake into a possible windfall.
06/15/17	It’s time to stop blaming poor people for the financial crisis	Washington Post	It’s time to stop blaming poor people for the financial crisis There's a popular theory of what caused the 2007-2008 housing crisis that goes something like this: The problem started when greedy bankers gave poor people loans to buy houses that lenders knew they couldn't afford.
06/15/17	Nationwide Title Clearing: Custom-made Assignments so you can illegally Foreclose!	Living Lies	Nationwide Title Clearing: Custom-made Assignments so you can illegally Foreclose! Investigator Bill Paatalo discovered a disturbing article written by Michael O’Connell, the COO for Nationwide Title Clearing, a company that creates tens of thousands of assignments as a third-party contractor.
06/14/17	86 percent of low-income Americans' civil legal issues get inadequate or no legal help, study says	ABA Journal	86 percent of low-income Americans' civil legal issues get inadequate or no legal help, study says A new report reveals the extent of the “justice gap” experienced by low-income Americans.
06/14/17	Wells Fargo Is Accused of Making Improper Changes to Mortgages	NY Times	Wells Fargo Is Accused of Making Improper Changes to Mortgages Even as Wells Fargo was reeling from a major scandal in its consumer bank last year, officials in the company’s mortgage business were putting through unauthorized changes to home loans held by customers in bankruptcy, a new class action and other lawsuits contend.
06/14/17	Goodbye to the Consumer Finance Protection Bureau	Bill Moyers	Goodbye to the Consumer Finance Protection Bureau One of President Trump’s key campaign promises was to dismantle much of the protection put into place after the 2008 financial crisis.
06/14/17	David Dayen: Gorsuch’s First Opinion: Let Debt Collectors Run Amok	Living Lies	David Dayen: Gorsuch’s First Opinion: Let Debt Collectors Run Amok Justice Neil Gorsuch’s first Supreme Court opinion won’t earn much notice in his biographies. The unanimous decision reads more like a grammatical lesson, scrutinizing one line of text in a decades-old statute.
06/14/17	Consent Order Reveals Multiple Sales of “Title”	Living Lies	Consent Order Reveals Multiple Sales of “Title” Bill Paatalo wrote me an email (see below) that is actually an article. If you ever thought that the banks were in any way playing by the rules, maybe this article will be the straw that breaks the camel’s back.
06/13/17	THE REAL THREAT TO WALL STREET REFORM IS THE TREASURY DEPARTMENT, NOT CONGRESS	The Intercept	THE REAL THREAT TO WALL STREET REFORM IS THE TREASURY DEPARTMENT, NOT CONGRESS THE TREASURY DEPARTMENT’S first report recommending changes to the financial regulatory system wildly differs from the plan to dismantle Dodd-Frank that House Republicans passed — and the Trump administration endorsed — just last week.
06/11/17	Rep. Matt Cartwright: Why reopening Wall Street 'casino' wrong choice for Main Street	Mcall.com	Rep. Matt Cartwright: Why reopening Wall Street 'casino' wrong choice for Main Street When the 2007 financial crisis struck, Wall Street was the epicenter. Big banks tricked Americans into mortgages they couldn't afford through predatory lending practices. Then, they packaged those doomed mortgages into securities, which they traded as triple-A securities, even though they knew they were rotten at the core.
06/09/17	Post-Foreclosure Stress Disorder: Barriers Keeping Buyers from Market	Dsnews.com	Post-Foreclosure Stress Disorder: Barriers Keeping Buyers from Market U.S. homeownership rates have been at a 50-year low despite improving local job markets and historically low mortgage rates. Research commissioned by the National Association of Realtors (NAR) said there are five main barriers
06/08/17	Breaking Up the Banks Is Easier Than You Might Think	Thenation.com	Breaking Up the Banks Is Easier Than You Might Think Donald, listen, whatever you’ve done so far, whatever you’ve messed up, there’s one thing you could do that would make up for a lot. It would be huge! Terrific! It could change our world for the better in a big-league way! It could save us all from economic disaster! And it isn’t even hard to grasp or complicated to do. It’s simple, in fact. Reinstitute the Glass-Steagall Act. Let me explain.
06/07/17	Your consumer protections, on the brink of destruction in Congress	NYDailynews.com	Your consumer protections, on the brink of destruction in Congress When Congress sought to make sure that abuses by the financial industry that put our economy on the brink of collapse would never be repeated, it created the Consumer Financial Protection Bureau. Since its founding in 2011, the CFPB has delivered resoundingly, providing $12 billion in relief to 29 million consumers wronged by banks and other institutions.
06/07/17	Secret Printer Code Could Be Breakthrough for Homeowners	Living Lies	Secret Printer Code Could Be Breakthrough for Homeowners It seems more likely than not that the fabrications and forgeries of documents used in foreclosure and in trading were ultimately printed on a printer that conformed to Federal requirements. This could identify several facts about the documents that the banks and servicers have been denying for years.
06/06/17	Justice Department Weighs In Against Wells Fargo in a Whistle-Blower Suit	NYTimes.com	Justice Department Weighs In Against Wells Fargo in a Whistle-Blower Suit Fresh woes for Wells Fargo and a victory for two of its whistle-blowers occurred late Tuesday when the Justice Department filed a friend-of-the-court brief in a lawsuit brought against the bank by two former employees, who were fired after they tried to report misdeeds they had observed to their supervisors.
06/05/17	Ocwen Loses Bid for Early Test of CFPB’s Constitutionality	Bloomberg BNA	Ocwen Loses Bid for Early Test of CFPB’s Constitutionality A federal judge June 2 blocked Ocwen Financial Corp.’s bid to test the constitutionality of the Consumer Financial Protection Bureau in the early stage of a closely watched enforcement case ( Cons. Fin. Protection Bureau v. Ocwen Fin. Corp. , S.D. Fla., 17-cv-80495, 6/2/17 ).
06/05/17	Collateral & Securitization Failures: There was no Loan in most Refinances	Living Lies	Collateral & Securitization Failures: There was no Loan in most Refinances Below is a link to a video where GlobalCollateral’s Chief Commercial Officer Ted Leveroni discusses collateral settlement failures and he basically states that the securitization failed. Collateral fail and securitization fail are exactly the same thing.
06/05/17	Does the Trust Even Exist? Probably Not.	Living Lies	Does the Trust Even Exist? Probably Not. The fact is that many trusts do not exist as “legal persons.” The drafting of an instrument declaring the intent to create a trust does not create a trust until it is signed by a trustor.
06/03/17	GLASS-STEAGALL ACT REDUX INTRODUCED INTO THE SENATE	Clouded Titles Blog	GLASS-STEAGALL ACT REDUX INTRODUCED INTO THE SENATE For those of you that are interested in the reintroduction of the Glass-Steagall Act (which banned the banks from getting into the securities business) by Democratic Massachusetts Senator Elizabeth Warren, here’s a copy of the latest poop:
06/01/17	The Bankers Behind the Financial Crisis Actually Got Promoted	Vice	The Bankers Behind the Financial Crisis Actually Got Promoted Millions lost their homes and jobs, and not only did the bankers not go to jail, most of them got new and better gigs, according to a new study.
06/01/17	THE IRONY: OCWEN SUES FIDELITY INFORMATION SERVICES OVER ‘FRAUDULENT, ABUSIVE BILLING SCHEME’	4closurefraud.org	THE IRONY: OCWEN SUES FIDELITY INFORMATION SERVICES OVER ‘FRAUDULENT, ABUSIVE BILLING SCHEME’ Ocwen Financial Corp. has filed a lawsuit in California Superior Court alleging that Fidelity Information Services LLC (FIS) inflated its monthly rate and charged Ocwen for a variety of expenses while serving as its monitor for a 2015 mortgage servicing settlement case.
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