Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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11/26/18

How to Follow the Money
Ultimately all debts, notes and mortgages (or deeds of trust) are about money. They are not about property. The property is incidental to the deal and ONLY comes about if there is a dispute in which there is a claim that you didn’t pay money that is owed to the owner of the mortgage deed or the beneficial owner of a deed of trust.

11/23/18

Back to Basics: Countrywide as a Vehicle for Fraud on Borrowers and the Courts
Home Affordable Modification Agreement (HAMA) is really a HAMMER. In my discussions with Charles Marshall and Bill Paatalo we frequently analyze and discuss attributes of documents and the underlying real events that occurred,

11/23/18

THE ARROGANCE OF BANKS!?
No matter what defensive (or offensive) strategy is seemingly employed by homeowners (as borrowers), not only do we still get the same ‘ol, same ‘ol from bank attorneys (who actually represent the mortgage loan servicer and not the owner of the note themselves) as to their defamatory conjecture from “Your Honor, they (meaning the borrower) just want a free house!” … we still get the continued misrepresentation of the facts in a foreclosure action, whether it be judicial or non-judicial in nature.

11/21/18

Montgomery, Prince George’s file federal lawsuits accusing banks of peddling ‘predatory’ loans
WASHINGTON — Federal lawsuits filed Tuesday by Montgomery and Prince George’s counties claim banks flew in the face of Fair Housing protections, aiming to bilk black and Latino borrowers by guiding them toward higher-cost, subprime mortgage loans — considered a leading cause of the 2010 foreclosure crisis.

11/21/18

Appraisers accuse federal regulators of recreating housing crisis conditions
As one might expect, appraisers are none too pleased about the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve proposing to eliminate the appraisal requirement on certain home sales of $400,000 and below.

11/21/18

Predatory Lending and the Shell Game of Securitization …. The Mob would be ashamed
I. PREDATORY LENDING DEFINED Predatory lending is a syndrome of loan abuses that benefit mortgage brokers, lenders, and securitizers to the serious detriment of borrowers.

11/21/18

Flipping Fraud: Is It Really Any Different From What the Banks Are Doing?
Hat tip to one of our readers and a frequent client of lendinglies.com. Flipping Fraud: the act of getting a deed executed in the name of someone who doesn’t own the property and then selling the deed to a third party. Given the fact that ultimately when pushed to the wall none of the banks can actually prove title with facts,

11/20/18

“I Hereby Confess Judgment”
How an obscure legal document turned New York’s court system into a debt-collection machine that’s chewing up small businesses across America.

11/20/18

BankThink Time to clean house at Wells Fargo
Earlier this month, Wells Fargo, the third-largest bank in the United States, acknowledged that it improperly foreclosed on 545 distressed homeowners after they asked for help with their mortgages. The bank has exhibited a seemingly established pattern of negative behavior

11/19/18

CFPB Files SCOTUS Amicus Brief; Argues FDCPA Does Not Apply To Non-Judicial Foreclosure Proceedings
The CFPB has filed an amicus brief in the U.S. Supreme Court in support of the respondent/law firm defendant in Obduskey v. McCarthy & Holthus LLP, et al.,

11/19/18

11/20 - Give to the Team that pays it forward. WAFT seeking donations.
First as the recipient of our commitment to “Pay it Forward”, the information, love, commitment to justice and resources necessary for you to fight for your home and increasingly, our members are winning!

11/19/18

Ocwen: The Servicing Odyssey Continues…
In a Huffpost piece published a year ago I detailed some of the major problems that mortgage servicer Ocwen was having with some flawed software which had sent tens of thousands of homeowners scurrying about in a desperate effort to save homes from the auction block.

11/19/18

How to Beat the Shell Game
The bottom line is that the foreclosures are a sham. The proceeds of the foreclosure never go into a REMIC Trust because there is neither a REMIC election nor a Trust, much less any entity that outright owns the debt, note or mortgage. In order to win, you must know

11/17/18

Too Rich to Jail
WASHINGTON — When I was in Reykjavik in August, Icelanders were bragging about putting the corrupt bankers who ravaged their economy in prison. In America, it works somewhat differently.

11/16/18

Robo-Signing Returns, Raising Eyebrows And Acid Reflux
Residential Real Estate Robo-Signing Returns, Raising Eyebrows and Acid Reflux As part of the 10 year retrospective, Roy Oppenheim will be republishing blogs from South Florida Law Blog. (Originally posted SUN JUL 24, 2011 on South Florida Law Blog)

11/15/18

'Auntie Maxine' Waters Gets Ready To Take On The Banks As House Panel Chair
Maxine Waters of California is known as a partisan firebrand who gives as good as she gets, especially where President Trump is concerned.

11/15/18

The American Dream: Do the Right Thing Wells Fargo!
For many, the American dream is still about owning your own home. So imagine your financial situation, never as healthy as it was before the 2008 financial crisis, growing worse, you fall behind in your mortgage payments and contact your bank for help.

11/14/18

Four generation home lost to foreclosure
OMAHA, Neb. (WOWT) -- After living in one Omaha home for decades, it'll have a new owner. However, it's not by choice. Judi Lee, 75, is being forced to move out after failing to amend a loan.

11/14/18

CityViews: Unequal Treatment for Foreclosures in Brooklyn Courts?
In last week’s general election, more than 400,000 voters in Brooklyn selected seven civil judges (out of 11 names on the ballot) for Kings County Supreme Court.

11/14/18

Tinley Park family says embattled mortgage firm didn’t credit payments
TINLEY PARK, Ill. — A nationally known mortgage company is accused of “years of widespread errors” and botching basic functions like crediting customers’ payments and sending out accurate monthly statements.

11/12/18

U.S. Sues UBS for Fraudulent Sales of RMBS But Still Manages to Get It Wrong
The bottom line is that the loans themselves were fatally defective in terms of the loan documents. The money was delivered but not by the named “lender” nor anyone in privity with the named lender.

11/10/18

DEMOCRATS WHO VOTED TO DEREGULATE WALL STREET GOT WIPED OUT IN A SETBACK FOR BANK LOBBYISTS
THE MOST HIGH-PROFILE bipartisan legislation of the Trump era turned out to be electoral poison — or at least, not a prophylactic — for the Senate Democrats who decided to support it,

11/09/18

CURRENT STATUS OF TILA RESCISSION AND ITS APPLICATION TO PAST, PRESENT AND FUTURE FORECLOSURES
Ultimately there will be recognition that the courts are vetoing legislation passed by congress simply because the judges disagree or are afraid of the consequences if they were to apply the law.

11/08/18

DannLaw asks state courts to force Wells Fargo to disclose information about error that caused borrowers to lose homes
DannLaw attorneys representing clients who lost their homes due to a Wells Fargo’s computer “glitch” will ask judges in three states to compel the scandal-laden bank to turn over documents related to the error.

11/07/18

Wells Fargo Scams Continue Unabated — According to Their Own Reports
The take-away is that modifications are a scam to either steal the loan or force homeowners into foreclosure. If the modification is seen as completed, the loan has been stolen because the creditor has become a new and different party than anyone in the chain of title to the mortgage deed. If the modification is denied it is because they have never submitted it to any owner of the debt or their authorized representative and they are forcing homeowners into foreclosure, bankruptcy or both.

11/06/18

Wells Fargo admits it incorrectly foreclosed on 545 homeowners it should have helped
Wells Fargo acknowledged Tuesday that, because of a calculation error, it had improperly foreclosed on 545 distressed homeowners after they asked for help with their mortgages.

11/06/18

He never missed a payment, but the bank still foreclosed on his home anyway
NEW ORLEANS - Marcus Green knows the stress and anger of a customer-service nightmare. The repetitive phone calls to a string of service agents, each telling him something different. Letters demanding a resolution that never comes.

11/06/18

Fundamentals of Foreclosure
Probably the biggest mistake and most common mistake I ever made as a lawyer was by assuming certain things at the very beginning of a case. No case is more dangerous ground for assumptions than foreclosures.

11/02/18

WALL STREET MOVES TO GUT POST-CRISIS FINANCIAL RULES
ON THE CAMPAIGN trail, Donald Trump frequently pledged to “dismantle” the Dodd-Frank financial reforms passed in the wake of the 2008 financial crisis. On Wednesday, with the Federal Reserve’s release of a proposal to roll back capital and liquidity requirements, he caught his big whale.

11/02/18

Insider Lawsuit Summarizes the BIG LIE About “Securitization.”
This is an insider case filed in April 2018. The ironic aspect of this case is the probability that Nationstar probably does not have standing. But that aside, for those who remain skeptics

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