Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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09/20/18

Progress Made, But Work Remains on Foreclosures, NJ Court Committee Says NJ Law Journal

Progress Made, But Work Remains on Foreclosures, NJ Court Committee Says
"The recommendations set forth by this committee will further improve on efforts to resolve housing disputes in a fair and equitable manner that benefits homeowners, lenders and communities throughout New Jersey," said the chairman

09/19/18

Wells Fargo offering loan mod scandal victims lowball settlements, mediation instead of fair compensation Einnews.com

Wells Fargo offering loan mod scandal victims lowball settlements, mediation instead of fair compensation
DannLaw suspects troubled bank has understated number of victims, urges all Wells borrowers who sought loan mods between 2010 and 2015 to seek legal advice.

09/18/18

MA Appellate Court Tells Chase They Can’t Sit on Two Chairs With One Ass Living Lies

MA Appellate Court Tells Chase They Can’t Sit on Two Chairs With One Ass
As Charles Marshall just quoted to me “it’s always refreshing when you find a judge who follows the law.” Chase can’t say that the Trust owns the loan since 2006 and that the loan was owned by WAMU in 2008. It can’t be both. And it can only be one allegation that survives — the “first sale.”

09/18/18

Starkey-v-Deutsche_Bank_N.T., et. al. 16-P-1594-Mass App Ct 2018 Foreclosuresinmass.com

Starkey-v-Deutsche_Bank_N.T., et. al. 16-P-1594-Mass App Ct 2018
16-P-1594 Appeals Court H. CHRISTOPHER STARKEY & another1 vs. DEUTSCHE BANK NATIONAL TRUST COMPANY, trustee,2 & others.3 No. 16-P-1594.

09/18/18

GUTTING THE UNDERBELLY OF THE BEAST – PART 7 Cloudedtitlesblog.com

GUTTING THE UNDERBELLY OF THE BEAST – PART 7
This is one of those sections which describes HOW “the system of things” is supposed to work. We all know that it doesn’t always work the way it’s supposed to. As a matter of fact,

09/18/18

Does the Debt Need to Transfer with the Mortgage? Living Lies

Does the Debt Need to Transfer with the Mortgage?
The answer is yes but the movement of the debt is often, all too often, presumed to have occurred. After more than a decade of research and analysis I find

09/13/18

Ten Years After the Crash, We’ve Learned Nothing Rolling Stone

Ten Years After the Crash, We’ve Learned Nothing
Ten years ago, on Saturday, September 13th, 2008, the world was about to end. The New York Federal Reserve was a zoo. Imagine NASA headquarters on the day a giant asteroid careens into the atmosphere. That was the New York Fed: all hands on deck, peak human panic.

09/13/18

Judge deals Wells Fargo another blow in mortgage scandal NY Post

Judge deals Wells Fargo another blow in mortgage scandal
Wells Fargo has not yet earned back the trust of New York Federal Judge Robert Drain. The US Southern District Court judge ruled this week that a New York homeowner The Post profiled in August who fought back against the denial of a mortgage modification request by Wells Fargo — had the right to have a new loan-modification request reviewed.

09/13/18

5TH U.S. CIRCUIT MAKES IT CLEAR … NO FREE HOUSE! MERS RULES! Cloudedtitlesblog.com

5TH U.S. CIRCUIT MAKES IT CLEAR … NO FREE HOUSE! MERS RULES!
For a number of posts since the McGinnis case was brought up, I’ve been talking about the assignments. I am not totally sure that the Burke’s lawyer was up to speed on any of what I’ve been talking about, but if we were to look up the assignment in question, which

09/12/18

The Recovery Threw the Middle-Class Dream Under a Benz NY Times

The Recovery Threw the Middle-Class Dream Under a Benz
Once a year or so, the economist Diane Swonk ventures into the basement of her 1891 Victorian house outside Chicago

09/12/18

Financial crisis of 2008 is still taking a bite out of your paycheck 10 years later CNBC

Financial crisis of 2008 is still taking a bite out of your paycheck 10 years later
Some 10 years after the global finance system nearly collapsed under the weight of reckless mortgage lending, the U.S. economy is still feeling the impact. And the reverberations will continue for some time.

09/11/18

A Top Goldman Banker Raised Ethics Concerns. Then He Was Gone. New York Times

A Top Goldman Banker Raised Ethics Concerns. Then He Was Gone.
By the tight-lipped standards of Goldman Sachs, the phone call from one of the firm’s most senior investment bankers was explosive.

09/10/18

UCC Hierarchy of Rights to Enforce Note and Mortgage Living Lies

UCC Hierarchy of Rights to Enforce Note and Mortgage
I have assembled a partial list of various possible claimants on the note and various possible claimants on the mortgage. Which one of these scenarios fits with your case? Once you review them you can see why most law students fall asleep when taking a class on bills and notes. Some of these students became practicing attorneys. Some even became judges.

09/10/18

Post-crisis bank rules survive but US consumers at risk under Trump Business Times

Post-crisis bank rules survive but US consumers at risk under Trump
TOUGHER US bank regulations designed to prevent another crippling financial meltdown have survived threats to undermine and weaken them - but the consumer protections that were a key feature remain at risk.

09/7/18

Is Glass-Steagall poised for a political comeback? American Banker

Is Glass-Steagall poised for a political comeback?
For the last couple of years, banking policy has been largely focused on the nuts and bolts of financial regulation.

09/07/18

Lehman Bros.’ bankruptcy a decade ago offers lessons to protect today’s consumers Washington Post

Lehman Bros.’ bankruptcy a decade ago offers lessons to protect today’s consumers
The bankruptcy filing of Lehman Bros. 10 years ago this month signaled that an already weak economy was in deep trouble. Caught in the storm were homeowners who found themselves underwater on their mortgages.

09/07/18

The two-year Wells Fargo horror story just won't end CNN

The two-year Wells Fargo horror story just won't end
Wells Fargo can't wake up from the nightmare that began exactly two years ago. What sounded at first like a run-of-the-mill bank settlement — a $185 million payment to atone for "sales practices" — has morphed into a cascade of scandals that has rocked one of America's most storied banks to its core.

09/06/18

The regulator, the whistleblower and the CEO: Key housing players reflect on the financial crisis 10 years later Market Watch

The regulator, the whistleblower and the CEO: Key housing players reflect on the financial crisis 10 years later
Ten years ago, a simmering financial crisis finally bubbled over. Lehman Brothers failed, credit markets seized up, the two behemoth mortgage companies were taken over by the government, and big banks merged, were bailed out, and took on brand new shapes.

09/04/18

The American Nightmare Thepennyhoarder.com

The American Nightmare
TEN YEARS AGO, THE ECONOMY WAS IMPLODING.
In late 2017, we asked readers to tell us their foreclosure stories. More than 50 people responded.
Over and over, they used the same word.
Nightmare.

09/04/18

Surviving a Motion to Dismiss: Submission of “Illustrative Materials” In Federal Court Living Lies

Surviving a Motion to Dismiss: Submission of “Illustrative Materials” In Federal Court
If you want to show examples of what you are alleging and can prove at trial (after discovery) the recent rules and decisions of the federal courts may help, if you are careful.

09/04/18

BANKING ON THE PUBLIC OPTION: WILL LA LEAD THE WAY FOR PEOPLE-OWNED BANKS? Whowhatwhy.org

BANKING ON THE PUBLIC OPTION: WILL LA LEAD THE WAY FOR PEOPLE-OWNED BANKS?
If Los Angeles were to establish a public bank — an issue its residents will vote on in the fall — one of two things could happen.

09/04/18

RBS meets $400 million consumer relief goal by handing out $130 million in relief Housing Wire

RBS meets $400 million consumer relief goal by handing out $130 million in relief
Just six months after the Royal Bank of Scotland reached a $500 million settlement with the state of New York over the bank’s mortgage practices in the run-up to the housing crisis

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