Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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08/29/20

Podcast: Attorney Tom Cox on How to Handle Mortgage Forbearances
Over the last 12 years, Maine attorney, Thomas Cox has changed how foreclosures happen… or don’t, in the state of Maine. He’s definitely one of the superstars from the last housing meltdown and he’s still representing consumers today. When it comes to problems with mortgages, Tom is as good as one gets.

08/28/20

The Farce of Wilmington Trust — a name without a body
As most people who have litigated in cases where Wilmington trust ids named it is a front or curtain behind which multiple players hide while they play games making the terrain as difficult as possible to navigate.

08/27/20

FHFA and FHA Extend Foreclosure, REO Eviction Moratoriums
UPDATE: The Federal Housing Administration (FHA) and HUD announced, shortly following FHFA's similar announcement, the third extension of its foreclosure and eviction moratorium through December 31, for homeowners with FHA-insured

08/26/20

How to start your defense in foreclosure cases
Periodically I publish a sample response letter to people who have submitted a registration form for our free review service. This provides an updated

08/25/20

Depression, Anxiety, Shame in a World of COVID, Foreclosures, Evictions — and Stress Like We Have Never Seen Before.
Just about everyone I speak with — and there are lots of them from all walks of life in and out of the legal world — have said out loud that they are suffering from mental and emotional distress derived from the year 2020

08/25/20

Federal agency delays surprise mortgage refinancing fee
After intense criticism about a new fee on homeowners who refinance their mortgages, the Federal Housing Finance Agency said it would delay the move for three months

08/25/20

A QUESTION OF LIABILITY?
It’s 2009. A Tampa homeowner was among thousands served by a process server with a Summons and Complaint to Foreclose because of an alleged default on their mortgage.

08/24/20

VA has no direct information about your mortgage loan — and neither does anyone else.
— And neither does Fannie or Freddie or Ginny. THE BOTTOM LINE IS THAT NONE OF THE DOCUMENTS OR RECORDS ARE REAL OR ADMISSIBLE IN EVIDENCE — BUT THAT IS ONLY TRUE IF YOU CHALLENGE THEM PROPERLY.

08/23/20

DoubleLine's Shinoda explains what housing has now that it didn't during the last crisis
A housing market bolstered by low interest rates, government support and strong demand has stayed afloat despite expectations, even with the economy under siege from the coronavirus pandemic. In fact, real estate owners entered the COVID-19 outbreak better prepared than during the 2008 global financial crisis,

08/21/20

LSF9 GETS CHUCKED ON PROCEDURE … PLUS BONUS CASES AND EVICTION NEWS!
JUNK LOAN POOL AND ITS TRUSTEE GET TOSSED IN MAINE CASE Due to multiple errors in civil procedure, the Maine Supreme Judicial Court has affirmed the judgment of the lower courts that LSF9 Master Participation Trust,

08/18/20

Ability to repay and qualified mortgages (ATR/QM)
Resources to help industry participants understand, implement, and comply with the Ability to Repay/Qualified Mortgage (ATR/QM) rule.

08/18/20

Rules on mortgage servicing
Resources to help industry understand, implement, and comply with the mortgage servicing rules.

08/18/20

Leaders must take action to halt foreclosure crisis for minorities
Communities of color across the United States, like African Americans and Latinos, have been notably hard hit with the coronavirus pandemic, from higher rates of illness and death to higher rates of unemployment, mortgage default, and eviction risk.

08/18/20

CFPB Issues Proposal to Permit Mortgage Lenders to Make Unaffordable Loans Without Consequences
Washington, D.C. – Today, the Consumer Financial Protection Bureau’(CFPB) announced a Notice of Proposed Rulemaking regarding the Dodd-Frank Act ability to repay and qualified mortgage rules.

08/18/20

HUD to extend foreclosure ban protecting 8.1 million people until 2021
The Department of Housing and Urban Development will extend a ban on evictions and foreclosures for homes backed by the Federal Housing Administration through the end of the year,

08/18/20

Loans For 1st-Time Homebuyers See Record Delinquencies
FHA mortgages require only a small down payment and are a path to homeownership for many lower-income, minority, and first-time homebuyers. But many are clearly in financial trouble.

08/17/20

Beware of Financial Rescue Scams Including Modifications
The offer of modification is actually inviting you to formally join the securitization process without getting paid for it. I write often about the illegality of the Wall Street schemes that have defrauded investors and homeowners

08/14/20

How to deal with ORPHAN LOANS Created by False Claims of Securitization of Debt
I know this is technical and even boring. But if you want to understand where tens of trillions of dollars went in 2008 and how it is about to happen again, you must read this.

08/14/20

The Con: Why Wall Street and Government Failed Us and Why We Haven’t Stopped Them
I highly recommend the new series The Con, an exceptionally thorough and compelling history of the 2008 financial meltdown. In an interview,

08/14/20

‘There’s going to be a lot of angry people.’ Despite Trump tweets, Americans still face weeks before more stimulus money arrives
President Donald Trump is “ready to send” more coronavirus stimulus money. But it remains unclear if that is enough to move stalled Congressional negotiations forward so that Americans can see more money in their pockets.

08/14/20

Aid to “Badly Managed” States Versus Aid to “Badly Managed” Wall Street Banks
According to the official press briefing transcript on August 8, President Donald Trump explained the stalemate between his administration and the Democrats in passing the latest stimulus bill as follows:

08/13/20

Wall Street Banks Sell Off in Midst of Largest Treasury Auction in History
The Federal Reserve has thrown everything just short of the kitchen sink at propping up the mega banks on Wall Street – the same ones that were never prosecuted for their fraudulent issuance of mortgage securities and causing the worse economic crash since the Great Depression in 2008. (The Fed bailed the same banks out back then also – to the tune of $29 trillion in cumulative loans.)

08/13/20

A ‘Middle Finger’ to Struggling Families: How a New Fee Is About to Make Refinancing Your Mortgage a Lot More Expensive
Refinancing a mortgage is about to get more expensive — potentially reshaping the math for millions of borrowers looking for savings amid a historic boom for home loans.

08/11/20

Attorney Max Gardner on the U.S. Economy Today – A Mandelman Matters Podcast
Max Gardner is widely recognized as the top consumer bankruptcy attorney in the country. He has won 101 out of 102 jury trials for consumers… and has trained literally thousands of lawyers all across the country on how to best represent homeowners at risk of foreclosure.

08/11/20

Delinquencies Growing; More Government Assistance Needed
COVID-19 continued to impact mortgage performance in May. CoreLogic said the number of loans in each stage of delinquency, with the exception of those in foreclosure, grew in

08/10/20

Millions Facing Eviction and Joblessness Get No Immediate Help from Trump’s New Executive Orders
President Trump’s latest executive orders to extend unemployment benefits and defer payroll taxes may be unconstitutional. Democrats had hoped to extend a program to give unemployed workers

08/08/20

'The Con’ Uncovers a Chilling, Maddening Unified Theory Of How The 2008 Crash Happened [Review]
Sometimes the biggest catastrophes leave no mark. The 1918 pandemic killed about 675,000 Americans, but left hardly a ripple in the cultural consciousness. It was forgotten by many until the outbreak of COVID. However,

08/08/20

In Executive Actions, Trump Extends Some Unemployment Benefits, Defers Payroll Taxes
At his Bedminster, N.J., golf resort on Saturday, President Trump signed four executive actions to provide economic relief amid the coronavirus pandemic. The actions amount to a stopgap measure, after failing to secure an agreement with Congress. The three memorandums and one executive order call for extending some enhanced unemployment benefits, taking steps to stop evictions, continuing the suspension of student loan repayments and deferring payroll taxes.

08/07/20

How to Fight Those “Declarations” from False Claimants in Foreclosures
The bottom line is that the loan account was extinguished contemporaneously with the origination or acquisition of the account. There is no loan account claimed as an asset of any company.

08/06/20

The Con,” a new five-part docuseries, examines the 2007-08 global financial crisis and the greedy bankers and politicians who got away with (figurative) murder.
inety-year-old Akron, Ohio, widow Addie Polk shot herself in the chest in October 2008 as sheriff’s department deputies were knocking on her door to serve a foreclosure notice—a horrific turn of events

08/05/20

A failure of our system': inside a damning take on the Great Recession
The Con is a comprehensive docuseries about how corruption and greed led to bankruptcy, homelessness and suicide in 2008

08/05/20

How to Analyze A Purported Assignment of Mortgage or Promissory Note
The execution of any document does not by itself create a legal event. First, the document is only valid if it memorializes an actual event. Second, the document is only valid if it complies with the facial requirements set forth by applicable statutes. Third, the document is only legally valid if it complies with the substantive requirements of applicable statutes. Let’s take a common example.

08/04/20

How Much Will Foreclosures Surge in the Months Ahead?
As Congress remains deadlocked on latest coronavirus relief package, new study anticipates worst-, middle-, and best-case outcomes for foreclosure rates.

08/04/20

Attorney General Becerra Reminds Mortgage Servicers of Their Obligations to California Homeowners During COVID-19 Pandemic
SACRAMENTO – California Attorney General Xavier Becerra today sent a letter to 33 mortgage servicers reminding the companies of their obligations to California homeowners and tenants under the Homeowner Bill of Rights.

08/04/20

Gary Dubin, Esq. Scores Another Victory for Homeowners in Hawaii in Notorious LSF9 Case
More kudos to Gary Dubin who keeps producing favorable decisions for homeowners. This ruling is important for a variety of reasons. This time it is all about the rules of evidence and legals tanding to even bring the claim.

08/03/20

How to Use Experts in Foreclosure Trials
The first thing you need to know is that the banks will never bring their own expert to contradict your expert. The second thing you need to know is that the use of an expert is complicated if you really want to achieve victory.

08/03/20

Homeowners Beware: Mortgage Servicers Still Can’t or Won’t Shoot Straight
Yves here. Tom Cox, theoretically retired Maine attorney who broke open how mortgage servicers engaged in large-scale, systematic frauds upon courts to foreclose on homeowners, is back with the sad news that not much has changed.

08/02/20

Stimulus Package Not 'Imminent,' As Bipartisan Talks Roll Into Next Week
With millions of Americans hoping for further stimulus checks and enhanced unemployment benefits, talks to secure a bipartisan agreement on further relief have been branded productive but are not near an agreement.

08/02/20

DISGRACED MINI-ME LAWYER MARK STOPA BITCH SLAPPED BY JUDGE
It seems as if someone wrote a book about Mark Stopa and his wife, Adrienne Federico People keep asking me for the latest information regarding mini-me lawyer Mark Stopa. Here it is in a nutshell. It seems to be the only activity with Stopa’s lawsuits is against Kevin Cannon.

08/02/20

How I Bought a House and Joined the Foreclosure Generation
When the economy imploded in 2007, millions of young homeowners saw their property values disintegrate. The American Dream was never the same.

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