Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

2020

2019

2018

2017

2016

2015

2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1990's
January | February | March | April | May | June | July | August | September | October | November | December
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.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us

 Date

Article

Articles are added weekly 

Source

  Comment

02/18/20

Homeowners Join Class Action Lawsuit Against Roxbury Based BlueHub Capital Alleging Predatory Lending Practices WGBH

Homeowners Join Class Action Lawsuit Against Roxbury Based BlueHub Capital Alleging Predatory Lending Practices
A group of 14 homeowners filed a class-action suit in Massachusetts Superior Court Friday against a Roxbury based non-profit, alleging that they are the victims of predatory lending practices while facing foreclosure or financial hardship. The lawsuit, financed by the Neighborhood Assistance Corporation of America (NACA) was hand delivered to the offices of BlueHub Capital — formerly Boston Community Capital — and several of the homeowners allegedly victimized by its practices. Bruce Marks, NACA's founder and CEO, represents the homeowners who joined the lawsuit, and turned to BlueHub Capitol for assistance.

02/18/20

Fed Slashes 14-Day Repo Loans to $25 Billion; Will Cut Further in March Wall Street On Parade

Fed Slashes 14-Day Repo Loans to $25 Billion; Will Cut Further in March
Federal Reserve Chairman Jerome Powell sat through two days of grueling hearings before the House Financial Services Committee and Senate Banking Committee last week. At numerous times, the Fed and Powell were portrayed by Congressional members as sugar daddies for Wall Street while aloof to the financial suffering of the average American.

02/18/20

Strange Stuff on Wall Street: Big Job Cuts, Fed Bailout, Record Markets Wall Street On Parade

Strange Stuff on Wall Street: Big Job Cuts, Fed Bailout, Record Markets
HSBC has become the latest bank with a big Wall Street footprint to announce job cuts. After announcing that its 2019 profits fell by about a third, it said it would cut 35,000 jobs over the next three years.

02/18/20

Quiet Title — Not as Easy as It Sounds But It Could Lead to Successful Strategies and Tactics Living Lies

Quiet Title — Not as Easy as It Sounds But It Could Lead to Successful Strategies and Tactics
The failures to disclose material facts providing the real context of the “loans” deprived borrowers of choice between lenders and deprived them of the opportunity of bargaining for terms that were based upon the economic reality — that the main point of the loan origination was not the loan but rather the sale of unregistered securities.

02/17/20

Paatalo Scores Again: Where do those payments go? Living Lies

Paatalo Scores Again: Where do those payments go?
As I have repeatedly stated on these pages, commingling funds from investors with (a) other investors and (b) third parties is the root of the securitization scheme and the basis upon which the brokerage houses (investment banks) are able to convert your money to their money.

02/17/20

Will the Bubble Burst? Living Lies

Will the Bubble Burst?
We are now on the longest stock bubble in history – stocks are up way above the tech boom. GDP was 4% then and 2% now. The difference? The government is STILL printing money and dumping it on the financial institutions in the form of overnight repo lending money – almost all of which is going right back into the stock market thus extending this bubble artificially.

02/13/20

Bankruptcy courts punished Synergy Law again and again. Its customers kept losing their homes anyway. San Antonio Express-News

Bankruptcy courts punished Synergy Law again and again. Its customers kept losing their homes anyway.
Ron and Ann Jones were watching Fox News one night in early 2018 when they saw a commercial that made them sit up. A company called Synergy Law said it could help people modify their home loans.

02/13/20

Another Person Dies Fighting Fake Foreclosure by Wells Fargo Living Lies

Another Person Dies Fighting Fake Foreclosure by Wells Fargo
Larry Delassus, of Hermosa Beach, California, lost his house two years ago after the bank thought he was behind on his property taxes but it was actually his neighbor

02/13/20

Fed Chair Tells Congress There Is a 10-Year “Game Plan” to Deal with Financial Crisis But No Plan to Deal with Americans Left Devastated By It Wall Street On Parade

Fed Chair Tells Congress There Is a 10-Year “Game Plan” to Deal with Financial Crisis But No Plan to Deal with Americans Left Devastated By It
During his testimony to the Senate Banking Committee yesterday, Federal Reserve Chairman Jerome Powell let it slip out, for the first time, that the Federal Reserve has had a 10-year game plan to deal with the financial crisis.

02/12/20

First Steven Mnuchin came for your homes… Medium.com

First Steven Mnuchin came for your homes…
Now, as Secretary of the Treasury, he’s going after more: your social safety net; read, Medicaid/Medicare, the Children’s Health Insurance Program, food stamps, student debt-forgiveness and if you believe that Social Security is safe, well… I’ve got a deal on a bridge you just can’t pass by.

02/12/20

A Proactive Approach to Loss Mitigation DS News

A Proactive Approach to Loss Mitigation
During the 2010s, our industry saw foreclosures fall to record lows as the economy experienced a full decade without a recession. At the same time, however, residential properties were negatively impacted by a host of natural disasters with a scope and frequency not seen before. As we now transition

02/11/20

Former Chase Home Lending CEO Mike Weinbach moving to Wells Fargo Housing Wire

Former Chase Home Lending CEO Mike Weinbach moving to Wells Fargo
Weinbach will lead consumer lending, which includes mortgages

02/11/20

New Rules Making Life Easier for Banks Living Lies

New Rules Making Life Easier for Banks
The most basic problem is still not addressed. The Volcker rule attempted to make banks play by rules of common sense, to which the banks rely that life is more complicated than that.

02/11/20

Foreclosures in Boston down 60 percent, hit 17-year low, mayor says WCVB

Foreclosures in Boston down 60 percent, hit 17-year low, mayor says
BOSTON — Foreclosures in Boston have dropped 61 percent since 2018, reaching a 17-year low, Mayor Marty Walsh announced Tuesday. Citywide, foreclosure executions were reduced from

02/11/20

The Government Takes a Step Toward Releasing Fannie Mae and Freddie Mac The Motley Fool

The Government Takes a Step Toward Releasing Fannie Mae and Freddie Mac
If privatization happens, the stock sale for these government-owned entities could be four times the largest IPO ever.

02/10/20

The Golden Age Of White Collar Crime Huffpost

The Golden Age Of White Collar Crime
A Slow-Motion Looting OVER THE LAST TWO YEARS, nearly every institution of American life has taken on the unmistakable stench of moral rot. Corporate behemoths like Boeing and Wells Fargo have traded blue-chip credibility for white-collar callousness.

02/10/20

Fox in the Henhouse: Koch-Backed Opponent of Consumer Financial Protection Bureau Chairs Taskforce to Evaluate Its Regulations Exposed By CMD

Fox in the Henhouse: Koch-Backed Opponent of Consumer Financial Protection Bureau Chairs Taskforce to Evaluate Its Regulations
When the the Consumer Financial Protection Bureau (CFPB) announced on the membership of its “Taskforce on Federal Consumer Financial Law,” on January 9, critics called foul and charged the group with a pro-industry, anti-consumer bias.

02/10/20

Front-loading is the next big step for digital mortgages Housing Wire

Front-loading is the next big step for digital mortgages
The digital mortgage has come a long way over the past few years, but one expert says the next big step will be front-loading the origination and funding processes using predictive algorithms.

02/08/20

Law Review: No foreclosure while reviewing loan modification application Sierra Sun

Law Review: No foreclosure while reviewing loan modification application
As you may recall, after the 2008 market crash and recession I wrote a handful of Law Review columns strongly criticizing institutional lenders for dealing unfairly with their borrowers. I met with innocent homeowners, many who were talked into filing applications for loan modifications, only afterwards to be foreclosed on by the lender. Most lost their homes. The foreclosing lenders did just fine.

02/07/20

Wait! Somebody must have paid something right? Living Lies

Wait! Somebody must have paid something right?
How do you know what was paid by whom and when and what terms applied? The whole point here is that money was paid by investors who did not receive ownership to the debt, note or mortgage. Nor did they assign any equitable right to the debt, note or mortgage.

02/06/20

White paper lays the groundwork for public banks in the Northeast and Midwest Public Banking Institute

White paper lays the groundwork for public banks in the Northeast and Midwest
The Northeast-Midwest Institute, a Washington D.C.-based nonprofit nonpartisan public policy organization formed in 1976, published an instructive 100-page report in September 2019 that details how the 18 states of the Northeast and Midwest “should create, structure, and regulate a state bank to best achieve its goals and address the problems facing the state.” The paper describes the major models of public banking around the world and in the United States and explains how the issues faced by states in the region can be solved through the creation of a state bank.

02/06/20

CFPB Director Provides Update on Protection Practices DS News

CFPB Director Provides Update on Protection Practices
In the Consumer Financial Protection Bureau’s (CFPB) semiannual report to Congress, CFPB Director Kathleen Kranginger outlined the Bureau’s focus and advancements. According to Kraninger, she is focusing on two areas: “encouraging saving and unleashing innovation wherever appropriate and possible,” with the focus on giving power to consumers when choosing financial products.

02/06/20

First Circuit Bankruptcy Panel Affirms “Gavel Rule” as Determinative of When a Bankruptcy Debtor’s Right of Redemption Terminates JD Supra

First Circuit Bankruptcy Panel Affirms “Gavel Rule” as Determinative of When a Bankruptcy Debtor’s Right of Redemption Terminates
The Bankruptcy Appellate Panel for the First Circuit has affirmed an earlier decision that concluded a borrower’s right to redeem terminates when the gavel falls at a foreclosure auction, and not when a deed is recorded.

02/06/20

Pleading Civil Conspiracy and RICO Living Lies

Pleading Civil Conspiracy and RICO
I am currently working on multiple cases in which lawsuits for civil conspiracy and RICO will shortly be filed. I thought I would share with the public some of my observations and research.

02/05/20

How Can I find the Real Lender? Securitization in a Nutshell Living Lies

How Can I find the Real Lender? Securitization in a Nutshell
The point of securitization — as practiced by Wall Street is that there is no risk in lending to consumer borrowers. Under existing law that means there is no lender and there usually isn’t — except where a conventional loan get paid off in a securitization scheme.

02/04/20

Fraud Is Not What You Think It Is Living Lies

Fraud Is Not What You Think It Is
There are actually two different definitions of fraud. The lay definition is anything that is a lie. The legal definition goes much further than that and if you can’t satisfy the legal elements of fraud you won’t survive a motion to dismiss or motion to strike. It’s complicated like everything else.

02/03/20

Ex-OneWest Chief Surprises Wells Fargo With OCC Enforcement Living Lies

Ex-OneWest Chief Surprises Wells Fargo With OCC Enforcement
On Thursday, the OCC banned former Wells Fargo CEO John Stumpf from the banking industry and fined him $17.5 million (13 million pounds) to settle charges he failed to put a stop to sales misconduct

02/03/20

American Bar Assn. President Criticizes U.S. Legal System As Backward, Resistant to Change Forbes

American Bar Assn. President Criticizes U.S. Legal System As Backward, Resistant to Change
Judy Perry Martinez, president of the American Bar Association (ABA), has issued an unusually frank plea calling upon the legal profession to support reform of America’s backward legal system to better serve the public.“We need new ideas,” said Martinez. “We are one-fifth into the 21st century, yet we continue to rely on 20th-century processes, procedures and regulations. We need to retain 20th-century values but advance them using 21st-century approaches that can increase access to justice.”

02/03/20

Fed Chair Powell Has Gone Rogue on Repo Loans and the Volcker Rule Wall Street On Parade

Fed Chair Powell Has Gone Rogue on Repo Loans and the Volcker Rule
According to the data made available on the public website of the New York Fed, since September 17, 2019 it has funneled a cumulative total of $6.6 trillion to some of the 24 trading houses on Wall Street that are known as its “primary dealers.”

January | February | March | April |May | June | July | August | September | October | November | December
 

copyright MSFraud.org