Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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04/08/21

Can the CFPB's new forbearance rules prevent a foreclosure crisis?
While forbearance numbers have declined somewhat in recent weeks, around three million homeowners are still behind on their mortgages. As foreclosure moratoriums are set to expire later this year, the housing market is now facing the risk of a shock from millions of homeowners going from forbearance straight into foreclosure. To prevent such a shock to the system, the CFPB has released a proposed set of rule changes for servicers and borrowers to prevent the end of forbearance turning into a catastrophe for the whole mortgage industry.

04/06/21

A Conspiracy of local County Auditors. . and some less than forthcoming Legislators
Apparently here in Washington State our elected leaders believe that they know what isbest for us. . . without even asking

04/06/21

WASHINGTON COURT OF APPEALS ONE - Larsons' opening brief in registration of title (Torrens Act) appeal
In the Court of Appeals for the State of Washington Division One - Washington Court of Appeals Division One - Christopher and Angela Larson v. New Century Mortgage

04/06/21

Court Clarifies Evidentiary Requirements for Foreclosure Filings
The Florida Fifth DCA reversed a summary judgment of foreclosure finding, Eagle Home Mortgage, LLC (“the bank”), failed to proffer sufficient evidence that it satisfied conditions precedent. Parkin v. Eagle Home Mortgage, LLC, 5D20-160, 2021 WL 833298 (Fla. 5th DCA Mar. 5, 2021).

04/06/21

Attack the “Successors”
In analyzing the paperwork in front of you, make sure you read every word and do not accept anything said at face value. A popular ruse by foreclosure mills is the use of the word “successor.” I have been saying that this word is used as a cover-up for “we don’t have title to the debt, note or mortgage.” That means they have no loss connected with a claimed scheduled payment that was not received by a “Servicer” who had no right to receive it in the first place.

04/05/21

Summary Judgment is the way that the foreclosure mills avoid answering reasonable discovery demands.
The simple answer is that they do it because they can and because they generally get away with it, because most of the time their opposition is a layperson who knows nothing about the rules of civil procedure. JUdgment gets entered and the homeowner loses their largest investment, their home, and usually their lifestyle. sometimes they lose their marriages too or their lives when they commit suicide.

04/05/21

Consumer protection group proposes rule to prevent foreclosures until 2022
The Consumer Financial Protection Bureau proposed a rule Monday to prevent a wave of foreclosures this fall, when certain Covid-era protections for homeowners are set to expire. The proposal, which would need final approval, generally prohibits mortgage servicers from initiating foreclosure

04/05/21

CFPB Proposes Mortgage Servicing Changes to Prevent Wave of COVID-19 Foreclosures
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire.

04/04/21

Consumer Finance Law – COVID-19 Year in Review
The year 2020 was a tumultuous one given the unexpected COVID-19 pandemic, particularly for the mortgage lending and servicing industry. In response to sudden stay-at-home orders and a sharp drop in employment rates, federal and state policymakers moved quickly to offer financial relief to consumers and borrowers. While facing their own pandemic-induced operational hardships, mortgage lenders and servicers swiftly adjusted their business plans to adopt mortgage forbearance requirements and react to foreclosure moratoriums provided under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Balancing new regulatory requirements and a significant uptick in consumer demands kept lenders and servicers on their toes.

04/03/21

Biden signed $10B in mortgage help for homeowners. How do you get money?
The latest COVID relief package signed into law by President Joe Biden sets aside billions for homeowners struggling to make their mortgage payments and other bills related to owning a home.

04/03/21

Episode 114 – When The Whistle Blows with Richard Bowen
Steve Grumbine welcomes the uncompromising and incorruptible Richard Bowen to the studio to discuss the intricate web of deception and fraud more commonly known as our private banking system.

04/02/21

In the Court of Appeals for the State of Washington Division One
In the Court of Appeals for the State of Washington Division One - Washington Court of Appeals Division One - PNC BANK, NATIONAL ASSOCIATION, its successors in interest and/or assigns v. LAURA COZZA - APPELLANT'S COZZA'S MOTION FOR RECONSIDERATION

04/02/21

Mortgage companies warned to take steps now to avoid foreclosure ‘tidal wave’
The Consumer Financial Protection Bureau (CFPB) wants to avoid a wave of home foreclosures later this year and is warning mortgage servicers to take steps to help these homeowners.

04/02/21

How to use “Unpublished” Opinions
One of the peculiar aspects of foreclosure litigation over the past two decades has been the overuse (by appellate courts) of instructions not to publish opinions that favor homeowners in litigation. So the homeowner wins in that case but other homeowners and their attorneys probably never hear about it.

04/01/21

Still think it was a loan, think again! Look at these allegations from investors who thought they were buying loans.
If Countrwide was really a lender it would never have entered into this transction as a loan. If Countrywide was an underwriter it would never have approved this as a loan. Common sense dictates that Countrywide was an aggregatgor of data that was massaged to meet the instructions and needs of an investment bank.

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