Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

 Date

Article

Articles are added weekly 

Source

  Comment

10/25/24

With AI-Powered Chatbots Coming to Customer Service, Are Mortgage Customers Ready?
Artificial intelligence (AI) is here to stay. Three-fourths of business leaders say they are planning to escalate their AI investments, as they see its potential to redefine customer service and many other business functions. That includes the lending industry, in which AI-powered customer service has already started to establish a foothold and is poised to grow. Are customers ready for the future of AI-driven customer service? This Lending Intelligence Report dives further into one aspect of the J.D. Power 2024 U.S. Mortgage Servicer Satisfaction Study. It highlights the prevailing sentiment and emerging trends in AI-powered customer service, and how that may change with the continued uptick in servicer adoption.

10/25/24

Important Freddie Mac Multifamily updates: new public records search requirements for mortgage origination and servicing
As of Aug. 15, 2024, Freddie Mac Multifamily made several significant changes to its mortgage origination and mortgage servicing requirements. The updates enhance transparency and mitigate risk by ensuring loan origination companies do their due diligence. The new guidelines apply to mortgages associated with Seller Applications and Transfer of Ownership requests.

10/22/24

Sagent’s Dara: Advancing mortgage loss mitigation
Traditionally, applying for mortgage assistance has been cumbersome, involving extensive paperwork, excruciatingly long cycles of communication (and miscommunication), and significant waiting periods. Sagent has trimmed the fat off of this process with Dara and its user-friendly approach. Dara is a mobile-first platform that allows homeowners to access and submit assistance applications remotely. The platform’s intelligent design is showcased by its ability to pre-populate borrower data, substantially reducing application completion time.

10/22/24

Academic Paper Finds U.S. Banking System Is Less Safe Today than Before the 2010 Dodd-Frank Financial Reform Legislation Was Passed
The risk of Big Tech firms like Alphabet (Google), Amazon, Apple, Meta (Facebook), and Microsoft getting an entrée into the federally-insured banking system by being allowed to buy or create a federally-insured industrial bank has raised alarm bells among three nonprofit watchdogs and the law professor who, literally, wrote the book on the mushrooming systemic risks in the U.S. banking system. Arthur E. Wilmarth, Jr., Professor Emeritus of Law at George Washington University Law School, joined with the Consumer Federation of America, Americans for Financial Reform Education Fund, and the Center for Responsible Lending, to file an 18-page letter last Friday with the Federal Deposit Insurance Corporation (FDIC). (For background on Wilmarth’s seminal book, see our report: Everything this Book Predicted on Wall Street Megabanks Ruling their Regulators Is Now Unfolding.)

10/17/24

Could Big Tech Own Federally-Insured Banks? Here Are the Dangers
The risk of Big Tech firms like Alphabet (Google), Amazon, Apple, Meta (Facebook), and Microsoft getting an entrée into the federally-insured banking system by being allowed to buy or create a federally-insured industrial bank has raised alarm bells among three nonprofit watchdogs and the law professor who, literally, wrote the book on the mushrooming systemic risks in the U.S. banking system. Arthur E. Wilmarth, Jr., Professor Emeritus of Law at George Washington University Law School, joined with the Consumer Federation of America, Americans for Financial Reform Education Fund, and the Center for Responsible Lending, to file an 18-page letter last Friday with the Federal Deposit Insurance Corporation (FDIC). (For background on Wilmarth’s seminal book, see our report: Everything this Book Predicted on Wall Street Megabanks Ruling their Regulators Is Now Unfolding.)

10/11/24

Top 10 U.S. States with Greatest Number of Foreclosure Starts in September 2024
According to ATTOM’s just released September and Q3 2024 U.S. Foreclosure Market Report, there were a total of 87,108 U.S. properties with foreclosure filings in Q3 2024. This figure reflects a 2 percent decrease compared to the previous quarter and a 13 percent decrease compared to the same period last year.

10/11/24

Kamala Harris Took on Big Banks After the Foreclosure Crisis. It Helped Define Her Career
It was the fall of 2011, and the American housing market was in freefall — California was ground zero. Hundreds of thousands of Californians had already lost their homes to foreclosure, and millions more were underwater on their mortgages, owing more than their homes were worth. Many were facing exploding mortgage payments as adjustable-rate loans skyrocketed. At the Mission Economic Development Agency (MEDA) in San Francisco, frantic homeowners streamed in daily, asking for help. It was a scene repeating itself at similar nonprofits across California, which was among the hardest-hit states, suffering around one-third of overall foreclosures nationally.

10/07/24

Loan Servicing Market Overview 2024: Key Trends, Segmentation, and Competitive Landscape
"Gain a competitive edge with up to 30% off in-depth market reports-uncover key trends, growth drivers, and forecasts today! The new report published by The Business Research Company, titled Loan Servicing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

10/07/24

A Bank Regulator Provides a Frightening Look at the Trading Casino Jamie Dimon Has Built Inside His Federally-Insured Bank
On September 24, the Office of the Comptroller of the Currency (OCC) released its Quarterly Report on Bank Trading and Derivatives Activities for the second quarter of this year. The OCC is the federal regulator of banks that operate across state lines, which are known as “national banks.” The shorthand for this report should be the “Casino Report.”

10/06/24

More Americans At Risk of Losing Their Homes This Year Than Last
Friends, its all about vastly increasing the #s of those who are active and public engagement at this point!
Please re-engage and come to MAAPL’s annual meeting THIS Tuesday, 10-8-24 from 12pm-2pm. (See zoom info at the end - in person location yet to be identified)
Background:
Homeowners have at least 20 years to get justice: complete restitution and up to triple damages! And we bring home 21-72 billion in lost wealth for Massachusetts residents - for the first time in US History: land to the disproportionally targetted people of color in their lifetime. (and women heads of households and working communities in general)
Friends, this movement is in massive takeoff mode. And our numbers and coming together for joint efforts could change the course not only of the injustice that all of our homeowners have faced, but the course of real property law and therefore the largest human and monetary area of investment in our nation.
16 years of efforts means we are breaking through in many places BUT only numbers of people and public pressure will then turn those into widespread and permanent change.
In the last little over a year, the Massachusetts Attorney General committed to having her chief of staff and the resources of her office coordinated with the Mass Alliance against predatory lending. And yet, after an initial very successful meeting, there has been no further progress on that.
We broke through with 29 Appeals court, pro se appeals court cases in the last two years. And yet the vast majority of decisions in those cases have been not just dismissive, but actually directly contradictory to the most visible decisions and procedural commitments of our courts. The absolutely milestone decision in HSBC Bank as Trustee v Morris (2022) marked an extraordinary breakthrough with our top court telling all of our lower courts that they must look back all the way to origination. And then the people who brought motions under that decision were denied its application, even when their record was exactly the same as the Morris's record. And just recently, the Morris's themselves were denied the SJC’S direct vacating of their judgment itself, apparently (not trusting the housing courts to take a remand order and vacate it themselves).
But with the bravery of those whose lievs have even been threatened in these foreclosures ,one of them was able to get their eviction case taken all the way up by the SJC and that opened the first big new door; thanks to many 100s of hours of research by a few different people over the years, that case allowed us to hold a press conference and bring evidence to the Massachusetts Supreme Judicial Court of the Fannie Mae systematic, intentional and contracted scheme of denying mortgage consumers their most fundamental right to be free of deceptive and unfair practices. The major deceit here is that the mortgages are owned by Fannie Mae, not the various servicers who, like their law firms are contractually bound to lie to the world about Fannie Mae's investment in the loans (mortgage and note together). The evidence we brought shows the historically largest fraud on the Massachusetts courts and probably in the history of the courts of the US nationwide.
While roadblocks of prejudice, malfeasance and/or ignorance have been thrown in our way through probably more than half of our attempts to get the numerous government enforcement bodies to pay attention and actually do something. We have at this point literally thousands of pieces of evidence which if correctly compiled and distributed take us to the next phase.
There are now media people ready to learn about and cover this and numerous legal (both civil and criminal) and policy avenues to fundamentally change these massive illegal schemes and bring full restitution and triple damages even to everyone in Massachusetts whose rights have been violated in the last 20 years.
And the time has come for everyone to come back together and at minimum put their name on the massive proactive lawsuit and break out of the shame and tell their truth.
We are prepared to compile that massive case and numerous smaller, proactive suits that we can file in numerous different venues, making it possible to find the few judges who give a damn and are interested in enforcing our laws against the richest and clearly overwhelmingly criminal industry in the world.
please join - together, lets be the change we seek in the world!
ZOOM INFO: MAAPLis inviting you to a scheduled Zoom meeting.
Topic: MAAPL noon Annual Mtg Zoom
Time: Oct 8, 2024 11:45 AM Eastern Time (US and Canada)
Join Zoom Meeting
https://us02web.zoom.us/j/86276065325?pwd=batl22iILbCmpB9Sji3QHizbkjRszK.1
Meeting ID: 862 7606 5325
Passcode: 550124

copyright MSFraud.org