Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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05/10/25

When it comes to foreclosures ...
(Op-Ed) — This is bigger than the BIG CON! And while I can’t give legal advice, I sure can point the finger (my middle one) in the right direction and at the right party, especially when experience factors into the equation. Every mortgage loan servicer has a document manufacturing unit … OR … in the alternative … a third-party document manufacturing mill that churns out crap at an alarming rate and causes it to be “electronically recorded” (18 U.S.C. § 1343) in land records that allow for such; or the mill mails the document for recording using the United States Mails (18 U.S.C. § 1341) … and what the the U.S. Department of Justice do about it? NOT ONE F**KING THING! So it’s up to us as consumers to “grow a pair” and launch a “full spread” against them!
Again, I refer you to the section in Paragraph 19 or 20 of your Mortgage or Deed of Trust unilateral adhesion contract that spells out the Note you signed will be sold, sometimes multiple times over, sometimes the Note will be split up and put into tranches (slices) on Wall Street in some securitized trust. This happens BEFORE you even get to the closing table! (I know, what was I thinking, right?) Simply put, when you signed the Note at the closing table, you created a debt instrument for yourself, but you created an equity instrument for the “lender”. BUT! The security was already being traded on Wall Street!
So you’re the maker of the Note. What did you get in return? Did you actually SEE the funds transferred into the seller’s account? No. You only got a paper statement called a HUD-1. That’s a government-issued and mandated mortgage statement, which means the U.S. government is in on the scheme. I call it a scheme because there are things that are not disclosed to you at the very beginning of the loan transaction (see the article “Attention Loan Applicants!”) So where does the servicer fit into the equation?

05/05/25

Congressman Casten: Trump’s Assault on the Rule of Law Is Causing Capital Flight Out of U.S. by Foreign Investors
Donald Trump’s assault on the rule of law is now the ubiquitous and defining feature of his administration. That assault also represents the gravest threat to the national security of the United States, its economic standing, and the stability of the U.S. financial system. Take, for example, what has happened recently.

05/02/25

"Pick-a-pay" mortgage left Massachusetts couple on brink of foreclosure. I-Team's Call For Action saved them.
An elderly couple in Lynn, Massachusetts was just days away from being evicted from their home after their bank foreclosed on it. They turned to the WBZ-TV I-Team's Call For Action for help. After nearly 10 years of fighting to save their home, the Cavalieres were ready to give up and began packing up. "It's been a whole life in the last 23 years, 24 years," Kathy Cavaliere told the I-Team. "This has been the center of our family. All holidays, all get togethers. And it was going to be gone within days." The bank foreclosed on the couple's property and they were being evicted. Kathy's husband Joe Cavaliere is 85. He said they ran into financial trouble after he got sick several years ago. "I was out of work for a little while and then I got laid off and we fell behind on the mortgage payments. So, we sent them $5,000 to catch up and they said they wanted the whole thing, which was somewhere around $400,000."

05/01/25

Trump's VA strands thousands of veterans by ending a key mortgage program
The U.S. Department of Veterans Affairs, as of Thursday, has ended a new mortgage-rescue program that so far has helped about 20,000 veterans avoid foreclosure and keep their homes.
The move leaves millions of military veterans with far worse options than most other American homeowners if they run into trouble paying their home loans. And it comes at a time when nearly 90,000 VA loans are seriously past due, with 33,000 of those already in the foreclosure process, according to the data and analytics firm ICE.
At issue is the VA Servicing Purchase program, or VASP. It was put in place during the Biden administration after missteps by the VA left homeowners with no affordable way to catch up on their VA-backed home loans if they fell behind. VASP rolls the homeowners' missed payments into a new, low-interest rate loan that the VA then owns outright. With today's higher mortgage rates of around 7%, it is often the only affordable option for homeowners with VA loans.

05/01/25

UWM moves servicing in-house, splits from Mr. Cooper after Rocket acquisition
United Wholesale Mortgage (UWM), the country’s largest wholesale mortgage lender, is bringing its servicing operations in-house, triggered in part by Rocket’s acquisition of one of its subservicers, Mr. Cooper. Under a new long-term agreement, UWM will adopt the MSP loan servicing system provided by ICE Mortgage Technology to directly manage its $242.4 billion portfolio of residential loans. Until now, the Michigan-based mortgage giant has outsourced monthly servicing work to Cenlar FSB and Mr. Cooper. With Mr. Cooper’s sale to Rocket, its biggest rival, UWM has decided to handle its servicing in-house to regain control over its borrower relationships.

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