Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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05/29/25

One Long Island family’s hellish journey to foreclosure
“My parents are seniors and now you’re putting them out of their home,” said Nina Greene, 44, a retired New York City Police Department (NYPD) police officer who is physically disabled from a line of duty injury. She worked with the city’s evidence collection team, a skillset that has proved useful in her battle to try and keep her family home.
Despite her efforts, the Greene family has lost their years-long struggle to keep their house from foreclosure. Greene claimed that her parents were swept into a scam when they were unable to keep up with mortgage payments or get approved for a loan modification, and were summarily denied help from a long list of servicers that shuffled around the note to their mortgage. The housing courts disagreed and ruled in favor of the banks.

05/27/25

ICE: Mortgage Delinquencies Up Slightly in April
The U.S. mortgage delinquency rate increased slightly to 3.22% in April, according to ICE Mortgage Technology’s latest First Look report. That’s an increase of one basis point compared with March but up 4.1% compared with April 2024. As of the end of the month, there were about 1.752 million residential properties in some stage of delinquency (30 days more more past due but not in foreclosure) nationwide, an increase of about 8,000 compared with the previous month and an increase of about 94,000 compared with a year earlier.

05/20/25

ABSTRACT: How Your Mortgage Became a Wall Street Security Without Your Knowledge

Topics Covered in This Article

• Part 1: Introduction and The Foundation of the Scheme
• Part 2: Turning Notes Into Securities & Violating REMIC Rules
• Part 3: MERS – From Registry to Syndicate Clearinghouse
• Part 4: State Law Case Studies – Yvanova, Bain, and Beyond
• Part 5: Bifurcation, Trustees, and Phantom Creditors
• Part 6: Standing Under UCC Articles 3 and 8
• Part 7: TILA Rescission and the Question of Consummation
• Part 8: FDCPA, § 1641(g), and Federal Disclosure Failures
• Part 9: Judicial Presumptions and the “Yes, But” Problem
• Part 10: The Endorsed-in-Blank Myth and the Illusion of Standing
• Part 11: ASC 860 - The Accounting Trail Is the Truth
• Part 11.5: From Enron to MERS – The Evolution of Off-Balance-Sheet Fraud
• Part 12: Administrative Demands and Shifting the Burden of Proof
• Part 13: The 'Too Big to Fail' Myth and Judicial Complicity
• Part 14: Post-Settlement Enforcement and the Hypocrisy of Litigation Admissions
• Part 15: Final Thoughts on Title Destruction and Systemic Failure

05/17/25

When Size Matters and Meets Foreclosure Defense – 17 Years Later
For 17 years American Homeowners have fought the banksters and their fraudulent UNREGULATED DERIVATIVES securitization scam – some successfully, some not. BOTTOM-LINE – We’re tired of the fabricated documents, cleverly worded, but still false declarations, failure to prove standing – and especially using significantly reduced photocopies of an alleged Promissory Note, undated allonges and/or unsigned endorsements left “in blank” to further their fraud. Along with fraudulent Assignments of Mortgage, created or ordered by questionable law firms for the banks and many times back-dated, if dated at all. And let’s not forget the lower court foreclosure judges that let the Plaintiff Bank get away with it!

05/16/25

Foreclosure Spike Puts 60,000 Veterans In Danger Of Losing Their Homes
The end of the Veterans Affairs Servicing Program — a federally funded initiative designed to keep vets in their homes — has put tens of thousands service members at risk of losing their homes, Marketwatch reports.
For almost a year, veterans could temporarily modify their loans to a 2.5% interest rate through the Veterans Affairs Servicing Program, which gave vets in delinquency some financial breathing room. That program ended on May 1, leaving almost 60,000 vets in danger of losing their homes.

05/15/25

CFPB Rescinding the 2021 COVID-19 Mortgage Servicing Final Rule
On May 15, 2025, the Consumer Financial Protection Bureau (CFPB) filed an interim final rule in the Federal Register that will rescind its prior 2021 COVID-19 mortgage servicing final rule. The interim final rule is set for publication in the Federal Register on May 16, 2025, and would become effective 60 days after publication. Comments will be accepted for 30 days after publication.

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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