The foreclosure claims commission envisioned by Bair would follow the model used to settle claims arising out of the BP oil spill and the events of 9/11. It would be set up and funded by servicers to address claims submitted by homeowners who...
“The trustee has repeatedly requested that EMC provide access to the subject documents,” Wells Fargo said in the complaint. “EMC has played proverbial ‘rope a dope’ and otherwise continued to drag its feet, and has produced nothing.”
Goldman Sachs executives have long been among the most richly paid on Wall Street in the best of times. They are now poised to reap a windfall that was sown in the dark days of the financial crisis in 2008.
The securitization industry may be about to reap the whirlwind of its failure to take the need for reform seriously. As we’ve indicated, industry incumbents have adopted a denialist approach to widespread evidence of serious documentation problems...
"You cite no legal authority that supports your claim that you are entitled to view the original Note, and we are not aware of the existence of any such authority. Bank of America
Abandoned foreclosures are increasing as mortgage investors determine that, at sale, they can’t recoup the costs of foreclosing, securing, maintaining and marketing a home, and they sometimes aren’t completing foreclosure actions.
The parties assembling these loans into trusts knew damn well that State Law required recordation of interests and that they were marketing these loans as fully-secured by the underlying real estate. They decided, on their own initiative, to forego.
Not all groups supposedly fighting for our food freedom are who we think they are. If you really want an eye-opener, read the following article, and check out this link, which notes organizations on the Merck Pharmaceuticals dole...
The 58-year-old attorney admits to breaking into homes at least half a dozen times, including one before with the Earls, leaving the clients to squat in their homes while he defends their legal right to possession.
Oh I see. The people who caused the mess are front-and-center of this "think tank" and now wish to propose things that will allegedly "fix" the mess?
The key drivers of our housing crisis were fraud perpetrated by mortgage lenders and securities fraud -- by some of our most revered financial institutions -- that provided money to fuel fraudulent mortgage lending.
According to JP Morgan, who service the loan, the only way Sikora would be eligible for loan modification would be if he were in delinquency, which is what they advised him to do. That's right - a bank formally told...
With nobody having any clue who owns what and thus has no legal claim to seek damages or reposession, look for the total number of foreclosures to continue declining, as banks are now forced to represent...
This proposal guts state control of their own real estate law when the Supreme Court has repeatedly found that “dirt law” is not a Federal matter. It strips homeowners of their right to their day in court...
I shouldn't be surprised, but I am. The banks are doing exactly the same thing that blew them up in 2007 and 2008, and it will end the same way.
They are allowed to accrue interest on non-performing mortgages ” until the actual foreclosure takes place, which on average takes about 16 months.
The reality is that banks can no longer meaningfully be called private enterprises, yet no one in the media will challenge this fiction.
What could one man do to turn back the rising tide of greed? He called it the Knowledge Commons. Today we say, Open Source. Knowledge shared enriches all of us. When we can see other people, and all other forms of life, we empathize, sensing our
But Senior Judge Pat Priest disagreed with DeLay, saying those who write laws should be bound by them, and sentenced the man once considered one of the nation's most powerful and feared lawmakers to three years in prison.
If, in fact, there exists widespread legal failure of securitized mortgage pools, as Mr. Rosner, theorizes, then we are possibly facing the Apocalypse Scenario, calling into question the legal and financial...
"Investors in RMBS are facing hundreds of billions of dollars in losses on securities where the note was either not delivered or done so in a haphazard and negligent fashion. These claims could kill some of the top banks."
Like a great heard of sheep being driven by a pack of ravenous wolves, many people are panicing, confused, and distracted by a barrage of misinformation, smoke & mirrors in Uncle Sam's gaslight alleys.
The coalition members’ insistence on immediate action reflects the urgency of their concerns over mishandled mortgages.
Felix Salmon, who nobody would accuse of being pro-bank, sees a real possibility here of a systemic housing market and banking system catastrophe if this ruling is repeated in other states.
U.S.O.F.C.: the United States of Organized Financial Crime. The Status Quo is dependent on a Financial Mafia for its wealth, and it is loathe to surrender it.
A research and consulting company with a large presence in Bethesda has landed multimillion-dollar contracts to study the long-term health effects of military service on Vietnam veterans, market U.S. government substance abuse and mental health progr
This decision is from the State Supreme Court and thus is final within the State, and makes it likely that MBS holders will sue en-masse for the sale of fraudulently-constituted securities
The senators called for a “robust and comprehensive solution” that would protect homeowners and investors. They urged the council to respond “promptly” and indicate whether it needs additional...
In 2008, graduating seniors had an average debt burden of $23,200, a 24% increase from $18,650 in 2004. At public universities, it was $20,200. For private nonprofit ones, $27,650, and at private for-profit universities, $33,050.
What John is accused of happened in 2008! How long can this be drawn out, and what is all this COSTING THE ARIZONA TAXPAYER!?!