EDITOR’S NOTE: It’s always slower than we want. But the Bench is starting to groan at the absurd “settlements” being reached that are actually a vehicle for immunizing the major players from liabilities that vastly exceed the settlements. In most cases, class actions, government actions and other major agency complaints at state and federal levels [...]
EDITOR’S NOTE: The shell game continues. While the media picks up stories about “settlements” giving rise to the presumption that Countrywide Home Loans and Bank of America and the rest of the securitization players committed various violations of statutes, duties, rules and regulations, the main point gets lost. Where is this money going and WHY? [...]
False and Misleading Offering Documents Detailed in Class Action Lawsuit Against Countrywide Financial Cohen Milstein Files Amended Consolidated Complaint in Case Involving $350 Billion of Mortgage-Backed Securities WASHINGTON, July 15 /PRNewswire/ — Cohen Milstein Sellers & Toll PLLC filed an Amended Consolidated Class Action Complaint this week in its landmark litigation against Countrywide Financial Corporation [...]
Oregon Joins Lawsuit Against Countrywide Chris Lehman | July 14, 2010 | Salem, OR Share Discuss download // // Oregon is joining a class action lawsuit against mortgage lender, Countrywide. The suit alleges Countrywide duped investors into buying securities backed by on home loans that were riskier than Countrywide represented. The investors included the Oregon Public [...]
It is gratifying to see state officials taking a proactive stance. As comptroller, Mr. Liu should consider the details, however. The fact remains that modifications are largely a sham. The only lender of record is the usually the originating lender. The parties charged with modification have little or nothing to say or do about modifications. [...]
The bank transferred mortgage-backed securities to a trading partner with the idea of receiving different securities later and classifying the deals as sales, the Wall Street Journal reported yesterday. The securities the bank received were similar to those it got rid of, meaning the transactions can’t be considered sales, the newspaper said. Bank of America [...]
RESPA is a federal statute so I would think that this sort of thing could be happening all over the place… like in all 50 states. And it’s also worth mentioning that what Bank of America is accused of here, is every bit as true for Chase, Wells, One West, US Bank, Aurora, Saxon… are you feeling me here? Come on, multiply the number of banks and servicers times fifty states, and before you know it we could be having a national block party… I’ll bring the beer.
Everything’s going just fine. There are no real problems with HAMP or with the servicers who are implementing HAMP. Oh sure, there have been a few challenges, but most of them have been caused by the borrowers who just can’t seem to do a Gad damn thing right.
by Morgan Skinner, KCSG News Notice of Appeal Filed – Stay of Court Order to Vacate Injunction Stopping Bank of America Foreclosures in Utah Requested by Morgan Skinner, KCSG News1 day 14 hrs ago | 511 views | 0 | 8 | | 10th Circuit Court, Denver (USC/photo)slideshow (St. George, UT) – A Notice of [...]
Freddie Mac / Bank of America / Taylor Bean Whitaker – IMPORTANT INFO & STATEMENT REGARDING ASSIGNMENTS… TRANSFERS… NOTE OWNERSHIP!!! Today, June 21, 2010, 31 minutes ago | Foreclosure Fraud “Indeed, it appears as though many loans and other mortgage-related assets have been double and even triple-pledged to various constituencies“ 6 21 10-Freddie-Objection-to-Boa-in-Re-Taylor-Bean-amp-Whitaker-Mortgage-Corp1 6 21 [...]
This is not a tragedy that discriminates. The race diminished as a result of what is being allowed to transpire will be “human”.
Yes, you read that right. NCLC, et al, are suing the banks over the travesty that is HAMP. We’ve all been waiting for this day for a long time now, and it finally arrived. So, don’t rush through this article, revel in it.
A homeowner wrote to me the other day, and I could tell from her emails that she had been through the ringer trying to get a loan modification. I’ve heard from so many thousands of homeowners that I’ve gotten to the point that I could probably guess their lender or servicer just from the tone of their email or voice. This one, however, kept notes of her journey into The Loan Modification Zone, and I couldn’t help but share them… you’ll see why.
GET LOAN SPECIFIC RECORDS PROPERTY SEARCH AND SECURITIZATION SUMMARY FTC v Countrywide Home Loans Incand BAC Home Loans ServicingConsent Judgment Order 20100607 Editor’s Comment: This “tip of the iceberg” is important for a number of reasons. You should be alerted to the fact that this was an industry-wide practice. The fees tacked on illegally during [...]
Well, today Bank of America employees in Kansas City, Loa Angeles, Charlotte and other cities around the country have filed a lawsuit alleging that our nation’s largest bank cheated its employees out of $100 million in overtime pay. The bank never wanted anyone looking too closely at how much they pay their top executives, but now they also don’t want us looking at what they pay their hourly workers either.
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