Mar
23
Businessweek | Whistle-Blower Lynn Szymoniak Beats the Banks
Photograph by Colby Katz for Bloomberg Businessweek Whistle-Blower Lynn Szymoniak Beats the Banks Attorney Lynn Szymoniak had spent her career investigating insurance fraud when Deutsche Bank (DB) moved to foreclose on her Florida home in 2008. Almost four years later, she’s still fighting the foreclosure. Yet the fraud by numerous banks she uncovered after combing … Read more
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Mar
22
Federal Reserve Bank of Dallas Annual Report | Choosing the Road to Prosperity – Why We Must End Too Big to Fail
Choosing the Road to Prosperity – Why We Must End Too Big to Fail—Now The too-big-to-fail institutions that amplified and prolonged the recent financial crisis remain a hindrance to full economic recovery and to the very ideal of American capitalism. It is imperative that we break up the big banks. Here’s the full letter from … Read more
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- Shadow Banking – Federal Reserve Bank of New York Staff Report no. 458 July 2010
- Winner Takes All | Federal Reserve Bank Researchers Proposed Bailing out 99%, Action not taken
- GAO Finds Serious Conflicts at the Fed | The Sanders Report on the GAO Audit on Major Conflicts of Interest at the Federal Reserve
Mar
22
COMPLAINT | PLYMOUTH COUNTY, IOWA v MORTGAGE ELECTRONIC REGISTRATION SYSTEMS – Plymouth County Sues MERS Over Mortgage Recording Practices
Plymouth County sues over mortgage recording practices LE MARS, Iowa — Plymouth County has filed a class-action lawsuit against a national electronic mortgage registry company it says has enabled banks to avoid paying Iowa mortgage recording fees. Plymouth County Attorney Darin Raymond filed the suit on behalf of all 99 Iowa counties against MERSCORP Holdings … Read more
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- Massachusetts | Bristol County Commissioners Vote to Participate in Suit Against Mortgage Electronic Registration Systems (MERS)
- COMPLAINT | JIM FULLER, CLERK OF THE COURT, DUVAL COUNTY, FLORIDA vs MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, MERS
- Harris County to Sue Mortgage Electronic Registration Systems (MERS) for Over $11 million in Mortgage Fees
Mar
19
New Jersey | Housing, Banking Advocates Hail Bill to Speed Foreclosures of Abandoned Homes
Housing, banking advocates hail measure to speed foreclosures of abandoned homes A piece of state legislation that looks to turn foreclosed homes into affordable housing also contains a little-noted provision that banking and housing experts say would provide an important step to unclogging the bottleneck holding back the state’s housing recovery. A bill introduced last … Read more
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Mar
19
Matt Taibbi | Another Hidden Bailout: Helping Wall Street Collect Your Rent
Matt Taibbi | Another Hidden Bailout: Helping Wall Street Collect Your Rent Here’s yet another form of hidden bailout the federal government doles out to our big banks, without the public having much of a clue. This is from the WSJ this morning: Some of the biggest names on Wall Street are lining up to … Read more
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Mar
19
Matt Taibbi | Another Hidden Bailout: Helping Wall Street Collect Your Rent
Matt Taibbi | Another Hidden Bailout: Helping Wall Street Collect Your Rent Here’s yet another form of hidden bailout the federal government doles out to our big banks, without the public having much of a clue. This is from the WSJ this morning: Some of the biggest names on Wall Street are lining up to … Read more
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Mar
16
Attorney General Kamala Harris Appoints Law Professor & Foreclosure Fraud Expert Katherine Porter to Monitor $18B Settlement with Banks
And here in Floriduh, Bondi appoints a low level “foreclosure specialist” from Lender Processing Services /sarcasm… ~ Attorney General Kamala D. Harris Appoints Independent Monitor to Protect Interests of Homeowners in $18 Billion California Commitment SACRAMENTO — Attorney General Kamala D. Harris today announced the appointment of Professor Katherine Porter of the University of California, … Read more
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Mar
15
Matt Stoller & Neil Barofsky | Don’t Believe Hype About $25B Mortgage Settlement (VIDEO)
March 15 (Bloomberg Law) — The $25 billion mortgage settlement between lenders and state attorneys general won’t help nearly as many people as its touted to, Neil Barofsky, the former ...
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Mar
15
Occupy Homes MN Marches on the Home of US Bank CEO Richard Davis (VIDEO)
On Wednesday, March 14, at 5:00pm Occupy Homes MN held a march to US Bank CEO Richard Davis’ Minneapolis home as part of the Occupy Homes national week of action on the banks. “We want to respectfully ask Mr. Davis and US Bank to work with customers like me to keep us in our homes. … Read more
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Mar
14
David Dayen | Foreclosure Fraud Settlement Docs (IV): Association of Mortgage Investors Planning to Challenge in Court
Foreclosure Fraud Settlement Docs (IV): Association of Mortgage Investors Planning to Challenge in Court One of the things I looked at in an earlier installment of the foreclosure fraud settlement documents is how banks can satisfy their obligations by modifying mortgages they don’t own. HUD again tried to push back on this with a blog … Read more
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Mar
14
Honor System for Foreclosure Paperwork Has Led to Illegal Colorado Seizures
Honor System for Foreclosure Paperwork Has Led to Illegal Colorado Seizures, Lawyer Surmises Thousands of Colorado homes were taken in foreclosure in recent years by banks that probably never had the right to do so because no one bothered to challenge the process, said a lawyer who worked for the state’s biggest foreclosure law firm. … Read more
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Mar
14
NY Times | Federal Report Cites Bank Officials in Foreclosure Surge
Federal Report Cites Bank Officials in Foreclosure Surge Managers at major banks ignored widespread errors in the foreclosure process, in some cases instructing employees to adopt make-believe titles and speed documents through the system despite internal objections, according to a wide-ranging review by federal investigators. The banks have largely focused the blame for mistakes on … Read more
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Mar
13
Bill Moyers | David Stockman on Crony Capitalism (VIDEO)
Stockman shares details on how the courtship of politics and high finance have turned our economy into a private club that rewards the super-rich and corporations, leaving average Americans wondering how it could happen and who’s really in charge. ~ 4closureFraud.org TweetRelated posts: Bill Moyers | How Power and Influence Helped Big Banks Rewrite the … Read more
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Mar
13
Palm Beach Post | Palm Beach Gardens homeowner gets $18 million in foreclosure settlement
Palm Beach Gardens homeowner gets $18 million in foreclosure settlement Palm Beach Gardens homeowner and foreclosure fighter Lynn Szymoniak is slated to get $18 million from the nationwide settlement with the country’s five largest banks that was filed in federal court Monday. Szymoniak, who was featured on the CBS news show 60 Minutes last year … Read more
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Mar
12
$95 MILLION SETTLEMENT WITH THE NATION’S FIVE LARGEST MORTGAGE SERVICERS PARTIALLY RESOLVES SOUTH CAROLINA FALSE CLAIMS ACT LAWSUIT
According to the settlement documents, the banks are also paying tens of millions of dollars to resolve whistleblower lawsuits alleging lenders defrauded the government in seeking federal mortgage insurance for some risky loans. The banks are paying $95 million, for example, to settle a case brought by Lynn Szymoniak, a homeowner who was featured on … Read more
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- OCC Settles Civil Money Penalties Against Large National Bank Mortgage Servicers for $394 Million; Penalty Assessment Coordinated with Servicers’ Actions and Payments Under Federal-State Settlement
- Supreme Court of South Carolina ADMINISTRATIVE ORDER Re: Mortgage Foreclosure Actions
- Federal Government and State Attorneys General Reach $25 Billion Agreement with Five Largest Mortgage Servicers to Address Mortgage Loan Servicing and Foreclosure Abuses
Mar
12
$95 MILLION SETTLEMENT WITH THE NATION’S FIVE LARGEST MORTGAGE SERVICERS PARTIALLY RESOLVES SOUTH CAROLINA FALSE CLAIMS ACT LAWSUIT
According to the settlement documents, the banks are also paying tens of millions of dollars to resolve whistleblower lawsuits alleging lenders defrauded the government in seeking federal mortgage insurance for some risky loans. The banks are paying $95 million, for example, to settle a case brought by Lynn Szymoniak, a homeowner who was featured on … Read more
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- OCC Settles Civil Money Penalties Against Large National Bank Mortgage Servicers for $394 Million; Penalty Assessment Coordinated with Servicers’ Actions and Payments Under Federal-State Settlement
- Supreme Court of South Carolina ADMINISTRATIVE ORDER Re: Mortgage Foreclosure Actions
- Federal Government and State Attorneys General Reach $25 Billion Agreement with Five Largest Mortgage Servicers to Address Mortgage Loan Servicing and Foreclosure Abuses
Mar
12
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Recording Fee Suit
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Mortgage Suit Mortgage Electronic Registration Systems Inc. and Bank of America Corp. asked a court to dismiss a lawsuit brought by Texas counties accusing MERS of filing false claims in property records. The counties allege Merscorp Inc.’s MERS was established by lenders including Bank of … Read more
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Mar
12
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Recording Fee Suit
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Mortgage Suit Mortgage Electronic Registration Systems Inc. and Bank of America Corp. asked a court to dismiss a lawsuit brought by Texas counties accusing MERS of filing false claims in property records. The counties allege Merscorp Inc.’s MERS was established by lenders including Bank of … Read more
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Mar
12
F* The Banks | March 15th 2012 – Occupiers Set Up Living Room in Bank of America Lobby (VIDEO)
A crew of occupiers makes a home of a Bank of America lobby with a couch, a coffee table, a rug and a potted plant. “Bank of America took our homes so we though we’d move in here!” Join them March 15 as America turns the tables on the nation’s largest bank! For more info: … Read more
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Mar
12
Whistleblower Lawsuits Against Banks Extinguished in Foreclosure Fraud Settlement
Whistleblower Lawsuits Against Banks Extinguished in Foreclosure Fraud Settlement I think my disgust over federal housing policy is just about complete. As you know, we’re still waiting for the actual terms of the foreclosure fraud settlement, more than one month after the announcement. But more information has dribbled out, not much of it to the … Read more
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Mar
11
Let’s Make A Deal | Fraudclosure Settlement to be Filed in Federal Court on Monday? as Government Seeks Court Approval of $25 Billion Pact
Government to seek court approval of $25 billion mortgage pact (Reuters) – A previously announced $25 billion settlement between five major banks accused of abusive mortgage practices and government officials will be filed in federal court on Monday, people familiar with the matter said late Friday. The pact unveiled February 9 is expected to result … Read more
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- Federal Housing Finance Agency Action Regarding Court Consideration of Proposed Bank of America $8.5 Billion Settlement
- BofA’s $8.5 Billion Settlement Could Fall Apart After Request Made To Move Mortgage Case From State To Federal Court
- Brad Miller Letter to Federal Housing Finance Agency Acting Director Ed DeMarco RE BofA $8.5 Billion Settlement
Mar
09
Matt Weidner | Why Are The Banks Foreclosing On Homes Then Holding Them? What Is Going On Here? (VIDEO)
WHY ARE BANKS GETTING FORECLOSURE JUDGMENTS THEN NOT SELLING THE HOMES? The two excel spreadsheets come from my county’s foreclosure sales website. The first shows the results of all auctions 1/1/12 through 2/29/12; the second shows all upcoming auctions 3/18/12-4/30/12…both data sets show the banks taking the vast majority of the properties back, the banks … Read more
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Mar
08
WSJ | ‘Forced’ Home Insurance Policies Face New Scrutiny
‘Forced’ Home Insurance Policies Face New Scrutiny Home buyers take out homeowners’ insurance policies to protect the value of their home and personal property in the event of a burglary or a natural disaster. The insurance is typically required to get a home loan, and if borrowers fall into default, banks have the right to … Read more
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- Forced Placed Insurance | Big Banks Face Inquiry Over Home Insurance
- NY Times | Forced Placed Insurance ONE of the Richest and Most Secretive Sources of Profit
- Forced Placed Insurance | Elderly Couple Facing Foreclosure Claims JPMorgan Took Payments for Principal and Interest and Applied it Toward Insurance
Mar
08
WSJ | ‘Forced’ Home Insurance Policies Face New Scrutiny
‘Forced’ Home Insurance Policies Face New Scrutiny Home buyers take out homeowners’ insurance policies to protect the value of their home and personal property in the event of a burglary or a natural disaster. The insurance is typically required to get a home loan, and if borrowers fall into default, banks have the right to … Read more
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- Forced Placed Insurance | Big Banks Face Inquiry Over Home Insurance
- NY Times | Forced Placed Insurance ONE of the Richest and Most Secretive Sources of Profit
- Forced Placed Insurance | Elderly Couple Facing Foreclosure Claims JPMorgan Took Payments for Principal and Interest and Applied it Toward Insurance
Mar
08
Fed Economists: Yes, TARP may have increased moral hazard, by the banks
Fed economists: Yes, TARP may have increased moral hazard Two Federal Reserve researchers have confirmed what many have long suspected: big banks that were bailed out by the government took on greater risk without increasing lending to businesses. In other words, after they were stabilized by an injection of government funds, the specific loans made … Read more
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Mar
08
Fed Economists: Yes, TARP may have increased moral hazard, by the banks
Fed economists: Yes, TARP may have increased moral hazard Two Federal Reserve researchers have confirmed what many have long suspected: big banks that were bailed out by the government took on greater risk without increasing lending to businesses. In other words, after they were stabilized by an injection of government funds, the specific loans made … Read more
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Mar
06
“Irresponsible” Homeowner Eric Eisnaugle Foreclosed – Who is He and Why Do You Care
“We know what happened when we strayed from those values over the past decade – especially when it comes to the massive housing bubble that burst. Millions of families who did the right and responsible thing – who shopped for a home, secured a mortgage, and made their payments each month – were hurt badly … Read more
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Mar
06
Houston’s County Joins Texas Suit Seeking $10 Billion From MERS, Banks
Houston’s County Joins Texas Suit Seeking $10 Billion From MERS, Banks Harris County Texas, which includes the city of Houston, won a bid to join a group lawsuit seeking damages from the Mortgage Electronic Registration Systems Inc., Bank of America Corp. and Stewart Title Co. U.S. District Judge Reed C. O’Connor allowed Harris and nearby … Read more
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“End of the Road – How Money Became Worthless.” Teaser Video
By 4closureFraud | Bankruptcy, Foreclosure Fraud, News for the Patriot
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