May
10

Banking Giant HSBC ‘A Criminal Enterprise’

Banking giant HSBC ‘a criminal enterprise’ Whistleblower makes damning case in video interview The global banking giant HSBC is a “criminal” operation, charges a former officer for the company’s southern New York region in a video interview with WND. John Cruz, a former vice president and relationship manager, has turned over to WND more than … Read more No related posts.
May
10

Banking Giant HSBC ‘A Criminal Enterprise’

Banking giant HSBC ‘a criminal enterprise’ Whistleblower makes damning case in video interview The global banking giant HSBC is a “criminal” operation, charges a former officer for the company’s southern New York region in a video interview with WND. John Cruz, a former vice president and relationship manager, has turned over to WND more than … Read more No related posts.
Feb
12

Senators Slam Freddie on Bets Against Homeowners

Senators Slam Freddie on Bets Against Homeowners by Jesse Eisinger ProPublica Sen. Robert Menendez, D-N.J., had sharp words for Freddie Mac’s investment practices and conflicts of interest at a Senate Banking Committee hearing Thursday. The senator’s concerns came in the wake of a ProPublica and NPR report that Freddie, the giant taxpayer-owned mortgage company, had … Read more Related posts:
  1. Bets Against Homeowners Must Stop, Freddie Mac Was Told
  2. Freddie Mac Bets Against American Homeowners
  3. FHFA Statement on Freddie Mac “Refinance” Story RE Betting Against American Homeowners
Feb
12

Why Millions Won’t Get Help From Big Mortgage Settlement

Why Millions Won’t Get Help From Big Mortgage Settlement by Cora Currier ProPublica Answers to homeowners’ questions about the Independent Foreclosure Review.The administration’s website for the foreclosure prevention program. Provides an FAQ, homeowner examples, and other tools to see whether you might qualify for the program.A list of HUD-approved housing counseling agencies nationwide.Tips for homeowners … Read more Related posts:
  1. TIME | Details of Mortgage Servicing Settlement Between Banks and AGs Begin to Emerge
  2. Freddie Mac Seek $6 Billion of Treasury Aid After Executives Get Big Cash Bonuses (MILLIONS)
  3. NBC Discusses MERS w/ Video | Counties Seek Millions From Mortgage Giant
Feb
04

Senator Robert Casey Demands Answers from Freddie Mac’s Regulator

Senator Demands Answers from Freddie Mac’s Regulator Jesse Eisinger, ProPublica, and Chris Arnold, NPR News Senator Robert Casey (D-PA) sent a list of questions about Freddie Mac’s controversial trades to the mortgage giant’s regulator, highlighting how much remains unknown even after a flurry of statements from the regulator. ProPublica and NPR reported on Monday that … Read more Related posts:
  1. Freddie Mac’s Regulator Says Trades Were Shut Down Because They Were “Risky”
  2. Federal Housing Finance Agency Office of Inspector General Semiannual Report to the Congress – Housing Regulator Failed to Stop Fannie, Freddie Mortgage Issues
  3. FAIL | Reports Fault Regulator of Fannie, Freddie
Jan
31

NY Times | Treasury Investigates Freddie Mac Investment

Treasury Investigates Freddie Mac Investment The Treasury Department is investigating a report that Freddie Mac, the mortgage giant, bet against homeowners’ ability to refinance their loans even as it was making it more difficult for them to do so, Jay Carney, a White House spokesman, said on Monday. The report came just as the Obama … Read more Related posts:
  1. Freddie Mac Seek $6 Billion of Treasury Aid After Executives Get Big Cash Bonuses (MILLIONS)
  2. NY Times | Banks Want Pieces of Fannie-Freddie Pie
  3. Fannie Mae Begs Treasury for $7.8 Billion MORE to Stay Afloat After HUGE Bonuses Given to Executives
Jan
31

NY Times | Treasury Investigates Freddie Mac Investment

Treasury Investigates Freddie Mac Investment The Treasury Department is investigating a report that Freddie Mac, the mortgage giant, bet against homeowners’ ability to refinance their loans even as it was making it more difficult for them to do so, Jay Carney, a White House spokesman, said on Monday. The report came just as the Obama … Read more Related posts:
  1. Freddie Mac Seek $6 Billion of Treasury Aid After Executives Get Big Cash Bonuses (MILLIONS)
  2. NY Times | Banks Want Pieces of Fannie-Freddie Pie
  3. Fannie Mae Begs Treasury for $7.8 Billion MORE to Stay Afloat After HUGE Bonuses Given to Executives
Jan
09

Barry Ritholtz | Does Lender Processing Services (LPS) Deserve the Corporate Death Penalty?

“The end game for this is fairly obvious: Find the fuckers who authorized this, prosecute and convict them, and throw their sorry asses in jail.” ~ Does Lender Processing Services Deserve the Corporate Death Penalty? Today, we have what appears to be a parallel fraud: The processing of foreclosure documents by legal services giant Lender … Read more No related posts.
Nov
30

Florida: Gingrich 47, Romney 17, Cain 15, Paul 5

What?


I know what you’re thinking: “Didn’t Jazz already blog the new giant-lead-for-Gingrich-in-Florida poll?” Actually, no — that was a different poll, conducted by Insider Advantage. This new one comes from PPP. We’ve now got two separate surveys showing Newt Gingrich — Newt Gingrich — above 40 percent in a key battleground state with Romney 20+ [...]

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Nov
11

MERS | Mortgage Registry Accused of Owing El Paso County Millions; Will County Sue? (VIDEO)

Click through to view video ~ Mortgage Registry Accused of Owing EP County Millions; Will County Sue? EL PASO – Between record home foreclosures and devastating budget cuts, El Paso County has seen a rough couple of years recently. We usually think of these crises as separate, but some argue there’s a common link between … Read more Related posts:
  1. More “Local” Coverage | El Paso Lawyer Takes on MERS (Video)
  2. NBC Discusses MERS w/ Video | Counties Seek Millions From Mortgage Giant
  3. Dallas County District Attorney Craig Watkins to Explore Possible Claims against Mortgage Electronic Registration Systems, Inc., to Potentially Recoup Millions for Dallas County
Oct
31

Planned Parenthood responds to Cain’s repeat criticism of the biz as racist

Skeletons in PP's closet.


Way back when, long before his own views about abortion had been misstated and re-clarified, Herman Cain made this provocative statement about the highly questionable origins of abortion giant Planned Parenthood: “I absolutely would defund Planned Parenthood — not because I don’t believe in planning parenthood, [but because] Planned Parenthood as an organization is an [...]

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Oct
27

Banker Hanging From a Phone Line Along I-95 (PICS)

Yes, That’s a Banker Hanging From a Phone Line Along I-95 But no, it is not real. For the past week, graffiti artist Above has been working on a giant, attention-grabbing mural in Wynwood next to the I-95 northbound lanes as part of Primary Flight. It reads in block letters: “Give a Wall Street banker … Read more Related posts:
  1. President Obama’s Approval Rating Soars After Punching Wall Street Banker in the Face (The Onion)
  2. Naked Capitalism | Banker Derangement Syndrome: Lawyers Offer to Get Rid of Their Profession to Save the TARP Banks
  3. Photos: Airline Pilots Protest on Wall Street Tuesday, September 27, 2011 #OccupyWallStreet
Oct
20

A Letter from Goldman Sachs Concerning Occupy Wall Street

A Letter from Goldman Sachs Concerning Occupy Wall Street NEW YORK (The Borowitz Report)– The following is a letter released today by Lloyd Blankfein, the chairman of banking giant Goldman Sachs: Dear Investor: Up until now, Goldman Sachs has been silent on the subject of the protest movement known as Occupy Wall Street.  That does … Read more Related posts:
  1. Lee Camp | “Wall Street Is Dirtier Than Occupy Wall Street”
  2. ‘Occupy Wall Street’ movement stages first rally in Palm Beach County
  3. Abigail Field | Dear Occupy Wall Street: Thank You For Defending the American Principle of Equality
Sep
20

Fannie Mae Fail | Heated Exchange – New Buyer Can’t Move in because Renter Won’t Move Out (Video)

Tenant, owner get in heated exchange over foreclosure LITHONIA, Ga. — Officials with government mortgage giant Fannie Mae said they’re investigating a DeKalb foreclosure sale gone horribly wrong. The new buyer can’t move in because a renter won’t move out. Channel 2′s Jim Strickland was there when they clashed in the driveway.”This signifies that I … Read more
Aug
16

Video: The coming price explosion of ObamaCare

"2014 is when our country changes substantially."


If you think ObamaCare is expensive now, just wait until people and employers really understand the federally-mandated state exchanges and subsidies. Reason TV interviews Glenn Morton, author of Passing ObamaCare, which exposes the giant financial hole that ObamaCare will create when the incentives become clear: In projecting the program’s costs, the Congressional Budget Office figures [...]

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Aug
15

David J. Stern Insurer, Admiral Insurance Company Files Lawsuit, Says it doesn’t Cover Claims Involving “Fraud”

Stern insurer wants out of policy, says it doesn’t cover claims involving “fraud” by Kim Miller An insurer for former foreclosure giant David J. Stern wants out of its policy, saying in a lawsuit that the company doesn’t cover “claims based upon, arising out of, directly or indirectly resulting from or in consequence of, or … Read more
Aug
15

LIES | Fannie Mae Promises to Keep Families in Homes, but Instead Pressures Banks to Foreclose

Fannie Mae promises to keep families in homes, but instead pressures banks to foreclose In early December, a senior executive at Fannie Mae assured members of the Senate Banking Committee in Washington that the mortgage giant was doing everything possible to address the foreclosure crisis. “Preventing foreclosures is a top priority for Fannie Mae,” Terence … Read more
Aug
08

PONZI PART DEUX | Freddie Mac Seeks $1.5 Billion from Taxpayers

Freddie Mac seeks $1.5 billion from taxpayers (Reuters) – Mortgage finance giant Freddie Mac FMCC.OB said on Monday it would need to ask for an additional $1.5 billion from taxpayers due to losses stemming from weak housing markets. The company reported a comprehensive loss in the second quarter of $1.1 billion. Despite income of $1 … Read more
Aug
08

PONZI | Fannie Mae Seeks $5.1 bln More from US Taxpayers

Fannie Mae seeks $5.1 bln more from US taxpayers By David Lawder WASHINGTON, Aug 5 (Reuters) – Mortgage finance giant Fannie Mae (FNMA.OB) said it would ask for an additional $5.1 billion from taxpayers as a weaker housing market causes continued losses on loans made prior to 2009. The largest U.S. residential mortgage funds provider … Read more
Aug
05

Fannie Mae asks for another $5.1 billion in bailout cash

More taxpayer gruel.


Today brings more great news from the bailout.  Fannie Mae, which has already eaten over $100 billion of taxpayer money after being absorbed by the federal government in 2008, took a loss in the second quarter of $5.2 billion — and they want taxpayers to cover it: Mortgage finance giant Fannie Mae said it would ask for [...]

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Feb
28

Fannie Sues to Get Files Back From Ben Ezra….

Fannie Mae, the nation’s largest provider of mortgage funding, has asked a Broward County judge to order the Fort Lauderdale law firm it fired this month to turn over its case files.

As part of a lawsuit filed by Fannie Mae on Feb. 11 —— one day after it cut ties with Ben-Ezra & Katz —— the mortgage giant sought a preliminary injunction to force the law firm to turn over files on its more than 15,000 cases statewide.

Fannie Mae claims it will suffer “irreparable harm” if the files are not transferred immediately because they contain original promissory notes and mortgages “which, of course, cannot be replaced.” The judge has not yet ruled.

Ben Ezra

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Feb
11

Palm Beach Post- Fannie Mae fires second South Florida law firm

(I wonder what happens to all those files that got transferred? So much for that swarthy swagger I saw in court yesterday, the mill attorney proudly asserting the right for any old party to foreclose, picking up files and arguing for one firm after another, just having a field day in the courtroom…a real grand pooh bah.)

Federal mortgage giant Fannie Mae has cut ties with a second South Florida law firm handling its foreclosure cases, requiring an immediate transfer of those files to other attorneys and likely causing more turmoil in the state’s foreclosure courts.

The termination of its relationship with the Fort Lauderdale firm of Ben-Ezra & Katz, P.A. was announced today in a notice to loan servicers. The notice says payments to the firm should be stopped immediately and gives servicers a Feb. 15 deadline to find new firms to handle the Ben-Ezra & Katz files.

(Full Article)

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Jul
15

JPMorgan Chase: We Had So Many Buy-Backs That We Had to Put This Policy in Place

JPMorgan Chase apparently has a new policy that homeowners and their attorneys should know about related to postponing the scheduled dates of trustee sales.

It seems that the giant financial institution screwed up so many times, selling homes they had promised not to sell, and then having to buy them back to fulfill their obligation, that they decided that a new policy was needed to prevent this from happening in the future.  Now, they could have considered policies that would have lead to improved internal operations, perhaps as a result of the left hand knowing what the right hand is up to at any given point in time.  That line of thinking, however, was obviously abandoned, if it was considered at all, in favor of a policy that would lay blame for the problem at the feet of the homeowners.

CHASE now says that their new policy prohibits the postponing of sales, regardless of the reason, if the request to postpone is made within 7 days… or maybe 5 days… or it could be 2 days (depending on who you talk to at CHASE), before the scheduled sale date.

“We had so many buy-backs that we had to put this policy in place,” explained a CHASE employee, speaking with an attorney who was calling to postpone a sale after hearing that his client had just been approved by CHASE for a loan modification.

“It just seems ridiculous,” said the attorney, who asked to remain nameless so as not to damage his relationship with CHASE.  “How can they think it makes sense in today’s environment to refuse delaying the sale of a home, regardless of the reason, based solely on an arbitrary number of days?  What’s the big deal, like they need another foreclosure?”

I couldn’t agree more with that sentiment, it should go without saying, but it’s more than that.  Over and over again, I see clear evidence that the banks and servicers are not in touch with the reality of the situation in which they are embroiled.  As a group, they quite obviously believe that they are doing just fine and therefore free to act as they please.  It’s we the people that are having problems that are totally unrelated to them, and they will try to contend, but frankly are getting a headache.

When dealing with Bank of America, on the other hand, you cannot call to postpone a sale, unless you do so WINTHIN 72 hours of the scheduled date.

What do you suppose Wells Fargo’s policy is?  I don’t know, but this whole issue is so rational and well thought out that I figure it could be that if you want to postpone a sale with them, you have to call twice on the 15th day before the sale, once on the 9th day, and then the day before, you call after 7:00 AM but before 9:00 AM, let it ring twice, hang up, and then do the hokey pokey and turn yourself around… that’s what it’s all about.  This entire subject is completely insane, and anyone who doesn’t see that… well, is a banker.

I have a newsflash for banks and servicers about how the public views what’s going on as related to the foreclosure crisis and the corresponding free fall in housing prices that is causing acute pain to everyone, including most of those working for banks and servicers, although admittedly not those at the very top:

Regardless of what you bankers and servicers think, and regardless of what the letter of the law says is acceptable in terms of attitude or behavior, you are not islands in our society or economy, you will not survive as such, and we expect you to act like you’re citizens of this country, willing to pitch in and lend a hand for the greater good when our nation is under siege.  Do you guys get that at all?

Like, remember the afternoon of 9-11?  Would Bank of America have told people who walked in on that day that the bathroom was for employees only, that they couldn’t let non-employees use the phone?  Did CHASE return checks that day on overdrawn accounts, or report late payments to the credit bureaus?  I would certainly hope not, and I don’t think so.  Banks would have certainly been within their rights to follow the rules on that day, like any other, but they realized, were they to do such things, the people would be shocked and offended.

Well, the foreclosure crisis is much worse that 9-11 in every way.  It has taken more lives, caused more pain, and most certainly will have a much longer lasting impact.  I don’t really mean to compare the two, but I’m not sure what else to do in order to make my point clear.  The President of the United States wants you guys to modify loans when it makes financial sense to do so, he really does.  He can’t make you do anything, I realize, but he’s asked awfully nicely on several occasions, and with good reason.

We’re circling the drain in this country, economically speaking; have you guys at banks and servicers even noticed?  It’s true… almost all of us are not doing well at all.  We look okay, perhaps, and we don’t tell others how totally freaked out we are, but don’t let the façade fool you.  We’re changing too, starting to figure things out, more and more each day.  Most of us now know its been you guys all along, and many, many, many of us are going to remember the way you’ve treated homeowners for a long, long time.

And since it’s not even close to being over, and since you guys at banks and servicers are obviously not changing your attitude… here’s a few things you might want to think about…

Consumer spending is roughly 70% of this country’s economy, so as the television commercial says… if we don’t look good, you don’t look good.  And we’ve got lawyers now.  I know you tried to stop that trend, but you failed.  And the court decisions are going our way more and more every day, have you noticed that?

Frankly, you’re not looking all that good at this point, in fact, if I were a betting man, I’d have to say that whatever it is you think you’re winning, may not be worth having. But, as always, it’s up to you.

Mandelman out.

Jul
13

NV Judge Grants TRO and Denies M/Dismiss

Please send pleadings motions and order to ngarfield@msn.com

NEVADA case law.

Joseph Brown, Plaintiff vs. Wells Fargo Bank.

Plaintiff Brown wins a temporary injunction against mortgage giant Wells Fargo.
Also, defendants Motion to Dismiss was denied. The case is bound over for trial.


Filed under: foreclosure
Apr
21

Former KB Home CEO convicted in backdating trial

The former head of construction giant KB Home was convicted Wednesday of four felony counts in a stock option backdating scam.







KB HomeOptions backdatingOptionBusinessInjustice

Sep
23

Kansas: Waking up to discover the mortgage market was a giant criminal enterprise

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