- KABOOM | ILLINOIS AG MADIGAN FILES SUIT AGAINST NATIONWIDE TITLE CLEARING OVER FAULTY MORTGAGE ASSIGNMENTS FILED WITH COUNTY RECORDERS
- KABOOM | Illinois Attorney General MADIGAN ISSUES SUBPOENAS Against Lender Processing Services (LPS) & Nationwide Title Clearing (NTC)
- ‘Illicit Practice’ | Allonge by Crystal Moore of Nationwide Title Clearing
Feb
02
Reuters | Illinois Accuses Nationwide Title Clearing of Robosigning
“The suit also seeks civil penalties of up to $50,000 per violation.” ~ Illinois accuses mortgage firm of robosigning (Reuters) – The attorney general in Illinois on Thursday sued a mortgage document firm and said it filed “faulty” documents with local governments in a rush to process mortgages and foreclosures. Nationwide Title Clearing Inc was … Read more
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Feb
02
Mortgage Deal Would Give States Enforcement Clout (but will they use it)
Can’t wait to see Bondi in FL jump into action when the banks break the terms of the settlement… ~ Mortgage deal would give states enforcement clout (Reuters) – A proposed settlement to resolve mortgage abuses by top U.S. banks will give states broad authority to punish firms that mistreat borrowers in the future, according … Read more
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Jan
28
Reuters/Ipsos poll has Mitt up by 11 in FLA with three days to go
Not the best indicator, though.
We should probably warn you in advance not to get too excited about these results, but they’re popping the cork less than 72 before the polls open in the Sunshine State, so we’ll check in. Reuters/Ipsos finished a three day poll which seems to indicate a continuing trend of Mitt Romney opening up a comfortable [...]
Jan
26
Repost | (I Can’t Get No) Satisfaction | Mortgage Reincarnation – Paid Off Mortgages Coming Back to Life at an Alarming Rate
In light of the story, Reuters | Old Mortgages Rise from the Dead, Haunt Homeowners, we re-present the post that discuses mortgage reincarnation from a few weeks ago. The post features the Bowers family from the Reuters piece… Enjoy! ~ Manufactured Fraudclosure Via Revocation of Satisfaction of Mortgage Over a year ago, we started noticing … Read more
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Jan
26
Reuters | Old Mortgages Rise from the Dead, Haunt Homeowners
“This is an epic problem that the economy hasn’t even begun to digest,” said Florida foreclosure analyst Lisa Epstein. ~ Old mortgages rise from the dead, haunt homeowners (Reuters) – In July 2009, Roy and Sheila Bowers refinanced the mortgage on their suburban ranch home in Topeka, Kansas. The couple wanted to take advantage of … Read more
Related posts:
- More Zombie Debt | Deficiency Judgments for Unpaid Condo Fees and Unsatisfied Mortgages Come Back to Haunt Past Owners
- Fannie and Freddie’s Regulator Opposes Reducing Mortgages for Struggling Homeowners
- Bank of America Defrauded Homeowners About Tax Benefits of Mortgages, Says Lawsuit Filed by MIFSP
Jan
25
Loreley Financing v. Citigroup Global Markets | Citigroup Sued for Fraud Over $1 Billion of CDOs
Citigroup sued for fraud over $1 billion of CDOs (Reuters) – Citigroup Inc (C.N) was sued for fraud by Loreley Financing over nearly $1 billion worth of collateralized debt obligations purchased in 2006 and 2007. Citigroup is accused of defrauding Loreley into purchasing “fraudulent investments that are now worthless,” Loreley said in a complaint filed … Read more
Related posts:
- U.S. SECURITIES COMMISSION v CITIGROUP GLOBAL MARKETS INC | $285 Million Citi Settlement With SEC Rejected by Judge Jed Rakoff
- Unsealed Complaint | Citi Tried to Pass Off Madoff Exposure – Irving Picard, Trustee for the Liquidation of Bernard L. Madoff Investment Securities LLC v Citibank and Citigroup Global Markets Limited
- JPMorgan’s Independent Foreclosure Review Firm Deloitte & Touche LLP Recenly Sued for Failing to Detect Fraud that Led to more than $7 Billion in Losses
Jan
20
Reuters | Insight: Top Justice Officials, Eric Holder and Lanny Breuer, Connected to Banks, Freddie, Fannie and MERS
“A particular concern by those pressing for an investigation is Covington’s involvement with Virginia-based MERS Corp, which runs a vast computerized registry of mortgages.” ~ Insight: Top Justice officials connected to mortgage banks By Scot J. Paltrow (Reuters) – U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department’s criminal division, were … Read more
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Jan
09
Federal Reserve Governor Sarah Bloom Raskin Urges Penalties on Mortgage Servicers
Raskin Urges Penalties on Mortgage Servicers WASHINGTON (Reuters) – Federal Reserve Governor Sarah Bloom Raskin on Saturday said the Fed must impose monetary penalties on banks who entered into an April agreement with regulators over how to fix problems in their mortgage servicing businesses. “The Federal Reserve and other federal regulators must impose penalties for … Read more
Related posts:
- Cordray Urges Federal Reserve Not to Erode Consumer Rights
- Federal Reserve Board announces a formal enforcement action against the Goldman Sachs Group, Inc. and Goldman Sachs Bank USA
- Federal Reserve issues enforcement actions related to deficient practices in residential mortgage loan servicing and foreclosure processing
Jan
06
Why Did the Banks Need to Falsify and Forge Fabricated Documents?
Why Did the Banks Need to Falsify and Forge Fabricated Documents? The investors who purchased David Stern’s foreclosure mill have taken the extraordinary step of announcing publicly that they had been duped into buying a “criminal enterprise.” Obviously they didn’t want to get caught up in the dragnet of prosecutors looking for convictions. Nobody would … Read more
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Jan
05
Obama to cut “tens of thousands of ground troops” from military
"More realistic"?
The last time the US did this, we at least had the illusion of a “peace dividend” and unrivaled supremacy as the world’s only superpower. Now we’re fighting a tough war in Afghanistan, and China’s expanding its military might, if not its belligerence yet. According to Reuters, Barack Obama will unveil plans to downsize ground [...]
Jan
04
Bear Stearns Asset Backed Securities Trust 2005-4 v. EMC Mortgage Corp | JPMorgan Sued for $95 Million Over Mortgage Securities
JPMorgan Sued for $95 Million Over Mortgage Securities (Reuters) – JPMorgan Chase & Co has been sued for $95 million by the trustee for securities marketed in 2005 by the former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans. US Bank NA wants to force JPMorgan to buy back the mortgage loans … Read more
Related posts:
- Daily Finance | Did Bear Stearns Know Its Mortgage Securities Were a House of Cards?
- E-mails Suggest Bear Stearns Cheated Clients Out of Billions and Now JPMorgan May Be on the Hook
- In Re Bear Stearns Companies, Inc. Securities, Derivative, And Erisa Litigation | Motion to Dismiss Securities Fraud Complaint is Denied
Dec
30
A Must View – The Young Turks | Feds Won’t Prosecute Banks Despite Evidence Of Crimes (VIDEO)
A devastating report by Reuters shows that the federal government is focusing on small scale swindlers while ignoring crimes by big banks despite a wealth of evidence against them. The Young Turks host Cenk Uygur breaks it down. And I wonder how he really feels… http://www.huffingtonpost.com/2011/12/22/federal-prosecutors-mortgages_n_1164… ~ 4closureFraud.org Tweet Related posts: Must View Video | … Read more
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Dec
29
Whistleblower Documents Illuminate Case Against BNY Mellon
Whistleblower documents illuminate case against BNY Mellon NEW YORK (Reuters) – Confidential whistleblower documents that helped spark a massive state and federal investigation into how Bank of New York Mellon Corp charged pension funds for currency exchange, provide a rare window into how a bank insider aided a lawsuit against the bank. The information provided … Read more
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Dec
27
Iran: We’ll stop the flow of Gulf oil if sanctions are imposed
Just bluster?
Iran today threatened to close the Strait of Hormuz if the United Nations imposes sanctions on Iranian oil as a response to Iran’s sketchy uranium enrichment program, according to a report from Reuters. Iran has defiantly expanded nuclear activity despite four rounds of U.N. sanctions meted out since 2006 over its refusal to suspend sensitive [...]
Dec
23
Criminalizing Mortgage Delinquency | Bailed Out Wall Street CEOs of Recidivist, Predatory Financial Institutions Blame Homeowners in Foreclosure Fiasco
“Your mortgage didn’t get to a robo-signer by accident, it’s because you’re not paying.” ~ Wall Street blames homeowners in foreclosure fiasco (Reuters) – Wall Street’s reaction to the allegations that some banks cut corners while foreclosing on 3 million homes since 2007: Pay your mortgage in the first place. Some quotes from the asshats … Read more
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Dec
22
Fraudclosure | Special Report: The Watchdogs that didn’t bark
Special Report: The watchdogs that didn’t bark (Reuters) – Four years after the banking system nearly collapsed from reckless mortgage lending, federal prosecutors have stayed on the sidelines, even as judges around the country are pointing fingers at possible wrongdoing. UNPRECEDENTED FRAUD Reuters has identified one pending federal criminal investigation into suspected improper foreclosure procedures. … Read more
Related posts:
- Lender Processing Services – Special Report: Legal woes mount for a foreclosure kingpin
- KABOOM | Reuters SPECIAL REPORT: Banks Still Robo-signing, Filing Doubtful Foreclosure Documents
- A Collins Center Special Report | Balancing Economic Interests and Fairness in Florida’s Residential Mortgage Foreclosure System | April 2010
Dec
15
Weekly initial jobless claims drop to 366K
Lowest level in more than three years.
The US got some good news, albeit qualified, on the job front today from the Department of Labor. The level of initial jobless claims last week fell to 366,000, the lowest level since a normal recession turned into something historically ugly: In the week ending December 10, the advance figure for seasonally adjusted initial claims was 366,000, [...]
Dec
14
Brooklyn Beatdown | Schack Attack – U.S. Bank N.A. v. Wayne Ramjit: ‘Conflicted Robosigner’ Equals No Foreclosure
‘Conflicted robosigner’ equals no foreclosure: NY state judge NEW YORK, Dec 13 (Reuters) – On Monday, a Brooklyn judge dismissed a mortgage-foreclosure case over a major New York firm’s failure to vouch for the veracity of its court filings amid questions over whether it used a “conflicted robosigner” to support its case. On July 28, … Read more
Related posts:
- Another Brooklyn Beatdown – Hon. Arthur M. Schack – Plaintiff U.S. BANK Never had Standing to Prosecute this Action Because of an Ineffective Assignment
- Brooklyn Beatdown – Hon. Arthur M. Schack – Foreclosure Judgement and Sale Vacated, Case Dismissed WITH Prejudice
- Brooklyn Beatdown | Judge Schack Dismissal w/ Prejudice “Counsel for plaintiff is directed never to place such a foolish statement in a cover letter to this Court”
Nov
25
Desert Underwater Part 3: Robo-Signing Problems on Foreclosure Documents
View part 4 here… ~ 4closureFraud.org Tweet Related posts:Linda Green | Robo-signing Signing Scandal Hits Allen County Recorder John McGauley, Thousands of Suspect Documents, Including His Own American Banker | Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents KABOOM | Reuters SPECIAL REPORT: Banks Still Robo-signing, Filing Doubtful Foreclosure Documents
Related posts:
- Linda Green | Robo-signing Signing Scandal Hits Allen County Recorder John McGauley, Thousands of Suspect Documents, Including His Own
- American Banker | Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents
- KABOOM | Reuters SPECIAL REPORT: Banks Still Robo-signing, Filing Doubtful Foreclosure Documents
Nov
25
Desert Underwater Part 3: Robo-Signing Problems on Foreclosure Documents
View part 4 here… ~ 4closureFraud.org Tweet Related posts:Linda Green | Robo-signing Signing Scandal Hits Allen County Recorder John McGauley, Thousands of Suspect Documents, Including His Own American Banker | Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents KABOOM | Reuters SPECIAL REPORT: Banks Still Robo-signing, Filing Doubtful Foreclosure Documents
Related posts:
- Linda Green | Robo-signing Signing Scandal Hits Allen County Recorder John McGauley, Thousands of Suspect Documents, Including His Own
- American Banker | Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents
- KABOOM | Reuters SPECIAL REPORT: Banks Still Robo-signing, Filing Doubtful Foreclosure Documents
Nov
21
Gingrich bounces to top of Reuters/Ipsos, Gallup polls
Bubble bath.
Another month, another bubble in the Republican presidential race — or is it more than that? In a pattern we have seen repeatedly this year, another GOP presidential candidate not named Mitt Romney has ascended to the top of national polling, transforming the race and etcetera etcetera etcetera. This time it’s Newt Gingrich taking the [...]
Nov
06
Quotes of the day
On message.
“Allegations that Republican presidential candidate Herman Cain sexually harassed women in the 1990s have begun to damage his bid for the White House, a Reuters/Ipsos poll found. “The poll showed the percentage of Republicans who view Cain favorably dropped 9 percentage points, to 57 percent from 66 percent a week ago… “A majority of respondents, [...]
Oct
20
BAM! | US Judge Takes $8.5 Bln BofA Deal from State Court in Bank of New York Mellon vs Walnut Place
US judge takes $8.5 bln BofA deal from state court * Consummation of proposed deal could be lengthened * Stake high for Bank of America’s potential liability NEW YORK, Oct 19 (Reuters) – A judge on Wednesday decided to keep a proposed $8.5 billion settlement over Bank of America Corp’s mortgage-backed securities in federal court, … Read more
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Oct
17
An age of austerity?
Not hardly.
Have you heard that the Republican-imposed budget austerity is responsible for the continuing economic malaise? All of those budget cuts imposed as part of the FY2011 compromise has supposedly damaged the economic recovery that was just around the corner, or something. Reuters reported on this claim last week: Obama’s re-election chances next year may hinge [...]
Oct
13
Reuters strangely cheered by statistical noise in economic indicators
"Somewhat reassuring."
The Departments of Commerce and Labor released scheduled reports on the monthly trade deficit (for August) and initial weekly jobless claims today, but I didn’t plan on writing much about either. They showed no real change from the previous reports in the series, and give no indication one way or the other about the direction [...]
Oct
13
Obama, DNC raise $70 million in Q3
Down from $86 million in Q2.
Fundraising for Barack Obama and the Democrats tailed off by almost 20% in the third quarter, according to news reports on the combined haul for the DNC and Obama 2012 campaigns. They raised a total of $70 million combined, about 19% less than Q2′s $86 million. Reuters gives it a sunny spin: President Barack Obama and [...]
Oct
09
Justice Scalia: “Learn to love the gridlock”
"The real key to the distinctiveness of America is the structure of our govenment."
It is a shame that Reuters was about the only media outlet to report on this part of this week’s Senate Judiciary Committee hearing: Supreme Court Justice Antonin Scalia on Wednesday rejected concerns by Americans of a dysfunctional government because of disagreements and difficulty in getting legislation through Congress. Such complaints escalated earlier this year [...]
Oct
05
You Know it’s Bad When… Poverty Stricken Hungry Muppet to Appear on “Sesame Street”
Hungry Muppet to appear on “Sesame Street” (Reuters) – A new poverty-stricken Muppet will highlight the issue of hunger struggles on an episode of “Sesame Street”, the show said in a statement on Tuesday. Pink-faced Muppet Lily, whose family deals with food insecurity, will join Big Bird, Elmo and other favorites on a one-hour prime-time … Read more
Sep
30
Reuters: Huckabee thinking of jumping into presidential race; Update: HuckPAC denies
What?
Dude. Mike Huckabee has been approached by Republican and conservative activists unhappy with the current crop of presidential hopefuls and he is considering entering the fray, two sources who have spoken with Huckabee told Reuters… “He is entertaining the request for conversations about it,” one of the sources said. “I do not think it is [...]
