CoreLogic Reports 55,000 Completed Foreclosures in March
sacbee.com | April 30, 2013
IRVINE, Calif., April 30, 2013 -- /PRNewswire/ -- CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its March National Foreclosure Report which provides data on completed U.S. foreclosures and the national foreclosure inventory.
UP Fact-Check: Falcone's Securitization Proposal
abs-cbnnews.com | April 30, 2013
Senatorial candidate Baldomero Falcone said during the Harapan 2013 Senatorial Debat that he will "teach securitization to all [local governmeent officials]…so that we'll have an economic reconnaissance all over the countryside."
While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got $2 Billion
rollingstone.com | April 30, 2013
The obscene greed-and-arrogance stories emanating from Wall Street are piling up so fast, it's getting hard to keep up. This one is from last week, but I missed it – it's about the foreclosure/robo-signing settlement that was concluded earlier this year.
Suspended Attorney Stripped of Quiet Title to Foreclosed Home He Repaired
theindianalawyer.com | April 30, 2013
A suspended Gary attorney who was awarded a quiet title to an abandoned, foreclosed property after he entered a house without authorization and began to maintain it was stripped of the title Tuesday by the Indiana Court of Appeals.
Wall Street and Innovation: A Dangerous History
fool.com | April 28, 2013
Paul Volcker, the former Federal Reserve chairman, quipped a few years ago that the only useful financial innovation of the past three decades is the ATM.
Zombie Foreclosure Statistics Scary
articles.chicagotribune.com | April 28, 2013
This is how hot this "zombie" thing has become in our culture — they've sleepwalked their way off the TV screen and into the real estate market. Well, sort of. I refer to the phenomenon of zombie foreclosures, which are homes that, like their pop culture namesakes, aren't exactly alive — but they're not dead either.
Foreclosures in California at Lowest Point in Eight Years
southerndailypress.com | April 26, 2013
For the March ending quarter of 2013, foreclosure filings in the state of California went down 67 percent compared to the year-ago quarter, marking the lowest number of default filings in the state since the fourth quarter (December ending quarter) of 2005.
Robo-Signed Collection Cases Under Fire
foxbusiness.com | April 26, 2013
Millions of debt collection cases could be fatally flawed -- even when a judge has already banged down the gavel and allowed a debt buyer to seize a debtor's assets.
Bank “Zombie Title” Rises, Hurting Communities and Borrowers, as OCC and Fed Sit Pat
nakedcapitalism.com | April 26, 2013
We’ve written before about the perverse phenomenon known as “zombie title.” Servicers initiate a foreclosure and complete most of the steps, including evicting the borrowers, but then fail to take title to the house. Adding insult to injury, the banks rarely inform the former homeowner of this cynical move.
MFI-Miami Warns the White House Not to Provoke a Political Fight With Hispanic Homeowners
online.wsj.com | April 23, 2013
TRAVERSE CITY, MI and DETROIT, MI--(Marketwired - Apr 23, 2013) - On April 23, 2013, Steve Dibert, President of internationally-renowned mortgage investigation firm MFI-Miami, announced that the Federal Housing Finance Agency's policy of "Dual Tracking," coupled with reneging on loan modification offers to Hispanic homeowners will provoke a political fight between the White House and the nation's second largest voting demographic.
'Robo-signing' Attorney David J. Stern Hit with 17-count Bar Complaint
bizjournals.com | April 19, 2013
It took two years, but the Florida Bar has finally dropped a doozey of a complaint against former foreclosure king David J. Stern.
ABP Settles RMBS Suit with Goldman Sachs
ai-cio.com | April 19, 2013
ABP settles the last in a series of cases brought against investment banks over mortgage-backed securities sales.
Wells Fargo Asks Judge to Dismiss U.S. Mortgage Loans Suit
businessweek.com | April 18, 2013
Wells Fargo & Co. (WFC) asked a judge to dismiss a suit by the U.S. government claiming the bank made reckless mortgage loans that caused losses for a federal insurance program.
Bank of America CEO, Ex-CEO Must Face Mortgage Disclosures Lawsuit
foxbusiness.com | April 18, 2013
A federal judge has revived a securities fraud lawsuit accusing Bank of America Corp Chief Executive Brian Moynihan, his predecessor Kenneth Lewis, and others of misleading shareholders about the risk the bank might have to buy back large amounts of soured mortgages.
Goldman Sachs Can't Shake Fraud Lawsuit
courthousenews.com | April 17, 2013
(CN) - Goldman Sachs cannot dismiss Prudential's claims that it falsely represented more than $375 million in residential mortgage-backed securities in its offering materials, a federal judge ruled in New Jersey.
Ultimate Statistics Senator Takes on U.S. Regulators’ $9.3bn Foreclosure Agreement
ftalphaville.ft.com | April 15, 2013
FT Alphaville does like a good Senate Banking Hearing. Especially when they feature a political body slam on proper statistical methods. And so we are proud to announce this month’s Ultimate Statistics Fighter… [dramatic pause]… is Senator Elizabeth Warren!
Mortgage Servicers’ Robosigning Payments Being Sent to Borrowers
bloomberg.com | April 14, 2013
Rust Consulting Inc. will begin sending $125,000 checks to 1,135 borrowers deemed most harmed by botched foreclosures in 2009 and 2010 that led to a $9.3 billion settlement between regulators and U.S. mortgage servicers.
Area Foreclosures Both Up And Down
bocanewsnow.com | April 12, 2013
BOCA RATON, FL (BocaNewsNow.com) — Area foreclosures are up from last month but down from a year ago, suggesting a recovery — albeit a slow recovery — is in effect in Palm Beach County.
Dykema Obtains Sixth Circuit Decision Dismissing Robo-signing and Defective MERS Assignment Claims
lexology.com | April 12, 2013
In a decision issued yesterday (4/10/13), the United States Court of Appeals for the Sixth Circuit affirmed the dismissal of a complaint seeking to set aside a foreclosure sale based on an alleged defect in the assignment of the mortgage by Mortgage Electronic Registration Systems, Inc. (MERS).
1st Quarter Foreclosures Drop 12%, Says RealtyTrac
ourbroker.com | April 11, 2013
Quarterly foreclosure filings are down significantly from 2012 — but that big problems remain.
HARP Refinances: A Quarter Have Loan-to-Values of 125% or More
ecreditdaily.com | April 10, 2013
There were nearly 470,000 refinances in January, with about 97,600 – or 21 percent – completed through the Home Affordable Refinance Program (HARP), according to the regulator over Fannie Mae and Freddie Mac.
Goldman Fails to Dismiss Prudential Mortgage Fraud Lawsuit
reuters.com | April 10, 2013
Goldman Sachs Group Inc (GS.N) must face a lawsuit in which Prudential Financial Inc (PRU.N) accused the Wall Street bank of defrauding it into buying more than $375 million of residential mortgage-backed securities it knew were unsafe.
The Banks' "Penalty" To Put Robosigning Behind Them: $300 Per Person
zerohedge.com | April 10, 2013
Back in late 2010, there was much hope that as a result of the unfolding robosigning "Linda Green" scandal, not only would banks would be forced to fix their ways by incurring crippling civil penalties (because not even the most optimistic hoped any bankers would ever face criminal charges for anything), but that the US housing market may even reprice to a fair price as for a brief moment there nobody had any idea who owned what mortgage.
Payments Start in $3.6 Billion Foreclosure Settlement
usatoday.com | April 10, 2013
Checks for millions of mortgage borrowers are almost in the mail as a result of a federal settlement about foreclosure abuses, but they won't be very big in most cases.
What’s at the Bottom of the ‘Robosigning’ Scandal?
jdsupra.com | April 10, 2013
The problematic practice of robosigning – whereby banks and other lenders improperly foreclosed on properties through formulaically processing foreclosure documents – has been much in the news over the past couple of years.
Too Big to Fail Discounted as Moody’s Evaluates: Credit Markets
bloomberg.com | April 10, 2013
U.S. lawmakers are making progress convincing derivatives traders that taxpayers won’t bail out the biggest banks if another financial crisis erupts.
US Regulators Probe More Bank Deception
midasletter.com | April 10, 2013
Regulators are expanding their probe into whether the world’s major banks deceived customers to manipulate a benchmark interest rate used to settle trillions of dollars of trades every day.
Advocates Push to Preserve Foreclosure Program
washingtoninformer.com | April 10, 2013
A broad coalition of state and national organizations is pushing to preserve a key federal program that has helped more than 1.1 million troubled homeowners and reduced mortgage payments by a median savings of $546 each month. The Home Affordable Modification Program (HAMP), created in response to the nation's housing crisis, is set to close shop on December 31. Housing and consumer advocates are urging the U.S. Treasury Department to reconsider ending the program.
Robert Lockett vs. Bank of America, N.A.
jdsupra.com | April 10, 2013
The Honorable Abraham Khan of the Los Angeles Superior Court overrules Bank of America's demurrer to quiet title, cancellation of instrument, accounting and declaratory relief and denies judicial notice of the deed of trust and assignment of the deed of trust based on allegations of fraud, robo-signing and forgery.
States Fight Back Against MERS Mortgage Fraud
stopforeclosurefraud.com | April 8, 2013
A prominent economist said about the 2008 financial crisis: “At the root of the crisis we find the largest financial swindle in world history”, where “counterfeit” mortgages were “laundered” by the banks.
BANK OF AMERICA’S MOTION FOR SUMMARY JUDGEMENT DENIED | ORANGE COUNTY SUPERIOR COURT — Did not establish the foundational basis that MERS could assign the Deed of Trust
stopforeclosurefraud.com | April 8, 2013
Pauline Suarez vs. Bank of New York Mellon, National Association, as Trustee for the Certificateholders of CWALT, Inc., Alternative Loan Trust 2006-OA16, Mortgage Pass-Through Certificates, Series 2006-OA16.
Mortgage trouble? Help may be on the way.
rrobserver.com | Apr 7, 2013
I am several months behind on my home mortgage. The interest rate is 6.5 percent, which was great at the time, but is not so good now. I’ve applied to the bank for a cut in interest rate, but so far they’ve turned me down. I want to stay in my home, but can’t afford my current payment. Do you have any ideas? —Thomas in Rio Rancho
Lies, Damn Lies And Statistics: OCC Says Foreclosures at Four-Year Low. The End of the Cycle or Just a Mirage?
cfs-lawblog.com | Apr 7, 2013
In a March 27 report on first-lien mortgages, the Office of the Comptroller of the Currency (OCC) likewise announced that in-process residential foreclosures had fallen below one million at the end of 2012, the lowest number since June 2009. In fact, nationwide, servicers initiated just 156,773 foreclosures in the fourth quarter. So what triggered the steep decline?
Housing Foreclosure Backlog Eases
news-press.com | Apr 7, 2013
The number of foreclosures backlogged in the Lee County court system drifted up in 2012 after three years of sharp decline — but now the numbers are trending down again.
National, State Advocates Push to Preserve Foreclosure Assistance
washingtoninformer.com | Apr 7, 2013
A broad coalition of state and national organizations is pushing to preserve a key federal program that has helped more than 1.1 million troubled homeowners and reduced mortgage payments by a median savings of $546 each month.
Robo-Signing Victims to Get Money in April
afrmortgage.com | Apr 7, 2013
Are beleaguered homeowners who were unjustly led into foreclosure by unscrupulous mortgage lenders finally getting their financial comeuppance? Although 10 banks are preparing to provide wronged borrowers with settlements ranging from a few hundred dollars to $125,000, many are crying foul.
Feds Accuse New York Mortgage Lender of Fraud
gimby.org | Apr 7, 2013
A civil lawsuit filed in Manhattan federal court by the Justice Department (DOJ) this week accuses Golden First Mortgage Corporation of defrauding the federal government between 2002 and 2010.
Manhattan U.S. Attorney Files Mortgage Fraud Lawsuit Against Golden First Mortgage Corp. and David Movtady for Fraudulently Certified Loans
blog.seattlepi.com | Apr 7, 2013
Suit alleges practice of fraudulent loan certification resulting in at least $12 million in losses on FHA-insured loans.
Banks Say Stricter Securitization Rules May Hurt Lending
businessweek.com | Apr 5, 2013
Banks are lobbying against international plans to tighten rules on securitization claiming they will tie up capital and starve the economy of credit.
GAO Calls Out Bank Regulators For Mucking Up Foreclosure Reviews
consumerist.com | Apr 4, 2013
Back in April 2011, in the wake of the robosigning scandal and in light of numerous instances of erroneous seizures, the Office of the Comptroller of the Currency and the Federal Reserve System ordered independent reviews of the foreclosure process at the country’s 14 largest mortgage servicers. Now, two years on, the Govt. Accountability Office is saying these regulators allowed the review process to become inconsistent and overly complex.
Emails Show Ex-Deutsche Trader Lippmann Wanted Lehman Derivatives
blogs.wsj.com | Apr 1, 2013
Former Deutsche Bank star DBK.XE +3.30% trader Greg Lippmann considered taking on some of Lehman Brothers’ derivatives positions in the days following the investment bank’s September 2008 collapse, a deal that could have been worth more than $500 million to the investment bank’s creditors, according to newly released emails.
Ex-Freddie Execs Lose Bid to Toss SEC Lawsuit
newsandinsight.thomsonreuters.com | Apr 1, 2013
NEW YORK, March 29 (Reuters) - Former Freddie Mac chief executive Richard Syron and two other one-time executives lost their bid to escape a U.S. regulator's lawsuit accusing them of misleading investors about the company's exposure to risky mortgage loans.
Back to Article Archive Listing