Upcoming Classes




Please Take Notice: CFLA is a Business to Business Provider of Professional Auditing, Expert Witness, Training, and Legal Forms Service[s]. If You are a Consumer and You Need To Purchase An Audit This Office Will Provide You a List of Approved Providers to Purchase Your Services Directly.

"CFLA is one of the only business entities offering a one‐stop shop where an attorney can get education, pleadings, research and practice support in the field of foreclosure defense. The attorney networking opportunities provided by CFLA are very valuable."
—Charles Christmas, Esq. (Nevada)


 

Mortgage Securitization Analyst Training Certification Class December 16th & 17th, 2017 (Now Online)
Certified Forensic Loan Auditors Mortgage Securitization Anaylst Training Certification Class is a comprehensive 16-hour online intensive seminar. Students study and learn important topics related to Mortgage Securitization as well as complex analysis of how to obtain recorded documents. Trainees will complete (5) five full Mortgage Securitization Audits under the direct supervision of the Senior Auditor. Also covered are the complexities of form and substance related to Expert Witness Testimony and how to use your portfolio of Education and Experience to Educate Judges and Opposing Counsel on Securitization Issues, Chain of Title, and Robosigning. Graduates of the course will receive a Certificate of Completion having met the CFLA requirements necessary to be accredited as a Mortgage Securitization Analyst.
Learn More & Register

Student Testimonials.

Rising Housing Costs are Putting a Major Squeeze on Americans
livinglies.wordpress.com | June 18, 2017
Nearly 39 million households can’t afford their housing, according to the annual State of the Nation’s Housing Report from Harvard’s Joint Center for Housing Studies.
Read more

What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak
livinglies.wordpress.com | June 16, 2017
Since the financial crisis, home equity has gone from being America's biggest driver of (illusory) wealth to one of the biggest sources of economic inequality.
Read more

Lawsuits Claim Wells Fargo Modified Mortgages Without Customer Permission
The Washington Post | June 15, 2017
Wells Fargo is facing more accusations that it made unauthorized changes to customers accounts — this time to their mortgages.
Read more

Wells Fargo Is Accused of Making Improper Changes to Mortgages
The Washington Post | June 14, 2017
Even as Wells Fargo was reeling from a major scandal in its consumer bank last year, officials in the company’s mortgage business were putting through unauthorized changes to home loans held by customers in bankruptcy, a new class action and other lawsuits contend.
Read more

NYT: Wells Fargo Pattern of Filing False Documents with Federal Court
livinglies.wordpress.com | June 15, 2017
It’s nice to see Gretchen Morgenson back on the beat of financial fraud. We need more exposure to what everyone who has battling foreclosures already knows — that virtually all of the documents relied upon by would-be foreclosers are false, fraudulent, fabricated and forged. These revelations appear to be the only way judges will stop allowing presumptions of false facts to dominate their rulings.
Read more

Overcoming Res Judicata with the Law of Voids
Greg 'da Goose | May 28, 2017
EVERYTHING YOU ALWAYS WANTED TO KNOW ABOUT VOID JUDGMENTS BUT WERE AFRAID TO ASK!
Excerpts from VOID JUDGEMENT by Cornforth (215 pps). If you are caught in a situation where you are just learning how to defend yourself after a judgment has already been rendered in your case and you have discovered jurisdictional failures in the plaintiff’s case or worse, instances of fraud by the plaintiff or their attorneys to force the hand of the judge in the case to make an expedient or default judgment… consider these…
Read more

Most U.S. Homes are Worth Less than Before the Crash
livinglies.wordpress.com | May 6, 2017
You can't blame a homeowner in Fresno, Calif., for viewing the thriving metropolis to its northwest with both envy and dismay. While San Francisco home values have surged since the recession, Fresno's housing market is stuck in a rut. Less than 3% of homes in the city and its environs have returned to their pre‐recession peak, according to a new study from Trulia. Median home values are a teeth‐clenching $78,000 below their pre‐recession peak.
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Wells Fargo Targeted Undocumented Immigrants, Stalked Street Corners, Lawsuit Claims
Kristine Phillips | May 4, 2017
On "Hit the Streets Thursday," Wells Fargo bankers and tellers, specifically those of Latino descent, scouted the streets and Social Security offices for potential clients. Their goal: Find undocumented immigrants, take them to a local branch and persuade them to open bank accounts.
Read more

Resecuritization
livinglies.wordpress.com | March 7, 2017
As predicted on my blog back in 2008, we are seeing new names of Trusts emerge in foreclosure cases — involving old loans that were declared in default years ago by parties asserting they represent the alleged servicer of either a named bank or servicer or an old trust. What happened? As our sources had revealed, the alleged trusts had nothing in them and were the source of extreme liability of the Master Servicer acting as underwriter to the investors and third parties who traded in securities based upon the representation that the Trust actually owned the debts of millions of homeowners.
Read more

Citigroup’s Crime Spree Against Americans Continues With Slaps on the Wrist
livinglies.wordpress.com | February 14, 2017
Last week, the Consumer Financial Protection Bureau (CFPB) charged two units of the Wall Street mega bank, Citigroup, with insidious fraudulent acts against homeowners while it imposed a modest $28.8 million in relief and penalties. The penalty portion of $7.4 million is meaningless because this is a bank that serially breaks the law, laughs at its regulators, and, most outrageously, it was simultaneously engaging in heinous misdeeds against Americans while the U.S. government was using taxpayer money to bail out its failed business model of brazen financial frauds. The $7.4 million in fines also stands in contrast to the $14.9 billion that Citigroup reported as net income for 2016.
Read more

Governor Cuomo Announces $28 Million Fine Levied Against PHH Mortgage Corporation for Shoddy Mortgage Origination and Servicing Practices
stopforeclosurefraud.com | November 14, 2016
Governor Andrew M. Cuomo today announced that PHH Mortgage Corporation and its affiliate, PHH Home Loans LLC, will pay a $28 million fine and engage a third-party auditor as part of a consent order for violations of federal and New York laws designed to protect homeowners. The consent order between the two companies and the Department of Financial Services was reached following a series of examinations that uncovered persistent shortcomings in their mortgage origination and servicing practices, including discrepancies in how mortgage foreclosures were documented and processed.
Read more

False Claims by False Claimants
livinglies.wordpress..com | November 7, 2016
I recently had occasion to respond to an email regarding, as it turned out, understanding the way securitization actually worked, as opposed to what is shown on paper. The topic was "tender." This is what I wrote:
Why would you "tender" money to a party whose claim is obviously false?
Read more

Casting Doubt on Validity of Servicer Affidavits in Foreclosure Litigation
livinglies.wordpress.com | November 4, 2016
Most institutional lenders, trusts and large financial institutions that loan money to borrowers or acquire distressed loans use loan servicers to service their loans after the loans are originated or otherwise assigned to them. Loan servicing is the process by which a lender uses a third party to, among other things, collect principal, interest and escrow payments from the borrower in connection with a loan.
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Wells Fargo in Talks With Prosecutors Over Potential Mortgage Abuses
wsj.com | November 3, 2016
Wells Fargo & Co. is in talks with a group of federal and state prosecutors examining potential abuses related to mortgages as it continues to grapple with investigations and public outrage from its sales-practices scandal. The bank disclosed in its most recent quarterly securities filing posted Thursday that it is in discussions with the Residential Mortgage-Backed Securities Working Group of the Financial Fraud Enforcement Task Force. That group, which includes the Justice Department, has levied billions of dollars in fines on other big U.S. banks, including a $16.65 billion payout from Bank of America Corp. and $13 billion from J.P. Morgan Chase & Co.
Read more

Double Blind Foreclosure Scheme is Working for the Banks: States Quietly Resetting Title Across the Board
livinglies.wordpress.com | November 3, 2016
The plain fact is that if homes were fraudulently foreclosed based upon void fabricated instruments, the foreclosure itself is void. That is what is true under current law. But states like Massachusetts have passed legislation that most homeowners neither know about nor understand. Their rights to possession and title to property that is still legally owned by them (if current law was applied) are again being foreclosed legislatively. This completes the bank scheme in which the TBTF banks received a windfall "profit" in the trillions that really was a double blind fraudulent scheme. Both investors and homeowners alike are the victims while the TBTF banks are the victors.
Read more

CFLA Explains Quiet Title Audits

CFLA Explains Securitization Analysis

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics
livinglies.wordpress.com | October 28, 2016
A consortium of housing advocacy groups is calling on the U.S. Department of the Treasury, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau to investigate “pro-foreclosure campaigns,” which the groups say are being perpetrated by “Wall Street giants including the largest hedge funds, mortgage bond traders, and insurance companies.”
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Why the Mortgages Cannot Legally Be Enforced
livinglies.wordpress.com | August 30, 2016
From the point of view of Article 9 there can be no foreclosure of a mortgage without the party claiming rights under the mortgage showing that they purchased the mortgage for value.
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Are We Heading for Another Housing Crisis?
money.usnews.com | May 12, 2016
Ten years ago, a storm was brewing in the housing market. Lenders were handing out mortgages seemingly to anyone who applied, and in many cases, borrowers weren't asked for documentation to prove income. Some institutions rolled out adjustable-rate mortgages that featured teaser rates and were marketed to consumers as loans that could be easily refinanced before the interest rate was scheduled to reset and send payments into the stratosphere.
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California high court opens door to wrongful foreclosure suits
latimes.com | March 6, 2016
During the bust that followed last decade's housing boom, hundreds of thousands of Californians lost their homes to foreclosure. It was a process later found to be rife with problems, such as overwhelmed bank employees who sometimes didn't even read the foreclosure documents in front of them. But challenging foreclosures on the basis of paperwork problems proved to be mostly futile, given California courts had ruled that borrowers who weren't paying their mortgages didn't suffer financial harm.
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The Banks Business Model is Foreclosing on Homeowners
March 2, 2016
Securitization is the reason banks want homeowners to foreclose. When a bank assigns the risk of a loan to the investors (certificate holders) of a Real Estate Investment Conduit Trust (SPV), the “bank” is no longer a traditional bank that gets the benefit of mortgage payments. Mortgage banks give as few modifications as possible and comply minimally with statutes put in place to protect borrowers, all while employing tricks to “cash in” on homeowners’ defaults, pushing them to foreclosure.
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If You Received a New Mortgage or Refinance between 2005 and the Present Your Mortgage is Null and Void!
cfla.com | February 3, 2016
If you received a new mortgage or refinanced you old mortgage between 2005 and the present and your mortgage was securitized by the Wall Street banks, your mortgage is null and void! We have truth in lending laws and full disclosure laws that are supposed to be front and center at your real estate closing.
Read more

Goldman Sachs $5B Settlement in Favor of Homeowners
January 20, 2016
Find out if your home loan was securitized by Goldman Sachs during years 2005-2007 and thus subject to the $1.8b available for homeowners and consumers in the form of principal reduction or damages.
Read more

$5.4 Million! Jury Finds Wells Fargo Committed Fraud When It Used Robo-Signed Document
i-uv.com | December 14, 2015
Congratulations to the experts and attorneys on this. As Marie McDonnell states in the article reproduced below this case is important because it is the first time that Robo-signing has resulted in an award of damages for fraud. I would add that the lawyers must have done a fine job at trial — because ordinarily we don’t see jury instructions that would support punitive damages for robo-signing. The pages are turning on a new chapter.
Read more

 

Breaking News

NJ Appellate Court Decision Goes to Achilles Heel of "Securitizers"
livinglies.wordpress.com | October 30, 2017
“In order to have standing to foreclose a mortgage, a party ‘must own or control the underlying debt.'”
Read more

Banks Make Money on Settlements Too
livinglies.wordpress.com | October 30, 2017
If you are waiting for one of those “settlements” to mean something before your home goes up for auction, don’t hold your breath. Relief is not coming. The “simple” truth is that the investor is interested in the debt (i.e., the money owed by you) but everyone else is only interested in the paper. If you can absorb and accept this fact, you have a significantly improved your chance of successfully defending your home from foreclosure.
Read more

JPMorgan Chase and the Fed in Collusion: The National Mortgage Settlement Sham
livinglies.wordpress.com | October 19, 2017
Six years ago, in February 2012, JPM was fined $5.3 billion under the National Mortgage Settlement reached with Attorney General Eric Holder. It was one of those sweetheart deals that Holder cut over and over with the big banks — by imposing cost‐of‐doing‐business fines, instead of criminal charges, in keeping with his "too big to jail" policy.
Read more

MERS Unraveling
livinglies.wordpress.com | October 17, 2017
"Aside from the inappropriate reliance upon the statutory definition of "mortgagee," MERS's position that it can be both the mortgagee and an agent of the mortgagee is absurd, at best."— Judge Grossman, Federal Bankruptcy Court
Read more

BofA Coerces Homeowners Into Keeping Quiet About Their Victory
livinglies.wordpress.com | October 5, 2017
Most lawyers, most judges and most homeowners are under the mistaken impression that they cannot win a foreclosure battle. They don’t hear about all the homeowners who were successful. There are tens of thousands of them. Any news, like the $45 million verdict described in the article below, is squelched.
Read more

Illinois Trial Court Overruled: Rescission IS Effective
livinglies.wordpress.com | October 2, 2017
As usual, the trial judge wanted no part of TILA Rescission. In December, 2016 the appellate court said the failure of Beneficial to respond to TILA Rescission notice within 20 days made the rescission final and irrevocable — something I have been saying to nay-sayers for 10 years.
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How You Can Easily Research State Records For Evidence of Unremediated LPS Robo-Signing Fraud
livinglies.wordpress.com | September 26, 2017
Many of the banks conducting foreclosures 2008-2013 relied on a few large foreclosure mills to litigate cases for them, and still do. For large banks, it made sense–consolidate your cases with specialized firms employing dozens of attorneys/paralegals, one-stop shop the process. Most of these firms from 2008-2013 used a version of Lender Processing Services ("LPS") Desktop software program to create needed assignments for claimed holders of loans (Extra stress on the "claimed" part!).
Read more

"Harmless" Motion to Return Original Documents in Court File Might Yield Explosive Effects
livinglies.wordpress.com | September 22, 2017
The bottom line is that lawyers for the banks and servicers are using a device that looks harmless but creates a strong presumption that the original note exists, that the clerk of the court received it, and that it was apparently sent to the offices of the attorneys that represent the banks or servicers in foreclosure litigation. All this despite the fact that no original note was ever produced, shown, filed or admittted into evidence.
Read more

Now It's Fabricated or Unenforceable Student Loans
livinglies.wordpress.com | September 21, 2017
The CFPB laid down some serious fines on National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, Inc. The firms were collectively ordered to pay $26.1 million for attempting to collect on loans that were at best out of date and at worst nonexistent.
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Back Them Into a Corner — Request for Admissions
livinglies.wordpress.com | September 20, 2017
As part of my consultation on a case involving PennyMac and Citi, I suggested a strategy (see below) using the procedural route of a Request for Admissions. If not answered, the requests are deemed admitted — which in most cases will completely undermine the foundation for any of the evidecne proffered by the foreclosing party. If admitted, the same result applies. If denied, you have something to ask for in further discovery. If objections are filed then the lawyer must be prepared with cases, statutes and treatise authority to back up his claim that he—she is entitled to the information and that without it the trial will be a sham.
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The Transferring of Servicing Rights to Avoid Reviewing Complete Modification Application
livinglies.wordpress.com | September 15, 2017
After years of litigating against alleged lenders, investors, servicers, and foreclosure trustees we are starting to see a clear trend of the servicing rights being transferred upon receiving a complete loan modification application. What is an alleged lender – this is usually the party that claims to have funded the original loan or the originator.
Read more

Mortgage Fraud: $500b of 'Liar Loans' in Australia, Warns Investment Bank UBS
ABC News | September 12, 2017
Up to a third of Australian mortgages could be "liar loans" based on factually inaccurate information, investment bank UBS has warned.
Read more

Attack the Legal Presumptions
livinglies.wordpress.com | September 7, 2017
There is a simple rule to keep in mind. If you win on the discovery requests, you are on your way to a successful conclusion for the homeowner. The 2015 amendment to Rule 34 of the Federal Rules of Civil Procedure essentially bars the use of blanket objections.
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Challenge Blanket Objections to Discovery
livinglies.wordpress.com | August 29, 2017
There is a simple rule to keep in mind. If you win on the discovery requests, you are on your way to a successful conclusion for the homeowner. The 2015 amendment to Rule 34 of the Federal Rules of Civil Procedure essentially bars the use of blanket objections.
Read more

Fannie and Freddie Foreclose on Almost 16,000 Homes in May, Almost 4 Million Since 2008
livinglies.wordpress.com | August 8, 2017
Fannie Mae and Freddie Mac wrapped up 15,683 foreclosure prevention actions in May, according to the Federal Housing Finance Agency (FHFA) May Foreclosure Prevention Report. This brings the total number of foreclosure prevention actions to 3,914,668 since the inception of the conservatorships back in September 2008.
Read more

Wells Fargo has Ripped Off Veterans, Auto Loan Customers and Homeowners: The Feds Do Nothing.
livinglies.wordpress.com | August 8, 2017
New legal challenges are piling up for Wells Fargo as the U.S. banking giant tries to rebuild trust with customers and investors after a scandal over millions of unauthorized accounts.
Read more

Timothy Howard on Fannie Mae and Freddie Mac: A Pattern of Deception
livinglies.wordpress.com | August 4, 2017
On July 19, Judge Margaret Sweeney unsealed 33 additional documents produced in discovery for the lawsuit brought by the Fairholme Funds in the U.S. Federal Court of Claims. They were made available to the public early last week.
Read more

6th Circuit: No Waiver of Due Care and Fair Dealing
livinglies.wordpress.com | August 3, 2017
This court has again returned us to the rule of law. You can’t screw up and then blame the victim for the problem or even allow the victim to suffer the damages.
Read more

Trump's Nominee for OCC Post Meets Resistance Due to One West Fraud Settlement
livinglies.wordpress.com | July 31, 2017
"Cold and calculating and not willing to take the tiniest bit of responsibility" is how federal whistleblower Sandra Jolley describes Joseph Otting, President Donald Trump's pick for comptroller of the currency, the nation's chief bank regulator.
Read more

Mich. Foreclosure Law is 'gov't‐sanctioned thieving'
livinglies.wordpress.com | July 22, 2017
The Supreme Court of the United States (SCOTUS) is being petitioned by several small property owners in Michigan who argue that they were victimized by the state's abusive foreclosure law that allows the local government to steal their property and make hundreds of thousands of dollars in profit off of them.
Read more

Billions in Student Debt could Disappear Because of Lost Paperwork
livinglies.wordpress.com | July 19, 2017
The latest example of America’s legal system being a total circus might actually help you out–if it doesn’t swindle you over first.
Read more

More Trump Populism: Hiring a Bank Lawyer to Attack CFPB Bank Rules
livinglies.wordpress.com | July 21, 2017
President Trump and Republicans in Congress have broadcast their every intention to gut the Consumer Financial Protection Bureau. The president's budget attempted to defund it and leading Republicans have called for its director to be fired and replaced with a more Wall Street-compliant regulator.
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Ocwen to Shell Out $56 Million in Class-Action Settlement
livinglies.wordpress.com | July 21, 2017
Ocwen Financial Corporation (NYSE: OCN) on Thursday announced that has reached a $56 million settlement over a federal class-action lawsuit, the latest in a line of issues for the troubled servicer.
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NY Times: Student Debt Getting Wiped Out by Fraudulent Claims of Securitization
livinglies.wordpress.com | July 18, 2017
So here is an example of why you need to send a DVL (Debt Validation Letter). It turns out that mainstream media and the court system are much more willing to get into bank fraud as to students than they were when it came to homeowners. The facts are the same.
Read more

As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away
The New York Times | July 17, 2017
Tens of thousands of people who took out private loans to pay for college but have not been able to keep up payments may get their debts wiped away because critical paperwork is missing.
Read more

A Shocking Number of Americans Live in Housing They Can't Afford, According to Harvard Study
livinglies.wordpress.com | July 16, 2017
According to new research by Harvard University, almost 40 million Americans “live in housing they cannot afford.” Homeownership has gone down and rental prices keep going up, meaning that millions of residents are forced to pay more than they reasonably should.
Read more

Massive new fraud coverup: How Banks are Pillaging Homes — While the Government Watches
salon.com | April 23, 2014
Joseph and Mary Romero of Chimayo, N.M., found that their mortgage note was assigned to the Bank of New York three months after the same bank filed a foreclosure complaint against them; in other words, Bank of New York didn't own the loan when they tried to foreclose on it.
Read more

Why the Justice Department Fails to Prosecute Executives Hardcover — July 11, 2017
livinglies.wordpress.com | July 12, 2017
Pulitzer Prize‐winning journalist Jesse Eisinger paints a blistering account of corporate greed and impunity, and the reckless and anemic response from the Department of Justice and Department of Treasury where penalties and fines were only implemented to create the illusion of enforcement.
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6th Cir. Bankruptcy Panel Holds Foreclosure Deficiency Judgment May Be Avoided
livinglies.wordpress.com | July 11, 2017
The Bankruptcy Appellate Panel of the U.S. Court of Appeals for the Sixth Circuit recently held that a mortgage foreclosure deficiency judgment lien may be avoided under 11 U.S.C. § 522(f)(2), reversing the bankruptcy court's ruling to the contrary.
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It's About to Get a Lot Easier to Sue Your Bank for Screwing You Over — Unless the Republicans Kill the New Regulation
livinglies.wordpress.com | July 11, 2017
It's almost unheard of for the federal government to ban anything done by Wall Street bankers. Maybe the feds ask for banks to provide more disclosure or somehow limit a particularly onerous practice. But a ban, especially in this new era of industry friendliness ushered in by Donald Trump? Yeah, right.
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Florida Court Rules Bank of America Must Pay Homeowner 6 Years of Attorney Fees on Dismissed Foreclosure Lawsuit
(PR NewsChannel) | June 16, 2016
PALM BEACH Fla. — America's most‐hated bank lost back‐to‐back court motions on Friday when a judge ordered Bank of America Corporation (NYSE:BAC) to pay Author TJ Fisher's 2009‐2014 attorney fees on a dismissed foreclosure lawsuit. The bank's bill is expected to total more than $60,000, court documents reflect. The Goliath bank's recent court loss is unlikely to garner much public sympathy, according to national polls and indexes. The bank consistently tops the list as one of the country's most despised banks and companies.
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Proof of Standing Required: Seffar v. Residential Credit Solutions Inc
livinglies.wordpress.com | July 5, 2017
It is NOT enough to ALLEGE standing. They must PROVE it. Judges across the country are making mistakes with this simple concept. Standing to SUE is presumed if you allege (in words or by incorporation of exhibits) that you have it. Possession of the “original note” can be alleged but at trial the foreclosing party must PROVE (not argue) that (1) they have the original note and (2) they have the right to enforce it either because they own it or because they have been authorized by a person who owns it or a person who has the right to enforce it.
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HSBC in Talks with US to End Crisis-Era Mortgage Probe
Bloomberg | July 5, 2017
HSBC Holdings Plc is in talks to resolve a US probe into its sale of toxic mortgage bonds a decade ago, according to people familiar with matter, a negotiation that could offer an early look at how the Trump Justice Department will deal with global banks.
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Morgan Stanley nears $400 Million in Consumer Relief for Mortgage Bond Settlement
livinglies.wordpress.com | July 5, 2017
Morgan Stanley is nearly finished with its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year.
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10th Circuit Challenges SCOTUS on TILA Rescission — Pohl v US Bank, "Trustee"
livinglies.wordpress.com | July 3, 2017
”Courts are still inventing doctrine out of whole cloth allowing banks to escape liability and responsibility for their wrongful acts. This decision is so far off the charts that it will most certainly be reversed.”
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Recent Case Decision Summaries
livinglies.wordpress.com | June 28, 2017
Excerpted case summaries relevant to foreclosure:
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MERS and Securitization
by Neil Garfield | June 27, 2017
Investors and borrowers were thus left in a transaction they didn’t know existed and without any documentation to show for it. MERS was essential to fill that void with the creation of fabricated written instruments that appear to be facially valid.
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Supreme Court Remands Quicken Loans Lawsuit
by Kyla Asbury | June 27, 2017
Following a five‐day trial in Raleigh Circuit Court, a jury found Quicken Loans violated the illegal loan provision of the West Virginia Residential Mortgage Lender, Broker & Servicer Act in originating a primary mortgage loan for Sue Walters and was liable to her for damages in the amount of $27,000. The jury found in favor of Quicken Loans on Walters' claim of fraud and further found that Quicken Loans had not acted with malice.
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Film Review: 'Abacus: Small Enough to Jail'
by Erin Teachman | June 26, 2017
The fallout of the financial crisis is still being thrashed out in full public view, which makes for a terribly difficult documentary subject; we are a long way from knowing where most of it actually ends. Steve James, the documentarian behind The Interrupters, Life Itself, and Hoop Dreams, has found a tiny self‐ contained story inside the vast umbrella of the financial crisis that only recently found a conclusion: the travails of the Sung family, the owners and operators of Abacus Federal Savings Bank, a small bank servicing the Chinese immigrant community in New York City.
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Detroit Against Foreclosures & For Housing for People, not Banks
by Jerry Goldberg | June 26, 2017
A public forum on June 17 addressed the continuing tax foreclosure crisis in Detroit that has left thousands of families facing imminent eviction from their homes. The forum was organized by the Coalition to Stop Unconstitutional Property Tax Foreclosures, composed of many community groups including the Moratorium Now! Coalition, Detroit BYP100, the Detroit People's Platform, the United Community Housing Coalition and the American Civil Liberties Union.
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Foreclosure Prevention is Paying Off Claim the GSEs
livinglies.wordpress.com | June 25, 2017
The GSEs claim to have prevented more than 49,000 foreclosures in the first quarter, an increase of nearly 5,000 preventions compared to Q4, according to the Federal Housing Finance Agency's Q1 Foreclosure Prevention Report. Unfortunately, the majority of these loans that were prevented from being foreclosed upon were held by parties that had no evidence of standing or ownership, and therefore had no right to negotiate.
Read more

Rising Housing Costs are Putting a Major Squeeze on Americans
livinglies.wordpress.com | June 18, 2017
Nearly 39 million households can’t afford their housing, according to the annual State of the Nation’s Housing Report from Harvard’s Joint Center for Housing Studies.
Read more

What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak
livinglies.wordpress.com | June 16, 2017
Since the financial crisis, home equity has gone from being America's biggest driver of (illusory) wealth to one of the biggest sources of economic inequality.
Read more

Lawsuits Claim Wells Fargo Modified Mortgages Without Customer Permission
The Washington Post | June 15, 2017
Wells Fargo is facing more accusations that it made unauthorized changes to customers accounts — this time to their mortgages.
Read more

Wells Fargo Is Accused of Making Improper Changes to Mortgages
The Washington Post | June 15, 2017
Even as Wells Fargo was reeling from a major scandal in its consumer bank last year, officials in the company’s mortgage business were putting through unauthorized changes to home loans held by customers in bankruptcy, a new class action and other lawsuits contend.
Read more

NYT: Wells Fargo Pattern of Filing False Documents with Federal Court
livinglies.wordpress.com | June 15, 2017
It’s nice to see Gretchen Morgenson back on the beat of financial fraud. We need more exposure to what everyone who has battling foreclosures already knows — that virtually all of the documents relied upon by would-be foreclosers are false, fraudulent, fabricated and forged. These revelations appear to be the only way judges will stop allowing presumptions of false facts to dominate their rulings.
Read more

$25 Billion Robo Signing Settlement Deal – Get Your Money
Robo signing? Single point of contact? Foreclosure moratorium? These things almost seem like distant past but listen in as we discuss the $25 BILLION settlement the big 5 servicers just signed and how it will impact you.
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Document Forgery in Financial Industry More Common than You'd Think, Past Employees Say
livinglies.wordpress.com | May 31, 2017
Requiring proof from the foreclosing party without legal presumptions would reverse many if not most foreclosures.
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The Money Trail vs. The Paper Trail Review
livinglies.wordpress.com | May 28, 2017
by KK MacKinstry/Lendinglies.com
Homeowners trying to receive evidence of the money trail are stonewalled from obtaining the documents that would help them to prove their case and prevail. Discovery is often blocked on ordinary grounds or on the basis of relevance. Therefore Discovery must be executed with precision, caution and as part of the record. Both the money trail and the paper trail matter, but revealing the money trail is much more difficult because in that discovery lies the smoking gun.
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Overcoming Res Judicata with the Law of Voids
Greg 'da Goose | May 28, 2017
EVERYTHING YOU ALWAYS WANTED TO KNOW ABOUT VOID JUDGMENTS BUT WERE AFRAID TO ASK! Excerpts from VOID JUDGEMENT by Cornforth (215 pps).
If you are caught in a situation where you are just learning how to defend yourself after a judgment has already been rendered in your case and you have discovered jurisdictional failures in the plaintiff’s case or worse, instances of fraud by the plaintiff or their attorneys to force the hand of the judge in the case to make an expedient or default judgment… consider these…
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PMI Insurance: Coverage, Overcharges, Kickbacks and Maybe a Duty to Mitigate Losses — and Article 3 Standing in a Nutshell
Posted by Neil Garfield | May 24, 2017
Insurance was one of the vehicles by which borrowers were used to create "fees" that were "kicked back" essentially to the Lender or a controlled entity of the Lender. Besides the obvious violation of RESPA, I see another hidden issue — the duty to mitigate damages imposed on all "injured parties."
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David Dayen: Why Trump Didn't Have to Obstruct Justice: The US No Longer Holds the Powerful Accountable
livinglies.wordpress.com | May 24, 2017
Administration is in crisis. Successive scandals related to possible collusion with Russia and obstruction of justice have put talk of impeachment in the air. Beyond those parallels to Nixon, anti‐Trumpers are giddy about the legal pressures building on Michael Flynn, Paul Manafort and a "person of interest" inside the White House, who knowledgeable people assume to be son‐in‐law/senior undersecretary for everything Jared Kushner.
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The Housing Moment Investors Dread is Here
Posted by Neil Garfield | May 20, 2017
By Danielle DiMartino Booth
Amid the carnage in the auto sector, economists have sought solace in the comforts of home, sweet home. A recent Census release suggests that Millennials, long sidelined, have finally started to tiptoe into the home-buying market. The reception to the data was so effusive that other reports, suggesting housing has reached a much different sort of turning point, were lost in the fray.
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Mortgage Crisis 2.0: BofA CEO Wants to Slash Down Payments to Help Poor Millennials
livinglies.wordpress.com | May 20, 2017
Among a host of other issues, one of the critical things that contributed to the housing crisis of 2008 was the fact that speculative borrowers had nearly no “skin in the game.” Anyone who decided they wanted a piece of the rapidly inflating housing bubble could go out and buy multiple houses with no money down or, in some cases, even do “cash out” purchases whereby banks would finance more than 100% of the purchase price leaving ‘buyers’ to pocket the excess.
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Fifth Circuit Confirms that Constitutionally Non-Compliant Home Equity Liens are Invalid and that No Statute of Limitations Applies to a Quiet Title Action Alleging Such Violations
Posted by Kane Russell Coleman Logan PC / The Law of Banking
USA | May 18, 2017
The Fifth Circuit recently confirmed that lenders and/or servicers cannot raise the statute of limitations as a defense where borrowers claim that a home equity loan fails to comply with the Texas Constitution. In Ocwen Loan Servicing v. Robert M. Berry, the Fifth Circuit vacated and remanded a summary judgment granted in favor of Ocwen Loan Servicing (“Ocwen”) in relation to a Texas home equity loan.
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Fannie, Freddie Cut Mortgage Modification Interest Rate for First Time in 2017
livinglies.wordpress.com | May 17, 2017
After four months of leaving the benchmark interest rate for standard mortgage modifications (not including HAMP mods) at an 18-month high, Fannie Mae and Freddie Mac recently announced that they are cutting the benchmark rate.
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Faux Housing Recovery: US Mortgage Applications Tumble Most Since 2016
livinglies.wordpress.com | May 17, 2017
After dismal housing starts and permits data yesterday, the ‘housing recovery’ narrative took another knock this morning as strong>mortgage applications tumbled 4.1% last week – the biggest drop since December 2016. If the Fed raises rates in June- there will be a further contraction.While mortgage rates were unchanged, both purchases and refis fell notably…
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Default, Foreclosure and the Impact on Physical and Mental Health Function
livinglies.wordpress.com | May 15, 2017 by K.K. MacKinstry/LendingLies Blog
Neuroscientists have concluded that chronic stress and cortisol damage the brain. Although there are no formal studies to date on the health ramifications of default, prolonged litigation, and post-foreclosure trauma, it would be safe to conclude that people who are exposed to chronic stress over an extended period of time are prone to mental issues like anxiety and mood disorders as well as physical illnesses. The most common mental disorders in protracted litigation are post-traumatic stress disorder, anxiety and depression that unfortunately result in altered brain structure and chemistry.
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Connecticut Issues Cease-And-Desist to Loan Servicing Company
by Kenneth R. Gosselin / Hartford Courant| May 8, 2017
Ocwen Loan Servicing has been hit with temporary cease-and-desist orders by Connecticut and 24 other states for failing to properly manage home loan escrow accounts that set aside funds for payment of property taxes and insurance. State banking regulators in Connecticut have accused Ocwen, a major loan servicer across the country, of not properly managing escrow accounts, which include making tax and insurance payments.
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Most U.S. Homes are Worth Less than Before the Crash
livinglies.wordpress.com | May 6, 2017
You can't blame a homeowner in Fresno, Calif., for viewing the thriving metropolis to its northwest with both envy and dismay. While San Francisco home values have surged since the recession, Fresno's housing market is stuck in a rut. Less than 3% of homes in the city and its environs have returned to their pre‐recession peak, according to a new study from Trulia. Median home values are a teeth‐clenching $78,000 below their pre‐recession peak.
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CitiFinancial, CitiMortgage To Pay $28.8M Over Mortgage Servicing Issues
by Neil Garfield / livinglies.com| May 6, 2017
Millions of consumers lost their homes when the housing market bubble burst. But federal regulators say some of those people may have been able to stay in their homes had mortgage lenders fulfilled their requirements. To that end, the Consumer Financial Protection Bureau has ordered two Citigroup subsidiaries to pay $28.8 million to resolve allegations that some of its mortgage units harmed home borrowers.
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Hang On! More Properties Underwater in the First Quarter: Attom
by Neil Garfield / livinglies.com| May 5, 2017
Seasonal factors contributed to an 89,000‐unit increase in the number of seriously delinquent properties in the first quarter from the fourth quarter of 2016. The quarter ended with nearly 5.5 million homes seriously underwater, compared with 5.4 million at the end of the fourth quarter and 6.7 million for the first quarter of 2016.
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Flint Sends Foreclosure Notices to 8,000 Residents Who Refused to Pay for Contaminated Water
livinglies.wordpress.com| May 4, 2017
The ongoing saga of lead‐contaminated water in Flint, Michigan, got yet another layer on May 4, when 8,002 residents received foreclosure notices for failure to pay their water bills, according to the Washington Post. The notices came a few weeks after the city ended a program that assisted residents in paying bills for their contaminated water.
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Wells Fargo Targeted Undocumented Immigrants, Stalked Street Corners, Lawsuit Claims
Kristine Phillips | May 4, 2017
On "Hit the Streets Thursday," Wells Fargo bankers and tellers, specifically those of Latino descent, scouted the streets and Social Security offices for potential clients. Their goal: Find undocumented immigrants, take them to a local branch and persuade them to open bank accounts.
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Cities May Sue Banks Over Foreclosure, Industry Reacts
by Neil Garfield / livinglies.com | May 1, 2017
Author: Seth Welborn In a 5-3 decision on Monday, the U.S. Supreme Court determined that cities can sue banks over lost tax revenue on foreclosed properties from urban blight. Law360 reported that Miami has the standing to sue Bank of America Corp. and Wells Fargo & Co. under the Fair Housing Act, stating that the banks' discriminatory and predatory lending practices led to a major shortfall in city tax revenues.
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GSE Bill would allow Homeowners to submit FOIAs to Fannie and Freddie while under Federal Conservatorship
by K. K. MacKinstry.com | April 25, 2017

Anyone who is trying to find out information about the trust ownership of their loan, knows that if Fannie Mae or Freddie Mac are involved- your research hits a stone wall.
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Powell v. Wells Fargo: The Party Seeking Foreclosure must Demonstrate that it has Standing to Foreclose
livinglies.wordpress.com | April 25, 2017
In this case the Bank was required to prove a chain of transfers starting with the indorsee, GreenPoint Mortgage to the current servicer. The Bank failed to prove the series of transactions through which it purportedly acquired the note from the indorsee and the judge ordered an involuntary dismissal. However, because this is Florida and statute of limitations are not upheld, it is likely that Wells Fargo will have time to regroup, create a new strategy, and file to foreclose again on the tortured homeowners.
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Hearsay Trap for Borrowers
Livinglies.com | April 12, 2017

This case shows that hearsay evidence is admitted as long as it is a bank claiming an exemption.
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Wells Fargo Former Execs to Repay 75m in Bonuses but Bypass Criminal Charges Apply
livinglies.wordpress.com | April 11, 2017

Former CEO John Stumpf (a major crook in the subprime scandal) was previously fined $41m out of the $200m he made overseeing a complex fraud scheme that stole the identities of over 2,000,000 Wells Fargo customers –– and will now have to repay another $28m, but will not face criminal charges.
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Deutsche Bank Survives on Investor Life-Support
livinglies.wordpress.com | April 11, 2017
Deutsche Bank announced that it will create more shares and sell them at a 35% discount. Existing shareholders are not happy and in the first four days since the offer was announced, the value of existing shares dropped by 13% as shareholders began sharing off their shares.
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Plaintiffs Challenge Federal Judge's Ruling of res judicata in Foreclosure Case
by Nicholas Malfitano | April 10, 2017
On Feb. 27, Judge Cynthia M. Rufe of the U.S. District Court for the Eastern District Court of Pennsylvania ruled to dismiss the federal litigation brought forward by plaintiffs Kathleen and Harry Keyser against defendants Stern & Eisenberg P.C., Edward J. Donnelly, Christina C. Viola, Ocwen Loan Servicing, LLC, Francis S. Hallinan and U.S. Bank National Association.
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New York Law: New Requirement on Lenders in Foreclosure Process Is Constitutional
New York Law Journal | April 08, 2017

A new law in New York that says lenders' legal representatives must bring all the necessary documentation to foreclosure settlement conferences with mortgage holders has been upheld by a judge.
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New York Judge finds foreclosure time-barred and cancels Mortgage
livinglies.wordpress.com | April 01, 2017
Unlike Florida where there is no statue of limitations and every missed mortgage payment resets the clock, New York enforces the statute of limitations for debt collection including mortgages.
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Resecuritization
livinglies.wordpress.com | March 7, 2017
As predicted on my blog back in 2008, we are seeing new names of Trusts emerge in foreclosure cases — involving old loans that were declared in default years ago by parties asserting they represent the alleged servicer of either a named bank or servicer or an old trust. What happened? As our sources had revealed, the alleged trusts had nothing in them and were the source of extreme liability of the Master Servicer acting as underwriter to the investors and third parties who traded in securities based upon the representation that the Trust actually owned the debts of millions of homeowners.
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Citigroup’s Crime Spree Against Americans Continues With Slaps on the Wrist
livinglies.wordpress.com | February 14, 2017
Last week, the Consumer Financial Protection Bureau (CFPB) charged two units of the Wall Street mega bank, Citigroup, with insidious fraudulent acts against homeowners while it imposed a modest $28.8 million in relief and penalties. The penalty portion of $7.4 million is meaningless because this is a bank that serially breaks the law, laughs at its regulators, and, most outrageously, it was simultaneously engaging in heinous misdeeds against Americans while the U.S. government was using taxpayer money to bail out its failed business model of brazen financial frauds. The $7.4 million in fines also stands in contrast to the $14.9 billion that Citigroup reported as net income for 2016.
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What is the CFPB and what does it offer consumers?
livinglies.wordpress.com | February 14, 2017
The new Presidential administration will soon dissect the Dodd-Frank Act, a group of regulations the Obama administration developed in response to the 2008 financial crisis. Some political analysts expect them to disband the Consumer Financial Protection Bureau (CFPB). So what exactly is it, and what does it do for consumers?
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What is the CFPB and what does it offer consumers?
livinglies.wordpress.com | February 14, 2017
The new Presidential administration will soon dissect the Dodd-Frank Act, a group of regulations the Obama administration developed in response to the 2008 financial crisis. Some political analysts expect them to disband the Consumer Financial Protection Bureau (CFPB). So what exactly is it, and what does it do for consumers?
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Can you really call it a loan when the money came from a thief?
livinglies.wordpress.org | February 8, 2017
The banks were not taking risks. They were making risks and profiting from them. Or another way of looking at it is that with their superior knowledge they were neither taking nor making risks; instead they were creating the illusion of risk when the outcome was virtually certain.
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Trump’s Treasury pick says his bank didn’t ‘robo-sign.’ These court papers say it did.
thinkprogress.org | February 8, 2017
Before he was picked by President Trump to lead the Treasury Department, Steve Mnuchin ran a bank named OneWest, which foreclosed on tens of thousands of homeowners under his leadership. After his Senate hearing, he was asked specifically about the practice of robo-signing, which entails mortgage officials rapidly signing off on hundreds or thousands of foreclosure documents without verifying that the information is accurate or giving it a thorough review as required by law. Thus a bank can speed up the foreclosure process and, in some cases, get courts to let it take possession of a property with a full trial.
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THE BIGGER PICTURE: Foreclosure fight
fltimes.com | February 8, 2017
In 1998, Leanne Labadee bought a three-unit home on Ogden Street in Penn Yan for $75,000. The 50-year-old faithfully paid her mortgage every month, the majority of the time with money orders. She never missed a payment.
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RESCISSION: It’s time for another slap on the wrist for state and federal judges
livinglies.wordpress.org | February 6, 2017
50 years ago Congress decided to slap punitive measures on lenders who ignore or attempt to go around (table-funded loans) existing laws on required disclosures --- instead of creating a super agency that would review every loan closing before it could be consummated. So it made the punishment so severe that only the stupidest lenders would attempt to violate Federal law. That worked for a while --- until the era of securitization fail. (Adam Levitin's term for illusion under the cloak of false securitization).
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Are mortgage-backed securities backed by any guarantees?
tradebuddy.online.com | January 31, 2017
Actually, any mortgage-backed security (MBS) guarantee depends on who issued it. To review, an MBS is a security, created through the process of securitization, in which the underlying assets are loans made to individuals and companies who are using the funds to purchase buildings and homes. The mortgages are secured to the lender by the properties purchased by the borrowers and are often backed by some form of homeowners’ insurance. However, this insurance will only protect the issuer of the mortgages (mortgagee), and not the owners of an MBS that is issued using the same underlying mortgage. Therein lies part of the risk to MBS investors.
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TILA RESCISSION: Who Pays the Money?
livinglies.wordpress.com | January 31, 2017
The menu of items that are due to the borrower as a condition precedent to making a claim for repayment is expansive and frankly in many cases is equivalent or nearly equivalent to the total amount of the principal claimed as loan repayment.
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Federal Reserve Bankers Mocked Unemployed Americans Behind Closed Doors
theintercept.com | January 29, 2017
In 2011, unemployment was at a near crisis level. The jobless rate was stuck around 9 percent nationally, an unusually high number due to the continuing effects of the financial crash. House Democrats were aghast. “With almost five unemployed Americans for every job opening, too many people remain jobless because of a lack of work, not a lack of wanting to work,” said Congressman Lloyd Doggett, D-Tex. So in early November 2011, they introduced a bill to reauthorize Federal unemployment benefits, an insurance program designed to aide those looking for work.
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ServiceLink fined $65 million for LPS foreclosure deficiencies
housingwire.com | January 26, 2017
In 2011, Lender Processing Services was part of a massive settlement with the government over industry-wide foreclosure misconduct that occurred after the housing crash. That settlement stemmed from document missteps in the third-party foreclosure process at some very large banks and mortgage servicers in the aftermath of the subprime crisis.
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Mnuchin Lied About His Bank’s History of Robo-Signing Foreclosure Documents
theintercept.com | January 26, 2017
Treasury secretary nominee Steven Mnuchin lied in his written responses to the Senate Finance Committee, claiming that “OneWest Bank did not ‘robo-sign’ documents,” when ample evidence proves that they did. Mnuchin ran OneWest Bank from 2009 to 2015 in a manner so ruthless to mortgage holders that he has been dubbed the “Foreclosure King” by his critics.
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Citi Plan to Force foreclosures Exposed and Fined $29 Million
livinglies.wordpress.org | January 25, 2017
This is one instance in which the industry practice of tricking borrowers into foreclosure becomes crystal clear. The case is also instructive on the terms of so-called "modifications." The goal in all instances is to use every means at their disposal to trick the borrower into waiving rights and falling into the abyss of foreclosure without any appropriate disclosures.
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CHECKLIST — FDCPA Damages and Recovery: Revisiting the Montana S Ct Decision in Jacobson v Bayview
livinglies.wordpress.org | January 20, 2017
What is unique and instructive about this decision from the Montana Supreme Court is that it gives details of each and every fraudulent, wrongful and otherwise illegal acts that were committed by a self-proclaimed servicer and the "defective" trustee on the deed of trust. You need to read the case to see how many different times the same court in the same case awarded damages, attorney fees and sanctions against Bayview who persisted in their behavior even after the judgment was entered.
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Western Union to Pay $586 Million in US Fraud Settlement
databreachtoday.com | January 20, 2017
Western Union will pay $586 million to settle U.S. civil and criminal cases that alleged the company turned a blind eye for years to criminals who used its money transfer network to commit fraud. In one of the most serious accusations, the Department of Justice alleged that Western Union knew for at least five years that its agents were accommodating funds transfers connected with human smuggling.
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Moody’s Settlement with SEC Does Nothing for Homeowners
livinglies.wordpress.org | January 20, 2017
These settlements are a slap in the face to homeowners who were forced into battle with an over-reaching enemy supported by the government. We have acknowledgements of wrongdoing here by Moody's with respect to injury suffered by investors. But if the homeowners were not signing the false documents (the "loan contract") there would have been no "loans" and there would be no "derivatives", i.e., "securities" deriving their value from inactive or nonexistent trusts who issued certificates masked as "mortgage bonds."
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Harmed by Navient? What student loan borrowers need to know
usatoday.com | January 20, 2017
The U.S. Consumer Financial Protection Bureau is suing Navient Corp., the nation’s largest student loan servicer, accusing it of “systematically and illegally failing borrowers at every stage of repayment,” according to a press release Wednesday. The CFPB is asking Navient to compensate the borrowers the agency says were harmed.
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True Costs Of Foreclosure, Property Abandonment Extend Across Neighborhoods And Communities
finance.yahoo.com | January 17, 2017
CLEVELAND, Jan. 17, 2017 /PRNewswire/ -- A groundbreaking analysis of the true costs associated with the nation's housing crisis quantifies for the first time the substantial and numerous impacts foreclosures and vacant and abandoned properties have on homeowners and their communities. Even based on conservative estimates, the typical foreclosed home imposes costs of more than $170,000, according to a study commissioned by Community Blight Solutions and its Founder & Chairman, Robert Klein.
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Lawsuit Seeking Disgorgement Might Not Be Barred by Statute of Limitations
livinglies.wordpress..com | January 15, 2017
What is apparent here is that the Courts are coming to terms with the possibility that those relying upon a statute of limitation as a defense to various claims might NOT be protected by an otherwise applicable statute of limitations. The premise enunciated in a decision that seeks affirmation from the U.S. Supreme Court, is that disgorgement is not monetary damages or a penalty. It is an equitable finding that a party has been unjustly enriched and therefore has no present right to hold onto ill-gotten gains. The decision could result in elimination of the statute of limitations as a defense for the banks.
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California Attorney General's Office Announces $150 Million Settlement with Financial Services Company Moody's For Inflating Mortgage-Backed Securities Ratings
highlandnews.net | January 15, 2017
LOS ANGELES – Acting Attorney General Kathleen A. Kenealy, along with the U.S. Department of Justice and the attorneys general of 20 other states and the District of Columbia, today announced an $863.8 million settlement with Moody's Corporation (Moody's), a business and financial services company, to resolve federal and state civil claims related to the company’s misconduct in inflating ratings of residential mortgage-backed securities.
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Chase-WAMU Letter Reveals "Expungement" and "Assignments" of Alleged Mortgages Not on the Books and Records of WAMU
livinglies.wordpress..com | January 11, 2017
There is an old saying on Wall Street that "Bulls make money, Bears make money but Pigs never do." The obvious circumstances of Chase claiming ownership to nonexistent loan portfolios contained within WAMU coupled with the admission in this letter to the FDIC, shows just how arrogant Chase felt when they informed the FDIC that they wanted to get paid by the FDIC for expunging documents and fabricating other instruments for "loans" that were not on the books and records of WAMU at the time of their purchase and sale agreement wherein Chase acquired the WAMU estate.
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MERS/GMAC Note and Mortgage Discharged
livinglies.wordpress..com | January 10, 2017
If only all courts would entertain the possibility that everything presented to them should be the subject of intense scrutiny, 90%+ of all foreclosures would have been eliminated. Imagine what the country would look like today if the mortgages and fraudulent foreclosures failed.
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Steve Mnuchin’s Bank 'Robo-Signed' 6,000 Foreclosures a Week
forward.com | January 7, 2017
Steve Mnuchin’s financial skeletons could come back to haunt him as he tries to win confirmation as President-elect Donald Trump’s Secretary of the Treasury. A leaked memo from the California Attorney General’s office that alleges his bank routinely violated the state’s laws in foreclosing on homes.
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Fannie Mae Announces New Foreclosure Prevention Program
fanniemae.com | January 7, 2017
WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today its Flex Modification foreclosure prevention program, which is designed to help America’s families by offering reductions to their monthly mortgage payments. The Flex Modification leverages components of Fannie Mae’s Home Affordable Modification Program (HAMP®), which is set to expire at the end of this year, and the Fannie Mae Standard and Streamlined Modifications, which will be replaced by the Flex Modification in late 2017.
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Letters From The Editor

Navient lawsuit: what student loan borrowers need to know
huffingtonpost.com | February 12, 2017
The U.S. Consumer Financial Protection Bureau is suing Navient Corp., the nation’s largest student loan servicer, accusing it of “systematically and illegally failing borrowers at every stage of repayment,” according to a press release from January 18. The CFPB is asking Navient to compensate the borrowers the agency says were harmed.
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David Collins v. Paul Financial, LLC, et al
February 12, 2017
Please find notice of a hearing to be held in the Los Angeles County Superior Court at Burbank on February 24th at 10:30 AM. I urge you all to attend and to bring family, friends, foreclosure victims, advocates and anyone you can think of to pack the courtroom.
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MARCIA SWIFT beats ANDY BEAL - We won our motion in Federal Court against Beal
January 29, 2017
BIG WIN for homeowner against the almighty BILLIONAIRE ANDY BEAL. This case labels ANDY BEAL's SECOND SUIT in federal court against the homeowner (while state ct case is still pending) was VEXATIOUS AND CONTRIVED.
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The Return of Non-Prime U.S. RMBS (What Investors Need to Know)
fitchratings.com | January 25, 2017
A new non-prime mortgage market is beginning to emerge in the U.S., almost 10 years after the subprime and Alt-A mortgage markets shut down amid dramatic underperformance. Fitch Ratings expects a notable increase in newly originated non-prime RMBS activity in 2017, though on a significantly smaller scale and with a higher credit quality than pre-crisis origination volume.
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Databank of CHF (JPMC) Robo-signers in California
December 7, 2016
ATTENTION CALIFORNIA HOMEOWNERS!!!!!!!! Are you a current, or were you California homeowner (between 2004 and present)? Was CHASE “HOME FINANCE, LLC” (“CHF”) now known as “JP MORGAN CHASE, N.A. (“JPMC”)” your lender, or loan servicer, or trust’s trustee? Did you receive any assignment(s) and/or substitution(s) of trustee from any source while CHF was the lender, or servicer, or the trust’s trustee?
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CFPB increases foreclosure protections
journal.firsttuesday.us | November 22, 2016
The Consumer Financial Protection Bureau (CFPB) has released new rules for mortgage servicers to follow when responding to mortgage delinquencies and pursuing foreclosure. Beginning October 19, 2017, mortgage servicers are to offer homeowners foreclosure protections more than once if the need for protection arises numerous times.
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New tool searches judge stats | Artificial intelligence predicts case outcomes | Cybersecurity insurance a 'must have'
October 26, 2016
This Month's Featured Technology Stories - ABA Journal Tech Monthly
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More legislation to help the BANKING CARTEL
October 25, 2016
For nonjudicial foreclosures which are resolved (e.g., reinstatement, foreclosure alternative, etc.) after the notice of default (NOD) is recorded, but before posting the notice of trustee’s sale (NOTS), the maximum base trustee’s fee has been increased.
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Did you ever wonder why YOU VICTIMS got checks for $100 for restitution from the banking cartel settlements with CORRUPT DOJ?
judicialwatch.org | October 25, 2016
The Department of Justice (DOJ) keeps giving radical leftist groups that support President Obama huge amounts of cash collected from big banks to settle discrimination and mortgage abuse lawsuits filed by the government.
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Latest Case on TILA RESCISSION NOTE: Disagreement Among Circuits Perhaps Ripe for USSC Review Remanded
justia.com | October 20, 2016
After plaintiff began missing loan payments on a house she bought in Long Beach, ReconTrust initiated a non-judicial foreclosure. In this case, the lender was Countrywide, the borrower was plaintiff and the trustee was ReconTrust. Plaintiff subsequently filed suit alleging that ReconTrust violated the Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. 1692e(2)(A), by sending her notices that misrepresented the amount of debt she owed.
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Consumer Financial Protection Bureau structure ruled unconstitutional
usatoday.com | October 12, 2016
A federal appeals court Tuesday declared the structure of the federal Consumer Financial Protection Bureau unconstitutional, a decision that marks a major setback for one of the signature safeguards created after the U.S. financial crisis.
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Must Always Allege Damages and Specifically How You Were Harmed
justia.com | October 7, 2016
Here, borrower should have alleged "cloud on title" impairs his ability to market the home for sale.
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Judge rejected in its entirety the government's argument to hide Fannie & Freddie docs (follow-up)
October 7, 2016
This document may help explain why no one has been convicted of a crime in the mortgage scandal.
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Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
Suite 444
Los Angeles, CA 90066

Phone: 888-758-CFLA (2352)
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info@certifiedforensicloanauditors.com


 

 
 

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