Banks' Slowdown on Mortgage Aid Hurts Borrowers, Audit Says
bloomberg.com | July 31, 2014
Lenders aren’t keeping pace with a mounting backlog of applications for federal mortgage aid, placing some borrowers at increasing risk of losing their homes to foreclosure, according to an auditor’s report.
Vasquez v. Deutsche Bank | Texas First Circuit – REVERSED & REMANDED for Homeowner to Claim Quiet Title
stopforeclosurefraud.com | July 8, 2014
Appeal from the 281st District Court of Harris County. (Tr. Ct. No. 2012-21582). This case is an appeal from the final order signed by the trial court on February 18, 2013. After submitting the case on the appellate record and the arguments properly raised by the parties, the Court holds that there was reversible error in the portion of the trial court’s order granting summary judgment for the appellee, Deutsche Bank National Trust Company, N.A., as to the quiet-title claim of the appellant, Winona Flippon Vazquez.
Miami Tops US in Foreclosures
miamitodaynews.com | July 31, 2014
Despite a year-to-year decrease in foreclosure filings, Miami still has the nation’s highest metro foreclosure rate: 1.65% of all housing units (one in 61) with a foreclosure filing during the first half of the year, newly released statistics show.
SunTrust To Pay Nearly $1B To Settle Mortgage Fraud Claims
law360.com | July 31, 2014
Law360, New York (June 17, 2014, 5:19 PM ET) -- SunTrust Mortgage Inc. agreed to pay $968 million to settle mortgage origination fraud and foreclosure abuse claims after admitting to the harmful practices, the U.S. Department of Justice and several other departments said Tuesday.
U.S. Federal Judge Jed S. Rakoff said Bank of America was 'driven by hunger for profits and oblivious to harms' when it sold the defective mortgages to Fannie Mae and Freddie Mac
valuewalk.com | July 31, 2014
United States Judge Jed S. Rakoff of the Federal District Court In Manhattan ordered Bank of America Corp (NYSE:BAC) to pay $1.3 billion penalty after a jury found that Countrywide Financial was guilty of selling the defective mortgage loans to the GSEs in the run-up to the 2008 financial crisis.
Bankers to Pay the Price for Mortgage Fraud
nypost.com | July 31, 2014
He was only following orders. Salmaan Siddiqui, a former Credit Suisse mortgage bond trader who helped the bank hide more than $100 million in losses, was sentenced Wednesday to time served, and fined $150,000 — about 25 percent of his annual bonus.
On Your Mark, Get Set, Go: Court of Appeals Decision Creates Race to the Courthouse in Actions to Quiet Title Involving Municipalities
fosterswift.com | July 31, 2014
In a decision that could lead to increased litigation against municipalities involving claims for adverse possession and acquiescence, the Michigan Court of Appeals recently held that a property owner is not statutorily barred from bringing such actions against municipalities as long as the property owner is the first to file suit. In other words, if the property owner sues the municipality to quiet title, the property owner’s action may proceed. If the municipality sues the property owner to quiet title, the landowner is barred by statute from asserting its own claim(s) to the property.
Top Ten Mortgage Servicing Abuses
responsiblelending.org | July 29, 2014
Banks and loan companies sometimes charge late fees even when homeowners pay on time. “Robo-signing” is one type of mortgage fraud that has received a lot of press, but loan companies find many ways to rush foreclosures or generate fees at homeowners’ expense. Here, in no particular order, are many of the top loan servicing abuses.
Morgan Stanley Fined $275 Million For Inappropriate RMBS Offerings
hedgeco.net | July 29, 2014
New York (HedgeCo.Net) – Three Morgan Stanley entities have been charged by the SEC for misleading investors in a pair of residential mortgage-backed securities (RMBS) securitizations that the firms underwrote, sponsored, and issued. Morgan Stanley agreed to settle the charges by paying $275 million to be returned to harmed investors.
Goldman Mortgage Deal with Federal Agency Could Reach $1.25 Billion
reuters.com | July 28, 2014
(Reuters) - A deal to resolve a U.S. regulator's claims against Goldman Sachs Group Inc over mortgage-backed securities sold to Fannie Mae and Freddie Mac leading up to the financial crisis could cost the bank between $800 million and $1.25 billion, according to a person familiar with the matter.
Wells Fargo Loses Bid to Block FHA Mortgage-Fraud Suit
bloomberg.com | July 28, 2014
Wells Fargo & Co. (WFC) failed to convince a federal appeals court that a multibank mortgage settlement in 2012 barred the government from suing over home lending practices it claims led to hundreds of millions of dollars in federal insurance payouts.
Recent Housing Data Disappointing
nuwireinvestor.com | July 28, 2014
The housing data today are terrible and the market seems to think Thursday's earnings reports from home builders are bad, too.
Evidence Excluded from Mortgage Fraud Scheme Case
newswest9.com | July 28, 2014
MIDLAND - Roughly 100 pages of written arguments were sent between the US District Court and the four defendants who are accused of a massive mortgage fraud scheme that involved about 800 properties and $45 million in bank loans.
Oversight Requests Justice Department Docs on Mortgage-backed Securities Settlements
financialreform.wolterskluwerlb.com | July 28, 2014
In a letter to Attorney General Eric Holder, House Oversight and Government Reform Committee Chairman Darrell Issa (R-Calif) requested certain documents regarding oversight of the Department of Justice's litigation policy with respect to large financial institutions accused but not convicted or adjudicated of illegal conduct in conjunction with the financial crisis.
Marlboro Man Pleads Guilty to Mortgage Fraud
newswest9.com | July 28, 2014
NEWARK – A 42-year-old Marlboro resident admitted his role in a large-scale mortgage fraud scheme as well as distribution and possession with the intent to distribute methylone, officials said.
Foreclosures Largely Stable Through First Half of 2014
bizjournals.com | July 28, 2014
Foreclosures of residential and commercial properties are up slightly through the first half of the year in Franklin County.
Washington Department of Financial Institutions Files Actions in Joint Federal-State Mortgage Fraud Sweep
dfi.wa.gov | July 28, 2014
OLYMPIA – The Washington State Department of Financial Institutions Consumer Services Division today filed actions against two companies for operating unlawful mortgage rescue or loan modification schemes that scammed consumers into paying large upfront fees but did nothing to help them stay in their homes and avoid foreclosure.
Force-Placed Insurance Companies Could Face Government Lawsuit
lawyersandsettlements.com | July 28, 2014
Washington, DC: In addition to force-placed insurance lawsuits filed by homeowners who allege illegal kickbacks have been involved in lender insurance, companies could face a lawsuit from the federal government. According to reports, the government may sue some mortgage servicers over force-placed insurance kickbacks that may have cost Fannie Mae and Freddie Mac hundreds of millions of dollars.
Banks Face Challenge Averting U.S. Regulator's Mortgage Lawsuits
reuters.com | July 28, 2014
(Reuters) - A federal judge on Wednesday said banks faced an uphill battle in convincing her to dismiss a U.S. regulator's claims that they misled Fannie Mae and Freddie Mac into buying mortgage-backed securities that later went sour.
Mortgage Fraud Settlement, NY DA says no - The problem is STILL the banks
youtube.com | July 28, 2014
Nationwide Foreclosure Inventory Down 37% Compared to Last Year
reversemortgagedaily.com | July 28, 2014
National foreclosure data from May show that foreclosures and foreclosure inventory have decreased from May last year, by 9.4% and 37% respectively, according to the CoreLogic (NYSE: CLGX) May National Foreclosure Report.
Mortgage Fraud in North Carolina - Forged Affidavits by RoboSigners - Illegal Foreclosures in NC
youtube.com | July 28, 2014
This video is about Forged Affidavits and how Maggie Walker, NC. Homeowner, has been fighting for 4 years to keep her home. She has been subject to Mortgage Fraud & Illegal Foreclosure from Too-Big-To-Fail Banks, Mortgage Companies & their Attorney, Gerald Shapiro & Grady Ingle.
Ohio Sues Mortgage-rescue Business, Charging Fraud
dispatch.com | July 28, 2014
The state of Ohio has sued Credence Law Group Inc., a Chicago-based mortgage-rescue business, accusing it of taking money from consumers while making false promises about its ability to rescue them from foreclosure.
Issa asks Holder to Turn over Docs on Mortgage Fraud Settlements
thehill.com | July 28, 2014
The chairman of the House Oversight Committee asked Attorney General Eric Holder Thursday to turn over documents related to the Justice Department’s decisions to settle mortgage fraud accusations against two of the nation’s biggest banks.
Are the jumbo RMBS floodgates finally re-opening?
housingwire.com | July 25, 2014
For the third time in 2014, Credit Suisse (CS) is preparing to bring a prime, jumbo residential mortgage backed securitization to market. While the overall market for this paper remains tiny compared to the pre-bust days, the jumbo space is growing healthily. And compared to the crickets heard right after 2008, the market looks set for continued growth, with the return of old players and the emergence of some new ones as well.
Morgan Stanley To Pay $275 Million For Misleading Investors In Subprime RMBS Offerings
mondovisione.com | July 25, 2014
The Securities and Exchange Commission today charged three Morgan Stanley entities with misleading investors in a pair of residential mortgage-backed securities (RMBS) securitizations that the firms underwrote, sponsored, and issued.
Citigroup Settles with DOJ for $7 Billion
natlawreview.com | July 23, 2014
Citigroup announced last week that it will pay $7 billion to end an investigation by the U.S Department of Justice into misconduct related to its mortgage securitization practices. The blockbuster settlement came days before DOJ lawyers were expected to file a lawsuit.
Form 8-K for J.P. Morgan Chase Commercial Mortgage Securities Trust 2014-C20
biz.yahoo.com | July 22, 2014
On July 22, 2014, J.P. Morgan Chase Commercial Mortgage Securities Corp. (the "Depositor") caused the issuance of the JPMBB Commercial Mortgage Securities Trust 2014-C21, Commercial Mortgage Pass-Through Certificates, Series 2014-C21, pursuant to a pooling and servicing agreement, dated as of July 1, 2014 and which was most recently filed with the SEC on July 22, 2014.
BofA Pays AIG $650 Million to Settle Mortgage Disputes
news.yahoo.com | July 21, 2014
NEW YORK (Reuters) - Bank of America Corp agreed to pay the insurer American International Group Inc $650 million to settle long-running legal disputes over defective mortgage-backed securities that the bank sold in the run-up to the financial crisis.
EX 35 1 Pooling and Servicing JPMorgan Mortgage Acquisition Trust 2007-CH3
scribd.com | July 21, 2014
Bank of America Corp Offers $13B To Settle Mortgage Probe
valuewalk.com | July 21, 2014
Citing people familiar with the development, The Wall Street Journal reports the bank met with U.S. Justice Department representatives on Tuesday, although apparently no progress was made towards a final deal.
Associate AG Tony West Outlines Criteria for Civil Mortgage Fraud Settlements
mainjustice.com | July 21, 2014
WASHINGTON- Two days after the historic Citigroup settlement, Associate Attorney General Tony West outlined the Justice Department’s approach to resolving the remaining cases related to Residential Mortgage-Backed Securities (RMBS) misconduct that contributed to the financial crisis. West declared that the department would not hesitate to bring litigation against these firms if these principles were not met.
JPMorgan Pulls Back from Mortgage Lending on Foreclosure Worries
stopforeclosurefraud.com | July 21, 2014
JPMorgan Chase & Co, the second-largest U.S. mortgage lender, is backing away from making home loans to less creditworthy borrowers after losing faith in its ability to recover much money from foreclosing on homes, even with government guarantees.
Mortgage Scams Exploding Across US as Lawyers Become the Predominant Impetus in Their Creation
orangehousemedia.com | July 21, 2014
There’s an old joke that starts out – what do you have when you have 100 lawyers at the bottom of the sea? Answer: a good start. But not all attorneys are bad or corrupt. In fact, a group called The Lawyers’ Committee for Civil Rights Under Law monitors a hotline called HOPE and according to their analysis, the most costly of these foreclosure rescue scams – and now the most pervasive – involve or are directed by attorneys.
N.J. Lags as Foreclosure Crisis Passes Nationwide
northjersey.com | July 21, 2014
Home foreclosures in New Jersey rose 38 percent in fiscal 2014, the state Judiciary said Wednesday, as lenders continued to catch up on cases that piled up while the mortgage industry dealt with accusations it abused borrowers' legal rights.
WAMU - Here is the Confidential 112 page Purchase & Assumption Agreement Between FDIC, Chase
stopforeclosurefraud.com | July 21, 2014
In all the transactions offered by the FDIC, the Whole Bank Purchase and Assumption Agreement will be tailored to the winning bid. In all transactions, all assets are purchased by the acquirer and the preferred stock is excluded from the transaction. The legal documents will be the governing documents for this transaction.
RealtyTrac Reports Falling Foreclosure Rates
bizjournals.com | July 21, 2014
The RealtyTrac real estate market data analysis firm has released a massive amount of foreclosure statistics in a mid-year report showing a general downward trend in sour loans in or headed toward foreclosure.
Foreclosures Continue to Plunge in California
sacbee.com | July 21, 2014
Foreclosures have fallen to their lowest levels in California and Sacramento County since late 2005, market researcher DataQuick said Thursday.
CFLA Founders Launch Andrew Lehman Analytics, LLC
merchantcircle.com | July 21, 2014
Founders and Creators of CFLA and its subsidiaries announce the launch of Andrew Lehman Analytics, LLC, a limited liability company formed under the laws in the State of Texas.
Right to Jury Trial in Quiet Title Cases
schorr-law.com | July 21, 2014
There are few things in the law that people perceive as inviolate as the right to a jury trial. However, the right to a jury trial is only a matter of right in a civil action at law, but not in equity. (C & K Engineering Contractors v. Amber Steel Co., Inc. (1978) 23 Cal.3d 1, 8.) This is based on whether the gist of the action is legal or equitable.
FBI Seizes Local Company’s Docs in Mortgage Fraud Case
theadvocacyforconsumerrights.org | July 21, 2014
Federal agents were seen carrying boxes out of a Port Orange business Thursday morning after a three year long investigation into mortgage fraud.
To all Homeowners, FRAUD ALERT
highlandstoday.com | July 21, 2014
After a reported settlement between Bank of America, JP Morgan Chase, Citigroup, Wells Fargo and Ally Financial with attorneys general across the U.S. in the foreclosure epidemic, Florida Attorney General Pam Bondi released a highly critical presentation detailing legal issues surrounding the crisis.
There May be Zombies in Your Neighborhood
columbusceo.com | July 21, 2014
Residential real estate has its own version of the 1968 cult classic “Night of the Living Dead.” You could call it “Zombie Foreclosures.” RealtyTrac, a search engine that collects real estate data nationwide, defines the phenomenon: “Properties that have started the foreclosure process but have never been foreclosed and the homeowner has vacated.
Did A Mortgage Lobbyist Advise Andrew Cuomo During His Mortgage Investigations As AG?
propublica.org | July 21, 2014
A version of this story was co-published with the Albany Times-Union. In early 2007, when he was New York State attorney general, Andrew Cuomo brought on a longtime confidant as a consultant on mortgage industry investigations, a move that has gone undisclosed until now.
Prof Robert Hockett: Need Eminent Domain to Break Securitization Suicide Pact Killing Recovery
huffduffer.com | July 21, 2014
If you’re looking to start a fight over dinner at your in-laws, just bring up the topic of eminent domain, specifically as Cornell University Law School’s Professor Robert Hockett is proposing it be used to force the writing down of underwater mortgages for homeowners… and take whichever is the other side. My guess is that you won’t be invited back anytime soon.
Freddie Mac: Paying the mortgage isn’t enough
housingwire.com | July 21, 2014
Freddie Mac does great blogs. They’re simple, educational and sometimes so obviously necessary you wonder why there isn’t more of this kind of thing out there.
Residential Mortgage-Backed Securities Are Heading Over a Cliff
advisorperspectives.com | July 21, 2014
Non-Agency residential mortgage-backed securities (RMBS) are securitized mortgages that are not guaranteed by Fannie Mae or Freddie Mac or insured by the FHA.
Freddie Mac Says Three Banks to Pay a Total of $1.3 billion to Settle Mortgage Claims
washingtonpost.com | July 21, 2014
Mortgage finance giant Freddie Mac said Tuesday that three of the country’s largest banks — Wells Fargo, Citigroup and SunTrust Banks — had agreed to pay a total of $1.3 billion to resolve claims on millions of home loans that have soured or may go bad.
Citigroup to Pay $7B in Subprime Mortgages Probe
apnews.excite.com | July 21, 2014
WASHINGTON (AP) — Citigroup will pay $7 billion to settle an investigation into risky subprime mortgages, the type that helped fuel the financial crisis. The agreement announced Monday comes weeks after talks between the sides broke down, prompting the government to warn that it would sue the New York investment bank. The bank had offered to pay less than $4 billion, a sum substantially less than what the Justice Department was asking for.
In Banking World, Fraud is an Epidemic
truth-out.org | July 21, 2014
Truthout is serializing Beatrice Edwards' book, The Rise of the American Corporate Security State. Daniel Ellsberg writes of The American Corporate Security State: "Edwards is an extraordinary writer who brilliantly captures the essence of what whistleblowers such as [Edward] Snowden have sacrificed their careers and jeopardized their personal liberties to convey."
STL Among Cities with Most Abandoned Homes
ksdk.com | July 15, 2014
While there are a variety of options for homeowners in foreclosure, many have chosen to cut their losses and abandon their property. The housing market has been improving across much of the nation. However, some cities still have a long recovery process ahead of them as the market deals with a glut of homes in foreclosure, which can often stay in the system for several years. Meanwhile, many of these remain vacant.
COURT CLERK: Foreclosures Dropping in Palm Beach County
bocanewsnow.com | July 15, 2014
BOCA RATON, FL (BocaNewsNow.com) — Good news if you’re selling a home, not so good if you’re buying. The Palm Beach County Clerk of Court’s Office reports that foreclosure sales are dropping dramatically as the real estate market continues to stabilize. For sellers: you’re no longer up against undervalued property being sold in distress. For buyers… there are not nearly as many distressed deals as there were a year ago.
CitiGroup Settlement Includes $45.7M Payment To Commonwealth
bankerandtradesman.com | July 15, 2014
CitiGroup Inc. will pay $7 billion in a joint federal-state settlement over its mortgage-backed securities activities, Attorney General Martha Coakley said today.
PennyMac Enters into Repurchase Facility with Bank of America
housingwire.com | July 15, 2014
PennyMac (PMT) is entering into a loan repo facility with Bank of America (BAC) to help fund newly originated mortgages. The $550 million facility sells the mortgages to BofA, for PennyMac to potentially later repurchase, in a deal fully guaranteed by PennyMac.
Citigroup will Pay $7 Billion Nationwide in Settlement Regarding Mortgage-backed Securities
fontanaheraldnews.com | July 14, 2014
California Attorney General Kamala D. Harris, along with the U.S. Department of Justice and state partners, announced a settlement with Citigroup Inc. to resolve federal and state civil claims related to Citigroup’s conduct in the packaging, securitization, marketing, sale, and issuance of residential mortgage-backed securities prior to Jan. 1, 2009.
Federal Court In Pennsylvania Strikes At The Heart Of The Residential Mortgage System; Can Commercial Syndicated Loans And Mortgage Securitizations Survive Unscathed?
mondaq.com | July 11, 2014
On June 30, 2014, the United States District Court for the Eastern District of Pennsylvania issued an important decision on Pennsylvania's recording statutes in the case of Montgomery County, Pennsylvania, Recorder of Deeds, on its own behalf and on behalf of all others similarly situated v. MERSCORP, Inc., and Mortgage Electronic Registration Systems, Inc., No. 11-CV-6968 (E.D. Pa. 2014).
Cities with the Most Abandoned Homes
247wallst.com | July 11, 2014
While there are a variety of options for homeowners in foreclosure,many have chosen to cut their losses and abandon their property. The housing market has been improving across much of the nation. However, some cities still have a long recovery process ahead of them as the market deals with a glut of homes in foreclosure, which can often stay in the system for several years. Meanwhile, many of these remain vacant.
Mortgage Nightmare for Plant City Couple
wfla.com | July 10, 2014
Karl and Vicktoria Hanson thought their foreclosure nightmare was long over. It may be just beginning.
Citigroup Is Said to Be Close to Settling Inquiry Into Mortgage Securities
dealbook.nytimes.com | July 10, 2014
Citigroup and the Justice Department are nearing a deal that could cost the bank roughly $7 billion to settle a civil investigation into the sale of mortgage investments, people briefed on the matter said on Tuesday.
Foreclosure Inventories Set New High in Florida, But No New Wave Seen
blogs.wsj.com | July 10, 2014
The volume of foreclosed properties held by Fannie Mae and Freddie Mac in the state of Florida reached a new high at the end of March, surpassing the previous peak reached at the end of 2010.
Fannie Mae, Freddie Mac: Govt Securities Fraud?
valuewalk.com | July 10, 2014
The powers of common stockholders, who formerly elected the boards of directors and approved certain enterprise actions, are suspended. FHFA as the conservator has assumed all of their authority. Previously, the common stockholders owned 100% of the GSEs. As a result of the warrants issued to the Treasury, they could own only 20% of the enterprises.
Bank Of America Mortgage Fraud Suit Brought By Gov’t
youtube.com | July 10, 2014
Fannie Mae Reform to Cause Housing Crisis 2.0
valuewalk.com | July 10, 2014
It wasn’t long ago that Rafferty Capital Markets LLC VP of equity research Richard X. Bove declared victory on Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) reform, sensing a sea change in Federal Housing Finance Agency (FHFA) chief Mel Watts comments at the Brookings Institution.
Citigroup Could Pay $7 Billion for Mortgage Fraud
blog.silversaver.com | July 10, 2014
Citigroup and the Justice Department are close to reaching a deal that would cost the bank $7 billion to settle a civil investigation into the sale of mortgage investments, according to an article in the New York Times. The bank is one of eight under federal investigation for mortgage fraud that defrauded investors on billions of dollars worth of mortgage-securities leading up to the financial crisis.
Interthinx Q1 2014 Report Indicates Property Valuation Fraud Risk Up Nationwide
insurancenewsnet.com | July 8, 2014
Interthinx has released its quarterly interactive Mortgage Fraud Risk Report covering data collected in the first quarter of 2014.
The History Of The Credit Default Swap
insurcom.inc2to.com | July 8, 2014
Within the late the nineteen nineties, Credit Default Swaps (CDSs) were developed to be able to change the danger from commercial banks, which made the financial loans, to 3rd-party traders. These third-party traders were betting that each one of the financial loans would get into default, and also the banks would then convey more capital. The Compact disks market rose to just about $1 trillion by 2000.
American Homeowner Preservation Kill Squad Eradicates Foreclosure Zombie in Infested Neighborhood
theintelligencer.com | July 8, 2014
Last week, RealtyTrac released its latest statistics regarding vacant foreclosed homes known as “foreclosure zombies.” AHP recently put one of these vacant homes back in service.
Despite Promises To Fight Mortgage Fraud, DOJ Basically Ignored It, Then Claimed Success With Faulty Stats
techdirt.com | July 8, 2014
A few months ago, we noted that the FBI had quietly admitted that its primary function was no longer law enforcement (as it was supposed to be), but rather "national security." Because fighting terrorism is hot. Putting bankers destroying the economy in jail? Not hot.
Quiet Title and Statute of Limitations
techdirt.com | July 8, 2014
In the search for a magic bullet, many pro se litigants and even attorneys have ended up perplexed by laws and rules regarding an action to Quiet Title (frequently misspelled by pro se litigants as “Quite Title”). The purpose of this article is to add some context to the discussion and some reasons for my conclusion — that as more decisions emerge the action for Quiet Title will fade unless the mortgage of record is first nullified or canceled.
Struggling With Your Mortgage? Fannie Mae and Freddie Mac Could Help You Keep Your Home
fool.com | July 8, 2014
More than five years after the mortgage crisis hit, there are still millions of homeowners who are struggling to stay in their homes. Foreclosures have dropped considerably, but are still popping on the market a lot more than they should.
SunTrust to Pay $320 Million Over HAMP Missteps
mpamag.com | July 7, 2014
SunTrust Mortgage has agreed to a $320 million settlement with the Justice Department that resolves a criminal investigation of the lender’s administration of the Home Affordable Modification Program.
Osorio v. State Farm Bank, FSB | 11th Circuit
July 7, 2014
ROBO-CALLS – Debt Collectors Could Be Fined $1,500 in Statutory Damages, or $4,500 if Willful Every Time They Call
Did Credit Default Swaps Cause The Financial Market Turmoil?
friendsocial.net | July 6, 2014
There is the identical number of opportunities today as some time ago and possibly more, be mindful find him or her. Because of the economic conditions, the opportunities may have shifted to various industries and even more favorable to one industry versus the other but, believe me, opportunities are still out there!
Glaski v Bank of America Quiet Title Wrongful Foreclosure
deeps.tv | July 6, 2014
Government Support for GSE Mortgage-Transfer Securities 'Unrealistic'
blogs.barrons.com | July 6, 2014
My Current Yield column in this week’s Barron’s magazine discusses how agency mortgage-backed securities – those underwritten by GSEs like Fannie Mae (FNMA) and Freddie Mac (FMCC) – look rich, and yield-hungry investors are turning to non-agency MBS and other, newer types of bonds called risk transfer securities.
Freddie Mac Updates MERS Requirements
stopforeclosurefraud.com | July 6, 2014
Due to recent legal developments, Mortgages in the States of Montana, Oregon and Washington where MERS is not the original mortgagee of record, but is a subsequent assignee, are not eligible for sale to Freddie Mac. Seller/Servicers should refer to Bulletin 2014-6 regarding the use of the MERS Rider (Form 3158) for Mortgages where MERS is the original mortgagee of record in the above States.
HSBC Settles U.S. Fraud Charges Over Foreclosure Fees
reuters.com | July 6, 2014
(Reuters) - HSBC Holdings Plc (HSBA.L) agreed to pay $10 million to settle U.S. government charges that it defrauded taxpayers by submitting inflated bills to process residential foreclosures.
Freddie Mac Guards Against $285M of Losses with Insurance
graniteridgecg.com | July 6, 2014
Freddie Mac bought insurance to cover as much as $285 million of losses on a pool of U.S. home loans, in its third and largest such purchase under a risk-sharing effort encouraged by its regulator.
SunTrust Mortgage to Pay up to $320 Million in Loan Modification Settlement
spokesman.com | July 6, 2014
CHARLOTTESVILLE, Va. – SunTrust Mortgage Inc. has agreed to pay up to $320 million to resolve allegations that it misled customers seeking loan modifications.
Why Robo Signing is Unlawful in California Non Judicial Foreclosures
romafree.com | July 6, 2014
All bankruptcy instances are charged on a flat-price basis, which means that you are not charged an hourly price every time you name or are available in to the workplace. Our regulation firm bases its costs on the time and complexity of each case. If you are available to the workplace, an attorney will evaluate our circumstances and offer you a firm worth quote. All of our circumstances begin with solely $250 down.
New Rules for Credit Default Swap Trading: Can We Now Follow the Risk?
insurancenewsnet.com | July 6, 2014
Credit default swaps, a useful but complex financial innovation of the 1990s, were traded over the counter before the financial crisis. Because of this infrastructure, a very opaque market emerged-and from it, the severe risk imbalances that helped fuel the crisis.
More than $127 Million of CMBS Loans Securitized by Natixis
mortgageorb.com | July 1, 2014
Natixis, the corporate, investment and financial services arm of Groupe BPCE, reports that it recently securitized $127.1 million of loans in a conduit commercial mortgage-backed securities (CMBS) transaction.
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