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April 2015 Article Archive

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Florida Quiet Title complaint by Kathy Ann Garcia-Lawson (KAGL)
scribd.com | April 29, 2015
Bob Hurt provides this Florida Quiet Title complaint by Kathy Ann Garcia-Lawson (KAGL) against mortgage fraud and marriage tort. USDC Southern DIstrict of Florida case # 9:10-cv-80240-KAM. This model pleading shows many ways to attack mortgage fraud and divorce tort.
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Govt & One of Nation's Largest Mortgage Lenders Sue Each Other
blog.credit.com | April 29, 2015
The U.S. government filed a lawsuit against Quicken Loans, one of the nation’s largest mortgage lenders, for allegedly improperly originating and underwriting Federal Housing Administration (FHA) home loans, the Department of Justice announced April 23.
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Ex-appraiser gets 42 months in mortgage fraud schemes
post-gazette.com | April 29, 2015
An appraiser from Collier was sentenced today to 42 months in federal prison in mortgage fraud schemes involving two properties and three banks. After a two-day sentencing hearing, U.S. District Judge Terrence McVerry imposed that term on James Lignelli, 59, and ordered him to pay $300,000 in restitution to the lenders he ripped off by preparing false appraisals.
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Florida Quiet Title Complaint 20100211 Kagl v Suntrust and Jeff Lawson
scribd.com | April 29, 2015
Florida and California, hotbeds of mortgage foreclosure actions, differ in this central respect: Florida requiresa lawsuit to foreclose; California does not. Thus, we call Florida a "judicial foreclosure state" and California a "non-judicial foreclosure state." Both kinds of states have a central feature in common: the homeowner may sue for "Quiet Title," an action that puts to rest all disputes over who has claim to the property.
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Federal Mortgage Agency Says More Needed to Police Nonbank Lenders
wsj.com | April 29, 2015
A government mortgage agency says it needs more resources to police the growing ranks of companies rushing to fill the void left by big banks that have stepped away from the market for riskier home loans.
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J.P. Morgan, Justice Department reach $50 million robo-signing settlement
marketwatch.com | April 27, 2015
A J.P. Morgan Chase & Co. unit struck a $50 million deal with regulators who accused the bank of filing “robo-signed” mortgage documents to bankruptcy courts across the country. Under the deal with the U.S. Justice Department, J.P. Morgan Chase Bank N.A. promised to make payments to more than 25,000 homeowners, including some who weren’t properly notified that their mortgage payments increased after they filed for bankruptcy protection.
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Quicken’s Dan Gilbert takes on the feds over loan allegations
financialjuneteenth.com | April 26, 2015
Unlike other big banks that have ‘settled’ charges rather than face the feds, Gilbert is putting up his fists. Dan Gilbert, founder of Quicken Loans and owner of the Cleveland Cavaliers basketball team, has fairly earned a reputation as a confrontational business executive who’s not afraid of a fight.
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CA Attorney General Files Amicus Brief for Homeowners Robo-signing Fraud Forgery TILA Rescission
April 27, 2015
The CA Attorney General and her staff has written a brief supporting homeowers that summarizes CA homeowner protection codes, reviews 38 wrongful foreclosure cases with legal opinions about the case rulings, and ends with this summary: "The Court should hold that homeowners may bring a wrongful foreclosure action on the basis that the party foreclosing on them lacks the power to foreclose because they do not own the debt, either due to an allegedly void assignment or for any other legally cognizable reason."
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After Paying $125 Million-Dollar Settlement For Predatory Lending, Wells Fargo Helps Rebuild Foreclosed Homes
financialjuneteenth.com | April 26, 2015
The Pittsburgh neighborhood in Atlanta was one of the areas worst hit during the housing bubble in the United States, with many homes in the area entering into foreclosure. Now, Wells Fargo, Invest Atlanta, and the Annie E. Casey Foundation want to give people the opportunity to own some of these foreclosed homes which they plan to renovate.
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U.S. Sues Dan Gilbert’s Quicken Loans Over Mortgage Fraud, One Cause of Detroit 'Blight'
voiceofdetroit.net | April 26, 2015
A three-year battle between the U.S. Department of Justice (DOJ) and Quicken Loans came to a head yesterday when the department filed a lawsuit alleging the Detroit-based lender violated the False Claims Act by improperly originating and underwriting mortgages insured by the Federal Housing Administration (FHA).
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Families Protest Abusive Foreclosure Practices of Wells Fargo Bank
la.indymedia.org | April 26, 2015
WHITTIER, CA—Shortly before noon on Saturday morning, a parade of families in “Occupy Fights Foreclosures” and “No to Housing Crime” t-shirts marched down Whittier Blvd.
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Bank of America Asks for Removal of $1.27 Billion Penalty, Questions Judge’s Impartiality
dsnews.com | April 26, 2015
Bank of America has requested an appeals court to dismiss a $1.27 billion court-imposed penalty against the bank over mortgage fraud and has also asked that the judge who imposed the penalty be removed from the case.
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GSEs Revise Requirements for Private Mortgage Insurance Eligibilty
themreport.com | April 19, 2015
As of today, Fannie Mae and Freddie Mac have officially changed their Private Mortgage Insurer Eligibility Requirements (PMIERs), altering the financial and operational minimums required of approved private mortgage insurers (PMIs).
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Mortgage company attempts fraud trifecta
sanduskyregister.com | April 19, 2015
In an industry where fraud is the rule of the day, mortgage servicing, Susie’s mortgage company has to take the cake for victimizing as many parties as possible with respect to one mortgage.
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Former JPMorgan Chase Broker Charged in $20 Million Fraud
nytimes.com | April 19, 2015
A former JPMorgan Chase broker treated accounts maintained by his clients as his own personal piggy bank — using about $20 million in client money to make unprofitable options trades and even paying down the mortgage on his New Jersey home, according to a federal criminal complaint unsealed on Thursday.
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HSBC Finance Notifies Mortgage Customers of Data Breach
americanbanker.com | April 19, 2015
HSBC has informed New Hampshire's Attorney General of a compromise of some records of current and former mortgage customers of its HSBC Finance unit. HSBC Finance is a nonbank lender, formerly known as Household Finance, that HSBC bought in 2003. The bank is in the process of winding it down.
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McCulley v. US Bank of Montana - $5 million punitive damages AFFIRMED; Watch what USSC does with this when US Bank files for USSC Writ of Certiorari
justia.com | April 17, 2015
Plaintiff sought a thirty-year residential financing loan from the predecessor to U.S. Bank in the amount of $300,000. Three years later, Plaintiff filed suit against U.S. Bank alleging that the Bank committed fraud by issuing, without notice, an eighteen-month, $300,000 commercial loan, rather than the thirty-year residential property loan for which she applied.
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Important Case in 9th Circuit. Erie Doctrine Analyzed And Confirmed
April 17, 2015
I have explained this ERIE DOCTRINE in several prior emails to foreclosure advocates. Now our NINTH CIRCUIT reiterates IN WRITING exactly what I have preached for years. When you are in FEDERAL COURT the federal court applies FEDERAL RULES OF PROCEDURE; however, where there is a SUBSTANTIVE ISSUE the federal court must APPLY STATE LAW to the ISSUE.
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The Power of Standing Up - United Together Gets Results! Bank of America failed.
April 17, 2015
Public Citizen's financial reform expert, Bartlett Naylor, has filed a motion to break up Bank of America — and the U.S. Securities and Exchange Commission has agreed that the motion should be decided by the bank’s shareholders at their annual meeting in a few weeks.
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$6 Million Award Upheld by Montana Supreme Court!
April 15, 2015
The jury found that the Bank defrauded McCulley and awarded her $1,000,000 in compensatory damages and $5,000,000 in punitive damages, which the District Court approved. Today, the Supreme Court affirmed the damages judgment, and reversed the calculation of interest on the judgment.
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Bankruptcy Case reopened based upon prior rescission that was ignored
livinglies.wordpress.com | April 14, 2015
In a closed bankruptcy case, the debtor filed a motion to reopen it because the schedules were wrong — resulting from an erroneous interpretation of the law regarding rescission. Hence the prior rescission was effective when mailed and thus there were significant assets in the bankruptcy estate that were unencumbered by operation of law and thus were not computed in the discharge of debts and payments of creditors.
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Estero retiree suing bank after surprise foreclosure
washingtonpost.com | April 11, 2015
A business that calls alone Prosperity Training allegedly taught various economically distressed owners an unlawful and expensive lesson, charging hefty upfront fees for home loan relief providers under no circumstances rendered, when advising actions that still left some dealing with foreclosures.
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FHFA, Nomura Trial Over Mortgage-Backed Securities Winding Down
themreport.com | April 11, 2015
The court battle between the Federal Housing Finance Agency (FHFA) and Nomura Holdings is nearing a climax after three weeks, as both sides presented closing arguments on Thursday.
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FTC: Fraud promised mortgage loan reduction, did opposite
eaglecurrent.com | April 11, 2015
A business that calls alone Prosperity Training allegedly taught various economically distressed owners an unlawful and expensive lesson, charging hefty upfront fees for home loan relief providers under no circumstances rendered, when advising actions that still left some dealing with foreclosures.
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Foreclosure risk for 1,300 unless homeowners make deal soon
silive.com | April 11, 2015
STATEN ISLAND, N.Y. -- Next month, the city will sell unpaid and long-overdue property tax, water-sewer charges, and other liens that have accumulated on almost 1,300 Staten Island single-family homes, co-ops and condominiums -- unless the owners pay the debts or enter into payment agreements no later than May 14.
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From Robo-signing to e-Signing: The Future of Mortgaging
raleighnewstoday.com | April 11, 2015
Several days ago, the New York Times published a rundown on startups who are looking to digitalize and streamline the mortgage underwriting process, with the aim of putting loans into the hands of information savvy Millennials. Starting small but growing fast, the startups profiled aim to take digitalize mortgaging, allowing loan seekers the experience of getting loans from anywhere, anytime, with ease.
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Foreclosure Starts Leveling Off After Spiking to Start 2015
dsnews.com | April 8, 2015
Foreclosure starts dropped off by 15 percent according to Black Knight Financial Services' February 2015 Mortgage Monitor released earlier this week, almost reversing the spike they experienced in January – indicating that foreclosure starts may be leveling off and even nearing pre-recession numbers.
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AIG sued for "misleading investors" in security fraud
ibamag.com | April 8, 2015
The fallout from the 2008 financial crisis continues to follow American International Group. Pacific Investment Management Co. has filed a suit against AIG seeking remuneration for misleading investors about “colossal” losses related to unregulated credit-default swaps and subprime debt prior o 2008.
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How and Why Your Mortgage is Nothing More than Legal Fiction
adventuresintosovereignty.org | April 5, 2015
The United States Corporate Government turned you, a live person, into property and chattel with your birth certificate and they made millions off of you! They own your home and any and all property you think is yours and they own YOU – your very body – and your children.
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Morgan Stanley Reaches $2.6 Billion Settlement Over Mortgage-Backed Securities
nbc-2.com | April 1, 2015
The bank said it had reached a preliminary agreement with the Justice Department today. Morgan Stanley, one of two remaining large independent investment banks, said today that it had reached a preliminary $2.6 billion settlement with the Justice Department over its dealings with mortgage-backed securities before the financial crisis.
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