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July 2016 Article Archive

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Deutsche Bank negotiating with DOJ on mortgage bond settlement
housingwire.com | July 28, 2016
Deutsche Bank disclosed Wednesday that it is currently in negotiations with the Department of Justice to resolve an investigation into the bank’s mortgage bond activities.
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Freddie Mac must face revived lawsuit over subprime exposure
yahoo.com | July 28, 2016
A federal appeals court on Wednesday revived Ohio's lawsuit accusing Freddie Mac of defrauding the state's $87.3 billion public pension fund by hiding its exposure to subprime and other risky mortgages prior to the 2007-09 financial crisis.
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The Word is Getting Out - Table Funding: FYI Old Wikileaks Respa Data
July 28, 2016
Abstract. This report provides an overview of one of the issues involving the Real Estate Settlement Procedures Act of 1974 (RESPA), which was enacted to prevent abuses in the settlement process for residential real estate. A current issue is whether certain compensation to mortgage brokers violates the anti-kickback provisions of RESPA. The present RESPA regulation is discussed, as well as the unsuccessful attempt to address the issues through a negotiated rulemaking. A summary and analysis of HUD’s subsequent proposed rule is provided.
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3 Reasons Your FICO Credit Score, Despite The Abuse, Still Matters A Lot
forbes.com | July 24, 2016
FICO is a pioneer of credit scoring. Founded in 1956, it introduced the first credit bureau risk score in 1981. Today, “FICO” has become synonymous with credit scores in the same way that “Kleenex “ is synonymous with tissues. However, FICO has been under attack in the last few years.
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Council Rock alum pens saga of 'largest fraud in American history'
buckscountycouriertimes.com | July 24, 2016
An author who grew up in Bucks County tells the inside story on foreclosures that followed the last decade's housing bubble. It's not pretty.
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Taking out a reverse mortgage ruined my life
nypost.com | July 24, 2016
When Frederick Feil took out a reverse mortgage on his Howard Beach home, he thought he was ensuring a comfortable future — not putting himself at risk of becoming homeless.
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Partial List of Known ROBO-SIGNERS
certifiedforensicloanauditors.com | July 20, 2016
CFLA Research has uncovered this partial list of known ROBO-SIGNERS.
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Florida foreclosure rates still way above pre-recession levels
bizjournals.com | July 17, 2016
If Florida having the highest amount of bank repossessions in the U.S. wasn't bad enough, the state's second-quarter foreclosure rates are still 26 percent above pre-recession levels, according to a new study by RealtyTrac. Florida was also in the top five states with highest foreclosure rate in the first-half of 2016, coming in at No. 4 with 0.7 percent of all housing units with a foreclosure filing. New Jersey came in at No. 1 with .98 percent.
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Housing Bubble 2.0: Prepare to Pop
livinglies.wordpress.com | July 16, 2016
If 2006/07 was the peak of the largest housing bubble in history with affordability never better vis a’ vis exotic loans; easy availability of credit; unemployment in the 4%’s; the total workforce at record highs; and growing wages, then what do you call “now” with house prices at or above 2006 levels; worse affordability; tighter credit; higher unemployment; a weakening total workforce; and shrinking wages?
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Yet again, Atlantic County tops nation in foreclosure filings
pressofatlanticcity.com | July 15, 2016
Over the first six months of this year, one out of every 54 homes in Atlantic County was the subject of some foreclosure activity. Statistics of new default notices, scheduled auctions and bank repossessions found Atlantic County continues to leads the nation, according to data from RealtyTrac.
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Mortgages: Weapons of Middle Class Mass Destruction
livinglies.wordpress..com | July 15, 2016
Losing your home by foreclosure to a bank that used fabricated documents to foreclose is a tragedy that has tainted the American dream for millions of Americans. The process is unjust, unlawful and dehumanizing. But even years after the former homeowner has moved forward with their lives they sustain another injury they are probably not even aware of- and that is the loss of rebound gains in the market.
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U.S. Fed buys $7 billion of mortgage bonds, sells none
reuters.com | July 15, 2016
The Federal Reserve bought $7.029 billion of agency mortgage-backed securities in the week from Jul. 7 to Jul. 13, compared with $7.311 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
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CFLA Offers New Online Mortgage Securitization Analyst Training Class - July 29-31, 2016
Certified Forensic Loan Auditors Mortgage Securitization Anaylst Training Certification Class is a comprehensive 24-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.
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Can a Debt Collector Restart the Clock on My Old Debt?
finance.yahoo.com | July 11, 2016
You have a very pleasant phone call with a debt collector. The person begs you to send in a just a small sum, say $10, to settle the payment and promises to never bother you again. Suddenly, you get a new bill with the date of the collection account reset to the current date. Is it legal?
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Banks Struggle to "FIND" Nonexistent Documents
livinglies.wordpress.com | July 8, 2016
So for the people who are unemployed due to a recession that won't really quit until the money stolen from the system is somehow replaced or clawed back, you have a job waiting for you if you can sleep at night knowing that if your activities are exposed, the bank will disavow your "irresponsible" actions, leaving you exposed to jail or prison.
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Lack of Standing is an Affirmative Defense
livinglies.wordpress.com | July 8, 2016
Appellant Robert J. Stoltz prevailed against Aurora Loan Servicing and Nationstar Mortgage in Florida’s Second District Court of Appeals. Honorable Judge Daniel R. Monaco reversed the final foreclosure judgment ruling that the plaintiff’s failure to prove standing at the inception of the suit was fatal (see Dickson v. Roseville Props., LLC, 40 Fla. L. Weekly D2520 (Fla. 2d DCA Nov. 6, 2015- quoting, “For better or for worse, it is settled that it is not enough for the plaintiff to prove that it has standing when the case is tried; it must also prove that it had standing when the complaint was filed.”).
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The Benefits and Limitations of Expert Declarations and Testimony in Foreclosure Actions
livinglies.wordpress.com | July 6, 2016
Homeowners and their lawyers have been misusing expert declarations since the mortgage meltdown began. A few like Ron Ryan out in Tuscon, did use it correctly but generally the judges back in 2007-2012 were not interested in anything other than getting the foreclosure sale done. Ron understands that the expert declaration is far more useful in motions and pursuing discovery than at trial. It is the expert himself/herself that must present live testimony in court if you want the results of forensic analysis to be taken into account in reaching the decision.
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Freedom from Governmental Corruption is a Human Right
livinglies.wordpress.com | July 4, 2016
Expecting the United States Government, a for-profit entity, to enforce its own laws against the banks will likely not happen. Numerous leaders and officials of the United States Inc. have already admitted that the banks write the rules. Since the 2008 collapse-the lack of response, the gross violations of due process and the overall impotence of the judiciary, law enforcement and regulatory agencies clearly demonstrates who the U.S. government caters to- and it is not the American homeowner or taxpayer.
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Annotations for Penal Code 115
July 4, 2016
Offering forged docs for recordings. Use Penal Code 132 and 134 felony for preparing for offering or OFFERING a false or fabrication. You might find something of value in the Penal Code for Prosecuting those who filed and recorded False documents, after you completeted and Posted your rescission/Cancellation documents to any alleged Lender.
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Fannie Mae and Freddie Mac Plaintiffs Allege Companies are Treated like Government ATM Machines
seekingalpha.com | July 4, 2016
Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) are the only two private companies in America at present where the government takes all of their net profits leaving little for private shareholders. In 2008, they were placed into conservatorship under their regulator the Federal Housing Finance Agency (FHFA) and are often referred to as the Government Sponsored Enterprises (GSEs).
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Georgia Bid Rigging Guilty Pleas
mortgagefraudblog.com | July 4, 2016
Michael Stock, Georgia, and Jon Stovall Jr. Georgia, both of whom are real estate investors, pleaded guilty today for their roles in bid-rigging and fraud conspiracies committed at public real estate foreclosure auctions in Georgia.  Each admitted that they agreed with other real estate investors to refrain from bidding against one another at public real estate foreclosure auctions in exchange for payoffs.  Stock admitted to participating in the conspiracy in Fulton and DeKalb counties from as early as August 2009 until at least November 2011, and Stovall admitted to participating in Fulton County from as early as October 2008 until at least January 2012.  Additionally, Stock and Stovall admitted to conspiring to use the mail to carry out a scheme to defraud homeowners and mortgage holders.
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CFPB Discovers Unfair, Deceptive and Abusive Practices persist with Loan Servicers
livinglies.wordpress.com | July 2, 2016
Between January 2014 and April 2016, the Consumer Financial Protection Bureau conducted “supervision work” on mortgage servicers, focusing particularly on compliance with new servicing rules and any unfair, deceptive, and abusive practices. CFPB has issued a report on those findings—and the bureau is not pleased.
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