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November 2015 Article Archive

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Standing Is Not A Multiple Choice Question
livinglies.wordpress.com | November 30, 2015
The Banks are getting increasingly obscure in their pleading and proof because they do not have any actual transactions in the chain upon which they can rely to collect or enforce an alleged "loan."
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Fannie & Freddie 2016 Loan Limits; Agency Requirements After a Bankruptcy or Foreclosure
mortgagenewsdaily.com | November 29, 2015
There are 50 states in the U.S., and 3007 counties in those states. (The numbers of counties per state ranges from the 3 in Delaware to 254 in Texas; Louisiana and Alaska have parishes - functionally equivalent.) Out of the 3,007 counties, 39 of them had their conforming loan limits increased by the Federal Housing Finance Administration (FHFA) - the overseer of Freddie Mac and Fannie Mae and the 11 Federal Home Loan Banks. For the remaining 2,968 the FHFA announced that the $417,000 baseline conforming loan limit for the GSEs would remain unchanged in 2016. As a result, the high-cost ceiling will remain $625,500 for 2016.
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What is the Cost of Delaying the Foreclosure Process?
dsnews.com | November 27, 2015
While delaying foreclosure on a home does have some potential benefits, for the most part it is counterproductive, according to data released this week by Freddie Mac. In Freddie Mac’s November 2015 Insight & Outlook report, the Enterprise notes the time it takes to foreclose on a home is twice as long on the average in judicial foreclosure states, meaning that the courts must approve the process before it is completed, as opposed to non-judicial states, where the process can be completed without the courts.
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$5.4 Million! Jury Finds Wells Fargo Committed Fraud When It Used Robo-Signed Document
i-uv.com | November 27, 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.
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Hindes Asserts White House Cover-up Regarding Fannie Mae/Freddie Mac
news.sys-con.com | November 25, 2015
Calling it "arguably the most egregious example of attempted government secrecy since the Watergate scandal of the 1970s", Gary E. Hindes, chairman of The Delaware Bay Company, LLC and former chairman of the Delaware Democratic Party, asserts in a report published today on his firm's website that the Obama Administration may have tried to cover up its effort to block a key witness from testifying in one of the many lawsuits filed against it in connection with its de-facto 'nationalization' of Federal National Mortgage Association and Federal Mortgage Insurance Corporation.
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$60,000 In CCP § 128.7 Sanctions Against Plaintiff And Plaintiff’s Attorney For Years Of Forestalling Foreclosure Efforts Affirmed On Appeal
calattorneysfees.com | November 20, 2015
This next post counsels litigants and their counsel that there is a point where the battle has been lost, under penalty of having sanctions imposed for further litigation—which is exactly what happened.
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Borrower Proving Loan Modification Case Entitled To $188,100 Fee Award Under Note/Deed Of Trust Clauses
calattorneysfees.com | November 20, 2015
In Bergman v. JP Morgan Chase Bank, N.A., Case No. E060148 (4th Dist., Div. 2 Sept. 30, 2015) (unpublished), borrower won an implied breach of covenant claim, based on a loan modification, against lender, receiving $250,000 in compensatory damages on this and a separate fraud claim. Borrower then moved to recover fees based on entitlement clauses in the note and deed of trust, a request granted by the lower court—although it only awarded $188,100 out of a requested $454,772.23.
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DOJ reportedly pursuing criminal charges against JPMorgan Chase, RBS executives
housingwire.com | November 20, 2015
Following through on policy changes announced earlier this year that opened the door to individuals being held criminally responsible for corporate misconduct that helped cause the financial crisis, the Department of Justice is reportedly pursuing criminal charges against executives at the Royal Bank of Scotland (RBS) and JPMorgan Chase (JPM).
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$25 Billion Fine for A $32 Trillion Foreclosure Fraud Proof of Gov’t + Bank Conspiracy
geopolitics.co | November 16, 2015
Multiple global banks have been fined “record breaking amounts” for foreclosure fraud and interest rigging, yet when we compare it to the actual damages that should have been awarded to the actual victims of the whole Ponzi scheme it would appear that the so-called “record breaking amounts” are just a trickle in the grand swindle bucket.
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Paatalo v Chase - Chase MTD Denied Re: WaMu TILA Rescission
November 16, 2015
This ruling came down yesterday in Oregon Federal Court. Judge Aiken does a good job of spelling out TILA post-Jesinoski in denying Chase's MTD. Read closely, as it is important for anyone to file their TILA action soon if you rescinded in the past. The fact that I filed my action right after Jesinoski is viewed by this Judge that I did not "sit on my hands."
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Foreclosures: Rate as bad as during recession
poughkeepsiejournal.com | November 15, 2015
One day recently Christian Knoeppel went to the Dutchess County Courthouse to watch his homeownership disappear. It was an auction. For sale: One house near Hopewell Junction, by order of the court, to satisfy his mortgage debt. This is what a foreclosure looks like.
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FTC Shuts Down 12 ‘Rogue’ Debt Collectors
blog.credit.com | November 10, 2015
Debt collectors allegedly told a consumer’s 84-year-old mother they had a warrant for her daughter’s arrest in one case. They told another she wouldn’t be able to see her children. A different collector allegedly kept harassing consumers over outstanding payday loans it had acquired, even after it was told by the seller the debts were invalid.
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Somebody Else Owns Your Home and You Are Paying Their Mortgage
beforeitsnews.com | November 10, 2015
There is a story on the internet about a man who died over three decades ago, yet, he is paying on several home mortgages. The move to confiscate all privately held wealth in the United States is well underway. In the past few years, we have experienced bail-outs, planned bail-ins, Treasury Secretary Jack Lew is positioning to confiscate all 401k’s and pensions and now the MERS mortgage fraud is accelerating to new heights thanks to a rash of recent State Supreme Court decisions affirming the Mortgage Electronic Registration Systems (MERS) right to foreclose on your home without having recorded a valid title and the foreclosure can take place outside of a courtroom.
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Freedom Caucus Votes For $17 Billion In Government Payments To Banks
huffingtonpost.com | November 8, 2015
WASHINGTON -- The House voted overwhelmingly on Thursday to preserve $17 billion in government payouts to banks, as part of a major highway funding bill. The GOP had initially pressed to include other bank-friendly measures in the highway bill, including a plan to hamstring the new Consumer Financial Protection Bureau and deregulate large banks. Those efforts were scrapped in favor of the more straightforward $17 billion payment.
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Are We Headed Toward Another Housing Crisis? What Hasn’t Changed Enough
dailysignal.com | November 8, 2015
Fannie Mae and Freddie Mac, the two government-backed housing corporations bailed out seven years ago by federal taxpayers, may be headed for trouble again. Despite post-financial crisis pressure to reform, neither Fannie nor Freddie has done much to mitigate the risk to the American taxpayer inherent in government backing for these institutions.
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State courts seem to turn deaf ear to defendants in foreclosure, so one couple files federal suit against their current mortgage holder
njspotlight.com | November 8, 2015
Fed up with the slow pace – and what many people see as unjust actions -- of foreclosures, some victims of the crisis are looking to go on the offensive, opt out of the New Jersey court system, and seek justice from federal courts. Jerome and Sandra Barnes of Paterson are one couple who hope to outrace their mortgage-holder by filing a federal suit.
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Nebraska to get $455,000 from settlement
omaha.com | November 8, 2015
Average long-term U.S. mortgage rates rose sharply this week amid growing expectations that the Federal Reserve may soon raise its key short-term interest rate. Mortgage giant Freddie Mac said Thursday that the average rate on a 30-year fixed-rate mortgage jumped to 3.87 percent from 3.76 percent a week earlier. The rate on 15-year fixed-rate mortgages advanced to 3.09 percent from 2.98 percent. Still, rates remained historically low, marking a 15th straight week below 4 percent and well below last year’s levels.
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Quiet Title Actions Based Upon Expiration of Time to Foreclose
debtinversion.com | November 8, 2015
In a previous post we discussed the New York Mortgage Foreclosure Statute of Limitations, under which the owner of a mortgage loan has up to six years from the date that a mortgage is accelerated to file a foreclosure action. When a mortgage is accelerated, all past, present and future payments of principal and interest become immediately due and payable and can be recovered from the homeowner through a foreclosure action. Acceleration of a mortgage occurs either when a mortgage foreclosure action is filed, or less commonly, when a “notice of acceleration” stating that the mortgage has been accelerated is mailed to the homeowner.
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U.S. Bank, N.A. v. Tannenbaum
justia.com | November 6, 2015
A Bank filed a residential foreclosure complaint against Appellant, alleging that Appellant executed a promissory note and a mortgage securing the note on certain property and that Appellant defaulted on the note. The Bank claimed that, through a series of endorsements and assignments, the Bank had acquired rights in the mortgage and authority to enforce the note.
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Bank of America, N.A. v. Eisenhauer
justia.com | November 6, 2015
Lorene and Harley Walter owned a certificate of deposit account with Bank of America. The account was a survivorship account and a payable-on-death account. After Harley died and while Lorene was still alive, the Bank distributed the funds in the account to Dwight Eisenhauer and Jo Ann Day, the named beneficiaries on the account, in equal sums.
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Investors are right to be cautious, but shouldn't shun risk
cbsnews.com | November 5, 2015
You've likely heard it all before: Stocks always go up in the long run; buy and hold; ignore the day-to-day volatility; invest early to capitalize on the magic of compounding; don't let fear cloud your financial judgment.
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California settles debt collection suit with JPMorgan Chase
host.madison.com | November 5, 2015
SACRAMENTO, Calif. (AP) — The nation's largest bank will pay $100 million to settle a California lawsuit alleging it used illegal methods to collect debts from more than 125,000 credit card holders, the state's attorney general announced Monday.
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FHA News; MERS, BofA, Fifth Third Appraisal Whistleblower Settlements
mortgagenewsdaily.com | November 5, 2015
Are we heading for a "Pearl Harbor" type event in the internet? Possibly, and cyber security is certainly becoming critical. And it just isn't always simple. (Yes - use the electrical outlet - don't let more devices have access to your lap top by charging them there!) The Federal Financial Institutions Examination Council (FFIEC) developed the Cybersecurity Assessment Tool to help institutions identify their risks and determine their cybersecurity preparedness.
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Flashback: Iceland Was Right, Terror Futures, West Nile Spraying
youtube.com | November 3, 2015
See video.

Iceland Has Now Sent 26 Corrupt Bankers To Prison
infowars.com | November 3, 2015
In a story not reported on at all by any Western mainstream media source, Iceland just sentenced another five high level bankers to prison for directly contributing to the collapse of the country’s economy in 2008.
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26 bankers already sentenced to a combined 74 years in prison
icelandmag.visir.is | November 3, 2015
In two separate rulings last week, the Supreme Court of Iceland and the Reykjavík District Court sentenced three top managers of Landsbankinn and two top managers of Kaupþing, along with one prominent investor, to prison for crimes committed in the lead-up to the financial collapse of 2008. With these rulings the number of bankers and financiers who have been sentenced to prison for crimes relating to the financial collapse has reached 26, and a combined prison time of 74 years.
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Text of the Secondary Mortgage Market Enhancement Act of 1983 allowed the flood gates to open for MBS
November 3, 2015
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