Fannie Mae to rent out homes instead foreclosing
Fannie Mae to rent out homes instead foreclosing
By ALAN ZIBEL (AP) – 4 hours ago
WASHINGTON — Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.
The government-controlled company, through its new “Deed for Lease” program, will allow borrowers to transfer [...]
Mortgage Assignment & Affidavit Fraud
In bankruptcy and government takeovers of financial institutions, missing collateral is a major obstacle for trustees and regulators to overcome. The missing assignment problem is an extension of not carelessness or sloppiness as many have claimed, but of overt acts of fraud.
Skilled attorneys and forensic accounting experts could expose this fraud and as such, the [...]
Deutsche Bank v. Debra Abbate Etal.
Deutsche Bank National Trust Company, AS TRUSTEE FOR THE CERTIFICATE HOLDERS OF CARRINGTON MORTGAGE LOAN TRUST 2005-OPT2, ASSET-BACKED CERTIFICATES, SERIES 2005-OPT2, Plaintiff
against
Debra Abbate, CARMELA ABBATE, KIM FIORENTINO, BOCCE COURT HOMEOWNERS ASSOCIATION, INC., NEW YORK CITY ENVIRONMENTAL CONTROL BOARD, NEW YORK CITY TRANSIT ADJUDICATION BUREAU, NEW YORK CITY PARKING VIOLATIONS BUREAU, and “JOHN DOE No. 1″ [...]
The next financial tsunami unleashed by toxic mortgages
By PAM MARTENS
The financial tsunami unleashed by Wall Street’s esurient alchemy of spinning toxic home mortgages into triple-A bonds, a process known as securitization, has set off its second round of financial tremors.
After leaving mortgage investors, bank shareholders, and pension fiduciaries awash in losses and a large chunk of Wall Street feeding at the [...]
New law denies homeowners access to legal representation
California has a new law on the books that bans collection of advance fees from firms that provide loan modification services to people struggling to avoid foreclosure.
Other real estate related bills signed into law this month by Gov. Arnold Schwarzenegger aim to crack down on abusive lending practices by mortgage brokers; provide more safeguards for [...]
Lawyers Tempted By Foreclosure Crisis
The foreclosure crisis has resulted in a lot of work for lawyers hired to try to help struggling owners hang onto their homes.
But it has also resulted in a record number of complaints concerning claimed unscrupulous practices, some of which have already led to disciplinary action, according to a Daily Business Review article reprinted in [...]
Marcy Kaptur to Banks: “Produce The Note”
Fight Club entered popular culture in 1999 when director David Fincher adapted Chuck Palahniuk’s novel into a film that reflected the zeitgeist of modern America with its empty culture, obsession with aesthetic beauty, and slavish under and middle classes.
Warning: Decade-old spoiler coming up.
The film ends with the agents of “Project Mayhem,” protagonist Tyler Durden’s followers, [...]
MERS v. Southwest Homes of Arkansas
MORTGAGE ELECTRONIC REGISTRATION SYSTEM, INC., APPELLANT, VS. SOUTHWEST HOMES OF ARKANSAS, APPELLEE
No. 08-1299
SUPREME COURT OF ARKANSAS
2009 Ark. LEXIS 121
March 19, 2009, Opinion Delivered
NOTICE:
THE LEXIS PAGINATION OF THIS DOCUMENT IS SUBJECT TO CHANGE PENDING RELEASE OF THE FINAL PUBLISHED VERSION.
SUBSEQUENT HISTORY: Rehearing denied by Mortgage Elec. Registration Sys. v. Southwest Homes of Ark., Inc., 2009 Ark. [...]
Loan modifications growing
The Obama administration said Wednesday it is on track to secure 500,000 trial loan modifications for struggling homeowners by Nov. 1, as both the number of participating mortgage companies and the number of offers extended under the Home Affordable Modification Program increased last month.The second report from the Treasury Department on its $75 billion mortgage [...]
Read Full Post | Make a Comment ( None so far )DEUTSCHE BANK NATIONAL TRUST COMPANY v. ROLANDO CAMPBELL, et al.
Deutsche Bank has some explaining to do. Why would they buy a nonperforming loan from MERS 142 days after a payment default?
The instant foreclosure application states that defendant CAMPBELL defaulted on his mortgage payments by failing to make his April 1, 2007 and subsequent monthly loan payments. Yet, on August 20, 2007, 142 days subsequent [...]
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