Lenders Increasingly Facing Forensic Loan Audits
For the past couple of years, it has become a fairly common practice for lenders and servicers to employ forensic loan audits on pools of mortgages, with the goal of uncovering patterns of noncompliance with federal and local regulations, the presence of fraud and/or the testing of high fee violations. Unfortunately, for these same lenders, [...]
Read Full Post | Make a Comment ( None so far )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, [...]
Read Full Post | Make a Comment ( 1 so far )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 [...]
Read Full Post | Make a Comment ( 1 so far )U.S. partners in home loan modifications accused of broad abuses
WASHINGTON — Billions of dollars that the government is spending to help financially pressed homeowners avert foreclosure are passing through — and enriching — companies accused of preying on the people they are supposed to help, an Associated Press investigation has found.The companies, known as mortgage servicers, collect monthly payments from homeowners and funnel the [...]
Read Full Post | Make a Comment ( None so far )Why banks want you all alone when negotiating a loan modification
They are telling you to run away from loan modification companies who charge a fee. They are paying the politicians to introduce laws making it difficult for you to hire an attorney when negotiating a loan workout. They want you to contact them directly and without the assistance of an advocate. They are scaring you [...]
Read Full Post | Make a Comment ( 1 so far )States gain more power over banks
Reporting from Washington — The Supreme Court ruled Monday that states could enforce some of their consumer protection laws against national banks, a move that could lead to tougher oversight than federal regulators have provided in recent years. The 5-4 decision in a case involving attempts by New York’s attorney general to enforce fair-lending laws [...]
Read Full Post | Make a Comment ( 2 so far )Melfi v. WMC Mortg. Corp
APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF RHODE ISLAND. Hon. Mary M. Lisi, U.S. District Judge. Melfi v. WMC Mortg. Corp., 2009 U.S. Dist. LEXIS 1454 (D.R.I., Jan. 9, 2009) DISPOSITION: Affirmed. COUNSEL: Christopher M. Lefebvre with whom Claude F. Lefebvre and Christopher M. Lefebvre, P.C. were on brief for appellant. [...]
Read Full Post | Make a Comment ( None so far )Mortgage Wars
Iris Martin My new book, Mortgage Wars, will guide you, step by step, through a war plan of engagement that has been followed by many homeowners who have won their mortgage wars. You will meet them and their attorneys throughout the book. You will learn about how you were defrauded and why; why the government [...]
Read Full Post | Make a Comment ( 3 so far )Homeowners should be suing lenders!
Homeowners, welcome to Paradise Lost, the fate of millions of financially strapped boomers. A simultaneous loss of life savings, job income and foreclosure has many of them wondering, “Whose America is this, anyway? The bankers got bonuses to defraud us, and our industries and economy are in the pits. We worked for decades to live [...]
Read Full Post | Make a Comment ( 4 so far )A Case for Economic Democracy
This lecture was delivered on March 25, 2009, at Union Theological Seminary in a public forum, “Christianity and the U.S. Crisis,” associated with a class co-taught by Cornel West, Serene Jones, and Gary Dorrien. It is an abridged version of a chapter in Dorrien’s forthcoming book, Social Justice in Question: Economy, Difference, Empire, and Progressive [...]
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