AIG breaks into mortgage securitization big-time with high quality first offering
AIG breaks into mortgage securitization big-time with high quality first offering When American International Group sold its mortgage-guaranty unit United Guaranty to Arch Capital Group last year, the company said that it planned to turn to residential mortgages to...
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CenturyLink Is Accused of Running a Wells Fargo-Like Scheme
CenturyLink Is Accused of Running a Wells Fargo-Like Scheme A former CenturyLink Inc. employee claims she was fired for blowing the whistle on the telecommunications company’s high-pressure sales culture that left customers paying millions of dollars for accounts they...
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JPMorgan Chase Is Biased Against Dads, ACLU Complaint Says
JPMorgan Chase Is Biased Against Dads, ACLU Complaint Says The American Civil Liberties Union is accusing JPMorgan Chase & Co. of violating the Civil Rights Act by discriminating against fathers when they ask for parental leave. The ACLU filed its complaint...
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Wells Fargo Is Accused of Making Improper Changes to Mortgages
Wells Fargo Is Accused of Making Improper Changes to Mortgages Even as Wells Fargo was reeling from a major scandal in its consumer bank last year, officials in the company’s mortgage business were putting through unauthorized changes to home loans held by customers...
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Bank of America agrees to pay $2M over customer recorded calls
Bank of America agrees to pay $2M over customer recorded calls SAN DIEGO – Bank of America will pay nearly $2 million to settle a lawsuit alleging it violated state law by failing to timely disclose its automatic recording of phone calls with members of the public,...
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How you can find favor with judges
How you can find favor with judges Get your way the Right Way! Having a judge rule against you because he doesn't "like" you isn't a good thing! It helps to have the judge "on your side". But! There's only ONE WAY to get a judge's favor. Know what you're doing, do it...
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CFPB Is Probing Wells Fargo’s Mortgage Practices
CFPB Is Probing Wells Fargo’s Mortgage Practices The Consumer Financial Protection Bureau is conducting an investigation into alleged improprieties in Wells Fargo’s mortgage fee practices. The CFPB is looking into allegations, first reported by ProPublica in January,...
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Deutsche Bank reaches $95 million RMBS settlement with Maryland
Deutsche Bank reaches $95 million RMBS settlement with Maryland The state of Maryland announced last week that it reached a $95 million settlement with Deutsche Bank over claims that Deutsche Bank misled investors about its securitization and sale of residential...
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New York City cuts ties with Wells Fargo
Earlier this year, reports began to emerge that New York City was considering becoming the next in a string of cities and states that cut ties with Wells Fargo in the wake of the bank’s fake account scandal. And Wednesday, that’s exactly what happened, as New York...
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Federal Reserve Board announces $41 million penalty and consent cease and desist order against Deutsche Bank AG
Federal Reserve Board announces $41 million penalty and consent cease and desist order against Deutsche Bank AG The Federal Reserve Board on Tuesday announced a $41 million penalty and consent cease and desist order against the U.S. operations of Deutsche Bank AG for...
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FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update May 30, 2017
FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update May 30, 2017 Settlements on Appeal Joseph L.S. St. Amant The Dispute Resolution Pyramid Table 18, Page 76 of THE INSIDER’S GUIDE TO FIFTH CIRCUIT INTERNAL PROCEDURES Everybody understands that...
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Wells Fargo $142 Million Dollar Account-Scandal Settlement
Wells Fargo Must Fully Compensate Victims in Account-Scandal Settlement SAN FRANCISCO (CN) – Wells Fargo must guarantee full compensation and credit history repairs for an estimated 2.73 million victims of its sham accounts scandal before a judge will approve a...
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California district court upholds constitutionality of CFPB
California district court upholds constitutionality of CFPB A U.S. district court judge in the Central District of California defended the constitutionality of the Consumer Financial Protection Bureau after rejecting multiple challenges to the bureau’s authority to...
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Wells Fargo scandal may force New York City to find new bank
Wells Fargo scandal may force New York City to find new bank City rules may require New York to yank its deposits from Wells Fargo, one of 20 banks approved to hold the city’s cash. A commission is set to meet next week to decide which banks are approved for city...
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FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update May 23, 2017
FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update May 23, 2017 Revised UCC Article 9, IRC 1031 Like Kind Exchange Transactions, and Liens on Real Property. Did the lien’s beneficial interest maintain perfection, and was it therefore eligible to be...
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Citigroup Agrees to $97.4 Million Settlement in Money Laundering Inquiry
Citigroup Agrees to $97.4 Million Settlement in Money Laundering Inquiry But no jail time… For years, Citigroup employees feared that millions of dollars the bank was moving to Mexico might be suspicious. Yet in many cases, the bank did not alert regulators or step up...
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Las Vegas: Sin City Harbors A New Kind Of Crime Ring
TOPICS:CorruptionJanet PhelanJustice May 17, 2017 By Janet Phelan Las Vegas. These words conjure up visions of glitz, glam, glitter and fabulous wealth. And behind Vegas’s casino culture have always lurked rumors of laundered money and organized crime. The Mob’s...
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$142M Wells Fargo Deal Moves Forward Despite Objections
$142M Wells Fargo Deal Moves Forward Despite Objections SAN FRANCISCO (CN) – A federal judge said Thursday he will likely approve a $142-million Wells Fargo settlement, despite objections that the deal lets the bank off easy for opening millions of unauthorized...
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HSBC : settles bondholders’ claims of Libor manipulation
HSBC : settles bondholders’ claims of Libor manipulation HSBC Holdings Plc has settled claims by a group of U.S. bondholders that it conspired with rivals to rig the Libor benchmark interest rate, according to a New York court filing on Monday by the bondholders’...
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Philadelphia sues Wells Fargo over discriminatory lending
Bad news for Wells Fargo… Housingwire: The city of Philadelphia announced Monday that it is suing Wells Fargo for alleged discriminatory lending practices against minority borrowers. Philadelphia’s announcement specifically cites the recent Supreme Court decision,...
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FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update May 16, 2017
FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update May 16, 2017 From THE PAPER CHASE, Pages 50-51, Adam Levitin. “Even in cases in which there is not a preexisting junior mortgage on the same property, the depositor lapse in MERS’s common-agency system...
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Supreme Court rules cities can sue banks for predatory lending
Supreme Court rules cities can sue banks for predatory lending Hands partial victory to Miami in suits against Bank of America, Wells Fargo The Supreme Court handed down a landmark ruling, stating cities can sue banks for discriminatory mortgage lending practices, but...
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Wells Fargo bogus accounts balloon to 3.5 million: lawyers
Wells Fargo bogus accounts balloon to 3.5 million: lawyers Wells Fargo & Co may have opened as many as 3.5 million unauthorized customer accounts, far more than previously estimated, according to lawyers seeking approval of a $142 million settlement over the...
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Texas orders Ocwen to stop acquiring new mortgage servicing rights
Texas orders Ocwen to stop acquiring new mortgage servicing rights The Texas Department of Savings and Mortgage Lending recently ordered Ocwen Financial Corporation to cease and desist, adding its name to a growing list of states and regulators coming after the...
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MERS wins in four Pennsylvania county lawsuits
MERS wins in four Pennsylvania county lawsuits The Commonwealth Court of Pennsylvania, by a majority opinion, ruled in MERS’ favor in four lawsuits filed by the Recorders of four Pennsylvania Counties (Delaware, Berks, Bucks and Chester), locking in another victory...
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New York Court Quietly Moves to Toss Out Hundreds of Foreclosure Cases
New York Court Quietly Moves to Toss Out Hundreds of Foreclosure Cases BROOKLYN — Kings County Supreme Court is about to quietly dismiss thousands of foreclosure cases on Tuesday — in what lawyers say will deal a severe blow to homeowners with pending cases. The court...
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Judge Skewers Wells Fargo at Hearing on Phony-Accounts Scandal
Judge Skewers Wells Fargo at Hearing on Phony-Accounts Scandal SAN FRANCISCO (CN) — A federal judge Thursday appeared skeptical of Wells Fargo’s claim that its board of directors was unaware of the scope of the phony accounts scandal that already has cost the bank...
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Chinese group becomes biggest shareholder of Deutsche Bank as investors revolt
Chinese group becomes biggest shareholder of Deutsche Bank as investors revolt Conglomerate HNA has upped its stake in the bank to 9.92 percent as a result of a voting rights announcement and share package worth £2.8billion (€3.4bn). The Chinese have replaced the...
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Maria Bartko charged with running a $1.4 million mortgage fraud scheme turns government witness
Co-Defendant Likely To Testify Against Ill. Judge, Feds Say By Diana Novak Jones Law360, Chicago (May 4, 2017, 5:10 PM EDT) -- The co-defendant of an Illinois state judge charged with running a $1.4 million mortgage fraud scheme is cooperating with the government and...
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How the FHA May Impact the Supreme Court Foreclosure Ruling
How the FHA May Impact the Supreme Court Foreclosure Ruling In a 5-3 decision on Monday, the U.S. Supreme Court determined that cities can sue banks over lost tax revenue on foreclosed properties from urban blight. Law360 reported that Miami has the standing to sue...
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Massachusetts sues Ocwen for “abusive” mortgage servicing practices
Massachusetts sues Ocwen for “abusive” mortgage servicing practices Ocwen fought back against Massachusetts’ regulations, asking a court to restrain the state’s cease and desist order because it would “cause significant harm” to its customers in the state. But, the...
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The city of Philadelphia just gave Wells Fargo its walking papers
The city of Philadelphia just gave Wells Fargo its walking papers Wells Fargo has lost the contract it held for Philadelphia’s $2 billion payroll account. The bank’s public standing continues to suffer even as it has sought to correct problems tied to the fake-account...
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FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update May 2, 2017
FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update May 2, 2017 The following snippets are from the affidavit of Walker F. Todd an attorney and legal officer for the legal Departments of the Federal Reserve Banks of New York and Cleveland. Banks are...
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Miami Lawsuit Against Mortgage Lenders Survives High- Court Review
Miami Lawsuit Against Mortgage Lenders Survives High- Court Review WASHINGTON — The Supreme Court handed a partial victory to the city of Miami Monday, ruling it was authorized to bring lawsuits alleging Bank of America Corp. and Wells Fargo & Co. engaged in...
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UBS, BNP, RBS get subpoenas in U.S. Treasuries probe – Bloomberg
UBS, BNP, RBS get subpoenas in U.S. Treasuries probe – Bloomberg U.S. federal prosecutors subpoenaed several banks last month as part of a criminal investigation into possible manipulation of the U.S. Treasuries market, Bloomberg reported on Monday. The banks include...
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Kentucky Law Journal Article Cites Accountability for Lawyers Who Wrote Securitization Documents
Kentucky Law Journal Article Cites Accountability for Lawyers Who Wrote Securitization Documents Posted on April 27, 2017 by Neil Garfield "Back at the beginning of creating the false pyramid of “Securitization” 9 lawyers in the New York metropolitan area...
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OCWEN FILES MOTIONS FOR RESTRAINING ORDERS AND INJUNCTIONS AGAINST ILLINOIS AND MASSACHUSETTS MORTGAGE REGULATORS
OCWEN FILES MOTIONS FOR RESTRAINING ORDERS AND INJUNCTIONS AGAINST ILLINOIS AND MASSACHUSETTS MORTGAGE REGULATORS WEST PALM BEACH, Fla., April 25, 2017 (GLOBE NEWSWIRE) — Ocwen Financial Corporation, (NYSE:OCN) (Ocwen or the Company), today announced the filing of two...
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Ocwen pulls a PHH: Asks court to declare CFPB unconstitutional, requests DOJ help
Ocwen Financial is pulling a PHH. Just as PHH did recently, Ocwen is playing the unconstitutional card in its fight against the Consumer Financial Protection Bureau, asking the United States District Court for the Southern District of Florida to declare the CFPB...
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U.S. Bank fined $15 million for bankruptcy filing violations
The Office of the Comptroller of the Currency announced Tuesday that it is ordering U.S. Bank National Association to pay a civil penalty of $15 million for what it calls “bankruptcy filing violations” that occurred between 2009 and 2014. According to the OCC, an...
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FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update April 25, 2017
65 SIGNS THAT YOUR FORECLOSURE DOCUMENTS COULD BE FRAUDULENT The Mortgage or Deed of Trust is assigned from the Originator directly to the Trustee for the Securitized Trust. 2. The Mortgage or Deed of Trust is assigned months and sometimes years after the...
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Maryland bans Ocwen from operating in the Free State.
Housingwire: Maryland’s action, taken by the state’s Commissioner of Financial Regulation, is, in the words of a HousingWire tipster, a “doozy.” Maryland’s cease-and-desist order, which can be read in full here, presents a laundry list of Ocwen’s supposed failings,...
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If Ocwen is (or was) Your Servicer Take Action Now!
If Ocwen is (or was) Your Servicer Take Action Now! Ocwen has admitted that its mortgage servicing policies and loan processing systems are a “train wreck”. As regulators and the Consumer Fraud Protection Bureau (CFPB) set their sights Ocwen, we recommend that FRAUD...
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Trump signs memorandum on Dodd-Frank’s orderly liquidation authority
Trump signs memorandum on Dodd-Frank’s orderly liquidation authority Housingwire: Unlike a broader past executive order designed to roll back the Dodd-Frank Wall Street Reform Act, the landmark legislation passed in wake of the financial crisis, Friday’s executive...
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A detailed breakdown of Ocwen’s new restrictions by state
Massachusetts put Ocwen out of business. Here are the rest of the states.. Housingwire: Below is a list of the remaining states with relevant passages about each state’s restrictions on Ocwen: Arkansas – Arkansas Securities Commissioner, B. Edmond Waters, issued a...
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CFPB, Florida Sue Ocwen For Mortgage Servicing Issues
CFPB, Florida Sue Ocwen For Mortgage Servicing Issues Share us on: By Evan Weinberger Law360, New York (April 20, 2017, 5:02 PM EDT) -- The Consumer Financial Protection Bureau on Thursday sued mortgage servicer Ocwen Financial Corp. in Florida federal court...
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How many whistle-blowers did the Feds ignore? In the Wells Fargo case about 700.
Wow! There were multiple red flags and missed signals at the OCC for years, the bank’s main regulator, the report said. Most tellingly, bank examiners assigned to review Wells Fargo were aware of approximately 700 whistle-blower complaints related to “gaming of...
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Foreclosure, Liberty, Justice, & The Rule of Law
Liberty, Justice, & The Rule of Law I have a T-shirt that says "Freedom is not Free!" Patrick Henry said, "Give me Liberty or give me death!" Liberty is what we seek. • Liberty to own a home. • Liberty to run a business. • Liberty to enjoy life. But,...
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OCC blames itself for not investigating Wells Fargo sooner for Foreclosure Fraud
If you are in foreclosure and you have a loan with Wells Fargo you should know that a federal regulator on Wednesday criticized its oversight of Wells Fargo’s sales practices, saying it failed to act quickly enough once it learned of problems at the San Francisco...
read more$5M Jury Award for Foreclosure Fraud Case
David Dayen Chain of Title: How Three Ordinary Americans Uncovered Wall Street's Great Foreclosure Fraud Hardcover – May 17, 2016 Click on book to purchase it right now! A Texas jury’s recent decision to award over $5 million in damages and fees for the fraudulent...
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FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update April 18, 2017
FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update April 18, 2017 100 INTRODUCTORY FACTS ABOUT MORTGAGE SECURITIZATION By LYNN E. SZYMONIAK, ESQ., ED., Fraud Digest (www.frauddigest.com) LISA EPSTEIN, www.foreclosurehamlet.org 1. Most mortgages in the...
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Nuns Take On Wells Fargo
Nuns Take On Wells Fargo In an insightful song about outlaws, Woody Guthrie wrote this verse: “As through this world I travel / I see lots of funny men / Some’ll rob you with a 6-gun / Some with a fountain pen.” The fountain pens are doing the serious stealing these...
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HSBC to pay $2 million to resolve U.S. civil loan fraud lawsuit
HSBC to pay $2 million to resolve U.S. civil loan fraud lawsuit HSBC Holdings Plc has agreed to pay about $2 million (1.60 million pounds) to settle a civil fraud lawsuit that alleged the bank improperly attempted to get reimbursement from the federally backed U.S....
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Local vet urges changes in Dept of Veterans Affairs rules on foreclosures
Local vet urges changes in Dept of Veterans Affairs rules on foreclosures SPARROWBUSH – Any day now, DJ Gonzalez will be escorted out of his home, and the doors will be locked behind him. Gonzalez, a 62-year-old Vietnam War veteran, is on the verge of homelessness,...
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Preparing for Hearings or Trial …
Preparing for Hearings or Trial ... Whether you're training for the Olympics or trying to win a case in court, winners know they must exercise, prepare themselves, and be ready for competition. Most court cases can be won before trial. Our course will show you: Proper...
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OneWest And Force-Placed Insurance Class Actions
OneWest Bank, the mortgage servicer previously owned by Treasury Secretary Steven Mnuchin, has been accused by homeowner groups of a type of foreclosure abuse involving lender-placed, or force-placed, insurance. Mortgage servicers are able to force insurance policies...
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The damning 2004 report that Wells Fargo chose to ignore
September 13, 2007 John Stumpf Wells Fargo Company 420 Montgomery St San Francisco CA 94301 Dear Sir, I sincerely regret the circumstances under which I am corresponding, Nine months ago, I reported unethical (and illegal) activity to Wells Fargo Regional Bank,...
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Judge won’t dismiss couple’s lawsuit against Wells Fargo
A federal judge won’t dismiss a Waynesboro’s couple lawsuit against Wells Fargo National Bank and two other companies alleging “deceptive, fraudulent and unconscionable” sales practices. Although U.S. District Judge Daniel Jordan III refused to dismiss Archie and...
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FRAUD STOPPERS PMA Mortgage Foreclosure Blog Update April 11, 2017
70 MILLION MORTGAGES ARE LEGALLY VOID! DO YOU HAVE ONE OF THEM? BANKS AND WALL STREET TRUSTS HELD ACCOUNTABLE FOR WRONGFUL ASSIGNMENT OF DEEDS OF TRUST! General Overview: Upwards of 70 million mortgage-loan-contracts are legally faulty. It has now been...
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Wells Fargo blames former retail division head for Wells Fargo sales scandal
Wells Fargo blames former retail division head for Wells Fargo sales scandal The report, carried out by board Chairman Stephen Sanger and three other independent directors and released to media on Monday, said former retail division head Carrie Tolstedt ignored the...
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You CAN Control Judges!
You CAN Control Judges! Learn how to show the judge an appellate court will reverse his decisions on appeal if he doesn't rule in your favor. Otherwise, the judge will rule as he pleases. If you let the judge think you don't know how to appeal, or won't be able to...
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Here’s why Wells Fargo forces its customers into arbitration: It wins most of the time
Here’s why Wells Fargo forces its customers into arbitration: It wins most of the time The fine print: portion of an arbitration clause from a Wells Fargo credit card agreement, which binds the customer to arbitrate almost any dispute with the bank and forbids...
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City of Missoula to pull $2.6M from Wells Fargo accounts
MISSOULA, Mont. (AP) — The Missoula City Commission has voted to pull $2.6 million of the city’s money from Wells Fargo accounts because the bank is invested in the Dakota Access Pipeline and because employees opened fraudulent customer accounts to generate fees and...
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How to Control Corrupt Courts, Judges, and Lawyers!
How to Control Corrupt Courts, Judges, and Lawyers! Law school teaches all sorts of things ... but not how to control judges nor how to overcome scheming tricks of crooked lawyers! Law school is not the real world. Law professors are too politically correct to teach...
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FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update April 04, 2017
To Sue, or Not to Sue, that is the question! If you have legal standing to sue your lender or loan servicer for mortgage or foreclosure fraud you should sue because you have a moral and legal obligation to do so. If you read the Borrowers Covenants Clause of...
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New York Court finds foreclosure past statutes of limitations and cancels Mortgage: Costa v. Deutsche Bank
New York Court finds foreclosure past statutes of limitations and cancels Mortgage: Costa v. Deutsche Bank costa-v-deutsche-bank-2017-03-29 New York enforces the statute of limitations for debt collection including mortgages. A federal judge has granted two New...
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Bank of America Foreclosure Almost Drove a Couple to the Brink of Death
"Franz Kafka lives… he works at Bank of America." Judge Christopher Klein's words kick off an incredible ruling in a federal bankruptcy court in California last week, condemning Bank of America for a long nightmare of a foreclosure against a couple named Erik and...
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Wells Fargo must face litigation on defective mortgages: U.S. judge
A federal judge on Thursday said Wells Fargo & Co (WFC.N) must face litigation seeking to hold it responsible for billions of dollars of claimed investor losses stemming from its alleged failures as a trustee overseeing risky residential mortgage-backed...
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Wells Fargo reaches $110 million class action settlement over fake accounts
Which is peanuts.. Earlier Tuesday, Wells Fargo announced that its Community Reinvestment Act rating is being downgraded by the Office of the Comptroller of the Currency, due in part to the bank’s fake account scandal that led to a $185 million fine from the Consumer...
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Bank Of America Ordered To Pay $46M Over Improper Foreclosure
Bank of America must pay $46 million for improperly foreclosing on a California couple’s home in 2010. U.S. Bankruptcy Court Judge Christopher Klein levied [PDF] the judgement against the bank this week, calling Bank of America’s actions in foreclosing on the...
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Ocwen now one giant step closer to acquiring MSRs again after new NYDFS agreement
For more than two years, Ocwen Financial has been prohibited from acquiring new mortgage servicing rights in bulk, thanks to the company’s $150 million settlementwith the New York Department of Financial Services. The news got a little better earlier this year when...
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“I cannot decide for you the moral obligations you should pursue; but if a wrong has been committed against you (such as a clouded title or a fraud resulting from a mortgage loan) you have the duty as an American property owner to correct it. Filing a lawsuit (in my book) reflects one’s personal responsibility.”.
Dave Krieger
Fraudstoppers PMA
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