Let them eat cake: Ex-Countrywide exec takes family on African Vacation … on Countrywide’s jet Posted Aug 3rd 2008 11:40AM by Julie Tilsner Filed under: Bank of America (BAC), Countrywide Financial (CFC), Rich in America Some things never change. David Sambol, the out-going president of kaput mortgage giant Countrywide Financial Corp., is taking his family …
August 4, 2008 20 MILLION HOMES TO HAVE NEGATIVE EQUITY Housing Lenders Fear Bigger Wave of Loan Defaults By VIKAS BAJAJ The first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building. Homeowners with good credit are falling behind on their payments …
20 MILLION HOMES TO HAVE NEGATIVE EQUITY — THE RESULT OF LENDER INDUCED APPRAISAL FRAUD Read More »
QUESTION/COMMENT: ANSWERS IN BOLD A client in NorCal was referred to me. She took out an 80/20 loan first and second for about $650,000 total in 2005. She has paid over $150,000 towards interest, payments and fees. SEE APPRAISAL FRAUD, CNN ARTICLE FOR 2005, APPRAISAL FORUM SPEECH FROM 2006, RECENT POSTS. TITLE COMPANY/TRUSTEE, LENDER AND …
FORECLOSURE DEFENSE AND OFFENSE DISCUSSED: APPRAISAL FRAUD Read More »
> Date: Mon, 4 Aug 2008 14:56:30 +0000 > To: ngarfield@msn.com > Subject: [Livinglies’s Weblog] Comment: “Mortgage Meltdown: Foreclosure Offense or Defense in Trustee or Non-Judicial Sales “Comment: > In Michigan, the trustee CANNOT postpone the sale to another time. There is NO statute allowing them to do that. However, the mortgagee can postpone the …
more than 8,000 appraisers – roughly 10 percent of the industry – have signed a petition asking the federal government to take action. “There are a lot of people who have refinanced for more than their homes are actually worth and they’re effectively already upside down even without a real estate bubble bursting,” said Callahan. …
“Fraud is an intentional and material misrepresentation. A faulty or even fake appraisal is at the basis of most fraudulent mortgage transactions.” Most Fraud Charges Not Investigated by Lew Sichelman October 18, 2006 A lack of enforcement at the state level is a major reason appraisals remain at the root of mortgage fraud, said panelists …
