November 25, 2016

Feds allow high-profile case against Bank of America to quietly fizzle out

Read more here: http://www.charlotteobserver.com/news/business/banking/bank-watch-blog/article116470198.html#storylink=cpy By Deon Roberts  The U.S. government let a high-profile mortgage case against Bank of America quietly fizzle out this week. The Department of Justice had until Monday to ask the U.S. Supreme Court to take up its “Hustle” lawsuit against the Charlotte-based bank. In May, the 2nd U.S. Circuit Court of …

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Ally $52 Million settlement for "Deficient Securitization"

All of these adjectives describing securitization add up to one thing: the claims were false. For the most part none of the securitizations ever happened. And that means that the REMIC trusts never purchased the debt, note or mortgage. And THAT means the “servicer” claiming the right to administer a loan on behalf of the …

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