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May 5, 2017

Wells Fargo targeted undocumented immigrants, stalked street corners, lawsuit claims

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By Kristine Phillips May 4 A man passes by a Wells Fargo bank in Oakland, Calif. (Ben Margot/AP) On “Hit the Streets Thursday,” Wells Fargo bankers and tellers, specifically those of Latino descent, scouted the streets and Social Security offices for potential clients. Their goal: Find undocumented immigrants, take them to a local branch and …

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Hang On! More properties underwater in the first quarter: Attom

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Seasonal factors contributed to an 89,000-unit increase in the number of seriously delinquent properties in the first quarter from the fourth quarter of 2016. The quarter ended with nearly 5.5 million homes seriously underwater, compared with 5.4 million at the end of the fourth quarter and 6.7 million for the first quarter of 2016. “There …

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Shrewsbury v Bank of NY Mellon: Genuine Issues of Fact exist

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For Ruling PDF click here: 2017-Shrewsbury v Bank of NY Mellon The recent Supreme Court of Delaware case J.M. Shrewsbury v. The Bank of New York Mellon, CA No. N15L-03-108 (Del. 2017), provides a reminder of the importance of clearly documenting the assignment of loan documents. The Court’s holding requires that prior to the assignee of a …

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CitiBank Whisteblower Richard Bowen: They’re Back! Fannie and Freddie Ride Again

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By Richard Bowen They’re Back! Fannie and Freddie Ride Again It looks as if Fannie Mae and Freddie Mac have not learned from their previous enabling of banks leading to the financial crisis. In fact, it looks as if the two are still using the same business model; they are lowering even further their underwriting …

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