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June 15, 2017

SEC/DOJ go after MBS Traders for Fraud- while the Big Bank Instigators go Free

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By Ben Lane/Housing Wire Former Nomura RMBS trader found guilty of securities, wire fraud conspiracy Nearly two years ago, the Securities and Exchange Commission and the U.S. Attorney’s Office for the District of Connecticut charged three former Nomura Securities International residential mortgage-backed securities traders with fraud, alleging that they “repeatedly lied” to customers about the pricing information …

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Nationwide Title Clearing: Custom-made Assignments so you can illegally Foreclose!

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by KK MacKinstry Investigator Bill Paatalo discovered a disturbing article written by Michael O’Connell, the COO for Nationwide Title Clearing, a company that creates tens of thousands of assignments as a third-party contractor.  O’Connell erroneously claims in his article that, “assignments simply reflect the transfer of servicing rights from one servicer to another.”   O’Connell is …

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NYT: Wells Fargo Pattern of Filing False Documents with Federal Court

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It’s nice to see Gretchen Morgenson back on the beat of financial fraud. We need more exposure to what everyone who has battling foreclosures already knows — that virtually all of the documents relied upon by would-be foreclosers are false, fraudulent, fabricated and forged. These revelations appear to be the only way judges will stop …

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