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Debt Collection

Federal Judge Slams Wells Fargo for Violation of Debt Collector's Act in Florida

6 Comments / CASES, Corruption, foreclosure, GARFIELD KELLEY AND WHITE, investment banking, Investor, Mortgage, Motions, Pleading, Servicer, Trust Beneficiaries, trustee / By

  EDITOR’S NOTE: this is why I am encouraging attorneys to take cases involving foreclosure, even if the foreclosure itself is problematic. The FDCPA federal counterpart essentially states the same rules. These cases allow for damages and recovery of attorney fees that might aid in the cost of protracted litigation by a pretender lender. Most …

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What Do Those Losses at Fannie and Freddie Mean?

25 Comments / bubble, Corruption, Eviction, expert witness, Fannie MAe, foreclosure, foreclosure mill, GTC | Honor, HERS, investment banking, Investor, Modification, Mortgage, Motion Practice and Discovery, securities fraud, Servicer, Statutes, trustee / By

Editor’s Note: While the courts hear arguments and decide this way and that about standing and real party in interest, the elephant in the living room is that we have highly publicized reports of LOSSES associated with more than $5 trillion in loans bought or guaranteed by Fannie and Freddie. That amounts to around 25 …

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MERS ARTICLE REVEALS INHERENT FLAWS

1 Comment / bubble, CDO, Corruption, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

see FORECLOSURE_SUBPRIME_MORTGAGE_LENDING_AND_MERS1 Editor’s Note: This appears to be public domain. The article is excellent in its analysis of MERS. Here is the Table of Contents: FORECLOSURE, SUBPRIME MORTGAGE LENDING, AND THE MORTGAGE ELECTRONIC REGISTRATION SYSTEM Christopher L. Peterson* TABLE OF CONTENTS I. THE AMERICAN REAL PROPERTY RECORDING SYSTEM II. THE ORIGIN AND OPERATION OF MERS …

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Violation of the Fair Debt Collection Practices Act (“the FDCPA”)

5 Comments / Eviction, foreclosure, GTC | Honor, Modification, Mortgage, securities fraud / By

From Sal Danna: When Countrywide took over the servicing from Greenpoint, the loan was already in default which automatically makes Countrywide a debt collector. If it was not in default, then a loan servicer is not considered a debt collector.  When I received the first letter from Countrywide, it contained the standard “This is an …

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