Archive for 'Uncategorized' Category
http://www.fanniemae.com/portal/media/financial-news/2017/student-loan-debt-6546.html The massive student loan bubble the Feds created has resulted in a generation that is unable to afford a home like previous generations. Millenials are often not able to find a job that provides a living wage and the ones that bought into the hype that an over-priced college degree provides value often graduate […]
If you need some evidence that the echo-bubble in housing is global, take a look at this chart of Sweden’s housing bubble. http://www.zerohedge.com/news/2017-04-25/housings-echo-bubble-now-exceeds-2006-07-bubble-peak A funny thing often occurs after a mania-fueled asset bubble pops: an echo-bubble inflates a few years later, as monetary authorities and all the institutions that depend on rising asset valuations go […]
In this case the Bank was required to prove a chain of transfers starting with the indorsee, GreenPoint Mortgage to the current servicer. The Bank failed to prove the series of transactions through which it purportedly acquired the note from the indorsee and the judge ordered an involuntary dismissal. However, because this is Florida and […]
Bill Paatalo has written a heartfelt plea (see his post below) for at least one person to be relieved of stress that is about to literally kill her. In so doing he has again demonstrated his research and forensic skills as a private investigator and one more thing, his humanity. The link to internal emails […]
The CFPB complaint makes it easy for lawyers to put together private actions for violations of federal law and with few revisions violations of state law. You have a template here that will go a long way toward establishing credibility to homeowners who are victims of intentional malfeasance by servicers, master servicers, trustees and others. […]
By K.K. MacKinstry/LendingLies Anyone who is trying to find out information about the trust ownership of their loan, knows that if Fannie Mae or Freddie Mac are involved- your research hits a stone wall. Homeowners who have a mortgage not secured by the GSEs are better able to determine what trust their loan was allegedly […]
A deeper dive reveals what Ocwen can and can’t do going forward April 21, 2017 Ben Lane http://www.housingwire.com/articles/39932-heres-a-detailed-breakdown-of-ocwens-new-restrictions-by-state The servicing issues at Ocwen Financial are allegedly so widespread that some states are placing stricter restrictions on the nonbank, beyond freezing the company’s ability to acquire new mortgage servicing rights. On Thursday, a group of state […]
Ocwen is the bottom-feeder of mortgage servicing companies. Most survey’s rank Ocwen as the absolute worst in customer service and accountability including consumer research by J.D. Powers. Ocwen acts as a debt-collector and our experience at LendingLies is that Ocwen often cannot identify the true creditor or provide any documentation demonstrating who owns the loan. […]
By K.K. MacKinstry/Lendinglies During the Multi-State Mortgage Committee’s investigation, Ocwen made an accurate revelation when attempting to justify charges of mortgage servicing failures by claiming that its servicing policies are comparable to other mortgage loan servicing operations. Truer words have not been spoken, and the entire mortgage loan servicing industry is in shambles because servicers […]
The lawsuit against Ocwen is welcome, but should have happened four years ago. By David Dayen In December 2013, the Consumer Financial Protection Bureau and 49 states issued a $2.1 billion consent order against Ocwen, one of America’s largest mortgage companies, for “violating consumer financial laws at every stage of the mortgage servicing process.” Three […]
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