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By K.K. MacKinstry The bank claims the fine amount is ‘unprecedented in its magnitude’ because Bank of America is routinely not punished for its criminal behavior. sundquist-opinion Bank of America Corp. requested a bankruptcy judge to reconsider the $45 million fine over its Kafkaesque treatment of a California couple who requested a loan modification, calling the […]
The LivingLies team The media is reporting that US housing starts, or the construction of a new house, fell more than expected in March. It is reported that buyer traffic is having the best run since 2009, and that consumers are facing stiff competition and a low supply if you’re shopping for a home. Where […]
THE DISCOVERY RULE: The Judge ruled that the Statute of Limitations (SOL) runs from the date of actual discovery — not when it should have been discovered and certainly not when the violation occurred. Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments. THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH […]
By Laura Tanner http://www.jdsupra.com/legalnews/florida-s-fourth-dca-holds-borrower-is-84740/ Florida’s Fourth DCA issued an opinion on April 12, 2017 in Nationstar Mortgage LLC v. Glass, No. 4D15-4561, following suit with the Third and Fifth DCAs in denying a borrower’s motion for attorney’s fees based on a provision in the subject mortgage after the borrower successfully argued for the dismissal of […]
The Federal Home Loan Bank of New York agreed to pay $70 million to the bankruptcy estate of Lehman Brothers to settle charges that the bank undervalued interest rate swaps it held with Lehman as the company collapsed in 2008. FHLBNY announced the settlement in a brief filing with the Securities and Exchange Commission. […]
https://seekingalpha.com/article/4062540-wells-fargo-get-past-behind John M. Mason It is remarkable how well Wells Fargo is performing given all that management is facing these days resulting from the “scandal” in the retail banking division. New leadership has been put in place, but there is still little evidence that “control” has been reestablished and a new culture has been implemented. […]
Editor’s Note: This article fails to mention that record-numbers of Americans who have been victimized by creditors no longer participate. Borrowers have been shafted by bankers, credit card companies, student loan servicers, auto lenders, insurers and the credit reporting industry. People are fed up with the lack of accountability and the inability to correct issues […]
By Ben Lane at Housingwire Citigroup continues moving away from mortgages as originations plummet Nearly finished with exit from mortgage servicing Citigroup first-quarter earnings show that the bank is continuing to move further and further away from mortgages and into other lines of business (The bigger question is why is Citi moving away from originating and […]
SEC “Cease & Desist” Reveals Deception – Wilmington Savings Fund Society, FSB as Trustee / “Transfer Agent” Was Acting On Behalf Of Unknown Investors Posted by Bill Paatalo on Apr 12, 2017 http://bpinvestigativeagency.com/sec-cease-desist-reveals-deception-wilmington-savings-fund-society-fsb-as-trustee-transfer-agent-was-acting-on-behalf-of-unknown-investors/ On September 22, 2016, the SEC issued the following “Cease & Desist” order against “Wilmington Savings Fund Society, FSB” who was the […]
Posted on April 14, 2017 by Yves Smith at Naked Capitalism In today’s lead story at the Financial Times, Big US banks defy calls that they should be broken up, American megabanks make clear that they don’t think much of the financial savvy of investors or the business press. In quarterly earning calls, bank analysts […]
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