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There is an old saying on Wall Street that “Bulls make money, Bears make money but Pigs never do.” The obvious circumstances of Chase claiming ownership to nonexistent loan portfolios contained within WAMU coupled with the admission in this letter to the FDIC, shows just how arrogant Chase felt when they informed the FDIC that […]
If only all courts would entertain the possibility that everything presented to them should be the subject of intense scrutiny, 90%+ of all foreclosures would have been eliminated. Imagine what the country would look like today if the mortgages and fraudulent foreclosures failed. The Banks say that if the mortgages failed they all would go […]
It is good that there was a finding that HSBC was found to have engaged in “faulty” foreclosure practices. What is not so good is that there is a direct or implied suggestion that HSBC is now operating within the rules and laws protecting borrowers, consumers and homeowners. That simply is not true. It is […]
The stakes could not be higher. Mnuchin’s ascension to the position of Secretary of the Treasury is literally installing a person who will merely respond to the direction of the Wall Street bankers and who will be largely unresponsive to whoever occupies the Oval Office. This is a terrible decision and the resistance to him […]
Documents show that state prosecutors and Treasury Department regulators believed Steve Mnuchin’s bank was mishandling foreclosures at the height of the financial crisis. Alexia Fernández Campbell In 2011, at the peak of the housing crisis, regulators for the Treasury Department ordered Steve Mnuchin and directors at OneWest Bank in California to fix the bank’s […]
Thursdays LIVE! Click in to the The Neil Garfield Show Or call in at (347) 850-1260, 6pm Eastern Thursdays NEW MAIN NUMBER: 202-838-NEIL (6345). Get a Consult! In this episode Los Angeles based attorney Patricia Rodriguez joins Neil Garfield to discuss Pre-Litigation concerns for homeowners facing foreclosure. Pre-litigation and litigation concerns include: 1.) […]
http://money.cnn.com/2017/01/04/news/mnuchin-onewest-california-memo/ California investigators wanted to file a lawsuit in 2013 against a bank owned by Steven Mnuchin, President-elect Donald Trump’s pick to run the Treasury Department, for misconduct during foreclosures, according to an internal memo obtained by CNN. The memo and a draft civil complaint accused the bank, OneWest, of backdating thousands of documents, violating […]
Mnuchin is a highly paid gopher. He has made his money not by his business acumen but by his willingness to do anything for money. That included putting himself on the front line of one piece of the greatest economic crime in human history. Nominating him for Treasury Secretary is a direct slap in the […]
There is a difference between the note contract and the mortgage contract. They each have different terms. And there is a difference between those two contracts and the “loan contract,” which is made up of the note, mortgage and required disclosures.Yet both lawyers and judges overlook those differences and come up with bad decisions or […]
By Renae Merle When the Obama administration announced a massive effort to help distressed homeowners in 2009, it set high expectations. The program, government officials said, would keep up to 4 million borrowers out of foreclosure. “It will give millions of families resigned to financial ruin a chance to rebuild,” President Obama said at an event announcing […]
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