Editor's Note: Right before the housing bubble burst in 2008 the American public was being told by the media and government that the economy was sound.  We are now in the 9th year of an artificial recovery.  If you look at the real economic indicators, we are at the tipping point that will likely make the 2008 Bubble look like…[...]

Continue Reading

Posted in Uncategorized |

Authored by Bonner & Partners' Bill Bonner, annotated by Acting-Man's Pater Tenebrarum, Don’t Be Fooled by These Calm Markets What is happening in the world of money? Well – the most striking thing is: nothing. It doesn’t seem to matter what happens. Dysfunction in Washington. Meltdown of the techs. No matter how rough the seas get, the markets glide along… scarcely…[...]

Continue Reading

Posted in Uncategorized |

What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak http://www.zerohedge.com/news/2017-06-16/what-housing-recovery-real-home-prices-still-16-below-2007-peak Since the financial crisis, home equity has gone from being America’s biggest driver of (illusory) wealth to one of the biggest sources of economic inequality. And while the post-crisis recovery has returned the national home price index to its highs from early 2007, most of this rise was…[...]

Continue Reading

Tags: Harvard's State of Housing Report 2017, housing
Posted in Uncategorized |

Treasury Report Recommends Keeping Data From Consumers Grace Donnelly Jun 14, 2017 An agency created to protect the interests of American consumers may be gutted by the Trump administration's pursuits to cut back federal regulations. The Consumer Financial Protection Bureau, which was created by the Dodd-Frank measures to hold financial institutions accountable for customer grievances about their products, is the…[...]

Continue Reading

Tags: CFPB, Department of the Treasury
Posted in Uncategorized |

Sen. Grassley asks DOJ to consider clawing back funds June 16, 2017 Ben Lane Earlier this month, the Trump administration’s Department of Justice put a stop to an Obama administration tactic of dictating that some companies send settlement funds to unaffiliated third parties, a practice that Republicans criticized as a “slush fund” operation. Several top Republicans, including House Financial Services…[...]

Continue Reading

Tags: National Mortgage Settlement
Posted in Uncategorized |

By Ben Lane/Housing Wire https://www.housingwire.com/articles/40445-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 of mortgage bonds and defrauded customers out of millions of dollars. Earlier this year, the…[...]

Continue Reading

Tags: MBS
Posted in Uncategorized |

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 incorrect.  Mortgage assignment reflects a…[...]

Continue Reading

Tags: nationwide title clearing
Posted in Uncategorized |

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 allowing presumptions of false facts…[...]

Continue Reading

Posted in Uncategorized |

https://theintercept.com/2017/06/13/the-real-threat-to-wall-street-reform-is-the-treasury-department-not-congress/ The Real Threat To Wall Street Reform Is The Treasury Department, Not Congress David Dayen June 13 2017, 5:29 p.m. The Treasury Department’s first report recommending changes to the financial regulatory system wildly differs from the plan to dismantle Dodd-Frank that House Republicans passed — and the Trump administration endorsed — just last week. In fact, the report attacks the…[...]

Continue Reading

Tags: DAVID DAYEN, Dodd-Frank, the intercept
Posted in Uncategorized |

Editor's Note: Wells Fargo is a lawless operation that exploits unsuspecting consumers by opening accounts in their name without permission, and modifying and foreclosing on homes it doesn't own with fabricated notes and fraudulent documents.   Not to mention participating in identity theft and accessing credit reports without authorization. Meanwhile, for the most part, Wells Fargo operates above the law…[...]

Continue Reading

Tags: GRETCHEN MORGENSON, Wells Fargo
Posted in Uncategorized |