Around the U.S., deed theft has emerged as one of the most sophisticated and devastating frauds ever to menace homeowners. By MATT SEDENSKY http://www.wcvb.com/article/foreclosure-scams-are-stealing-victims-homes/9534919 NEW YORK —The phone call came as Raymond Murray neared the bottom of his luck. His wife had died, his career had been ended by injuries, and struggling to get by on his disability check, he…[...]
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by David McLaughlin and Matt Scully April 20, 2017, 12:53 PM EDT April 20, 2017, 6:44 PM EDT Shares of mortgage collection company tumble most on record Consumer Financial Protection Bureau alleges widespread errors Ocwen Financial Corp., one of the nation’s largest processors of consumer mortgage payments, was rocked Thursday by fresh allegations it mishandled accounts and in some cases illegally…[...]
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By K.K. MacKinstry, LendingLies CFPB claims "widespread errors, shortcuts, runarounds cost borrowers money, homes" Ocwen is in its death throes. Not only did 20 state banking regulators issue cease-and-desist orders but the Consumer Financial Protection Bureau also took action citing Ocwen Financial for “failing borrowers at every stage of the mortgage servicing process.” Ocwen Financial engages in predatory servicing. It…[...]
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By K.K. MacKinstry 20 states issued Cease-and-Desist orders against Ocwen Financial Corporation today and a lawsuit from the Consumer Financial Protection Bureau followed shortly thereafter. Mortgage regulators cited mismanagement of escrow accounts and poor financial conditions as reasons for the orders. Ocwen, a Florida-based company, was instructed not to acquire any new mortgage servicing rights and residential mortgages until it…[...]
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Whistleblower Richard Bowen: Barclays Bank Gets Its Hands Slapped… and What Does That Change!!!??
Apr 20, 2017
By Richard Bowenhttp://www.richardmbowen.com/barclays-bank-gets-its-hands-slapped-and-what-does-that-change/ Is getting its hands slapped a strong enough message? The latest in the bad bank sagas has the British bank, Barclays, red-faced. As it should. CEO Jes Staley has been reprimanded for attempting to discover the identity of an internal company whistleblower. Mr. Staley stated that he was trying to protect a colleague from what he considered…[...]
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http://inthesetimes.com/article/20044/the-fight-for-public-banking A Bank Even a Socialist Could Love The fight for public banking is gaining ground in cities and states across the country. BY David Dayen “We have Tea Partiers and Occupiers in the same room liking public banking. What does that tell you?” “Money is a utility that belongs to all of us,” says Walt McRee. McRee is a…[...]
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By David Dayen at Vice A married couple resorted to self-harm after being physically and psychologically terrorized by Bank of America over their house—until a judge fined the bank $46 million. https://www.vice.com/en_us/article/how-a-cruel-foreclosure-drove-a-couple-to-the-brink-of-death "Franz Kafka lives… he works at Bank of America." Judge Christopher Klein's words kick off an incredible ruling in a federal bankruptcy court in California last week, condemning…[...]
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http://www.dailybusinessreview.com/id=1202784059887/HSBC-Challenges-Foreclosure-Dismissal-Amid-Claims-of-Unclean-Hands BY Samantha Joseph/Daily Business Review, South Florida Things looked grim for HSBC Bank USA N.A. last year when it faced involuntary dismissal of its case after a bench trial and sanctions for prosecuting a foreclosure suit with "unclean hands." Back then, the trial judge sided with borrowers accusing the bank of building its case on a forged mortgage assignment…[...]
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Both the notes and the bonds were highly speculative investments since neither were backed by an actual debt or a valid mortgage. 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 YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER. —————- There is an untested theory that…[...]
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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 amount “unprecedented in its magnitude.”…[...]
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