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. The filing states: On April…[...]
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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. The future of the bank…[...]
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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 when they occur. Anyone who…[...]
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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 servicing consumer mortgages). According to…[...]
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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 successor to “Christiana Bank &…[...]
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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 were pressing executives on the…[...]
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by the Lendinglies Team Wells Fargo's Q4 earnings last year created an alarm because with rising interest rates, bad publicity, and a slew of lawsuits from investors, governmental entities and homeowners, Wells Fargo appeared to be in for a rough ride. Residential mortgage applications also plunged in Q4 by $25 billion from the prior quarter, while the mortgage origination pipeline…[...]
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By Whistleblower Richard Bowen http://www.richardmbowen.com/the-saga-of-wells-fargo-are-banks-reaping-what-they-sow/ Wells Fargo is once again making national headlines for its less-than-ethical business practices. Recent headlines bowled me over: Wells Fargo being forced to reinstate employees – whistleblowers – who reported the ethics issues to their superiors, and pay their back pay! Their Board of Directors report decision laying the responsibility of the 2 million plus…[...]
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Case Involuntarily Dismissed: Caliber & U.S. Bank Trust for LSF9 Master Participation Trust Lose In Florida –
Apr 12, 2017
Please study the attached transcript for a road map regarding how a homeowner's attorney should question a servicer's witness. See: BOA-v-Asset-Acquisitions-Re-LSF9 Posted by Bill Paatalo on Apr 11, 2017 http://bpinvestigativeagency.com/caliber-u-s-bank-trust-for-lsf9-master-participation-trust-lose-in-florida-case-involuntarily-dismissed Great job by Michelle Belmont, Esq.! http://belmontesq.com/wp-content/uploads/2016/10/WON-Transrcipt-BOA-v-Asset-Acquisitions.pdf Here’s a case we’ve seen a thousand times. Plaintiff, U.S. Bank Trust, N.A. as Trustee for LSF9 Master Participation Trust, is substituted in…[...]
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Hearsay, Foreclosures, and the “Bank Must Win” Doctrine In American courts, the hearsay rule is supposed to be one of the cornerstones of evidence law. A witness may not testify about an out-of-court statement to prove the truth of that statement, because the opposing party has no chance to cross-examine the original speaker. The U.S. Constitution and nearly every state…[...]Continue Reading
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