Editor's Note: Please look for follow up article on this tragic and unlawful Indiana court decision by Neil Garfield. Rooker-Feldman doctrine was applied despite the fact that Mains raised new issues and findings of fraud that were not present in his original complaint. http://www.theindianalawyer.com/th-circuit-affirms-dismissal-of-foreclosure-fraud-case/PARAMS/article/43243 An Indiana man’s various federal claims against his former mortgage holders cannot proceed because federal district…[...]
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https://www.bna.com/mnuchins-onewest-eluded-n57982085901/ By Llewellyn Hinkes-Jones OneWest Bank, the mortgage servicer previously owned by now-Treasury Secretary Steven Mnuchin, avoided numerous lawsuits and settlements that affected other banks after the 2010 foreclosure crisis, a Bloomberg BNA analysis showed. Compared with other banks, it was given a relatively light penalty during the Independent Foreclosure Review (IFR) by the Office of Thrift Supervision (OTS)—a 2011…[...]
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A bankruptcy judge issued a $45 million fine against Bank of America Corp. , calling the bank’s treatment of a California couple who fought to save their home “brazen” and “heartless" and should have added the words "illegal", "fraudulent" and "unconscionable". Judge Christopher Klein of the U.S. Bankruptcy Court in Sacramento said the bank’s mortgage modification process and mistaken foreclosure…[...]
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LAWYERS WAKE UP! THERE IS GOLD IN THESE HILLS! The Sundquist decision stands out as the clearest denunciation of Bank of America yet. In this colorfully written opinion Judge Klein in California burst out of a shell of false orthodoxy plaguing the courts and gave us rays of sunshine. Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make…[...]
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by the LendingLies Team In most cases, the damages awarded to homeowners are so paltry that they do little to punish unlawful conduct or to deter future behavior by servicers. The banks continue their crime spree unabated. Those days may be over. A bankruptcy court in Sacramento, California recently issued a $45 million dollar punishment in a case of a…[...]
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Gretchen Morgenson Strikes Again: A Revolving Door Helps Big Banks’ Quiet Campaign to Muscle Out Fannie and Freddie
Mar 28, 2017
By New York Times reporter Gretchen Morgenson Seven years after their dubious lending practices helped push the United States economy to the brink of disaster, the nation’s largest banks are closing in on a long-sought goal: to unseat Fannie Mae and Freddie Mac, the mortgage finance giants, and capture their share of the profits in the country’s $5.7 trillion home…[...]
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https://consumerist.com/2017/03/28/complaints-about-student-loan-servicing-increased-429-in-past-year/ In the past year, federal regulators and consumer advocates have highlighted issues with student loans and the servicing of these often crippling debts: from finding that educational loans continue to haunt older borrowers, to suing Navient, the largest student loan servicing company. Because of this, it might not come as much of a surprise that the number of complaints the…[...]
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Texas Courts confirm: The Homeowner must be foreclosed upon before suing for wrongful Foreclosure
Mar 28, 2017
http://www.lexology.com/library/detail.aspx?g=da21e31b-d490-48b4-ae3a-cc663fb66591 The U.S. Court of Appeals for the Fifth Circuit recently affirmed a trial court’s denial of a mortgagor’s motion for remand because the non-diverse substitute foreclosure trustee was improperly joined in order to defeat diversity jurisdiction. The Fifth Circuit also affirmed the trial court’s summary judgment ruling in favor of the trustee and loan servicer because the foreclosure sale…[...]
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by Vince Golle March 27, 2017, 12:41 PM EDT The paucity of houses on the market remains a nagging hurdle for those Americans interested in trading up or looking to take their first step into homeownership. With a limited number of property listings amid solid demand, sellers have little reason to reduce asking prices. From December through February, less than…[...]
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by the Lending Lies Team CitiGroup’s attempts to act Ethically are a Smoke-Screen for its Fraud Spree. In last Saturday’s edition of the Wall Street Journal an article entitled, “The Banker-Turned-Seminarian Trying to Save Citigroup’s Soul”. I didn’t projectile vomit but my gag reflex was activated. Citigroup’s latest attempt to schmooze regulators and the general public by addressing past and…[...]
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