Fine related to 2011's industry-wide foreclosure settlement January 24, 2017 Ben Lane http://www.housingwire.com/articles/39027-servicelink-fined-65-million-for-lps-foreclosure-deficiencies In 2011, Lender Processing Services was part of a massive settlement with the government over industry-wide foreclosure misconduct that occurred after the housing crash. That settlement stemmed from document missteps in the third-party foreclosure process at some very large banks and mortgage servicers in the aftermath of…[...]

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Tags: LPS
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By David Dayen https://theintercept.com/staff/davidd/ Treasury secretary nominee Steven Mnuchin lied in his written responses to the Senate Finance Committee, claiming that “OneWest Bank did not ‘robo-sign’ documents,” when ample evidence proves that they did. Mnuchin ran OneWest Bank from 2009 to 2015 in a manner so ruthless to mortgage holders that he has been dubbed the “Foreclosure King” by his…[...]

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Tags: DAVID DAYEN, mnuchin fraud, the intercept
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a per se violation of TILA or any other Federal or State law makes the act also per se violations of the FTC act, (and the applicable little FTC acts passed in various states). Florida is used here as an example.  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…[...]

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Tags: 501.203, 501.204, disgorgement, FDCPA, FDUTPA, federal preemption, FTCA, Little FTC, per se by court, per se by description, per se by reference, per se violations, predatory per se, Reg Z
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  Big Bank corruption permeates our economy, social institutions and government while destroying the lives of the average American worker, homeowner and consumer.  Banks fund corporations, projects and policies that are antithetical to American life quality, but as long as there are profits to be made to hell with everything else. Predatory lending and fraudulent foreclosures have decimated our economy…[...]

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This is one instance in which the industry practice of tricking borrowers into foreclosure becomes crystal clear. The case is also instructive on the terms of so-called "modifications." The goal in all instances is to use every means at their disposal to trick the borrower into waiving rights and falling into the abyss of foreclosure without any appropriate disclosures. these…[...]

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Tags: “servicer” under 12 C.F.R. § 1024.2(b), CFPB, CitiFinancial, CitiFinancial Company, CitiFinancial Credit Company, CitiFinancial Services, CitiFinancial Servicing, Citigroup Inc, Credit reporting, Deferment, Furnisher
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http://www.nakedcapitalism.com/2017/01/bill-black-letter-warren-buffett-charlie-munger-hiring-proven-whistleblowers.html Posted on January 20, 2017 by Lambert Strether Lambert here: One of those sensible measures that just never seems to happen… By Bill Black, the author of The Best Way to Rob a Bank is to Own One and an associate professor of economics and law at the University of Missouri-Kansas City. Originally published at New Economic Perspectives. The Wall…[...]

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Tags: Bill Black, citibank richard bowen, Naked Capitalism
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What is unique and instructive about this decision from the Montana Supreme Court is that it gives details of each and every fraudulent, wrongful and otherwise illegal acts that were committed by a self-proclaimed servicer and the "defective" trustee on the deed of trust. You need to read the case to see how many different times the same court in…[...]

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Tags: Bank of America, Bayview, damages, deceptive lending, deceptive servicing, fabrication, false recording, false utterance, FDCPA, forgery, fraud, Least sophisticated consumer, notarization, punitive damages, Sanctions, strict liability, US BANK, Wells Fargo
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https://theintercept.com/2017/01/19/treasury-pick-steve-mnuchin-denies-it-but-victims-describe-his-bank-as-a-foreclosure-machine/ Treasury Secretary nominee Steve Mnuchin kicked off his confirmation hearing Thursday with a defiant opening statement, mostly defending his record as CEO of OneWest Bank. He cast himself as a tireless savior for homeowners after scooping up failed lender IndyMac. “It has been said that I ran a ‘foreclosure machine,’” he said. “I ran a loan modification machine.” But…[...]

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Tags: DAVID DAYEN, mnuchin fraud, the intercept
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Tonight LIVE at 6pm Eastern! Click in to the The Neil Garfield Show Or call in at (347) 850-1260, 6pm Eastern Thursdays On this episode of the Neil Garfield Radio Show, California Attorney Charles Marshall will discuss table-funded lending--California rules thereto--and how to beat back a motion for judgment on the pleadings. A recent California ruling was very much contradictory to…[...]

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Tags: Jacobson v. Bayview, lendinglies blog, Montana Supreme Court foreclosure
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These settlements are a slap in the face to homeowners who were forced into battle with an over-reaching enemy supported by the government. We have acknowledgements of wrongdoing here by Moody's with respect to injury suffered by investors. But if the homeowners were not signing the false documents (the "loan contract") there would have been no "loans" and there would…[...]

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