[caption id="" align="alignnone" width="452"] State Sen. Leroy Comrie (pictured) says the Department of Housing and Urban Development’s lousy mortgage program is an "injustice pure and simple.” (Jeanne Noonan/for New York Daily News)[/caption] http://www.nydailynews.com/new-york/queens/pols-blame-hud-leaving-black-homeowners-open-foreclosure-article-1.2783899 BY Jennifer Fermino A Department of Housing and Urban Development mortgage program that’s supposed to help struggling homeowners is actually leaving many of them vulnerable to foreclosure…[...]

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http://www.dsnews.com/daily-dose/09-08-2016/homeownership-rate-foreclosure-generation Those born in the 1970s have fallen from having a 4 percent higher than normal homeownership rate in 2004 to a 7 percent lower than normal homeownership rate today, according to a report from John Burns, CEO of John Burns Real Estate Consulting. Burns states that the housing crisis hit those home buyers born in the 1970’s harder than…[...]

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THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER. —————- In an article published by Morgan, Lewis & Bockius LLP, it appears that the evasive true lender argument received new life in an ancillary proceeding before a Federal District Judge in California. By holding that a tribal bank originating…[...]

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Tags: CashCall, CFPB, deception, Morgan Lewis & Bockius LLP, predominant economic interest, state law as predicate for Federal law violation, table funded loans, true lender, usury
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http://www.nytimes.com/2016/09/09/business/dealbook/wells-fargo-fined-for-years-of-harm-to-customers.html?_r=0 For years, Wells Fargo employees secretly issued credit cards without a customer’s consent. They created fake email accounts to sign up customers for online banking services. They set up sham accounts that customers learned about only after they started accumulating fees. On Thursday, these illegal banking practices cost Wells Fargo $185 million in fines, including a $100 million penalty…[...]

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Tags: CFPB, customer deception wells fargo, wells fargo credit fraud
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Click in to tune in at The Neil Garfield Show Or call in at (347) 850-1260, 6pm Eastern Thursdays More than 40,000 people listen to the Neil Garfield Show. Maybe you should too. =============================== Tonight we will discuss a case that is so new the final judgment has not yet been entered. But it was announced by the judge in…[...]

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By the Lending Lies Team While the subprime mortgage bubble is simmering, the subprime auto loan meltdown has begun.  Over the past decade, auto lenders have been willing to lend money to people who are poor credit risks, can't provide proof of steady income, and purchase vehicles beyond their means.  This strategy was profitable and worked in the beginning- but…[...]

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By the Lending Lies Team The major news sources refuse to address the possibility of a housing bubble, however analysts who don’t drink the mainstream Kool-aid say the markets look eerily like those of 2005.   Back in 2005 the mainstream media dismissed the warning signs and encouraged people to keep buying houses due to record-low interest rates and to…[...]

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Tags: housing market cools, irrational housing prices, real estate bubble
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It is getting increasingly obvious to the courts that there is something inherently wrong with foreclosures. The substitutions without leave of court and the repeated filing for foreclosure on the same default are coming back to bite the 'securitization fail" scheme of the banks. see http://www.newyorklawjournal.com/id=1202766695379/Deutsche-Bank-Trust-Co-Americas-v-Smith-20152381?kw=Deutsche%20Bank%20Trust%20Co.%20Americas%20v.%20Smith%2C%202015-2381&cn=20160907&pt=Daily%20Decisions&src=EMC-Email&et=editorial&bu=New%20York%20Law%20Journal&slreturn=20160807093854 If you start with the premise that the trusts were never funded and therefore…[...]

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Tags: Deutsch Bank, REMIC TRUST, smith case, substitution of plaintiff, Two dismissals
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[caption id="attachment_40295" align="alignnone" width="368"] Beware: Floods and other natural disasters are another opportunity for servicers looking for additional profits.[/caption]   By the Lending Lies Team Mortgage Servicing should be more accurately called Mortgage Disservicing. The loan servicing industry is a rigged system that engages in a myriad of fraudulent tactics to ensure that homeowners fall behind on their mortgages so…[...]

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ARE LAW FIRMS CROSSING THE LINE FOR BANKS WHO WILL THROW THEM UNDER THE BUS? It is a chaotic circular round of documents emanating ultimately by, for and from the same parties. And somehow it is becoming custom and practice to allow law firm employees to sign important documents that transfer possession, delivery, ownership and servicing rights from one party…[...]

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Tags: beneficiary, conflict of interest, DEED OF TRUST, law firm, non-judicial, Power of Attorney, Substitution of Trustee, validation, verification
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