It was impossible to trace the majority of the mortgage loans on the over 300 homes sold by DSI that were the subject of the FBI investigation; it would have been harder yet to identify individual victims of the fraud given that the mortgages were securitized and traded. (Emphasis added.) THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH…[...]
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By William Hudson Expecting the United States Government, a for-profit entity, to enforce its own laws against the banks will likely not happen. Numerous leaders and officials of the United States Inc. have already admitted that the banks write the rules. Since the 2008 collapse-the lack of response, the gross violations of due process and the overall impotence of the…[...]
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Neal Gabler http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/ Since 2013, the Federal Reserve Board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their current wage; 29 percent of Americans expect to earn…[...]
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Mortgage_Servicing_Supervisory_Highlights_11_Final_web_ http://www.bankingexchange.com/news-feed/item/6320-cfpb-weighs-in-on-mortgage-servicing?Itemid=511 Between January 2014 and April 2016, the Consumer Financial Protection Bureau conducted “supervision work” on mortgage servicers, focusing particularly on compliance with new servicing rules and any unfair, deceptive, and abusive practices. CFPB has issued a report on those findings—and the bureau is not pleased. “The magnitude and persistence of compliance challenges since 2014, particularly in the areas…[...]
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How Much Did Banks Pay For The 2008 Financial Crisis? Fines And Settlements Of Over $160 Billion In Past 8 Years
Jun 30, 2016
See here: 160billionbankfee So for an average of $20 Billion per year, the mega banks received an infinite supply of forever stamps --- "forever" in the sense that they committed epic fraud and are still doing it. I believe this will be regarded as the most historic blunder in American history committed by three consecutive and diametrically opposed Presidential Administrations…[...]
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https://newrepublic.com/article/134722/foreclosure-sleuth How a sports agent uncovered the greatest financial fraud in American history. By David Dayen June 29, 2016 New Republic contributor David Dayen’s book Chain of Title focuses on three individuals in South Florida—cancer nurse Lisa Epstein, car dealership worker Michael Redman, and Lynn Szymoniak, a lawyer specializing in insurance fraud—who stumbled upon the biggest consumer fraud in American…[...]
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"Because I said so" or "because I already did it" is not a recognizable legal ground for possession of property even after the forced sale of the property. In an action for possession of property, the taker must establish that it is the legal owner and that the ownership was obtained lawfully and properly. The fact that a prior judgment…[...]
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the Golden Rule of Mortgage Foreclosure: the Uniform Commercial Code forbids foreclosure of the mortgage unless the creditor possesses the properly-negotiated original promissory note. If this can’t be done the foreclosure must stop. --- Douglas Whaley, Professor Emeritus, The Ohio State University Moritz College of Law. "By saying yes, the homeowner admits that the paper is original which it is…[...]
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http://newjerseyop.org/ It's likely Thursday the Assembly will vote on a bill to prevent foreclosures and to keep Sandy survivors from losing their homes. We need you to take just 5 minutes, call your state legislator, and tell them that this is important to you and your community. Don't know how to reach them or who they are? No problem. Click this…[...]
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In the mortgage world "successor by merger" is simply a living lie that continues as you read this article. Like many other major illusions in our world economy, the Chase-WAMU merger was nothing more than illusion The reason for the rebellion showing up as votes for Sanders and trump and the impending exit of the UK from the European Union…[...]
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