by B. Davies FROM NATIONAL NORTGAGE NEWS: GREAT ARTICLES FROM MY NEW FREE SUBSCRIPTION—– DRUM ROLLS—–>>>>AFRAID AND READY FOR JAIL– http://www.scribd.com/doc/40441867/Servicing-Fraud-Another-Black-Eye http://www.scribd.com/doc/40441783/Foreclosure-Affidavit-Moves-Spur-Some-Ratings-Reviews-at-Wells-IndyMac http://www.scribd.com/doc/40441728/Fannie-Will-Hold-Servicers-Responsible-for-Robo-Gate-REO-Losses http://www.scribd.com/doc/40441672/Lenders-Turning-Their-Backs-on-MERS-Going-Back-to-Paper[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

Not surprisingly, the prospect of an alliance between Ms. Warren’s new bureau and a handful of activist attorneys general gives the banking industry the heebie-jeebies. At a panel at the Chamber of Commerce this week, Andrew Pincus, a lawyer with Mayer Brown, articulated their voluminous concerns. Today, that same coalition of state prosecutors is the one driving the investigation into…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Note: While the banking industry have made it "illegal" for a homeowner to have a relative buy the home at foreclosure auction and then give it back to their son or daughter, there are many games at play in the auction. And don't forget there are no auction police around. They have to figure it out in order to…[...]

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Tags: attorney malpractice, Auction, strategy
Posted in bubble, Corruption, Eviction, securities fraud |

Kentucky Judge requires proof of chain of title and ownership. 2010/10/30 at 9:16 am http://www.scribd.com/doc/40489838/Kentucky-Order-FORECLOSING-ENTITY-MUST-SHOW-CHAIN-OF-TITLE-AND-ASSIGNMENTS KENTUCKY JUDGE ORDER PROPER DOCUMENTS BE IN PLACE TO FORECLOSURE—FROM GLENN A. COMMONWEALTH OF KENTUCKY KENTON CIRCUIT COURT GENERAL ORDER Pursuant to CR 8.01(1) and CR 17.01, plaintiff in foreclosure complaints filed in Kenton County, Kentucky, must show that it is the holder of the…[...]

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Letter from Insurance Industry [1] On September 2, 2010 Bank of America was warned about their liability in shady securitizations, mortgages and foreclosures. The letter states directly that some 50% of all loans including HELOCS "qualify for repurchase by BOA in the securitizations insured by them." It estimates liability of at least $10-$20 Billion just for members of AFGI (Association…[...]

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EDITOR'S COMMENT: In a recent article I said that Wall Street no longer provides capital, it consumes it. The earnings reports are a resounding corroboration of the simple fact that big business and big banking is thriving. Those businesses that simply issue new securities and trade them, those companies that buy and sell old companies are getting money at virtually…[...]

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Wilbur Ross’s American Home Mortgage Faces Servicing Lawsuits By David McLaughlin – Oct 28, 2010 8:59 AM ET * * Tweet * LinkedIn * Share o Business Exchange o Buzz up! o Digg * Print * Email W.L. Ross & Co. CEO Wilbur Ross Wilbur L. Ross Jr., chairman and chief executive officer of W.L. Ross & Co. LLC. Photographer:…[...]

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SEE ALSO securitization-understanding-the-risks-and-rewards?page=1 Subprime debacle – the truth emerges: Part 2 Posted by Anthony Harrington, October 28, 2010 Recommend this Article 0 Comments Login to add your comment Anthony Harrington Amongst the real horrors perpetrated during the subprime disaster, such as the many outright frauds practised on US homebuyers who should never have been re-mortgaging their homes in the first…[...]

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Tags: appraisal fraud, appraisals
Posted in bubble, Corruption, Eviction, securities fraud |

AZ Ct Sustains Action for Fraud SCAN1516_000 We thought we'd be required to wait longer for a decision like this in Arizona. The decision is not particularly novel. The Borrower sued for misrepresentation and the "lender" defended on all the usual grounds that usually either freezes the case or ends up bouncing the Borrower out of court. Judge Sedwick felt…[...]

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Some homeowners say the banks tried to foreclose on a house that did not even have a mortgage. Others say they believed they were negotiating with the bank in good faith. Still others say that even though they are delinquent on their mortgage payments, they deserve the right to due process before being evicted. Some consumer lawyers say they are…[...]

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