Archives by Tag ' Citimortgage '
PennyMac appears to be a vehicle of “cleaning” fatal title deficiencies to the debt, note and/or mortgage on loans. It operates on behalf of CitiMortgage and multiple other entities on loans where the selection of a claimant is essentially random. The basic playbook of the banks is to insert a real business entity with no […]
Fraud for the first time in history has been institutionalized into law. It is foolishness to believe that the banking industry is trustworthy and that they have the right to claim legal presumptions that their fabricated documents, and the forged documents are valid, leaving consumers, borrowers and in particular, homeowners to formulate a defense where […]
This 2016 Illinois case corroborates exactly what I have been saying for 11 years. Sleight of hand accounted for the 1st Mortgage that was payable to Lehman Brothers who funded every loan with advances from Investors who then owned the debt. The investors were cut out of the chain of paper and the chain of […]
It is NOT enough to ALLEGE standing. They must PROVE it. Judges across the country are making mistakes with this simple concept. Standing to SUE is presumed if you allege (in words or by incorporation of exhibits) that you have it. Possession of the “original note” can be alleged but at trial the foreclosing party […]
Millions of consumers lost their homes when the housing market bubble burst. But federal regulators say some of those people may have been able to stay in their homes had mortgage lenders fulfilled their requirements. To that end, the Consumer Financial Protection Bureau has ordered two Citigroup subsidiaries to pay $28.8 million to resolve allegations that […]
By Ben Lane at Housingwire Citigroup continues moving away from mortgages as originations plummet Nearly finished with exit from mortgage servicing Citigroup first-quarter earnings show that the bank is continuing to move further and further away from mortgages and into other lines of business (The bigger question is why is Citi moving away from originating and […]
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 […]
“In order to establish its entitlement to enforce the lost note, PennyMac could establish standing “through evidence of a valid assignment, proof of purchase of the debt, or evidence of an effective transfer.” BAC Funding Consortium, 28 So. 3d at 939. PennyMac’s filings in support of its motion for summary judgment did not present evidence […]
Hat tip to StopForeclosureFraud.com See: http://stopforeclosurefraud.com/2017/02/16/houk-v-pennymac-corp-fl-2dca-pennymac-failed-to-meet-its-burden-of-showing-the-nonexistence-of-a-genuine-issue-of-material-fact-regarding-its-entitlement-to-enforce-the-lost-note/ LANE A. HOUK, Appellant, v. PENNYMAC CORP., substituted as party plaintiff for CitiMortgage, Inc.; SHANNON HOUK; BELLE MEADE OWNERS ASSOCIATION, INC., and MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., Appellees. Case No. 2D15-2583.District Court of Appeal of Florida, Second District.Opinion filed February 10, 2017.Appeal from the Circuit Court for Lee County; […]
Editor’s Note: CitiMortgage is the 6th largest loan servicer in the United States. Citi is now exiting the lucrative industry of mortgage servicing and foreclosing on loans it doesn’t own. Citi was fined $28.8 million dollars last week for servicing improprieties. By selling the servicing rights to these loans, CitiMortgage creates another layer of confusion […]
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