While news services proclaim the foreclosure rate is falling drastically and there is no reason for the public to be concerned about the housing market- the New York Federal Reserve is warning investors that the subprime mortgage industry is heating up. House prices peaked in most markets last year and now there is a nationwide […]

Tags: federal reserve mortgage, predatory lending bank of america, predatory lending wells fargo, subprime mortgages, taxpayer guaranteed mbs
Posted in Uncategorized |

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Tags: $50, 000 per person in bias case, African-American, Baltimore, Bias against blacks and hispanics, chicago, Cleveland, Deputy Attorney General James Cole, District of Columbia, DOJ, Latino borrower, Mike Heid, New York City, Oakland, Philadelphia, Riverside CA, San Francisco, subprime mortgages, Thomas Perez, title system, Washington D.C., Wells Fargo
Posted in bubble, Corruption, Eviction, securities fraud |

Editor’s Note: Baltimore decided to take on one of the worst “Club 100” players in the mortgage meltdown, Wells Fargo. The thrust of their argument is that Wells Fargo targeted poor people and made a bad situation worse, causing collateral damage all over the city. Baltimore will now file a narrower amended complaint, but the […]

Tags: Baltimore, John p. Relman, Judge J. Frederick Motz, Michael, New York Times, Powell, securitization, subprime mortgages, Wells Fargo
Posted in bubble, Corruption, Eviction, securities fraud |

From: Whitman, Dale …. UCC amendments that require a secondary market purchaser of a note to give credit for any payments made to the original payee of the note, if they were made before the maker of the note was notified that the note had been transferred. [Editor’s Note: This is exactly what happened in a […]

Tags: assignments, authority, Dale Whitman, delivery of note, foreclosure defense, MERS, negotiable instrument, recording, servicer, subprime mortgages, UCC, Whitman
Posted in Eviction |