Weekend Edition - June 10, To June 14, 2013 - ForeclosureGate Gazette

WEEKEND EDITION, JUNE 10 JUNE 14, 2013
MONDAY, JUNE 10, 2013

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners
Kickbacks as 'a natural part of business' at Fannie Mae alleged Granillo, a foreclosure specialist at mortgage giant Fannie Mae, expected to drive off with $11,200 an illegal kickback for steering foreclosure listings to brokers, authorities allege in court records. Granillo would leave in handcuffs. And investigators are now looking into assertions by Granillo and another former Fannie Mae foreclosure specialist that such kickbacks were "a natural part of business" at the government-sponsored housing finance company, as Granillo allegedly told the broker in a wiretapped conversation.
Compliance With Pooling And Servicing Agreement (PSA) Voids Assignment of Mortgage "The assignment of the Defendants note and mortgage, having not been assigned from the Depositor to the Trust, is therefore void as in being in contravention of the PSA.
The 5 biggest threats to the housing recovery Despite large gains in home prices, foreclosures drying up and millions of homeowners recovering the equity they'd lost during the subprime crash, a few lingering risks are worth keeping an eye one. And the question with some of these threats isn't if, but when, they will actually occur.
Are your mortgage modification terms worth continuing payments? According to a new report, people who take advantage of a key federal program to modify their mortgages in an effort to save their homes are defaulting "at an alarming rate."
BofA Ordered to Face Claims Over Insurance Kickbacks Bank of America Corp., the second- largest U.S. lender by assets, must face claims by homeowners that it took kickbacks from private insurers, a judge ruled.
Former Fugitive Pleads Guilty To Fraud And Id Theft In Massive, Nationwide Foreclosure Scam Ward admitted to engaging in a fraud scheme that took place from 1997 to April 5, 2012, the day he was arrested by Canadian authorities.
Latest Bureaucratic Bungle Of The Foreclosure Settlement: Bounced Checks Call it insult to injury. After waiting more than two years for banks to compensate potential foreclosure abuses, borrowers have found that those long-anticipated checks are bouncing.
Oklahoma Foreclosure Auctions Reach 18-Month High in April The annual increase in overall Oklahoma City foreclosure activity was driven largely by an increase in scheduled foreclosure auctions (up 63 percent) and bank repossessions (up 72 percent). Foreclosure starts in Oklahoma City decreased 65 percent during the same time period.
Homeowner/Foreclosure Legal Q&A

Do I have recourse to sue my lender for illegal foreclosure and title transfer? >>>> I just received a summons for my house going in foreclosure>> Should I file quiet title action? >>>> Sue bank for shady foreclosure process? >>>>
Independent Foreclosure Review (IFR) Information

Voices of the Harmed Borrowers on Rust Consulting >>>> Big Banks And Their Ally's, Our Homes They Did Steal >>>> Read Foreclosure Review Crime Scene News For The Week Of June 10, 2013 >>>> Read Naked Capitalism: Launching Our First (Free) Ebook on the OCC/Fed Foreclosure Review Fiasco >>>>
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TUESDAY, JUNE 11, 2013

Nearly half of all US homeowners with a mortgage still underwater in Q1 Despite rising home prices early in the year, a significant portion of U.S. homeowners with a mortgage about 44 percent still owed more on their home than it was worth or didnt have enough equity to move at the end of the first quarter, according to Zillows first-quarter Negative Equity Report.
New Bill Proposes Extended Foreclosure Relief for Servicemembers Theres some good news for military servicemembers on the horizon, after Capitol Hill lawmakers agreed on new legislation that would extend foreclosure protection to enlisted personnel who bought their homes after they went on active duty.
Using eminent domain to foreclosure crisis: Opinion
fix
Newark's
The foreclosure crisis has laid waste to Newark and impaired our economic recovery. Whats measurable is the price tag: $56 million in additional city services to maintain abandon homes; $630 million in underwater debt on mortgages still held by Newark homeowners;
State Sen. John Sampson's embezzlement case exposes flaw in oversight of foreclosed property sales The case of a Brooklyn state senator charged with embezzling $440,000 in escrow funds has exposed a stunning flaw in how sales of foreclosed properties are handled.
What to Do If Foreclosure Is Killing Your Credit Foreclosures can do a number on your credit report, even for years after they happened. With the Great Recession causing an upheaval in the housing market and many homeowners behind on payments.
Sen. Warren: Regulators Are Watching Out for Banks, Not the American Public Regulators are now withholding information about how frequently the banks actually broke the lawa number which far exceeds what was originally agreed upon in the watered down January settlement.
Another Charged in Mortgage Fraud Case Involving 100 Properties According to the information, co-conspirator Willie G. Manley, charged elsewhere, was an accountant who created false income documents, such as W-2 forms, paystubs, and Form 1040 income tax returns, which were submitted to lenders.
10 shocking facts about corporate exploitation of America; it's even worse than we thought Excessive corporate power is causing the standard of living to fall for 90 percent of Americans, according to David Cay Johnston, a Syracuse University law professor. Johnston recently published a book called 'The Fine Print,' which describes how corporations get rules and regulations written in their favor so they can milk Americans, a penny at a time. A review of the book notes.


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WEDNESDAY, JUNE 12, 2013

Mass. residents who lost homes to get $1,480 It is not exactly the down payment on a dream house, but about 11,000 former Massachusetts homeowners who lost their properties to foreclosure will soon receive checks for about $1,480 as part of a mortgage settlement with the nations largest lenders. Attorney General Martha Coakley said Tuesday that the total payout of nearly $16 million to be made between June 10 and 17 will come from last years deal between the lenders and state attorneys general nationwide over charges of sloppy and fraudulent foreclosure practices.
No Lehman Moments as Biggest Banks Deemed Too Big to Fail There may be no government action more universally reviled in the U.S. than bank bailouts. Republicans and Democrats, financial industry lobbyists and watchdogs, Wall Street executives and President Barack Obama say taxpayers should never again rescue a failing bank.
Sheila Bair: Dodd-Frank taxpayer bailouts
really
did
end
As someone who knows the FDIC which is actually the agency that takes down failing banks shes in an unusually good position to know whether the laws resolution authority will work. These are the new powers the FDIC has in DoddFrank to impose losses and fail a financial firm.
Michigan AG questions banks compliance with national mortgage settlement Michigan Attorney General Bill Schuette sent a letter to Joseph Smith, head of the Office of Mortgage Settlement Oversight, identifying areas where banks are still falling short of meeting terms of the National Mortgage Settlement.
Banks Still Behaving Badly The lawsuits are another sign that more than a year after the mortgage settlement between five big banks and state and federal officials banks are still mishandling foreclosures in ways to benefit themselves while harming borrowers.
City needs state help as it battles foreclosure mess In just four years, the overall value of residential property in the city of Milwaukee dropped by $4.4 billon - a staggering loss of 23% of value, city officials say, and the reason is the city's foreclosure crisis, which caused home values.
Foreclosure defense lawyer is missing; his law partner says at least $6M in firm money is gone A foreclosure defense lawyer in Florida has been reported missing as authorities investigate the reported disappearance of at least $6 million in funds held by his law firm in trust accounts.
Mortgage delinquency rate rises as foreclosure inventory subsides: MBA The delinquency rate for mortgages on one-to-four unit residential properties grew 16 basis points from the fourth quarter of 2012 to the first quarter of 2013 even as the nations foreclosure inventory rate dropped to 3.55%, the Mortgage Bankers Association said.


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THURSDAY, JUNE 13, 2013

Lawsuit to take Aurora woman's house is guaranteed, bank says The owners of an Aurora woman's mortgage said they absolutely will file a foreclosure lawsuit to take her house because of claims that Colorado's public trustee process is unconstitutional. In a request to dismiss a federal lawsuit against them, lawyers for U.S. Bank on Thursday said they'll pursue a foreclosure against Lisa Kay Brumfiel in Arapahoe County District Court "to remove any due process concerns" that come from a public trustee foreclosure.
Bill to End Foreclosure Mediation In Missouri Passes Wake Up, Missouri Heres what can happen when people get lulled into a false sense of security listening to the news stories about how our housing markets have rebounded and foreclosures are down we risk losing the things that are helping homeowners.
Oklahomas Own Mortgage Settlement Trumps National Pacts Payouts More than 700 Oklahomans who applied for relief under the Oklahoma Mortgage Settlement Fund (Phase I) have received an average payment so far of $11,173. Thats about five to ten times more than anticipated payouts for victims in the other 49 states.
Foreclosure Crisis Still Has Millions in Its Grip Five years after the mortgage meltdown sparked a wave of home foreclosures, millions of Americans are still in housing "limbo," battling to save their homes despite government programs meant to help them.
Wells Fargo Wrongful Foreclosure Kills Elderly Homeowner? Delassus died at 62 of heart disease after Wells Fargo mistakenly held him liable for his neighbors property taxes, doubled his mortgage payments, declared his loan in default and sold his Hermosa Beach condominium, according to the complaint.
Justices OK lawyers to handle foreclosures With tens of thousands of foreclosure cases clogged in the state's courts, the Florida Supreme Court is signing off on a plan to use lawyers -- and not judges -- to handle them.
Report: Long Cure, Foreclosure Timelines Cause High Delinquency Rate The national mortgage delinquency rate might be stubbornly high, according to TransUnion, but the delinquency rate would actually reflect normal levels seen 10 years ago if cure or foreclosure timelines were shortened.
Mortgage Delinquency Rates Increase The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 7.25 percent of all loans outstanding at the end of the first quarter of 2013, an increase of 16 basis points from the previous quarter, but down 15 basis points from one year ago, according to the Mortgage Bankers Associations (MBA) National Delinquency Survey.


Page 4 of 5
FRIDAY, JUNE 14, 2013

Banks Lobbyists Help in Drafting Financial Bills Bank lobbyists are not leaving it to lawmakers to draft legislation that softens financial regulations. Instead, the lobbyists are helping to write it themselves. One bill that sailed through the House Financial Services Committee this month over the objections of the Treasury Department was essentially Citigroups, according to e-mails reviewed by The New York Times. The bill would exempt broad swathes of trades from new regulation.
Freshman senator with senior pluck takes on the financial industry After some pleasantries, the longtime consumer advocate and Wall Street critic lit into the heads of the Securities and Exchange Commission, the Federal Deposit Insurance Corp. and officials from four other agencies for their practice of.
Qualified Residential Mortgages The Dodd-Frank Act requires that a "securitizer" retain 5 percent of the credit risk unhedged on any securitized asset unless the securitization consists solely of "qualified residential mortgages." A securitizer is basically the securitization's sponsor, although the credit risk can be shared between.
New York AG: Wells Fargo, BofA Violated National Foreclosure Settlement New York Attorney General Eric Schneiderman said Monday he may sue Wells Fargo and Bank of America for allegedly violating the terms of last years multi-state mortgage settlement, despite questions over his authority to do so.
Bank Lending Increasing, Except for Real Estate The good news is that credit is beginning to flow through most sectors of the American economy. The bad news for real estate is that it is one of the only sectors that is still waiting for credit expansion.
Fannie Mae Evicts Family in Foreclosure, Then Installs Armed Guards The family was evicted, but their home is not empty. A force of armed private security guards from McRoberts Security was immediately installed in Debbie Austin's home. The guards have been on 24-hour duty in the home ever since.
Mortgage servicer isnt held by consumer law, justices rule The Ohio Supreme Court has ruled that servicing a residential mortgage does not constitute a consumer transaction as defined by state law, a ruling that consumer groups and attorneys say eliminates a protection for homeowners trying to save their homes amid the housing collapse.
Hawaii Federal District Court Applies Rules of Evidence: Defendants Failed to Prove Sale of Note This quiet title claim against U.S. Bank and BONY (collectively, Defendants) is based on the assertion that Defendants have no interest in the Plaintiffs mortgage loan, yet have nonetheless sought to foreclose on the subject property. Currently before the court is Defendants Motion for Summary Judgment, arguing that Plaintiffs quiet title claim fails because there is no genuine issue of material fact that Plaintiffs loan was sold into a public.


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Weekend Edition - June 10, To June 14, 2013 - ForeclosureGate Gazette

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Weekend Edition - June 10, To June 14, 2013 - ForeclosureGate Gazette

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Formats disponibles

WEEKEND EDITION, JUNE 10 JUNE 14, 2013

MONDAY, JUNE 10, 2013

Homeowner/Foreclosure Legal Q&A

Independent Foreclosure Review (IFR) Information

WEEKEND EDITION, JUNE 10 JUNE 14, 2013

TUESDAY, JUNE 11, 2013

Using eminent domain to foreclosure crisis: Opinion

Homeowner/Foreclosure Legal Q&A

Independent Foreclosure Review (IFR) Information

WEEKEND EDITION, JUNE 10 JUNE 14, 2013

WEDNESDAY, JUNE 12, 2013

Sheila Bair: Dodd-Frank taxpayer bailouts

Homeowner/Foreclosure Legal Q&A

Independent Foreclosure Review (IFR) Information

WEEKEND EDITION, JUNE 10 JUNE 14, 2013

THURSDAY, JUNE 13, 2013

Homeowner/Foreclosure Legal Q&A

Independent Foreclosure Review (IFR) Information

WEEKEND EDITION, JUNE 10 JUNE 14, 2013

FRIDAY, JUNE 14, 2013

Homeowner/Foreclosure Legal Q&A

Independent Foreclosure Review (IFR) Information

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