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The Soft Underbelly of the Federal and State Attorneys General $25 Billion...
It’s official: The federal government, 49 of the 50 States (all but Oklahoma, the lone hold-out) and the country’s five leading bank mortgage servicers (none other than household names Bank of America,...
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For Investors There May Be a Brighter Side to the “Robo Settlement”
Further to Phil Stein’s post on Friday, as we continue to parse through the political rhetoric, the fine print of the settlement agreement, and the hoards of misinformation promulgated by the press, we...
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Federal Reserve Makes Morgan Stanley Pay For Some Foreclosures
Consent Order Issued Morgan Stanley may have sold off its mortgage servicing unit, but that did not stop the Federal Reserve from holding the company accountable for robo-signing and other improper...
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New York Attorney General: Foreclosure Fraud and “Robosigning”
New York Attorney General Takes On Foreclosure Fraud, Including “Robosigning” New York Attorney General, Eric T. Schneiderman, has announced the introduction of a bill that would protect New Yorkers...
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Banks’ After-The-Fact Appraisals Fuel Buyback Demands
Justin T. Hilley of HousingWire.com reports that audits done by Quality Mortgage Services (“QMS”) “indicate that many demands by financial institutions that lenders buy back mortgages are based on...
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Wells Fargo: Department of Justice Not Playing Fair
Crying Foul Wells Fargo has recently cried foul, claiming that the Department of Justice’s latest lawsuit against it in the Southern District of New York violates the terms of a settlement agreement...
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Taking The Easy Way Out Again: Recent OCC/Big Banks Settlement
Amidst Evidence both Old and New of Big Banks’ Wrongdoing, OCC Again Drops the Ball by Settling Instead of Regulating the Culprits Any follower of this blog or the mortgage crisis at large will — sadly...
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Justice Department Keeps its Distance From Szymoniak Mortgage Fraud Lawsuit
As detailed in an August 2013 Salon article by David Dayen and a September 2013 Bloomberg Businessweek article by Karen Weise, West Palm Beach, Florida homeowner and attorney Lynn Szymoniak helped blow...
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Robo-Signing Still Making Headlines As Wells Fargo Settles Another Lawsuit
“Robo-signing,” the term coined to refer to bank officials who quickly approved mortgage foreclosure documents without actual knowledge of the validity of the grounds for foreclosure, has been spurring...
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Main Street Cashes $3.1 Billion in Checks from Wall Street
With the mortgage crisis almost a decade in the rear-view mirror, some harmed homeowners are just now starting to see reparations for the transgressions of the country’s largest financial institutions....
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