We have attached an excellent document produced by Reuters that gives a good overview of not only the problems with robo-signers but explains the facts surrounding missing mortgage paperwork that is suddenly found – albeit maybe with different signatures and fabricated legal affidavits. Click HERE —> Mortgage Mess Robo Signers Return – Reuters Report May [...]
Wells Fargo targets African-Americans with predatory loans
August 2, 2011 By 1 Comment
Say it isn’t so…Wells Fargo the bank who brought us “Ghetto Loans” for “Mud People” is in trouble for unfairly targeting minorities? No, I’m not making this up. Read below. – The Bank Slayer Justice Dept. presses Wells Fargo on loans-source * Justice eyes Wells for targeting Afro-Americans – source * Subprime loans focus of [...]
MERS tries to hide. No more foreclosing in MERS’ name.
August 2, 2011 By Leave a Comment
In Texas we have noticed foreclosures in the name of MERS have suddenly become VERY rare. We haven’t run across one in several months. Does this mean MERS has vanished? Nope, but the mortgage servicers are downplaying the role of MERS and trying to shield MERS and themselves from the bright light. This means you [...]
The Fed levies $85M penalty against Wells Fargo
July 21, 2011 By 4 Comments
SHOCKER, not everyone in foreclosure “bought too much house” or “lied about their income on the loan application”. It turns out, that at times, Wells Fargo falsified records and changed borrowers loan applications or steered them into sub-prime profitable loans. “The order requires Wells Fargo to compensate borrowers affected by these practices.” To identify Wells [...]
MARS rule changes affect REALTORS
July 20, 2011 By Leave a Comment
Read the fine print! Although the FTC has agreed to forbear enforcing some provisions of MARS against REALTORS, this doesn’t mean that real estate agents are completely off the hook. What it does mean is that some of the more onerous and ridiculous record-keeping and disclosures requirements will not be pursued as violations…that is unless [...]
Short Sale Nightmare: Seller & Buyer sued by Fannie Mae & MERS
July 14, 2011 By 1 Comment
SHOCKER!! Buyer of a short sale doesn’t own the property he just purchased (or does he?). Seller of the short sale paid off the wrong party (or did he?). The below email was sent to Neil Garfield at Living Lies. Sadly this is not shocking at we know of two other lawsuits where the seller [...]
Bank of America to pay $8.5 Billion
June 30, 2011 By Leave a Comment
On the surface this looks like a win for the investors who lost billions when they bought lousy and in many cases FAKE mortgage backed securities. But the question for Henry Homeowner who is wrestling with his own mortgage woes is, what does this mean to me? Will I benefit from this “win”? I have [...]
Bank of America’s ReCONtrust shut down in Utah
May 31, 2011 By Leave a Comment
Ok, maybe I emphasized the CON in RECONTRUST but check, check and re-check again every document and entity that is trying to foreclose on property…you never know what you might find. According to Bloomberg and foreclosure defense attorney Beth Findsen: AG Mark Shurtleff advised Brian Moynhian that the bank’s foreclosures in Utah are illegal. “A [...]
Banks pay $125,000+ for each military member’s wrongful foreclosure
May 27, 2011 By Leave a Comment
HAPPY MEMORIAL DAY!! Finally! Bank of America coughs up $20 million and Saxon another $2.35 millionto members of the military who are victims of wrongful foreclosure actions. On average, Assistant Attorney General Tom Perez said victims in the Saxon case will receive an average of $130,555, while the Countrywide victims will receive about $125,000 each. [...]
Five Biggest Mortgage Firms Defrauding Taxpayers say Federal Auditors
May 18, 2011 By Leave a Comment
Bank of America, Chase, Wells Fargo, Citigroup and Ally Financial (GMAC) have been (and still are) cheating taxpayers by wrongfully foreclosing and then claiming millions of dollars in reimbursements from HUD, FHA & other governmental bodies for losses on mortgage loans. Why won’t you let the dog sniff your locker? As the article below shows, [...]
