Weekend Edition - November 18, To November 22, 2013 - ForeclosureGate Gazette

WEEKEND EDITION, NOVEMBER 18 NOVEMBER 22, 2013
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MONDAY, NOVEMBER 18, 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
Courts Continue to Ratify Theft of Money and Documents by Banks An ordinary individual finds a sack of promissory notes, and you might expect him to try to locate the owners of those notes. After all they are the equivalent of cash. But the banker sells the stolen notes with false assignments, insures them, gets them guaranteed with payment proceeds to himself and then settles with the lender for pennies on the dollar.
Late Breaking Foreclosure Information At Foreclosure Crime Scene News >>>>

Why California Homeowners Could Avoid a Tax Hit Troubled homeowners who get a break from their mortgage lenders could face a hefty tax bill next year if a key provision expires at the end of the year, though state laws could determine which borrowers will have to write a check to Uncle Sam. American Homes 4 Rent to Tap New Market for Rental-Backed Bonds American Homes 4 Rent (AMH), the secondlargest landlord for single-family U.S. homes, said it plans to market bonds backed by some of its more than 21,000 rental properties after Blackstone Group LP (BX)s Invitation Homes completed the first deal of the type.
Is Federal Preemption Assignable? Putting aside the optics, I think there's an interesting legal issue possibly raised by the present case, Henning v. Wachovia: does federal preemption under the Home Owners Loan Act (HOLA) apply to a mortgage that was
FHFA Offered Unqualified Foreclosures, Study Finds
Buyers
The Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac, offered to sell foreclosed homes to bidders who didnt meet required standards, the agencys inspector general said.
Coming Soon? An Occupy Wall Street Debit Card The idea, led by a group that includes a Cornell law professor, a former director of Deutsche Bank and a former British diplomat, is meant to serve people who do not have bank accounts.
Documents Detailing History of Foreclosure Settlement Program At an informational session on September 21, 2013, Attorney Corey Allard delivered a detailed history of the foreclosure settlement program in Rhode Island.
FHA to get $1.7 billion in its first taxpayer-funded bailout The Federal Housing Administration dramatically expanded its role after the subprime market collapsed, but at the expense of its own finances. Now, the government agency will get a first-ever bailout of $1.7 billion. In a letter Friday to Congress, the agency's head said it needed money to stabilize its long-term finances and cover potential losses
Homeowner/Foreclosure Q&A:
Why would a bank agree to a low ball short sale, if final judgment on foreclosure was rendered and debtor got a BK7 discharge?>>>> If I filed a quiet title action, and am now stipulating to that action being dismissed with prejudice, does the 'with prejudice'>>>> Bidding on a foreclosure property with an IRS tax lien>>>> House Foreclosure questions..>>>>
Homeowner Resources:
LinkZ: September 2013 Foreclosure Related News, Worth A Peek>>>> Were 732 days old: Heres what weve been up to>>>> How Do I Use an Expert Declaration?>>>> The Housing Justice Foundation>>>>
Page 1 of 5
TUESDAY, NOVEMBER 19, 2013

More Cities Consider Eminent Domain to Halt Foreclosures The failure of the U.S. government to prosecute those who were the masterminds behind the NTMs (nontraditional mortgages) and subprime loan debacle, that more likely appear to have been an intentional Ponzi-like scam, makes Eminent Domain a plausible solution for relief. If handled properly Eminent Domain may actually save homes and families.

Credit cuts out would-be homebuyers Investors may be reaping the rewards of the housing recovery, but regular buyers, especially single and first-time buyers, are still on the outside looking in. Tight credit has kept some. Mudslinging elections? the new normal in judicial
Out-of-state political organizations spent millions on mudslinging television ads in state supreme court elections in 2012, according to a new.
A Step Toward Peer to Peer Lending Securitization Fans of this type of peer to peer lending say it fulfills a big need in the economy. Banks, they say, sometimes fail to reach certain types of borrowers.
Reverse Mortgage Nightmare: Widow Facing Foreclosure In 2007, a knock at Barbara Freeman front door, came with a great opportunity: to be debt-free and take care of her sick husband. This year, another knock at that same door was a sheriff's deputy serving foreclosure papers.
Struggling homeowners find relief in SUN For Eduardo Velez and his wife, Amalia, it was like winning the lottery. Until last year, they were living the American dream, with Mr. Velez working hard as an equipment engineer 35 years after he arrived in the U.S. from Colombia.
Who Owns Americans Mortgages And Who Has The Right To Foreclose Should we care at all about things like Standing At Inception or frankly any issues relating to standing at all? Well, aside from the basic integrity of our nations court system.
Rescission Returns in 3rd Circuit Opinion Forbes has taken notice. There is a shift toward borrowers in mortgage litigation. The decision points back to the origination of the loan. This decision follows a similar decision in the 4th circuit. It all comes down to what actually happened at closing? And we dont actually know if the decision to allow rescission indefinitely on second mortgages will extend to the first mortgage.
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WEDNESDAY, NOVEMBER 20, 2013

11 Reasons Why I Never Want To Own A House Again It was a great house. It was where my children took their first steps, where they learned to ride bikes and scooters. It was the location for dinner parties and cocktail parties and birthday parties and our annual Halloween potluck. But it was time to go. We happened upon a great new house that was nearly perfect. And even better: it was a rental.

Foreclosure auctions jump in South Florida The number of foreclosed homes scheduled for the auction block in October skyrocketed by 76 percent in Palm Beach County compared with a year ago, according to figured released by RealtyTrac. Three Factors That Could Shape the Fate of Housing Overhaul At last months annual mortgage-industry trade show, most political and industry analysts agreed that there arent great odds that Congress will pass a bill addressing the future of Fannie Mae.
Massachusetts nonprofit brings foreclosure relief program to Maryland This would be Boston Community Capital's first foray outside its home state. "Maryland has a very big foreclosure problem," said Elyse Cherry, CEO of the community development financial institution.
Forceful mayor's foreclosures
drastic
plan
to
stop
What the 5-foot-4-inch mayor of this working-class San Francisco Bay Area city does not resemble is the ready-to-march, dogged corporate thorn she is. Her latest opponent? Wall Street.
Tax Watchdog: Greenburgh offers amnesty amid foreclosures As the Town of Greenburgh prepares to begin foreclosure proceedings on at least 300 properties on Tuesday, it has launched an amnesty program to waive up to $6 million in interest charges that tax scofflaws have accumulated since 1995.
Milwaukee Mayor wants to hire "foreclosure czar" Milwaukee's mayor wants to hire a top official to be in charge of clearing out hundreds of foreclosed and abandoned houses. Tom Barrett has asked the Common Council to approve a "foreclosure czar" as part of next year's city budget.
As If Foreclosure Wasnt Bad Enough A new scam has hit the streets in California, and it hits hard at tenants who occupy property taken over through foreclosure. Here scam artists keep an eye out for rental homes, condos that are income property, rentals. They watch for auction dates, and when the bids are accepted, paid, and paperwork underway, these crooks arrive at the property with boilerplate copies to serve the tenants with preliminary notices to vacate.
Page 3 of 5
THURSDAY, NOVEMBER 21, 2013

Dear Chairman Bernanke And Comptroller Curry: We write today to follow up on your agencies' assurances that they would release a public report on the Independent Foreclosure Review (IFR) process. ....We have raised significant concerns about the decision to conclude the IFR process before all borrower requests for review had been satisfied and randomly selected samples of eligible loan files had been reviewed.

BofA Warns of More Legal Disputes as Potential Costs Rise The bank has already spent more than $45 billion on litigation, settlements and refunds for investors to compensate for shoddy mortgage lending, servicing and foreclosures. FRAUD! In Foreclosure Court Indymac/Onewest Doesnt Own Notes and Mortgages, But They Continue To Foreclose Anyway SoIf Indymac doesnt own servicing rights anymore why are they still in court getting judgments in their name?
Foreclosure Crisis Update Year Six of the great foreclosure crisis came to a close on June 30 with no real end in sight. Five million homes have been foreclosed and another million or more were surrendered by distressed home owners in short sales or otherwise. We are still far from returning to a stable.
Why the US Mortgage Market Will Remain Heavily Dependent on Government Support The implication is that the pet dream of Republicans, to kill the GSEs, isnt realistic unless they want to kill the housing market as it goes through a brutal transition period to more onbalance sheet bank lending.
Illinois Says Banks Modification Process
to
Improve
Loan-
Freddie Mac says three banks to pay a total of $1.3 billion to settle mortgage claims Mortgage finance giant Freddie Mac said Tuesday that three of the countrys largest banks Wells Fargo, Citigroup and SunTrust Banks had agreed to pay a total of $1.3 billion to resolve claims on millions of home loans.
Bank of America and the four other biggest U.S. mortgage servicers will put in place new procedures to improve the process for borrowers to seek loan modifications, Illinois Attorney General Lisa Madigan said.
New York to sue Wells Fargo over alleged mortgage pact violation The lawsuit follows months of fruitless negotiations between New York Atty. Gen. Eric Schneiderman and Wells Fargo, according to several people briefed on the decision. Schneiderman has threatened since May to file a lawsuit against the San Francisco bank, which is the largest mortgage lender and servicer.
Page 4 of 5
FRIDAY, NOVEMBER 22, 2013

Bair to Regulators: Dont Eviscerate Mortgage Rules In a comment letter sent to banking regulators, Sheila Bair, former chairman of the Federal Deposit Insurance Corp., criticized regulators decision to scale back a proposal to impose tougher standards on the mortgage-securities market. In August, six regulators including the FDIC and Federal Reserve reworked proposed rules requiring issuers of mortgage securities to retain 5% of the credit risk on their books.

Former Tarp Bank Official Charged With Bank Fraud And Money Laundering While employed with Onebanc, the indictment alleges that Sweet obtained thirty cash iers checks from January 2009 to October 2011 by using his position at the bank to sign cashiers checks drawn on a Onebanc clearing account. Judge Rakoff Blasts Breuer, Prosecution of Companies Rather than Individuals in Bar Speech Absent sitting on the Supreme Court, it is difficult for a single judge to effect much change. Yet Jed Rakoff, in sending the SEC back to the woodshed in two separate cases over its failure to get.
Be Skeptical Reporters Caught Not FactChecking Private Company Numbers Even though I know most print publications still employ fact-checking, Im seeing more and more major news media and magazine writers plug in numbers, sometimes unattributed, that no one checks. Servicers Advance Borrower Stops...WHY? Payments When
Banks Keep Breaking Into Houses, Homeowners Are Fighting Back
And
Every day in neighborhoods across the country, low-paid workers with little oversight or training decide whether to break into someone else's home. They are independent.
Bill Black: Why do Conservatives Oppose Prosecuting Elite Corporate Frauds? No honest home lender, of course, would inflate an appraisal. Appraisal fraud, like fraudulent liars loans, became epidemic. A national survey of appraisers conducted in.
.servicers are advancing payments to investors when the borrower stops paying. In fact, they advance those payments to investors after the declaration of default and even after the foreclosure is complete.
Written Testimony: Before the Senate Committee on Banking, Housing, and Urban Affairs Mortgage investment entails two principal types of risk: interest rate risk and credit risk. Credit risk is the risk that the borrower will default on the mortgage. Interest rate risk is the risk that interest rates will either rise in which case the interest rate the inves tor earns on the mortgage will be below market
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Weekend Edition - November 18, To November 22, 2013 - ForeclosureGate Gazette

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Weekend Edition - November 18, To November 22, 2013 - ForeclosureGate Gazette

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WEEKEND EDITION, NOVEMBER 18 NOVEMBER 22, 2013

MONDAY, NOVEMBER 18, 2013

Late Breaking Foreclosure Information At Foreclosure Crime Scene News >>>>

FHFA Offered Unqualified Foreclosures, Study Finds

WEEKEND EDITION, NOVEMBER 18 NOVEMBER 22, 2013

TUESDAY, NOVEMBER 19, 2013

Late Breaking Foreclosure Information At Foreclosure Crime Scene News >>>>

WEEKEND EDITION, NOVEMBER 18 NOVEMBER 22, 2013

WEDNESDAY, NOVEMBER 20, 2013

Late Breaking Foreclosure Information At Foreclosure Crime Scene News >>>>

Forceful mayor's foreclosures

WEEKEND EDITION, NOVEMBER 18 NOVEMBER 22, 2013

THURSDAY, NOVEMBER 21, 2013

Late Breaking Foreclosure Information At Foreclosure Crime Scene News >>>>

Illinois Says Banks Modification Process

WEEKEND EDITION, NOVEMBER 18 NOVEMBER 22, 2013

FRIDAY, NOVEMBER 22, 2013

Late Breaking Foreclosure Information At Foreclosure Crime Scene News >>>>

Banks Keep Breaking Into Houses, Homeowners Are Fighting Back

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