FRIDAY JULY 6, 2012

ACADEMIA

ADVERSARIES

ADVOCATES

BLOGOSPHERE

LEGAL

LEGISLATE

OP-ED

HOMEOWNERS NEWS

ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.- John Adams, A Defense of the American Constitutions , 1787
Foreclosure Review: Opportunities Exist to Further Enhance Borrower Outreach Efforts Conducting readability tests or using focus groups are generally considered best practices for consumer outreach, but regulators and servicers did not undertake these activities. Staff at the Board of Governors of the Federal Reserve System (Federal Reserve) said that this was, in part, a trade off to expedite the remediation process. Countrywide Used Loan Discounts To Buy Congress, Fannie Mae Execs, Other Government Officials: Report The report, obtained by The Associated Press, said that the discounts from January 1996 to June 2008, were not only aimed at gaining influence for the company but to help mortgage giant Fannie Mae. Countrywide's business depended largely on Fannie, which at the time was trying to fend off more government regulation.

Lynn Szymoniaks Story in 60 Minutes Wins Prestigious Loeb Award Earlier this month, I had the pleasure of appearing on a panel at Netroots Nation with, among others, Lynn Szymoniak, the lawyer and forensics expert who during her own foreclosure case recognized the massive fraud in documentation being perpetrated by banks. Lynn devoted the next several years to rooting out this fraud and telling anyone who will listen about what the banks were doing.

Role of Commercial Watchdogs Is Cut

Mortgage

Bond

In the dark days of the downturn when financial markets seized up, Wall Street firms tried to jumpstart the commercial-mortgage-backed securities business by adding a watchdog into the process to protect investors. Now, those watchdogs are losing their fangs. Starting in 2009, most issues of commercial-mortgage securities included a new player: a so-called operating adviser whose job is to make sure.

Bank of America slapped with $300k sanction for violating Beaumont woman's mortgage settlement On Wednesday a local judge sanctioned Bank of America for $300,000 for violating a mortgage settlement agreement with a Beaumont woman. As the Southeast Texas Record previously reported, Trudie Crutchfield filed a lawsuit May 7 in Jefferson County District Court against Bank of America Corp., formerly known as Countrywide Home Loans.

What are renters' rights in foreclosure cases? Question: The house I was renting went to foreclosure. We have a lease with six months left, but the bank told us we have to move out. We want to stay through our lease. They said our lease is no good anymore. Can we stay? Kellman: Residential tenants caught up in the landlords foreclosure problems sometimes face some difficult and confusing situations.

Former Fund Mgr Pleads Guilty Defrauding Investors And TARP Banks

To

Mortgage-Modification Program (Barely) Beats Critics Forecast In December 2010, the Congressional Oversight Panel, which oversaw the 2008 financial rescue, predicted that the HAMP program would only prevent 700,000 to 800,000 foreclosures. The report added that the programs prospects are unlikely to improve substantially in the future.

John Farahi, 54, of Bel Air Estates, pleaded guilty to four felony counts mail fraud, loan fraud, selling unregistered securities, and conspiracy to obstruct justice while collaborating with his corporate counsel to cover-up the fraud. Farahi formerly ran the Beverly Hills-based New Point Financial Services, Inc.