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(From the collection of Lew Baer at www.postcard.org) Aequitas Compliance Solutions, a Newport Beach mortgage regulatory compliance firm, was hired by Phil Ting, the San Francisco assessor-recorder, to audit the files of nearly 400 foreclosed properties in his county. Their report titled “Foreclosure in California: A Crisis of Compliance” was just released. About 84 percent [...] Linda Green's changing signature (Source: Washington Post 23 Sep 2010) Last week a Missouri grand jury handed up an 136-count indictment accusing DocX of forgery. DocX, a now-closed unit of Lender Processing Services of Jacksonville, Florida, was one of the largest companies that provided home foreclosure services to lenders across the country, including Wells Fargo, [...] The state Supreme Judicial Court yesterday upheld a judge’s decision saying two foreclosures were invalid because the banks didn’t prove they owned the mortgages, which he said were transferred into two mortgage-backed trusts without the recipients’ being named. Weaselly spokespersons for the various banks involved amusingly tried to spin this as minor and just a [...] The 50 state attorneys general investigating foreclosure fraud are opting for settling with the five biggest as civil matters So the standard is that if you’re a bank, you can break the law. Any law – and it’s not criminal. At worst it’s a civil matter. Maybe. And here I thought our State [...] This precisely echoes how it was bloggers who broke the subprime story, while the mainstream media initially mocked them while doing nothing. Then finally managed to stumble across the story after bloggers did the hard work for them. WaPo profiles the bloggers at 4closeurefraud.org whose determination and research ignited foreclosure-gate. But, as it too [...] BofA denial over foreclosure-gate Pimco, NY Fed wants to force BofA to repurchase garbage mortgages. Pimco manages hundreds of billions in bonds and is a very big dog indeed Chicago sheriff says no to enforcing foreclosures. This is the same sheriff who a while back refused to evict renters who were in homes that [...] It’s happening: The Right is turning against Wall Street. Specifically Tea Partiers, and in opposition to the Republican Party too. More, please. Smoking gun: New evidence of How Wall Street shafted pension funds by misrepresenting mortgages; Rep Miller calls for full audit of Fannie Mae Calculated Risk details how foreclosure mills were pumping out [...] In case anyone has any lingering ideas as to where Obama’s loyalties lie. I get a sinking feeling hearing that the White House is encouraging a bunch of liars and cheats to “reconstruct” paperwork. I thought that was the big problem: banksters and their hired guns are making up documents and lying in affidavits and [...] How subprime mortgage processing works, via the fine folks at Zero Hedge We now have confirmed instances, including 911 calls, of banks hiring people to break into homes where the foreclosure has not yet taken place, and in some instances, they’re breaking into the wrong house. That’s illegal – until the bank has a court order giving them possession, they don’t have possession and they have [...] |  | ||||
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