Weekend Edition - November 25, To November 29, 2013 - ForeclosureGate Gazette

WEEKEND EDITION, NOVEMBER 25 NOVEMBER 29, 2013
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MONDAY, NOVEMBER 25, 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
Securitization, Foreclosure, and the Uncertainty of Mortgage Title The mortgage foreclosure crisis raises legal questions as important as its economic impact. Questions that were straightforward and uncontroversial a generation ago today threaten the stability of a $13 trillion mortgage market: Who has standing to foreclose? If a foreclosure was done improperly, what is the effect? And what is the proper legal method for transferring mortgages? These questions implicate the clarity of title for property nationwide and pose a too- big-to-fail problem for the courts.
Late Breaking Foreclosure Information At Foreclosure Crime Scene News >>>>

Ousted Fannie Mae CFO Tells His Side of the Story An overhaul of Fannie Mae and Freddie Mac continues to draw chatter in Washington, prompting a number of people to break long-held silence on the legacy of the governmentsponsored enterprises. Can Eminent Domain Be Used to Avert a Foreclosure Mess? This California City Thinks So Morris LeGrande believes that, sooner or later, the bank's going to come for his house. The 57-yearold jazz musician lives in the largely AfricanAmerican Park Plaza neighborhood of Richmond..
JPMorgan Settlement Complicated Washington Mutual: Sources
By
Wells Fargo is accused of bogging down mortgage modifications Wells Fargo & Co. subjects borrowers seeking mortgage modifications to "Kafkaesque delays and obstructions," in violation of last year's $25billion national mortgage settlement, New York Atty. Gen Eric Schneiderman said in a federal.
JPMorgan Chase & Co's possible $11 billion settlement of government mortgage probes has been complicated by a dispute with the Federal Deposit Insurance Corp over responsibility for losses at the former Washington Mutual Inc.
Florida foreclosure king is a scapegoat, attorney says at hearing It was the first day of a Florida Bar trial pursuing 17 complaints against attorney David J. Stern, whose Plantation-based company the largest so-called foreclosure mill in the state.
Nevada back in the hole of foreclosures Signs of "foreclosure" and "owned by bank" are still common throughout Sin City, and some parts of Nevada, as the silver state is once again taking the lead as the nation's highest in foreclosures.
QM and Nonjudicial Foreclosures The Dodd-Frank Act provides that failure to verify a borrower's ability to pay on a home mortgage entitles the borrower to a "asset a violation...as a matter of defense by recoupment or set off". 15 USC 1640(k). It's not clear me how this provision will play out in the context of nonjudicial foreclosures.
Homeowner/Foreclosure Q&A:
What are my options if soon to be ex-husband doesn't want to save the home from foreclosure?>>>> Do I have 30 days to Answer after publication as service?>>>> Can a mortgage company and foreclosure atty be sued?>>>> Cost of reopening a foreclosure>>>>
More Foreclosure News:

LinkZ: More September 2013 Foreclosure Related News, Worth A Peek>>>> Using Eminent Domain to Rescue Main Street>>>> Druckenmiller: Fed robbing poor to pay rich>>>> CFPB Examiners Find Mortgage Servicing Business Remains a Sewer>>>>
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TUESDAY, NOVEMBER 26, 2013

Democrats Criticize Regulator Over Delayed Foreclosure-Review Report Democratic lawmakers are still frustrated by a lack of information on the nearly 11-month-old multibillion-dollar settlement U.S. regulators announced to end a troubled review of foreclosure abuses. In a letter being sent Monday to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry, three lawmakers criticized bank regulators for failing to publish a report on regulators decision to halt the.

Financial Reform Is About to Catch a Second Wind And Elizabeth Warren is ready to ride it Financial reformers seeking new rules beyond the range of the Dodd-Frank law havent had much to cheer about this year. The chances of Congress passing new regulationsOK, passing anythinglook bleak. Federal regulator lays down the law for consulting firms Consultants are supposed to work at the behest of regulators to provide objective assessments of an institutions problems. But lawmakers have raised doubts about the independence of consultants handpicked by financial firms accused of.
How the banks' big foreclosure settlement cheated consumers Schneiderman's legal action reminds us what a scam that supposedly groundbreaking settlement Remember that was from the get-go. settlement? Trumpeted by the regulators as a huge victory for the consumer.
National foreclosure settlement rules tweaked amid complaints The $25 billion national mortgage foreclosure settlement is getting tweaked, to address numerous complaints that mortgage servicers are falling short in their dealings with struggling borrowers.
Home Price Growth Is Cooling Off Home prices grew by 1% month-over-month in August 2013, according to the latest Corelogic home price index, after growing 1.7% in July. This figure excludes distressed home sales transactions, in which a lender takes possession of a property following an unsuccessful.
Justices Deceit on the JPMorgan Settlement, and Why Ed DeMarco Should Get Some Apologies The fact that half of the fine would deal with WaMus liability in that FHFA lawsuit confirms that this is the model. If so, the way in which this is being presented by Justice and the New York..
What Rights Does Wells Fargo As Trustee Have To Forclose? In the decision, the District Court examined the denition of Mortgage Loan to determine Whether the parties to the transaction at issue intended that, for purposes ofthe defendant loan sellers repurchase obligation, a Mortgage Loan would survive even after it has been foreclosed upon and the mortgaged property sold.
Homeowner Resources:
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WEDNESDAY, NOVEMBER 27, 2013

A Most Important Appellate Case, My Client Wins At Trial, Then Is Reversed By Appellate Court This case truly is one of the most bizarreand most important foreclosure cases that Ive yet handled. A foreclosure is filed against a sick and elderly woman. At trial, I demonstrate all the problems with the banks caseand because the case was tried by a very good and very thoughtful trial court judge.

Oakland City Council members slow talk of anti-foreclosure plan in Oakland (Analysis) The Oakland City Council again squabbled and ultimately scheduled competing resolutions supporting Richmonds out of the box antiforeclosure proposal for later this month. IBANEZ & BACK: Attorney Glenn Russell Back in Front of the Mass Supreme Court Massachusetts Attorney Glenn Russell, thats him in the center of the picture above sorry about the quality, I took it myself with my iPhone, when we were both attending Max Gardners special.
Banks file largest one-day total of defaults for region Just one day before a law kicked in making it easier to avoid foreclosure, banks unleashed a torrent of filings to seize homes from delinquent Las Vegas borrowers. A total of 934 notices of default were filed.
Vampire foreclosures are whats keeping bank inventory high, analyst says As if rising mortgage rates arent scary enough, analysts have identified a lurking threat to housing: vampire properties. These vampire properties are bank-owned foreclosed homes in which prior owners continue to live.
HSBC Unit Judge Orders Judgment on $1.5 Billion in Claims The HSBC Holdings Plc (HSBA) unit once known as Household International Inc. lost its bid to undo a 2009 securities fraud trial verdict and is liable for about $1.5 billion in damages plus interest, a judge ruled.
HUD Announces New Short Sale Requirements To be eligible, one must successfully complete a short sale under the FHA short sale program. The borrowers must meet the following requirements: 1) They cannot list the property with or sell it to anyone with whom they are related or have a close personal.
Surviving Spouses With Reverse Mortgages Win Case Its a jarring situation: Your spouse dies, and you end up facing the possible loss of your home through foreclosure-just because you arent listed as a borrower on a reverse mortgage on your home. Thats what happened to Robert Bennett of Annapolis, Md., when his wife died in 2008.
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THURSDAY, NOVEMBER 28, 2013

Sigtarp Investigations Team Recognized For Excellence This is the third straight year SIGTARP investigators have been recognized for their superior work in rooting out fraud to protect taxpayers TARP investments , said Christy Romero, Special Inspector General for TARP (SIGTARP) . This recognition highlights SIGTARPs commitment to exposing fraud related to TARP undertaken at the expense of the Ame rican public . SIGTARP and our law enforcement partners will continue to bring justice to those who seek to exploit and defraud TARP."

How to save the housing market save Fannie Mae and Freddie Mac Fannie and Freddie are the outgrowth of the New Deal belief that housing is a public good, and an effective government will do what it can to make home ownership possible for as many people as possible. CFPB Finalizes 'Know Mortgage Disclosures Before You Owe'
The new Know Before You Owe mortgage forms will replace existing federal disclosures, and the CFPB says theyll help consumers better understand their options, comparison shop for the best mortgage deals.
Thousands of NYC residents still living in foreclosed homes Thousands of metro-area residents are still living in their foreclosed homes, even after ownership has reverted to the bank. In its first look at the.
S. 1187: Mortgage Forgiveness Tax Relief Act 6/19/2013--Introduced. Mortgage Foregiveness Tax Relief Act - Amends the Internal Revenue Code to extend through 2015 the exclusion from gross income of income attributable to the.
New Loan Rules Set as Complaints Linger More than a year after five large banks agreed to pay $25 billion and improve their foreclosure practices, the lenders are facing fresh criticism for failing to live up to their end of the bargain. The overseers of the February 2012 settlement.
Blackstone Opens Europe Distressed Deals Surge
Spigot
as
Blackstone Group LP (BX) raised more than $4 billion in 2009 to buy European property assets anticipating that cash-strapped banks would be forced to sell as the regions debt crisis worsened.
South Carolina Court Dismisses Foreclosure Based Upon U.S. Supreme Court Decision Unless a claimant can colorably assert a loss, it lacks standing. See Lujan v. Defenders of Wildlife, 504 U.S., 560 (1992) (noting that an injury is a required element of constitutional standing)) if a claimant has suffered a loss, but has no colorable claim that the loss was caused by the spill, it also lacks standing and cannot state a claim.
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FRIDAY, NOVEMBER 29, 2013

Show Me the Money! First, in most cases, the securitization process never happened despite the pile of paper generated by the sham securitization scheme. The mismanaged money of investors really amounts to intentionally NOT depositing the investor money into the trusts that had issued the bonds. It also represented a whole different world of underwriting that broke every rule in the book for risk management. But that was the point.

Ex-Credit Suisse Executive Sentenced in Mortgage Bond Case A former top executive at the Credit Suisse Groupsentenced to two and a half years in prison on Friday for inflating the value of mortgage bonds as the housing market collapsed. WHY! Are So Many Consumers in Foreclosure Just Letting The Banks Take Their Homes? As Ive been carefully examining the judgments that are being entered in the midst of the purge, the thing that is most compelling by far is the vast number of foreclosure cases that go through the system completely undefended.
Gretchen Morgenson: Tide Turning as Judges Get Irritated by Bank and Lawyer Behavior The Judges here in Tallahassee and elsewhere are taking note that the banks are curiously opposing our attempts to move the case along. The resulting shift in perception is palpable.
Many community banks still struggle to repay TARP bailout funds Five years after Washington bailed out more than 700 banks, the money has become a burden for more than 100 community banks that can't seem to repay it. About a dozen of those are in California.
Foreclosures spike before new Nevada law takes effect The number of initial foreclosure notices in Nevada spiked just before Oct. 1, the day a state law that adds more steps for lenders seeking to foreclose took effect.
Banks abandon mortgage preapprovals Buyers rely on preapprovals to make sure theyre shopping for a home thats in their price range. But new federal data suggests lenders are scaling back on preapprovals.
FHFA and Zillow Talk HARP Hosting the call was Erin Lantz, Zillows director of mortgages. Responding to borrowers worries about their financial situations, Burns reiterated that HARP has no minimum income or credit score requirements (though different lenders may have their own criteria).
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Weekend Edition - November 25, To November 29, 2013 - ForeclosureGate Gazette

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Weekend Edition - November 25, To November 29, 2013 - ForeclosureGate Gazette

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WEEKEND EDITION, NOVEMBER 25 NOVEMBER 29, 2013

MONDAY, NOVEMBER 25, 2013

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

JPMorgan Settlement Complicated Washington Mutual: Sources

More Foreclosure News:

WEEKEND EDITION, NOVEMBER 25 NOVEMBER 29, 2013

TUESDAY, NOVEMBER 26, 2013

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

WEEKEND EDITION, NOVEMBER 25 NOVEMBER 29, 2013

WEDNESDAY, NOVEMBER 27, 2013

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

WEEKEND EDITION, NOVEMBER 25 NOVEMBER 29, 2013

THURSDAY, NOVEMBER 28, 2013

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

Blackstone Opens Europe Distressed Deals Surge

WEEKEND EDITION, NOVEMBER 25 NOVEMBER 29, 2013

FRIDAY, NOVEMBER 29, 2013

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

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