by Brian Mahany Bank of America chief executive officer Brian Moynihan’s deposition was just filed with the court after Thanksgiving. It reminds of some of the transcripts I have read dealing with mobsters. If there was an Academy Award or Oscar for the most stonewalling, Moynihan would be a shoe-in. Insurance giant MBIA sued Countrywide […]
Michigan Homeowners Score Appeals Court Victory Against Citibank
by Brian Mahany As we have said many times, the tide is beginning to turn against big banks and in favor of homeowners. For many years, courts simply rubber stamped foreclosure petitions. Now they are much more carefully scrutinized; particularly those filed by the nations largest banks – the so called “too big to fail.” […]
States Steal Much of $2.5 Billion Big Bank Settlement Monies
by Brian Mahany Waiting for your slice of the $25 billion mortgage foreclosure settlement monies? You might be waiting for a long time. Like forever. While I realize the term “steal” as used in this title is a pretty serious accusation, even HUD is upset at what many states have done with the settlement funds. […]
How Low Can They Go? Bank Of America Claims Death of Child Not A Hardship
by Brian Mahany By now, I should be numb to the suffering caused by Bank of America and other large lenders and mortgage servicers. That’s what they want but instead, I am fighting angry. So are millions of homeowners too. If you think we climb the soapbox a little too often in this blog, read […]
Homeowners – 1, Bank of America, Wells Fargo -0
by Brian Mahany Despite the turning tide, big banks continue to win many court battles. Individual homeowners just can’t afford to take on the banking giants and their Park Avenue lawyers. Now and then, however, homeowners win. And some times they win big. Every victory empowers more and more homeowners to come forward. Last week’s […]
Mortgage Task Force: "We'll Take Action Soon"
by Brian Mahany Every day we are contacted by at least 2 homeowners struggling to keep their home. Although we are not mortgage foreclosure defense lawyers, we do sue banks and bankers for fraud, foreclosure abuses and wrongful HAMP denials. Business is booming, unfortunately. The so-called mortgage crisis began when the housing market melted down […]
Bank of America Settles HUD Complaint Alleging Disability Discrimination
by Brian Mahany Bank of America settled federal charges that it violated the Fair Housing Act and Equal Credit Opportunity Act. The complaint was brought by HUD on behalf of disabled borrowers. Federal law forbids banks from discriminating against borrowers on the basis of disability. As long as you can afford your mortgage, bankers should […]
Can I Sue For Denial Of HAMP Loan Modification?
by Brian Mahany “Can I sue for denial of a HAMP loan modification” is a question we frequently hear. Some lenders (Bank of America, Citi, Wells Fargo) seem to run borrowers through the ringer only to ultimately deny them a mortgage modification. That’s a shame since Congress authorized the Home Affordable Modification Program as part […]
The Secret Life Of A Whistleblower
Whistleblowers are true heroes – their actions save taxpayers billions of dollars each year, help struggling homeowners and sometimes even save lives. The road can be a bit lonely however. This post looks at the story of Kyle Lagow, a former real estate appraiser with Countrywide Financial (now Bank of America). Lagow was recently awarded […]
JPMorgan Loses $2 Billion, Calls Loss A "Stupid" Mistake
by Brian Mahany Originally, I wasn’t going to write about the $2 billion loss suffered by banking giant JP Morgan. After all, it just affects investors foolish enough to have purchased stock in the bank. (JP Morgan’s stock plunged after the loss became public.) The response to the loss in recent days is what has […]