[with 2021 updates] In the latest foreclosure fraud scandal to come to light, Nationstar Financial admitted that it halted foreclosure proceedings in 23 states after receiving multiple complaints from state authorities. The admission came to light in documents filed with the SEC. This admission comes at a time when Nationstar is trying to raise $1.4 […]
4 Million And Counting – People Facing Wrongful Foreclosure
by Brian Mahany Some call it a national embarrassment. We call it a crime. Wrongful Foreclosure. It’s happened to millions of Americans and it still happening today. The Comptroller of Currency and the Federal Reserve say that as many as 4 million people were wrongfully foreclosed between 2009 and 2010. Some were promised a HAMP […]
Federal Appeals Court Rules In Favor Of Homeowner In Sub Prime Case
by Brian Mahany We keep saying that courts are finally beginning to wake up and realize that not all lenders and loan servicers were created equally. Recently a federal trial court in Ohio tossed claims against Bank of America and its progeny, Countrywide Home Loans. A husband and wife homeowner sued the lenders for fraud […]
Washington State Attorney General Takes on MERS
by Brian Mahany Earlier this year the state attorney general of Washington filed a brief with the Washington State Supreme Court taking on MERS. We are happy to see elected officials finally realizing the mortgage mess is not going to fix itself. In the case of Kristin Bain versus Metropolitan Mortgage Group, the A.G. weighed […]
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 […]
Foreclosure Abuse – Law Firm To Pay $4 Million!
by Brian Mahany We are not big fans of the large mortgage lenders and servicers. MERS (Mortgage Electronic Registration Systems Inc.) is pretty far down on our list too. But besides from being overworked and often not returning calls for weeks, we don’t have too many bad things to say about the law firms that […]