Tom Cox is profiled in an article for Fortune/CNN, discussing his interesting path leading up to his fight against fraud in the mortgage industry and saving peoples’ homes. When I was in private practice, I had law partners that I was seeing every day. I maintain relationships with some of them today, we took great pride in representing our clients …
Boot Camper Jamie Ranney in the News for Taking on the Big Banks
Ranney’s commitment to the rule of law and aversion to the “Parade of Horribles” he’s seen in bank behavior had led to a personal crusade–and to front-page coverage in his local Nantucket newspaper, where he’s fighting to keep local residents in their homes. Follow the links below to read the full article. Ranney I&M 7-3-13 – PAGE ONE Ranney I&M …
Bank of America Employees Rewarded for Pushing Homeowners Toward Foreclosure
The affidavits of six former Bank of America employees in a Massachusetts lawsuit filed on behalf of Bank of America borrowers in several states tell an unsavory tale of systematic denials of HAMP modifications, repeated requests for information readily available in multiple systems as a delaying tactic and even bonuses and rewards for employees who tracked homeowners into foreclosure. Statements …
NakedCapitalism’s Take on OCC Mandated Reviews
Yves Smith over at nakedcapitalism.com posted an article yesterday Pending Foreclosure Fraud Settlement Achieves New Level of Abject Regulatory Failure that you should read in its entirety. Here is a snippet: This latest bank gimmie comes in the retrading of consent orders that were entered into in April 2011. Readers who followed the mortgage beat closely may recall that the OCC …
The Next Line of Defense in the Battle Against Foreclosure Fraud
Law enforcement officials across the country let us all down with a bank “settlement” that was all concession to the institutions that caused the problem and very little protection for the victims of the foreclosure crisis or the economy. It’s still the rare court that fully understands the issues and has the courage to do the right thing. With all …
Foreclosure Fraud – In the Beginning
Max Gardner’s long-standing battle against predatory lenders, mortgage foreclosure fraud and dishonest debt collectors is well known to those who follow these issues. Nye Lavalle’s diligent years-long effort to document and expose the flaws in the mortgage servicing and foreclosure process is certainly well known now through this explosive New York Times article. What most don’t know is that Max and Nye first connected about …
Fannie Mae Didn’t Act on Early Evidence of Foreclosure Fraud, Impropriety
“Any attorney general, lawyer, bank director, judge, regulator or member of Congress who does not open their eyes to the abuse, ask pertinent questions and allow proper investigation and discovery is only assisting in the concealment of what may be the fraud of our lifetime.” -Nye Lavalle Quite possibly, you’ve never head of Nye Lavalle. If you have, it probably …
The ABCs and UCC Comes to Florida
Attacking the secured status of the Trustee of residential mortgage backed securitized trusts and the mortgage servicer’s standing to foreclose is critical to protecting the homeowner’s rights. But advancing those arguments requires a solid understanding of how securitization is supposed to work, which in turn requires a thorough understanding of UCC Articles 3, 9 and 1-302. This session offers the most …
O Max Gardner III’s Top 12 Predictions for 2012
1. Home Values: Home values will continue to decline during 2012 and I do not expect the bottom of the real estate market to be reached until the 3rd Quarter of 2014. My best guess for any type of sustained recovery in the housing market is no sooner than the 3rd Quarter of 2021. The number of homes in foreclosure will …
Sorry ‘Bout that Wrongful Foreclosure…Here’s $1500
David Dayen at Firedoglake took a look at the latest version of the proposed foreclosure fraud settlement this morning, and (surprise, surprise), it’s still “woefully inadequate”. In a nutshell, those who lost their homes to fraudulent proceedings would get about $1500–about enough to pay a security deposit on a nice place in the midwest or a studio apartment (maybe) in …