Bank Settlement Primarily Benefits Banks, Leaves Mortgage Fraud Victims in the Cold

The details of the national mortgage fraud settlement with Bank of America, JP Morgan Chase, CitiGroup, Ally Financial and Wells Fargo are in, and nobody is happy except the banks. Max’s initial reaction to the settlement: The reports released today by the Investigator General for HUD with respect to the five major banks involved in the settlement with the Department of …

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 …

Southern Essex District (MA) Register of Deeds John O’Brien Calls for Criminal Action against Big Banks

Salem, MA – January 18th, 2012 O’Brien calls for criminal action against the Big Banks Says they acted like “criminal enterprise” Saying that the time has come for a full scale criminal investigation, Southern Essex District Register of Deeds John O’Brien, today has sent some 31,897 of what he says are fraudulent documents that have been recorded in the Salem …

Justice for One Small Segment of Homeowners

Yesterday, 157 service members should have received letters advising them of the compensation they would receive from the Justice Department’s settlement with Bank of America over violations of the Servicemembers Civil Relief Act (SCRA).  Military personnel who were the victims of improper foreclosures while serving the nation will each receive a minimum of $116,875. The $20 million settlement is reportedly the …

Representative Tammy Baldwin Introduces Resolution Against Servicer Releases

For more than a year, we’ve been watching key players in the “investigation” by Attorneys General across the country into fraudulent and otherwise illegal mortgage and foreclosure practices drift toward an inadequate settlement based on insufficient information.  Individual AGs who object too strenuously to the rush to settlement, like New York Attorney General Eric Schneiderman, are ignored, reviled or even …

Max Gardner’s Bankruptcy Boot Camp Presents: Summary Judgment with Thomas A. Cox

Foreclosure defense often lives or dies on the outcome of a summary judgment motion:  in judicial foreclosure states, homeowners often find themselves defending against summary judgment; in non-judicial foreclosure jurisdictions foreclosure defense often means advancing a motion for summary judgment on a request for injunctive relief. The importance of these techniques doesn’t end there, either:  the same strategies can be …

A Guide to Foreclosure Fix Failures

Last week, ProPublica reported that it had finally obtained government audit reports of just one of the nation’s five largest loan servicers–GMAC–and that those documents had revealed significant flaws and lapses in the alleged governmental efforts to alleviate the national foreclosure crisis. Now, the site is following up that information with a comprehensive guide to the government programs intended (or …