Daily Archives: June 28, 2012

Del AG Biden brings fight for Servicemember Financial Protections to Washington

SCOTUS 5-4 decision-US Supreme Court rules on Healthcare Act

Federal Home Loan Banks Increased Exposure to Europe as Advances Fell

In a startling report, the FHFA’s inspector general said that the Home Loan banks extended credit to firms on the brink of failure, in part to make up for declining advances.

Source:  American Banker

LPS retaliates, countersues Nevada AG Masto

The foreclosure processor sued by Nevada Attorney General Catherine Cortez Masto in last year’s robosigning cases has now retaliated, suing Masto and alleging due process violations.

In December, Masto’s office sued Lender Processing Services Inc. (LPS) of Jacksonville, Fla., claiming it was involved in widespread fraud involving mass document-signing procedures in which foreclosure documents were fraudulently notarized by the thousands. That suit remains active in Clark County District Court.

The investigation that led to her suit also resulted in criminal charges against several notaries and two LPS officers.

On Wednesday, attorneys for LPS sued Masto in federal court in Las Vegas charging its due process rights were violated in the investigation.

Read on.

 

Federal judge hears challenge by six banks to Springfield foreclosures

Judge hears challenge to Springfield foreclosures – CBS 3 Springfield – WSHM.

 

A federal judge has heard arguments in a lawsuit by six banks seeking to overturn two anti-foreclosure ordinances in Springfield.

 

U.S. District Judge Michael Ponsor did not immediately rule Wednesday after hearing arguments from lawyers representing the banks and the city of Springfield.

 

The banks sued after the Springfield City Council passed the ordinances last summer. One would require mortgage lenders to engage in mediation with homeowners facing foreclosure or face a $300 per day fine. The other would require lenders to put up a $10,000 bond to secure and maintain their foreclosed and vacant properties.

 

JUDGE BROWN TILTING TOWARD HOMEOWNER WITH WRONGFUL FORECLOSURE AND SECURITIZATION Ziolkowski v HSBC – Sac Dmr Dept 53 California

THIS JUDGE STARTING TO GET IT. SACRAMENTO

RECUSAL LAWS FEDERAL JUDGES DOCUMENT

Biloxi Buzz for Thursday

News Corp. Board Approves Split

Russia Backs U.N.’s Syria Solution

Man Acquitted On ‘Stand Your Ground’ Defense Shot Dead

Rape Victim Denied Emergency Contraception By Jail Guard

Congress Honors First Black Marines

Fannett woman wins $300k from Bank of America – 12 News KBMT and K-JAC. News, Weather and Sports for SE Texas

Fannett woman wins $300k from Bank of America – 12 News KBMT and K-JAC. News, Weather and Sports for SE Texas.

 

Jefferson County 58th district court Judge Bob Wortham sanctioned Bank of America to pay 47-year-old Fannett resident Trudie Crutchfield $300,000 after a lawsuit has gone unsettled for 5 years.

Crutchfield says the “nightmare” of three court cases against big banks started after Hurricane Ike in 2005. Her then mortgage company, Countrywide Home Loans sent her a letter saying she didn’t have to pay her mortgage for three months so she could get back on her feet after the hurricane damaged her home, meaning no late fees, no penalties, and no reports to credit bureaus.

After the three months Countrywide sent her a letter saying there was late fees, she owed the 3 months mortgage up front, and the three months of missed payments affected her credit. That’s when Crutchfield found Beaumont attorney Wayne Snider to represent her.

After court case number one against Countrywide, there was a settlement. Crutchfield continued to pay Countrywide her mortgage on time but Countrywide said she no longer had a loan with them.

Then Bank of America bought Countrywide and started harassing Crutchfield for payment. She filed a lawsuit after she received a foreclosure notice near the holidays in 2008 and won but since she never received settlement.

 

Imagine losing your entire life savings in one afternoon. It happened to a Texas couple who Citi sold home

Investigation: Mortgage meltdown – Dallas News | myFOXdfw.com.

 

DALLAS –

 

Imagine losing your entire life savings in one afternoon. It happened to a Garland couple and it is happening all over North Texas. The housing market impacts everyone whether you own or rent. When homes go into foreclosure, it takes down a neighborhood’s value and the impact trickles down to everyone.

 

Robert and Sherry Durham are typical of so many North Texas homeowners. They have lived in their Garland home for 19 years, faithfully paying their monthly mortgage payment. The Durhams said they were just a few years away from having their home completely paid off when Robert lost his job. They contacted CitiMortgage, the company that serviced their loan, about getting some hardship assistance. Robert said after sending all the paperwork, they thought it was all good.

 

“I was confident that CitiMortgage was working with me, to help save our home because of our payment history,” said Robert Durham.

 

When a foreclosure letter arrived in March, the Durhams didn’t panic or try to sell. They were talking with CitiMortgage representatives and thought they were getting a loan modification. That is what a CitiMortgage supervisor told them by phone just a week before the foreclosure sale. The Durhams recorded the call.

 

“I have confirmed that yes, there is one specific program that can be done. It is not going to be anything fancy for you but it will clear your arrearages out and even reduce your payments to $531 a month and at least it will be a permanent fix. If I have your documents tonight, at the latest tomorrow, I think we can get approval stamped for you to at least get you some kind of help here, drive that payment down, bring you current again.”

 

The Durhams faxed the paperwork that night, then started calling and calling. Nothing. Then an email arrived on the day of the sale. It stated CitiMortgage was “unsuccessful.” It was too late, “due to the foreclosure sale being within 7 days.”