Daily Archives: February 8, 2013

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Lindsay Lohan has been served with a foreclosure notice

Lindsay Lohan has been served with a foreclosure notice

Lindsay Lohan has been served with a foreclosure notice as a bank prepares to repossess the New York home where she has reportedly been living with her mother.

The actress is said to be staying with her mom, Dina, at her mansion in Long Island, NY, in recent weeks, but the property is currently at the center of a financial storm.

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Libor scandal: ‘This goes much, much higher than me,’ says trader Tom Hayes at centre of probe

Libor scandal: ‘This goes much, much higher than me,’ says trader Tom Hayes at centre of probe

Tom Hayes, the trader at the centre of the Libor-rigging scandal, has warned that the conspiracy to manipulate key global borrowing rates could implicate senior bank executives.

In a text message to the Wall Street Journal, Tom Hayes, the former senior trader charged by the US Department of Justice in connection with interest rate-rigging said: “This goes much, much higher than me.”

Mr Hayes, a former UBS trader, was arrested by British police in December in connection with a UK criminal investigation into Libor manipulation, but has not been charged.

Jennifer Arcuri, described by the Wall Street Journal as a close friend of Mr Hayes, defended him saying he believed he was “innocent” and intended to implicate his seniors in the scandal. “He had no idea this was going to come back at him,” she told the newspaper.

She added that Libor-rigging “was a common industry practice”, saying: “It was like spanking children in the ‘70s – it wasn’t bad.”

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Sen. Merkley to oversee Dodd Frank-centric subcommittee

Sen. Merkley to oversee Dodd Frank-centric subcommittee

Oregon’s junior U.S. senator has landed a plum financial services subcommittee chairmanship.

Sen. Jeff Merkley will become chairman of the the Senate Banking Committee’s subcommittee on economic policy. The subcommittee oversees issues related to economic growth, employment and price stability. It also examines monetary policy and small business lending.

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Moody’s CEO Says He Is Unaware of Any Plans by DOJ to Sue Ratings Agency

Moody’s CEO Says He Is Unaware of Any Plans by DOJ to Sue Ratings Agency

Moody’s (MCO) chief executive told investors Friday he is unaware of plans by federal and state officials to sue the company for allegedly misleading investors in the run-up to the housing crisis.

“We don’t have any knowledge of any impending complaint by the Department of Justice raising similar claims against Moody’s,” said McDaniel, referring to a lawsuit on Tuesday by the government against Standard & Poor’s, a unit of McGraw Hill (MHP).

RI SUPREME COURT HEARS APPEAL IN SIGNIFICANT HOME FORECLOSURE CASE

On Thursday, February 7th, 2013, Attorney Corey Allard from the Law Office of George E. Babcock, will be arguing an appeal in the Rhode Island Supreme Court in the home foreclosure case of Bucci vs. Lehman Brothers Bank. This case could set precedent in Rhode Island home foreclosure law.

Allard will be arguing an appeal of the 2009 decision by Providence Superior Court Judge Michael A. Silverstein that upheld the right of MERS — the Mortgage Electronic Registration Systems Inc. — to foreclose in Rhode Island. In 2009, Attorney George Babcock filed a lawsuit on behalf of his clients that halted Lehman Brothers Bank, FSB, a Federal Savings Bank, MERS, and Aurora Loan Services, LLC from being able to place the Bucci’s home up for sale.

“Depending how the courts rule this case could set a precedent in Rhode Island foreclosure law that could affect hundreds of foreclosure cases in Rhode Island.” Said Attorney Allard

Babcock has built one of the largest home foreclosure defense practices in the country since the start of theMortgage crisis. “ The case of Bucci vs. Lehman Brothers Bank is one of the first cases where we were able to demonstrate an injustice that companies like Lehman Brothers Bank impose on homeowners.” Said Attorney Babcock

For more information on the case please click here http://goo.gl/v4Aqu

Or contact Alicia Vanasse at (401)743-1051 or via email Alicia@VanasseMedia.com

The Rhode Island Supreme Court is located at the Frank Licht Judicial Complex, 250 Benefit St #7 Providence, RI 02903.

Oral arguments in the case will be presented at 9:30 am.

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Link to Blog Post:

Oral Arguments to be presented to Rhode Island Supreme Court in significant Home Foreclosure Case

http://www.babcocklawoffices.com/index.php/view-posts/23-oral-arguments-to-be-presented-to-rhode-island-supreme-court-in-significant-home-foreclosure-case

Former JP Morgan Chase employee and whistleblower’s letter concerning JP Morgan Chase and NCO Group

The following information that I will share with you was actually share with me by whistleblower Linda Almonte. The first letter is to the SEC about the interrelationship between NCO Group Inc. which is indirect and majority-owned subsidiary of JP Morgan Chase and JP Morgan Chase itself. Almonte was an employee of both JP Morgan Chase and NCO Group. And the other letter is from Almonte’s lawyer to SEC Complaint Center in 2010:

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Woman ‘tags’ home with message to her bank ‘JPMorgan Chase is stealing this home’

Woman ‘tags’ home with message to her bank ‘JPMorgan Chase is stealing this home’

AURORA, Colo. – A frustrated Aurora homeowner spray-painted a message to her lender on her garage door after a 21 month foreclosure battle with her bank.

Michelle Hansen sprayed this message to her bank and its CEO on her garage Monday:

“Jamie Dimon & JPMorgan Chase
JP Morgan Chase is stealing this home. Ignores homeowner for 21 months!! I will not violate federal law on your behalf as a condition of communication from you! Call me. Chase Me!! (heart) you.”

Hansen told 7NEWS she contacted her bank in May 2011 to notify them she would be delinquent on her mortgage payment. She was told they would work with her on a loan modification.

Two months later, she said, they refused to work with her or take her money.

“You’re told we need A, B and C so you give them A, B and C and then, ‘No we need this and then we’ll talk to you.’ So you did it and they keep lying,” Hansen said.