A message from a blogger regarding fraud

A message that I received:

Andrea Metcalf

JusticLeaugueSite

andim8264@gmail.com

73.36.134.70

Submitted on 2015/05/10 at 3:22 pm

How do I reach you guys? I am Andrea Metcalf from May 2013 whose home was stolen through Fraud…I had a news story done on my house with Gilford County fighting to protect consumers against MERS…The story is gone from the internet. The Suntrust is having to take paperwork for their wrong doings in NC finally and I want this story that aired on the nightly news with Bill McQinty to be part of my paperwork…I lost everything through fraud after paying $73K on a house that sold for $150K…I want justic. Please help me. Andim8264@gmail.comor 704-495-5016.

along this message that I received:

Green Tree Mortgage Servicer Accused of Abusing Customers

From The Plain Dealer:

CLEVELAND, Ohio — A national mortgage servicing firm accused of abusing homeowners who are behind on their mortgages by swearing at them, calling them names, mocking their illnesses and threatening them with prison will pay out more than $60 million.

Green Tree Servicing of Minnesota will pay $48 million in restitution and $15 million in civil penalties to settle the charges of illegal loan servicing and debt collection practices. The Federal Trade Commission and Consumer Financial Protection Bureau allege the company has spent the years since the financial crisis terrorizing homeowners who were in trouble financially.

Casey: Elliston couple files lawsuit against Suntrust, Fannie Mae, Nationstar, and Professional Foreclosure Corp. of Virginia in mortgage mess

Home was sold at auction behind their backs

Timeline of events in Heckman v. Suntrust et al.

The timeline below is based on court documents, interviews and allegations in a March lawsuit by Elliston residents Trinity and Jessica Heckman against Suntrust Mortgage, Fannie Mae, Nationstar Mortgage and Professional Foreclosure Corp. of Virginia.

• June 2006 — Trinity and Jessica Heckman purchase their home in Elliston for $134,000. They get a mortgage with Flick Mortgage Partners and the payment is about $1,100 per month. The loan is later taken over by Suntrust Mortgage.
• November 2006 — The Heckmans allow Suntrust to begin automatically withdrawing $550 mortgage payments from an account at BB&T every two weeks.
• February 2007 — A Suntrust rep phones the Heckmans and warns them they’re behind on their mortgage. Jessica tells him about the automatic withdrawal agreement. He says he’ll check into that, and calls back a week later, apologizing for the inconvenience.
• November 2007 — Suntrust sends the Heckmans a letter indicating the Heckmans are in default. Jessica checks her bank statements again and realizes Suntrust has been automatically withdrawing the payments from her account, but that in September it had redeposited more than $6,000 to it. She offers them that money but Suntrust wants $12,000 to get current.
• November 2007 — The Heckmans apply for a mortgage modification through Suntrust and agree to raise their monthly payments to $1,400 while that application is being processed. Suntrust says this will forestall the foreclosure.
• December 2007 — In The Roanoke Times legal ads on Dec. 20 and Dec. 27, the Heckmans’ home is advertised for a foreclosure auction scheduled for Jan. 4, 2008. Jessica calls Suntrust and they tell her not to worry; they’ve canceled the sale.
• Jan. 4, 2008 — At Suntrust’s direction, Professional Foreclosure Corp. of Virginia auctions the Heckmans’ home, on Jan. 4, 2008. FannieMae pays $117,500 for it. The Heckmans are unaware of the sale.
• Jan. 22, 2008 — Professional Foreclosure files a deed in Montgomery County Circuit Court naming the owner of the home as Fannie Mae.
• February 2008 — Jessica Heckman finds an eviction notice on her door that gives the couple two weeks to get out. She calls Suntrust and they tell her it’s a mistake and not to worry.
• May 2008 — The Heckmans’ mortgage modification is approved, and the modification is recorded in Montgomery County Circuit Court in October 2008. The Heckmans’ payment climbs to $1,444 per month.
• December 2010 — Suntrust transfers the mortgaging servicing to Nationstar Mortgage of Texas. The Heckmans continue the $1,444 payments.
• August 2012 — Nationstar sends the Heckmans a $1,000 check. It tells the Heckmans that was for escrow overpayments, and later the company cuts their monthly payment to $1,333.
• March 2013 — Nationstar has a title search done on the Heckmans’ home. The title search reveals the house was sold at foreclosure in 2008 and that Fannie Mae is now the deed holder. Nationstar does not inform the Heckmans.
• March 2014 — The Heckmans apply to Nationstar for a refinance to lower their mortgage interest rate and their monthly payment. Nationstar denies it because the Heckmans lack flood insurance. They discover that’s because Nationstar had stopped paying the flood insurance premiums in 2012; and that’s the reason Nationstar sent them a $1,000 check and then reduced their monthly payment.
• November 2014 — Nationstar raises the Heckmans’ monthly payment to $1,855 to account for a new flood insurance policy. The Heckmans consult a lawyer, and in looking into that, he discovers their house had been sold at a foreclosure auction in 2008. He advises them to cease all payments.
• January-February 2015 — Nationstar declares the Heckmans are in default on the mortgage.
• March 2015 — Attorney Jonathan Rogers files a lawsuit alleging fraud and breach of contract against Suntrust, Nationstar, Professional Foreclosure Corp. of Virginia and seeking the return of the house from Fannie Mae.

Read on.

Ocwen Fails Loan Mod Compliance Test in Mortgage Settlement

Ocwen Financial failed a test to determine whether it had notified borrowers of missing or incomplete documents for loan modifications in a timely manner, according to the national mortgage settlement monitor.

Joseph A. Smith Jr., the settlement monitor, plans to file a report Thursday with the U.S. District Court for the District of Columbia outlining corrective actions taken by Ocwen, which passed eight other tests.

Ocwen reported preliminary first-quarter earnings last week in which it said it does not expect to face any fines or actions from regulators that would have a material impact on its results.

Read on.

ISS, Glass Lewis Recommend Vote Against Deutsche Bank Management

FRANKFURT— Deutsche Bank AG’s management faces mounting opposition to a new restructuring plan ahead of the German lender’s annual general meeting later this month, with the two biggest shareholder advisory firms recommending investors not back co-chief executives Anshu Jain and Jürgen Fitschen and their fellow executive board members due to costly litigation issues.

Institutional Shareholder Services Inc., in a note to clients, urged them to vote against approving the actions of the German lender’s management, while Glass, Lewis & Co. recommended abstaining from voting on the actions of the management and the supervisory board.

Read on.

Bad theory, Bad Practice – Bad Ethics

NO LONGER ACTIVE: Better Nature: books and commentary by Geoff Davies

[ The three earlier posts “How free-market fundamentalists are hopelessly wrong” are extracted from a paper that is now published by the World Economics Association in an on-line conference on Economics in Society, the Ethical Dimension.  The full text of the paper follows, covering more deficiencies of the mainstream and some new modelling illustrating a more useful approach.   A pdf can be downloaded here (300 kb) ]

A profession that claims to understand economies, and that has gained power over the greater part of our societies, has big responsibilities.  The fundamental responsibility is to ensure its perception of economies gives some useful guidance to the behaviour of real economies.  Here mainstream economics fails utterly, and has been failing for a long time.  Worse, it actively resists alternative views that might overcome its failings.  Ethics do not come much worse than that.

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