On Tuesday November 17, 2015 the Dutchess County clerk released and posted an order by the Honorable Judge James V. Brands, wherein the Judge turned back the hands of time and Ordered a Traverse Hearing to determine the validity of the service of process, in aforeclosure case where the property had already been scheduled for a public auction on the steps of the Dutchess County Courthouse. The decision is available HERE.
In an interview with Mr. McCaffrey on Tuesday November 17, 2015, he explained the history of the case and background. “This client almost lost his house” said McCaffrey, and “the bank here, hired Steven J. Baum to commence their foreclosure and he in turn hired a process server who resorted to sewer service… Steven Baum is well-known for foreclosure abusesand the disgusting practices of his band of cohorts”.
This order was the culmination of months of litigation work by attorney Brian McCaffrey’s firm on behalf of homeowner Gildardo Diez of Poughkeepsie, NY. In August of 2015 the lender scheduled a foreclosure sale of the Diez home. That’s when Diez contacted Mr. McCaffrey. Mr. McCaffrey’s firm worked feverishly to pull together the history and facts of the case and review the prior documents submitted in the case.
The U.S. government is increasingly using bank reports on suspicious transactions to identify Islamic State targets and other terrorist facilities, including determining which refineries to hit with airstrikes, a senior U.S. official said Tuesday.
Information that banks must report to the Treasury Department on suspicious transfers, deposits and other transactions is helping officials identify which terrorist-held oil refineries are the most productive and therefore the best targets, said Kurt Gredzinski, an official with the U.S. Special Operations Command.
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Jindal has never left the kid’s table Presidental debate since the beginning.. Jindal is the third person voted off the island…
As Politico reports, Jindal is the third Republican to suspend his campaign, after former Texas Gov. Rick Perry and Wisconsin Gov. Scott Walker dropped out earlier this year.
Here are some screenshots from the interactive map presented by The Times which should tell you all you need to know about social/ income mobility and Baltimore:
In this context, we present a few excerpts from a New York Times piece out Monday which takes a look at a new study by the National Community Reinvestment Coalition who looked at mortgage lending in Baltimore.
Perhaps not surprisingly, the Coalition found that the most important determinate for loans was the racial composition of the neighborhood. Not income. Not credt. But race.
But, the coalition says its analysis shows that the racial makeup of a neighborhood — and not income, for instance — is the most significant predictor of whether a loan gets made in Baltimore.
“If lenders are not making loans in a community, the opportunities for people to work their way out of poverty is pretty slim,” said John Taylor, the coalition’s president. “In Baltimore, the prevailing factor behind who gets a mortgage is the racial composition of the neighborhood.”
The black population of Baltimore is double that of the white population. Yet in 2013, banks made more than twice as many mortgage loans to whites in the city as they did to blacks.
The stark difference in mortgage lending, derived from the most recent government mortgage data, is the focus of a new study that will be released on Tuesday by the National Community Reinvestment Coalition, a consumer advocacy group.
(CN) – Deutsche Bank’s claims that Quicken Loans misrepresented the quality of mortgage loans in 2006 are untimely, the Second Circuit ruled.
Goldman Sachs Mortgage Company bought a number of mortgage loans from Quicken Loans in 2006, which were securitized in a Deutsche Bank trust.
The agreement included a series of representations and warranties (R&Ws) about the quality of the mortgage loans, and a provision that Quicken had to repurchase the loan at a prescribed price if a breach of the R&Ws was discovered.
In 2013, Deustche Bank sued Quicken claiming that an independent audit found breaches of the R&Ws with respect to borrower income, debt-to-income ratios, and owner occupancy. It said it demanded Quicken cure or repurchase the loans but the defendant failed to do so.
In court, Quicken said the breach of contract was time-barred, and a federal judge agreed.
The Second Circuit affirmed the ruling Monday.
Michigan lender accused of asking for doctor’s note
The Department of Housing and Urban Developmentannounced Tuesday that it reached a settlement with a Michigan-based lender over discriminating against a borrower with disabilities.
According to HUD, Mortgage One, based in Sterling Heights, allegedly delayed a man’s loan application because of his disabilities.
Specifically, the man alleged that before closing on the loan, Mortgage One requested that he provide verification from his doctor that his disability is permanent and/or a letter from the Social Security Administration stating that he would remain on disability for at least three years.
According to HUD, Mortgage One and loan officer Nancy Doody required the mortgage applicant to provide intrusive and unnecessary documentation regarding his disabilities before approving his FHA-insured mortgage, a violation of the Fair Housing Act.