Tag Archives: SCRA

Jeff Sessions’ DOJ Backed a Mortgage Corporation Over a Veteran

Happy Memorial Day….

Esquire:

From OregonLive:

The Marine Corps called him back to Iraq and Afghanistan for three more tours. He was in Fallujah in Iraq’s “bloody triangle” during the surge. In all, he spent about four years in the Middle East. In between deployments, McGreevey would return to Vancouver, where he managed to buy a house on Northeast 24th Court. But the years overseas took a toll. He says he made a fateful mistake: trusting someone else to make the mortgage payment. He returned from his third tour in June 2010, just in time to watch PHH Mortgage repossess his house. Knowing next to nothing about the consumer protections afforded him as a member of the military, McGreevey didn’t contest it. The foreclosure became final on Sept. 10. McGreevey’s final deployment ended in 2012. He had advanced from private to staff sergeant. Though diagnosed 80 percent disabled with post-traumatic stress syndrome, hearing loss and a back injury, he set about reinventing himself for civilian life. He earned a business degree from Portland State University and got a job at a bank.

So, yes, PHH foreclosed on a veteran while he was on his third tour in the Middle East. Happy Memorial Day Weekend. Luckily, there is something called the Servicemembers Civil Relief Act that is supposed to protect members of the military serving overseas from having done to them exactly what PHH did to Jacob McGreevey. He got legal help and took PHH to court. Then, something happened.

What neither McGreevey nor Riddell anticipated was that PHH Mortgage wasn’t going to be their only adversary. Five months after the U.S. Department of Justice announced a major initiative to crack down on financial institutions taking advantage of active-duty service members, the agency intervened in McGreevey’s case. But it didn’t come in on the side of the Marine.It went with the lender.

The United States Department of Justice—Jefferson Beauregard Sessions III, proprietor—has intervened on the side of a corrupt corporation and against a serviceman done dirt by that corrupt corporation. It already has filed a brief on behalf of PHH in the federal lawsuit against the CPFB.

Wells Fargo fined $4 mln for illegally repossessing servicemembers’ cars

Another example why the banksters will never be trustworthy. to the public…

Marketwatch:

Wells Fargo Bank WFC, -2.07% will pay $4.1 million to settle allegations that it illegally repossessed 413 vehicles owned by servicemembers without obtaining a court order, the Justice Department said Thursday. The settlement, which covers repossessions from Jan. 1, 2008 to July 1, 2015, requires the bank to pay $10,000 to each of the affected persons. Wells Fargo also agreed to change its policies as part of the agreement. The Justice Department launched its investigation into the bank’s practices following a complaint on behalf of Army National Guardsman Dennis Singleton, whose car was repossessed as he was preparing to deploy to Afghanistan. After the bank sold the vehicle at a public auction, it also attempted to collect $10,000 from Singleton. Wells Fargo’s latest legal trouble comes amid revelations of widespread illegal sales practices.

FRAUDCLOSURE: STILL TOO BIG TO JAIL, WHEN OUR MILITARY THEY FAIL?

“Our nation owes a debt to its fallen heroes that we can never fully repay, but we can honor their sacrifice.”
~
Barack Obama

And honoring the vets does not mean taking their homes illegally!!!

4closurefraud.org:

On or about March 13, 2009, Mr. Julian Garvin, a client of The Law Offices of Evan M. Rosen, was called to active duty by the United States Army for one year, to begin on March 22, 2009. On March 26, 2009, he informed his mortgage servicer, JPMorgan Chase Bank, N.A., that he had been called to serve our country. Mr. Garvin provided a copy of his deployment order and asked them to reduce his interest rate, as required byfederal law. No such adjustments were made. While on active duty, and for 11 months after his return, Mr. Garvin continued to make his full monthly payments. Then, at the peak of the crisis, he was unable to continue to pay.

On November 14, 2012, ALS-RVC, LLC, the entity claiming the right to foreclose, filed suit. The case went to trial and was involuntary dismissed, in part, because of ALS-RVC’s failure to adjust the interest rate as required by the Servicemember Civil Relief Act (SCRA). 50 U.S.C.A §3937.  In other words, ALS-RVC lost the case.

ALS-RVC then appeals.

In their Initial brief they concede the SCRA “applies to this situation, and [Mr. Garvin’s] loan paymentsshould have been credited with a reduced interest rate during his active duty…” They also concedethat “Subsection (e) of 527 is entitled ‘Penalty’ and reads, ‘Whoever knowingly violates subsection (a) shall be fined as provided in title 18, United States Code, imprisoned for not more than one year, or both.’ 50 U.S.C.A § 3937(e).” Yet, rather than trying to make amends for their admitted, jailable offense committed against a member of the United States Army, the bank and their lawyers appeal.

In the 80s, we were introduced to the phrase “trickle down economics.” From what we see in this and so many other foreclosure cases, the only thing trickling down from Wall Street is fraud, greed, arrogance and acomplete disregard for the rule of law.

We will continue to keep readers updated on this situation while we do our best to keep this United States Veteran in his home.

The answer brief to ALS-RVC’s appeal can be read here: 2016-03-30 – Answer Brief

Vancouver Veteran Files Suit Over 2010 Home Foreclosure

A U.S. Marine Corps veteran who faced foreclosure on his Vancouver home while serving in Iraq has filed a lawsuit against the home’s lender, saying that the company violated a federal law that provides mortgage relief for active-duty military members.

In the federal lawsuit, Vancouver resident Jacob McGreevey is seeking $500,000 or an amount determined at trial from PHH Mortgage Corp. of New Jersey. That company, with HSBC Bank USA as trustee, foreclosed on McGreevey’s Hazel Dell home in September 2010, shortly after the Marine returned from active duty in Iraq.

According to the lawsuit, PHH Mortgage launched its foreclosure action against McGreevey in May 2010, after McGreevey had been called up from the Marines Reserve to active duty. The lender ignored McGreevey’s request upon his return to Vancouver two months later to attempt to refinance the home, instead posting a series of foreclosure notices on his garage door before foreclosing on the home.

The lawsuit alleges that PHH Mortgage violated the Servicemembers Civil Relief Act, by initiating foreclosure proceedings after McGreevey had been called to active duty without taking steps required by the act to reduce foreclosure risk.

Read more at The Columbian.

Senate Votes to Extend Foreclosure Safeguard for Servicemembers

The U.S. Senate on Thursday night voted unanimously to pass legislation extending a provision of the Servicemembers Civil Relief Act (SCRA) that protects active duty servicemembers from losing their homes.

The bill, introduced by Sen. Sheldon Whitehouse (D-Rhode Island), extends through 2017 the provision of the SCRA that safeguards active duty servicemembers against foreclosure for one year following the completion of their service in the field as they transition to civilian life.

“Some of the men and women who’ve served our country need time to find their financial footing as they leave active service. They should get it,” Whitehouse said. “Our servicemembers keep us safe from all manner of threats around the globe. It’s the least we can do to keep them and their families safe from foreclosure as they transition back to civilian life. I’ll keep fighting to make these protections permanent, but I’m pleased we’ve reached a unanimous, bipartisan agreement on a two-year extension.”

Read on.

Service Members’ Compensation for Unlawful Foreclosures Under the Servicemembers Civil Relief Act Rises to $311 Million

Department of Justice
Office of Public Affairs

FOR IMMEDIATE RELEASE
Wednesday, September 30, 2015

Service Members’ Compensation for Unlawful Foreclosures Under the Servicemembers Civil Relief Act Rises to $311 Million

The Justice Department announced today that an additional 1,461 service members and their co-borrowers are eligible to receive over $186 million for home foreclosures under the department’s settlements with five of the nation’s largest mortgage servicers.  Those settlements implement the protections of the Servicemembers Civil Relief Act (SCRA).  Together with other foreclosure-related compensation announced by the department in February, a total of 2,413 service members and their co-borrowers are eligible to receive over $311 million.  The five mortgage servicers are JP Morgan Chase Bank N.A. (JP Morgan Chase); Wells Fargo Bank N.A. and Wells Fargo & Co. (Wells Fargo); Citi Residential Lending Inc., Citibank, NA and CitiMortgage Inc. (Citi); GMAC Mortgage LLC, Ally Financial Inc. and Residential Capital LLC (GMAC Mortgage); and Bank of America N.A., Countrywide Home Loans Inc., Countrywide Financial Corp., Countrywide Home Loans Servicing L.P. and BAC Home Loans Servicing L.P. (Bank of America).

The compensation results from the SCRA portion of the 2012 settlement known as the National Mortgage Settlement (NMS) and an earlier settlement with Bank of America, for foreclosures that took place between Jan. 1, 2006, and Apr. 4, 2012, where the servicer obtained a foreclosure without a judicial proceeding or where the servicer obtained a default foreclosure judgment without filing a proper affidavit with the court stating that the service member was in military service.

Read on.

Banks Flout Laws Protecting Troops From Foreclosure

Newser:

(NEWSER) – Deployed service members are supposed to be protected by federal laws from repossession and foreclosure. But thanks to mandatory arbitration—a clause in a contract’s small print that waives one’s right to court intervention—lenders are circumventing the rules, placing the homes and cars of US troops in jeopardy, the New York Times reports. And while banks argue it’s a more cost-efficient way to take care of problems and stave off frivolous lawsuits, military members say it violates theServicemembers Civil Relief Act, designed to protect troops from the repo man and foreclosure when they’re overseas. Arbitration often favors the lenders.

A bipartisan bill was on the table last year to help military members escape the arbitration black hole, but it was met by resistance from the US Chamber of Commerce and SIFMA, a group made up of lenders who often tout their support of the military, the Times notes. “While we remain very supportive of the troops, we see no empirical or other evidence that service members are being harmed by or require relief from arbitration clauses,” a SIFMA counsel member said in a statement. Charles Beard, a service member whose car repossession was documented in theTimes article, probably disagrees: While he was in Iraq, repo men went to his California home and took his car keys from his wife—without a court order.