I agree with Mr. Cox about some of the unsavory tactics of the big banks and their lawyers. Having practiced at a large firm defending Fortune 500 companies in Houston, followed by plaintiff’s’ work and corporate defense at a litigation boutique, I have never seen such bullying and offensive tactics as I’ve experienced in Arizona […]
Full article here on creditslips.org: WSJ: The Tail Wags the Foreclosure Dog posted by Adam Levitin The Wall Street Journal’s economics blog had a poorly thought-through take on foreclosures. The main point of the piece was that the time from default to foreclosure has grown much, much longer. (Not noted is that the timeframe varies […]
From creditslips.org They Really Did Know the Loans Were Bad… posted by Ethan Cohen-Cole A firm which few know of – Clayton holdings—will likely soon be at the center of a wide variety of lawsuits and individual complaints. Clayton’s job was to validate the innards of mortgage backed securities (MBS) when made available for sale. […]
Right now, C-SPAN3 was supposed to be showing the Financial Stability Oversight Council Meeting with Treasury Sec’y Tim Geithner. The meeting is supposed to include an update on mortgage servicing and foreclosure issues and votes on several resolutions to advance implementation of the Dodd-Frank Act. There was supposed to be a closed session at 11 […]
From today’s front page of the Arizona Republic, full article here: States Put Heat on Mortgage Lenders by Catherine Reagor . . . During a hearing Tuesday in front of the Senate Committee on Banking, Housing and Urban Affairs, executives from JPMorgan Chase & Co. and BofA said they are working to fix problems they […]
Foreclosure Blues reports from a great Daily Bail post here: Adam Levitin Tells Congress: Citigroup, Bank Of America, JPMorgan & Wells Fargo Are All INSOLVENT » STOP! This one is important. More below – Ratigan, Black, Paulson and leverage. Video – Georgetown Law Professor Adam Levitin Start watching at 1:35, though the bomb from Levitin comes […]
From Washington’s Blog: [A] Rassmussen poll conducted in February found: 70% [of all voters] believe that the government and big business typically work together in ways that hurt consumers and investors. (and see this and this). Remember that the government helped and encouraged the giant banks to get even bigger, and then has hidden their […]
Aurora Loan Services LLC had its servicer ratings cut as a result of deteriorating performance and an uncertain future. Further downgrades could be ahead. (Nov. 19) http://www.mortgagedaily.com/
Here’s a good post on Adam Levitin’s testimony at today’s hearing on robo-signers, chain of title problems, etc. David Dayen’s full piece below: http://foreclosureblues.wordpress.com/2010/11/18/levitin-addresses-elephant-in-the-room-regulators-don%e2%80%99t-want-to-fix-the-foreclosure-crisis/ Georgetown U.’s Adam Levitin has become something of a rock star during the foreclosure fraud crisis. He had some of the best and most biting commentary in the Senate Banking Committee […]
C-SPAN3 temporarily cut away from the hearing to go to Rangel’s sanctions but the hearing is still on here. The participants (R.K. Arnold of MERS and Professor Adam Levitin have been busy this week): Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing Date: November 18, 2010 Time: 10:00AM Location: 2128 Rayburn House Office […]
