Debt Collecting and Robo-Signing From the Grave

Dead Soul is a Debt Collector Full article in WSJ here: By JESSICA SILVER-GREENBERG Martha Kunkle has come back to life. She died in 1995. Yet her signature later appeared on thousands of affidavits submitted by one of the nation’s largest debt collectors, Portfolio Recovery Associates Inc., in lawsuits filed against borrowers. Back From the […]

HAMP Lawsuit Roundup

New Missouri Class action: For the lawsuit, see Fraser v. Bank of America, N.A., et ano. (1) “Though Bank of America accepted $25 billion in TARP funds and entered into a contract obligating itself to comply with the HAMP directives and to extend loan modifications for the benefit of distressed homeowners, Bank of America has […]

Allstate Sues Countrywide Mozilo Over Toxic Residential Mortgage-Backed Securities

DECEMBER 28, 2010, 8:30 P.M. ET. Wall Street Journal reports the full story here. Allstate Sues Countrywide Over Toxic Investments BY DAVID BENOIT NEW YORK—Insurance company Allstate Corp. sued mortgage-originator Countrywide Financial Corp., now a part of Bank of America Corp., over $700 million in residential mortgage-backed securities that the insurer had invested in. The […]

Sign Petition to Stop Servicer Abuse

Go to StopServicerScams.com to sign the petition.  One would think it would go without saying that servicer abuses such as delaying and misapplying payments, using false hopes of pending mods to lure more money from consumers, and applying compounding junk fees SHOULD BE STOPPED.  The banking industry lobby doesn’t think so.  What do you think?  […]

Round Up: NJ Issues New Foreclosure Guidelines Due to “Lender” Abuses, US House Movement to Get Tougher on Servicers and Securitizers

New Jersey Notice to the Bar NJ Notice to Foreclosure Plaintiffs Questionable Practices Attached is a draft letter from Rep. Brad Miller’s office. Additionally, here are stories and blog posts on the FDIC/Fed conflict and StopServicerScams.com action. Open Letter to Bank Regulators on Mortgage Securitization and Servicing Practices http://www.nakedcapitalism.com/2010/12/open-letter-to-bank-regulators-on-mortgage-securitization-and-servicing-practices.html Agencies Clash Over How to Create […]