Conspiracy of One? The Scapegoat

This is a good article on Salon by David Dayen about the scapegoating of a single DocX (LPS) employee who is claimed to be solely responsible for the perjury and document fabrication that exploded in the foreclosure crisis.  Uh huh.  That is one talented scammer. Chris Koster, the attorney general of Missouri, indicted Brown, DocX […]

Foreclosure Crisis Still in Full Play

Good article on CounterPunch called There’s Still a Foreclosure Crisis. . . excerpt below, full article at the link: “… if lenders turn their REO release valve to full blast, the deluge of foreclosures cascading onto the market could plunge the country into a recession, said Thomas Martin, president of consumer advocacy group Americas Watchdog. […]

Senator Elizabeth Warren On the Beat

It is quite a beautiful thing to have a long-time consumer law expert and scholar on the Senate Banking Committee.  HuffPo has the dirt from today’s hearing, with an excerpt here: At her first Banking, Housing and Urban Affairs Committee hearing, Warren questioned top regulators from the alphabet soup that is the nation’s financial regulatory structure: the […]

Consumer Financial Protection Bureau (CFPB) Director Cordray Testifies to Senate Banking Committee Today

The Senate Banking Committee has announced that it will hold a hearing on February 14 on “Wall Street Reform: Oversight of Financial Stability and Consumer and Investor Protections.” CFPB Director Cordray is among the scheduled witnesses.  The hearing will be Mr. Cordray’s first appearance before Congress since the D.C. Circuit’s decision in Canning v. NLRB.  Other scheduled witnesses […]

CFPB Issues Bulletin on Mortgage Servicing Transfers

The Consumer Financial Protection Bureau released a new bulletin yesterday regarding mortgage servicing transfers: The Consumer Financial Protection Bureau (CFPB) is issuing this guidance to residential mortgage servicers and subservicers (collectively, servicers), to address potential risks to consumers that may arise in connection with transfers of servicing. The CFPB’s concern in this area is heightened […]