Mortgage Servicing Problems Are Not Fixed, Despite Propaganda

Yves Smith at Naked Capitalism has another good post on the mortgage servicing failures of the last few years: It sometimes feels like a Sisyphean task to keep discussing how Americans were thrown under the bus in the various mortgage settlements reached in 2011 and 2012. The mortgage-industrial complex was deemed too big to fail and as a result, […]

Fake Documents in Arizona Foreclosures ABC 15 Dave Biscobing

By Mark Lamet and Dave Biscobing PHOENIX – Thousands of Arizona families have lost their homes to illegal foreclosures. Illegal foreclosures are based on forged, faked and phony documents. According to Arizona Attorney General Tom Horne, “There’s been a major, really major effort to clean up that situation.” But that’s not what we found. The […]

Urban—One of Bank of America’s Agents of Mod Fraud—Speaks Out

Bert Sheeks, an employee of Urban Settlement Services, did contract work for Bank of America, including HAMP modifications.  One of his tasks was to confirm whether the documents a borrower claimed to have sent appeared on Bank of America’s “I-Portal” system.  In his Declaration, filed in the In re HAMP MDL (Dkt. 210-7), he said: […]

Bank of America Lied

Bank of America Lied to Homeowners and Rewarded Foreclosures, Former Employees Say by Paul Kiel ProPublica, June 14, 2013, 5:44 p.m. Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees. The […]