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, […]
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 […]
Arizonans, tune in to Channel 15 news at 10 for Dave Biscobing and Mark LaMet’s part 2 of the series on foreclosures. I’ll post the link afterwards, if you miss it. Here’s the link: http://www.abc15.com/dpp/news/local_news/investigations/arizona-homeowners-losing-their-homes-to-foreclosure-through-forged-documents#ixzz2WquNg0KK
We have sued BoA over this same type of modification fraud. I can’t tell you how many people have walked into my office with stories of Kafka-esque behavior by BoA relating to their Trial Payment Plan, or their modification review. I’ve had schoolteachers clutching binders full of meticulously documented efforts to simply be reviewed for […]
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 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 […]
Here’s a great analysis by Housekeeping Report on Brandrup v. ReconTrust Company, N.A. Again, Arizonans should note that our statute has the same definition of beneficiary as the Oregon statute discussed in Brandrup.