Deutsche Breeds Scandal After Scandal

Department of Justice proposed a 14-billion dollar fine for Deutsche’s mortgage backed securities scandal (you’re thinking, “you’re going to have to be more specific; which one?”)  Wall Street J.  Deutsche’s stocks took a tumble late yesterday and continuing today.  Before that, last week it was reported in the New Yorker that Deutsche had a newer 10 billion dollar […]

The People’s Revenge? Voting their Anger

Post-Iowa and New Hampshire, articles abound regarding populist anger.  I am particularly interested in fostering awareness of the strangling hold that a very few hold over so very many.  I would particularly like to address the way the rigged system has led us to a place where the American middle class consumer cannot obtain justice but that is […]

Wells Fargo Settlement with Department of Justice Announced for Bankrupt Homeowners Who Did Not Receive Change of Payment Notices

On Thursday, the Department of Justice released a settlement with Wells Fargo concerning Wells Fargo’s failure to send payment change notices and updated escrow statements to homeowners in bankruptcy: Settlement Terms Wells Fargo agrees to pay a total of $81.6 million to homeowners who were in bankruptcy between Dec. 1, 2011, and March 31, 2015, and who were […]

Travis County Recorder Speaks Out Against MERS and the Fifth Circuit Ruling

In Travis County,  a large Texas county with Austin (my alma mater) serving as the county seat, the County Clerk derided a recent MERS-related decision of the notoriously “conservative” (really meaning bank-oligarchy-friendly rather than some more benign definition of fiscal conservatism) U.S. Court of Appeals for the Fifth Circuit in Harris County v. MERSCorp Incorporated.   The Clerk […]

CFPB Hated By Bankers and Beloved by Consumers

The Consumer Financial Protection Bureau (CFPB) is definitely the new kid on the  block, as far as regulators go.  It has some pretty powerful enemies, including the predictable Goldman-Sachs-JPMorganChase-Citibank-BankofAmerica-Wells-Fargo of the too-big-to-fail/too-big-to-jail swagger. When the foreclosure crisis was starting, circa 2008 and 2009, causing apocalyptic shock waves in my state, Arizona, among many others, I […]

TARP Watchdog Report Calls Out Loan Servicers and Treasury for Massive HAMP Failures

The SIGTARP’s latest report to Congress issued July 29, 2015 chastises Treasury for its failure to question and punish loan servicers for their dismal HAMP numbers.  Servicers who participate in HAMP are paid incentives, and are “required to offer HAMP modifications to all eligible homeowners.” Servicers “must follow the HAMP rules” and “Treasury has an […]

Foreclosure News: OCC Will Escheat Funds Designated for Homeowners, OCC Restricts Chase, US Bank, Wells via Amended Consent Orders

The OCC issued a press release today that it plans to escheat uncashed payments from the Independent Foreclosure Review by the end of 2015.  Also, it has imposed restrictions on U.S. Bank, Chase, Wells, and others for not meeting Consent Order requirements, stating, in part: The OCC terminated orders against Bank of America, N.A.; Citibank, […]