WEEKEND EDITION, APRIL 15 APRIL 19, 2013

MONDAY, APRIL 15, 2013

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

Fed Argues that Mortgage Abuses are Trade Secrets, Meaning Institutionalized Fraud By way of background: Warren and Cummings have been asking the OCC and Fed for some time for more information about what happened in the foreclosure reviews. Out of fourteen information requests they made in a January letter, they got only one question answered in full, and mere partial responses to three other questions. They requested, and got, a meeting yesterday. They issued a letter Wednesday that described what transpired.

Eminent Domain: Lawyers debate Brocktons foreclosure strategy A Boston lawyer hired to fight the citys idea of seizing mortgages to prevent foreclosures told a working group studying the idea to expect a battle. Theyre going to litigate this until theyre blue in the face, said lawyer James Masterman of Greenberg Traurig LLP..

Mortgages Future Looks Too Much Like the Past IN a perfect world, policy makers, legislators and concerned Americans would have spent the last few years conducting an honest dialogue about two important issues: how to resolve Fannie Mae and Freddie Mac, the governmentowned mortgage finance giants. . Lengthy foreclosure timelines carry hidden costs for homebuyers In non-judicial foreclosure states, the average foreclosure timeline rose from seven months to 24 months in the past decade. And in judicial states, timelines increased to 35 months on average, the Irvine, Calif.-based research firm concluded in its These longer March MarketPulse report. foreclosure timelines come with a hidden.

Spread Besting BEFORE they became a magnet for losses and lawsuits, mortgages were moneyspinners for Americas banks. They are again. The Federal Reserves campaign to push down interest rates has fuelled a wave of home-buying and loan refinancing. And to the frustration of the Fed, those lower rates are not being fully passed on to customers by the banks.

Canada CMHC seeking to hide foreclosure information from home buyers Canada Mortgage and Housing Corp. has been asking realtors for months to keep consumers in the dark about whether the properties it sells are part of a foreclosure, according to a document obtained by The Financial Post. The move, said to be part of CMHC national policy, upset Quebec realtors who refused to play ball.

Firm Predicts Job Relocation Surge from Former Underwater Borrowers As home prices improve, more homeowners have been lifted out of negative equity, and thus more free to sell their properties and relocate. According to a recent report from Zillow, 1.9 million homeowners were freed from negative equity in all of 2012. One factor that has kept unemployment rates high has been the inability of underwater.

Foreclosed 'Zombie' Homes Exceed 300,000 Properties: Study A national survey found 301,874 "zombie" properties dotting the U.S. landscape in which homeowners in foreclosure have moved out, leaving vacant property susceptible to vandalism and degradation. Florida tops the list of zombie properties with 90,556 vacant homes in foreclosure, according to a foreclosure inventory released on Thursday by RealtyTrac, a real estate information company in Irvine, California. Illinois and California ranked a distant second and third with 31,668 and 28,821 zombie properties respectively on the list.

To Clean Up Foreclosure Mess, Banks Rely On Little-Known Industry Plagued By Fraud, Abuse >>>> Firm Grip on Foreclosure Inventory Continues in Judicial States>>>> More can afford a home, but lenders remain tight-fisted>>>> Housing heats up, but far from normal>>>> When does the bank own the property?>>>>

US Senate Banking Committee Hearing, April 11, 2013, Illegal Foreclosures, Senator Elizabeth Warren, Introduction and Q&A>>>> Ensuring Accountability and Transparency In Foreclosure Reviews, Part II - US Senate Banking Committee Hearing Wednesday, April 17, 2013 - 10:00 AM - 12:00 PM ET More Information >>>> For Most Homeowners, Govt Foreclosure Deal Brings A Few Hundred Bucks>>>>

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WEEKEND EDITION, APRIL 15 APRIL 19, 2013

TUESDAY, APRIL 16, 2013

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

OCC Releases Embarrassing List of Foreclosure Review Payouts on Eve of Senate Hearings The numbers here beggar belief. They are seriously trying to claim only 8 people who submitted letters were foreclosed on who had made all their payments on time? Im going to check with my Tampa Bay whistleblowers on this one, and I am highly confident that my seven sources (out of 900 temps employed at that site) saw more examples than that. An even more obvious howler is claiming that only 239 people werent converted to permanent mods after completing three payments under a trial mod.

Washington law firm sues bank regulator over foreclosure reviews A top Washington law firm is suing regulators to hand over information about how it selected consulting firms to participate in a multibilliondollar review of banks' past foreclosures. The reviews, mandated by regulators in 2011 after

100 Stories Of What Wall St Broke Have a story to tell? Tell it here. Your name as it appears on the submission form will be included with your story. You agree that your story will be shared and promoted in support of the three demands listed above. Click here to tell your story. Freddie Mac: Dont Evict Retirees Earl and.

Illinois boosting mortgage help for hardesthit borrowers Illinois is increasing by 40 percent the maximum amount of mortgage assistance available under the state's federally funded hardest-hit program, but consumers will have to act fast to receive the funds. The Illinois Housing Development Authority on Friday approved raising to....

York County foreclosures, sheriff's sales spike Statistics show foreclosures and sheriff's sales are rising in York County. The numbers aren't as high as they were during the height of the recession, but they're higher than many of the counts logged during the last two years. "And we don't know why," said Prothonotary Pam Lee. After decreasing to 74 in October and remaining.

Promissory note versus land installment contract Q: Is a promissory note better than a land installment contract? A: A land installment contract is a procedure whereby the property owner enters into a contract with a potential buyer. The buyer agrees, for example, to pay $100,000 for the property, but since he can't afford it (and can't.

Foreclosure offerings in Nevada are hardly a steal, report finds Buying a distressed home in Nevada was no bargain last year. The average sales price of a home in some stage of foreclosure such as having a notice of default or being bank-owned was $126,521 in 2012, almost 6 percent higher than in 2011, according to a new report from RealtyTrac. Also, the states average.

Is the mortgage industry organized crime? Foreclosure defense attorneys are becoming increasingly frustrated by the dismal foreclosure statistics and are seeking help from our nations criminal prosecutors to investigate the possibility of bringing foreclosure mills and banks to justice under the Racketeer Influenced and Corrupt Organizations Act (RICO). Usually, when we hear terms like organized crime and RICO, we think of Tony Soprano and John Gotti. However, when the mortgage industry conspires to defraud middle class America.

One year after mortgage settlement, frustrations linger for troubled borrowers>>>> With Legal Reserves Low, Bank of America Faces a Big Lawsuit>>>> Minneapolis woman moves into vacant, foreclosed home>>>> Wells Fargo Typo Victim Dies in Court>>>> Final rules issued by the CFPB 2013>>>>

US Senate Banking Committee Hearing, April 11, 2013, Illegal Foreclosures, Senator Elizabeth Warren, Introduction and Q&A>>>> Ensuring Accountability and Transparency In Foreclosure Reviews, Part II - US Senate Banking Committee Hearing Wednesday, April 17, 2013 - 10:00 AM - 12:00 PM ET More Information >>>> For Most Homeowners, Govt Foreclosure Deal Brings A Few Hundred Bucks>>>>

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WEEKEND EDITION, APRIL 15 APRIL 19, 2013

WEDNESDAY, APRIL 17, 2013

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

Federal Grand Jury Indicts Former Fannie Mae Employee for Allegedly Taking Kickbacks Granillo, who worked in the Irvine Fannie Mae office as a Real Estate Owned Foreclosure Specialist, reviewed applications submitted by real estate brokers who wanted to list Fannie Mae foreclosure properties. Granillo had the authority to approve sale offers presented by the brokers. In late 2012, Granillo asked a real estate broker in Tucson to pay a percentage of the commissions the broker earned for selling Fannie Mae foreclosure properties..

FDIC begins to reveal settlements related to financial crisis The Federal Deposit Insurance Corp. has begun posting online more than 200 previously undisclosed settlements related to bank failures that accompanied the financial crisis.

Banks responsible for foreclosure problems Proposed legislation House Bill 87 and Senate Bill 1666 which backers claim will clear the backlog of foreclosure cases in Florida, instead will create more problems by putting speed ahead of justice. The backlog is blamed on foot.

Customers Say La Renaissance Deposits After Foreclosure Order

Took

With the start of the 77th Regular Session of the Nevada Legislature... With the start of the 77th Regular Session of the Nevada Legislature on February 4, 2013, one of the topics potentially up for discussion is Assembly Bill 284 (AB 284). While not necessarily the most pressing issue facing the state legislature this session, the topic has gained.

The doors to La Renaissance were locked last week amid reports that the popular East Windsor banquet facility that has played host to myriad proms, graduation ceremonies and wedding receptions throughout the years is subject to a court-ordered foreclosure sale in April..

When a Veteran is in need, just say yes. Disabled female veteran plea to keep her home. As most of us in Nevada are, in spite of the fact I put 20% downand have never refinanced I am underwater onmy Reno home and am in danger of foreclosure. I have applied several times these last 3 years to get a Loan Modificationfrom Scrooge, with no success.

N.J. homeowners facing foreclosure lose free advice as money for counselors runs out New Jersey homeowners facing foreclosure who are meeting their mortgage company at the mediation table will need to pay for legal advice after funding from a state program for free counselors runs out today. The prospect left homeowners fearing that their chances of working out an agreement with their lenders.

Investors Pile Into Housing, This Time as Landlords Jeff Pintar had buyer's remorse as he purchased 12 foreclosed homes in five Southern California counties on a single day. His regret: that he didn't buy more homes a year earlier. "Things have turned around faster than anyone anticipated," said Mr. Pintar, who first began buying properties here four years ago and now owns or manages 1,700 homes, which he rents out for between $1,000 and $3,800 a month.

Foreclosure crew clears wrong Texas building>>>> Businessman facing home foreclosure commits suicide>>>> Lenders Credit Bid of Entire Debt at Foreclosure Sale Results in Forfeiture of Rights to Additional Collateral>>>> Unbalanced foreclosure bill>>>> Final rules issued by the CFPB 2013>>>>

US Senate Banking Committee Hearing, April 11, 2013, Illegal Foreclosures, Senator Elizabeth Warren, Introduction and Q&A>>>> Ensuring Accountability and Transparency In Foreclosure Reviews, Part II - US Senate Banking Committee Hearing Wednesday, April 17, 2013 - 10:00 AM - 12:00 PM ET More Information >>>> For Most Homeowners, Govt Foreclosure Deal Brings A Few Hundred Bucks>>>>

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WEEKEND EDITION, APRIL 15 APRIL 19, 2013

THURSDAY, APRIL 18, 2013

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

Mortgage Relief Checks Go Out, Only to Bounce Now imagine hearing those two words when trying to cash a long-awaited check from the same bank that foreclosed on you. Many struggling homeowners got exactly that this week when they lined up to take their cut of a $3.6 billion settlement with the nations largest banks lenders accused of wrongful evictions and other abuses.

The Fed messed with the wrong senator I have spent the better part of four years trying, with little success, to raise awareness about foreclosure fraud, the largest consumer fraud in the history of the United States. In fact, theres a whole little band of us writers and activists and foreclosure fighters. We have provided multitudes of evidence about fake documents, forged documents, illegal foreclosures. Sandy Victims Face Relocating, Repairs and Now ... Foreclosure Laurie and Christopher Nunziato bought two small homes next to each other in the Midland Beach section of Staten Island in 2005. They lived in one house and rented out the other. The family hadn't planned on evacuating for Sandy until they saw water flowing into their neighborhood from the beach.

4/17 Hearing Raises Foreclosure Settlement Concerns In her written testimony, Goldberg says that unlike the national mortgage settlement (NMS), the foreclosure settlement that replaced the Independent Foreclosure Review bases the amount of credit the servicer receives on the unpaid balance of the loan, rather than the amount of assistance provided to the borrower... Saving on Title Insurance Borrowers dont often pay much attention to the title insurance required by their mortgage lender until they see the sizable charge for it on their list of closing costs. Ostensibly, that premium (and sometimes assorted fees) reflects the cost of guaranteeing the borrower clear ownership of a property. Title agents search public records for tax liens and any other outstanding claims that.

SIGTARP reminds Treasury of TARP fury This reminder report, the first time not given enough attention by journalists, is titled 'Treasury Continues Approving Excessive Pay for Top Executives at Bailed-Out Companies'. In short, SIGTARP is fed up with inflated executive pay going to financial firms that benefitted from the bailout.

Secret Creditor Reports, Overdraft Fees and the New Unbanked: The Perfect Storm Did you know you have another type of credit report, something just as powerful as a traditional credit report? Your other credit report is an account screening report used by financial institutions to assess risk in their account

Protestor Who Disrupted DeMarco Hearing, In His Own Words You've probably heard that several underwater homeowners were arrested for disrupting Tuesday's House Financial Services Committee hearing at which acting director Edward DeMarco was the sole witness. (You can see the video here if you haven't.) I got the chance to speak on camera with the first protestor to speak, Ramn Suero, as he waited in the hall to enter the hearing.

Borrowers who lost homes to foreclosure during the housing bust are starting to buy again>>>> Genworth Advances in Wager on U.S. Housing-Market Rebound>>>> Real-estate scams are a big boomer complaint>>>> The Cost of Recovery: FSBOs are BAAAACK>>>>

Isaiah, a coalition of congregations, reminds us foreclosure crisis is not over>>>> Mortgage Dailys Fourth Quarter 2012 Litigation Index>>>> Former Fannie Mae Sales Associate Charged with Taking Kickbacks>>>> US Senate Banking Committee Hearing, April 11, 2013, Illegal Foreclosures, Senator Elizabeth Warren, Introduction and Q&A>>>>

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WEEKEND EDITION, APRIL 15 APRIL 19, 2013

FRIDAY, APRIL 19, 2013

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

Elizabeth Warren: Banks Determined the Number of Victims of Their Own Foreclosure Frauds? Senator Warren: I just want to take a look at the Independent Foreclosure Review Payment Agreement details. I think youve probably all seen this one page agreement that lists all of the things that the banks did wrong and then boxes for how many people fall into each category and how much money theyre going to be paid. Is that right? Youve all seen this? [Panel indicates they have seen it.]

Nelson wants probe into Florida's foreclosure aid program U.S. Sen. Bill Nelson, D-Fla., is calling for an investigation into how Florida administers $1 billion in federal money meant for struggling homeowners.

Bankers tweak proposed REO-rental ABS structures Securitization bankers and lawyers are embedding various structural bells and whistles onto proposed REO-to-rental securitization structures to comfort rating agencies concerned.

Jamie Dimon Agrees With Occupy Wall Street: 'Too Much Inequality' According to Chris Otts of The Courier-Journal, Dimon told his audience that the United States has "too much inequality." This isn't a novel insight -- the Occupy Wall Street protests were predicated on this idea.

Residential Lenders in Nevada Losing Out in HOA Lien Foreclosures In recent months, homeowners associations (HOAs) in Nevada have been foreclosing on their liens for delinquent assessments. HOAs are a part of everyday life for homeowners and lenders in Nevada, but the recent trend of HOA.

Petitioning Brian Moynihan: BofA Offer a disabled vet and his family an opportunity to stay in their home My husband, William, was diagnosed with end stage kidney disease in 2010. He lost his job and health care coverage shortly afterwards. Facing increased health costs and lower income, we fell behind in our mortgage payments.

Low equity drives down the inventory of U.S. homes for sale Home sales around the country are on the rise. But finding a house to buy could be a big problem. The inventory of homes listed for sale is at the lowest point in more than a decade. So why aren't more properties coming on the market? Housing economist Mark Fleming thinks it's because.

Auburn woman to receive settlement in foreclosure mess Marie Treat received a postcard from the Independent Foreclosure Review notifying her that she will be part of a huge settlement between the Federal Reserve and 13 banks and mortgage service providers. Under the agreement, the lending institutions have agreed to pay out $9.3 billion to people who were affected by errors in the foreclosure process. The checks will range from hundreds of dollars to as much as $125,000. Marie Treat says, "That notification is my validation.

State housing authority to announce foreclosure assistance program>>>> OIG aims to limit GSEs interest-rate risks>>>> Federal Government Signs Secret Settlements With Banks>>>> CFPB: Richard Cordray jumps back into the ring>>>>

Isaiah, a coalition of congregations, reminds us foreclosure crisis is not over>>>> Mortgage Dailys Fourth Quarter 2012 Litigation Index>>>> Former Fannie Mae Sales Associate Charged with Taking Kickbacks>>>> US Senate Banking Committee Hearing, April 11, 2013, Illegal Foreclosures, Senator Elizabeth Warren, Introduction and Q&A>>>>

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