April, 2010

The CA State Bar’s Task Force, the OC District Attorney’s Office, Storm Trooper Tactics and Loan Modifications

The CA State Bar's Task Force, the OC District Attorney’s Office, Storm Trooper Tactics and Loan Modifications

Look… I don’t know Christopher Diener, I’ve never met him, and I don’t know anyone who has hired his firm to help with a loan modification. But here’s what I do know… if he’s guilty of some crime, then... (Continue reading)

Senate Investigation Says Banks Caused Crisis, Not Borrowers

Senate Investigation Says Banks Caused Crisis, Not Borrowers

As I’ve said what feels like a million times in a million different ways… it wasn’t the borrowers, it was the banks, and what caused the crisis was that the banks broke the bond market… and it remains broken to... (Continue reading)

WaMu’s Top Gun Loan Officers Targeted Low-Income Minorities to Rob the Bank and the Nation

WaMu’s Top Gun Loan Officers Targeted Low-Income Minorities to Rob the Bank and the Nation

It would be one thing if the story of Tom Ramirez and Mario Loria at Washington Mutual’s Loan Processing Center was nothing more than the story of two rogue mortgage bankers who gamed the system and got away with millions... (Continue reading)

Obama Asks for Help from Public to Reform Housing Finance System?

Obama Asks for Help from Public to Reform Housing Finance System?

Do you suppose that next week he's going to ask if we have any thoughts on Afghanistan? Oh my God! I'm taking an Adivan. Who did he ask about health care reform? Oh my God! ... (Continue reading)

WaMu and We Don’t Lose Deals to Income!

WaMu and We Don’t Lose Deals to Income!

Tweet Those are the words that were printed on a large banner that hung above the cubicles at Ameriquest Mortgage in Sacramento, California, according to an ex-employee of the now defunct sub-prime mortgage banking lender that was shut down by... (Continue reading)

MANDELMAN’S MONTHLY MUSELETTER VERSION 7.0

MANDELMAN’S MONTHLY MUSELETTER VERSION 7.0

1. Wells Fargo - Out of frying pan into fire. 2. Nicholas Cage Looses Home to Foreclosure and No One Bids at Auction. 3.Arizona Homeowners at Meeting on Stopping the Foreclosure. 5. Two Women Sentenced for Scamming... (Continue reading)

Judge Dismisses 110 of the Felony Counts Against Southern California Attorney Accused of Loan Modification Scam

Judge Dismisses 110 of the Felony Counts Against Southern California Attorney Accused of Loan Modification Scam

You mean to say that the District Attorney prosecuting the case, who presumably had reviewed the evidence, made the decision to file the charges, had Mr. Diener arrested and then argued for a seven-figure bail amount, suggesting that he was... (Continue reading)

HAMP’s New Enhancements are Stupid and I’m Getting Tired of Stupid

HAMP’s New Enhancements are Stupid and I’m Getting Tired of Stupid

They did it again, damn it. The Harvard contingent that’s packed in like sardines in this administration once again demonstrated that they have no idea what they’re doing when it comes to the foreclosure crisis.... (Continue reading)

Books I’ve Loved Reading: Freefall by Joseph Stiglitz

Books I've Loved Reading: Freefall by Joseph Stiglitz

He points out, for example, that when you talk about a group that borrowed too much on the assumption that housing prices would never fall and sub-prime loans presented no risk, you’re talking about the Wall street crowd. Some... (Continue reading)

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The secret NPV formula used to qualify for HAMP loan modifications that no one is allowed to know. Transparency at it’s finest.

The secret NPV formula used to qualify for HAMP loan modifications that no one is allowed to know.  Transparency at it’s finest.

If your report says you don’t qualify for HAMP, then you won’t have to go down a path that requires you to make months of trial payments only to find your home in foreclosure anyway. At least you’ll know... (Continue reading)

What We All Should Have Learned by Now About Loan Modifications

What We All Should Have Learned by Now About Loan Modifications

Okay class... if you've been keeping up with your reading assignments, then the following should be no problem for you to keep up with... but it also may cause motion sickness.... (Continue reading)


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