Saturday 11th February
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If Your See This in Your Mailbox, Don’t Throw It Away
Written on 7 Dec, 2011 at 22:06
The OCC’s Independent Foreclosure Review program has started sending out the program’s Review Forms, which are required to begin the process. A reader sent me this photo of what the form looks like when it comes in the mail, so now you’ll... (Continue reading)
Ex-Asst. Treasury Secretary Herb Allison Back at Beautiful Connecticut Home
Written on 18 Mar, 2011 at 12:04
See, because in the old days public servants, those that worked for the government, seemed to make less money than Phil Donahue or Marlo Thomas. They didn't used to have 7,379-sq.ft. 1911 wood and stucco $25 million Greens... (Continue reading)
I’m So Happy that I Ignored the whole AGs-Investigate-the-Servicers Thing
Written on 9 Mar, 2011 at 11:28
Well, what they’re calling the Attorneys General “Term Sheet” is out and to kick it all off, I went with an analysis of the AG’s work product written by Joshua Rosner, who is Managing Director at independent research consultancy Graham... (Continue reading)
Mandelman’s Monthly Museletter… Version 10.0
Written on 3 Feb, 2011 at 6:25
1. California’s ex-AG, Governor Jerry Brown Settles Countrywide Suit for $6.5 million. 2. Mandelman ADMITS HE WAS WRONG About AZ’s Foreclosure Program’s Potential. 3. Wall Street Journal: $135 Billion for Bankers in 2010… Breaks Previous Record Set in 2009.... (Continue reading)
INSIDE CHASE and the Perfect Foreclosure
Written on 11 Sep, 2010 at 7:44
“And we documented what went on with each file so that if the investor came in to audit the files, everything would be accurate in terms of what had transpired and in what time frame. It was all about... (Continue reading)
It’s a Matter of Principal – HAMP’s New PRA
Written on 6 Aug, 2010 at 7:31
And NPV 4.0 is what drives the PRA, which is a “deferred principal reduction program” that allows the homeowner to earn a principal reduction over a three-year timeframe by making all payments in accordance with the loan’s modified terms. According... (Continue reading)
GM, GMAC & the US Government… Have You No Shame?
Written on 3 Aug, 2010 at 12:23
The workers at the NUMMI plant were quite familiar with GMAC, because the mortgage lender was the only mortgage lender given access to the plant employees to sell them on refinancing their homes. "Put your cars, your credit cards... everything... (Continue reading)
I Think It’s Now Safe for Me to Speak Out About Loan Modifications and the Secret NPV
Written on 24 Jul, 2010 at 9:51
I’ve been waiting for this day for almost a year. The day I could stop beating around the bush and come right out and talk about the “secret” NPV and loan modifications. Because I’ve known about the “secret”... (Continue reading)
Have a “Plunder Party” and Help Change Our World
Written on 8 Jul, 2010 at 13:15
PLUNDER - The Crime of Our Time, is a movie produced and directed by Danny Schechter, that shows what Wall Street did to destroy our economy. It's the first movie that clearly shows that what's happened over the last... (Continue reading)
The FTC Needs a More Reasoned Approach to Stop Loan Mod Scams
Written on 10 May, 2010 at 11:19
Yes, I’ve walked through this steaming pile of freshness so many times and in so many ways, that I’ve come to consider the idea that there’s something in the water that’s causing otherwise intelligent people to lose their capacity for... (Continue reading)
The Question of Bankruptcy
Written on 15 Feb, 2010 at 6:43
Having now spoken with several people who have struggled with the question of filing bankruptcy, I’m just trying to offer my two cents in case it might help even one person. ... (Continue reading)
RED ALERT: Mortgage Bankers Strongly Oppose New Foreclosure Bill in California – SBX8 38
Written on 12 Feb, 2010 at 3:51
I have but one thing to say to the Mortgage Bankers Association… Kush meer in toches. You can figure that one out without a Yiddish dictionary, right?... (Continue reading)
SPOTLIGHT ON: The Law Offices of Kenneth E. Gertz
Written on 10 Feb, 2010 at 5:50
I’ve gotten to know Ken well over the last six months and I’ve had the opportunity to see how he works. First of all, Ken takes on a relatively small number of clients each month. He’s no assembly... (Continue reading)
Strategic Default is a Moral Dilemma. That’s simply adorable, don’t you think?
Written on 2 Jan, 2010 at 7:06
These days, it occurs to me, there would be even less morality involved in the decision to walk away from a mortgage. I can’t believe anyone actually feels morally obligated to a bank today. Why would anyone possibly... (Continue reading)
Why Banks Are Better at Making Loans Than Modifying Them
Written on 26 Nov, 2009 at 4:51
I thanked my new present value oriented friend and hung up. Next I would need to find a homeowner whose loan had been modified directly by the bank as a result of their request. This wasn't easy. Lots of refinancing,... (Continue reading)
First State Licensed Loan Mod Professional in the Country Goes to Work Today
Written on 6 Aug, 2009 at 11:52
When the Nevada legislature began discussing a proposed bill that threatened the very existence of the private sector loan modification firms, Mandy wasn't dissuaded for a moment. Although she had never considered a career lobbying government before, she... (Continue reading)
There’s the OUTRAGE: Riverside Man Booby-Traps Foreclosed Home
Written on 13 May, 2009 at 15:48
Here’s how the LA Times, in just a few brief paragraphs, reported the story today: “A 42-year-old Riverside man has been arrested on suspicion of setting up fake booby traps outside his foreclosed home, authorities said today. Former homeowner Daniel... (Continue reading)
