Wednesday 15th January
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Report Shows Treasury Disagrees With Loan Mod Decisions at Chase, Wells & BofA – Requires Servicers to Make Changes Going Forward
Written on 27 Sep, 2010 at 23:55
Well, in the August HAMP Report, which is published monthly by Treasury, is a chart that shows that Treasury has disagreed with a higher than average number of the decisions being made by CHASE, Wells Fargo and Bank of America.... (Continue reading)
Bringing Up the Rear: Treasury Secretary Tim “Transparency” Geithner and his Band of Banking Sadists
Written on 27 Sep, 2010 at 5:49
But Treasury officials told the bloggers that they knew all along that it wouldn't work, that homeowners would be foreclosed on left and right, but, they explained, that was okay with them. In fact, it was a good thing.... (Continue reading)
The American Recovery and Reinvestment Act – Our Tax Dollars at Work
Written on 26 Sep, 2010 at 0:31
How many homes could we have saved with $111 MILLION, Wendy? How many people could we have fed... or trained to be able to get a new job one day? We're talking about $111 MILLION, damn it. ... (Continue reading)
GMAC Halts Evictions Related to Foreclosures in 23 States When News of Forged and Robo-Signed Documents Comes Out
Written on 24 Sep, 2010 at 16:50
Okay, so here's the story... some attorneys representing homeowners in foreclosure noticed that GAMC was saying things that weren't true, which is sometimes referred to as "lying," and then in a deposition it came out that a middle manager at... (Continue reading)
PROFILES IN BANKING: If Your Mortgage is With Wells Fargo, Watch Out … No Delays Ahead!
Written on 19 Sep, 2010 at 21:26
I don't know Wells Fargo... you do whatever you want, but it looks to me like you're losing friends in Congress and even in the White House. As are your pals, by the way. You can just go... (Continue reading)
Bringing Up the Rear: Senator Christopher J. Dodd
Written on 19 Sep, 2010 at 17:20
Now that Elizabeth Warren has been appointed to the post, albeit temporarily, support her with whatever support you can offer, Senator Dodd. Let the ones that oppose Elizabeth Warren stand naked in the light. And the American consumer....... (Continue reading)
President Obama… Thank You. Elizabeth Warren… Will You Marry Me?
Written on 15 Sep, 2010 at 20:53
But that was before I knew Elizabeth Warren as the TARP chief... the Harvard professor... the advocate for the middle class... the woman who was the only person in Washington D.C. who could stare down Treasury Secretary Tim "Transparency" Geithner... (Continue reading)
Obama Administration in a Scramble to Do Something Right for Housing Market
Written on 13 Sep, 2010 at 7:54
Most of the suits allege that the trial modification plans are contracts, and that Bank of America and every other servicer broke them by not granting permanent modifications to homeowners who made their trial payments on time and provided the... (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)
Short Sale Lease-Backs Make Total Sense – Fannie, Freddie and Servicers Are the Problem
Written on 8 Sep, 2010 at 17:30
So, what's not to love? Banks win by getting more for the property than would otherwise be the case. Investors win through earning a return that averages 15% on their investment. Banks win by getting more for the... (Continue reading)
Treasury Designs New Federal Program to Help Stimulate Economy
Written on 7 Sep, 2010 at 22:31
Secretary Geithner explained the program to reporters while waiting for his dessert soufflé to rise. Those in attendance said that he told the group that the program would help homeowners and get the economy back on track by removing... (Continue reading)
Podcast: Mandelman in the Morning – Labor Day
Written on 6 Sep, 2010 at 13:29
1. Lehman Bros. CEO says bankruptcy wasn't Lehman's Fault. 2. Stimulus is folly. 3. Call it a depression. 4. Geithner's happy about HAMP. 5. Foreclosures breed foreclosures. 6. AZ's loan mod program won't work. ... (Continue reading)
NEW! Mandelman in the Morning… Podcast!
Written on 5 Sep, 2010 at 15:04
Click on the link to tune in to the Mandelman in the Morning Podcast for September 3, 2010... ... (Continue reading)
Banks Kick Consumer’s Butts Once Again – SB 1275 Dies in the California Assembly
Written on 1 Sep, 2010 at 7:41
Even though the bill was supported by EVERYONE but the banking lobby, it was rejected 36-30 in the Assembly. Even after it was approved by the state Senate and three Assembly committees. This time... no... but thank you... (Continue reading)