Thursday 2nd May
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Ocwen Loan Servicing Takes Home from Handicapped Because There’s Equity
Written on 27 Jun, 2011 at 5:44
Also, call me naïve, but I have to believe that this is all some sort of gigantic oversight, and you’re going to learn of it… correct it immediately… and the Giangregorios are going to live in their home… happily ever... (Continue reading)
Fannie Mae Chickens Out of Phone Conference with Hawaii’s Homeowners
Written on 26 Jun, 2011 at 5:16
For example, in response to Fannie's announcement, there was talk of circulating a petition asking that Fannie... I suppose... reconsider their position and agree to participate in the state's new mediation program. Adorable, right?... (Continue reading)
Bringing Up the REAR – Jamie Dimon, Chairman & CEO, JPMorgan Chase & Co.
Written on 19 Jun, 2011 at 16:47
“You have exactly 11 hours to sign and notarize this form. Then deliver three copies to one of three addresses in your home city between 3:00 PM and 4:30 PM on Thursday. The catch is that you must... (Continue reading)
FOR THE FATHERS
Written on 19 Jun, 2011 at 5:48
But, it’s hard for me to be happy without thinking about the hundreds of thousands or perhaps millions of fathers who while they smile through their day, are also worrying about what will happen tomorrow because they know that, despite... (Continue reading)
GUEST POST: President Obama, please don’t let them take Grandma’s house!
Written on 17 Jun, 2011 at 21:00
A Guest Post by Chicago attorney, Rick Rogers of Rogers Law Group. Rick and I met last year when we attended Max Gardner's Boot Camp in North Carolina last year; we actually shared the Riverview Cabin on Max's ranch... (Continue reading)
Civil Beat Reporter in Hawaii Interviews Mandelman on Fannie Mae Decision to Foreclose Judicially
Written on 15 Jun, 2011 at 18:28
"The people of Hawaii today are very proud of their Legislature for (Act 48)," Andleman said. "It was a grassroots movement, they felt like they had a real success on a national scale. I mean it was a big deal.... (Continue reading)
The Definition of Dichotomy
Written on 15 Jun, 2011 at 3:25
So, now the Attorneys General from New York and Delaware are investigating in order to find out whether trillions of dollars in loans were seriously mishandled and therefore are not in the trusts, as the banksters said they were. ... (Continue reading)
Mandelman’s Monthly Museletter – Version 13.0
Written on 12 Jun, 2011 at 3:11
In this issue: 1. Banker-Speak... A new language. 2. An Interesting List. 3. Lessons from History... How we handled foreclosures during the 1930s. 4. I wanted to like Bruce Marks of NACA... but I can't. 5.... (Continue reading)
Fannie Responds to Hawaii’s New Foreclosure Law – Says… WE’RE OUT!
Written on 12 Jun, 2011 at 0:35
So, I really didn't know what the banking industry was going to do... I only knew one thing with certainty, even if everyone didn't agree... no way would they conform to the new law governing non-judicial foreclosures. Mediation sounded... (Continue reading)
NBC/MSNBC.com Try to Cover the Foreclosures Crisis
Written on 10 Jun, 2011 at 6:34
No matter, at least you're understanding that today the people falling into foreclosure did nothing to cause their fate. It's now happening at every socio-economic level of our society, and you may be assured that it will spread and... (Continue reading)
Treasury Official: “HAMP’s Incentives Meaningless” – SO, PROGRAM WASTED $560 MILLION?
Written on 9 Jun, 2011 at 21:59
If that’s the case, and I have no reason to believe that it isn’t, then I would only like to suggest that perhaps some of the millions eligible for withholding could have been withheld prior to paying them the $560... (Continue reading)
Please Call the White House Today for Elizabeth Warren… Here’s the Number and a Script. Please Call.
Written on 9 Jun, 2011 at 14:06
I had the privilege of meeting Elizabeth Warren about a month ago when she was in San Diego and here are a few of the things she said to me... I wrote them down at the time so I'd have... (Continue reading)
Bank of America forecloses on un-mortgaged Florida home… that’s hardly news. Is EVERYONE missing the point here?
Written on 8 Jun, 2011 at 18:50
What the heck is going on around here? We’re now passing around a story about a stupid PR stunt by a lawyer that ended up making Bank of America look REASONABLE? Oh my God, people… listen to me... (Continue reading)
Dear Banking & Government People Who Are Reading This…
Written on 8 Jun, 2011 at 5:47
You guys all now know that this thing had about as much to do with sub-prime borrowers as World War II. Unless you can point out a sub-prime borrower who was selling synthetic CDOs in Iceland, I think we're... (Continue reading)
Earth to Bankers, Earth to Bankers… Your Planet is Dying, You Must Evacuate, It’s Time to Come Home.
Written on 7 Jun, 2011 at 7:39
The bankers... yes, the very same bankers who leveraged up on garbage CDOs as if housing prices would never ever go anywhere but up are now supposedly shocked and dismayed that mortgage lending volumes don't seem to be "coming back,"... (Continue reading)
MAX GARDNER from the Front Lines of the Battle… A Mandelman Matters PODCAST!
Written on 5 Jun, 2011 at 16:43
Click the button below... and you'll hear a Mandelman Matters PODCAST... A PODCAST THAT MATTERS, if you will. From start to finish, it's unquestionably MAX GARDNER at his candid best. ... (Continue reading)
Mandelman’s Overview of Economic News That Matters
Written on 3 Jun, 2011 at 6:03
So, there you have it... a veritable cornucopia of bad news... and all of it from CNBC, a cable news channel that normally broadcasts nothing but bull... markets. Bull markets... that's what I meant. But, it's getting impossible... (Continue reading)
The Luckiest Bankers the World Has Ever Seen! And They’re Ours! Yay!
Written on 3 Jun, 2011 at 3:35
Assuming you were such an adept trader of securities that you had a 70% probability of making money on any given trading day, which would, by the way, pretty much make you a God of Wall Street… the odds that... (Continue reading)
Hey Everybody… It’s “Pretend You’re Surprised About the Economy Day!”
Written on 1 Jun, 2011 at 9:51
Falling Home Prices, the Next Financial Crisis is Near, Defaulters Aren't Deadbeats After All, the Economy with Gwen Ifill and MERS has No Clothes.... (Continue reading)
Dylan Ratigan on “Fraudclosure” Still Seems to be “Lite” on Servicers
Written on 1 Jun, 2011 at 4:59
I'm not kidding about this... every morning I wake up, get my coffee, turn on some cable news show, look over at my wife and say: "Look at that, honey... BofA didn't blow up again today! Will wonders never... (Continue reading)
Today’s New… “But, You Didn’t Make Your Payment” Exemption to the Law
Written on 29 May, 2011 at 19:20
Don't make this more complicated than it need be. If you came and repossessed my car but were NOT the person or entity holding my pink slip, then we had a phrase to describe that occurrence as well ...... (Continue reading)
On Friday I turned 50 years old, and although I haven’t changed, this country sure has…
Written on 29 May, 2011 at 17:01
What’s changed is this country. It’s not at all the same as it’s been throughout my lifetime, in fact it’s very different in quite a few substantive ways… do you feel it too, or is it just me? ... (Continue reading)
Elizabeth Warren Battles With GOP Over CFPB
Written on 26 May, 2011 at 7:29
How can ANYONE support today's Republicans in the House of Representatives or United States Senate? How can they think anyone will after seeing their behavior related to the Consumer Financial Protection Bureau ("CFPB")? ... (Continue reading)
Guest Post: Max Gardner on Rep. McHenry’s Shameful Treatment of Elizabeth Warren
Written on 26 May, 2011 at 5:11
And now we have Brother Patrick McHenry attacking in an outrageous fashion the one and only person in America who is trying to stand up for consumers and to protect us from the Banksters who singleâ€handedly brought about the biggest... (Continue reading)
If You Think the Meltdown Was the Fault of Homeowners, Think Again…
Written on 25 May, 2011 at 18:46
So... in “Pillage,” Nomi Prins explains in terms anyone can understand that factoring in the leverage at 11:1, we're looking at a $140 TRILLION economic problem... yes, you read that correctly... that's trillion, with a 'T'... (Continue reading)
Marques LIVES! Homeowner wins, then loses, then WINS!
Written on 25 May, 2011 at 8:11
Okay, so Mr. Marques is nothing if not persistent, apparently, and God bless him for that, because this time out… his third time at bat… he hits one out of the park! ... (Continue reading)
Paula Pennypacker – An Arizona Republican Conservative Finds Mandelman Matters
Written on 24 May, 2011 at 4:33
Today, she writes a Republican conservative blog on azcentral.com. And she’s found Mandelman Matters and joined the group of Americans who know the foreclosure crisis must be stopped. ... (Continue reading)
Breaking Down the Real Cause of the Foreclosure Crises
Written on 23 May, 2011 at 7:29
In 2014, it will be seven years since the meltdown began in the summer of 2007, and something in the neighborhood of 15 million homes will have been lost to foreclosure. And there’s no reason to believe that foreclosures... (Continue reading)
When Auditing Foreclosures, the OCC’s Definition of the Word “Thorough” is “Hidden”
Written on 21 May, 2011 at 9:50
The findings of the independent reviews will be… sealed… closed to the public… whatever the independent reviews uncover or determine will remain a well-publicized secret. ... (Continue reading)
KILL BILL: Arizona Mortgage Lender’s Association Takes Credit for Killing SB 1259
Written on 19 May, 2011 at 6:33
Hagen went on to explain that he had lobbied “the individual that issued the strike everything amendment, which I would say would have to be Rep Nancy McClain, but I suppose it could also have something to do with Sen.... (Continue reading)
HUD Investigation Shows Banks Covered Up Widespread Illegal Acts – Government offers to bring them their check and validate their parking
Written on 19 May, 2011 at 2:01
According to Shahien’s story in HuffPo, the secret investigations were initiated in response to last year’s reports, which indicated that large lenders were improperly accelerating foreclosure proceedings… or, in other words… look who just figured out that robo-signing affidavits and... (Continue reading)
Over There… Over There… Send The Word, We’ll Foreclose, While You’re There
Written on 16 May, 2011 at 18:52
So, what exactly is the problem here, banker-people? Don’t you have enough homeowners under consideration for a loan modification that you can foreclose on without notice that aren’t active duty military? No one, save a handful of foreclosure... (Continue reading)
FDIC Chair Sheila Bair Warns Senate Committee about “Millions of Infected Foreclosures”
Written on 14 May, 2011 at 1:17
Well, perhaps it’s because Sheila is now a short-timer and will be retiring from her post at the FDIC this July, that she is now feeling a little more comfortable telling the truth, even if that means disagreeing with Walsh... (Continue reading)
KPHO Channel 5 Arizona Airs Story on Rep. Seel’s Principal Reduction
Written on 12 May, 2011 at 10:46
Spolier Alert: Rep. Seel, who wonder of wonders... serves on the... wait for it... BANKING AND INSURANCE COMMITTEE... DENIES that his $100,000 principal reduction had anything to do with his decision to run late that day and not propose the... (Continue reading)
Mandelman Responds to SF Chronicle Article: Fighting Banks and Winning – How Homeowners Did it
Written on 12 May, 2011 at 10:00
Why did you become a reporter, Carolyn? Because if it was to write about events such as these in the style and tone of your article, then I'd suggest you consider looking for a copywriting gig at an ad agency.... (Continue reading)
The Care Bair – FDIC’s Sheila Bair Wants Principal Reductions from Banks With Loss Sharing Agreements
Written on 12 May, 2011 at 6:22
I know… you think not modifying those loans is punishing the homeowners for getting in over their heads… but in realty, it’s not punishing them… it’s punishing you… you are running about, commenting on blogs, advocating the kicking of your... (Continue reading)
Is Bank of America Worth $200 Billion?
Written on 12 May, 2011 at 1:30
Bank of America bought Countrywide for $4 billion and change. That sounds funny to me now. You’ve got to admit it. The idea that someone would PAY money for Countywide has to make you giggle at least... (Continue reading)
Mandelman’s Monthly Museletter – Version 12.0
Written on 11 May, 2011 at 8:59
In this issue: 1. Treasury reports 84% of HAMP loan mods current after 12 months. 2. Surprise, Surprise... Falling Home Values. 3. State AGs Beg Servicers for Crumbs. 4. Iowa's AG, Miller Calls B.S. 5. Banks... (Continue reading)
GAO Study Published May 5th Discovers Illegal Foreclosures
Written on 8 May, 2011 at 6:49
Personally, I’m holding out for the U.S. Post Office’s study of mortgage servicer performance, which I hear is going to be followed up by a scathing report being issued by the Bureau of Land Management in conjunction with the Department... (Continue reading)
A case of major lending institutions with no respect for the law… Part of the system that destroyed the American economy
Written on 7 May, 2011 at 8:20
Thigpen says that a large number of national banks, including Bank of America, Wells Fargo, HSBC and others repeatedly filed documents with forged signatures illegally notarized and other false information, and not only in his Register of Deeds office, but... (Continue reading)
SB 729 Fails – California Homeowners Get Banked but not Kissed Once Again
Written on 6 May, 2011 at 1:36
Tweet California Senate Bill 729 failed to pass in the Senate Banking Committee for the second time in the last two weeks. In a related story, it seems that the rights of chickens have suffered yet another blow, with the... (Continue reading)
Governor Abercrombie Signs SB 651 – Toughest Foreclosure Bill in Nation NOW LAW!
Written on 6 May, 2011 at 0:17
The new law makes mediation prior to foreclosure MANDATORY if requested by the borrower, and requires mortgage servicers attempting to foreclose to submit to the mediation board, 14 days prior to mediation, proof that the chain of title is intact,... (Continue reading)
The Impassioned Words of Rep. Bob Herkes & Sen. Roz Baker on SB 651
Written on 4 May, 2011 at 19:39
My heartfelt thanks goes out to Rep. Herkes and Sen. Baker... the people of Hawaii are very lucky to have you serving in their state's legislature. My sincere hope is that you will be recognized for your work so... (Continue reading)
Wal-Mart, Bill Clinton & Now Act 885… Things I know about Arkansas?
Written on 4 May, 2011 at 9:14
Isn’t that the 800 lb. gorilla in the room that we’re talking about here? I mean, can they provide any of those things? It certainly doesn’t seem so, unless LPS or DOCX or some foreclosure mill law firm... (Continue reading)
The Most Damaging Propaganda Campaign in History. And its Aimed at You and Me
Written on 4 May, 2011 at 1:12
Debt is a status symbol… debt is a sign of success… debt is cool… you should want as much debt as you can get… being approved for more debt means you’ve made it. I want to be a gold... (Continue reading)
BREAKING NEWS: HAWAII PASSES SB 651 – NATION’S TOUGHEST FORECLOSURE BILL
Written on 3 May, 2011 at 23:43
It’s official! Just hours ago, the Great State of Hawaii’s legislature has passed the nation’s toughest foreclosure prevention bill, SB 651. The bill proved to have overwhelming support, with the senate voting to pass the bill, 23 to... (Continue reading)
Hawaii 2011 – My Prayer for Hawaii’s Homeowners and SB 651
Written on 3 May, 2011 at 0:16
But then... the people in Arizona... well, they don't have Brudda IZ... now do they? Click play... turn up your speakers... close your eyes... and pray for SB 651 to pass tomorrow. Amen.... (Continue reading)
Hawaii’s Legislature Poised to Pass Nation’s Strongest Foreclosure Protection Bill
Written on 2 May, 2011 at 7:33
The dialog about the foreclosure crisis began when FACE member ministers began talking openly about there being no dignity for the families trying to save their homes from foreclosure by the mainland banks. That’s what motivated FACE to get... (Continue reading)
Please Stop Bernanke’s Transparency – He’s Frightening the Children
Written on 30 Apr, 2011 at 7:55
Okay, that’s it… I’m convinced… Ben has never actually been to a “troubled community.” Would someone in Washington D.C please take him on a tour of pretty much anywhere Southeast will do… Minnesota Avenue, Lincoln Heights, I’m sure Anacostia... (Continue reading)
AZ Rep. Seel Drops Amendment Requiring Pre-Foreclosure Chain of Title, 2 Days After Servicer Grants Principal Reduction
Written on 29 Apr, 2011 at 19:24
As a result of that close involvement, Darrell says he personally saw the paperwork indicating both the trustee sale was being cancelled and that the significant principal reduction was being granted as part of Seel’s loan modification. He... (Continue reading)
THEY ONCE WERE LENDERS – Understanding government’s failure to stop bankers OR scammers from destroying homeowners.
Written on 25 Apr, 2011 at 21:47
And, to add insult to injury, our government has stood by obtuse and witless as these same banks have been permitted to lie, mislead, abuse, disrespect, malign and outright torture homeowners trying to apply for a government program funded by... (Continue reading)
Mandelman Talks with Ohio’s Ex-Attorney General About Foreclosure Crisis
Written on 24 Apr, 2011 at 8:53
Mandelman talks with Ohio's ex-Attorney General about foreclosure crisis and government's inadequate response. ... (Continue reading)
St. Louis BBB Warns Homeowners: “Steer Clear of Mass Joinder Lawsuit Mailings”
Written on 24 Apr, 2011 at 6:18
Mitchell Stein’s complaint in the Ronald v. Bank of America lawsuit has been used as the model for suits filed by Phillip Kramer and others. I spoke with Mitch for several hours the other day and I can tell... (Continue reading)
A Funny Thing Happened on the Way to the AZ House of Representatives… After passing the Senate 28-2… S.B. 1259 Completely Disappeared
Written on 21 Apr, 2011 at 3:40
This is not about chain of title issues, even though it is as well. This is about our country… our republic… our representative democracy… the land of opportunity… where there are no castes from which one is relegated to... (Continue reading)
GOT ONE! Jury Convicts Taylor Bean’s CEO Farkas of Bank, Wire, Securities Fraud and Conspiracy
Written on 20 Apr, 2011 at 9:59
Soon, the hole grew to over $100 million, so Taylor Bean and a handful of Colonial executives figured that the easiest thing to do would be for Taylor Bean to simply sell hundreds of millions in mortgages THAT HAD ALREADY... (Continue reading)
FEDS Announce Enforcement Actions Against 14 Servicers, LPS and MERS… Hot Towels in Washrooms Threatened Once Again
Written on 19 Apr, 2011 at 14:41
Still, I’m committed to covering this subject even when doing so means that I have to start drinking at 9:30 in the morning… kidding, I’m just kidding… so, here’s the news on the FEDS and their “enforcement actions,” and I... (Continue reading)
A Crush on Matt Taibbi and a Pox on Both Their Houses
Written on 19 Apr, 2011 at 5:49
So, the strategy now seems quite clear: Our government decided to address the financial crisis and economic meltdown by handing out hundreds of millions to the wives of Wall Street executives so they could invest in student loans and commercial... (Continue reading)
Bank of America’s “Tasmanian Devil” says we shouldn’t be thinking of our homes as “assets”.
Written on 18 Apr, 2011 at 22:41
Now, if all of that weren’t enough to make the case for Bryan Moynihan being this month’s REAR, here’s what really got me started on him in the first place. Last month, at the 2011 National Association of Attorneys... (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)
Mandelman’s Monthly Museletter – Version 11.0
Written on 18 Mar, 2011 at 9:31
Inside this month's Museletter: 1. FDIC Sues 3 Top WaMu Executives. 2. American Banker Reporting "Lack of Leadership" is the Problem. 3. Video by North Carolina Realtor Says it All About BofA. 4. New Report Should Be... (Continue reading)
The California Department of Real Estate Issues “CONSUMER ALERT” Warning Consumers About “Mass Joinder” Lawsuits
Written on 18 Mar, 2011 at 5:39
The California Department of Real Estate has issued a Consumer Warning specifically to address the multitude of marketing efforts promoting participation in "mass joinder lawsuits," as filed by at least two law firms, The Law offices of Mitchell J. Stein... (Continue reading)
BoA’s Bad Bank – Pay No Attention to the 6.7 Million Loans Behind the Curtain
Written on 13 Mar, 2011 at 23:57
See, these are the kinds of things that make me afraid of the world around me… like, now I don’t want to even leave my house. Does stuff like this work on “investors?” What… are the “investors” he... (Continue reading)
Mandelman U. Presents – Securitization & Mortgage Backed Securities
Written on 12 Mar, 2011 at 5:38
Come back to 6th Grade where I’ll be teaching real 6th graders all about what the banks did to break the world. We’re going to cover the Bond Market and Securitization, CDOs and CDSs… and even Synthetics and... (Continue reading)
House Financial Services Committee: Spending $1610 to Save a Home is Too Much – Votes to Kill HAMP
Written on 11 Mar, 2011 at 8:56
You should all hide your faces from the people who sent you to Washington… you should all be ashamed for everything you have and haven’t done. Your ignorance and insensitivity will be disdained for many years to come.... (Continue reading)
Republicans Leap to the Aid of Banker-Servicers Over AG Settlement Proposal
Written on 10 Mar, 2011 at 9:52
But, unquestionably, the best part of Senator’s Shelby’s largely unintelligible rant, was when he threw down the “don’t fine them or there’ll be no lending” card. He draws that card like a gun, doesn’t he? He even sounds... (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)
Finally 60 Minutes Shows It – But, it’s not news… and it’s late.
Written on 7 Mar, 2011 at 10:49
Just think about it... millions of children being evicted from homes while according to the latest Fannie Mae survey, 53% of Americans blame the borrowers for buying homes they couldn't afford... do you know how stupid that sounds? ... (Continue reading)
The Psychology and Politics of Foreclosure
Written on 7 Mar, 2011 at 7:00
Of course, there are times when more stuff happens to more people, and today is obviously an example of such times. The economic conditions that we're experiencing today are causing more foreclosures than at any time since the 1930s. When... (Continue reading)
Homeowner Suffers Horrific Injustice at the Hands of JPMorgan Chase
Written on 4 Mar, 2011 at 12:46
We're not people who simply decided to skip out on our mortgage. We did everything as upright and by the book as we were instructed to do by Chase yet we still lost our home. On the day they took... (Continue reading)
In Re Walker, Part Deux – March 3rd, 2011, may just be a HUGE day for California Homeowners
Written on 1 Mar, 2011 at 20:11
So, Citi’s lawyers filed a new proof of claim… and Ricki Walker’s attorney, Mitchell Abdallah, filed a new objection, so Judge Sargis will once again have a chance to uphold the rule of law and change the playing field for... (Continue reading)
Fannie Mae’s Latest Housing Survey Shows Many Have No Idea What’s Happening
Written on 1 Mar, 2011 at 6:33
When that is understood by the majority of Americans, I believe we will finally be ready to throw away the meaningless distinctions, "responsible homeowners and irresponsible homeowners," and we'll return to just being American homeowners. ... (Continue reading)
Man Drives Car Through Bank of America’s Lobby – Police Investigate, Unsure of Motive
Written on 28 Feb, 2011 at 23:26
So, wait a minute here… he drove into the bank… into it… he was inside a Bank of America at 4:00 AM… and police are still trying to determine if any property was taken… but he’s only being charged with... (Continue reading)
Guest Post: Principal Reduction Modification Math, by Rick Rogers, JD/MBA
Written on 27 Feb, 2011 at 10:57
This report will compare the Net Present Value (NPV), of standard Home Affordable Modification Program (HAMP), modifications with Principal Reduction Alternative HAMP (PRA HAMP) modifications. If the mortgage principal balance on a home exceeds 115% of its market value,... (Continue reading)
If at first you don’t succeed, CRIME, CRIME again.
Written on 27 Feb, 2011 at 10:32
I’m not going to attempt to write some scathing or potentially insightful commentary about Mr. Mozilo, I’m sure that’s been done many times before, and frankly… he bores me to no end. But, at the same time I felt... (Continue reading)
Is HAMP Poised to Improve in Year 3?
Written on 27 Feb, 2011 at 6:53
Laurie, as “the architect” of the HAMP program, are you aware that these servicers you’re pandering to at the Mortgage Bankers Association conference, have been nothing short of torturing America’s homeowners relentlessly, mercilessly, and without rhyme or reason for three... (Continue reading)
Bankers Apoplectic Over Arizona’s Republican Dominated Senate Passing Chain of Title Bill, 28-2
Written on 24 Feb, 2011 at 23:37
The only reason this bill is being pushed through the Arizona legislature is that one of that state’s senators actually tried to rescind her own predatory loan and found out first hand what it’s like to have to deal with... (Continue reading)
Ice, Ice Baby – Iceland’s people give cold shoulder to paying for acts of reckless bankers.
Written on 21 Feb, 2011 at 8:21
Now, the British and Dutch governments want their money back, but Iceland’s people are saying, well… no, not to put too fine a point on it. You might even say that the Icelanders are saying: “Hell no!” ... (Continue reading)
Sen. Whitehouse Questions Expose a Kinder, Gentler and possibly more Frightened Tim Geithner
Written on 19 Feb, 2011 at 6:56
They've finally realized it... do you think? They thought other things would have happened by now as a result of pumping trillions into banks and the economy overall... and they haven't. And housing is in a free fall,... (Continue reading)
Federal Regulators to Bring Enforcement Actions Against Banks… May Get Rid of Hot Towels in Washroom
Written on 17 Feb, 2011 at 11:27
You know what… go to hell. How about the servicers offer “enhanced, streamlined modifications to troubled borrowers” just because it’s the right thing to do? How about the servicers do it because although they can never come close... (Continue reading)
Hawaiian Homeowners Pay Unexpected Visit to Bank of America in Honolulu
Written on 17 Feb, 2011 at 8:26
You know… I’ve been wondering when the Hawaiians were going to get into the game on this loan modification foreclosure thing and there you have it… and they brought Valentine’s Cards and sang a song. ... (Continue reading)
New Fed Governor Sarah Bloom Raskin Gives Me Reason to Hope
Written on 15 Feb, 2011 at 15:53
I read her speech yesterday evening; parts actually gave me chills, and parts left me with a hopeful tear in my eye. She says almost exactly what I’ve written in my articles on at least dozens and at this... (Continue reading)
David Stern – The Foreclosure King
Written on 14 Feb, 2011 at 13:06
Stern is emblematic of everything that’s ugly and wrong with the mortgage banking and finance industries in this country. Whether all the allegations about him are true is irrelevant. In my view, he’s an unethical, arrogant, abusive and... (Continue reading)
New Bankruptcy Court Decision Sounds the Alarm – The USS MERS is Going Down
Written on 14 Feb, 2011 at 10:07
Now, clearly this is a decision that’s worth reading for one’s self… Judge Grossman is one heck of a writer and not one to play patty-cake with MERS or those of the banking persuasion, but I thought I’d at least... (Continue reading)
CalHFA’s $2 Billion Home Rescue Program… Here’s How Stupid They Think We Are.
Written on 10 Feb, 2011 at 10:14
You see, it’s a very well thought out no-lose proposition, this new California foreclosure rescue program… because if the banks refuse to participate in it, which would kill the whole principal reduction aspect of the plan, it’s really not a... (Continue reading)
A San Diego Attorney Speaks Out on How SB 94 Has Taken Legitimate Lawyers Away from Homeowners
Written on 9 Feb, 2011 at 9:58
SB 94 is simply a law written by the Senate Banking Committee to make it next to impossible for a homeowner to hire a lawyer when at risk of foreclosure. I bet the banks wish they could have passed... (Continue reading)
Tomorrow, February 3rd, is Call Your Attorney General Day to Get Tough on Foreclosure Fraud!
Written on 3 Feb, 2011 at 18:59
Tomorrow is call your Attorney General Day nationwide. I need you to take action here... it's time to be heard. The foreclosure crisis must be stopped and servicers must be held accountable for their crimes.... (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)
Republicans Preparing to Play Politics With HAMP
Written on 31 Jan, 2011 at 7:17
So, just curious… who woke up the House Republicans, a group who have otherwise been fast asleep these last two-plus years, at least as far as the foreclosure crisis is concerned. In point of fact, over the last two... (Continue reading)
California Appeals Court Rules Homeowners Can Sue Banks for Fraud Over Broken Loan Modification Promises
Written on 29 Jan, 2011 at 9:36
See… this is an excellent example of why I’m starting to think we’ve become too civilized a society. I was born back in Brooklyn, New York, I mostly grew up in Pittsburgh, and my wife’s from the City... (Continue reading)
KA-BOOM! INVESTORS FILE SUIT: Bank of America, Countrywide and named executives committed “MASSIVE” SECURITIES FRAUD related to Mortgage-backed Securities
Written on 25 Jan, 2011 at 10:24
So, if the investors that are supposed to own the loans that are supposed to be assigned to the trusts say the notes were never assigned to them, and therefore they say they don’t have the right to foreclose… how... (Continue reading)
$160 Million to DEFEND Fannie & Freddie? Now, if I could only find that damn rabbit hole I must have slid down…
Written on 24 Jan, 2011 at 10:42
So, we the taxpayers have spent $160 Million DEFENDING them? Defending them? Gretchen… I think you must have a typo there, right? Shouldn’t the question be, how much are we spending to PROSECUTE them? I mean,... (Continue reading)
Do you need a lawyer to get a loan modified?
Written on 24 Jan, 2011 at 7:13
Qualified (and of course ethical) lawyers are infinitely better than the vast majority of homeowners for the same reason that I’m afraid of my wife, but I’m not afraid of yours… do you know what I mean by that? ... (Continue reading)
How Banks View Loan Modifications
Written on 23 Jan, 2011 at 13:29
They’re manipulating you into feeling ashamed for being in trouble on your mortgage… but don’t let them make you feel that way. It’s not your fault… it’s the banks that wear the black hats in this horror movie, make... (Continue reading)
UNDERSTANDING MARS – A Webinar on the FTC’s Final Rule – With Compliance Attorney, Julie Greenfield
Written on 23 Jan, 2011 at 11:00
Mandelman Matters decided to produce this important Webinar because this new Final Rule is something with which EVERYONE involved, either directly or peripherally, in helping consumers avoid foreclosure will need to understand inside and out. This new federal rule applies... (Continue reading)
Mandelman On the Radio with Danny Schechter, The News Dissector
Written on 22 Jan, 2011 at 11:00
Danny Schechter, The News Dissector (his radio show out of New York City) and I will be talking for the next hour about the foreclosure crisis and loan modifications and more. You can call in and join the dialog at... (Continue reading)
Mass Hysteria – The Iabanez Decision by the Massachusetts Supreme Court
Written on 22 Jan, 2011 at 10:50
The bankers have blown it, and they’ve blown it big. To me it looks like there are multiple swords hanging over the heads of the too-big-to-fail crowd. They report fake earnings based on suspended accounting rules… they lie... (Continue reading)
GMAC… Payments or Not, The Foreclosure Machine that Just Won’t Stop
Written on 15 Jan, 2011 at 1:55
The first time GMAC foreclosed on the couple’s home was back in 2001. Totally current on their mortgage payments, it must have come as quite a shock. Once in foreclosure, GMAC wouldn’t accept their monthly payments, so... (Continue reading)
U.S. Breaks Housing Price Decline Record Set During Great Depression
Written on 14 Jan, 2011 at 20:36
According to RealtyTrac, 1,050,500 homes we repossessed by banks last year.So, for those that think foreclosures are somehow a good thing, I guess congratulations are in order. For those not afflicted by such diminished cognitive abilities, I can only... (Continue reading)
Last person out, turn off the lights, and bring the flag…
Written on 13 Jan, 2011 at 15:13
The overriding theme was that this country missed the opportunity “to rein in (our) largest financial institutions,” and they are now driving our national bus. Even in light of what’s transpired over the last few years, we’ve allowed them... (Continue reading)
BRINGING UP THE REAR: Senate Minority Leader Mitch McConnell
Written on 12 Jan, 2011 at 20:40
He went from being a man of the people, to being the best friend Wall Street could ever have hoped for, and for that the Republicans accuse him of being a socialist, while the left accuses him of being too... (Continue reading)
