Posts Tagged ‘consent orders’

OCC Clamps Down on 6 Banks for Noncompliance with 2011 Consent Orders

OCC Clamps Down on 6 Banks for Noncompliance with 2011 Consent Orders

Servicers were cited for failing to respond to borrower requests for loan modifications, not making a good-faith effort to prevent foreclosures and not having systems in place to track progress.... (Continue reading)

Insider Says Wells Fargos Independent Foreclosure Review for OCC is a Sham

Insider Says Wells Fargos Independent Foreclosure Review for OCC is a Sham

What follows is a podcast featuring the "whistle blower"... the anonymous independent file reviewer working for Promontory on the Wells Fargo Bank account that reached out to us because he was fed up. I verified his identity and spoke... (Continue reading)

Bringing UP the Rear Fannie Maes President and CEO, Michael J. Williams

Bringing UP the Rear  Fannie Maes President and CEO, Michael J. Williams

And I’ll never be able to prove this, but I’m al most positive that I could have bankrupted Fannie Mae for a lot less than $1.5 trillion, and I don’t know anything about the mortgage business. In fact, I... (Continue reading)

When Auditing Foreclosures, the OCC’s Definition of the Word Thorough is Hidden

When Auditing Foreclosures, the OCC's Definition of the Word Thorough is Hidden

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)

FDIC Chair Sheila Bair Warns Senate Committee about “Millions of Infected Foreclosures”

FDIC Chair Sheila Bair Warns Senate Committee about

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)

AZ Rep. Seel Drops Amendment Requiring Pre-Foreclosure Chain of Title, 2 Days After Servicer Grants Principal Reduction

AZ Rep. Seel Drops Amendment Requiring Pre-Foreclosure Chain of Title, 2 Days After Servicer Grants Principal Reduction

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)


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