Posts Tagged ‘FDIC’

FDIC Shared Loss Agreements Did NOT Pay Off Your Loan (No Matter What AZ Court Seems to Think)

FDIC Shared Loss Agreements Did NOT Pay Off Your Loan (No Matter What AZ Court Seems to Think)

It’s remarkable, if you think about it, how many people are supposedly trying to pay off your underwater mortgage once you’ve stopped making your mortgage payments. It’s like there’s a rush to pay off your mortgage once you default on... (Continue reading)

I SAY GIVE HIM TWO – Ernie Banks Awarded Presidential Medal of Freedom

I SAY GIVE HIM TWO – Ernie Banks Awarded Presidential Medal of Freedom

Today, Ernie Banks was at the White House being awarded the Presidential Medal of Freedom by President Barack Obama. It is the highest civilian honor that this country bestows, and this year was the 50th anniversary of the award,... (Continue reading)

Glaski Attorney Richard Antognini on the Court’s Decision and What’s Next for Mr. Glaski – A Mandelman Matters Podcast

Glaski Attorney Richard Antognini on the Court's Decision and What’s Next for Mr. Glaski - A Mandelman Matters Podcast

Not only will Richard leave listeners with a level of understanding specific to the Glaski decision that would otherwise be unavailable, he’ll talk about other recent decisions in California that he says are very important to homeowners... he’ll offer guidance... (Continue reading)

Illinois Latest State to Make Foreclosing Much Harder

Illinois Latest State to Make Foreclosing Much Harder

Okay, so that’s GAME OVER for the State of Illinois. Ball four... take a hike... we’ll see you back here in 2014 or 2015. Take some time off, you deserve it. ... (Continue reading)

End of Credit Markets to Beginning of Bailouts with D.C. Insider, David Min – A Mandelman Matters Podcast

David takes us through concise and easy to understand explanations of most of the major events since the meltdown began on July 10, 2007... the day the credit markets went into a deep freeze that continues to this day. ... (Continue reading)

OCC Foreclosure Review RIP – Anyone Care for Cheese With their Whine?

OCC Foreclosure Review RIP - Anyone Care for Cheese With their Whine?

All homeowners are “responsible” people. Or, to be more accurate, 99.9 percent of homeowners are responsible people. Some minuscule percentage of any group make up the small tail of the bell curve. The simple fact, and we... (Continue reading)

Were Addicted to Denying our Addiction to FHAs Mortgage Crack

Were Addicted to Denying our Addiction to FHAs Mortgage Crack

According to Moody’s Analytics, FHA's actions prevented home prices from dropping an additional 25%, which in turn saved 3 million jobs and half a trillion dollars in economic output. But now FHA is broke. Now what?... (Continue reading)

The Trillion Dollar Mistake That Triggered the Economic Meltdown

The Trillion Dollar Mistake That Triggered the Economic Meltdown

What could Mr. Bernanke and others have done differently? Addressed the real cause of the crisis, the lost trust part... by announcing that the U.S. government would be stepping into the bond market and guaranteeing the investment grade bonds…... (Continue reading)

Katherine Porter to Make Sure Homeowners Get What Servicers Promised – A Mandelman Matters Podcast

Katherine Porter to Make Sure Homeowners Get What Servicers Promised - A Mandelman Matters Podcast

Back in April of this year, they were granted 180 days to get their servicing operations ready to comply with the new standards, and as of yesterday, they'll be held to the 304 new rules for addressing the needs of... (Continue reading)

Understanding Elite Fraud and the Mortgage Meltdown with William K. Black – A MM Podcast

Why has no one at the top been investigated or prosecuted for fraud or anything else for that matter as related to the financial meltdown that has destroyed trillions of dollars in consumer wealth? Especially when William K. Black's... (Continue reading)

LBO AMERICA with Catherine Austin Fitts, A Mandelman Matters Podcast

LBO AMERICA with Catherine Austin Fitts, A Mandelman Matters Podcast

Catherine Austin Fitts has perspective on the housing and mortgage meltdown like no other. Under President George Herbert Walker Bush, she was Assistant Secretary of Housing and Federal Housing Commissioner at HUD, where she basically ran the Federal Housing... (Continue reading)

Chase? Hello? Mr. Dimon? Are You Really Going to Do This to a Single Mom in this Situation?

Chase?  Hello?  Mr. Dimon?  Are You Really Going to Do This to a Single Mom in this Situation?

It was a bad path to be on, as things turned out, but she didn’t know that for about 18 months. Right up until the day Chase sold her home without any real notice, Chase kept saying that they... (Continue reading)

Jamie Dimon tells Meet the Press he thinks were resenting success. Hes wrong.

Jamie Dimon tells Meet the Press he thinks were resenting success.  Hes wrong.

Dimon was quoted as having said that just because his bank had been stupid, it didn’t mean that all the other banks would be equally stupid. But, see… it sort of does, right? That’s why the sort of... (Continue reading)

Attention Homeowners & Lawyers: AG Mortgage Settlement Launches Online Complaint Sites

Attention Homeowners & Lawyers: AG Mortgage Settlement Launches Online Complaint Sites

I for one am glad to see that this country is finally taking the foreclosure crisis seriously and that my tax dollars are being put to good use, and I really do hope that everyone take advantage of the new... (Continue reading)

California Homeowner in Foreclosure Wins Quiet Title Its a Free House!

California Homeowner in Foreclosure Wins Quiet Title  Its a Free House!

For one thing, filing quiet title did work out well for Denise Saluto, and since I would never have predicted it happening in her case, I’m certainly not going to tell you it won’t happen again in yours, because as... (Continue reading)

White Powder in Envelopes Mailed to Wells Fargo in NYC Idiots happy its not toxic

White Powder in Envelopes Mailed to Wells Fargo in NYC  Idiots happy its not toxic

AP reported that the powder in the envelopes caused evacuations at bank branches, but no injuries, as if that last part mattered in the least. Idiots appear to be happy that the powder was found to be cornstarch… as... (Continue reading)

We know theyre not evil, because theyre simply not smart enough to be evil.

We know theyre not evil, because theyre simply not smart enough to be evil.

The European bankers are no different than is the FHFA, which is led by Ed DeMarco, the guy stopping Fannie and Freddie from reducing principal balances of mortgages. He says he won’t do it because his job is to... (Continue reading)

Thinking Out Loud ber-Trendy Rich New Yorkers & Ethiopian Cuisine

Thinking Out Loud ber-Trendy Rich New Yorkers & Ethiopian Cuisine

Doesn’t it just figure that in this country, where we have so much food we that throw away inconceivable amounts on an hourly basis and literally pay farmers millions of dollars not to grow stuff… that we’d have trendy intellectuals... (Continue reading)

Introducing 30 MINUTES OF TALKING – A Mandelman Matters Podcast

Introducing 30 MINUTES OF TALKING - A Mandelman Matters Podcast

This week's show focuses on the Obama Administration's handling of the foreclosure and housing crisis, by examining the statements made during the press conference the administration held to announce the settlement between the 49 state attorneys general and the five... (Continue reading)

GUEST POST: A Letter to President Obama, from James Deal, Attorney at Law

GUEST POST: A Letter to President Obama, from James Deal, Attorney at Law

I write to identify a policy change that would add trillions of dollars of liquidity to the housing market overnight. It would stimulate home sales, stabilize home prices, and reduce the number of home foreclosures.... (Continue reading)

MM PODCAST: From Fannie Mae to FHA – Edward Pinto Wants Government Out of Housing Finance

MM PODCAST: From Fannie Mae to FHA - Edward Pinto Wants Government Out of Housing Finance

On this Mandelman Matters Podcast, I ask Ed about the results of his extensive research into the FHA, which he refers to as the "new sub-prime," and "the next bailout." His extensive study of the FHA's data in terms... (Continue reading)

Ellen Brown, President of the Public Banking Institute, Has a Plan – A Mandelman Matters Podcast

Ellen Brown, President of the Public Banking Institute, Has a Plan - A Mandelman Matters Podcast

If you're not already familiar with Ellen Brown, then I might as well just go ahead and say: "Your welcome," because I can't imagine anyone not liking this prolific blogger, author of 11 books, attorney, and President and Chairman of... (Continue reading)

Max Gardner & Nye Lavalle Together in Concert – A Mandelman Matters Podcast

Max Gardner & Nye Lavalle Together in Concert - A Mandelman Matters Podcast

Having Nye Lavalle and Max Gardner together is a rare event. Together, they would have to be considered the founding fathers of today's foreclosure defense movement, so this is an opportunity to learn how it all began and where... (Continue reading)

Bringing Up the REAR Charles Gasparino, Fox Business Network

Bringing Up the REAR  Charles Gasparino, Fox Business Network

Also, I’m wondering something… when you say that, “foreclosures are a necessary ingredient to the housing market’s recovery,” how many do you figure we’re going to need in order to "recover?" ... (Continue reading)

Frank & Brian in Arizona for Spring Training: Think… Not, Work… Not.

Frank & Brian in Arizona for Spring Training: Think... Not, Work... Not.

Who knows... trying to pick the bottom has long since proven itself to be a fool's errand anyway, right? It certainly should have by now. My advice would be to buy on the way up. Missing the... (Continue reading)

Atty. Bruce Levitt of Kemp v. Countrywide – A Mandelman Matters Podcast

Atty. Bruce Levitt of Kemp v. Countrywide - A Mandelman Matters Podcast

Join me and New Jersey bankruptcy and foreclosure defense attorney, Bruce Levitt as we talk about Kemp v. Countrywide, a much anticipated New Jersey Supreme Court from 2010 that really made it clear that there were some problems with the... (Continue reading)

Watch this! Ireland wants the same answers we do.

Watch this! Ireland wants the same answers we do.

Ireland journalist won't give up. Why do our journalists fail to get started?... (Continue reading)

Wells Fargo Warns Shareholders – it’s own behavior may hurt the bank’s performance.

Wells Fargo Warns Shareholders - it's own behavior may hurt the bank's performance.

Negative public opinion could result from our actual or alleged conduct in any number of activities, including mortgage lending practices, servicing and foreclosure activities, corporate governance, regulatory compliance, mergers and acquisitions, and disclosure, sharing or inadequate protection of customer... (Continue reading)

Mandelman on “Saving the California Dream” on Fox 11 News KTTV Los Angeles

Mandelman on

Heidi Cuda, a producer from Fox 11 News in Los Angeles produced a week long series on the foreclosure crisis for the Channel 11 news and asked to interview me. I didn't like Part 1, but Part 2 was... (Continue reading)

Economy Recovering? No, it’s not. Housing? NO. Unemployment? NO. Stock Market? NO.

Economy Recovering? No, it's not. Housing? NO. Unemployment? NO. Stock Market? NO.

So… housing is not, not, not at bottom, – check. Unemployment not improving – check. And does the stock market at 13,000 mean something to the economy? Nothing good – check.You might want to bookmark this page, so... (Continue reading)

Bank sues itself, wins, and then forces itself into bankruptcy to satisfy judgment

Bank sues itself, wins, and then forces itself into bankruptcy to satisfy judgment

So, why did I write this? Because it makes just as much sense as everything else that’s going on in this country, and at least it made me smile. ... (Continue reading)

Best Picture Nominees Meet the Foreclosure Crisis at the 84th Annual Academy Awards

Best Picture Nominees Meet the Foreclosure Crisis at the 84th Annual Academy Awards

The foreclosure crisis is seeping into our society everywhere. Or, at least it soon will be... ... (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)

Wells Fargo Bank and Patricia Martin Part 2 A Bank that Cannot Be Trusted

Wells Fargo Bank and Patricia Martin Part 2  A Bank that Cannot Be Trusted

The bottom-line is, as anyone should be able to clearly see… Patricia Martin should NOT have lost her home and Wells Fargo SHOULD help her get it back with a modified payment so she can continue to live in the... (Continue reading)

The Good, the Bad and the Ugly in the Mortgage Settlement

The Good, the Bad and the Ugly in the Mortgage Settlement

The settlement agreement is supposed to help one million households by reducing their loan balance reduced. There’s no way is there enough money in this settlement to do all that much for anyone. But Obama has said it’s... (Continue reading)

Foreclosing on Oscar Mandelman’s List of Best Picture nominees

Foreclosing on Oscar Mandelman's List of Best Picture nominees

I haven’t actually seen any of them, but I’ve gone ahead and described them, so you can see the candidates through my somewhat jaded perspective… and my list is likely a little different than the others you’ll run across… I... (Continue reading)

OneWest Bank DOES IT for Lisa in Massachusetts! (DOERS ROCK!)

OneWest Bank DOES IT for Lisa in Massachusetts!  (DOERS ROCK!)

Plus, in Massachusetts, do you know how they do it? They auction the home off right on the soon to be ex-homeowner's front lawn, for all to see. I'll tell you what... that is some 17th century nonsense... (Continue reading)

Foreclosure Politics Here and Across the Pond – Professor David Coates on a Mandelman Matters Podcast

Foreclosure Politics Here and Across the Pond - Professor David Coates on a Mandelman Matters Podcast

This Mandelman Matters Podcast with Professor David Coates is not the same thing you've heard before, as he covers the foreclosure crisis both here in the U.S and in the UK. He also talks about the global financial crisis... (Continue reading)

Thank You Wells Fargo… Signed the DOERS of Mandelman & Field

Thank You Wells Fargo... Signed the DOERS of Mandelman & Field

Ooops, you did it again! Yes, it's true... Wells Fargo contacted Tom and Jeneane up in Granite Bay, California mid-day today to let them know that their SALE DATE of February 3, 2012 HAS BEEN POSTPONED. ... (Continue reading)

Freddie Macs Crimes Against Homeowners are NOT an Isolated Incident

Freddie Macs Crimes Against Homeowners are NOT an Isolated Incident

ProPublica is reporting that Freddie Mac has been placing “multi-billion dollar bets designed to only pay off when homeowners remain “trapped” in high interest rate loans, and that the government-owned mortgage monster began increasing such bets late in 2010, which... (Continue reading)

Our DOERS DID IT Again… One West Bank Stops Sale in East!

Our DOERS DID IT Again... One West Bank Stops Sale in East!

DOERS... you did it again. That's 7 out of 7 DOERS... we really are DOING it and making a real and very meaningful difference not only for the homeowners whose homes we've saved by helping them get sustainable loan... (Continue reading)

DOER ALERT: OneWest Bank Needs to STOP a Foreclosure Sale Monday Because It’s WRONG

DOER ALERT: OneWest Bank Needs to STOP a Foreclosure Sale Monday Because It's WRONG

In just two days from now, on Monday, January 30, 2012, at 3:00 PM… a terrible, tragic and yet easily avoidable event is scheduled to occur… and MUST BE STOPPED. OneWest Bank is scheduled to conduct a foreclosure auction... (Continue reading)

Bank of America Does the Wright Thing – DOERS Did It Again. JOIN US, BE A DOER!

Bank of America Does the Wright Thing - DOERS Did It Again. JOIN US, BE A DOER!

By mid-day on Tuesday, Bank of America had responded to say they were looking into it... and by 4:30 PM that same day Bank of America DID THE WRIGHT THING, and gave Mr. Dale Wright his home back... from a... (Continue reading)

DOER ALERT: Dear Bank of America…

DOER ALERT: Dear Bank of America...

The man's wife passed away in 2006. They were married for 53 years. Your bank explained that a request for postponement went in on the 23rd of December 2011 on a loan which Bank of America agreed to... (Continue reading)

Credit Suisse Tells Bloomberg: Mortgage Principal Cuts Dont Help Homeowners?

Credit Suisse Tells Bloomberg: Mortgage Principal Cuts Dont Help Homeowners?

Reducing mortgage balances is a risky idea that hasn’t been shown to keep borrowers who owe more than their property’s worth in their homes, according to Credit Suisse Group AG. (CSGN). Suspending accounting rules is a risky idea that hasn’t been... (Continue reading)

Tagged with:                                                                                                                                                                                                                                                     

Calling All Lawyers to 5,000,000 Crime Scenes

Calling All Lawyers to 5,000,000 Crime Scenes

Consider this... bankers say that they've been overwhelmed by the millions of homeowners unexpectedly seeking loan modifications and that's why applying for a loan modification has been such a nightmare. But, what about the number of foreclosures occurring in... (Continue reading)

MY DOERS DID IT AGAIN! But it’s not over yet. (And Holly Says Thank You!)

MY DOERS DID IT AGAIN!  But it's not over yet. (And Holly Says Thank You!)

I don't usually do this, but with Holly's permission, I've posted the three emails I received from her today. I get a lot of very flattering emails from homeowners across the country, and I appreciate them all very much...... (Continue reading)

DOER ALERT: Wells Fargo Bank How could you do this to a mother of four?

DOER ALERT: Wells Fargo Bank How could you do this to a mother of four?

Doug and Holly were excellent customers of your bank for over 16 years, and then they hit a rough patch. They needed the bank’s help… some guidance to get them through difficult times. You had a chance to... (Continue reading)

Should State AGs Settle with Bankers? Ohio’s Former AG Marc Dann Weighs In… A Mandelman Matters Podcast

Should State AGs Settle with Bankers? Ohio's Former AG Marc Dann Weighs In... A Mandelman Matters Podcast

I decided that the best person to ask about what's going on with these positively inane negotiations would be a former State Attorney General, so I called Ohio's former AG, Marc Dann. Marc knows these people, he understands the... (Continue reading)

HO, HO, HOmeless… A Sobering View of the Crisis Affecting Us All

HO, HO, HOmeless... A Sobering View of the Crisis Affecting Us All

And to the homeowners who feel ashamed… who have suffered the indignity of losing a home in silence… this wasn’t your fault. You didn’t break the bond market and send housing prices into a free fall. You didn’t... (Continue reading)

‘Twas the Night Before Christmas – 2011

'Twas the Night Before Christmas - 2011

And, since it is the holidays, it's also time for my annual year-in-review-in-rhyme, read to the famous holiday poem, 'Twas the Night Before Christmas. I started writing my 'Twas the Night year-in-review in 2007, or at least that's the year... (Continue reading)

Mandelman on The News Dissector Radio Show with Danny Schechter

Mandelman on The News Dissector Radio Show with Danny Schechter

I was a guest on the News Dissector radio show with Danny Schechter out of NYC. And I was joined by one of the Occupy Wall Street organizers and Capt. (Ret.) Ray Lewis. Check it out... given the... (Continue reading)

GUEST POST: Welcome to Freddie and Fannie’s Mortgage Shell Game, By Shawn T. Newman, J.D.

GUEST POST: Welcome to Freddie and Fannie's Mortgage Shell Game, By Shawn T. Newman, J.D.

Fannie and Freddie actually had a policy stating that they didn't want to receive the physical "notes?" This “policy” was created by Freddie and Fannie and clouds who actually has legal title to the property (i.e. mortgagee) and who... (Continue reading)

Author Michael Hudson Knows The Monster – A Mandelman Matters Podcast

Author Michael Hudson Knows The Monster - A Mandelman Matters Podcast

Here's something you can't do anywhere else... listen to author Michael Hudson not only talk with me about his book, but listen to how he applies his vast knowledge of the subject matter to what's going on today in our... (Continue reading)

Mandelman’s Monthly Museletter – Version 16.0

Mandelman's Monthly Museletter - Version 16.0

In this edition you'll find: 1. Robo-signing KILLS... 2. OCC proposes credit rating duties go to banks - A real conversation with a banker-friend of mine. 3. PMI Files Bankruptcy - Regulators step in and take over yet another mortgage... (Continue reading)

Tagged with:                                                                                                                                                                                                                                                                         

Unmistakably April Charney – A Mandelman Matters Podcast

Unmistakably April Charney - A Mandelman Matters Podcast

So, whether you're a homeowner fighting to keep your home... or a lawyer who represents homeowners in foreclosure, here's an opportunity to hear what April has to say about where we've been, where we are today, and where she thinks... (Continue reading)

Home sales contracts are falling apart 2X as fast as last year

Home sales contracts are falling apart 2X as fast as last year

Why? Well, according to the Realtors, it’s credit scores and appraisals coming in too low. Well shave my head and call me Baldy… what do you know about that? I certainly do declare, how can such a... (Continue reading)

Consumer Spending Up? Come on get happy…

Consumer Spending Up?  Come on get happy...

The bottom-line… much of what the government is reporting is nothing more than a mirage, with the rest either easily explained or not indicative of a growing economy, but rather a shrinking one. ... (Continue reading)

The World of the Investor with Attorney Talcott Franklin – A Mandelman Matters Podcast

The World of the Investor with Attorney Talcott Franklin - A Mandelman Matters Podcast

WHAT'S THE DEAL WITH INVESTORS? WHO ARE THEY? ARE THEY LOSING MONEY ON FORECLOSURES? What do the investors think about all these foreclosures? What's the relationship like between investors and servicers? Do investors want to modify loans? Do... (Continue reading)

THE CRAVEN, A Halloween Trick-or-Treat, With Apologies to Edgar Allen Poe

THE CRAVEN, A Halloween Trick-or-Treat, With Apologies to Edgar Allen Poe

Quoth the Craven, "Nevermore."... (Continue reading)

Mainstream media waking up to foreclosures being a big problem – And by big problem, I mean Geithner

Mainstream media waking up to foreclosures being a big problem - And by big problem, I mean Geithner

I’m not sure what to say to that, now that I’ve read Zach’s article and been shown more of what went on behind closed doors at the Obama White House. That mistakes were made is abundantly clear, but even... (Continue reading)

Obamas New Plan to Help Housing Isnt Worth Waiting For

Obamas New Plan to Help Housing Isnt Worth Waiting For

Even Edward J. DeMarco, acting director of the independent Federal Housing Finance Agency says his fix will be more of a tune-up than an overhaul, with reduced “frictions” and “enhancements.”... (Continue reading)

Optimism Lost, and by Optimism, I mean Ben Bernanke and the NYT

Optimism Lost, and by Optimism, I mean Ben Bernanke and the NYT

I think the nice folks at the New York Times have been spending too much time at Zabars? Because I’m pretty sure it’s not a confidence deficiency… I think it’s money we’re missing… as in income, and the lack... (Continue reading)

Are Homeowners Suffering from LAS Legal Abuse Syndrome?

Are Homeowners Suffering from LAS  Legal Abuse Syndrome?

Homeowners who have been forced into litigation in an attempt to save their homes, whether choosing to represent themselves, or hire an attorney, are battling against the largest financial institutions in the world in a court system that’s anything but... (Continue reading)

What Obama Should Have Done Ezra Klein, Part 2

What Obama Should Have Done  Ezra Klein, Part 2

I mean, here we had our “smart” president, and the first thing he does upon taking the reins of a nation in real economic peril, is throw together a spending bill whose numbers were pulled directly from the hindquarters of... (Continue reading)

CA’s Democrats in Congress Wake Up to Need to Address Foreclosures

CA's Democrats in Congress Wake Up to Need to Address Foreclosures

Apparently, this past week, the sound of the economy’s ship going down must have awoken the majority of House Democrats from California who then just jumped all over the Obama Administration for “failing to deliver on promises to curb foreclosures.”... (Continue reading)

Inside the Obama Administration with Ezra Klein and Mandelman

Inside the Obama Administration with Ezra Klein  and Mandelman

Klein seems to think that it’s important to understand how the administration got it so wrong… but I could care less. I think the salient point is that they knew they had gotten it wrong soon enough, and yet... (Continue reading)

The Recession is Over! Long Live the Recession!

The Recession is Over!  Long Live the Recession!

Look people… don’t get bummed out about this study, because a few years from now the NBER is probably going to refer to today as having been a peak. ... (Continue reading)

Only One Paycheck Away from Disaster… No kidding, really? Go figure.

Only One Paycheck Away from Disaster... No kidding, really?  Go figure.

Since then, we’ve been bubbled into financial ruin. We bought high and sold low, until our 401(k)s turned into 201(k)s, and then we doubled down on shares of Pets.com, never bothering to question how the company planned to deliver... (Continue reading)

Attitudes on Wall Street: Dear God, Give Me Strength

Attitudes on Wall Street: Dear God, Give Me Strength

Brancaccio asked about whether these Wall Street types recognized that bonuses are usually paid on profits, but that profits are "radically down," and Bethany replied that they don't. She said that there's a widespread belief that "it wasn't my fault,... (Continue reading)

Former Sub-Prime Lenders Are Back to Profit Off of the Housing Meltdown. Seriously?

Former Sub-Prime Lenders Are Back to Profit Off of the Housing Meltdown.  Seriously?

Basically, the architects of the sub-prime lending that caused the greatest financial crisis in the history of mankind, are now going to profit from the crisis they caused by buying and selling the very sub-prime loans they couldn’t sell before,... (Continue reading)

Mandelmans Monthly Museletter Version 15.0

Mandelmans Monthly Museletter  Version 15.0

1. Obama Administration Leaps Into Action on the Foreclosure Crisis. 2. Nation's poverty rate climbs to 15.1%, highest in 18 years. 3. Obama Says Government to Help More People Refinance… Again. 4. Mortgage Defaults Skyrocket 33% Nationwide in... (Continue reading)

Irresponsible Borrowers Documentary Trailer 2 – We Need Your Support

Irresponsible Borrowers Documentary Trailer 2 - We Need Your Support

Watch it. Link to it. Post it. Support it. Everyone who contributes will be listed in the credits and we plan to take the film all the way to the Academy Awards. If "Inside Job"... (Continue reading)

Mandelmans Reluctant Analysis of Obamas Speech The American Jobs Act

I didn’t want to do this. I was perfectly content ignoring his idiotic drivel as I’ve been doing pretty successfully for over a year. Or, maybe it’s because he hasn’t said anything in over a year, I’m not... (Continue reading)

$6 Billion in Reinsurance Kickbacks to the Banks – Un-reported, Un-Acted Upon & Un-believable

$6 Billion in Reinsurance Kickbacks to the Banks - Un-reported, Un-Acted Upon & Un-believable

Citigroup Inc, Wells Fargo & Co, SunTrust Bank Inc. and Countrywide allegedly required reinsurance partnerships on generous terms that violated the Real Estate Settlement Procedures Act, a 1974 law prohibiting abusive home sales practices.... (Continue reading)

GUEST POST: Prove Fannie & Freddie Innocent Before Suing the Banks – And Here Is How

GUEST POST: Prove Fannie & Freddie Innocent Before Suing the Banks - And Here Is How

For twelve years during and after the Savings & Loan crisis (1988-2000), I led the group of business analysts at PricewaterhouseCoopers that was responsible for monitoring Ginnie Mae’s $600 billion portfolio of mortgage-backed securities. During that period, I learned... (Continue reading)

Geithner is Allowing Banks to Recapitalize on Backs of Homeowners, or… Games Bankers Play

Geithner is Allowing Banks to Recapitalize on Backs of Homeowners, or... Games Bankers Play

I’ll say one thing for Secretary Geithner: He’s great at distraction. He goes, “Lookie over here.” Then he points his finger towards China… and a pigeon flies out of his ass. You really have to watch this... (Continue reading)

Mandelman on Arizona’s Channel 12 NBC News… And other news.

While in Phoenix filming a documentary on the foreclosure crisis, I got a call from NBC Channel 12 reporter Melissa Blasius who said she had heard I was in town and wanted to feature what I was doing in one... (Continue reading)

And the Beat Goes On Yeah, the Beat Goes On…

And the Beat Goes On Yeah, the Beat Goes On...

And call me crazy, but I found the news oddly reassuring… you know… like a peanut butter and jelly sandwich and an ice cold glass of milk. ... (Continue reading)

16 Banks Ordered to Compensate Victims of Improper Foreclosure

16 Banks Ordered to Compensate Victims of Improper Foreclosure

Guess what… the federal government has ordered 16 of the largest mortgage servicers to reimburse homeowners who they foreclosed on IMPROPERLY. Well, isn’t that nice? What a lovely surprise. ... (Continue reading)

HAMP, HARP, HOP, HOOP… Like Watching Someone Spend $10 Trying to Fly to the Moon

HAMP, HARP, HOP, HOOP... Like Watching Someone Spend $10 Trying to Fly to the Moon

Boy, that sure is a relief, wouldn’t you say? Because, see… I had been under the impression that he had actually been trying to do something big and important and was putting his best foot forward, as it were.... (Continue reading)

Mandelmans Monthly Museletter Version 13.0

Mandelmans Monthly Museletter  Version 13.0

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!

Fannie Responds to Hawaii's New Foreclosure Law - Says... WE'RE OUT!

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)

Please Call the White House Today for Elizabeth Warren… Here’s the Number and a Script. Please Call.

Please Call the White House Today for Elizabeth Warren... Here's the Number and a Script. Please Call.

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?

Bank of America forecloses on un-mortgaged Florida home that's hardly news. Is EVERYONE missing the point here?

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…

Dear Banking & Government People Who Are Reading This...

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.

Earth to Bankers, Earth to Bankers... Your Planet is Dying, You Must Evacuate, It's Time to Come Home.

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!

MAX GARDNER from the Front Lines of the Battle... A Mandelman Matters PODCAST!

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)

Hey Everybody Its Pretend Youre Surprised About the Economy Day!

Hey Everybody Its Pretend Youre Surprised About the Economy Day!

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)

Todays New But, You Didnt Make Your Payment Exemption to the Law

Todays New But, You Didnt Make Your Payment Exemption to the Law

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)

Elizabeth Warren Battles With GOP Over CFPB

Elizabeth Warren Battles With GOP Over CFPB

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)

If You Think the Meltdown Was the Fault of Homeowners, Think Again…

If You Think the Meltdown Was the Fault of Homeowners, Think Again...

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)

Breaking Down the Real Cause of the Foreclosure Crises

Breaking Down the Real Cause of the Foreclosure Crises

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)

The Care Bair – FDIC’s Sheila Bair Wants Principal Reductions from Banks With Loss Sharing Agreements

 The Care Bair - FDIC's Sheila Bair Wants Principal Reductions from Banks With Loss Sharing Agreements

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?

Is Bank of America Worth $200 Billion?

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)

The Most Damaging Propaganda Campaign in History. And its Aimed at You and Me

The Most Damaging Propaganda Campaign in History. And its Aimed at You and Me

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)

Mandelman Talks with Ohio’s Ex-Attorney General About Foreclosure Crisis

Mandelman Talks with Ohio's Ex-Attorney General About Foreclosure Crisis

Mandelman talks with Ohio's ex-Attorney General about foreclosure crisis and government's inadequate response. ... (Continue reading)

GOT ONE! Jury Convicts Taylor Beans CEO Farkas of Bank, Wire, Securities Fraud and Conspiracy

GOT ONE!  Jury Convicts Taylor Beans CEO Farkas of Bank, Wire, Securities Fraud and Conspiracy

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

FEDS Announce Enforcement Actions Against 14 Servicers, LPS and MERS Hot Towels in Washrooms Threatened Once Again

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)

The Psychology and Politics of Foreclosure

The Psychology and Politics of Foreclosure

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)


Page Rank