Posts Tagged ‘GMAC’

Meet Thomas Cox, Esquire. A National Hero in Foreclosure Defense

Meet Thomas Cox, Esquire. A National Hero in Foreclosure Defense

Portland Maine attorney Thomas Cox is a national hero of the foreclosure crisis. Frankly, I thought everyone already knew that, but apparently not. So, if you aren't already familiar with what Tom has done and continues to do... (Continue reading)

It’s Gretchen Morgenson from The New York Times – A Mandelman Matters Podcast

It's Gretchen Morgenson from The New York Times - A Mandelman Matters Podcast

Lately, Gretchen has been really going strong on foreclosure-related topics... the fraudulent document scandal, the Fannie report, DocX, the AG settlement, so I thought now would be a good time to have her on a Mandelman Matters Podcast.... (Continue reading)

GUEST POST: Dear Colleagues, by Thomas A. Cox, Esq.

GUEST POST: Dear Colleagues, by Thomas A. Cox, Esq.

This letter was written today by attorney Thomas Cox of Portland Maine, and posted on several legal listservs. It was totally unexpected and more than moving. Tom is the lawyer whose work and depositions of GMAC's Jeffrey Stephan... (Continue reading)

MERS Has Trouble, Right There in Ohio, With a Capital ‘T’…

MERS Has Trouble, Right There in Ohio, With a Capital ‘T’…

“This case asks court very directly whether the MERS system complies with state law. If it doesn’t then I’m going to go back and reopen all of the foreclosures alleging that the transfers were invalid,” says Dann without hesitation. ... (Continue reading)

The Birth of Robo-Signing…

The Birth of Robo-Signing...

My office will investigate whether other banks engaged in such practices because these failings involve much more than mere technicalities, as GMAC/Ally has claimed. As a consumer advocate and attorney, I am dismayed and shocked that the bank blatantly skirted... (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)

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)

SB 729 Fails – California Homeowners Get Banked but not Kissed Once Again

SB 729 Fails - California Homeowners Get Banked but not Kissed Once Again

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)

Ex-Asst. Treasury Secretary Herb Allison Back at Beautiful Connecticut Home

Ex-Asst. Treasury Secretary Herb Allison Back at Beautiful Connecticut Home

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)

Guest Post: Principal Reduction Modification Math, by Rick Rogers, JD/MBA

Guest Post: Principal Reduction Modification Math, by Rick Rogers, JD/MBA

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)

CalHFA’s $2 Billion Home Rescue Program… Here’s How Stupid They Think We Are.

CalHFA's $2 Billion Home Rescue Program... Here's How Stupid They Think We Are.

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)

Tomorrow, February 3rd, is Call Your Attorney General Day to Get Tough on Foreclosure Fraud!

Tomorrow, February 3rd, is Call Your Attorney General Day to Get Tough on Foreclosure Fraud!

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)

California Appeals Court Rules Homeowners Can Sue Banks for Fraud Over Broken Loan Modification Promises

California Appeals Court Rules Homeowners Can Sue Banks for Fraud Over Broken Loan Modification Promises

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)

Mass Hysteria – The Iabanez Decision by the Massachusetts Supreme Court

Mass Hysteria – The Iabanez Decision by the Massachusetts Supreme Court

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)

Florida AG Pam Bondi Presentation on Foreclosure Fraud

Florida AG Pam Bondi Presentation on Foreclosure Fraud

And forgetting the homeowners for a moment, if these financial institutions are capable of this type of fraud, how can we or others around the world ever trust them. ... (Continue reading)

SIGN THIS! StopServicerScams.com Petition Will Go to Geithner, Bair, Bernanke, and Walsh!

SIGN THIS! StopServicerScams.com Petition Will Go to Geithner, Bair, Bernanke, and Walsh!

PLEASE SIGN THIS yourself... but also could you please put in the extra effort and forward it to everyone you know that will also want to sign it? PLEASE? Post it on your Facebook page, your LinkedIn page...... (Continue reading)

Geithner Won’t Quit in Battle Over Elizabeth Warren – WE NEED YOU NOW!

Geithner Won't Quit in Battle Over Elizabeth Warren - WE NEED YOU NOW!

I didn’t realize it was liberal to want to see someone put a stop to the kind of abusive lending behavior that has stripped the middle class of just about everything they had. I guess conservatives are now the... (Continue reading)

Two Years Waiting for the New York Times to Write About Lawyers & Loan Modifications, and they Still GET IT WRONG.

Two Years Waiting for the New York Times to Write About Lawyers & Loan Modifications, and  they Still GET IT WRONG.

Can you hear me now? Is that doing it for you? The facts about California attorneys who offer to assist homeowners with loan modifications as presented in the New York Times story are just plain WRONG. ... (Continue reading)

The Kings and Queens Loan Mod Scammers: Arizona & Nevada Sue Bank of America Over Loan Modification Program

The Kings and Queens Loan Mod Scammers: Arizona & Nevada Sue Bank of America Over Loan Modification Program

So, when the opportunity came up to investigate the banks as a result of things like robo-signers fraudulently signing affidavits in order to foreclose on people’s homes, came to light, Terry Goddard was one of the state attorneys general to... (Continue reading)

How to Tell Legitimate Loan Modification Firm from an Illegal Operation or Scam… The FTC’s New Bright Line MARS Rule

 How to Tell Legitimate Loan Modification Firm from an Illegal Operation or Scam... The FTC’s New Bright Line MARS Rule

The facts of the matter today as related to the foreclosure crisis and loan modifications, however, could not be considered positive, I’m afraid. Help does not appear to be on the way, or on the horizon. As inconceivable... (Continue reading)

Howie Hubler’s Loan Value Group… Proof That Wall Street Has No Idea What’s Happening on Main Street

Howie Hubler's Loan Value Group... Proof That Wall Street Has No Idea What's Happening on Main Street

Want to know who Howie Hubler is? Did you read Michael Lewis' book, "The Big Short," because if you did, you might remember Lewis mentioning a bond trader at Morgan Stanley that lost the investment bank $9 BILLION... more... (Continue reading)

Foreclosure Fraud: Tough Issues With Which to Grapple

Foreclosure Fraud: Tough Issues With Which to Grapple

Just in case any children are reading this, and one never knows about such things, forgery and perjury are never found on the right path to follow when attempting to cover up, flagrant and immeasurable fraud and massive malfeasance, boys... (Continue reading)

THE SiGNiNG… Or, Pardon me, Mr. Banker, but your REMIC is showing.

THE SiGNiNG... Or, Pardon me, Mr. Banker, but your REMIC is showing.

So, why didn’t the bankers assign the loans to the trusts? I don’t know… for sure. But I’m going to go out on a limb here and tell you it’s because they wanted to borrow against them, and... (Continue reading)

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House Dems Tell Justice Dept, the Fed, and Comptroller of Currency: “It is time that are held accountable for their practices.”

House Dems Tell Justice Dept, the Fed, and Comptroller of Currency: “It is time that are held accountable for their practices.”

With the election now less than a month away, House Democrats have requested a formal investigation into the highly questionable foreclosure practices by the banks and servicers. According to the Times story, Speaker Pelosi said that “the excuses we... (Continue reading)

GMAC Halts Evictions Related to Foreclosures in 23 States When News of Forged and Robo-Signed Documents Comes Out

GMAC Halts Evictions Related to Foreclosures in 23 States When News of Forged and Robo-Signed Documents Comes Out

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)

INSIDE CHASE and the Perfect Foreclosure

INSIDE CHASE and the Perfect Foreclosure

“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)

GM, GMAC & the US Government… Have You No Shame?

GM, GMAC & the US Government... Have You No Shame?

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)

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Optimism is Hard Thing of Which to Let Go – The Car Sales Recovery Surprise

Optimism is Hard Thing of Which to Let Go – The Car Sales Recovery Surprise

Tell you what WSJ people… next time feel free to call me on stuff like that. I don’t depend on automakers breaking things out, I actually have functioning eyes and ears and I use them pretty much all the... (Continue reading)

Investor Tired of Servicers Not Modifying Take Action

Investor Tired of Servicers Not Modifying Take Action

Well, as it turns out, one investor, Impac Funding/Impac Holdings, has run a calculator on this and discovered that you’ve been right all along. They would in fact be better off modifying… but they can’t seem to get servicers... (Continue reading)

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Another Victim of the Foreclosure Crisis

Today, his mother said: "Now the bank will get what they wanted... his house."... (Continue reading)

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