Posts Tagged ‘OCC’

California No Longer Foreclosure Kingpin? Playing with the data… again.

California No Longer Foreclosure Kingpin? Playing with the data... again.

The headline in the OC Register about California no longer being the foreclosure kingpin is just flat out misleading.... (Continue reading)

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)

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)

OCC Raises the Stakes to Lure Homeowners? Right?

OCC Raises the Stakes to Lure Homeowners?  Right?

Anyway, so that's the deal... $500 to $125,000... PLUS EQUITY! It makes it sound like the worst you can do, assuming you get past the qualifying round, is the $500, right? Five hundred's not bad, I suppose. ... (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)

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)

GAO Study Published May 5th Discovers Illegal Foreclosures

GAO Study Published May 5th Discovers Illegal Foreclosures

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)

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)

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)

Federal Regulators to Bring Enforcement Actions Against Banks… May Get Rid of Hot Towels in Washroom

Federal Regulators to Bring Enforcement Actions Against Banks... May Get Rid of Hot Towels in Washroom

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)

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)

Foreclosures Increase 11.2% in Third Quarter over Second Quarter of 2010. And that means…

Foreclosures Increase 11.2% in Third Quarter over Second Quarter of 2010. And that means...

Oh joy! Foreclosures should be peaking next year! Well there’s something to look forward to, wouldn’t you say? Why will they be peaking next year, you may wonder? Well, I’m forecasting they based on the current... (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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We INTERRUPT this FORECLOSURE CRISIS for a COMMERCIAL Message

We INTERRUPT this FORECLOSURE CRISIS for a COMMERCIAL Message

Okay, so does anybody have any questions about what’s going on here? Commercial real estate, a couple of trillion worth, is now circling the drain and soon we’re all going to hear that loud flushing sound we’ve all come... (Continue reading)

BREAKING NEWS: Latest U.S. Teaseury Dept. Study Shows 3.6 Billion Homeowners Have Been Offered Loan Modifications

BREAKING NEWS:  Latest U.S. Teaseury Dept. Study Shows 3.6 Billion Homeowners Have Been Offered Loan Modifications

Housing counselors and lending experts say that HAMP is having a meaningful impact on the global foreclosure rate, and Lucely Figures, a housing economist at Muddy’s expects at least another 3 billion loan modifications next year. ... (Continue reading)

Cuomo v. Clearing House: The Most Important Supreme Court Decision for Homeowners and Our Economy In Decades

Cuomo v. Clearing House: The Most Important Supreme Court Decision for Homeowners and Our Economy In Decades

So far this year, while most Americans have seemingly been preoccupied with other things, the banking lobby has managed to have its way with every single piece of legislation our legislature has considered or ultimately passed. ... (Continue reading)


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