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When Auditing Foreclosures, the OCC’s Definition of the Word “Thorough” is...
The Consent Orders issued by federal banking regulators a few weeks back said that the country’s largest bank-servicers had to conduct “a thorough independent review” of their foreclosures. So, on...
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And the Beat Goes On… Yeah, the Beat Goes On…
You know, both Reuters and AP have reported that even though the mortgage servicers promised to stop the “robo-signing” of documents crucial to the foreclosure process, the banksters have actually...
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Feds to AGs: Can’t Touch This
As this NYT story notes, the administration has been putting pressure on the AGs, particularly NY AG Schneiderman, for several weeks now, urging them to fall in line with the administration's...
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OCC Servicing Settlement–Will Homeowners Get Screwed (Again)?
The WSJ reports on the latest development in the implementation of the OCC's mortgage servicing fraud consent orders. It seems that the banks will have OCC approved "independent" foreclosure review...
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Robosigning 2.0: Mortgage Foreclosure File Reviewers
Do you have what it takes to be a Mortgage Foreclosure File Reviewer Level 2? An intrepid researcher forwarded to me a job ad for a mortgage foreclosure reviewer who will be reviewing bank...
View Article4.5 Million Fraudclosed Borrowers May be Eligible for Reviews
“The OCC, along with the Federal Reserve, will oversee the reviews. Whether homeowners were wronged will be decided by independent consultants hired by the servicers but approved by regulators.” ~ 4.5...
View ArticleOCC Releases Status Report on Fixing Deficient Fraudclosure Practices
OCC Releases Status Report on Fixing Deficient Foreclosure Practices WASHINGTON — The Office of the Comptroller of the Currency (OCC) issued a report today on the actions by 12 national bank and...
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More Rot in the OCC Foreclosure Reviews
Michael Olenick, Gretchen Morgenson, and Yves Smith have all written pretty damning things about the foreclosure reviews persuant to the OCC consent orders with major mortgage servicers. (For my own...
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Can We All at Least Agree on This?
Oh, I know… it’s such a complex problem we’re having lately. Clearly, it’s far too complicated a problem for any normal mortal brain to grasp…. there seems no hope that we shall ever be able to...
View ArticleFraud Digest | Putting an End to MERS
Putting an End to MERS What has changed in the world of mortgage assignments since the FDIC/OCC/Treasury Consent Orders? When is a mortgage assignment actually an Affidavit posing as a mortgage...
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Insider Says Wells Fargo’s Independent Foreclosure Review for OCC is “a Sham”
I got an email the other night from one of my readers. It said… “I was hired as one of those “Independent File Review Specialist” at a company called Promontory working on Wells Fargo Bank. I...
View ArticleFederal Reserve Releases Action Plans/Engagement Letters Per Consent Orders
Federal Reserve releases action plans/engagement letters per consent orders For immediate release The Federal Reserve Board on Monday released action plans for supervised financial institutions to...
View ArticleFederal Reserve Board releases action plans for three supervised financial...
The Federal Reserve also released the engagement letter between HSBC and the independent consultant HSBC retained to review foreclosures Release Date: March 8, 2012 For immediate release The Federal...
View ArticleFederal Reserve Seeks to Fine HSBC, SunTrust, MetLife, U.S. Bancorp, PNC,...
Federal Reserve Seeks to Fine Firms Over Foreclosures Federal regulators are poised to crack down on eight financial firms that are not part of the recent government settlement over home foreclosure...
View ArticleThe $25B fraudclosure settlement has been approved by U.S. District Judge...
Nick Timiraos @NickTimiraos of the WSJ via twitter The $25B foreclosure settlement has been approved by U.S. District Judge Rosemary Collyer. Also Nothing from the consent judgment entered into court...
View ArticleForeclosure Fraud Settlement Rubber-Stamped by U.S. District Judge Rosemary...
David Dayen — Foreclosure Fraud Settlement Rubber-Stamped by a Federal Judge A federal judge in DC swiftly approved the foreclosure fraud settlement yesterday. Actually four of the consent orders with...
View ArticleAbigail Field | Hiding the Enforcement Fraud At the Heart of the Mortgage...
Hiding the Enforcement Fraud At the Heart of the Mortgage Settlement On Thursday, April 5th U.S. District Court Judge Rosemary M. Collyer announced she had decided to sign off on the ”$25 billion”...
View ArticleFraudclosure | Fed Releases Another Round of Docs Related to Servicing...
Press Release Release Date: May 24, 2012 For immediate release The Federal Reserve Board on Thursday released action plans for Citigroup and HSBC Finance Corporation to correct deficiencies in...
View ArticleHousingWire | Foreclosure Fraud Combatant Lisa Epstein Eyes Clerk of Court...
Foreclosure fraud combatant eyes clerk of court role in Florida By Jon Prior Florida has been ground zero for foreclosure fraud, but even with multibillion-dollar settlements and federal consent...
View ArticleOCC Releases Status Report on Actions to Correct Deficient Foreclosure Processes
OCC Releases Status Report on Actions to Correct Deficient Foreclosure Processes WASHINGTON — The Office of the Comptroller of the Currency today released its second interim report on the status of the...
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