The whistleblower who revealed the robo-signing scandal recently discovered that Bank of America sued itself for foreclosure. While this may seem like a joke it actually demonstrates how horribly large banks have mishandled foreclosure documents.
New Orleans, LA- One Louisiana judge is fed up with the way Wells Fargo handled one man’s mortgage and fined the bank $3.1 million, the largest single settlement for foreclosure misdeeds.
New York, NY- The Federal Reserve outlined the rules banks must follow in order to rent out foreclosed homes in an effort to aid recovery in the housing market.
New York, NY- The Federal Reserve said Tuesday it would fine investment bank Morgan Stanley for “a pattern of misconduct and negligence” in the way the bank handled foreclosures.
Washington, D.C. - Last week, a senior official for the Federal Reserve System stated that eight small mortgage lenders should be fined for their mishandling of mortgage documents, which include fraudulent signatures and sloppy paperwork.
Los Angeles, CA- Foreclosures have been a problem for the nation’s middle and working class since the housing market crashed, but they aren’t the only demographic that faces the possibility of losing their homes. Even the rich and famous have to ...
Palm Beach, FL- The past few years have been chaotic for attorney Lynn Szymoniak, who uncovered the “robo-signing” scandal and exposed the banks for this practice while combating foreclosure of her own home.
New York, NY- Attorney General Eric Schniederman announced today that $15 million from the national foreclosure settlement will go to foreclosure relief programs for New York State residents.
New York, NY- Bank of America has announced a pilot program that will allow defaulted homeowners the opportunity to rent their home as an alternative to foreclosure.
New York, NY- The Stephen J. Baum law firm, who became known for mocking the homeless at Halloween costume party, has settled a $4 million settlement with the state over foreclosure processing abuses.
Philadelphia, PA- Anthony J. DeMarco, III, pleaded guilty to multiple counts of conspiracy and fraud resulting from a $30 million mortgage fraud scheme.
Washington, D.C. – Foreclosure rates across the decreased 8 percent in February, but RealtyTrac warns that banks and mortgage servicers are beginning to clear their backlog of troubled homes, which will soon flood the market.
A Florida woman, Lynn Szymoniak, who is a foreclosure attorney and a fraud expert, discovered that when she was served foreclosure documents she realized the documents were false and blew the whistle on mortgage servicers. Now, she has been award ...
A new report by the Housing and Urban Development agency released Tuesday says that banks impeded federal investigations and supervisors directed employees to carry out fraudulent practices.
Bank of America has signed a side deal with the federal government to write down mortgages for 200,000 homeowners. The news of the side deal was first reported by The Wall Street Journal. Under this agreement B of A, will write down the principle ...
Of all the Wall Street Banks accused of fraud and abuses during the housing crisis, Wells Fargo is considered one of the worst perpetrators of fraudulent foreclosure practices such as robo-signing and producing fraudulent paperwork.
The thousands of homes that were sitting on the foreclosure pipeline have now started moving through the system as banks have mostly resolved the robo-signing issues. A new report from Loan Processing Services showed that foreclosure starts spike ...
Las Vegas, NV- After a person has received a default notice they often retain a foreclosure attorney and have mediation sessions with their lenders to come up with an agreeable solution. Nevada law dictates that the lender must have all of the fo ...
The House bill would allow a mortgage processor to move more quickly on a defaulted mortgage loan if the property has been abandoned or a homeowner does not have a legitimate defense. Under this law homeowners have only 20 days to retain a forecl ...
Just because a person makes $80 million playing pro-football doesn't mean they are immune to the current foreclosure crisis. Terrell Owens, star wide-receiver, will lose two of his Dallas condominiums to foreclosure, according to RealtyTrac, an a ...