Tag Archive

Schneiderman alleges mortgage fraud in suit against banks

Published on February 7, 2012 By admin

The following article is brought to you by Cara Matthews at Politics On The Hudson Attorney General Eric Schneiderman filed a lawsuit today against Bank of America, J.P. Morgan Chase Bank, Wells Fargo and Virginia-based MERSCORP Inc. and its subsidiary, Mortgage Electronic Registration Systems Inc., charging that a private electronic-mortgage registry system (MERS) they developed […]

U.S. Regulators Target Loan Servicers to Fix Foreclosures

Published on January 29, 2011 By admin

The following article is brought to you by Prashant Gopal and Lorraine Woellert at Bloomberg. U.S. mortgage servicers face a new era of tighter oversight as regulators seek to cut the number of botched foreclosures and increase loan modifications for struggling borrowers. The industry, which oversees $10.6 trillion in loans, has been overwhelmed by more […]

Virginia Legislators Looking To Curb Foreclosures

Published on January 24, 2011 By admin

The following article is brought to you by Wesley P. Hester at Richmond Times Dispatch. Susan Brooking’s husband, Robert, a victim of the recession, lost his job in 2008. With two young children to care for, the couple applied for modifications to the loan for their Greene County home. After a long-fought battle, they were […]

Time to Audit the Remic Trusts

Published on December 23, 2010 By admin

The following article is brought to you by L. Randall Wray at Benzinga.com. As I have written, when we peel back the layers of the real estate “onion” what we find is layer after layer of fraud. From the mortgage brokers to the appraisers and lenders, from the securitizers to the ratings agencies and accountants, […]

Fulton Class Action Challenges Foreclosures involving MERS

Published on December 7, 2010 By admin

The following article is brought to you by Sheryl Rosenblum & Matthew Cardinale at PoliticalAffairs.Net. On October 15, 2010, a class action lawsuit was filed on behalf of foreclosed homeowners in Fulton County who had their mortgage title transferred to MERS, an entity that is alleged to routinely engage in the fraudulent recording of deeds, […]