Wells Fargo, N.A. v Mcnee :: Another win for the Law Offices of Robert E. Brown!!

The Law Offices of Robert E. Brown, P.C.

Another win for the Law Offices of Robert E. Brown, P.C.! As real estate has the saying - location, location, location. Foreclosure Defense should have Standing, Standing, Standing! This proves once again that lenders will go to any length to foreclose.

Wells Fargo Bank, N.A. v McNee
Full decision below:

Wells Fargo Bank, N.a. v McNee w

Urban Institute: Foreclosure backlog to 'take decades to complete'

There's a good chance there will be parts of the country that may never recover. My belief is that all of the government programs put into place simply created a false bottom (not to mention they were a huge failure). We need a rock solid bottom in order to be able to move forward. As I've stated before the Fed simply should have told all the lenders in 2008 that they (the Fed) would purchase any defaulted loan at .50 cents on the dollar. Sure, at the time many of the banks would have told the Fed "thanks but no thanks". But as they dug themselves deeper (and with no bailout money to save them) they would have changed their tune. Then the Fed could have modified the loans any way they liked. Yes, there would have been multiple banks going under. But their assets most certainly would have been picked up by stronger banks.

http://www.housingwire.com/2011/12/29/urban-institute-foreclosure-backlog-to-take-decades-to-complete

Independent Foreclosure Review Fail | NY Times – Foreclosure Relief? Don’t Hold Your Breath

Independent. I'm not so certain bankers or our government for that matter truly understand the meaning of the word "Independent". How can one (auditor/reviewer) provide an "independent" review of another party's (banks)documents when there is a previous relationship between the two parties? Just asking!

http://4closurefraud.org/2011/12/28/independent-foreclosure-review-fail-ny-times-foreclosure-relief-dont-hold-your-breath/

The Law Office of Robert E. Brown is featured on CNN Money

The Law Offices of Robert E. Brown, P.C.

Foreclosure free ride: 3 years, no payments

NEW YORK (CNNMoney) -- Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight.

Click Here: CNN Money

Lawmaker Presses for Criminal Investigation of GSEs

The fact that BOTH Fannie and Freddie entered into non-prosecution agreements with the SEC and agreed to cooperate in the litigation against their former executives should have told us this wasn't going anywhere anyway. MORE politicians need to step up to the plate like Senator Scott Brown. Hopefully, one day soon we'll see handcuffs on these bankers.

http://www.dsnews.com/articles/lawmaker-presses-for-criminal-investigation-of-gses-2011-12-23

Foreclosure dismissed-- Frivolous conduct by HSBC

The Law Offices of Robert E. Brown, P.C.

Foreclosure dismissed on basis of Frivolous conduct by HSBC.

Decision can be found here: HSBC Bank USA, N.A. v Taher

Silverberg Decision Hammers Elpiniki

The Law Offices of Robert E. Brown, P.C.

Silverberg decision hammers Elpiniki

Click here for Decision

Another win for The Law Offices of Robert E. Brown, P.C.

The Law Offices of Robert E. Brown, P.C.

This was a big win for us. Bank of New York was told over a year ago that they must comply with the court's OCA Affirmation. Last year Chief Judge Jonathan Lippman apparently had enough with repeated attempts by lenders to put onto the court documents that let's say were "not up to par". This affirmantion requirement bascially puts the bank and their attorney on the hot seat. They in effect are stating that the file has been reviewed and info in the file is correct.

See attached decision:

TROPIANO

Expunged from Public Record: Evidence of Fraud Warning to Future Buyers and Real Estate Researches

What the hell is going on in Florida? How does an affidavit just "disappear". Unbelievable!!

http://4closurefraud.org/2011/12/25/cover-up-whistleblowers-affidavit-exposing-mortgage-and-foreclosure-fraud-on-195-grove-city-terrace-unit-3-disappears-from-public-records/

Fannie Builds Servicing Business via Secret Contracts

And so the back-door deals of Washington continue. . . . . .

http://www.americanbanker.com/issues/176_243/fannie-mae-secretly-become-mortgage-servicing-giant-1044951-1.html?ET=americanbanker:e9198:1903271a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=AB_top10_122311

Capital One Financial | More Illegal Conduct By Banks Excused?

If you had a bankruptcy that discharged your credit card debt and the bank is still trying to collect from you please call our office immediately for a FREE consultation. Since your debts have been discharged they can not try to collect from you.

http://4closurefraud.org/2011/12/23/capital-one-financial-more-illegal-conduct-by-banks-excused/

Petition to Enforce | PEOPLE OF THE STATE OF CALIFORNIA, KAMALA HARRIS v FEDERAL HOME LOAN MORTGAGE CORPORATION

There are many reasons why they refuse to cooperate. The first two reasons that come to mind are fraud and (bungling) bureaucracy.

http://4closurefraud.org/2011/12/23/petition-to-enforce-people-of-the-state-of-california-kamala-harris-v-federal-home-loan-mortgage-corporation/

6 Things Renters Need to Know About Eviction from Foreclosed Properties

These are the things that home owners need to know as well. If you're not certain how to protect yourself you need to seek out an attorney familiar with foreclosures and the law pertaining to tenancy. Should you have any questions please feel free to call our office at 718-979-9779

http://4closurefraud.org/2011/12/23/5-things-renters-need-to-know-about-eviction-from-foreclosed-properties/

Special Report: The watchdogs that didn't bark

Great article. Be sure to read to the end. It does seem as if Washington (Eric Holder)is deathly afraid of both the banks and Wall Street. If I didn't know any better you'd think Eric Holder is afraid of getting beat up (bloody nose anyone?)So what gives??? What's with all of the settlement attempts? Seems to me there are plenty of fraud cases to go around to keep all prosecutors busy for a very long time. I can't help but think about the discussion I recently had with Neil Barofsky
(SIGTARP). He simply put it this way "to collect via settlement is better politically". Again, how sick is that? Homeowners get screwed over by their brokers, lenders and now by those who were supposed to protect them from the wolves.


http://www.reuters.com/article/2011/12/22/us-foreclosures-idUSTRE7BL0MC20111222

For Every Two Homes for Sale, There's One in the Shadows

Shadow inventory. A few years ago it seemed the banks equated those words to the dreaded boogeyman. I believe the numbers stated here are on the low side. I think this is much bigger than any of the banks want to admit. Internally this is slowly crushing them. We still have another 5 years in this foreclosure crisis. So add that potential black cloud to these current numbers and you'll see the banks are in very bad position.

http://www.dsnews.com/articles/for-every-two-homes-sale-there-is-one-in-shadows-2011-12-21

Fannie Mae, Freddie Mac Sued by California Attorney General

Both should have been brought to the dumpster a long time ago. Bungling, bureaucracy and losing money seems to be their expertise.

http://www.bloomberg.com/news/2011-12-20/fannie-mae-freddie-mac-sued-by-california-attorney-general.html

BofA to pay $335 million in fair-lending settlement

Extracting these types of awards are great. These home owners absolutely deserve it. As usual though there are no indictments! Indictments leading to long prison sentences is what's needed.

http://www.housingwire.com/2011/12/21/bofa-to-pay-335-million-in-fair-lending-settlement

Principal reduction outpaces short sales under HAMP

The Law Offices of Robert E. Brown, P.C.

A borrower is more likely to get a principal reduction than a short sale or deed-in-lieu of foreclosure under the Home Affordable Modification Program.

The Full Story: housingwire.com

NYSC Judge Hammers Fremont, MERS, Pillar, Steven J. Baum PC, U.S. Bank “ASMT from MERS is defective, as it had no right, authority... .. ..

Full Story: stopforeclosurefraud.org

U.S Bank National Association v. Alan Bressler

U.S. Bank National Association, AS TRUSTEE FOR SG MORTGAGE SECURITIES ASSET BACKED CERTIFICATES, SERIES 2006-FRE2, Plaintiff,



against



Alan Bressler, CCU LLC, MERS, INC. ET AL, Defendants.


Full Decision can be found here: nycourts.gov


This case also calls Steven J. Baum's master "Robo-Signer" Elpiniki Bechakas into question again. When is somebody going to depose her and make an example of this behavior!

Too Big to Stop: Why Big Banks Keep Getting Away With Breaking the Law

Too big for prison as well??? I don't think so. This needs to stop being viewed as political. These are criminal actions. And as such they need to be prosecuted. Plain and simple.

http://stopforeclosurefraud.com/2011/12/15/too-big-to-stop-why-big-banks-keep-getting-away-with-breaking-the-law/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ForeclosureFraudByDinsfla+%28FORECLOSURE+FRAUD+%7C+by+DinSFLA%29

SEC CHARGES FORMER FANNIE MAE AND FREDDIE MAC EXECUTIVES WITH SECURITIES FRAUD

WOW!! Holding people accountable for their actions? What a great idea. Why didn't I think of that?

http://4closurefraud.org/2011/12/16/sec-charges-former-fannie-mae-and-freddie-mac-executives-with-securities-fraud/

U.S. Senator Maria Cantwell - Cantwell to Justice Department: Fully Investigate Fraudulent Foreclosures before Bank Settlement

I wonder why other politicians haven't written with similar demands? Hmmmmmm.......

http://4closurefraud.org/2011/12/15/holy-fraudclosure-cantwell-to-justice-department-fully-investigate-fraudulent-foreclosures-before-bank-settlement/

Nevada AG Files Suit Against Three More Notaries

Ok, so going after those on the bottom is a good start. May be some good information will pass along to the prosecutors and they in turn can throw the bigger fish under the bus. Great, now we just need a driver for the bus. Any volunteers????

http://www.dsnews.com/articles/print-view/nevada-ag-files-suit-against-three-more-notaries-2011-12-15

'Conflicted robosigner' equals no foreclosure: NY state judge

Thank God for Judge Schack! He is truly a borrower's best friend. You would think the banks would know by now this man means business! But apparently the banks still believe they do not need to comply with the court's directives. Hopefully, they'll continue to disobey.

http://newsandinsight.thomsonreuters.com/Legal/News/2011/12_-_December/_Conflicted_robosigner__equals_no_foreclosure__NY_state_judge/

Neil Barofsky - SIGTARP

I had the pleasure of attending a meeting last night with a panel which included Neil Barofsky. Neil was the first Special Inspector General of the Troubled Asset Relief Program ("SIGTARP").

Many subjects were brought up during the discussion. The two main points though were the failure of HAMP and banker prosecutions. There wasn't one person in the room who seemed to believe HAMP ever had a chance to succeed. Which was pretty sad considering how much money the Fed pumped into this program. At the end of the session I had the opportunity to speak with Neil. Since he was a former federal prosecutor in the U.S. Attorney’s Office for the Southern District of New York (and Senior Trial Counsel who headed the Mortgage Fraud Group) I figured he'd be pretty interested in hearing what we do. Well I wasn't surprised. As soon as I mentioned "mortgage fraud, auditing and prosecutions" I had his attention. Our conversation quickly gravitated to the lack of prosecutions. In a nut shell he stated that it was "easier" to "settle". "Settle" like what the other AGs are doing as opposed to prosecuting individual cases. How sad is that? Because certain people don't want to do their jobs they "settle". AGAIN, WHERE'S THE DETERRENT?

Fed: House Flipping Led to Deeper Housing Collapse

I'm afraid this goes much deeper than "flippers". I believe one of the core reasons for this entire mess is poor underwriting. And the reason for poor underwriting is that lenders were no longer holding the paper they originated. They became originating machines. Why would you care how a loan performed if you're not going to be responsible for taking the loss? The simple answer is you wouldn't care.

http://www.dsnews.com/articles/fed-house-flipping-led-to-deeper-housing-collapse-2011-12-12

FDIC reaches $64M settlement in WaMu case

Ok, THIS is what I mean when I say "no deterrent". The FDIC was looking for $900,000,000 and they settled for $64,000,000. Guess what the bankers get to pay? Approximately $400,000 each! Yes, you read that right. Wait, it gets better. Ready for this? The remainder of the $64,000,000 will be paid by liability insurance!!!!! So let me get this straight....you steer your ship into the largest bank collapse in U.S. history while getting paid millions of dollars a year. So, why would you do anything differently the second time around??

http://www.upi.com/Business_News/2011/12/13/FDIC-reaches-64M-settlement-in-WaMu-case/UPI-60341323832507/?spt=hs&or=bn

Attorneys General Expect to Reach Settlement Before Christmas

I believe this will truly be a sad day for those states who agree to this proposal. Thank God the New York AG is going his own way to protect New Yorkers. Until bankers are held accountable they'll continue displaying the same behavior. And why not? There's no deterrent to act differently!

http://www.dsnews.com/articles/print-view/attorneys-general-expect-to-reach-settlement-before-christmas-2011-12-13

Do You Have Any Of These Violations On Your Mortgage?

Below you will find some of the results we have found after auditing our client’s mortgages:


Audited Results:
* Excessive fee charged to borrower
* Over compensation to mortgage broker
* Wrong lender foreclosing on borrower
* Borrower never received acceleration notice
* No HUD given to borrower at closing
* Mortgage broker over stated borrower’s income
* Mortgage broker added false bank account to borrower’s loan application
* Asset based lending
* Bait and switch. Borrower was switched at closing into an ARM loan
* No pre-closing documents – TIL, GFE, IOAF, Loan type, Broker’s fees
* Margin 7.125% (Adjustable rate loans only)
* TIL and Note payments do not match
* TIL does not clearly state mortgage payment
* Loan discount $ 9,315.00 – No benefit to borrower
* Mortgage broker never disclosed their additional fees
* Mortgage broker promised borrower a cash out of $76,000 if they closed the loan.
* Borrower received no note at the closing
* Borrower never signed any closing documents. Broker “lifted” borrower’s signatures from a
previous loan.
* Mortgage broker closed loan at borrower’s place of business without an attorney, notary or
title company.
* Foreclosure filed during the 30 notice period
* Loan flipping. No benefit to borrower
* Closing costs ($75,966.65) higher than GFE ($47,377.15)
* $28,589.50 missing from closing (HUD)
* Hidden payment to mortgage by bank (YSP $17,402.16)
* Mortgage broker over stated borrower’s bank account by $80,400.00
* Borrower was charged for the presence of an attorney when no one presented them
* High cost loan
* APR higher
* Borrower never received cash out as shown on HUD
* Borrower received no documents at closing
* Dual tracking -
* Borrower never served foreclosure documents
* Foreclosure illegally started
* Bank took payments from borrower and than foreclosed
* Process server falsified documents stating they served borrower when they did not.
* No pre-foreclosure documents given to borrower
* Foreclosure filed during the 30 day and 90 period.
* Real Estate broker, mortgage broker and attorney worked together to obtain financing and
sell property to an unsuspecting borrower providing him with false and misleading information
while also giving inaccurate and deceptive information to the lender.

Second Department allows homeowner to amend answer to raise standing.

The Law Offices of Robert E. Brown, P.C.


2011_N_Y__App__Div__LEXIS_76

NBC Nightly News | John O’Brien: Can’t tell who owns mortgages (VIDEO

This has been a real problem all over the country. You can also try to find out who owns your mortgage by sending a Qualified Written Request to your servicer. Be certain to mail by certified mail. You can also check out these other sites to see who might own your loan:
MERS https://www.mers-servicerid.org/sis/, FannieMae http://www.fanniemae.com/loanlookup/
Freddie Mac https://ww3.freddiemac.com/corporate/

http://4closurefraud.org/2011/12/08/nbc-nightly-news-john-obrien-cant-tell-who-owns-mortgages-video/

JPMorgan CEO Jamie Dimon: Stop Bashing the Rich “Acting like everyone who’s been successful is bad and that everyone who is rich is bad – I just don’t

What a shame. And, he's supposed to be an intelligent guy! I think most people don't begrudge those who have become wealthy with honesty and hard work. What Mr. Dimon fails to realize is that people are mad because of the way these people became wealthy by the way of fraud, lying cheating and outright stealing.

http://4closurefraud.org/2011/12/08/jpmorgan-ceo-jamie-dimon-stop-bashing-the-rich-acting-like-everyone-whos-been-successful-is-bad-and-that-everyone-who-is-rich-is-bad-i-just-dont-get-it/

Banker Servicing Abuses. Has This Happened To You?

- Loan sold without your knowledge
- Dual Tracking (working on mod & foreclosure filed at the same time)
- Foreclosure filed even though you’re current
- Faxing modification paperwork multiple times
- Different stories every time you call your lender
- Trial Mod exceeds the 3 month timeline
- Improper denial of HAMP (or in-house mod)
- Rights waiver inserted into loan modification agreements
- Improperly applied mortgage payments
- Escrow payments applied incorrectly
- Bogus/inaccurate fees on reinstatement figures
- Not providing timely reinstatement or payoff figures
- Bank provides no communication to borrower regarding late payments or pre-foreclosure
- Robo-signing (save the best for last). Bad signatures, bad assignments, no affidavits

If you believe any of the above has happened and feel you need help to resolve the problem please contact our office for a FREE consultation.

Law Offices of Robert E. Brown, P.C.
2409 Richmond Road Staten Island, New York 10306
jbrancato@robertbrownlaw.com

Att’y Advertising

SEC official: Feds conclude that many allegations of financial wrongdoing can’t succeed as criminal prosecutions

WHAT?????? Did I miss something here? Difficult to prosecute? Hmmmmm . . . sounds like a little more effort should be put into it. Or, get a bigger dog!

http://stopforeclosurefraud.com/2011/12/06/sec-official-feds-conclude-that-many-allegations-of-financial-wrongdoing-cant-succeed-as-criminal-prosecutions/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ForeclosureFraudByDinsfla+%28FORECLOSURE+FRAUD+%7C+by+DinSFLA%29

NUCLEAR BOMBSHELL- THE IRS Enters The Fraudclosure Fight

Lawsuits will be piled high should these pass-throughs lose their tax status. Imagine getting a favored tax status that saves millions and millions of dollars and you blow it because you didn't do your job.

http://mattweidnerlaw.com/blog/2011/12/nuclear-bombshell-the-irs-enters-the-fraudclosure-fight/?utm_source=rss&utm_medium=rss&utm_campaign=nuclear-bombshell-the-irs-enters-the-fraudclosure-fight&utm_medium=twitter&utm_source=twitterfeed

GMAC Counters Lawsuit with Decision to Pull Lending in Massachusetts

Who does GMAC think they're hurting anyway? Their actions only prove they are NOT interested in playing by the rules but are more interested in taking advantage of borrowers.

http://www.dsnews.com/articles/gmac-counters-lawsuit-with-decision-to-pull-lending-in-massachusetts-2011-12-02

The Financial Crisis | A Timeline of Events and Policy Actions

WOW! This should be left as an open timeline so in years to come we can read about the carnage and perhaps learn something. Hopefully this timeline will include the arrests and convictions of all those who caused this mess.

http://4closurefraud.org/2011/12/05/the-financial-crisis-a-timeline-of-events-and-policy-actions/

Foreclosure Crisis Isn't Even Halfway Over: Study

I believe this market will not begin to correct itself for at least another 5 years. Let's see what needs to be addressed before we can move forward. Foreclosures (both legal & illegal), predatory loans, affordable modifications, class action lawsuits, AG settlements, investor suits against servicers, home owner counter claim suits, revamp Freddie and Fannie, dishonesty of Wall Street, Federal Government, prison terms for those who caused this mess. Did I leave anything/anyone out? Please feel free to let me know.

http://www.dsnews.com/articles/foreclosure-crisis-is-only-halfway-over-study-2011-12-05

Predatory Loan Test

You May Have a Predatory or Fraudulent Mortgage If:

•The closing took place in your home or place of business
•There was no physical closing
•You never signed any paperwork
•You never received all of your paperwork
•The mortgage broker promised or paid you to close
•You received no paperwork before the closing
•You were promised a fixed rate loan and then received an adjustable rate
•Your payment was higher than broker stated it would be
•You were told your payment included taxes and insurance
•You were told you needed to buy “life insurance” in order to be approved
•Your income was inflated
•You were approved for the loan based on the value of your home not on your income
•The mortgage broker increased the number of apartments on your application
•The broker added bank accounts you don’t have or inflated the balance in them
•The mortgage broker received an “extra” payment from the bank (known as a Y.S.P.)
•The mortgage broker earned more than what would be consider reasonable
•You refinanced multiple times (loan flipping)
•Broker promised to refinance you into a “better loan”
•Interest rate is higher than promised or incorrect
•Cash out promised is less than received
•Closing costs are higher than stated
•High closing costs
•Unearned or bogus fees paid to the bank or broker
•Payment to mortgage broker is higher than shown on closing statement (HUD)
•You were specifically targeted for a specific type of loan (more fees for broker)
•You were locked into the loan for a long period (or you had to pay a fee)


If you have any questions regarding your mortgage, predatory lending or how we can help you to fight back against foreclosure please feel free to contact us.


Law Offices of Robert E. Brown, P.C.
2409 Richmond Rd., Staten Island, New York 10306
Phone: 718-979-9779 Email: jbrancato@robertbrownlaw.com
Attorney Advertising

Pillar Processing | 590 Face Layoff as Steven J. Baum Woes Spread

It's a real shame that in the end more people lose their jobs AND their homes. Instead of pushing these cases through the system using inaccurate information the more productive way would have been to honestly try and provide for an affordable loan modification where possible. But in my experience I have rarely witnessed this sort of an outcome. In the end the banks will be left with inventory that they will be unable to sell and they will become what they never intended on becoming. . . . . . . landlords

http://4closurefraud.org/2011/12/01/pillar-processing-590-face-layoff-as-steven-j-baum-woes-spread/

Massachusetts AG Lawsuit

Five Major U.S. Banks Accused Of Deceptive Foreclosure Practices.

Massachusetts Attorney General Martha Coakley is suing five of the nation's largest banks for deceptive foreclosure and mortgage modification practices, her office announced Thursday. Coakley's suit signals her formal departure from ongoing settlement negotiations between those banks, the Obama administration and a coalition of other state AGs over faulty foreclosure procedures.

Full Story: http://www.huffingtonpost.com

Massachusetts AG Lawsuit: Five Major U.S. Banks Accused Of Deceptive Foreclosure Practices

Only three AGs that I know of are really putting the squeeze on the banks. Coakley (Massachusetts) Biden (Delaware) and our very own Eric Schneiderman (New York). Where are the other AGs? Why are the rest "falling in line" and believing what they're being fed? If the rest of the AGs believe the best way for the country to move forward is to "get all this behind us" they are gravely mistaken. By doing so without REALLY punishing the bankers will have the bankers believe they have the "right" to screw over whoever they like and further cement the idea that if they make "bad bets" that they'll be bailed out again, again and again. They need to be fully punished. As far as I'm concerned if there is no jail time there is no punishment. Simply being able to "pay a fine" and keep your money is not punishment. What do you think?

http://www.huffingtonpost.com/2011/12/01/massachusetts-ag-foreclosure-lawsuit-banks_n_1123393.html

U.S. Foreclosure Fraud in a Nutshell, How Average Joe's Home Was Stolen

Very interesting article. Be certain to read the entire piece.

http://www.marketoracle.co.uk/Article31789.html

Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress

The whole thing just makes me SICK. Secret loans, ripping off the taxpayers, no arrests, no prison. I don't get it.

http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html

Mortgage Servicers: Getting Away with the Perfect Crime?

If you think you have a predatory or fraudulent loan please give us a call. We'll conduct a loan audit to see if your mortgage has any violations. These violations may be used to fight back against the bank.

http://www.newdeal20.org/2011/11/28/mortgage-servicers-getting-away-with-the-perfect-crime-65555/

HERO Judge Rakoff May Have Goldman Sachs CEO Lloyd Blankfein Testify

Oh, boy! Can't wait to hear how he spins this one. This should be good.
http://stopforeclosurefraud.com/2011/08/22/serious-goldman-sachs-ceo-lloyd-blankfein-has-hired-high-profile-attorney-reid-weingarten/

A Banker Speaks, With Regret

Ok, so now a former banker admits the banks caused the whole housing mess. Perhaps this would be a great time to put this guy on the payroll and have him help us nail all of the other bankers responsible for this mess.

http://www.nytimes.com/2011/12/01/opinion/kristof-a-banker-speaks-with-regret.html?_r=2

Oversight Committee Democrats Urge FHFA Director to Produce Documents on Principal Reduction

This is the only politician speaking on behalf of the average Joe. Way to go!

http://4closurefraud.org/2011/11/30/elijah-cummings-oversight-committee-democrats-urge-fhfa-director-to-produce-documents-on-principal-reduction/

Interview with Scott Olsen About His Injury from the Police Attack on Occupy Oakland (Video)

Wake up people! America as you know it is slowly changing right before our eyes!

http://4closurefraud.org/2011/11/30/interview-with-scott-olsen-about-his-injury-from-the-police-attack-on-occupy-oakland-video/

Are loss-share lenders gouging us?

OneWest Bank got a GREAT deal from the FDIC also. Nothing like buying bad loans from the FDIC and having your down side limited! Hey, no problem the taxpayers will cover you!

http://4closurefraud.org/2011/11/30/fraudclosure-are-fdic-loss-share-lenders-gouging-us/

Employment and Income Fraud on the Rise

No surprise here. As credit tightens it will get worse.

http://www.dsnews.com/articles/print-view/employment-income-fraud-on-rise-2011-11-29

Adam Levitin | HARP’s Dirty Little Secret: Most HARP Refis are of Positive Equity Mortgages

Wait, that can't be true.  A Government program created to help underwater borrowers refinance helps very few of them . . . . . . . Surprise!!!!!!!!!!

http://4closurefraud.org/2011/11/30/adam-levitin-harps-dirty-little-secret-most-harp-refis-are-of-positive-equity-mortgages/

DO You Have A Mortgage With BAC Home Loans Servicing?

If the lender foreclosing on your property is BAC HOME LOANS SERVICING. Please contact our office at jbrancato@robertbrownlaw.com for some very important information.

Police, Movers Refuse to Evict 103-Year-Old Woman from Foreclosed Home of 53 Years

I guess if the bank wants to evict this woman they can send an executive to do it!

http://4closurefraud.org/2011/11/30/police-movers-refuse-to-evict-103-year-old-woman-from-foreclosed-home-of-53-years/

Robo-signer Whisleblower Found Dead in Nevada

The Law Offices of Robert E. Brown, P.C.

A notary public who signed tens of thousands of false documents in a massive foreclosure scam before blowing the whistle on the scandal has been found dead in her Las Vegas home.


Full Story: http://4closurefraud.org

Banks May Have Illegally Foreclosed on Members of the Military

The Law Offices of Robert E. Brown, P.C.



Ten leading US lenders may have unlawfully foreclosed on the mortgages of nearly 5,000 active-duty members of the US military in recent years, according to data released by a federal regulator.



Full Story: http://www.truth-out.org

U.S. Bank N.A. v. Solorin

The Law Offices of Robert E. Brown, P.C.

U.S. Bank N.A.. v Solorin w

Full Story: http://stopforeclosurefraud.com

FANNIE MAE: Authorization for File Transfers from the Baum Law Firm

The Law Offices of Robert E. Brown, P.C.

Ntce112111Fannie Baum

Full Story: http://stopforeclosurefraud.com

Long list of alleged BAC Home Loans (BAC Gp, LLC)/Countrywide Robosigners

The Law Offices of Robert E. Brown, P.C.

Page 4 BAC Robosigners on QCL BAC to Fannie

Full Story: http://www.foreclosurehamlet.org

Secret Fed Loans Gave Banks $13 Billion

The Law Offices of Robert E. Brown

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.

The Full story can be found here: http://www.bloomberg.com

Mr. Romney on Foreclosures

This guy knows NOTHING about finance OR real estate. Which means he knows NOTHING about foreclosures. And he wants to become president. Good luck!

http://www.nytimes.com/2011/11/27/opinion/sunday/mr-romney-on-foreclosures.html?_r=1

Baum fall throws NY foreclosures a curve

And so the unwinding begins. . . . . . .
http://www.nypost.com/p/news/business/baum_fall_throws_ny_foreclosures_Z3Twy2tQIrIc4Qr7WggHtL

Baum abandons foreclosure case

We may begin to see even more of these cases!

http://stopforeclosurefraud.com/2011/11/10/u-s-bank-n-a-v-solorin-nysc-dismisses-complaint-abandoned-steven-j-baum-pc-plaintiff-attorney-affirmation/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ForeclosureFraudByDinsfla+%28FORECLOSURE+FRAUD+%7C+by+DinSFLA%29

Desert Underwater Part 5: Who Owns Your Home?

This problem will be the last to be addressed. . .unfortunately.

http://4closurefraud.org/2011/11/25/desert-underwater-part-5-who-owns-your-home/

Foreclosure firm’s collapse could delay cases statewide

ALL of these "foreclosure mills" should be investigated ASAP!

http://stopforeclosurefraud.com/2011/11/23/foreclosure-firms-collapse-could-delay-cases-statewide/?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+ForeclosureFraudByDinsfla+%28FORECLOSURE+FRAUD+%7C+by+DinSFLA%29

Pols Rally for Foreclosure Assistance Funding

These not-for-profits should get all the money they need. This foreclosure crisis is certainly NOT going to go away anytime soon. Kudos to Staten Island Legal Services!
http://www.politickerny.com/2011/11/21/pols-rally-for-foreclosure-assistance-funding/

Cummings Calls for Unredacted Copies of “Engagement Letters” Between Mortgage Servicing Companies and Private Consultants

ALL of our elected officials need to jump on this !!!!

http://4closurefraud.org/2011/11/23/cummings-calls-for-unredacted-copies-of-engagement-letters-between-mortgage-servicing-companies-and-private-consultants/

Whistleblowers ignored, punished by lenders, dozens of former employees say

So let me get this straight. You hire internal fraud investigators and when they find something you believe shouldn't be reported you threaten, harass and fire these people? I don't get it!!!!!

http://www.iwatchnews.org/2011/11/22/7461/whistleblowers-ignored-punished-lenders-dozens-former-employees-say

Robo-Signing Problems on Foreclosure Documents

I have to ask this again. . . why hasn't anyone gone to prison yet???

http://4closurefraud.org/2011/11/25/desert-underwater-part-3-robo-signing-problems-on-foreclosure-documents/

The Law Offices of Robert E. Brown, P.C. Welcomes the Addition of Attorney Michael A. Mazalatis

The Law Offices of Robert E. Brown, P.C. announces the addition of attorney Michael A. Mazalatis to the law firm.

Member, State Bar of New Jersey (November 2010 - Present)

Member, State Bar of New York (March 2011 – Present)

Admission, United States District Court for the District of New Jersey

Whom Do You Serve? UC Davis Protestors Pepper Sprayed for Sitting on the Ground

Absolutely disgusting!

http://4closurefraud.org/2011/11/21/whom-do-you-serve-uc-davis-protestors-pepper-sprayed-for-sitting-on-the-ground/

Baum Firm Could Possibly Owe “Millions of Dollars” From Foreclosured Properties

I'm sure there are many parties seeking restitution from Baum. Better move on him now before there's nothing left.

http://stopforeclosurefraud.com/2011/11/21/baum-firm-could-possibly-owe-millions-of-dollars-from-foreclosured-properties/

Negative Equity: How Many Loans are Underwater in Your State?

As the real estate market continues to decline you may feel the only way out is a short sale or deed-in-lieu (of foreclosure). Take note that the banks will try to make you cover any of their losses. Be certain to hire an attorney that is familiar with deficiency judgments because the banks will most certainly come after you for any losses.

http://www.creditsesame.com/blog/negative-equity-how-many-loans-are-underwater-in-your-state/

Lawmaker Questions If GSE Penalties Contributed to Foreclosure Abuses

So the Federal Housing Finance Agency(FHFA)knew about Robo-signing "years ago"?! And then assessed $150 million in fines against servicers for NOT pushing foreclosures through the system faster?!?!? I'm completely at a loss for words here.

http://www.dsnews.com/articles/lawmaker-questions-if-gse-penalties-contributed-to-foreclosure-abuses-2011-11-21

After Arrest | Retired Police Captain Raymond Lewis Joins Occupy Wall Street (VIDEO)

Retired police captain gets arrested for the rights of others. N.Y.P.D. must realize THEY too are part of the 99%.

http://4closurefraud.org/2011/11/21/after-arrest-retired-police-captain-raymond-lewis-joins-occupy-wall-street-video/

OUTRAGEOUS | Miriam Mendieta, Esq., Former Managing Partner of David J. Stern’s Fraud Factory to Lead Review of 4.5 Million Foreclosure Cases

As soon as the banks announced THEY would be the ones hiring the auditors you knew there would be a problem. They must really believe we're a bunch of idiots.

http://4closurefraud.org/2011/11/21/outrageous-miriam-mendieta-esq-former-managing-partner-of-david-j-sterns-fraud-factory-to-lead-review-of-4-5-million-foreclosure-cases/

Baum law firm to close

He has no one to blame but himself.
http://www.bizjournals.com/buffalo/news/2011/11/21/baum-law-firm-to-close.html

HSBC v. NORTON

HSBC v Norton w

Cycle of Debt--A Special Report from Fox

The Law Offices of Robert E. Brown, P.C.

Cycle of Debt | Dallas Battles Money Lenders: MyFoxHOUSTON.com

Cycle of Debt | Viewer Learns Painful Lesson on Loans: MyFoxHOUSTON.com

Cycle of Debt | Finding Loan Alternatives: MyFoxHOUSTON.com

responsiblelending.org

Re-ordering Transactions: A Costly Overdraft Abuse

The Law Offices of Robert E. Brown, P.C.




responsiblelending.org

Predatory Loan Test

You May Have a Predatory or Fraudulent Mortgage If:

•The closing took place in your home or place of business
•There was no physical closing
•You never signed any paperwork
•You never received all of your paperwork
•The mortgage broker promised or paid you to close
•You received no paperwork before the closing
•You were promised a fixed rate loan and then received an adjustable rate
•Your payment was higher than broker stated it would be
•You were told your payment included taxes and insurance
•You were told you needed to buy “life insurance” in order to be approved
•Your income was inflated
•You were approved for the loan based on the value of your home not on your income
•The mortgage broker increased the number of apartments on your application
•The broker added bank accounts you don’t have or inflated the balance in them
•The mortgage broker received an “extra” payment from the bank (known as a Y.S.P.)
•The mortgage broker earned more than what would be consider reasonable
•You refinanced multiple times (loan flipping)
•Broker promised to refinance you into a “better loan”
•Interest rate is higher than promised or incorrect
•Cash out promised is less than received
•Closing costs are higher than stated
•High closing costs
•Unearned or bogus fees paid to the bank or broker
•Payment to mortgage broker is higher than shown on closing statement (HUD)
•You were specifically targeted for a specific type of loan (more fees for broker)
•You were locked into the loan for a long period (or you had to pay a fee)


If you have any questions regarding your mortgage, predatory lending or how we can help you to fight back against foreclosure please feel to contact us.


Law Offices of Robert E. Brown, P.C.
2409 Richmond Rd., Staten Island, New York 10306
Phone: 718-979-9779 Email: jbrancato@robertbrownlaw.com
Attorney Advertising

Disparities in Mortgage Lending and Foreclosures

The Law Offices of Robert E. Brown, P.C.


“Lost Ground, 2011” is based on an analysis of 27 million mortgages made over a five-year period. Here are our top-line findings:

The nation is not even halfway through the foreclosure crisis. 6.4 percent of mortgages made between 2004 and 2008 have ended in foreclosure, and an additional 8.3 percent are at immediate, serious risk.

Foreclosure patterns are strongly linked with patterns of risky lending. Foreclosure rates are consistently worse for borrowers who received high-risk loan products that were aggressively marketed before the housing crash.

The majority of people affected by foreclosures have been white families. However, borrowers of color are more than twice as likely to lose their home as white households.

Foreclosure Damage Index

Disparities in Mortgage Lending and Foreclosures: Maps and Data

Executive Summary


The full article can be found here: responsiblelending.org

Breaking The Law… Again | ACLU, Florida Press Association, First Amendment Foundation Letter to Hillsborough County Chief Judge Menendez “Stop Blockin

AGAIN, the public is denied access to foreclosure hearings?? What the hell is going on in Florida??? Unbelievable!

http://4closurefraud.org/2011/11/18/breaking-the-law-again-aclu-florida-press-association-first-amendment-foundation-letter-to-hillsborough-county-chief-judge-menendez-stop-blocking-citizens-from-attending-foreclosure-court/

Baum Weighs In After Uproar

Something tells me Baum will become an expert at throwing anyone he can under the bus to save his own skin. He has no one to blame but himself. Like I said - If I were a Baum employee I'd starting looking for a new job - yesterday!


http://www.nytimes.com/2011/11/19/opinion/nocera-baum-weighs-in-after-uproar.html?_r=2

Analysis: SEC targets low-level bankers, spares top execs

The SEC - A Toothless Dog on a Short Leash. Throw the little banker under the bus while the head bankster drives it away. Nice going!

http://stopforeclosurefraud.com/2011/11/15/analysis-sec-targets-low-level-bankers-spares-top-execs/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ForeclosureFraudByDinsfla+%28FORECLOSURE+FRAUD+%7C+by+DinSFLA%29

SIGTARP, Google Crack Down on Mortgage Modification Scams

Sadly, many of these borrowers will be taken for a lot of money before they come and see us. Many times it is either too late or they've spent everything they have. You need to know who you're dealing with before spending your hard-earned cash.

http://www.americanbanker.com/issues/176_223/sigtarp-google-mortgages-modifications-1044136-1.html?ET=americanbanker:e8802:1903271a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=AB_Washington_Regulatory_111711

Freddie Mac to securitize previously delinquent mortgages

So, I guess NO lessons have been learned??? Sounds like just another way to earn more revenue. I would like to know how the loans became "performing". More than likely the borrowers were pushed into shoddy loan mods or worse - repayment plans. That makes perfect business sense - push borrowers to become current and then securitize and peddle them as performing. I'm sure you can "buy" a good rating for the securitized loans and you're good to go! Great work guys!

http://4closurefraud.org/2011/11/17/just-when-you-thought-you-heard-it-all-freddie-mac-set-to-securitize-previously-delinquent-mortgages/

Woman Gets Jail For Food-Stamp Fraud; Wall Street Fraudsters Get Bailouts

I guess the lesson here is if you're going to steal, you need to steal a LOT of money (like the bankers)! And then you won't go to prison. Great lesson to teach the kids.

http://4closurefraud.org/2011/11/18/matt-taibbi-woman-gets-jail-for-food-stamp-fraud-wall-street-fraudsters-get-bailouts/

Foreclosure mill getting peppered

Poor, poor Baum. The chickens are coming home to roost. With half of his revenue coming from the two giants (Fannie & Freddie) it won't be long before he'll begin to have a real cash flow problem. If I were a Baum employee I would start looking for another job. The writing is on the wall folks.


http://m.nypost.com/p/news/business/foreclosure_mill_getting_peppered_kiOTIVUoa2nNSftA2YwZKJ

Three Explicit Demands − Bill Black interview

Full Story: useforeclosurelaw.com

CARNEY vs. BANK OF AMERICA | 9th Circuit Ct. Appeals “It is clear that MERS and ReconTrust act to usurp Appellant’s property without lawful authority”

Carney v. Bank of America w

Full Story Click Here: http://stopforeclosurefraud.com

Nevada Grand Jury Indicts Two in Alleged Robo-Signing Scheme

Full Story Click Here: The Wall Street Journal

Are You a Victim of Predatory Lending or Fraud?

Do you know the signs of a predatory loan? (Hint - think how your mortgage broker was paid). You may be a victim of predatory lending and not even know it! If you're in foreclosure one reason may be because of the type of loan you have. If you're not sure you have a predatory loan email us for a free copy of the Signs of Predatory Lending. If you have questions about predatory lending, fraud or foreclosures send us an email and we'll be happy to provide a free private consultation (by phone or email).


John Brancato, Loss Mitigation

jbrancato@robertbrownlaw.com

The More You Look for Terrorists, the Fewer Banksters You Have to Prosecute

The Law Offices of Robert E. Brown, P.C.


For Full Article:
http://www.emptywheel.net

Steven J. Baum Dropped by Fannie Mae

The Law Offices of Robert E. Brown, P.C.

For Full Story:
http://4closurefraud.org

MERS | Mortgage Registry Accused of Owing El Paso County Millions; Will County Sue?

The Law Offices of Robert E. Brown, P.C.



For Full Article & Video:
4closurefraud

Are You a Victim of Predatory Lending or Fraud?

Do you know the signs of a predatory loan? (hint - think how your mortgage broker was paid). You may be a victim of predatory lending and not even know it! If you're in foreclosure one reason may be because of the type of loan you have. If you're not sure you have a predatory loan email us for a free copy of the Signs of Predatory Lending. If you have questions about predatory lending, fraud or foreclosures send us an email and we'll be happy to provide a free private consultation (by phone or email).

John Brancato, Loss Mitigation

jbrancato@robertbrownlaw.com

A Case Dismissed due to Unable to verify NY "fraudclosure"

The Law Offices of Robert E. Brown, P.C.

Full Decision:

U.S. Bank N.A.. v Solorin

Blog Post:

Alina Virani

Death Knell For ‘Robo-Signing’?

The Law Offices of Robert E. Brown, P.C.


Morgan Stanley agrees to end practice...



Full Story:

Financial Fraud Law

Bank Excuses on Foreclosure Growing Stale

The Law Offices of Robert E. Brown, P.C.

"Bank of America got a bailout, and this is an outrage, how this man has been treated,” she said. “Hard-working, middle-class Americans are trying to make it, trying to refinance with your bank.”

Either bank officials show up in person, the justice said, or I’m going to order them “here in handcuffs.”

For Full Story:

NY Times

A Coming Nightmare of Homeownership?

Too big to fail . . again?

http://query.nytimes.com/gst/fullpage.html?res=9D04E2D81338F930A35753C1A9629C8B63&pagewanted=all

Occupy Buffalo protesters picket at Baum law office

Too bad he wasn't there to witness that!

http://www.buffalonews.com/city/communities/amherst/article634660.ece?utm_source=twitterfeed&utm_medium=twitter

JUDGE DENNIS BLACKMON NAILS US BANK IN GEORGIA ON HAMP, WRONGFUL FORECLOSURE

Wow! If more judges had this same thought process banks wouldn't be so bold.

http://4closurefraud.org/2011/11/14/bam-phillips-vs-us-bank-homeowners-are-3rd-party-beneficiaries-of-hamp-must-read/

Occupy Wall Street

Very interesting insight!

http://www.onlinemba.com/blog/occupy-wall-street/

Court Order | Judge Rules Occupy Wall Street Protesters Can’t Camp in Zuccotti Park

What the police don't realize is that THEY are also the 99%!

http://4closurefraud.org/2011/11/15/court-order-judge-rules-occupy-wall-street-protesters-cant-camp-in-zuccotti-park/

Think You Have a Predatory Loan?

Do You Have Any Of These Violations On Your Mortgage?

Below you will find some of the results we have found after auditing our client’s mortgages:

Audited Results:
* Excessive fee charged to borrower
* Over compensation to mortgage broker
* Wrong lender foreclosing on borrower
* Borrower never received acceleration notice
* No HUD given to borrower at closing
* Mortgage broker over stated borrower’s income
* Mortgage broker added false bank account to borrower’s loan application
* Asset based lending
* Bait and switch. Borrower was switched at closing into an ARM loan
* No pre-closing documents – TIL, GFE, IOAF, Loan type, Broker’s fees
* Margin 7.125% (Adjustable rate loans only)
* TIL and Note payments do not match
* TIL does not clearly state mortgage payment
* Loan discount $ 9,315.00 – No benefit to borrower
* Mortgage broker never disclosed their additional fees
* Mortgage broker promised borrower a cash out of $76,000 if they closed the loan.
* Borrower received no note at the closing
* Borrower never signed closing documents. Broker “lifted” signatures from a previous loan.
* Mortgage broker did home closing without an attorney, notary or title company.
* Foreclosure filed during the 30 notice period
* Loan flipping. No benefit to borrower
* Closing costs ($75,966.65) higher than GFE ($47,377.15)
* $28,589.50 missing from closing (HUD)
* Hidden payment to mortgage by bank (YSP $17,402.16)
* Mortgage broker over stated borrower’s bank account by $80,400.00
* Borrower was charged for the presence of an attorney when no one presented them
* High cost loan
* APR higher
* Borrower never received cash out as shown on HUD
* Borrower received no documents at closing
* Dual tracking (lender started to foreclose while working on a modification)
* Borrower never served foreclosure documents
* Foreclosure illegally started
* Bank took payments from borrower and than foreclosed
* Process server falsified documents stating they served borrower when they did not.
* No pre-foreclosure documents given to borrower
* Foreclosure filed during the 30 day and 90 period.
* Real Estate broker, mortgage broker and attorney worked together to obtain financing and sell property to an unsuspecting borrower providing him with false and misleading information
while also giving inaccurate and deceptive information to the lender.

The Making of a "Liar's Loan," With Help From The Loan Officer

What a shame that this type of behavior was allowed to exist and thrive.

http://www.dailyfinance.com/2011/01/18/making-a-liars-loan-with-help-from-the-loan-officer/?a_dgi=aolshare_twitter

Newly Released Photo | Steven J. Baum Fraudclosure Factory “Will Work for Food! …Or a Pardon!!”

Baum, Baum, Baum....I guess the writing is truly on the wall. This is classic!

http://4closurefraud.org/2011/11/14/newly-released-photo-steven-j-baum-fraudclosure-factory-will-work-for-food-or-a-pardon/

Fannie, Freddie CEOs Agree to Face Congress Over Bonuses this Wednesday

I can't wait to hear all of the crying and excuses.

http://4closurefraud.org/2011/11/14/fannie-freddie-ceos-agree-to-face-congress-over-bonuses-this-wednesday/

You’re FIRED | Foreclosure Mill Lawyer Extraordinaire Steven J. Baum Dropped by Freddie Mac

Well it's a start! Cut off the rest of his cash flow and perhaps he'll close up on his own.

http://4closurefraud.org/2011/11/14/youre-fired-foreclosure-mill-lawyer-extraordinaire-steven-j-baum-dropped-by-freddie-mac/

Superintendent Lawsky Announces Agreements With Morgan Stanley, Saxon, AHMSI & Vericrest On Groundbreaking New Mortgage Practices

If the banks made it a practice to hold their own paper, looked at borrowers as customers and not loan numbers and refrained from screwing their own customers these safeguards wouldn't be necessary.

http://www.dfs.ny.gov/about/press/pr1111101.htm

Mortgage Rescue Scheme Gets NY Attorney Disbarred for the Second Time

What a shame! What else can you say?

http://www.timesunion.com/local/article/New-tune-whistled-in-mortgage-case-1428201.php#next

Elijah Cummings, the Homeowner Crusader

It's a shame that more of our elected officials don't step up to the plate like he has. Perhaps they should all personally experience foreclosure. Then I'm sure their tune will change.
http://www.politico.com/news/stories/1111/67715.html

Foreclosure law firm is battling rule on accuracy

New York ‘procedural hurdle’ called unconstitutional

Full Article:
Buffalonews.com

Legal Issues Slow Foreclosures in New Jersey

Full Story:

Stopforeclosurefraud.com

Wall Street, Main Street: Do You Have A Predatory or Fraudulent Mortgage?

Wall Street, Main Street: Do You Have A Predatory or Fraudulent Mortgage?: Do You Have Any Of These Violations On YOUR Mortgage?* Below you will find some of the results we have found after auditing our client’s m...

Chicago - U.S. Rep. Joe Walsh Screams at Constituents

The Full Story:

http://4closurefraud.org/2011/11/09/chicago-u-s-rep-joe-walsh-screams-at-constituents-dont-blame-the-banks-that-pisses-me-off/

Florida Clerk of Court Sues Mortgage Electronic Registration System (MERS)

The lawsuit was filed by a county clerk in Florida which seeks class action status to represent the state’s 67 counties. The complaint claims the use of MERS does not comply with state property laws and has cost municipalities millions in unpaid recording fees.

The full story:

http://4closurefraud.org/2011/11/09/florida-clerk-of-court-not-sharon-bock-sues-mortgage-electronic-registration-system-mers-for-civil-conspiracy-unjust-enrichment-as-well-as-fraudulent-and-negligent-misrepresentation/

Re. Joe Walsh-Don't blame the banks

Hope he wasn't planning on being re-elected? Either, he's really misinformed or he's an idiot. You decide.


http://stopforeclosurefraud.com/2011/11/09/rep-joe-walsh-yells-at-his-constituents-dont-blame-the-banks/

If you ever had any doubt the media is controlled . . . . . .

Hmmm. If this is true what are they making up about the housing market and foreclosures in general?

http://www.brasschecktv.com/videos/news-media-corruption/if-you-ever-had-any-doubt-the-media-is-controlled-.html

Americans Consider Housing Policy in 2012 Election

Housing, immigration, discriminatory (and unfair) taxes, extremely irresponsible gov't spending, incompetent and self-serving government, and on and on and on. ALL of this will end when the American people have had enough. We're beginning to wake up but we're not entirely there yet.

http://www.dsnews.com/articles/print-view/americans-consider-housing-policy-in-2012-election-2011-11-09

Lawmakers Want Answers on Bonuses to GSE Execs

The argument the GSEs have been promoting all along has been the need to keep pace with their private counterparts as it pertains to executive pay. Tighten your belt like everyone else. These "highly paid" executives are screwing everything up anyway. I say let the "rank and file" guys give it a go!


http://www.dsnews.com/articles/lawmakers-want-answers-on-bonuses-to-gse-execs-2011-11-08

Palm Beach County Court Hosts Free Seminar - For Foreclosure Mills

Our tax dollars at work-- This is a start but Florida has a long way to go.....


Flyer Legal Staff Training5-1



http://www.foreclosurehamlet.org/profiles/blogs/outrageous-palm-beach-county-court-hosts-free-seminar-for

New York courts brace for full force of foreclosure crisis

67% unrepresented by attorneys in 2011? Folks, here's a news flash. . . banks almost NEVER show up without an attorney. Do yourself a favor-find the best foreclosure defense attorney you can and hire them.

http://newsandinsight.thomsonreuters.com/Legal/News/2011/11_-_November/New_York_courts_brace_for_full_force_of_foreclosure_crisis/

Policy Makers: Bank and Wall Street Greed, Not “Irresponsible Homeowners”, Caused Our Crisis

Wow, wow, wow! This is a MUST read (you must read the entire article to be fully disgusted). Again, if the general public did one thing these bankers do we'd go right to jail (no passing "go" , no "$200", no "get out of jail free card" for you). Honestly, when is enough enough?

http://4closurefraud.org/2011/11/08/abigail-field-policy-makers-bank-and-wall-street-greed-not-irresponsible-homeowners-caused-our-crisis/

Bank admits error after couple claims home was illegally taken

Way to go Chase! Because of the service this Vet gave to his country you should have immediately flown in an executive to handle the illegal foreclosure! The home owner had NO MORTGAGE on the property! God, what is wrong with you people?


http://www.conwaydailysun.com/node/476598/

Steven J. Baum | Rule Affirming Foreclosure Cases are Accurate is Unconstitutional

Baum, Baum, Baum. . . . . this guy has got to be kidding! Maybe he just isn't satisfied that everyone in N.Y. hates him. Maybe the goal is to have every living thing on the planet hate him. Does he really believe he has a shot here? Is he THAT delusional? If there ever were a time to make the insanity plea now is the time! Let us know how you feel!

http://4closurefraud.org/2011/11/08/steven-j-baum-rule-affirming-foreclosure-cases-are-accurate-is-unconstitutional/

Flaws Jeopardize New Attempt to Help Homeowners

Open Invitation To The Feds

This will NEVER work! It is beyond clear that the auditors are in bed with the banks. These "independent" auditors have either previous or current relationships with the banks. The Feds should hire their own auditors (and let the banks pay for the audits of course). If the Feds really want to get something done why don't you hire firms in the field (like us) who see predatory lending/servicing everyday?



http://www.propublica.org/article/flaws-jeopardize-new-attempt-to-help-homeowners

Foreclosure Starts Rise as Servicers Process Backlog of Delinquent Loans

It would seem the backlog is due more to improperly filed paperwork than anything else (not to mention robo-signing).

http://www.dsnews.com/articles/print-view/foreclosure-starts-rise-as-servicers-work-through-backlog-of-delinquent-loans-2011-11-07

Borrower Advocates Want Freeze on Foreclosures by Baum Law Firm

A homeowner defense organization has accused New York's largest foreclosure law firm of improper behavior and asked the state's top judge to discontinue any foreclosure cases the firm handles.

For full article:
http://www.americanbanker.com/issues/176_215/foreclosure-defense-bar-baum-1043839-1.html

A Must Read | The Collapse of Our Corrupt, Predatory, Pathological Financial System is Necessary and Positive

Great article! In order for us to get out from under this financial train wreck we need a solid foundation. The only way to accomplish that is to let everything hit rock bottom. Only from there can you start to rebuild.

http://www.oftwominds.com/blognov11/collapse-of-corrupt11-11.html

CUMMINGS REQUESTS DOCUMENTS FROM LAW FIRM AFTER ALLEGATIONS OF FORECLOSURE ABUSE

http://stopforeclosurefraud.com/2011/11/05/cummings-requests-documents-from-law-firm-after-allegations-of-foreclosure-abuse/

Potential felony charges make servicers pause Nevada foreclosures

http://www.housingwire.com/2011/10/21/potential-felony-charges-make-servicers-pause-nevada-foreclosures

Matt Stoller: Why a Foreclosure Fraud Settlement is a RIDICULOUS Idea

The bankers certainly don't see it this way!

http://www.nakedcapitalism.com/2011/11/matt-stoller-why-a-foreclosure-fraud-settlement-is-a-ridiculous-idea.html

Goldman Sachs Sued By Hedge Fund For Knowingly Selling Toxic Mortgage-Backed Investments

Anyone ever wonder how many former Goldman Sachs employees have gone to work for the White House? Am I the only one who sees a conflict here?

http://www.huffingtonpost.com/2011/10/28/basis-yield-alpha-fund-sues-goldman-sachs_n_1063762.html

Freddie Mac Will Seek $6 Billion of Treasury Aid After Posting Wider Loss

A $6 billion (quarterly) LOSS!! It's NOT even for the whole year! Way to go! God these guys are good. Let's give them some more money!

http://news.businessweek.com/article.asp?documentKey=1376-LU33XX6K50XT01-4MG91POC9PRHEJTTKCGFIK1CFI

Georgia Homeowner Wins 11th Circuit Court of Appeals Victory

http://4closurefraud.org/2011/11/03/georgia-homeowner-wins-11th-circuit-court-of-appeals-victory/

HUGE Victory for Homeowners in the State of Florida – 2nd District Court of Appeals Issues Stunning Shot Across the Bow of US Financial Institutions

This was certain to happen. Folks, you couldn't make this stuff up if you tried!

http://4closurefraud.org/2010/02/13/florida-2nd-district-court-of-appeals/

House Members OCC FED Follow Up Letter on “Independent” Foreclosure Reviews

It sounds good but I don't see much happening here. Just a bunch of letter writing! Where's the big growling dog? Lenders will comply only when FORCED to do so.

http://4closurefraud.org/2011/11/04/house-members-occ-fed-follow-up-letter-on-independent-foreclosure-reviews/

DYLAN RATIGAN | NEVADA STATE ATTORNEY GENERAL CATHERINE CORTEZ MASTO FIGHTS FRAUDCLOSURE

Robo-siging a felony? $10,000 per offense? Sounds good to me!


http://4closurefraud.org/2011/11/03/dylan-ratigan-nevada-state-attorney-general-catherine-cortez-masto-fights-fraudclosure/

Tammy Baldwin To Introduce Resolution Opposing Immunity For Banks In Foreclosure Deal

Again all of the investigations, threats and sanctions will not stop the banks from doing what they want to do. I believe only prison will do that.

http://www.huffingtonpost.com/2011/11/03/tammy-baldwin-immunity-banks-foreclosure_n_1072909.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+HP%2FPolitics+(Politics+on+The+Huffington+Post)

Do You Have A Predatory or Fraudulent Mortgage?

Do You Have Any Of These Violations On YOUR Mortgage?*


Below you will find some of the results we have found after auditing our client’s mortgages:


Audited Results:

* Excessive fee charged to borrower $ 11,042.12
* Over compensation to mortgage broker $22,379.86
* Wrong lender foreclosing on borrower
* Borrower never received acceleration notice
* No HUD given to borrower at closing
* Mortgage broker over stated borrower’s income by $225,000.00
* Mortgage broker added false bank account to borrower’s loan application for $66,000
* Asset based lending
* Bait and switch. Borrower was switched at closing into an ARM loan
* No pre-closing documents – TIL, GFE, IOAF, Loan type, Broker’s fees
* Margin 7.125% (Adjustable rate loans only)
* TIL and Note payments do not match
* TIL does not clearly state mortgage payment
* Loan discount $ 9,315.00 – No benefit to borrower
* Mortgage broker never disclosed their additional fee of $4,627.00
* Mortgage broker promised borrower a cash out of $76,000 if they closed the loan.
* Borrower received no note at the closing
* Borrower never signed any closing documents. Broker “lifted” borrower’s signatures from a
previous loan.
* Mortgage broker closed loan at borrower’s place of business without an attorney, notary or
title company.
* Foreclosure filed during the 30 notice period
* Loan flipping. No benefit to borrower
* Closing costs ($75,966.65) higher than GFE ($47,377.15)
* $28,589.50 missing from closing (HUD)
* Hidden payment to mortgage by bank (YSP $17,402.16)
* Mortgage broker over stated borrower’s bank account by $80,400.00
* Borrower was charged for the presence of an attorney when no one presented them
* High cost loan
* APR higher
* Borrower never received cash out as shown on HUD
* Borrower received no documents at closing
* Dual tracking -
* Borrower never served foreclosure documents
* Foreclosure illegally started
* Bank took payments from borrower and than foreclosed
* Process server falsified documents stating they served borrower when they did not.
* No pre-foreclosure documents given to borrower
* Foreclosure filed during the 30 day and 90 period.
* Real Estate broker, mortgage broker and attorney worked together to obtain financing and
sell property to an unsuspecting borrower providing him with false and misleading information
while also giving inaccurate and deceptive information to the lender.

* The results shown above are the results from auditing the loans of both former and current clients. No guarantees can be offered or made as to the types, amounts or severity of violations that may be found on future audits.


CALL TODAY FOR A FREE CONSULTATION

Law Offices of Robert E. Brown, P.C
2409 Richmond Road, Staten Island, N.Y. 10306
Phone: 718-979-9779

Fannie Mae, Freddie Mac executives get big housing bonuses

And the Feds are complaining about excessive bonuses on Wall Street? What the hell? It's "only" money anyway. We'll just print more!

By JOSH BOAK & JOSEPH WILLIAMS | 10/31/11 11:32 PM EDT Updated: 11/1/11 12:57 PM EDT

The Obama administration’s efforts to fix the housing crisis may have fallen well short of helping millions of distressed mortgage holders, but they have led to seven-figure paydays for some top executives at troubled mortgage giants Fannie Mae and Freddie Mac.

The Federal Housing Finance Agency, the government regulator for Fannie and Freddie, approved $12.79 million in bonus pay after 10 executives from the two government-sponsored corporations last year met modest performance targets tied to modifying mortgages in jeopardy of foreclosure.

The executives got the bonuses about two years after the federally backed mortgage giants received nearly $170 billion in taxpayer bailouts — and despite pledges by FHFA, the office tasked with keeping them solvent, that it would adjust the level of CEO-level pay after critics slammed huge compensation packages paid out to former Fannie Mae CEO Franklin Raines and others.

Securities and Exchange Commission documents show that Ed Haldeman, who announced last week that he is stepping down as Freddie Mac’s CEO, received a base salary of $900,000 last year yet took home an additional $2.3 million in bonus pay. Records show other Fannie and Freddie executives got similar Wall Street-style compensation packages; Fannie Mae CEO Michael Williams, for example, got $2.37 million in performance bonuses.

Including Haldeman, the top five officers at Freddie banked a combined $6.46 million in performance pay alone last year, though a second bonus installment for 2010 has yet to be reported to the SEC, according to agency records. Williams and others at Fannie pocketed $6.33 million in incentives for what SEC records describe as meeting the primary goal of providing “liquidity, stability and affordability” to the national market.

“Freddie Mac has done a considerable amount on behalf of the American taxpayers to support the housing finance market since entering into conservatorship,” Freddie spokesman Michael Cosgrove, told POLITICO on Monday. “We’re providing mortgage funding and continuous liquidity to the market. Together with Fannie Mae, we’ve funded the large majority of the nation’s residential loans. We’re insisting on responsible lending.”

A Fannie Mae spokesman said it is currently in a “quiet period” in advance of its third-quarter earnings report and declined to comment.

Most analysts believe the financial implosion of 2008 was fueled in part by Fannie Mae and Freddie Mac’s zeal in promoting homeownership and their backing of risky loans. And critics say that the mortgage giants’ deep backlog of repossessed homes, and their struggle through government conservatorship, is a staggering weight on a weak economy and puts even more downward pressure on home values.

“Fannie and Freddie executives are being paid millions to manage losses,” Rep. Patrick McHenry (R-N.C.), a longtime critic of the administration’s programs to rescue the housing market, told POLITICO. “By these same standards, I should be the starting forward for the Lakers. It’s completely absurd.”

“It is outrageous that senior executives at Fannie and Freddie are receiving multimillion-dollar compensation packages when they now rely on funding from U.S. taxpayers, many of whom face foreclosure or whose homes are underwater,” Rep. Elijah Cummings of Maryland, who has led House Democrats in efforts to ease Fannie and Freddie’s restrictions on restructuring loans or lowering payments for mortgage holders who owe more than their homes are worth, wrote in an email.

Compensation at Fannie and Freddie is, in fact, 40 percent below pre-government takeover levels, according to the FHFA, though those pay packages before conservatorship involved stock awards, while the current payments are exclusively cash. But compensation at both corporations, in particular Fannie Mae, has been a contentious issue since long before the 2008 financial meltdown, thanks to executives like Daniel Mudd, who earned $12.2 million in base pay and bonuses while heading Fannie, and Richard Syron, Freddie’s CEO, who pocketed $19.8 million in total compensation the year before the organization went into conservatorship.

• «Both Fannie and Freddie have long argued that they have to offer Wall Street-size paychecks to compete for the best private-sector talent. House Financial Services Committee Chairman Spencer Bachus (R-Ala.) introduced a bill in April to place the executives on a government pay scale, but it has yet to move out of committee.

  FHFA’s acting director, Edward J. DeMarco, told Congress last year that the managers who were at the helms of the mortgage companies during the market collapse were dismissed but also argued that generous pay helps lure “experienced, qualified” executives able to manage upward of $5 trillion in mortgage holdings amid market turmoil.

DeMarco told lawmakers he’s concerned that suggestions to apply “a federal pay system to nonfederal employees” could put the companies in jeopardy of mismanagement and result in another taxpayer bailout. He said the compensation packages at Fannie and Freddie are part of the plan to return them to solvency while reducing costs to taxpayers.

A March report by FHFA’s inspector general, however, found the agency “lacks key controls necessary to monitor” executive compensation, nor has it developed written procedures for evaluating those packages.

An FHFA representative said the agency is installing pay package recommendations outlined in the report. Currently, she wrote, the agency “carefully reviews all executive officer pay requests and considers suitability and comparability with market practice, after consulting with the Treasury Department in certain circumstances.”

Since both companies’ stock is worthless, bonuses are paid in cash, deferred bonuses and incentive pay rather than stock options. A key factor in determining those bonuses is how Fannie and Freddie performed in the loan modification program created by the administration, in addition to measures tied to financial and accounting objectives.

For example, Freddie Mac helped a mere 160,000 homeowners change their mortgages “in support” of the president’s Home Affordable Modification Programand contacted only 45 percent of eligible borrowers, according to SEC filings. The company itself has modified 134,282 of its own loans since the start of the program. Those measures determined a significant share — 35 percent — of deferred bonus salary and, to a lesser extent, “target incentives” for Freddie executives.

Fannie, which was involved in modifying 400,000 mortgages last year, also assessed executive payments based in part on how it administered HAMP.

President Barack Obama in the past has derided Wall Street “fat cats” for raking in seven-figure bonuses even though their banks and finance companies needed billions of dollars in government bailouts just to stay in business. Yet the White House so far has remained largely silent about comparable bonuses at Fannie Mae and Freddie Mac.

The congressional criticism over compensation follows other charges that DeMarco has been unwilling to throw a lifeline to homeowners plunged underwater when the market collapsed.

The government-sponsored firms have essentially filled the vacuum caused by an exodus from private lenders. But critics want the FHFA to embrace “principal write-downs,” in which lenders and, by extension, Fannie and Freddie, would have to forgive a significant portion of homeowners’ outstanding mortgages; the move, they argue, would be a major step toward restoring housing market stability and boosting the economy but would force the two companies to accept red ink on their balance sheets.

DeMarco has resisted plans to modify troubled mortgages, insisting it wasn’t part of his legal mandate to bring Fannie and Freddie to fiscal stability.

Both HAMP and a similar program, Home Affordable Refinance Program, were seen as having the potential to modify at least 3 million government-backed mortgages and refinance 4 million others. The results were disappointing, however: Just 1.7 million borrowers have been helped since the programs were launched two years ago.

Last week, the White House announced a plan to relax restrictions for the HARP refinance program, which lets homeowners in good standing refinance their mortgages at current rock-bottom interest rates. DeMarco, whom aides say had been studying a similar proposal, gave the plan his blessing — a rare point of agreement between him and the Obama administration.

CORRECTION: An earlier version of this story incorrectly described the process by which the federal government took over Fannie Mae and Freddie Mac. They were both placed in conservatorship under the supervision of the Federal Housing Finance Agency.

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