Civil Remedies › Consumer Protection › Residential Real Estate

The Federal Reserve's Minimum Standards for Prioritization and Handling Borrower Files with Imminent Foreclosure Sale

The Federal Reserve's Minimum Standards for Prioritization and Handling Borrower Files with Imminent Foreclosure Sale. The Federal Reserves guidance is significant because it applies to all regulated bank servicing, rather...more

Office of the Comptroller of the Currency’s Minimum Standards for Prioritization and Handling Borrower Files Subject to Imminent...

Office of the Comptroller of the Currency’s Minimum Standards for Prioritization and Handling Borrower Files Subject to Imminent Foreclosure Sale for all OCC Regulated Banks. The OCC guidance is significant because it...more

Senator Elizabeth Warren's May 14, 2013 letter to Ben Bernanke, Eric Holder, & Mary Jo White

Senator Elizabeth Warren's May 14, 2013 letter to The Board of Governors of the Federal Reserve System, U.S. Department of Justice...

Senator Elizabeth Warren Pushes Feds For Answer On Big Bank Enforcement WASHINGTON — Sen. Elizabeth Warren (D-Mass.) raised the stakes of her quest to find out why a single Wall Street bank has not been prosecuted in the...more

GSEs: Ability-to-Repay and Qualified Mortgages

Yesterday, the Federal Housing Finance Agency (FHFA) announced that it is directing Fannie Mae ("Fannie") and Freddie Mac ("Freddie") to limit their future mortgage acquisitions to loans that meet the requirements for a...more

New York Attorney General Eric Schneiderman To Sue Wells Fargo & Bank Of America For Violating National Mortgage Settlement

New York Attorney General Eric Schneiderman To Sue Wells Fargo & Bank Of America For Violating National Mortgage Settlement...more

KEVIN SINGH v BANK OF AMERICA

MEMORANDUM AND ORDER GRANTING Plaintiff’s Application for a Preliminary Injunction under California's Homeowners Bill of Rights...

California Homeowner Bill of Rights (HBOR) Blocks Bank of America's Foreclosure A California man successfully halted a foreclosure sale on his property using the newly minted California Homeowner Bill of Rights to obtain a...more

CONGRESSIONAL BUDGET OFFICE (CBO) RE Options for Principal Forgiveness

Modifying Mortgages Involving Fannie Mae and Freddie Mac: Options for Principal Forgiveness

The Congressional Budget Office is accepted as a non-partisan agency which has torpedoed both Democratic and Republican proposals on the economy. Upon request from Congress, the CBO studied the mortgage and foreclosure market...more

City of Los Angeles v Deutsche Bank National Trust Company

City of Los Angeles v Deutsche Bank National Trust Company re: Complaint to Abate Public Nuisance

http://www.scribd.com/doc/137914455/City-of-Los-Angeles-v-Deutsche-Bank-National-Trust-Company (Link to Complaint) Apr 23, 2013 A judge has denied Deutsche Bank AG's bid to dismiss a lawsuit by the city of Los...more

Waiting for the CFPB

My sources tell me that the Consumer Financial Protection Bureau (CFPB) will soon announce substantial monetary penalties and other administrative actions against a large nonbank. I guess it is inevitable that when such an...more

YOU CAN’T TRUST OUR NATIONAL BANKS MORTGAGE PAPER TRAIL

FRAUD, NOT MISTAKES AND ERRORS, HAVE PERMEATED THE FORECLOSURE PROCESS IN AMERICA

FRAUD, NOT MISTAKES AND ERRORS, HAVE PERMEATED THE FORECLOSURE PROCESS IN AMERICA When judges begin ordering the accounting and financial books and records of the alleged owner of a borrower’s note to be produced, not...more

Maryland's highest court blocks another foreclosure defense

On March 22, 2013, the Maryland Court of Appeals clarified the meaning of an "endorsement in blank" on mortgage notes, saying that physical transfer without additional endorsement stamps gives the loan servicer standing to...more

FTC Sends FCRA Warning to Providers of Rental Histories

The Federal Trade Commission continues to keep Fair Credit Reporting Act (FCRA) enforcement at the forefront of its activities, as shown by its recent warnings to operators of six websites that provide information about...more

The Enforcement Powers of the Consumer Financial Protection Bureau

For several months, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) has implemented a spate of enforcement actions against banks and non-banks. My interest in this article is neither to re-litigate those cases...more

How the Eaton decision applies to future cases and why legal arguments need to be presented carefully.

Have you heard of the Eaton case in Massachusetts? If you are facing foreclosure and think you may have a defense, especially if you believe the bank may not own the note and the mortgage, you should read this post. In...more

California Reinvestment Coalition Report Re: Bank Violations Hurt Hardest Hit Communities April 2013

CHASM BETWEEN WORDS AND DEEDS: WELLS FARGO IS LISTED AS THE WORST SERVICER, MORE THAN ANY OTHER SERVICER

A new survey of housing counselors in California reveals that banks are violating several consumer protections that were mandated by the $26 billion National Mortgage Settlement (NMS) and the California Homeowners Bill of...more

ROBERT LOCKETT vs. BANK OF AMERICA, N.A.

NOTICE OF RULING: THE COURT OVERRULES BANA'S DEMURRER TO QUIET TITLE, CANCELLATION OF INSTRUMENT, ACCOUNTING & DECLARATORY RELIEF...

THE HONORABLE ABRAHAM KHAN OF THE LOS ANGELES SUPERIOR COURT OVERRULES BANK OF AMERICA'S DEMURRER TO QUIET TITLE, CANCELLATION OF INSTRUMENT, ACCOUNTING AND DECLARATORY RELIEF AND DENIES JUDICIAL NOTICE OF THE DEED OF TRUST...more

ROBERT LOCKETT vs. BANK OF AMERICA, N.A.

COURT OVERRULES BANA'S DEMURRER TO QUIET TITLE, CANCELLATION OF INSTRUMENT, ACCOUNTING & DECLARATORY RELIEF & DENIES JUDICIAL...

THE HONORABLE ABRAHAM KHAN OF THE LOS ANGELES SUPERIOR COURT OVERRULES BANK OF AMERICA'S DEMURRER TO QUIET TITLE, CANCELLATION OF INSTRUMENT, ACCOUNTING AND DECLARATORY RELIEF AND DENIES JUDICIAL NOTICE OF THE DEED OF TRUST...more

FEDERAL HOUSING FINANCE AGENCY OFFICE OF INSPECTOR GENERAL

FHFA Should Develop and Implement a Risk-Based Plan to Monitor the Enterprises’ Oversight of Their Counterparties’ Compliance with...

Summary OIG assessed FHFA’s oversight of Fannie Mae’s and Freddie Mac’s (the Enterprises) monitoring of their counterparties’ compliance with their contractual agreements, with an emphasis on their compliance with federal...more

CONGRESS OF THE UNITED STATES- COMMITTEE ON OVERSIGHT & GOVERNMENT REFORM

Senator Elizabeth Warren (D-MA) and Rep. Elijah E. Cummings (D-MD) March 25, 2013 letter to Federal Reserve Chairman Ben Bernanke...

Senator Elizabeth Warren and Representative Elijah Cummings to Meet with Fed and OCC on Foreclosure Abuses Washington, D.C. March 25, 2013 Senator Elizabeth Warren (D-MA) and Rep. Elijah E. Cummings (D-MD) sent a...more

Arden M. Intengan v. BAC Home Loans Servicing Lp, et al.,

Intengan v. BAC Home Loans, Judgment Dismissing Plaintiff's Complaint Alleging Defendants Lacked Authority to Foreclose on Her...

Arden Intengan v. BAC Home Loans, A135782 Judgment dismissing plaintiff's complaint alleging defendants lacked authority to foreclose on her property is reversed as to the cause of action for wrongful foreclosure, where:...more

FEDERAL HOUSING FINANCE AGENCY OFFICE OF INSPECTOR GENERAL

Enhanced FHFA Oversight Is Needed to Improve Mortgage Servicer Compliance with Consumer Complaint Requirements

Why OIG Did This Audit By the end of 2012, Freddie Mac owned or guaranteed over 10.6 million residential mortgages with a combined unpaid principal balance of $1.6 trillion. It pays mortgage servicers to collect payments...more

MICHAEL L. JONES v WELLS FARGO BANK

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF LOUISIANA OPINION AFFIRMING $3.1 MILLION PUNITIVE DAMAGE AWARD AGAINST WELLS...

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF LOUISIANA MICHEAL L. JONES vs WELLS FARGO BANK OPINION Before the Court is Appellant Wells Fargo Bank, N.A.'s Appeal from a decision of the United States...more

APPELLANT vs. WELLS FARGO BANK, N.A.

APPELLANT'S REQUEST FOR JUDICIAL NOTICE OF A RELATED CASE

Shown below is a sample Request for Judicial Notice. This Request for Judicial Notice is provided for informational purposes, and is not intended as a substitute for legal advice or for representation by a qualified...more

APPELLANT vs. WELLS FARGO BANK, N.A.

APPELLANT'S REQUEST FOR JUDICIAL NOTICE OF A RELATED CASE

Shown below is a sample Request for Judicial Notice This Request for Judicial Notice is provided for informational purposes, and is not intended as a substitute for legal advice or for representation by a qualified...more

UNITED STATES OF AMERICA DEPARTMENT OF THE TREASURY COMPTROLLER OF THE CURRENCY (OCC) In the Matter of Bank of America, N.A.

Office of the Comptroller of the Currency (OCC) Amended Consent Order Against Bank of America, N.A.

Amendments to Consent Orders Memorialize $9.3 Billion Foreclosure Agreement WASHINGTON — The Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board today released amendments to their enforcement...more