Finance & Banking › Criminal Law › Residential Real Estate

FinCEN: Accountant and Elder Abuse

We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception. In its just issued May 2013 report, FinCEN provides new information regarding two areas of importance: 1)...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 10, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY -...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

Foreclosure Scams Rampant in Florida

A Florida man was recently sentenced to 26 years in prison for foreclosure and short sale fraud. John Lebron, 33, was convicted last week of setting up a complex scheme to buy and sell foreclosed houses, make money on each...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 26, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE - PRIVACY/DATA SECURITY -...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 12, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - CRIMINAL...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

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

What’s at the Bottom of the ‘Robosigning’ Scandal?

The problematic practice of robosigning – whereby banks and other lenders improperly foreclosed on properties through formulaically processing foreclosure documents – has been much in the news over the past couple of years....more

Democratic Lawmakers Push Regulators For Independent Foreclosure Review Details

On March 25, Senator Elizabeth Warren (D-MA) and Representative Elijah Cummings (D-MD) sent a letter to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry challenging the regulators’ response...more

Loan Originator Compensation: New Rules

On January 24, 2013, as the last of the Final Rules of the Consumer Financial Protection Bureau (CFPB) rolled out, I offered an outline of all of them, entitled "CFPB's Gang of Seven (Final Rules)".* I listed them in...more

Usury in Florida; Generally

Under Florida law, usury is defined as the willful and knowing charge or receipt of interest in excess of 18% per year for credit transactions involving less than $500,000 or between 25% and 45% per year in a credit...more

United States Government Accountability Office GAO Report to Congressional Requesters

GAO Report on Independent Foreclosure Reviews Exposes OCC, Fed’s Plan to Deliberately Minimize Evidence of Borrower Harm

FORECLOSURE REVIEW Lessons Learned Could Enhance Continuing Reviews and Activities under Amended Consent Orders The Government Accountability Office released their second report on the Independent Foreclosure Reviews. At...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 29, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - PAYMENTS -...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

Foreclosure Error Robs Texas Couple of $150K in Property

A Texas couple whose personal property was mistakenly scooped up in a foreclosure happening next door have yet to get their things back and were told by police that it doesn’t count as theft. ...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 8, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CRIMINAL ENFORCEMENT -...more

WHISTLEBLOWER: WELLS FARGO FABRICATED AND ALTERED MORTGAGE DOCUMENTS ON A MASS BASIS

Thursday, March 7, 2013 WHISTLEBLOWER: WELLS FARGO FABRICATED AND ALTERED MORTGAGE DOCUMENTS ON A MASS BASIS Over the last two and a half years, Wells Fargo, like most of the major mortgage servicers, claimed that it had a...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 1, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - CRIMINAL...more

Florida Scammer Rented Out Neighbor’s Foreclosed Home

One Palm Beach neighbor borrowed more than just a cup of sugar. When Nathalie Heil noticed that the house next door was empty after it foreclosed, she posted an online ad offering the property for rent. Heil found some...more

DocX Shutdown Part of $35M ‘Robosigning’ Fraud Settlement

The Department of Justice on Feb. 15 announced a $35 million settlement with Lender Processing Services (LPS) subsidiary DocX, stemming from the so-called “robosigning” scandal of 2010. DocX was in the business of...more

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

Reps. Darrell E. Issa and Elijah E. Cummings, joint letter to Federal Reserve Chairman Ben Bernanke and Comptroller of the...

House Oversight Committee Requests Briefing on Potential Independent Foreclosure Review Process Settlement Washington, DC (Jan. 5, 2013) The Chairman and Ranking Member of the House Committee on Oversight and...more

STATE OF MICHIGAN ATTORNEY GENERAL BILL SCHUETTE FILES CRIMINAL CHARGES AGAINST FORMER MORTGAGE PROCESSOR PRESIDENT FOR ROLE IN...

STATE OF MICHIGAN ATTORNEY GENERAL BILL SCHUETTE FILES CRIMINAL CHARGES AGAINST FORMER MORTGAGE PROCESSOR PRESIDENT FOR ROLE IN FRAUDULENT...more

THE PEOPLE OF THE STATE OF MICHIGAN vs. LORRAINE OREILLY BROWN

FELONY COMPLAINT AGAINST LORRAINE OREILLY BROWN RE: DOCX & ROBO-SIGNING

Lorraine Brown established and orchestrated a widespread scheme of robo-signing and was associated with an enterprise, to wit DOCX. ...more

CFPB and FTC: Warning Letters - Misleading Advertisements

The Consumer Financial Protection Bureau (CFPB), in coordination with the Federal Trade Commission (FTC), has issued warning letters to twelve mortgage lenders and mortgage brokers advising them to remove or revise misleading...more