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Robo Signing

Trust, but Verify: Recent Revelations Make the Case for More Responsive, and Responsible, Banking

Ray Brescia | Posted 05.22.2012 | Business
Ray Brescia

Allegations about the culture at Goldman Sachs are just the most recent of a stream of embarrassing revelations about bank practices to have come to light in recent years.

A Seven Day Plan to Finally Hold Wall Street Accountable

Bruce Judson | Posted 05.19.2012 | Business
Bruce Judson

My seven day plan is based on a simple premise: When criminal laws are egregiously violated, the guilty parties should face appropriate punishment.

Today's Most Important Finance Story: Lan T. Pham, Ph.D., Told the CBO the Truth About Mortgage "Securities" and Was Fired for It

Janet Tavakoli | Posted 05.16.2012 | Business
Janet Tavakoli

This knowledge isn't unique or new. What is new is that Dr. Pham brought this forward to the CBO and apparently this information is being suppressed and denied by the CBO and in congressional reports.

She Was In Foreclosure, But Now She's Got $18 Million

The Huffington Post | Alexander Eichler | Posted 03.15.2012 | Business

Look closely at the paperwork if you ever get foreclosed on. It could pay off. That's what Lynn Szymoniak learned when her bank foreclosed on her P...

Secret Deals, Foreclosure Settlements, Stress Tests and Vampire Squid Whistleblowers

L. Randall Wray | Posted 05.15.2012 | Business
L. Randall Wray

A new report documents widespread abusive practices at the biggest banks. It shows the potentially illegal activities were not only known by top management, but also encouraged by management.

Ben Hallman

Mortgage Investigation Consistently Hindered By Major U.S. Banks: Watchdog | Ben Hallman | Posted 03.14.2012 | Business

The five banks that agreed to a $25 billion settlement to resolve fraudulent foreclosure claims consistently hindered a government watchdog's investig...

Mortgage Lenders Aren't The Only Ones Accused Of Robo-Signing

The Huffington Post | Jillian Berman | Posted 03.12.2012 | Business

Apparently robo-signing might not be a practice reserved solely for the foreclosure crisis. West Virgnia's attorney general is suing two units of ...

A New Kind of Killer App: RoboSigning 2.0

Bill Bartmann | Posted 04.23.2012 | Business
Bill Bartmann

You'd think that if debt collectors were suing you, they'd want to make a big deal out of it, right? Wrong: Their preferred method of delivery was a plain, first-class letter. Why? Because the mere fact of mailing was considered proper notice.

Banks Take It Easy, While Miami Struggles Against Foreclosures

Jose Suarez | Posted 04.22.2012 | Miami
Jose Suarez

The big banks recently agreed to pay $25 billion to the victims of foreclosure abuse. Yes, $25 billion might sound quite impressive. But here in Miami, the virtual "ground zero" of the foreclosure crisis, we're wary.

Bonnie Kavoussi

Pressure Mounts On Mortgage Giants To Pursue Principal Reductions | Bonnie Kavoussi | Posted 02.13.2012 | Business

Top law enforcement officials in several states are signaling they will pressure Fannie Mae and Freddie Mac to correct what is widely seen as one of t...

The Mortgage Settlement's Huge Missing Piece: Do Detailed Enforcement Provisions Exist?

Bruce Judson | Posted 04.14.2012 | Business
Bruce Judson

Banks agreed to change their behavior as part of the robo-mortgage settlement announced last week. The announcement, however, left open critical quest...

The Robo-Signing Settlement: Breaking the Usual Rules of Housing Policy

Jed Kolko | Posted 04.11.2012 | Business
Jed Kolko

The robo-signing settlement is the latest -- and potentially the largest -- piece in the U.S. housing policy puzzle. Even though it's partly punishment for banks' wrongdoing, it is also another answer by the government to the question of how it can help the housing market.

Bank Settlement: $25 Billion Down, $675 Billion to Go

Van Jones | Posted 04.11.2012 | Politics
Van Jones

We need a solution at the scale of the problem, so that families can get back on their feet, the economy can get working, and people can reach for their American dreams again instead of watching them drown.

The Woman Some Are Dubbing 'The Female Barack Obama'

Reuters | Posted 04.11.2012 | Business

By Tim Reid and Aruna Viswanatha Feb 9 (Reuters) - California Attorney General Kamala Harris, a veteran prosecutor with acute politica...

Ben Hallman

Mortgage Settlement Makes Fresh Promise To Curb Bank Bad Behavior | Ben Hallman | Posted 02.09.2012 | Business

As part of the $25 billion mortgage fraud settlement announced Thursday, five of the biggest U.S. banks promised to end practices that have led to bot...

Settlement Is First Step Towards Foreclosure Relief

Heather McGhee | Posted 04.10.2012 | Politics
Heather McGhee

It is important to bear in mind why exactly today's settlement must be viewed as a first step rather than a resolution of the struggle for accountability in the foreclosure crisis.

Loren Berlin

Holdout States Massachusetts, New York, California, Delaware Reveal Their Share Of Foreclosure Deal | Loren Berlin | Posted 02.09.2012 | Business

The five states that most actively resisted a settlement with banks over charges of widespread mortgage fraud announced their cut of the nationwide de...

Foreclosure Fraud: Scoring the Deal, Continuing the Fight

Richard (RJ) Eskow | Posted 04.10.2012 | Politics
Richard (RJ) Eskow

The Federal government and the Attorneys General from 49 states have signed a deal with five major banks over charges of fraud, including reported acts of widespread perjury and forgery, in the so-called "robo-signing" scandal.

Robo-Signing Bank Settlement Is a Criminal Sell Out

Dennis M. Kelleher | Posted 04.10.2012 | Business
Dennis M. Kelleher

The banks engaged in a years' long pattern of what can only be described as fraudulent if not criminal conduct that would put anyone else in prison for years if not decades, yet banks get to buy off the cops with some money to help just a few of the victims they created.

Janell Ross

What The Mortgage Settlement Won't Cover | Janell Ross | Posted 02.09.2012 | Business

On September 25, 2010, Monica and Ricardo Zapata should have been out celebrating their tenth wedding anniversary, or enjoying a candlelight dinner in...

The Long War

Mike Lux | Posted 04.10.2012 | Business
Mike Lux

We'll win some but we'll lose some, and some of the time we will do both at the same time. That is the story of the robo-signing settlement that has finally become a done deal after many long months of struggle over it.

America's Shadow Banking System: A Web of Financial Fraud

Ellen Brown | Posted 04.09.2012 | Business
Ellen Brown

Investigation is needed into not just whether massive robo-signing occurred but why it was being done. The alleged justification -- that the bankers were so busy that they cut corners -- hardly seems credible given the extent of the practice.

D.M. Levine

Robo-Signing Scandal Leads To Top Executive's Indictment In Missouri | D.M. Levine | Posted 02.09.2012 | Business

For the first time since the start of the robo-signing crisis, a senior executive has been indicted on criminal charges of forgery and faces jail. Th...

CSI Missouri: A "Robo-Signing" Indictment in the Show-Me State

Richard (RJ) Eskow | Posted 04.08.2012 | Business
Richard (RJ) Eskow

Forgery and perjury are serious crimes. It's an even more serious crime to ask others to do it for you.

California And New York Mulling Signing On To National Mortgage Deal

AP | DEREK KRAVITZ | Posted 04.07.2012 | Business

WASHINGTON — California and New York, the key holdouts in a long-awaited settlement over foreclosure abuses, moved closer Monday to backing a de...