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Foreclosure Fraud

Groups Say Iowa AG Retreats From Promise To Be Tough On Robo-Sign Banks

The Huffington Post | Yepoka Yeebo | Posted 05.25.2011 | Business

This post has been updated The attorney general leading the investigation into "robo-signing" mortgage companies may be backtracking on promises to h...

Requiem for MERS (and the Banks That Created the Frankenstein Monster)

L. Randall Wray | Posted 05.25.2011 | Business
L. Randall Wray

MERS will not survive more than a few short weeks. It has virtually no employees, no loss reserves, no capital. Its record-keeping is a joke. And it is all that is standing between the biggest banks and Armageddon.

JP Morgan-Chase "Accidentally" Foreclosed on Military Mortgages: Violated Decades of Existing Law

Torrey Shannon | Posted 05.25.2011 | Business
Torrey Shannon

Earlier today, and other news agencies reported a big win for a Marine who fought a 5-year legal battle with the behemoth mortgage institution, JP Morgan-Chase.

State AGs: Foreclosure Reform Deal With Banks Is A Long Way Off

New York Times | DAVID STREITFELD and NELSON D. SCHWARTZ | Posted 05.25.2011 | Business

Changing the face of foreclosure in America will take some time, several state attorneys general said Wednesday, cautioning that an agreement with maj...

Banks Are Escaping Big Foreclosure Class Action Lawsuits

Posted 05.25.2011 | Business

SAN FRANCISCO (By Dan Levine) - Lenders snarled in the legal thicket over shoddy U.S. foreclosure procedures have so far avoided national class actio...

Blame the Victims and Enrich the Perpetrators

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

Despite evidence of widespread interconnected mortgage lending, securitization, and foreclosure wrong-doing across the financial sector, there are no meaningful felony indictments.

How The Foreclosure Mess Could Hurt The Recovery

The Huffington Post | Abby Wendle | Posted 05.25.2011 | Business

Hopes for economic improvement this year are being threatened by the lingering mess of unresolved foreclosures. Alleged foreclosure fraud committed...

NY Judges Hold Foreclosure Lawyers Responsible For 'Ludicrous' Filings

The Huffington Post | Abby Wendle | Posted 05.25.2011 | Business

As foreclosure cases continue to pour into courts, judges in New York are holding their fellow legal professionals accountable for their role in perpe...

CHART: Florida AG's Disturbing Foreclosure Fraud Presentation

The Huffington Post | Abby Wendle | Posted 05.25.2011 | Business

In their effort to sniff out foreclosure fraud, Florida regulators followed the trails of mortgage and foreclosure paperwork into a world of alleged f...

The Foreclosure Fraud Scandal Just Got Harder to Ignore

Kevin Connor | Posted 05.25.2011 | Business
Kevin Connor

When the foreclosure fraud scandal hits the front pages again, and threatens to hurt powerful financial institutions -- rather than just the powerless -- will the Wall Street-White House syndicate keep pushing the paperwork canard?

Zach Carter

Fed CAVES On Foreclosure Regulations | Zach Carter | Posted 05.25.2011 | Business

WASHINGTON -- The Federal Reserve has reversed its opposition to new rules reining in foreclosure abuses, and will support stronger regulations on the...

Laura Bassett

Loan Modification Scam Pushing Working Parents Toward Bankruptcy | Laura Bassett | Posted 05.25.2011 | Business

Merrill and Jodi Z. of Jersey City, N.J., say they're feeding their four kids breakfast for dinner every night since they fell for a mortgage modifica...

Zach Carter

Honey, I Shrunk The Credit Score | Zach Carter | Posted 05.25.2011 | Business

Steven Marks knew he was wasting thousands of dollars every month paying the mortgage on a home he bought during the housing bubble that will never be...

Top Lenders Reportedly Near Settlement With States Over Foreclosure Issues

Posted 05.25.2011 | Business

BANGALORE: The five largest mortgage loan servicers, including Bank of America Corp. and JPMorgan Chase & Co., may be the first to settle with 50 st...

'Robo-Signing' Not Limited To Foreclosure Paperwork | DAVID SEGAL | Posted 05.25.2011 | Business

Banks have been under siege in recent weeks for widespread corner-cutting in the rush to process delinquent mortgages. The accusations have stirred ou...

Bank Of America To Meet With States In Foreclosure Probe

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — Wells Fargo admitted Wednesday it made mistakes in the paperwork for thousands of foreclosure cases and promised to fix them. The ...

No Home for Xmas: Can Labor -- or Anyone -- Stop the Foreclosure Mess?

Art Levine | Posted 05.25.2011 | Business
Art Levine

Protesters' voices should be heard if the Democrats have a chance of showing the public that they're willing to stand for the needs of average citizens against Wall Street.

The GOP and the Banks: Cutting the Garlic Budget as the Vampires Attack

Richard (RJ) Eskow | Posted 05.25.2011 | Business
Richard (RJ) Eskow

Like vampires, America's banks are creatures who were brought back from the dead through the public's generosity. Now they're feasting on the rest of us again, while politicians work to rob us of the few tools we can use to defend ourselves.

Bank Of America Accused Of Breaking Into Woman's Home, Taking Husband's Ashes

The Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

Bank of America has seen easier days. The bank been reportedly identified as a target by WikiLeaks -- it reportedly maintains a war room to defend aga...

Zach Carter

Senate Kills Foreclosure Aid | Zach Carter | Posted 05.25.2011 | Business

WASHINGTON -- Despite mounting evidence of big banks committing serious fraud in the foreclosure process, the U.S. Senate eliminated $35 million in le...

U.S. Launches Investigation Into Possible Criminal Violations In Foreclosure Crisis | Zachary A. Goldfarb | Posted 05.25.2011 | Business

The Obama administration's Financial Fraud Enforcement Task Force is in the early stages of an investigation into whether banks and other companies th...

Mortgage Fraud Summit Reveals Both Systemic Fraud and FBI's Seeming Blind Eye

Suzanne O'Keeffe | Posted 05.25.2011 | Business
Suzanne O'Keeffe

To combat mortgage and foreclosure fraud, we first need to understand the nature of the fraud. There are the small-potato schemes -- the loan modifica...

Trapped in Bank of America Hell

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

Are you one of the lucky ones? Have a good job, live in a nice neighborhood, enjoy your cozy home? Think foreclosure only impacts the reckless or the unemployed? Think again.

Arthur Delaney

Nationwide Investigator: 'We Will Put People In Jail' For Foreclosure Fraud | Arthur Delaney | Posted 05.25.2011 | Politics

The leader of a nationwide investigation of foreclosure fraud told homeowners Tuesday that the probe will have some serious consequences for bankers. ...

Senate Foreclosure Hearing Set For November

Reuters | Posted 05.25.2011 | Politics

The Senate Banking Committee will hold hearings after next month's elections to look into allegations that the nation's largest lenders have improperl...