Don’t Believe Everything You Read Dept.: Foreclosure Case in Massachusetts Gives New Protections to Homeowners

By: Friday June 22, 2012 12:56 pm

A ruling in a long-awaited foreclosure case in Massachusetts had an ambiguous result today, though it’s presented here by Nick Timiraos as a win for banks: The highest court in Massachusetts rejected a challenge from a Boston homeowner who had contested the validity of her foreclosure in a widely watched case that threatened to create [...]

Ally Comes Crawling Back to Massachusetts

By: Thursday March 15, 2012 6:55 am

Remember after Martha Coakley sued leading banks for illegal foreclosures in Massachusetts, when Ally Bank, one of the market leaders, stopped most of their lending in the state in a fit of pique? They actually only dropped their correspondent lending business, where a smaller bank does the origination and they pick up the loan later. [...]

Massachusetts, Florida Look to Wrap Up Foreclosure Due Process

By: Thursday March 1, 2012 7:07 am

As much as state and federal officials want to describe the foreclosure fraud settlement as a beginning, in many respects it was most certainly an ending. Analysts invested in the meme that “uncertainty” was crippling the housing market now are heavily invested in saying that the clearing of this uncertainty through the settlement will speed [...]

MA AG Coakley Lawsuit Against Banks Ripped to Shreds in Settlement

By: Thursday February 9, 2012 11:56 am

So here’s one lagging mystery about the foreclosure fraud settlement: what becomes of Massachusetts AG Martha Coakley’s lawsuit against five banks over deceptive practices and illegal foreclosures? Now we know. Coakley says in a release that she got a carve-out over certain types of claims in the suit. Others, however, were extinguished in the settlement. [...]

Inside the Coakley Foreclosure Fraud Lawsuit

By: Thursday December 1, 2011 11:53 am

So we now have the complaint in Massachusetts Attorney General Martha Coakley’s lawsuit against five big banks for foreclosure fraud, the first lawsuit to directly target banks for robo-signing (Catherine Cortez Masto in Nevada went after some low-level employees of document processing company LPS, but hasn’t worked her way up to the banks yet). Simply [...]

10,000 GMAC Foreclosures Stopped in Maryland

By: Sunday January 16, 2011 7:00 am

In a major ruling Friday, a coalition of nonprofit defense lawyers and consumer protection advocates in Maryland successfully got over 10,000 foreclosure cases managed by GMAC Mortgage tossed out, because affidavits in the cases were signed by Jeffrey Stephan, the infamous GMAC “robo-signer” who attested to the authenticity of foreclosure documents without any knowledge about [...]

Banks, Allies Circling Wagons After Ibanez Ruling

By: Thursday January 13, 2011 1:22 pm

According to the Treasury Department’s schedule, Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan met with “leaders of unions, civil rights and minority advocacy groups to discuss the Administration’s foreclosure prevention efforts.” So far, I haven’t found one person active in the foreclosure fraud crisis who even knew about this meeting before this announcement. [...]

Banks, Allies Trot Out Rebuttals on Foreclosure Fraud

By: Monday January 10, 2011 2:25 pm

Practically every time that foreclosure victims and consumer advocates have made gains during the foreclosure fraud scandal, either through the courts or through the court of public opinion, the banks have revved up their fleet of top-flight lawyers and PR flaks to try and minimize the fallout. They’ve let nothing go unanswered, and have often [...]

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