State Attorney Generals Schneiderman and Coakley Call For DeMarco To Go

By: Wednesday April 3, 2013 11:04 am

New York Attorney General Eric Schneiderman and Massachusetts Attorney General Martha Coakley have called for Federal Housing Finance Agency head and notorious Wall Street puppet Edward DeMarco to be removed from office. In an op-ed in Politico, Schneiderman and Coakley join a long line of critics noting DeMarco’s commitment to screwing homeowners. Last week, we [...]

Foreclosure Fraud Settlement Update: Checks to Victims, Servicing Standards, Ongoing Lawsuits

By: Thursday September 27, 2012 6:56 am

A number of states have announced that they are sending out claim forms to foreclosure victims who are eligible for a one-time cash payment under the foreclosure fraud settlement. $1.5 billion has been earmarked for roughly 750,000 homeowners (depending on takeup) who were foreclosed upon between Jan. 1, 2008, and Dec. 31, 2011, by one [...]

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. [...]

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. [...]

Justice Democrats Still Angling for Changes in Foreclosure Fraud Settlement Deal

By: Tuesday February 7, 2012 6:54 am

Well, the deadline for state Attorneys General to sign on to the foreclosure fraud settlement came and went yesterday, and the major holdouts – the Justice Democrats, the AGs from the five states who have objected to the settlement all along (Nevada, New York, California, Delaware, and Massachusetts), still aren’t signed on. Catherine Cortez Masto [...]

Report: Massachusetts, Nevada Would Have to Give Up Foreclosure Fraud Suits to Join Deal

By: Monday February 6, 2012 10:11 am

We learned on Friday that Eric Schneiderman’s suit against MERS and three banks using MERS represented a carve-out on the final foreclosure fraud settlement. There was speculation, stoked by HUD Secretary Shaun Donovan, that other states might have carve-outs or grandfathered suits, so they would be able to pursue those investigations and prosecutions and still [...]

Justice Democrats Still Holding Out on Foreclosure Fraud Settlement

By: Tuesday January 24, 2012 7:01 am

The New York Times describes the foreclosure fraud settlement in terms of inches. They say that a deal is “closer,” but they give little evidence to back that up. In fact, there’s more evidence here that the key AGs involved, who did not personally attend Monday’s session in Chicago with Shaun Donovan and other Administration [...]

Knives Come Out Against Martha Coakley, Who Dares Try to Hold Banks Accountable

By: Thursday December 8, 2011 10:58 am

It was inevitable that some apologist would claim that Martha Coakley actually holding banks accountable for following the law would stunt the nation’s recovery and cause us all to queue up on soup lines. That ignominious honor goes to Liz Peek of the Fiscal Times (a Fox News contributor). I apologize in advance for the [...]

Petty GMAC Mortgage Stops Most of Its Lending in Massachusetts

By: Friday December 2, 2011 12:15 pm

Martha Coakley’s lawsuit against big banks for foreclosure fraud has already had one dramatic consequence. GMAC Mortgage, the lender for Ally Bank, and one of the five banks named in the lawsuit, has pulled out of Massachusetts. And they’re being really whiny about it: The nation’s fifth-largest mortgage originator said it “has taken this action [...]

While Coakley Sues Banks, Treasury Goes After Penny-Ante Mortgage Thieves

By: Thursday December 1, 2011 1:58 pm

Emptywheel got there first, but I wanted to add something. On the same day that Martha Coakley sued five banks for systematically stealing homes, the Treasury Department, the CFPB and the Special Inspector General for TARP have announced a task force. Not to go after those same banks, based on the evidence of systematic fraud. [...]

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 [...]

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