Kerry Finalized as Secretary of State Nominee

By: Friday December 21, 2012 9:15 am

Former Democratic Presidential candidate John Kerry will become the next nominee for Secretary of State, replacing Hillary Clinton and creating another Senate vacancy. President Obama will formally announce the nomination today at the White House, according to sources. He is not expected to face much resistance in the Senate for confirmation. Kerry will likely recuse [...]

Report: John Kerry to Be Named Secretary of State

By: Saturday December 15, 2012 11:20 am

Former Democratic Presidential candidate John Kerry has been chosen to serve as Secretary of State, according to a Chicago Sun-Times columnist who heard it from an unidentified White House source. This doesn’t exactly come from left field. Kerry, the chair of the Senate Foreign Relations Committee, was rumored to be on the short list for [...]

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 [...]

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 [...]

ALEC Wasn’t First Industry Trojan Horse Behind Sham Fracking Disclosure Bill – Enter CSG

By: Wednesday May 2, 2012 1:51 pm

Cross-Posted from DeSmogBlog 19th Century German statesman Otto von Bismarck once said, “If you like laws and sausages, you should never watch either one being made.” The American Legislative Exchange Council (ALEC), put on the map by the Center for Media and Democracy in its “ALEC Exposed” project, is the archetype of von Bismarck’s truism. So too are the fracking [...]

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. [...]

Schneiderman Settles Suit Against Banks for Use of MERS for Paltry $25 Million

By: Wednesday March 14, 2012 6:17 am

One of the big claims by defenders of the foreclosure fraud settlement is that it’s just a down payment on future actions. The release was narrow enough that state and federal regulators can still hold the banks accountable for their crimes. Why, even some active lawsuits were carved out to allow state AGs to pursue [...]

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 [...]

Bank Exposure on Fraudulent Document Issues Still Active, Dangerous

By: Tuesday February 21, 2012 11:35 am

Just because state and federal regulators reached a settlement with banks over foreclosure fraud – we think – doesn’t mean that the banks have rid themselves of their liabilities, even on these foreclosure fraud-related issues. A settlement cannot stop court rulings, to use one example. In Massachusetts, a new ruling by the state Supreme Court [...]

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. [...]

49-State Foreclosure Fraud Settlement Will Be Finalized Thursday

By: Wednesday February 8, 2012 8:15 pm

Forty-nine states, every one but Oklahoma, as well as federal regulators will participate in a foreclosure fraud settlement that will release the five biggest banks (Wells Fargo, Citi, Ally/GMAC, JPMorgan Chase and Bank of America) and their mortgage servicing units from liability for robo-signing and other forms of servicer abuse, in exchange for $25 billion [...]

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