Register of Deeds Jeff Thigpen Meeting with President Obama Today

By: Friday June 17, 2011 10:49 am

Time for some more surprises. I have written about registers of deeds and their role in the foreclosure crisis extensively, in particular the work of Jeff Thigpen, the North Carolina-based register who checked thousands of documents in his recording office and found all kinds of irregularities. Thigpen and a few other registers have attempted for [...]

Register of Deeds O’Brien Rejects Fraudulent Foreclosure Documents

By: Tuesday June 7, 2011 12:02 pm

Shahien Nasiripour’s latest on the foreclosure fraud settlement asserts that mortgage servicers expect to pay up to $20 billion to settle legal claims from state and federal regulators. They apparently have gotten the message that the fraud allegations are serious enough to rise to this standard. But the talks have not ironed out how much [...]

South Carolina Places Moratorium on All Foreclosures

By: Tuesday May 3, 2011 12:43 pm

With the consent order delivered by federal regulators and a lull in the state Attorney General investigation, you would think that nothing is happening on the foreclosure fraud front. At least, that’s what the banks would like you to think. But the truth is that judges continue to edge toward accountability for acts of fraud. [...]

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 [...]

After Robo-Signing… Robo-Verifying?

By: Friday December 24, 2010 9:20 am

When the biggest banks shut down their foreclosure operations, they claimed they would undertake a comprehensive review of all the loans involved in robo-signing to ensure that the foreclosures were legitimate. They promised a thorough verification process. Just weeks later, the banks pronounced themselves ready to reopen these cases and foreclose again. Many were skeptical [...]

Pennsylvania Case Shows More Problems for Lenders in Containing Foreclosure Fraud Damage

By: Monday December 6, 2010 1:35 pm

I mentioned on Friday the case in Pennsylvania the foreclosure mill law firm getting sanctioned in state courts for having non-lawyers perform foreclosures. Yves Smith explains why this is far more consequential than robo-signing. Robo signing, while a fraud on the court, does not necessarily invalidate the underlying legal action. Even a punitive judge is [...]

Linda Green Robo-Signing Shows Massive Document Fraud

By: Wednesday November 24, 2010 9:14 am

One reason why lawyers were so quick to see the patterns in robo-signing and mortgage documentation problems was that the same names kept cropping up on every single mortgage assignment. And the names would be listed as a Vice President and Assistant Secretary of one mortgage company in one note, and another mortgage company in [...]

Screwing Customers is the Banks’ M.O.

By: Monday November 1, 2010 11:15 am

As Yves says, if you thought the mortgage servicers used robo-signers, wait until you see what the debt collectors do! While we have seen abuses aplenty in mortgage-land over the last six weeks, they pale compared to normal practices in the debt collection arena. Some factoids from a New York Times story: Debt collection robo [...]

BofA, Citi Claim That Everything’s Fine Now

By: Monday October 18, 2010 1:44 pm

Bank of America, which suspended its foreclosure operations in all 50 states, has now started to prepare new affidavits for 102,000 pending cases, to comply with all relevant state laws. By Oct. 25, a spokesman said, the Charlotte, N.C., bank expects the new affidavits to be resubmitted to the courts and foreclosure sales will resume [...]

Let’s Not Start Lionizing the Real Foreclosure Fraud Deadbeats – the Banks

By: Thursday October 14, 2010 6:15 am

Lost in the frenzy surrounding a potential foreclosure moratorium is the fact that foreclosures just hummed along at a record clip in September, before the “troubles” began. Foreclosure filings were reported on 347,420 U.S. properties in September, an increase of nearly 3 percent from the previous month and an increase of 1 percent from September [...]

Florida Rocket Docket Reveals Need for Moratorium

By: Wednesday October 13, 2010 7:50 am

If you still think that a world without foreclosures is like a world without sunshine, and that a moratorium would be CATASTROPHIC!!!, you need to take a look at what’s been happening in Florida. The state, with its major housing crash, has become the hub of foreclosure fraud, with the state government making an effort [...]

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