Thursday - November 22, 2012 - ForeclosureGate Gazette
Content
THURSDAY, NOVEMBER 22, 2012
ACADEMIA
ADVERSARIES
ADVOCATES
BLOGOSPHERE
LEGAL
LEGISLATE
OP-ED
HOMEOWNERS NEWS
ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners
The Lorraine Brown Case: Accountability for Fraudulent Document Preparers, Not the Banks Who Requested the Documents The Justice Department has issued their formal press release in the plea arrangement with Lorraine Brown, the former President of fraudulent foreclosure document processor DocX, a division of LPS. Brown pleaded guilty to wire and mail fraud and faces five years in prison and up to $250,000 in fines, from what DoJ describes as “a sixyear scheme to prepare and file more than 1 million fraudulently signed and notarized mortgage-related documents with property recorders’ offices throughout the United States.” She also acknowledged lying to the FBI and other federal regulators investigating the scheme….
Banks Attempting to Fight MERS Decision With Public Relations The banks are threatening to slow down lending because of the Oregon MERS decision. They want to be fear in the hearts of realtors and sellers alike who will no doubt be recruited to join in lobbying efforts to change the law in Oregon to allow MERS in the chain of title. People who live in Oregon should be VERY vigilant to see that such a provision doesn’t get tacked onto to some innocuous bill that has nothing to do with MER….
Guilty Pleas in Foreclosure Fraud Cases “If citizens had filed these types of documents with a bank in an attempt to get a loan, the banks would have filed criminal cases against them,” Mr. Koster said. “The mortgage servicing industry has to be held to the same standard that the banks hold the rest of us to.”….............. The founder and former president of DocX, once one of the nation’s largest foreclosure-processing companies, pleaded guilty on Tuesday to fraud in one of the few criminal cases to have arisen….
Why Freddie Mac Resisted Refis Freddie Mac, the taxpayer-owned mortgage giant, made it harder for millions of Americans to refinance their high-interest-rate mortgages for fear it would cut into company profits, present and former Freddie Mac officials disclosed in recent interviews. In closed door meetings, two Republican-leaning board members and at least one executive resisted a mass refi policy for an additional reason, according to the interviews: They regarded it as a backdoor economic….
The Growth of Modern Finance ABSTRACT The U.S. financial services industry grew from 4.9% of GDP in 1980 to 7.9% of GDP in 2007. A sizeable portion of the growth can be explained by rising asset management fees, which in turn were driven by increases in the valuation of tradable assets, particularly equity. Another important factor was growth in fees associated with an expansion in household credit, particularly fees associated with residential mortgages....
DeMarco Shrinks Fannie-Freddie Help From Congress
Without
Bernanke Speaks on Impact of Crises on Minorities, Low-Income Families “Lower-income and minority communities are often disproportionately affected by problems in the national economy, and the effects of the housing bust have followed that unfortunate pattern,” Bernanke stated. He pointed out that while homeownership has declined for the nation overall, the decline has been steepest among households with incomes of $20,000 or less….
The man with power over more than half of U.S. mortgages lives in a 1961 brick split-level house. There’s a basketball hoop in the driveway and a green Subaru Outback in the carport. The homes on Edward J. DeMarco’s block are so close that neighbors see into each other’s windows. This surprised several dozen demonstrators, one in a vampire costume, who arrived at DeMarco’s….
US Senator-Elect Elizabeth Warren: You Go Girl ! Reform the Filibuster Far too often, we've seen good ideas stall in the Senate because a single Senator can stop everything without a single word uttered on the Senate floor. In a few short weeks, we can reform the filibuster. But it won't be easy. And it's going to require that the American people speak with one, clear, loud voice. Take action now: Tell the Senate to fix the filibuster. Thank you.
>>>>>>> ‘Mortgage Seizure Via Eminent Domain For Community Stabilization’ Debate And News Updated Daily http://paper.li/EmDomainDebate/1342319964
ACADEMIA
ADVERSARIES
ADVOCATES
BLOGOSPHERE
LEGAL
LEGISLATE
OP-ED
HOMEOWNERS NEWS
ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners
The Lorraine Brown Case: Accountability for Fraudulent Document Preparers, Not the Banks Who Requested the Documents The Justice Department has issued their formal press release in the plea arrangement with Lorraine Brown, the former President of fraudulent foreclosure document processor DocX, a division of LPS. Brown pleaded guilty to wire and mail fraud and faces five years in prison and up to $250,000 in fines, from what DoJ describes as “a sixyear scheme to prepare and file more than 1 million fraudulently signed and notarized mortgage-related documents with property recorders’ offices throughout the United States.” She also acknowledged lying to the FBI and other federal regulators investigating the scheme….
Banks Attempting to Fight MERS Decision With Public Relations The banks are threatening to slow down lending because of the Oregon MERS decision. They want to be fear in the hearts of realtors and sellers alike who will no doubt be recruited to join in lobbying efforts to change the law in Oregon to allow MERS in the chain of title. People who live in Oregon should be VERY vigilant to see that such a provision doesn’t get tacked onto to some innocuous bill that has nothing to do with MER….
Guilty Pleas in Foreclosure Fraud Cases “If citizens had filed these types of documents with a bank in an attempt to get a loan, the banks would have filed criminal cases against them,” Mr. Koster said. “The mortgage servicing industry has to be held to the same standard that the banks hold the rest of us to.”….............. The founder and former president of DocX, once one of the nation’s largest foreclosure-processing companies, pleaded guilty on Tuesday to fraud in one of the few criminal cases to have arisen….
Why Freddie Mac Resisted Refis Freddie Mac, the taxpayer-owned mortgage giant, made it harder for millions of Americans to refinance their high-interest-rate mortgages for fear it would cut into company profits, present and former Freddie Mac officials disclosed in recent interviews. In closed door meetings, two Republican-leaning board members and at least one executive resisted a mass refi policy for an additional reason, according to the interviews: They regarded it as a backdoor economic….
The Growth of Modern Finance ABSTRACT The U.S. financial services industry grew from 4.9% of GDP in 1980 to 7.9% of GDP in 2007. A sizeable portion of the growth can be explained by rising asset management fees, which in turn were driven by increases in the valuation of tradable assets, particularly equity. Another important factor was growth in fees associated with an expansion in household credit, particularly fees associated with residential mortgages....
DeMarco Shrinks Fannie-Freddie Help From Congress
Without
Bernanke Speaks on Impact of Crises on Minorities, Low-Income Families “Lower-income and minority communities are often disproportionately affected by problems in the national economy, and the effects of the housing bust have followed that unfortunate pattern,” Bernanke stated. He pointed out that while homeownership has declined for the nation overall, the decline has been steepest among households with incomes of $20,000 or less….
The man with power over more than half of U.S. mortgages lives in a 1961 brick split-level house. There’s a basketball hoop in the driveway and a green Subaru Outback in the carport. The homes on Edward J. DeMarco’s block are so close that neighbors see into each other’s windows. This surprised several dozen demonstrators, one in a vampire costume, who arrived at DeMarco’s….
US Senator-Elect Elizabeth Warren: You Go Girl ! Reform the Filibuster Far too often, we've seen good ideas stall in the Senate because a single Senator can stop everything without a single word uttered on the Senate floor. In a few short weeks, we can reform the filibuster. But it won't be easy. And it's going to require that the American people speak with one, clear, loud voice. Take action now: Tell the Senate to fix the filibuster. Thank you.
>>>>>>> ‘Mortgage Seizure Via Eminent Domain For Community Stabilization’ Debate And News Updated Daily http://paper.li/EmDomainDebate/1342319964
