Posted by kevin on September 29, 2011 under Foreclosure Blog | 
This is a part of the game that the consumer does not see. The SEC is investigating Credit Suisse and RBS for misleading investors as to the number of bad loans that had to be repurchased (or should have been repurchased) by the originators for failure to live up to the warranties and representations made in the Pooling & Servicing Agreements (PSA) or other like documents.
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Posted by kevin on September 15, 2011 under Foreclosure Blog |
Almost every client that I interview has a story about how he or she was jerked around unmercifully by a servicer. Some servicers suggest that payments not be made so that the borrower can apply for a HAMP. Others “lose” paperwork more than once. Others take 7-8 payments instead of the required 3 and then deny a permanent modification.
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Posted by kevin on September 7, 2011 under Foreclosure Blog |
A few weeks ago, things were looking good for the “too big to fail” predatory banks. The feds (FDIC) were ready to make a deal. Most of the State AG’s were backing off. The carnivore, Schneiderman, was dumped from the leadership group of AG’s. In NJ, the big lenders got the OK to continue foreclosing with new and improved certifications (looked eerily like the old and unimproved certifications to me). A couple of zigs and a couple of zags, and the banks could get out of this mess. Then, last Friday the Federal Housing Finance Agency, the overseer of FANNIE MAE and FREDDIE MAC, filed lawsuits against every major lender in sight claiming fraud and demanding upwards of $50B.
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Posted by kevin on September 6, 2011 under Foreclosure Blog |
If you have been checking into this blog with any frequency, you know that we are providing both facts and comments on what is happening in foreclosure defense, especially in New Jersey. We are giving you cutting edge information- what the law is and where it is going; what settlement strategies are bearing fruit; how the trial courts are reacting to issues and how the appellate courts are reacting to the trial courts.
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