By Dwight Haskins..

It is starting to make more sense why I was denied justice when I had a strong case and more than enough evidence to convince any impartial jury. The government could not afford to allow me to have my case heard. Had they done so, my evidence would also have supported the fired examiner at the Federal Reserve Bank of New York with her whistleblowing case. The bank examiner at the Fed, Carmen Segarra, allegedly turned in a negative assessment of Goldman Sachs. When she refused her supervisors’ demands to change the rating assessment, she was escorted out of the building and fired.

The Federal Reserve Bank of New York was able to get the judge to throw out the case for the slightest technical reason — in fact, any independent legal authority will attest that the judge misapplied the law. Judge Ronnie Abrams, an Obama appointee…

Fannie Mae website:

Callie Dosberg

202-752-3117

WASHINGTON, DC – Fannie Mae (FNMA/OTC) and Freddie Mac (OTCQB: FMCC) today jointly announced that the first chief executive officer (CEO) has been named for Common Securitization Solutions, LLC (CSS), which was established by the companies to build and operate the Common Securitization Platform (CSP), a new secondary mortgage market infrastructure. Additionally, Fannie Mae and Freddie Mac each appointed two executives to the CSS Board of Managers and signed governance and operating agreements for CSS.

David M. Applegate, who led both GMAC Mortgage and GMAC Bank during a 17-year career at General Motors Acceptance Corporation, has been appointed chief executive officer of CSS. Applegate brings more than 20 years of mortgage and banking experience to his new leadership role at CSS.

Prior to joining CSS, Applegate was president, CEO and director of Homeward Residential, Inc., a Dallas-based mortgage lender and servicer with assets of…

Fannie Mae and Freddie Mac have taken another step in the development and day-to-day management of a single GSE bond by joining together in the formation of a new company.

The two companies established Common Securitization Solutions, a jointly owned limited liability company, with the goal of facilitating the design and eventual implementation of the single GSE bond through the Common Securitization Platform.

Common Securitization Solutions will operate the Common Securitization Platform once it is established, although there has been no acknowledgment of a specific timeline for the development of either the single GSE bond or the Common Securitization Platform to this point.

When the GSE’s conservator, the Federal Housing Finance Agency, released its proposal for the “Single Security” in August, the agency said that it would take “multiple years” to build the single security.

Read on.

Remember this LIBOR class action case two years ago? From attorney John Walter Sharbrough law website:

Interest Rate Fixing
LIBOR Adjustable Rate Mortgage (ARM) Litigation

John W. Sharbrough, III, filed the first action on behalf of homeowners against the world’s largest banks for manipulating the London Interbank Offered Rate (“LIBOR”).  The LIBOR rate has been called the most important interest rate in the world.  The LIBOR index is used to set the interest rates on almost all adjustable rate mortgages and many other loans.

The banks charged with illegal manipulations include the following:

Bank of America Corporation
Barclays Bank, PLC
Citigroup Inc.
Citibank, N.A.
HSBC PLC
JPMorgan Chase & Co.
Chase Bank USA
Credit Suisse Group, AG
Deutsche Bank AG
Royal Bank of Canada
Royal Bank of Scotland
UBS AG

This case is pending in the United States District Court for the Southern District of New York.  The complaint…

The three-year-old U.S. consumer protection agency said it discovered that the largest mortgage servicers have been mishandling loan modifications and harming borrowers since new rules came into effect in January.

Consumer Financial Protection Bureau supervisors have made spot checks to examine the books and practices of bank and nonbank servicers, the agency said in a report yesterday, without naming the firms. Supervisors found “substantial delays” in modifying loans that resulted in “negative consequences,” such as higher mortgage payments and unjustified blemishes on borrowers’ credit reports, the report said.

“All borrowers should be treated fairly by loan servicers, and through our supervision program, we intend to hold them accountable,” Richard Cordray, the CFPB director, said in a statement.

Read on.