Interesting…

Wells Fargo WFC, +0.54% Chief Executive Timothy Sloan received total compensation of $18.4 million in 2018, according to the bank’s proxy statement released Wednesday, an increase of $1 million. Though his performance share award was $1 million less, he received a $2 million annual incentive due to what the bank called his “continued leadership on the Company’s top priority of rebuilding trust, and his performance against his 2018 individual qualitative performance objectives.”

Read on.

By Sydney Sullivan

The main focus on The Foreclosure Hour this week, Blackrock & PIMCO, et al v. U.S. BANK NATIONAL ASSOCIATION, was so powerful it deserves to be highlighted. As usual legal protocol, the Plaintiffs’ claims are accepted by the court to be true. For example, the next move for the Defendant might be to file a motion to dismiss, a court must accept all well-pleaded facts as true, viewing the facts in the light most favorable to the plaintiff.

WARNING: The contents of this complaint is likely to make certain foreclosure judges with hefty Plaintiff hedge funds preferred shares in their investment portfolios extremely nauseous.

Plaintiffs Blackrock & PIMCO and a multitude of subsidiaries, affiliates, associates, closely related and closely held companies for each sued U.S. BANK NATIONAL  ASSOCIATION for BREACH OF CONTRACT; VIOLATION OF THE TRUST INDENTURE ACT OF 1939; BREACH OF FIDUCIARY DUTY; BREACH OF DUTY OF INDEPENDENCE; AND NEGLIGENCE. 

Europeans are a stone’s throw across the pond and what happens there eventually, like the Beatles, happens here. Many in the Euro-zone are asking each other and themselves:

“Is your money safe in the bank? Obviously not if you deposited large sums in Cyprus – where the decision to raid savings accounts has rung alarm bells in other countries teetering on the bank bailout high-wire,” postsGiles Tremlett of the UK’s Guardian News.

In re Vertullo, 593 B.R. 92 (Bankr. D. N.H. 2018) –

A mortgagee that sold a chapter 13 debtor’s home in a prepetition foreclosure auction but had not yet recorded a foreclosure deed sought relief from the automatic stay in order to evict the debtor. In the meantime, the debtor filed a plan that proposed to cure the prepetition mortgage defaults and continue payments. The bankruptcy court had to decide whether the mortgagee had completed the foreclosure sale within the meaning of the Bankruptcy Code and whether the debtor retained sufficient interest in the property to allow her to exercise a right to cure the mortgage defaults.

AMERICANS AGAINST FORECLOSURES ( AAF ) EVIDENCE OF JUDGES ON THE TAKE IN UNLAWFUL FORECLOSURES?

Apparently the worse nightmare for over 2mm homeless families as a result of unlawful foreclosures has just come true. Judges might have been on the take and not objective according to a recent testimony by a Judge in Florida.

Americans Against Foreclosures ( AAF ) has decided to join the independent international civil and political rights Organization known as Actions for Justice ( AXJ ) to investigate and get to the bottom of it. www.aaf.news