And which making it impossible for Carrington or Wells Fargo to legally enforce the lien.

Wolf Transfer of Lien (NCMC to WF), 10.15.2009

Notice that from the Wolf vs. Wells Fargo lawsuit, the transfer of lien document was signed by Tom Croft, Vice President of REO for New Century Mortgage Corporation. Croft, according to Linkedin website of the Senior Vice President of REO for Carrington: https://www.linkedin.com/in/tom-croft-388a5613. There is a major problem: New Century filed bankruptcy in 2007 and Carrington Mortgage brought New Century. The second problem is the transfer of lien document was recorded in 2009. Here is the SEC filing for Carrington Mortgage Trust, Series 2006-NC3:

Wolf vs. Wells Fargo…

H/T Marie McDonnell

Now this is a joke since Citigroup lobbied and benefitted from the repealing of the Glass Steagall bill…

The former CEO of Citigroup just admitted to a huge mistake.

In an op-ed published in the Financial Times, John Reed says large banks like the one he used to run are now “inherently unstable and unworkable.”

The man who was one of the chief architects of the “Big Bank” model now says the United States never should have repealed the Glass-Steagall banking act in 1999.

That’s exactly what Democratic presidential hopefuls Bernie Sanders and Martin O’Malley have been arguing on the campaign trail. They want the law reinstated. Hillary Clinton and the Republican candidates do not.

As CEO of Citi (C)from 1984 to 2000, Reed was one of the main lobbyists advocating Congress and President Bill Clinton to get rid of the Glass-Steagall Act. It had been in place since…

Sandusky Register:

YOUR MORTGAGE LOAN HAS BEEN REFERRED TO OUR FIRM FOR FORECLOSURE

In a recent case, a homeowner whose loan is serviced by Wells Fargo presented a letter from a law firm which proclaimed at its beginning: “Your mortgage loan has been referred to us for foreclosure.”

Dated on the very same day, Wells Fargo sent the homeowner a financial package to complete in order to gain a mortgage workout. Since in our experience the loss mitigation or workout departments of mortgage servicers do not maintain communication with foreclosure counsel, it appears Wells Fargo has already decided to file foreclosure, even while it invites the homeowner to provide information designed to avoid it.

THE END RESULT

Of course the end result of this type of conduct is to put tremendous pressure on the poor homeowner to accept whatever sort of deal the mortgage company may want to offer, even a deal which may be built to fail.

Fortunately, this…

Imagine my surprise when I recently went to the FDIC website, clicked on FOIA at the bottom of the page, then went to Reading Room and looked again at the Chase-WAMU-FDIC-US Trustee Purchase and Assumption Agreement. Having previously read and studied it I was attempting to direct someone to the language that showed that no loans were purchased from WAMU basically because there were no loans in WAMU’s inventory. Staring me in the face was an entirely different document bearing the same date as the one that I had previously seen. Anyone who has an explanation of this is invited to write to me at neilfgarfield@hotmail.com.

In the interim between my first reading of the agreement and now, I had several conversations including the FDIC receiver who was appointed to “resolve” the WAMU bankruptcy. The receiver (Schoppe) told me that no loans had been purchased or listed as part of…

ORLANDO, Fla. —

Freddie Mac announced Monday that it intends to sell off $1.2 billion in non-performing loans, marking its eighth sale of non-performing loans since the Federal Housing Finance Agency announced the new requirements for sales of NPLs by Freddie Mac and Fannie Mae to make sure the loans go to capable mortgage servicers.

The loans are all “deeply delinquent,” according to Freddie Mac, and will be sold in seven pools.

The entire portfolio of loans are currently being serviced by Wells Fargo (WFC).

According to Freddie Mac, the sale will be conducted via auction, with all eligible bidders, including private investors, minority and women-owned businesses, non-profits and neighborhood advocacy funds encouraged to bid on the seven pools of loans.

Read on.

Mortgage News Daily:

And how ’bout that $85 million Fifth Third settlement last month involving an appraiser that ratted out, uh, blew the whistle on, his former employer? (It isn’t a stretch to forecast that tattle-tales, uh, whistleblowers, are a likely threat to those who remain in MSAs.) Snide comments aside, many believe that this type of activity levels the playing field for companies above reproach. Dave Gallegos sent along this story from Isaac Peck. “In what many see as a win for appraisers, as well as those lenders and appraisal management companies (AMCs) that do follow the law, Fifth Third Bank has agreed to pay nearly $85 million as part of a settlement with the U.S. Department of Justice (DOJ). The case deals primarily with fraudulent appraisal practices. The lead whistleblower in the case is George Mann, Fifth Third’s former chief appraiser.

“The settlement is the latest in…

Congress.. Living the thug life.. Can you imagine if you tell your boss that you are only working 111 days per year and the remainder of the year that you expect to be paid? I don’t think so. Your boss would show you to the door with a pink slip. Time for the American people to fire their Congress person, regardless of political party, who is not working for you.

Here is the 2016 Congressional calendar: