Peace out, Bill! Don’t let the door hit you on the way out!

Bill Erbey is walking toward the exit.

The chairman of Ocwen Financial, the beleaguered mortgage servicing company, is expected to step down from his position Friday after more than 27 years on the job — his reputation shredded and his net worth tattered.

Years of regulatory investigations into alleged foreclosure and mortgage -financing shenanigans caught up with Erbey last year.

Read on.

The banks have fought their war against financial reform on four fronts.

They have pushed for delays, lobbied allies in Congress to repeal aspects of Dodd-Frank, worked over regulators to make the rules as loose as possible and threatened legal challenges and filed lawsuits.

The battle has been overwhelming, with a scrappy band of pro-reform rebels outnumbered and overpowered by the empire’s resources. The public appears to be on the side of the insurgents, but perhaps can’t follow or understand debates about whether “swaps” — what are those? — should be “pushed out” or not — what’s that? (English translation below.)

During all of these fights, the banks have had a stalwart ally holding back greater reform: Establishment Democrats.

Such Democrats, the Robert E. Rubin wing of the Democratic Party, opposed moves to break up the big banks after the 2008 global crisis. These stalwarts prevented a reinstatement of the…

Banks under assault?? Please…..

We should all do so well while under assault.

JPMorgan Chase earned $4.9 billion in the fourth quarter of 2014, the companyannounced on Wednesday, down from a year ago, but capping what CEO Jamie Dimon called a record year for the biggest U.S. bank by assets.

Despite this success, Dimon warned that “banks are under assault,” from government regulators.

“In the old days,” Dimon said, “you dealt with one regulator when you had an issue, maybe two. “Now it’s five or six. It makes it very difficult and very complicated.

“You all should ask the question about how American that is. And how fair that is,” he added. “And how complex that is for companies.”

Read on.

Law360, Los Angeles (January 13, 2015, 10:48 PM ET) — The U.S. House of Representatives held off on voting on a bill Tuesday that would take some of the teeth out of the Dodd-Frank Act by easing Volcker Rule requirements and keeping the U.S. Securities and Exchange Commission from regulating some private equity outfits as brokerage firms.

The lawmakers debated for an hour on the Republican-anointed “Promoting Job Creation and Reducing Small Business Burden Act,” a measure to make “technical corrections” to Dodd-Frank and ease the requirements in it under the Volcker Rule, which restrains proprietary…

Source: Law360

My Court History website:

This is the trailer of the film of the first hand experience of the film maker, Doug Boggs, and what he uncovered in his personal fraudulent foreclosure process and the subsequent legal battle against Wells Fargo Bank while acting as his own attorney through the state of CA Superior, Appeals, Supreme, and Federal court systems.

This film shows the depth of the fraud of the foreclosure system, the failure of the justice system, the corruption of Wall Street and the illegalities of the Securitization of mortgages.

This documentary delves into how someone with NO mortgage is foreclosed on, how a homeowner can be current on their mortgage and still be foreclosed on, how there is a very high chance that the bank foreclosing on any property has NO right to do so, and how many of the banks that collect the money for a mortgage every…

As reported in our blog article below, in June the Second District Court of Appeal held that California’s non-judicial foreclosure statutes do not grant a defaulting borrower the right to enjoin a foreclosure sale by alleging that the lender lacks standing. (Keshtgar v. U.S. Bank, N.A. (2014) 226 Cal.App.4th 1201.)

The California Supreme Court recently granted review of the Keshtgar decision and deferred briefing until resolution of a related matter entitled Yvanova v. New Century Mortgage Corp.

The court has also granted review of Mendoza v. JPMorgan Chase Bankand deferred briefing until resolution of Yvanova.

The grant of review in Yvanova is limited to a single issue: “In an action for wrongful foreclosure on a deed of trust securing a home loan, does the borrower have standing to challenge an assignment of the note and deed of trust on the basis of defects allegedly rendering the assignment void?”