If your next trip to the bank involved going to the drive-thru, you might find no one there to greet you. That could certainly be the case if you put your financial needs in the hands of Bank of America, which has plans to close some of its drive-thru windows this year.

Two newly released Opinions have been posted to the Arizona Supreme Court Opinions webpage. Please click on the links below for access. Basically they say that the borrower and guarantor are entitled to credit for the actual fair market value — not the value of the bid or any other formula. This could change 1099 tax forms filed, as well as attempts at collecting improper amounts for deficiencies. But note that many states, including Arizona (last time I heard) say that if the action is nonjudicial, there is no claim for deficiency anyway. If that is true in your jurisdiction, then ANY attempt to collect the deficiency might be an FDCPA violation entitling you to monetary damages.

CV-14-0029-PR CSA 13-101 LOOP v. LOOP 101 LLC et al

http://www.azcourts.gov/Portals/0/OpinionFiles/Supreme/2014/CV-14-0029-PR.pdf

CV-14-0132-PR BIGGS/TOBIN et al v. HON. COOPER/BREWER/BETLACH

http://www.azcourts.gov/Portals/0/OpinionFiles/Supreme/2014/CV-14-0132-PR.pdf

A good friend once said, “Perception becomes the reality.”

When opinion is accepted as fact, perception soon becomes reality, at least for those who share these opinions and cling to the resulting perceptions. Herein lies the reason for the division in America today and unless we make a concerted effort to separate perception from reality, opinion from fact, fiction from truth, that division will continue [JB Williams 2005].

While the President’s State of the Union speech was…

As The Washington Times reports,

After years of being blocked by Democratic leader Harry Reid, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve’s decision-making.

Once championed in Congress by former Rep. Ron Paul, the push to force the country’s central bank to undergo a full audit has been picked up by his son, Sen. Rand Paul, and others, and has the backing of the leader of the new Republican majority, Sen. Mitch McConnell, Kentucky Republican, whose office says the legislation will earn a floor vote.

But despite overwhelming support in the House, where the legislation has twice passed, the bill is not a sure thing in the Senate, and the Fed itself is pushing back. Chairwoman Janet L. Yellen said earlier this month the Fed remains opposed to stricter oversight of its monetary policy decisions…

One of the outstanding interviews after President Obama announced there would be an investigative task force into the Wall Street banks’ mortgage fraud was aired on The Rachel Maddow Show on Jan. 28, 2012.  It is a MUST WATCH TV interview – click here.

New York Attorney General Eric Super-Schneiderman has been appointed by President 

Another  shenanigans by Wall Street — aided and abetted by politicians owned by Wall Street. Never bothered to understand the definition of derivatives in which derivatives are not just a financial product…

The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.

Senator Elizabeth Warren charged Citigroup last week with “holding government funding hostage to ram through its government bailout provision.” At issue was a section in the omnibus budget bill repealing the Lincoln Amendment to the Dodd-Frank Act, which protected depositor funds by requiring the largest banks to push out a portion of their derivatives business into non-FDIC-insured subsidiaries.

Warren and Representative Maxine Waters came close to killing the spending bill because…

If Ocwen Financial (OCN) thought that its regulatory troubles were over now that it settled with the New York Department of Financial Services for $150 million, the beleaguered company has another thing coming, according to Morningstar.

In a note to clients, Morningstar analysts say that the real cost of the NYDFS settlement will definitely be more than the $150 million Ocwen must pay to homeowners in New York.

In Morningstar’s analysts’ opinion, Ocwen’s real losses may be the loss of soon-to-be former chairman William Erbey, who is being forced to resign as part of the NYDFS settlement, as well as settlement terms that require ongoing monitoring of corporate governance and a ban on acquiring mortgage servicing rights until certain process and technology improvements are implemented to the satisfaction of the NYDFS.

“The real cost of compliance with the terms will undoubtedly be greater than the $150…