Abraham Lincoln is well known for being our 16th president and a resident of Illinois, but his story starts in Kentucky—where he was born and from where his family was forced to move due to land title issues.
Wonder if the fact that many states hold the manager and officers of LLC personally liable for the costs and damages of deceptive business practices had anything to do with his departure?
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On November 20, 2014, Wilbur L. Ross, Jr. notified the Board of Directors (the “Board”) of Ocwen Financial Corporation (the “Company”) of his decision to resign as a director on the Board effective immediately as a result of his election as Vice Chairman of Bank of Cyprus and the requirements of certain European regulations which limit directorships of bank officers. Mr. Ross is simultaneously resigning from the board of directors of several other public companies. Mr. Ross’ decision to resign as a director was not due to any disagreements with the Company on any matter relating to the Company’s operations, policies or practices.
And how many “verifiers” actually provided the declarations! More than you realize are unable to be located, didn’t actually sign the documents, left the company before the documents were crafted… Talk about identity theft…
Cross-posted from The Law Offices of Evan M. Rosen
The deposition of Lona Hunt took place on October 17, 2014, during which time Ms. Hunt was questioned about her knowledge of the truth and accuracy of the facts in the foreclosure complaint, which she allegedly verified. During the deposition, Ms. Hunt admitted twice that she did not read the complaint, even though she swore, in the complaint,under penalty of perjury, that she had. Further, with her limited knowledge, it was impossible for her to truthfully and accurately verify all the facts alleged in the complaint. Our blog post on this with more detail is here.
After the deposition, we quickly prepared, filed and set down for hearing a Motion to Strike Verification of the Complaint as a Sham. The hearing was set for next week and we were looking forward to seeing the look on the judge’s…
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Too bad the assholes couldn’t come to their senses in 2008 and saved 14 million American families from foreclosure, distress and death.
Great job Senator Warren for putting the pressure on FHFA head Mel Watt!
Fannie Mae (FNMA) and Freddie Mac will let borrowers who have gone through foreclosure buy back their homes at market prices under a policy shift announced by the regulator for the two U.S.-owned companies.
The change outlined by the Federal Housing Finance Agency in a statement today essentially gives some people who owe more than their homes are worth a way to cut mortgage debt. The step follows criticism consumer groups and some Democratic lawmakers who have called for broader principal reduction for homeowners.
“This is a targeted, but important policy change that should help reduce property vacancies and stabilize home values and neighborhoods,” FHFA Director Melvin L. Watt said in the agency’s statement.
The Wall Street Journal reports on the impressive record of the Bank of North Dakota
by Ellen Brown
While 49 state treasuries were submerged in red ink after the 2008 financial crash, one state’s bank outperformed all others and actually launched an economy-shifting new industry. So reports the Wall Street Journal this week, discussing the Bank of North Dakota (BND) and its striking success in the midst of a national financial collapse led by the major banks. Chester Dawson begins his November 16th article:
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Too good to miss! SNL’s Best Clip all year!
(GEORGETOWN, TEXAS) — The Williamson County Commissioners Court was presented with the final results of the real property records audit conducted in early October by DK Consultants LLC out of San Antonio. The Commissioners were shocked at the findings, which you can access by clicking here for the full report.
Wells Fargo — the largest mortgage servicing company in the country — was recently busted for creating and sharing a handbook that instructed their employees on how to commit fraud. Ring of Fire guest host Farron Cousins discusses this with attorney Mike Burg. The WellsFargoForeclosureAttorneyManual on how to craft fraudulent foreclosure documents and its patent software program VendorScape are designed to defraud the homeowners and the courts. Shouldn’t the judges care?
I’ll volunteer for jury duty here…
But not in the US!
Some thought it would never happen. But in Iceland, the former chief executive of one of the largest banks in the country which was involved in crashing the economy in 2008 has been sentenced to jail time.
Iceland banker the first to manipulate bank’s stock price
In receiving a one year prison sentence, Sigurjon Arnason officially became the first bank executive to be convicted of manipulating the bank’s stock price and deceiving investors, creditors and the authorities between Sept. 29 and Oct. 3, 2008, as the bank’s fortunes unwound, crashing the economy with it. Landsbanki was one of three banks that had tallied nearly $75 billion in debt before the final curtain was drawn.
What, me guilty? was the bank executive’s response upon learning of his fate. “This sentence is a big surprise to me as I did not nothing wrong,” Arnason…
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Nothing is more depressing than a state court judge that obviously favors the bank’s attorneys – even when the evidence clearly says the trust bank claiming to hold the documents is not the real party in interest. How could a securitized trust not have to follow the UCC securities code, Articles 7-9?
How could an actively trading trust with certificates issues against a static financial asset become a “Holder” under UCC Article 3 when the financial instrument is supposed to be non-negotiable until it is purchased at face value from the trust (to pay off the certificate holders)?
Personally, every case that gets reviewed and every transcript that is read where the Assignment of Mortgages are plainly fabricated and the judge turns a blind eye when he knows the bank attorneys are defrauding the court, just smacks of judicial corruption. And in America – this is very, very sad. Continue reading
Deadly Clear 