AM! JURY AWARDS MAN $2.5M IN PUNITIVE DAMAGES AGAINST OCWEN FOR WILLFULLY VIOLATING THE FCRA

justiceleague00's avatarJustice League

DAUGHERTY v. OCWEN LOAN SERVICING, LLC

U.S. District Courtcase number 5:14-cv-24506

BECKLEY – A Wood County man will receive more than $2.5 million after a federal jury said a mortgage service company didn’t investigate his repeated disputes of his credit report.

A federal jury on May 23 awarded $6,128.39 in compensatory damages and $2.5 million in punitive damages to David M. Daugherty of Vienna. He had sued Ocwen Loan Servicing LLC and EquifaxInformation Services LLC in Raleigh County in 2014. The defendants had the case removed to federal court.

After a six-day trial before Judge Irene Berger, the jury ruled in favor of Daugherty, saying Ocwen willfully violated the Fair Credit and Reporting Act. One component of that act requires that a company investigate all disputes. Daugherty had filed several disputes with Ocwen after receiving Equifax credit reports showing him behind on his mortgage payment.

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2008 Part II-The Sequel: WELLS FARGO LAUNCHES 3% DOWN PAYMENT MORTGAGE

The banks won’t stop until the computer systems and their patents are confiscated and destroyed. It is a “seamless automation” system of corruption. Although there are minions viewing computer screens, it is really the computer system that processes the applicant. Although the system was designed with safeguards and fraud detection, it can be and has been relaxed. The homeowner enters the rabbit hole and becomes part of the system that is designed to force default in order to keep the banks liquid…afloat.

Why are we surprised that they are continuing the same process? If we want them to stop – fines, settlements and sanctions – even prison – won’t kill the computer system. Our war is with corrupt technology. You have to completely eradicate it first before we will see any real change.

This is phase 3. The system started before the S&L crisis; and ramped up again after 2002 (RTC vs. KeyFinancial). Now the system is pushed again…very little change but same intent and outcome.

NY Applies Simple Rule on Statute of Limitations

It is obvious now, we’ll likely have to have several cases make it to the Supreme Court of the United States before we will have cooperation and judges following the rule of law. We are really going to miss Justice Scalia. The judiciary, at all levels, are too highly invested in Wall Street to rule for the homeowners – it jeopardizes their own pension funds and investments.

Maybe we need a crash in order to level the playing field and get back to a more ethical society because the next one will wipe out the rest of the pension and retirement funds… Unless we are too stupid to stop Congress from bailing out the banks – again. The only people another bailout will save are government employee (judges and legislators) pensions and retirement funds. Those of us not on cushy gov’t paychecks have already lost our savings and what we do have is not in the stock market or in the bank…if we are smart.

Mortgage Assignments: Assignment of a Mortgage Without the Underlying Note is A Nullity

Oh, how naive people are. These transactions are not traditional mortgage loans.

BankruptcyRealEstateInsights's avatarBankruptcy-RealEstate-Insights

In re Cornerstone Homes, Inc., 544 B.R. 492 (Bankr. W.D. N.Y. 2015) –

A chapter 11 trustee sought a judgment that a series of mortgages were unenforceable as a matter of law because the written assignments transferring them to the current mortgagees were insufficient. If the trustee prevailed, the mortgage loans would be transformed from secured to unsecured claims.

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