The report released today provides information on the process for the review of the foreclosure files during the IFR and file review results, including servicer error rates during the IFR, up to the time the IFR was replaced. The report also contains updated information on direct borrower payments and other assistance from the Payment Agreement and discusses the Federal Reserve’s ongoing supervision of corrective actions the mortgage servicers are required to implement. The report focuses primarily on servicers regulated by the Federal Reserve.Continue reading →
Spitzer as comptroller: Good for New York, good for women, terrifying for Wall Street abusers.
Before Eliot Spitzer’s infamous resignation as governor of New York in March 2008, he was one of our fiercest champions against Wall Street corruption, in a state that had some of the toughest legislation for controlling the banks. It may not be a coincidence that the revelation of his indiscretions with a high-priced call girl came less than a month after he published a bold editorial in the Washington Post titled “ Predatory Lenders’ Partner in Crime: How the Bush Administration Stopped the States from Stepping in to Help Consumers.” The editorial Continue reading →
Bankster piracy is so horrific even though the 50 US attorney generals agreed to let the banks off the hook with a pittance in refunds to homeowners, the fraudclosure money vampires sailed on assaulting and wrongfully seizing our properties.
It was business as usual set out to steal even more properties the exact same way and adding millions more homeowners to their fraudclosure list Continue reading →
“Sneaky” comes to mind to describe the government and the banksters regarding two settlements between US banks and government regulators who alleged that the banks were guilty of widespread abuse of the foreclosure system that allowed banks to seize homes from defaulting borrowers. The banksters agreed to pay out more than $20 billion on Monday to resolve claims arising from the mortgage crisis. Continue reading →