Nevada Attorney General Catherine Cortez Masto’s amended complaint in a lawsuit against Bank of America has so many interesting nuances, I think I need a new Internet to catalog them all. But let me start by saying that this complaint is a stick of dynamite to the foreclosure fraud settlement, exposing it as a useless whitewash that won’t deter banks from their criminal practices. More Here
Homeowners Favored in Court Ruling
Homeowners in Florida, Nevada, Texas and Pennsylvania have filed lawsuits alleging they were victims of mistaken foreclosure. In many cases, the bank went so far as to haul away belongings and change the locks on the wrong homes.
Thus, the story goes, the Federal Reserve is the actual holder and owner of most of the mortgages in America. Maybe, maybe not. What the Federal Reserve really accepted was strictly derivative securities and exotic hedge products that were the equivalent of owning the derivatives (bogus mortgage bonds). SO the Federal Reserve has moved into the place of Banks who owned those securities, except that they didn’t own them for the most part. Once the Banks realized the Fed window was that far open they figured they could slip in almost anything, and they did. More Here
Las Vegas, Nevada: Wells Fargo Accused of Forging Loan Documents. The bank has presented two deeds of trust for the same property
LAS VEGAS REVIEW-JOURNALP Sept. 22, 2011 http://bit.ly/ua50cn
Nevada Foreclosure Filings Dry Up After ‘Robo-Signing’ Law
New default notices were way down last month in Las Vegas and Reno. http://on.wsj.com/uw539F
in Nevada plunged in October during the first month of a new state law stiffening foreclosure-processing requirements.
Slightly more than 600 default notices were filed against homeowners through Oct. 25 in the state’s two most-populous counties, Las Vegas’s Clark County and Reno’s Washoe County. That was down from 5,360 in September, or an 88% drop, according to data tracked by ForeclosureRadar.com, a real-estate website that tracks such filings. Default notices represent the first step in processing foreclosures.
Mitchell Stein Fights Back: Files Lawsuit Against CA Attorney General & B of A
In her zeal to protect Bank of America, Defendant Kamala D Harris simply threw attorney Stein in with dozens of lawyers, law firms, marketers and loan modification businesses and then tarnished him with the blanket accusation of fraud and conspiracy. This is how Bank of America works. With a little lying and cheating, the bank took a shot at removing from the playing field the superstar who had been beating the bank to a pulp for two and a half years.
Homeowners in
lawyers, law firms, marketers and loan modification businesses and then tarnished him with the blanket accusation of fraud and conspiracy. This is how Bank of America works. With a little lying and cheating, the bank took a shot at removing from the playing field the superstar who had been beating the bank to a pulp for two and a half years.