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Follow the Trail —Don’t get lost in the documents
I THOUGHT THIS COMMENT WAS WORTHY OF MAKING INTO A POST. See for Deutsch bank references Prospectus offered all over the world: Anyone who had a Deed of Trust with: Indymac, Wells Fargo, Countrywide,...
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Investigation finds fraud in WaMu lending
The mortgage lending operations of Washington Mutual Inc., the biggest U.S. bank ever to fail, were threaded through with fraud, Senate investigators have found. Washington Mutual – United States –...
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WaMu exec: We deserved to be given a chance
The former CEO of Washington Mutual, the biggest U.S. bank ever to fail, on Tuesday defended the bank’s actions to reduce risks from the looming housing bust. Washington Mutual – United States –...
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Chief Judge Gonzalez calls WaMu’s Conduct “Immoral, Unethical, Oppressive,...
That’s Chief Judge E. Irma Gonzalez above. Irma E. Gonzalez, Chief Judge of the United States District Court, Southern District of California, in granting a plaintiff’s motion for a Temporary...
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Mandelman U. Presents: There’s Credit Default Swaps & then there’s Credit...
Complexity We Eschew at Good Old… Mandelman U. Sit, Sulte, Simplex In 1998, there were so few Credit Default Swaps in play that they were hardly worth counting. Not only were there a relatively small...
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THEY ONCE WERE LENDERS – Understanding government’s failure to stop bankers...
Preface… Sit down and relax… you’re going to need a comfortable chair. But, I promise you… it’ll be worth it. In the fall of 2008, news stories about “scammers” taking advantage of homeowners at risk...
View ArticleFraud Digest | Mortgage Fraud – Bank of America, JP Morgan Chase, Lender...
Mortgage Fraud Bank of America JP Morgan Chase Lender Processing Services WaMu Trusts Washington Mutual WMABS Trusts WMALT Trusts Action Date: August 6, 2011 Location: Jacksonville, FL An examination...
View ArticleMTD Denied | FDIC has to Face a $10 Billion Lawsuit Tied to the Failure of...
FDIC has to face $10 billion WaMu-related lawsuit (Reuters) — A federal judge ruled that the Federal Deposit Insurance Corp has to face a $10 billion lawsuit tied to the failure of Washington Mutual...
View ArticleWhite Paper | DECONSTRUCTING THE BLACK MAGIC OF SECURITIZED TRUSTS
DECONSTRUCTING THE BLACK MAGIC OF SECURITIZED TRUSTS: HOW THE MORTGAGE-BACKED SECURITIZATION PROCESS IS HURTING THE BANKING INDUSTRY’S ABILITY TO FORECLOSE AND PROVING THE BEST OFFENSE FOR A...
View ArticlePONZI | MORTGAGE-BACKED TRUSTS – RUNNING ON EMPTY?
MORTGAGE-BACKED TRUSTS – RUNNING ON EMPTY? By Lisa Epstein and Lynn E. Szymoniak, Esq. December 6, 2011 What is left in residential mortgage-backed trusts? Investors, everyone with a pension invested...
View ArticleAnother Settlement Fail | FDIC Reaches $64 Million Settlement with 3 Former...
The paltry settlement amount and the fact that the executives will likely be paying very little from their own pockets come at a time of public outcry over how federal agencies have handled the...
View ArticleJustice Department Reaches $335 Million Settlement to Resolve Allegations of...
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, December 21, 2011 Justice Department Reaches $335 Million Settlement to Resolve Allegations of Lending Discrimination by...
View Article“Living Wills” | FDIC Board Approves Final Rule Requiring Resolution Plans...
FDIC Board Approves Final Rule Requiring Resolution Plans for Insured Depository Institutions Over $50 Billion The FDIC today approved a final rule requiring an insured depository institution with $50...
View ArticleDexia v. Bear Stearns |“Egregious Fraud” Dexia Sues JPMorgan Over $1.7...
Dexia Sues JPMorgan Over $1.7 Billion in Mortgage Securities JPMorgan Chase & Co., the biggest U.S. bank by assets, was sued over mortgage-backed securities sold to Dexia SA (DEXB) because the...
View ArticleQuestion of the Week | Washington State AG Rob McKenna Explains Why He...
Rob answers a Question of the Week on the multi-state investigation of loan servicers: “There’s a big multi-state lawsuit against banks and loan servicers regarding mortgages and some states have...
View Article$80.35 Million in Foreclosure Fraud Settlement Funds Now Getting Redirected...
$80.35 Million in Foreclosure Fraud Settlement Funds Now Getting Redirected to State Budgets By: David Dayen I’m trying to keep a running tally of the direct funds to states from the foreclosure fraud...
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California Homeowner in Foreclosure Wins Quiet Title – It’s a Free House!
Well, just when I thought I’d seen everything… A Riverside, California homeowner, Denise Saluto, who was in foreclosure filed for quiet title against Deutsche Bank National Trust, as trustee for...
View ArticleSpears et al v. Washington Mutual | Federal District Court Judge Grants Class...
The United States District Court for the Northern District of California granted class certification in a mortgage loan appraisal suit alleging defendants conspired to inflate appraisals to increase...
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Arizona Supreme Court Ends the Argument – No Note Needed to Foreclose
Does a trustee have to “show the promissory note” in order to foreclose by non-judicial trustee sale. The Arizona Supreme Court, in a decision on May 18, 2012, said NO. According to the Supreme...
View ArticleJPMorgan, Citi Units Sued by FDIC Over Colonial Sales
JPMorgan, Citi Units Sued by FDIC Over Colonial Sales JPMorgan Chase & Co. (JPM) and Citigroup Inc. (C) were among the banks sued by the Federal Deposit Insurance Corp. over $388 million in...
View Article“The Lost Bank: The Story of Washington Mutual – The Biggest Bank Failure in...
Click Here to Watch This Program ~ “The Lost Bank: The Story of Washington Mutual -The Biggest Bank Failure in American History” About the Program Kirsten Grind talks about the collapse of Washington...
View ArticleA Brief History of Labor Day
HOW LABOR DAY CAME ABOUT; WHAT IT MEANS “Labor Day differs in every essential from the other holidays of the year in any country,” said Samuel Gompers, founder and longtime president of the American...
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