Poorly rated nursing homes got HUD-guaranteed mortgages anyway

By Jeff Kelly Lowenstein

Hundreds of poorly rated facilities received mortgage guarantees.

Excerpts from this story referencing "University of California":

"… s.” And Charlene Harrington, an emeritus nursing professor from the University of California at San Francisco, says that the insurance pattern raises serious questions …"

Sunshine state uses fees to prevent sun from shining on judicial records

By Alison Fitzgerald

In Florida, a court is charging massive fees for some public records.

'Zombie' homes haunt Florida neighborhoods

By Alison Fitzgerald and Jared Bennett

Neighborhoods devastated by thousands of abandoned homes as banks fail to follow through on foreclosures.

Excerpts from this story referencing "Social Security Administration":

"… those of her daughter, and their Medicare benefits were being cut off. The Social Security Administration said she lied on her application when she failed to disclose she  …"

Investigating Florida's parallel legal system for foreclosures

By Alison Fitzgerald and Sarah Whitmire

A Q&A with Senior Reporter Alison Fitzgerald on her most recent investigation into Sunshine State foreclosures.

Excerpts from this story referencing "bank":

"… ive? What I saw is that the initiative tilts the legal system in favor of banks. For that small fraction of homeowners who are defending their homes, the …"

"… f homeowners who are defending their homes, they are now fighting not only banks, but also the state. When a court or judge tries to move a case forward, …"

"… tries to move a case forward, they are by default working on behalf of the bank which brought the case. And they are giving the banks leeway in terms of e …"

"… king on behalf of the bank which brought the case. And they are giving the banks leeway in terms of evidence they would never give to a homeowner. I revi …"

Homeowners steamrolled as Florida courts clear foreclosure backlog

By Alison Fitzgerald

Why are Florida's courts rushing to clear more than 700 foreclosure cases per day?

Excerpts from this story referencing "Tampa":

"… ays Matt Weidner, an outspoken foreclosure defense lawyer who practices in Tampa and St. Petersburg and blogs about the system. “They’re stripping away …"

Former subprime executive making risky loans again

By Daniel Wagner

Andy Pollock, who led First Franklin's bad loan factory, is pushing interest-only loans at new firm.

Excerpts from this story referencing "WDB Funding":

"… r out. The veteran subprime executive has been named president and CEO of WDB Funding, the company announced last week. WDB is a national lender that provi …"

"… ly sank Merrill Lynch, which was forced to sell itself to Bank of America. WDB Funding is the third mortgage company Pollock has helped lead since rejoining the …"

"… not qualify for government guarantees because they carry more risk. WDB Funding’s managing partner said he is “ecstatic” to have nabbed Pollock. “ …"

Report: Some lose homes over as little as $400

By The Associated Press

Some homeowners lose houses for a little as $400 in overdue taxes, consumer group says

Excerpts from this story referencing "Florida":

"… s City, Kan.Rao said he believes the actual number is much higher. He said Florida alone sold $2 billion worth of tax liens in 2008.JPMorgan and Bank of Amer …"

New whistleblower cases allege continued bank fraud

By Amy Biegelsen and Emma Schwartz

Mortgage modifications and appraisal processes in question

Excerpts from this story referencing "Congress":

"… ly prevented foreclosures — making “a mockery of a program designed by Congress and the Treasury Department to help millions of struggling American homeow …"

Raging against the foreclosure machine

By Ben Hallman

Automated foreclosure process creates errors, stifles modifications and enrages helpless homeowners

Excerpts from this story referencing "North Carolina":

"… an returning their payments, the Grays claim in a complaint filed with the North Carolina Commissioner of Banks. GMAC customer service representatives told them th …"

"… I called constantly, but it was as if the dots were not connecting.” A North Carolina clerk of court recently dismissed the foreclosure on grounds that GMAC had …"

"… ccounting background. Justices in New York, Texas, Mississippi, Louisiana, North Carolina, California, and Massachusetts have sanctioned servicers for abusive pract …"

"… les, but servicers universally ignore them,” said O. Max Gardner III., a North Carolina bankruptcy attorney. Payment application order is important because when a …"

Feds investigating possible fraud at GE’s former subprime unit

By Michael Hudson and E. Scott Reckard

Federal investigators looking into possible fraud at GE's now-closed subprime lender

Excerpts from this story referencing "Mortgage":

"… into potentially criminal business practices at Burbank, Calif.-based WMC Mortgage Corp. during the home-loan boom, according to four people with knowledge o …"

"… rs, making it a less-familiar name than giant retailers such as Ameriquest Mortgage Co. and Countrywide Financial Corp. Still, in 3½ years under GE’s owner …"

"… ed in guilty pleas to egregious fraud. One, at Taylor, Bean & Whitaker Mortgage Corp. in Florida, included the creation of fictitious loans. The othe …"

"… ;in Florida, included the creation of fictitious loans. The other, at U.S. Mortgage Co. in New Jersey, involved selling the same loans twice — once to credi …"

Woman says GE-owned subprime lender deceived, defrauded her

By Michael Hudson

Mortgage on modest home becomes legal nightmare for West Virginia woman

Excerpts from this story referencing "WMC Mortgage Corp.":

"… laid out the costs and details of her loan.The $67,500 loan was funded by WMC Mortgage Corp., a subsidiary of General Electric since 2004.GE shuttered WMC in 2007, but …"

Fraud and folly: The untold story of General Electric’s subprime debacle

By Michael Hudson

High-paid employees of fraud-plagued, GE-owned WMC Mortgage included ex-porn star, strippers

Excerpts from this story referencing "WMC Mortgage Corp.":

"… ome loans by paying roughly half a billion dollars to buy California-based WMC Mortgage Corp.What GE got in the bargain, former WMC employees say, was a place where ers …"

Ex-WaMu worker claims he was shunned for refusing to push toxic loans on borrowers

By Michael Hudson

Ex-WaMu employee says he fought pressure to sell toxic loans

Excerpts from this story referencing "Bank":

"… because it’s more profitable for the company,” he says.JP Morgan Chase Bank counters that Saffer didn’t sell because he didn’t have the chops to c …"

"… because it bought Saffer’s ex-employer, Seattle-based Washington Mutual Bank, in September 2008, after regulators seized WaMu in what was the largest b …"

Bank of America to pay record settlement over Countrywide abuses

By John Dunbar

Bank of America to pay record settlement over Countrywide abuses

Excerpts from this story referencing "Justice Department":

"… the real estate collapse that led to the nation’s economic meltdown. The Justice Department said Wednesday that the agreement is the largest fair lending settlement i …"

Whistleblowers ignored, punished by lenders, dozens of former employees say

By Michael Hudson

Former mortgage company employees say fraud was widespread in industry

Excerpts from this story referencing "Mortgage":

"… d Ed Parker, former fraud investigations manager at now-defunct Ameriquest Mortgage Co., a leading subprime lender. “But we were not welcome because we affe …"

"… “boiler room” operation and a frat-house blowout.At Citizens Financial Mortgage Inc., a small Pennsylvania-headquartered lender, the out-of-control behavi …"

Worst may be yet to come in foreclosure crisis, study says

Millions more homes at 'imminent risk of default' study says

Excerpts from this story referencing "Mortgage":

"… ften as white borrowers.The study – “Lost Ground, 2011: Disparities in Mortgage Lending and Foreclosures” – concludes with a plea for stronger governm …"

Obama housing plan gets faint praise

The president outlined a new plan to help homeowners, GOP presidential candidates rely on free market

GOP candidates in foreclosure capital say government not the solution to crisis

By Michael Hudson

Republican candidates in Nevada say foreclosure mess will go away if government stays out of it

'Occupy Wall Street' aims ire at foreclosures

By Michael Hudson

Singing protesters try to block foreclosure in Brooklyn courtroom

Excerpts from this story referencing "American Bankers Association":

"… dependent investigation.Bob Davis, an executive vice president at the American Bankers Association, told Bloomberg News that an agreement hasn’t been reached because state …"

HUD cuts to devastate mortgage counseling agencies across nation

By Ben Hallman

HUD mortgage counseling program loses funds, hundreds of housing counseling agencies hammered

Excerpts from this story referencing "GAO":

"… ounseling occurs early in the foreclosure process. One study cited by the GAO found that clients who received counseling were 1.7 times as likely to be …"

"… grants to agencies. Here, too, HUD has been slow to act. According to the GAO, a working group at HUD is “in the process of developing a plan” for h …"

Mortgage industry tanks, fraud continues at Countrywide

By Michael Hudson

As the mortgage industry melted down, fraud investigator kept up the pressure, soon lost her job

Countrywide protected fraudsters by silencing whistleblowers, say former employees

By Michael Hudson

Exclusive interview with a high-ranking Bank of America whistleblower reveals corruption that led to the financial collapse

Excerpts from this story referencing "Bank":

"… By the fall of 2008, she was out of a job too. Countrywide’s new owner, Bank of America Corp., told her it was firing her for “unprofessional conduct …"

"… doing the right thing. Last week, the U.S. Department of Labor ruled that Bank of America had illegally fired her as payback for exposing fraud and retal …"

"… eblowers. It ordered the Bank to reinstate her and pay her some $930,000. Bank of America denies Foster’s allegations and stands behind its decision to …"

"… of corruption that protected fraudsters, abused borrowers and helped land Bank of America in a quagmire of legal and financial woes. In government recor …"

Obama's new plan for underwater mortgages may be too little too late

By Michael Hudson

Obama orders Fannie and Freddie to work with borrowers; earlier programs helped only a few

Borrower Nightmares: Disabled homeowner alleges broker, bank sold her mortgage she couldn’t afford

By Ben Hallman

Queens woman fights foreclosure on her childhood home

Excerpts from this story referencing "Bank":

"… ith its release contingent on repairs to a downstairs apartment. Emigrant Bank, the parent of Emigrant Mortgage, said in written answers to questions fro …"

"… ue on heating oil, and other debt, she needed money badly. Enter Emigrant Bank, which offered a program that allowed homeowners to borrow about half of t …"

"… s are at closings to look out for the interests of their client—Emigrant Bank—not borrowers, mortgage brokers, or anyone else. He said that his attorn …"

"… -sponsored by New York’s City Bar Justice Center and the Federal Reserve Bank of New York, said she has reviewed hundreds of mortgages from every major …"

Reporter Michael Hudson Talks Mortgage Fraud on KCBX

Michael discusses annual FBI mortgage fraud report

FBI brags about chasing down mortgage fraudsters but big banks are left untouched

By Michael Hudson

FBI report identifies mortgage fraudsters of all stripes – except banks

Excerpts from this story referencing "Mortgage":

"… ys general around the nation. The state authorities accused its Ameriquest Mortgage subsidiary of using bait-and-switch salesmanship, inflated appraisals and …"

A roundup of investigations in the three years since the last market crash

By Shirley Gao

iWatch News reports on the financial crisis from 2008 to now

Excerpts from this story referencing "Bank of America":

"… process, including the falsification of documents. Four of the companies—Bank of America, JP Morgan Chase & Co., Citigroup, Wells Fargo & Co.—have spent …"

As housing crisis festers, mortgage servicers spend $8 million on political contributions

By Michael Hudson and Aaron Mehta

Mortgage servicers pony up $8 million in political donations as housing crisis festers

Excerpts from this story referencing "Freddie Mac":

"… ercent for the week ending Aug. 4, according to a survey by mortgage giant Freddie Mac.What’s holding back the housing market, Carliner said, is a glut of avai …"

"Dear CFPB" wish lists urge action on mortgages, payday loans, prepaid cards

By Shirley Gao

Advocacy groups have long wish lists for Consumer Financial Protection Bureau

Excerpts from this story referencing "Payday loan":

"… to increase overdraft fees, the groups say.Limit rollovers for Payday loansPayday loans are supposed to be for short-term emergencies to tide borrowers over unti …"

Borrower Nightmares

By Julie Vorman

Leaderless CFPB faces big job taming predatory lenders

Excerpts from this story referencing "Bank":

"… w $7,000 from Linville’s Bank account but never paid a cent to Discover, Bank of America, Lowes and other major creditors. After filing for personal ban …"

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