Florida homeowners catch a break in courts

By Alison Fitzgerald

The state Supreme Court revisited foreclosure court procedures after a Center report.

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 "New York":

"… . California was third. With $242 million worth of HUD mortgage insurance, New York had the highest value of mortgage insurance for nursing homes. For-profit …"

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 "bank":

"… 5-year-old mother of three fell behind on her payments. When Young got the bank’s letter, she didn’t fight. “They said foreclosure, so we just up a …"

"… willing to invest in fixing them up because, with the mortgage unpaid, the bank can always come back and foreclose again. By cherry-picking which foreclo …"

"… By cherry-picking which foreclosures they complete and which they ignore, banks are saddling individual borrowers with a permanent, inescapable debt whil …"

"… t afford the mortgage. Young doesn’t want the house back. She wants the bank to take it, and write off her debt, exactly what she thought they’d done …"

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 "Foreclosure":

"… ellas county there was a sign taped to the front of the bench that said “Foreclosure Sale: 45 days, Sept. 16, 2014.” It was like those signs in a liquor stor …"

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 "Orlando":

"… ourt system,” said Mark Stopa, who practices foreclosure defense in Orlando. “When the court is moving cases along so quickly, the court is saying, …"

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 "Bank of America":

"… ent auctions the lien to investors. Past investors include JPMorgan Chase, Bank of America and people who respond to Internet get-rich schemes, the report said. Home …"

"… said Florida alone sold $2 billion worth of tax liens in 2008.JPMorgan and Bank of America both said they have stopped buying and bundling and reselling tax liens bu …"

New whistleblower cases allege continued bank fraud

By Amy Biegelsen and Emma Schwartz

Mortgage modifications and appraisal processes in question

Raging against the foreclosure machine

By Ben Hallman

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

Excerpts from this story referencing "Fannie Mae":

"… he largest lenders. Most home loans are bought by Wall Street banks or by Fannie Mae and Freddie Mac, bundled together and placed into pools of 5,000 or more. …"

"… rongful foreclosure, violating federal law and servicing guidelines set by Fannie Mae, which owns their loan. Bank of America did not respond to requests for c …"

"… 601 for fees it had assessed on one occasion and $45 on three other dates. Fannie Mae and Freddie Mac servicing guidelines (page 301-2) say that payments on loa …"

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 "U.S. Treasury Department":

"… ortgages in America’s 10 hardest-hit real estate zones, according to the U.S. Treasury Department. The company was second only to now-defunct subprime lender New Century Fi …"

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 "Business":

"… nd other GE honchos thought so much of what Brandt had done with WMC, Businessweek later noted, they invited her to talk before the parent company …"

"… hey just marginalized him and he didn’t really have anything to do.”‘Business as usual’While Dave Riedel was fighting battles inside WMC’s Californi …"

"… up’And Amy Brandt?She was “living it up,” at least according to Businessweek.  WMC’s former CEO had a 30-acre ranch outside Los Angeles …"

"… fund that planned to make money off distressed mortgages.Brandt told Businessweek that, looking back, she wished she’d done more to diversify the …"

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 "Mortgage":

"… d 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 200 …"

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 "Assistant Attorney General":

"… ed, you likely paid more simply because of the color of your skin,” said Assistant Attorney General Thomas E. Perez. People of color also were “far more likely to be steere …"

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 "official":

"… s, she later claimed, were upset that she was, well, finding fraud.Company officials, she alleged in a lawsuit, berated her for reporting that sales staffers …"

"… r allegations. The case was settled on undisclosed terms. A former company official confirmed to iWatch News that Citizens was no longer in business, but said …"

"… te scandals. One legal scholar hailed the act — which gave federal labor officials the power to order companies to swiftly reinstate whistleblowers with bac …"

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

Excerpts from this story referencing "Associated Press":

"… to residential mortgage loan serving and foreclosure processing.’’ An Associated Press investigation found that Perry courted some of the nation’s leading mort …"

'Occupy Wall Street' aims ire at foreclosures

By Michael Hudson

Singing protesters try to block foreclosure in Brooklyn courtroom

Excerpts from this story referencing "Foreclosure":

"… m from beleaguered homeowners, community activists and consumer attorneys. Foreclosure opponents have used social media to spread the word about questionable tac …"

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 "House Appropriations Committee":

"… ding to government data. The counseling money may not be coming back. The House Appropriations Committee recently approved a budget for 2012 that also doesn’t include any HUD ho …"

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

Excerpts from this story referencing "Eileen Foster":

"… The mortgage market was struggling in March 2007 when Countrywide promoted Eileen Foster to executive vice president and tapped her to take over the company’s mo …"

"… d programs for Bank of America customers,” the bank said.Holding the lineEileen Foster says she didn’t set out to be yet another of Bank of America’s legal a …"

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 "Angelo Mozilo":

"… er after she sent an email to the company’s founder and chief executive, Angelo Mozilo, about questionable lending practices. The ex-manager, Enid Thompson, warn …"

"… ” The American Dream In February 2003, Countrywide’s founder and CEO, Angelo Mozilo, gave a lecture hosted by Harvard’s Joint Center for Housing Studies tit …"

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 "finance":

"… For example, a broker who helped Gail Greene borrow nearly $500,000 to refinance her home near LaGuardia Airport in Queens got a “yield spread premium” …"

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 "New York":

"… s most active in investigating mortgage fraud were Las Vegas, Los Angeles, New York, Tampa, Detroit, Washington, Miami, San Francisco, Chicago, and Salt Lake …"

"… cial crime have been the subject of debate.The Justice Department told the New York Times earlier this year: “The Department of Justice is aggressively purs …"

"… vocates and media organizations quickly poked holes in the data.  The New York Times reported that the success of the operation was “something less tha …"

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 "Mortgage":

"… ncial Corp, responsible for at least $97.2 billion, followed by Ameriquest Mortgage Co./ACC Capital Holdings Corp with at least $80.6 billion and New Century …"

"… uding the Truth in Lending Act and the Fair Debt Collections Practices Act.Mortgage industry racked by foreclosure scandal (Oct 7, 2010) – One of the leadin …"

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

"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 "finance":

"… rom “overzealous debt collectors on a national scale,” writes personal finance expert Gerri Detweiler. As a first step, the CFPB could require colle …"

"… how much income they need to comfortably repay that amount, says personal finance writer Farnoosh Torabi of Credit.com. As part of the process for obtaining …"