US banks fight back in ‘foreclosure-gate’ (alternet.org) "PIMCO, Blackrock, NY Fed Seek to Force BofA to Repurchase $47 Billion in Soured Mortgages; Viral Nonsense on "Show Me the Note" and "ForeclosureGate"" and related posts (globaleconomicanalysis.blogspot.com) Banks Face Two-Front War on Bad Mortgages, Flawed Foreclosures.
Last April, the nation’s top two bank regulators, the Federal Reserve and the Office of the Controller of the Currency, reviewed the foreclosure and loan modification practices and found a litany.
Worth a close reading. The revealed conflicts of interest and probably high crimes and misdemeanors and nothing less than expected, but astonishing all the same. The Veil of Secrecy at the Fed Has Been Lifted, Now It’s Time for Change By Sen. Bernie Sanders.
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We Are SO Screwed. October 19, 2010 Shaun Appleby. Tags: banking foreclosure mbs rems rmbs today Bank of america stock rallied. The Fed is talking about ‘quantative easing.’ We are alarming our friends and allies by crimping the US dollar worldwide in an effort to improve exports and ‘pump prime’ our flagging economy.
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Documentation isn’t what stopped the foreclosures; fear of taxes did. The banks had already made hash of pooling the mortgages for the REITs at the heart of these investment plans, and a reasonable reading of the regs indicated that foreclosures were likely to further expose the trusts to tax penalties.
In East New York, the promise. Craig Lanza to look at his foreclosure case. He called me back, bellowing, “That mortgage cannot be foreclosed!” He surmised that somewhere along the line, as the.
4–Banks Face Two-Front War on Bad Mortgages, Foreclosures, bloomberg excerpt: shoddy mortgage lending has led bankers into a two-front war, pitting them against U.S. homeowners challenging the right to foreclose and mortgage-bond investors demanding refunds that could approach $200 billion.
No egg on your face if, as a hot-shot investment. Street once seemed to have hid how much bad investment it made in the past 40 years. From the Federal Reserve bailout of bankers for bad South.
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