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USLoanAuditors - Putting A...

USLoanAuditors - Putting An End To Fraud
Predatory lending is unfortunately something that we will come into contact directly or indirectly at one point of our lives. When a lender underwrites a mortgage, there are laws and guidelines that have to be observed. If that is not the case, you will have fallen prey to that kind of lending and you are legally entitled to fight it back. And that is exactly what this forensic loan auditing company...

Three thoughts on the fore...

by Christopher Peterson On monday the American Banker ran a well written story by Jeff Horwitz on the document problems slowing down foreclosures. It focuses on whether document custodians actually have the possession of key documents, including especially promissory notes. The article (subscription requried; 2010 WLNR 21191843) quotes document custodians insisting that they have all the documents...

Bank of America halts fore...

By Inman News, Bank of America said it’s extended its review of foreclosure documents to all 50 states, and will stop all foreclosure sales until the review is completed. The ongoing assessment, previously confined to 23 states where courts have jurisdiction over foreclosures, “shows the basis for foreclosure decisions is accurate,” Bank of America said in a statement. Bank of America...

Attorney General Reaches A...

TALLAHASSEE, FL - October 6, 2010 - (RealEstateRama) — Attorney General Bill McCollum today announced a multi state agreement with Wells Fargo Bank over allegations of deceptive marketing of payment option adjustable rate mortgage loans (POA’s) by Wachovia Corporation and Golden West Corporation, before Wells Fargo acquired the companies. From April 1, 2010 through the term of the agreement, more...

Foreclosure Freeze nationw...

September of 2010 could be the beginning of a foreclosure halt by the Top 7 banks across the United States. Ally Financial, a unit of GMAC has already agreed to halt foreclosures in 23 states. JP Morgan Chase has reportedly halted 56,000 foreclosures as well. This foreclosure halt was instituted after it was discovered that Ally employees were signing affidavits on foreclosures cases yet having no...

Central Valley awash in wo...

Mortgages exceed home values across the Central Valley, with more than six out of ten homes in Stockton, for example, underwater, according to new reports Thursday from real estate information company CoreLogic Inc. of Santa Ana. While Stockton is the deepest underwater market reported by CoreLogic, it has plenty of company. • In Modesto, 59.6 percent, or 58,892, of all residential properties with...

Mortgage Fraud Is Rising W...

By ROBBIE WHELAN, WSJ New data suggests that mortgage fraud—which got tougher to pull off after the collapse of the U.S. real estate market—is returning in a big way. Data prepared for The Wall Street Journal by research firm CoreLogic, examining about seven million home loans made by hundreds of lenders, show that losses from mortgage fraud—ranging from falsified credit reports to identity theft—rose...

Nearly 50 percent leave Ob...

Obama mortgage-aid effort is struggling to stem the rising number of foreclosures in US WASHINGTON (AP) — Nearly half of the 1.3 million homeowners who enrolled in the Obama administration’s flagship mortgage-relief program have fallen out. The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. Friday’s report from the Treasury Department...

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