by Ellen Brown Mortgages bundled into securities were a favorite investment of speculators at the height of the financial bubble leading up to the crash of 2008. The securities changed hands frequently, and the companies profiting from mortgage payments were often not the same parties that negotiated...

by Colin Barr, CNN Money Countrywide is paying the biggest tab yet in settling a subprime class action suit And like it or not, the deal brings a rare bit of good news for some embattled former executives of the troubled mortgage lender, including longtime CEO Angelo Mozilo (right). angelo mozilo A federal...

Walt Gray interviewer for California’s KCRA Channel 3 digs deeper into the foreclosure audit scam that is sweeping across the state. Attorney General Jerry Brown held a news conference last week warning of the dangers regarding phony foreclosure specialists. Attorney General Jerry Brown warned citizens...

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...

Nineteen months after the catastrophic failure of one of Sacramento’s top lenders, Pasadena-based IndyMac Bank, a flurry of local lawsuits alleges that the bank’s successor – OneWest Bank – is systematically working to push home loan borrowers into foreclosure. The allegations filed in...

The Federal Bureau of Investigation in May of 2009 created a team to defend against mortgage fraud. The team since its inception has been using covert operations, wire tapping, and advanced computer technology to obtain evidence involving economic crimes. The team is known as the National Mortgage Fraud...

General Counsel Jim Sandison Raises Fundraising Event’s Highest Amount in Only 15 Days SACRAMENTO, Calif. – June 25, 2009 – US Loan Auditors Chief Legal Counsel, Jim Sandison, knows he has plenty of friends across the greater Sacramento area. He recently raised the largest amount of “bail money”...

Countrywide Financial lost in its petition for relief from investor lawsuits against the Megabank. Countrywide Financial was seeking relief from investor lawsuits under the new legislation Helping Families Save Their Homes Act of 2009. The legislation provides that mortgage servicers that agree to modify...

The Obama Administration this week assembled mortgage company executives in Washington to insist they expedite their efforts in modifying loan payments for homeowners that are descending into foreclosure. The Treasury requested that companies acquire more man power and initiate training to speed up the...