Monday, February 28, 2011

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"Robo-signing is the one [problem] ... we're most concerned about," Miller told reporters late Wednesday, but he added, "We're not ruling out other issues." http://ping.fm/9Iu2a
Foreclosure Mess: 50 States Investigate Mortgage-Services Industry
As States Probe Corrupt Paperwork, Experts Worry Housing Recovery May Be Derailed
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Citigroup Settles Fraud Cases Tied to Texas Mortgage Assigner
Citigroup Inc., the third-largest U.S. bank, settled or lost at least five claims in 2010 brought by borrowers who accused the bank of filing fraudulent mortgage documents provided by a Texas firm.
In the most recent settlement in December, a bankrupt homeowner in Wappingers Falls, New York, challenged Citigroup’s use of a mortgage “assignment,” which shows the transfer of ownership of a mortgage. It was signed by an employee at Orion Financial Group Inc., a Southlake, Texas, firm that provides document services to lenders.
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See our “A” rating with the Better Business Bureau
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Sunday, February 27, 2011

Michael T. Pines, Esq., Joins Certified Forensic Loan Auditors on the Seminar Circuit-
Michael T. Pines, Esq Joins Certified Forensic Loan Auditors, LLC on the Seminar Circuit Offering Foreclosure Relief Strategies for Attorneys utilizing cutting edge Mortgage Securitization trade secrets and other tools for Attorneys...
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Saturday, February 26, 2011

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Mortgage Securitization Auditor Training Program

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Michael T. Pines, Esq., Joins Certified Forensic Loan Auditors on the Seminar Circuit-
Michael T. Pines, Esq Joins Certified Forensic Loan Auditors, LLC on the Seminar Circuit Offering Foreclosure Relief Strategies for Attorneys utilizing cutting edge Mortgage Securitization trade secrets and other tools for Attorneys...

Friday, February 25, 2011

Michael T. Pines, Esq Joins Certified Forensic Loan Auditors, LLC on the Seminar Circuit
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MSNBC: Fraudclosure Video with Attorney Michael Pines http://ping.fm/RhMCJ
Michael T. Pines, Esq Joins Certified Forensic Loan Auditors, LLC on the Seminar Circuit Offering Foreclosure Relief Strategies for Attorneys utilizing cutting edge Mortgage Securitization trade secrets and other tools for Attorneys...http://ping.fm/W7A7H
Local Anti-Foreclosure Attorney Michael T. Pines Arrested While Trying To Save Clients' La Costa Home
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Thursday, February 24, 2011

Michael T. Pines, Esq guest appearance at the MSA- Training Class 02/26/11 in Las Vegas http://ping.fm/8HJUm
Foreclosed Home Search Reveals Processing Problems
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Mortgage Securitization Auditor Training Certification "MSA" (Las Vegas, NV) February 25 - 27, 2011http://ping.fm/8AvuH

Wednesday, February 23, 2011

GMAC scores victory in court over Maine homeowners

A federal court is on the verge of throwing out a lawsuit filed by Maine homeowners facing foreclosure action against Ally Financial Inc.'s GMAC mortgage unit, which has been accused of wrongful foreclosure practices.
U.S. District Judge D. Brock Hornby in Portland, Maine has granted GMAC's request to dismiss two claims in the complaint and the remaining one claim is also not expected to survive, according to Thomas Cox, a lawyer for the homeowners.
In disputed foreclosure actions, especially in cases where the aggrieved homeowner is trying to bring an action against a servicer for having filed false affidavits, the judge has ruled that the homeowner can challenge the use of false coduments in their individual foreclosure cases and can't file new lawsuits.
"A contrary ruling would mean that the outcome of every lawsuit could produce a later lawsuit by the unhappy loser, seeking damages on account of the outcome of the former lawsuit and claiming that it resulted from false testimony or false affidavits," the judge wrote.
However, Cox said the decision could set a precedent and be a setback for homeowners who are attacking the foreclosure practices of lenders by filing class-action lawsuits.
Meanwhile, the homeowners, who have accused GMAC of filing false documents in foreclosure cases, are devastated. The lawsuit was filed last year and in December, they had failed in stopping GMAC from proceeding with the foreclosure sales in Maine.
The lawsuit's sole surviving claim alleges that GMAC has violated Maine's Unfair Trade Practices Act but Cox feels Hornby will probably side with GMAC in this matter too.
Homeowners in foreclosure not paid mortgage for 17 months: Report

U.S. homeowners facing foreclosure action haven't made a mortgage payment in an average of 17 months, compared to 11 months two years ago, and the time frame may increase, according to a USA Today report.

High volume of mortgage defaults, time-consuming reviews for loan modifications and the "robo-signers" controversy in tens of thousands of cases are slowing banks and mortgage servicers from completing foreclosures, the report says.
According to LPS Applied Analytics, which tracks 37 million mortgages, last year in December, an average homeowner in foreclosure went without making a mortgage payment for 510 days, compared to 410 days in January.
Before the foreclosure crisis, the average number of days was about 250, USA Today cited LPS Senior Vice President Herb Blecher as saying.
Homeowners in foreclosure not paid mortgage for 17 months: Report
www.ibtimes.com/.../homeowners-in-foreclosure-not-paid-mortgage-for-17- months-report.htm
Homeowners in foreclosure not paid mortgage for 17 months: Report
www.ibtimes.com/.../homeowners-in-foreclosure-not-paid-mortgage-for-17- months-report.htm
BofA's unit violated Utah law in foreclosure actions, says state atty. gen

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Homeowners in foreclosure not paid mortgage for 17 months: Report
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U.S. homeowners facing foreclosure action haven't made a mortgage payment in an average of 17 months, compared to 11 months two years ago, and the time frame may increase, according to a USA Today report.

High volume of mortgage defaults, time-consuming reviews for loan modifications and the "robo-signers" controversy in tens of thousands of cases are slowing banks and mortgage servicers from completing foreclosures, the report says.
According to LPS Applied Analytics, which tracks 37 million mortgages, last year in December, an average homeowner in foreclosure went without making a mortgage payment for 510 days, compared to 410 days in January.
Before the foreclosure crisis, the average number of days was about 250, USA Today cited LPS Senior Vice President Herb Blecher as saying.
Homeowners in foreclosure not paid mortgage for 17 months: Report
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Tuesday, February 22, 2011

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Monday, February 21, 2011

Certified Forensic Loan Auditors, LLC. has created a comprehensive training certification program entitled: Mortgage Securitization Auditor "MSA"- A 24-hour in-person intensive seminar held across the country.http://ping.fm/8SH63
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Wednesday, February 16, 2011

Attorneys general in 50 states are investigating the industry’s use of mortgage assignments as part of a wider probe into faulty foreclosure methods, according to Geoff Greenwood, a spokesman for Iowa attorney general Tom Miller. Last month, a Massachusetts court ruled that two foreclosures by Wells Fargo & Co. and U.S. Bancorp were invalid because assignments presented in those cases failed to prove the chain of ownership of the mortgage, sending financial stocks down.
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Foreclosure Mess: 50 States Investigate Mortgage-Services Industry http://ping.fm/VFRWJ
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Tuesday, February 15, 2011

Wednesday, February 9, 2011

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Nation's only Forensic Loan Auditor Training Course Feb 17-20, 2011

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Lawsuit claims fraud by Bank of America mortgage unit
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Sunday, February 6, 2011

Saturday, February 5, 2011

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E-mails Suggest Bear Stearns Cheated Clients Out of Billions
Lawsuit alleges the bank took extreme measures to defraud investors, and now JPMorgan may be on the hook
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Friday, February 4, 2011

Fannie Mae Freddie Mac: Treasury to Roll Out Fannie, Freddie Reform Next Week - CNBC http://ping.fm/CrlBQ

Fannie Mae Freddie Mac: Treasury to Roll Out Fannie, Freddie Reform Next Week - CNBC

The U.S. Treasury Department is expected to announce an overhaul of Fannie Mae and Freddie Mac next week that will call for a significant reduction of their share of the U.S. mortgage market, CNBC has learned.

Sources tell CNBC that major elements of the Treasury plan include a call for an increase in the cost of government-backed mortgage insurance, essentially a hike in the fees charged to borrowers. Treasury is also expected to endorse a reduction of the government's share of the mortgage market, to less than 50 percent from the current 95 percent.

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Wednesday, February 2, 2011

Tuesday, February 1, 2011

Faulty Foreclosure May Mean Massachusetts Buyer Isn’t Owner - Businessweek http://ping.fm/cQsSL
Fannie, Freddie, Rejected $21 Billion in Loans - Government Entities, Commissioning, Loans, Associations - Builder Magazine http://ping.fm/Fk79V
Probe not blaming U.S. lending law for financial crisis - Seeking Alpha http://ping.fm/SMXnU
Housing bust's ripple effect http://ping.fm/KKds5