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ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Formal Criminal Charge Filed in Florida Against Lorraine Brown, President of DocX Similarly, the short criminal charge against Brown in Florida alleges this conspiracy of one. Brown ran DocX operations, eventually under the title of President and Senior Managing Director of “LPS Document Solutions, a Division of LPS.” In this capacity, DocX created and executed mortgage-related documents for a variety of servicers. And during this time, DocX falsified mortgage assignments, lost note affidavits and just about every other kind of mortgage document out there, documents that eventually got used as evidence for foreclosure in state courts, with title insurers and with local recording clerks….

Short Sales Continue to Dominate Consumer Relief in Foreclosure Fraud Settlement In other words, there’s a formula for consumer relief eligible under the settlement, and it hasn’t yet been applied. So we don’t know how much progress the banks have made with honoring the settlement. And we don’t get enough detail in this report to make the calculation – some principal reductions will not get full credit, because the loan type isn’t in the banks’ portfolio, but a private investor’s portfolio, for example…. LPS Data Shows Ups and Downs of the Foreclosure Crisis In September, LPS’s delinquency rate was 7.4 percent, which was a 7.72 percent increase over August. The company defines its “delinquency rate” as reporting 30 days or more past due, but not yet in foreclosure. In 2012, the rate went up in April, May and June, before declining in July and August, so now it’s up again in September. So, since last April, the LPS scoreboard says: UP-3 months… DOWN-2 months… and then UP-1 month….

San Diego County registry ordinance

approves

foreclosure

Beginning in early 2013, San Diego banks will be required to register foreclosed homes into a tracking database, according to U-T San Diego, the region's local publication. Approved by City Council Tuesday, the city ordinance will help code enforcement officers pinpoint potential problem properties that could provoke crime, safety issues and declines in property values, the article's….

Minuses, Pluses for Connecticut In New Foreclosure Report There is an encouraging sign on the home foreclosure front today: a new report shows that activity in the third quarter fell in 131, or 62 percent, of the nation’s 212 metro areas with a population of 200,000 or more. But Connecticut doesn’t have much to celebrate. RealtyTrac, which tracks and markets foreclosed properties, said today the four Connecticut metro areas that made the list….

Bank of America sued for alleged mortgage fraud The Justice Department is seeking $1 billion from Bank of America, alleging the bank committed fraud by selling defective mortgages from a program it says was known within the bank as "the Hustle." Those mortgages were purchased by government-backed mortgage finance firms Fannie Mae and Freddie Mac, resulting in over $1 billion in losses for taxpayers and countless foreclosures….

MBA issues mortgage refinance slowdown warning The Mortgage Bankers Association is warning it expects to see $1.3 trillion in mortgage originations during 2013. This is down more than 25% from its revised estimation of $1.7 trillion in 2012. Refinancings will retain the lion's share of mortgage origination, but will also experience the slowdown. Refinances are expected to fall to $785 billion in 2013, down from a revised estimate of $1.2 trillion in 2012….

CFPB, FTC launch six investigations over mortgage ads The Consumer Financial Protection Bureau and the Federal Trade Commission launched six formal investigations of lenders, suggesting the firms may have violated the law by releasing misleading mortgage ads. A dozen other firms received warning letters about their advertising practices this week. The agencies announced Monday that the six companies under the bureau's lens are being checked out for serious violations of the law….
>>>>>>> ‘Mortgage Seizure Via Eminent Domain For Community Stabilization’ Debate And News Updated Daily http://paper.li/EmDomainDebate/1342319964

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