Friday, December 30, 2011

Wells Fargo, N.A. v Mcnee :: Another win for the Law Offices of Robert E. Brown!!

The Law Offices of Robert E. Brown, P.C.

Another win for the Law Offices of Robert E. Brown, P.C.! As real estate has the saying - location, location, location. Foreclosure Defense should have Standing, Standing, Standing! This proves once again that lenders will go to any length to foreclose.

Wells Fargo Bank, N.A. v McNee
Full decision below:

Wells Fargo Bank, N.a. v McNee w

Thursday, December 29, 2011

Urban Institute: Foreclosure backlog to 'take decades to complete'

There's a good chance there will be parts of the country that may never recover. My belief is that all of the government programs put into place simply created a false bottom (not to mention they were a huge failure). We need a rock solid bottom in order to be able to move forward. As I've stated before the Fed simply should have told all the lenders in 2008 that they (the Fed) would purchase any defaulted loan at .50 cents on the dollar. Sure, at the time many of the banks would have told the Fed "thanks but no thanks". But as they dug themselves deeper (and with no bailout money to save them) they would have changed their tune. Then the Fed could have modified the loans any way they liked. Yes, there would have been multiple banks going under. But their assets most certainly would have been picked up by stronger banks.

Independent Foreclosure Review Fail | NY Times – Foreclosure Relief? Don’t Hold Your Breath

Independent. I'm not so certain bankers or our government for that matter truly understand the meaning of the word "Independent". How can one (auditor/reviewer) provide an "independent" review of another party's (banks)documents when there is a previous relationship between the two parties? Just asking!

Wednesday, December 28, 2011

The Law Office of Robert E. Brown is featured on CNN Money

The Law Offices of Robert E. Brown, P.C.

Foreclosure free ride: 3 years, no payments

NEW YORK (CNNMoney) -- Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight.

Click Here: CNN Money

Tuesday, December 27, 2011

Lawmaker Presses for Criminal Investigation of GSEs

The fact that BOTH Fannie and Freddie entered into non-prosecution agreements with the SEC and agreed to cooperate in the litigation against their former executives should have told us this wasn't going anywhere anyway. MORE politicians need to step up to the plate like Senator Scott Brown. Hopefully, one day soon we'll see handcuffs on these bankers.

Foreclosure dismissed-- Frivolous conduct by HSBC

The Law Offices of Robert E. Brown, P.C.

Foreclosure dismissed on basis of Frivolous conduct by HSBC.

Decision can be found here: HSBC Bank USA, N.A. v Taher

Silverberg Decision Hammers Elpiniki

Silverberg decision hammers Elpiniki

Another win for The Law Offices of Robert E. Brown, P.C.

This was a big win for us. Bank of New York was told over a year ago that they must comply with the court's OCA Affirmation. Last year Chief Judge Jonathan Lippman apparently had enough with repeated attempts by lenders to put onto the court documents that let's say were "not up to par". This affirmantion requirement bascially puts the bank and their attorney on the hot seat. They in effect are stating that the file has been reviewed and info in the file is correct.
See attached decision:


Expunged from Public Record: Evidence of Fraud Warning to Future Buyers and Real Estate Researches

What the hell is going on in Florida? How does an affidavit just "disappear". Unbelievable!!

Fannie Builds Servicing Business via Secret Contracts

And so the back-door deals of Washington continue. . . . . .

Capital One Financial | More Illegal Conduct By Banks Excused?

If you had a bankruptcy that discharged your credit card debt and the bank is still trying to collect from you please call our office immediately for a FREE consultation. Since your debts have been discharged they can not try to collect from you.


There are many reasons why they refuse to cooperate. The first two reasons that come to mind are fraud and (bungling) bureaucracy.

6 Things Renters Need to Know About Eviction from Foreclosed Properties

These are the things that home owners need to know as well. If you're not certain how to protect yourself you need to seek out an attorney familiar with foreclosures and the law pertaining to tenancy. Should you have any questions please feel free to call our office at 718-979-9779

Friday, December 23, 2011

Special Report: The watchdogs that didn't bark

Great article. Be sure to read to the end. It does seem as if Washington (Eric Holder)is deathly afraid of both the banks and Wall Street. If I didn't know any better you'd think Eric Holder is afraid of getting beat up (bloody nose anyone?)So what gives??? What's with all of the settlement attempts? Seems to me there are plenty of fraud cases to go around to keep all prosecutors busy for a very long time. I can't help but think about the discussion I recently had with Neil Barofsky
(SIGTARP). He simply put it this way "to collect via settlement is better politically". Again, how sick is that? Homeowners get screwed over by their brokers, lenders and now by those who were supposed to protect them from the wolves.

For Every Two Homes for Sale, There's One in the Shadows

Shadow inventory. A few years ago it seemed the banks equated those words to the dreaded boogeyman. I believe the numbers stated here are on the low side. I think this is much bigger than any of the banks want to admit. Internally this is slowly crushing them. We still have another 5 years in this foreclosure crisis. So add that potential black cloud to these current numbers and you'll see the banks are in very bad position.

Fannie Mae, Freddie Mac Sued by California Attorney General

Both should have been brought to the dumpster a long time ago. Bungling, bureaucracy and losing money seems to be their expertise.

BofA to pay $335 million in fair-lending settlement

Extracting these types of awards are great. These home owners absolutely deserve it. As usual though there are no indictments! Indictments leading to long prison sentences is what's needed.

Thursday, December 22, 2011

Principal reduction outpaces short sales under HAMP

A borrower is more likely to get a principal reduction than a short sale or deed-in-lieu of foreclosure under the Home Affordable Modification Program.

The Full Story:

Friday, December 16, 2011

NYSC Judge Hammers Fremont, MERS, Pillar, Steven J. Baum PC, U.S. Bank “ASMT from MERS is defective, as it had no right, authority... .. ..

Full Story:

U.S Bank National Association v. Alan Bressler



Alan Bressler, CCU LLC, MERS, INC. ET AL, Defendants.

Full Decision can be found here:

This case also calls Steven J. Baum's master "Robo-Signer" Elpiniki Bechakas into question again. When is somebody going to depose her and make an example of this behavior!

Too Big to Stop: Why Big Banks Keep Getting Away With Breaking the Law

Too big for prison as well??? I don't think so. This needs to stop being viewed as political. These are criminal actions. And as such they need to be prosecuted. Plain and simple.


WOW!! Holding people accountable for their actions? What a great idea. Why didn't I think of that?

U.S. Senator Maria Cantwell - Cantwell to Justice Department: Fully Investigate Fraudulent Foreclosures before Bank Settlement

I wonder why other politicians haven't written with similar demands? Hmmmmmm.......

Nevada AG Files Suit Against Three More Notaries

Ok, so going after those on the bottom is a good start. May be some good information will pass along to the prosecutors and they in turn can throw the bigger fish under the bus. Great, now we just need a driver for the bus. Any volunteers????

Thursday, December 15, 2011

'Conflicted robosigner' equals no foreclosure: NY state judge

Thank God for Judge Schack! He is truly a borrower's best friend. You would think the banks would know by now this man means business! But apparently the banks still believe they do not need to comply with the court's directives. Hopefully, they'll continue to disobey.

Wednesday, December 14, 2011

Neil Barofsky - SIGTARP

I had the pleasure of attending a meeting last night with a panel which included Neil Barofsky. Neil was the first Special Inspector General of the Troubled Asset Relief Program ("SIGTARP").

Many subjects were brought up during the discussion. The two main points though were the failure of HAMP and banker prosecutions. There wasn't one person in the room who seemed to believe HAMP ever had a chance to succeed. Which was pretty sad considering how much money the Fed pumped into this program. At the end of the session I had the opportunity to speak with Neil. Since he was a former federal prosecutor in the U.S. Attorney’s Office for the Southern District of New York (and Senior Trial Counsel who headed the Mortgage Fraud Group) I figured he'd be pretty interested in hearing what we do. Well I wasn't surprised. As soon as I mentioned "mortgage fraud, auditing and prosecutions" I had his attention. Our conversation quickly gravitated to the lack of prosecutions. In a nut shell he stated that it was "easier" to "settle". "Settle" like what the other AGs are doing as opposed to prosecuting individual cases. How sad is that? Because certain people don't want to do their jobs they "settle". AGAIN, WHERE'S THE DETERRENT?

Fed: House Flipping Led to Deeper Housing Collapse

I'm afraid this goes much deeper than "flippers". I believe one of the core reasons for this entire mess is poor underwriting. And the reason for poor underwriting is that lenders were no longer holding the paper they originated. They became originating machines. Why would you care how a loan performed if you're not going to be responsible for taking the loss? The simple answer is you wouldn't care.

FDIC reaches $64M settlement in WaMu case

Ok, THIS is what I mean when I say "no deterrent". The FDIC was looking for $900,000,000 and they settled for $64,000,000. Guess what the bankers get to pay? Approximately $400,000 each! Yes, you read that right. Wait, it gets better. Ready for this? The remainder of the $64,000,000 will be paid by liability insurance!!!!! So let me get this steer your ship into the largest bank collapse in U.S. history while getting paid millions of dollars a year. So, why would you do anything differently the second time around??

Attorneys General Expect to Reach Settlement Before Christmas

I believe this will truly be a sad day for those states who agree to this proposal. Thank God the New York AG is going his own way to protect New Yorkers. Until bankers are held accountable they'll continue displaying the same behavior. And why not? There's no deterrent to act differently!

Do You Have Any Of These Violations On Your Mortgage?

Below you will find some of the results we have found after auditing our client’s mortgages:

Audited Results:
* Excessive fee charged to borrower
* Over compensation to mortgage broker
* Wrong lender foreclosing on borrower
* Borrower never received acceleration notice
* No HUD given to borrower at closing
* Mortgage broker over stated borrower’s income
* Mortgage broker added false bank account to borrower’s loan application
* Asset based lending
* Bait and switch. Borrower was switched at closing into an ARM loan
* No pre-closing documents – TIL, GFE, IOAF, Loan type, Broker’s fees
* Margin 7.125% (Adjustable rate loans only)
* TIL and Note payments do not match
* TIL does not clearly state mortgage payment
* Loan discount $ 9,315.00 – No benefit to borrower
* Mortgage broker never disclosed their additional fees
* Mortgage broker promised borrower a cash out of $76,000 if they closed the loan.
* Borrower received no note at the closing
* Borrower never signed any closing documents. Broker “lifted” borrower’s signatures from a
previous loan.
* Mortgage broker closed loan at borrower’s place of business without an attorney, notary or
title company.
* Foreclosure filed during the 30 notice period
* Loan flipping. No benefit to borrower
* Closing costs ($75,966.65) higher than GFE ($47,377.15)
* $28,589.50 missing from closing (HUD)
* Hidden payment to mortgage by bank (YSP $17,402.16)
* Mortgage broker over stated borrower’s bank account by $80,400.00
* Borrower was charged for the presence of an attorney when no one presented them
* High cost loan
* APR higher
* Borrower never received cash out as shown on HUD
* Borrower received no documents at closing
* Dual tracking -
* Borrower never served foreclosure documents
* Foreclosure illegally started
* Bank took payments from borrower and than foreclosed
* Process server falsified documents stating they served borrower when they did not.
* No pre-foreclosure documents given to borrower
* Foreclosure filed during the 30 day and 90 period.
* Real Estate broker, mortgage broker and attorney worked together to obtain financing and
sell property to an unsuspecting borrower providing him with false and misleading information
while also giving inaccurate and deceptive information to the lender.

Monday, December 12, 2011

Second Department allows homeowner to amend answer to raise standing.

The Law Offices of Robert E. Brown, P.C.


Friday, December 9, 2011

NBC Nightly News | John O’Brien: Can’t tell who owns mortgages (VIDEO

This has been a real problem all over the country. You can also try to find out who owns your mortgage by sending a Qualified Written Request to your servicer. Be certain to mail by certified mail. You can also check out these other sites to see who might own your loan:
MERS, FannieMae
Freddie Mac

JPMorgan CEO Jamie Dimon: Stop Bashing the Rich “Acting like everyone who’s been successful is bad and that everyone who is rich is bad – I just don’t

What a shame. And, he's supposed to be an intelligent guy! I think most people don't begrudge those who have become wealthy with honesty and hard work. What Mr. Dimon fails to realize is that people are mad because of the way these people became wealthy by the way of fraud, lying cheating and outright stealing.

Wednesday, December 7, 2011

Banker Servicing Abuses. Has This Happened To You?

- Loan sold without your knowledge
- Dual Tracking (working on mod & foreclosure filed at the same time)
- Foreclosure filed even though you’re current
- Faxing modification paperwork multiple times
- Different stories every time you call your lender
- Trial Mod exceeds the 3 month timeline
- Improper denial of HAMP (or in-house mod)
- Rights waiver inserted into loan modification agreements
- Improperly applied mortgage payments
- Escrow payments applied incorrectly
- Bogus/inaccurate fees on reinstatement figures
- Not providing timely reinstatement or payoff figures
- Bank provides no communication to borrower regarding late payments or pre-foreclosure
- Robo-signing (save the best for last). Bad signatures, bad assignments, no affidavits

If you believe any of the above has happened and feel you need help to resolve the problem please contact our office for a FREE consultation.

Law Offices of Robert E. Brown, P.C.
2409 Richmond Road Staten Island, New York 10306

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SEC official: Feds conclude that many allegations of financial wrongdoing can’t succeed as criminal prosecutions

WHAT?????? Did I miss something here? Difficult to prosecute? Hmmmmm . . . sounds like a little more effort should be put into it. Or, get a bigger dog!

NUCLEAR BOMBSHELL- THE IRS Enters The Fraudclosure Fight

Lawsuits will be piled high should these pass-throughs lose their tax status. Imagine getting a favored tax status that saves millions and millions of dollars and you blow it because you didn't do your job.

Tuesday, December 6, 2011

GMAC Counters Lawsuit with Decision to Pull Lending in Massachusetts

Who does GMAC think they're hurting anyway? Their actions only prove they are NOT interested in playing by the rules but are more interested in taking advantage of borrowers.

The Financial Crisis | A Timeline of Events and Policy Actions

WOW! This should be left as an open timeline so in years to come we can read about the carnage and perhaps learn something. Hopefully this timeline will include the arrests and convictions of all those who caused this mess.

Foreclosure Crisis Isn't Even Halfway Over: Study

I believe this market will not begin to correct itself for at least another 5 years. Let's see what needs to be addressed before we can move forward. Foreclosures (both legal & illegal), predatory loans, affordable modifications, class action lawsuits, AG settlements, investor suits against servicers, home owner counter claim suits, revamp Freddie and Fannie, dishonesty of Wall Street, Federal Government, prison terms for those who caused this mess. Did I leave anything/anyone out? Please feel free to let me know.

Monday, December 5, 2011

Predatory Loan Test

You May Have a Predatory or Fraudulent Mortgage If:

•The closing took place in your home or place of business
•There was no physical closing
•You never signed any paperwork
•You never received all of your paperwork
•The mortgage broker promised or paid you to close
•You received no paperwork before the closing
•You were promised a fixed rate loan and then received an adjustable rate
•Your payment was higher than broker stated it would be
•You were told your payment included taxes and insurance
•You were told you needed to buy “life insurance” in order to be approved
•Your income was inflated
•You were approved for the loan based on the value of your home not on your income
•The mortgage broker increased the number of apartments on your application
•The broker added bank accounts you don’t have or inflated the balance in them
•The mortgage broker received an “extra” payment from the bank (known as a Y.S.P.)
•The mortgage broker earned more than what would be consider reasonable
•You refinanced multiple times (loan flipping)
•Broker promised to refinance you into a “better loan”
•Interest rate is higher than promised or incorrect
•Cash out promised is less than received
•Closing costs are higher than stated
•High closing costs
•Unearned or bogus fees paid to the bank or broker
•Payment to mortgage broker is higher than shown on closing statement (HUD)
•You were specifically targeted for a specific type of loan (more fees for broker)
•You were locked into the loan for a long period (or you had to pay a fee)

If you have any questions regarding your mortgage, predatory lending or how we can help you to fight back against foreclosure please feel free to contact us.

Law Offices of Robert E. Brown, P.C.
2409 Richmond Rd., Staten Island, New York 10306
Phone: 718-979-9779 Email:
Attorney Advertising

Friday, December 2, 2011

Pillar Processing | 590 Face Layoff as Steven J. Baum Woes Spread

It's a real shame that in the end more people lose their jobs AND their homes. Instead of pushing these cases through the system using inaccurate information the more productive way would have been to honestly try and provide for an affordable loan modification where possible. But in my experience I have rarely witnessed this sort of an outcome. In the end the banks will be left with inventory that they will be unable to sell and they will become what they never intended on becoming. . . . . . . landlords

Massachusetts AG Lawsuit

Five Major U.S. Banks Accused Of Deceptive Foreclosure Practices.

Massachusetts Attorney General Martha Coakley is suing five of the nation's largest banks for deceptive foreclosure and mortgage modification practices, her office announced Thursday. Coakley's suit signals her formal departure from ongoing settlement negotiations between those banks, the Obama administration and a coalition of other state AGs over faulty foreclosure procedures.

Full Story:

Massachusetts AG Lawsuit: Five Major U.S. Banks Accused Of Deceptive Foreclosure Practices

Only three AGs that I know of are really putting the squeeze on the banks. Coakley (Massachusetts) Biden (Delaware) and our very own Eric Schneiderman (New York). Where are the other AGs? Why are the rest "falling in line" and believing what they're being fed? If the rest of the AGs believe the best way for the country to move forward is to "get all this behind us" they are gravely mistaken. By doing so without REALLY punishing the bankers will have the bankers believe they have the "right" to screw over whoever they like and further cement the idea that if they make "bad bets" that they'll be bailed out again, again and again. They need to be fully punished. As far as I'm concerned if there is no jail time there is no punishment. Simply being able to "pay a fine" and keep your money is not punishment. What do you think?

Thursday, December 1, 2011

U.S. Foreclosure Fraud in a Nutshell, How Average Joe's Home Was Stolen

Very interesting article. Be certain to read the entire piece.

Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress

The whole thing just makes me SICK. Secret loans, ripping off the taxpayers, no arrests, no prison. I don't get it.

Mortgage Servicers: Getting Away with the Perfect Crime?

If you think you have a predatory or fraudulent loan please give us a call. We'll conduct a loan audit to see if your mortgage has any violations. These violations may be used to fight back against the bank.

HERO Judge Rakoff May Have Goldman Sachs CEO Lloyd Blankfein Testify

Oh, boy! Can't wait to hear how he spins this one. This should be good.

A Banker Speaks, With Regret

Ok, so now a former banker admits the banks caused the whole housing mess. Perhaps this would be a great time to put this guy on the payroll and have him help us nail all of the other bankers responsible for this mess.