Friday, April 13, 2012

Wells Fargo Slapped With $3.1 Million Fine For 'Reprehensible' Handling Of One Mortgage

Wells Fargo as well as other lenders engage in this type of behavior because they know the borrower doesn't usually have the means to defend themselves or to bring an action against their lender for predatory lending/predatory servicing and have also come to realize that the courts have no time to deal with these issues. Knowing most judges do not have the time or understanding of exactly how lenders screw over their customers is even more incentive for lenders to continue this type of behavior.

Friday, April 6, 2012

Americans brace for next foreclosure wave

Hold on to your hats! Looks like this year is going to have a big uptick in foreclosure filings.

JPMorgan CEO on housing: We made too many mistakes

Hmmm, there seems to be some admission of guilt here including robo-signing. And there are no indictments because. . . . . . . . .

Judge signs $25 billion foreclosure settlement

Well, it's finally signed. Seemed for a time this wasn't going to get done. Not so sure this was the best deal for the home owner. However, the Fed wasn't doing much anyway. Hopefully, some of this money will find it's way to some of the nonprofit housing agencies (in New York).