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Foreclosure: Lender Processing Services


Robo-signers, kickbacks, misleading judges, punishing law firms, downplaying its legal trouble to investors. Lender Processing Services, says this special report from Reuters, is feeling the pressure. The Jacksonville firm, which reportedly handles half the nation's foreclosures, is the target of investigations by federal prosecutors, the FBI, Florida's Attorney General, the Office of the Comptroller of the Currency and the Federal Reserve.

Categories: Foreclosure Crisis (84)
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You're Paying Your Mortgage..... WHY?

Now comes this lawsuit out of Texas alleging that Bank of America not only tried to collect on a PAID IN FULL mortgage but refused to listen to the fact that it had been paid in full and in fact threatened that the owners were "going to lose their home."

These banks all claim there is no "real problem" with securitization, there are no pernicious issues with paperwork not being in order, it's all on the up and up, yet we continue to see filings like this, and these filings - extreme measures, lawsuits even - come only after reasonable attempts to communicate with these institutions and resolve problems are met with STONEWALLING and games - even when, as is alleged here, there is evidence that the loan in question was paid in full and discharged!


http://market-ticker.org/akcs-www?singlepost=2301445


Janet Tavakoli Explains How Banks Converted US Housing Into "Fraud As A Business Model"

Janet Tavakoli shares a presentation she prepared for the Federal Housing Finance Agency Supervision Summit earlier today, in which she attempts to explain to politicians how banks made fraud into a "business model" and how the damage can be repaired. It may not be easy: as she says, MBS became a "widespread interconnected ponzi scheme" - "Securitization professionals at several financial institutions knowingly bundled fraud riddled loans into RMBS. New investors needed to pay-off old investors. To delay being busted, they escalated and sped up the fraud. This required more “complexity” and the involvement of more cronies. Many CDOs and virtually every CDO-Squared were more fraud to cover-up fraud." Of course, the same can be said about the global economy, as now everyone is aware that the global Keynesian system is nothing less than Madoff's scheme taken to the infinite degree. But nobody will ever go to jail for that. For any remaining questions on the motives, the schemes, the payoffs, and, most importantly, the players, both the protagonists and the bribed co-stars, the below presentation attempts to answer all. And, unfortunately, Ms. Tavakoli's suggestion for how to fix this, which is remarkable precisely the same one we have been espousing since our advent, will never happen as it means the end of the Ponzi and the elimination of trillions in generationally stolen middle-class wealth.


http://tinyurl.com/2euyeb3


We have another sign of things not getting better, but worse.
But while that seems promising, falling property values and unemployment near 10 percent have spurred a surge in foreclosures. The number of homes offered in foreclosure auctions averaged 110,000 a month in the third quarter compared with about 98,000 in the same period a year earlier, said Mark Fleming, CoreLogic’s chief economist.
“There are two ways to reduce negative equity,’’ Fleming said in a telephone interview. “Price appreciation or disposition, which means people getting taken out of their homes. At the moment, there’s more disposition.’’ A further decline in prices threatens to increase the number of homeowners with negative equity, Fleming said.
After rising foreclosures and the expiration of buyer tax credits that boosted demand early in the year, Zillow Inc. said US home values will probably drop this year. Home prices may drop as much as 11 percent more through the first quarter of 2012 before finding a bottom, according to a recent Morgan Stanley report.
“House prices are going to fall more next spring and that will bring more negative equity,’’ Fleming said.
So firms like Brookstone and others will be needed more than ever to help consumers in the foreclosure crisis.
And where is that good news about home values the media were referring to?


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I am sad to know that there's such a law for foreclosure that lenders were really like in crisis. Thanks for sharing the report. Its nice to know more about this issue.

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昨年から アディダス JSジェレミースコットは注目雑誌も掲載。さまざまのデザイ

ン人に一目気に入る。私は例外ではないし、毎アイテム一足一足入手したい。現在はもっと多いの人は アディダス 

jeremy scottを履く、ファッション界にも自分独特のデザイン様式若い人に一番必見のアイテム。アディダススニーカー何万のアイテムで、

一家一足で君はとちらに気に入る? adidas バスケットシューズですか? adidas カントリーですか?或いは アディダス ランニングでしょうか?
快適の履き心地 バッシュ 通販シューズを探すのは ナイキ バッシュ 新作です。店内いろいろのアイテムできっと気に入るアイテムがある。男性は一般的にバスケットボールが好きで、今回ランドンのオリンピックでよく分かるでしょう? adidas バスケット或いは ナイキ レブロン入手しないと、

絶対後悔する。
アディダス スーパースターとは日本人大変好きですよね、クラシックのシリーズ永遠愛用さ

れるのアイテム。同時に アディダス クライマクール昨年から衝撃手頃の価格ので、入手の人はもちろん多いで

す。その他、 アディダス スターウォーズアディダス 翼

人気の新作のアディダスとして、街どこでも今は良く見える。 アディダス スニーカー ハイカットいろいろファッ

ション界の代表、お洒落のアイテムは アディダス ジェレミースコットからしても結構です。


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About the author
You've got the job of managing your money. No one in school taught you how. But you and I, we can teach each other, how to handle it, how to save for retirement, how to make money last, how to educate the kids, how to make a budget work. The conversations I have with my readers are fun. Money's important, but discussing it does not have to be boring.

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance columnist for the Sun Sentinel, is an award-winning business reporter. Her columns for 2008 were named "The Best in the Business," a national award chosen by her colleagues at the Society of American Business Editors and Writers.

Brackey has worked at Business Week magazine and at USA TODAY, where she was a founder and part of the original staff of the Money section at the country's first national newspaper. After nearly 11 years there - spent covering the 1980s bull market, the insider trading scandals, the 1987 crash - Brackey left Washington, D.C., and came to The Miami Herald. She spent the next decade writing a column about personal finance that chronicled the stock market's Internet boom and bust, as well as the popular Money Makeover features.

Brackey also has done commentaries for Marketplace Money, which airs on National Public Radio and The Nightly Business Report which is broadcast on more than 250 PBS television stations nationwide. She also has been a radio guest on WLRN’s Miami Herald News.
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