Zombies, Banks Ignoring BKR Laws, S Florida Leading Foreclosures, Robo-verification, Housing Worsens

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Ocwen still accused and investigated for illegally leading people into foreclosure, loses deal with Wells Fargo

see firm-accused-of-illegal-practices-that-push-families-into-foreclosure

Ocwen down 6.7% as Wells servicing deal officially nixed

  • Ocwen Financial’s (NYSE:OCN) agreement to buy the MSRs on $39B UPB of mortgages from Wells Fargo (NYSE:WFC) was originally announced in January to the great excitement of Ocwen investors. Shortly after, however, Ben Lawsky held up the deal as his office examined the servicing practices at Ocwen, and its relationships with the Altisource companies.
  • The two today announce a mutual decision to cancel the deal. For Wells, the cancellation won’t be material to its financial results.
  • Source: Press release
  • Ocwen is down 6.7% premarket.

Read more at Seeking Alpha:


Robo-Verifier Lona Hunt Admits, Twice, to Not Reading Foreclosure Complaint Before Signing Under Penalty of Perjury Full Transcript of Robo Verifier

Robo-signing continues unabated by settlements, fines, penalties and threats — NY Times



Banks continue to violate bankruptcy laws and orders of discharge:


  • Real sweethearts if you believe the reports, the likes of JPMorgan (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup (NYSE:C), and Synchrony Financial (NYSE:SYF) are being investigated by the Feds for still going after borrowers after their debt has been legally discharged in a bankruptcy.
  • Paying little attention to such court-ordered discharges, the banks reportedly are keeping the debt alive on credit reports, more or less attempting to force borrowers to pay on bills which they no longer owe.
  • The issue, say sources, is the way banks report to credit agencies. Once a debt is voided through bankruptcy, creditors must update credit reports showing that debt is cleared. Banks, however, routinely fail to do so, instead leaving notations of “past due” or “charged off.” A clerical mistake would be one thing, but, according to a number of bankruptcy judges,, banks refuse to make corrections unless the borrower pays.
  • The banks contend they are complying with all federal laws in their collection and sale of debt. Class-action suits have also been filed and the banks are trying to have them thrown out, arguing its third-party debt buyers who are in control.



South Florida at Top of Foreclosure Crisis Again

Zombie Foreclosures Zooming in Raleigh North Carolina

Cities Require Bond before Foreclosure in Effort to Stem Zombies

Wrongful foreclosure leads to wrongful deficiency collection




6 Responses

  1. Scot should be documents on file at the county level called an Assignment that shows that the debt was sold. If they are coming after you to pay, they are supposed to have documents that say so. Read the Fair Debt Collections Practices Act.

  2. @scot,

    I got long-winded, sorry. You need to do discovery and get hold of the “Pooling and Servicing Agreement”: PSA.

    You should get an attorney as, in my experience, pro se really doesn’t stand a chance.

    Once you have the PSA, in my understanding of it, you need the “Mortgage Schedule” which should be part of the “Mortgage Loan Purchase Agreement”: MLPA.

    Someone from this site once explained the MLPA cannot be an “intent” to sell; it must be validly executed and notarized.

    That same person explained further: “If the MLPA and Mortgage Schedule can be proven, the servicer must prove that all default payments were paid to the trust on the borrower’s behalf. If NOT, the loan then shows it has been removed from trust with collection rights sold or swapped to a third party.”.

    I have recently enlisted an attorney and we plan on using this site to pay for a “combo” which will audit for “title” and for “securities”.

    I plan on using these to “follow the money”.

    In my own case, I consider us fortunate as I have uncovered any number of frauds our own attorney participated in at closing. I don’t find others have been so lucky.

  3. @scot,

    If you read “The Web Of Debt”, by Ellen Hodgson Brown, you will learn that the central bank, the intentionally mislabeled, “Federal Reserve”, is neither “Federal” (instead, it is privately owned), nor does it possess any “Reserves” (instead, our Treasury Bonds are given, free-of-charge, to the private, foreign national bankers that manipulate the financial concerns of this once-great country on a daily basis).
    Our money also comes with interest payments also paid to these parasites and that percentage is roughly 15%.

    So, foreign bankers gain our bonds (the principle) as they are given them by our corrupt politicians (pick a party- all the same) and then the parasites attach interest of 15% (the “Deficit”- currently hovering around 17 Trillion Dollars) which rolls over yearly and then becomes added to the principle.

    Contrary to what people believe, President Clinton merely kept the interest payments neutral during his presidency- he didn’t pay anything down to offset the principle owed.

    The same private banker parasites rig our elections, embroil us in conflict with places like Iraq and contribute to international terrorist enterprises the world-over, whether they contribute American Dollars directly, like our client state, Saudi Arabia (Sunnis, btw, the same sect that has gifted the world with ISIL), or they may simply foment vulture Capitalism the consequences of which are also ultimately paid by Americans through devaluation through hyper-inflation of the American Dollar.

    Presently, the parasites have rigged the system of home ownership here in America.

    These same parasites created unsustainable loans and, when they realized they would soon be holding worthless paper, they placed “derivatives” bets against the worthless paper they themselves created.

    Currently there are 680 Trillion Dollars owed against “short sales” listed as “notional derivatives” (credit default swaps, collateralized debt obligations, synthetic collateralized debt obligations) internationally.
    The “notion” “derives” from the parasitic plan people will be foreclosed and lose their homes. Then, their deliberate “Boom-and-Bust” cycle will be complete; the American Dollar will be destroyed because our courts will stand idly-by and reward criminal behavior to the ever-lasting shame and undoing of our country.

    The derivatives market is owned and operated by the parasites: the same occupants of the intentionally mislabeled “Federal Reserve”.
    The DTCC and the DTC were created to regulate and supervise the derivatives markets.

    You asked: How do we get the banks to state they sold our debt to a third party debt collector?

    I suggest we start with an audit of the “Federal Reserve”; I then suggest we audit the DTCC and DTC.

    Each situation is different, each loan was sold any number of times. The true “Holders in Due Course” on our loans desire to remain totally obscured from now until forever.

    I have considered defrauded borrowers, investors, the American Dollar and the court system must unmask the fraud and bring the criminals to account. It is the only way to return value to each.

    Presently, the courts are rewarding the parasites for fear of devaluing the Dollar. Instead, the courts should collect on the derivatives bets and distribute the 680 Trillion to the victims, not the criminals.

  4. Cant blame the Banksters when the Government lets them get away with it.

  5. It’s Fannie and Freddie, who are fraudclosing on the houses , from the shadows behind the scenes.

  6. If the banks claim that the debt has been sold to a 3rd party. Wouldn’t the banks foreclosure complaint be dismissed based on the banks own admission that they no longer own the debt they claimed in the foreclosure complaint. My question which I hope someone can answer is; How do we get the banks to state they sold our debt to a third party debt collector?

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