Homeowner wins DUAL TRACKING issue against OCWEN

Deadly Clear:

This happened in more cases than just Ocwen.

Originally posted on Justice League:

Valbuena v. Ocwen Loan Servicing

Court: California Court of Appeal Docket: B256378 Opinion Date: June 19, 2015
Areas of Law: Banking, Real Estate & Property Law
Plaintiffs filed suit against Ocwen after their lender’s purchase of their residence at a nonjudicial foreclosure sale, alleging that Ocwen violated Civil Code section 2923.6, the prohibition on “dual tracking” contained in the Homeowners Bill of Rights, when it conducted a foreclosure sale of plaintiffs’ property while their loan modification application was pending. The trial court sustained Ocwen’s demurrer. However, the court concluded that by alleging the submission of the loan modification application three days after receipt of the Offer Letter, and the transmittal of the additional documents requested by Ocwen on the date of request, plaintiffs have sufficiently alleged that a complete loan modification application was pending at the time Ocwen foreclosed on their home in violation of section 2923.6. Accordingly, the court…

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If Cal-Western Reconveyance LLC is closed up, then who’s doing Wells Fargo’s foreclosures?

Originally posted on Clouded Titles Blog:

This just in …

For those who are in the know, the California Secretary of State’s office confirms that the registered address of Cal-Western Reconveyance LLC is 525 East Main Street, El Cajon, CA 92022.  It’s registered agent is listed as CT Corporation.  However, as the pictures sent in by our super sleuth Al West show, and from conversations he had with the guy next door in the same building, Cal-Western has been closed over 4 months.  Check out the photos:

IMG_0635IMG_9700IMG_0772IMG_4468IMG_8170

It further appears that the now-defunct Butler & Hosch law firm was connected to this entity.  This makes perfect sense considering the amount of document manufacturing B&H was involved in that surfaced in the Osceola County Real Property Records Forensic Examination last year.

Cal-Western was Wells Fargo’s right-hand henchman in the non-judicial foreclosure scene … but since this place is all boarded up with barbed wire around the building…

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Robert Reich (How to Punish Bank Felons)

Deadly Clear:

A crime is a crime… How come they don’t have to plead out in front of the judge like other criminals and how come the judges don’t recognize the same crimes as they would for the average citizen.

Originally posted on Alina's Blog:

What exactly does it mean for a big Wall Street bank to plead guilty to a serious crime? Right now, practically nothing.

But it will if California’s Santa Cruz County has any say.

First, some background.

Five giant banks – including Wall Street behemoths JPMorgan Chase and Citicorp – recently pleaded guilty to criminal felony charges that they rigged the world’s foreign-currency market for their own profit.

This wasn’t a small heist. We’re talking hundreds of billions of dollars worth of transactions every day.

via Robert Reich (How to Punish Bank Felons).

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Jamie Dimon is poisoning the economy: Why too-big-to-fail bankers are hazardous to our health

Originally posted on Justice League:

Ed Kane, a professor of finance at Boston College and grantee at the Institute for New Economic Thinking, studies the dangerous risk-taking of giant banks. He sees the cultures of Wall Street and regulators coming together to turn taxpayers into victims of theft and great harm. Like extreme drunk drivers before MADD or smokers on airplanes prior to the 1980s ban, megabankers currently get away with endangering others with little fear of repercussions. Kane discusses how changes in corporate law and culture must make it legally and socially unacceptable for bankers to blow their toxic fumes at the rest of us.

Read on.

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Elizabeth Warren Has A New ‘Sheriff Of Wall Street’ In Mind

Originally posted on Justice League:

Sen. Elizabeth Warren (D-Mass.) is privately urging New York Gov. Andrew Cuomo (D) to replace the head of the New York Department of Financial Services — Benjamin Lawsky, nicknamed the “Sheriff of Wall Street” for his tough enforcement approach — with Rohit Chopra, a top regulator at the Consumer Finance Protection Bureau, The Wall Street Journal reported on Wednesday.

On Thursday, a coalition of consumer advocates and progressive groups also voiced their support for Chopra, saying in a release that he has “a strong record of uncovering and addressing predatory behavior” in the financial industry.

Chopra is currently the CFPB’s student loan ombudsman and assistant director. He has testified before Congress on the growing evidence for a negative “student debt domino effect” on the economy, caused by the country’s more than $1.2 trillion in outstanding loans. He has also investigated student loan servicing companies and is credited with aiding a…

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RESPONSIBILITIES OF AMERICAN HOME OWNERSHIP: PART 4

Deadly Clear:

Absolutely agreed. How did local planning commissions allow HOAs and COAs to create such restrictive rules? How did state legislatures write such oppressive laws where HOAs can foreclose ahead of the mortgagee for merit less fines and excessive fees? Lobbyists are in every form of government and it should be unlawful to have conversations outside of public meetings – just like the Sunshine rules.

Originally posted on Clouded Titles Blog:

This piece is a partial op-ed commentary based on factual research.  If you think you may be facing similar issues, it is best to consult with an attorney who is well versed and qualified to render a legal opinion in such matters. 

It never ceases to amaze me that property owners “didn’t see this one coming”, when they bought into an HOA or COA (acronyms for Homeowners Association and Condominium Owners Association), which charge exorbitant monthly fees and put what I consider excessive restraints on any given property owner’s behavior.  This has prompted me to write a fourth commentary about taking a hard look at evaluating a purchase of property tied to these types of issues.   While I give credit to Stop Foreclosure Fraud for posting this article this morning, it “trips my trigger” as to my arguendo about banks NOT taking immediate title to a foreclosed piece of…

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History Repeats Itself… Congress Tries to Reinstate Controls on the TBIF banks

Deadly Clear:

Don’t you ever wonder if the Clinton “fabulous financial years” weren’t just a facade because the banks let him look good while they were making changes to screw America???

Originally posted on Justice League:

From Richard Bowen website:

In May, Robert Reich, former Labor Secretary, listed restoration of Glass-Stegall as a key Presidential candidacy criterion. Reich was in Iowa for the Raising Wages/Working Families Summit – the first of a national series – where he was the featured speaker.

The reinstatement of Glass–Steagall is steadily gathering public support. A bipartisan group of senators and congressman are proposing the “21st Century Glass-Steagall Act” in an effort to curb the power of big banks by reinstating a Depression-era rule that separated commercial and investment banking. Some believe that Glass-Steagall is the essential first step in dealing with the crises in employment, wages, and living standards in the United States.

Enacted during the Great Depression, the Glass-Steagall Act prevented commercial deposit banks, which are insured by taxpayer money through the Federal Deposit Insurance Corp (FDIC), from engaging in insurance and risky investment activities.

The 1999 repeal of Glass-Steagall, which…

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Another Fed “Insider” Quits, Tells The Truth

Deadly Clear:

Isn’t this just like “foaming the runway” for the banks to make it appear the pension funds are still afloat, while hiding the truth that they actually sank years ago like the Titantic?

Originally posted on Justice League:

Zerohedge:

Once more, an “insider” from The Fed exposes the reality of an academic ivory tower clueless of the real financial markets. Former adviser to Dallas Fed’s Dick Fisher, Danielle DiMartino Booth speaking in a CNBC interview slams The Fed for “allowing the [market] tail to wag the [monetary policy] dog,” warning that “The Fed’s credibility itself is at stake… they have backed themselves into a very tight corner… the tightest ever.” As she writes in her first Op-Ed, “The hope today is that the current era of easy monetary policy will have no deep economic ramifications. Such thinking, though, may prove to be naive… All retirees’ security is thus at risk when the massive overvaluation in fixed income and equity markets eventually rights itself.”

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Wal-Mart uses tax havens to cut taxes on foreign units: advocacy group

Deadly Clear:

Don’t they all! Don’t try this at home because they’d probably come after us peons…

Originally posted on Justice League:

4Traders:
(Reuters) – Wal-Mart Stores Inc has built a network of 78 subsidiaries and branches in 15 offshore tax havens to minimize taxes on its operations outside the United States, said a report by tax reform advocacy group Americans for Tax Fairness released on Wednesday.
Wal-Mart, the world’s largest retailer, has assets worth at least $76 billion through shell companies domiciled in Luxembourg and the Netherlands, the report said.

The report says Wal-Mart does not list these subsidiaries in its annual filings and called on the U.S. Securities and Exchange Commission to require disclosure to make the tax practices transparent to investors.

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