Eric Wolff has done a good job covering the story about Michael Pines, the foreclosure-chasing attorney. Here's a link to the initial story about former owners breaking into their old home in Escondido on Tuesday:...
Bando Follow-Up
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Fraud
The Impervious Tan
Towards the end, Angelo was cashing in $17,000,000 worth of stock options every five days, and he practically walks scot-free. From the nytimes.com: Angelo R. Mozilo, the former chief executive of Countrywide Financial, once the nation’s largest mortgage lender,...
MBS-Investors Suing
While the MERS debacle has many borrowers thinking that they may be getting a free house soon, the biggest threat to the banks/servicers comes from the investors who purchased the securities on Wall Street. Thanks to Kingside, here's a link to a big class-action suit...
Simi Valley Bando Light Show
OC Renter is BACKKKKKK..........he contributes the follow-up story on the previous post. The folks from Simi Valley who are trespassing in their former home have an interesting hobby. Every holiday season they produce a massive light show in the front yard of the...
Keep Moving, Nothing to See…
From cnbc.com: WASHINGTON - A bill that homeowners advocates warn will make it more difficult to challenge improper foreclosure attempts by big mortgage processors is awaiting President Barack Obama's signature after it quietly zoomed through the Senate last week. The...
Strong Winds Needed
Servicers and their ilk are hoping this blows over quick, from HW: Lender Processing Services said varying signature styles from its subsidiary, Docx, resulted from a Docx practice that has been discontinued and only affected two lenders/servicers. LPS went on the...
Short Sale Negotiator Fraud
Hat tip to the reader who sent in this official warning notice from the Commissioner of the DRE regarding buyers being forced to pay the listing agent's short-sale negotiator. An excerpt: Unfortunately, Short Sale fraud is growing, and it too often seems that...
Yet No Perp Walk For Angelo?
From reoi.com: A Raleigh, N.C., real estate speculator pleaded guilty to conspiring to rig bids at real estate foreclosure auctions in eastern North Carolina. The charge and subsequent guilty plea is the first in an ongoing federal investigation into fraud and bidding...
More SD Housing Fraud
From nbcsandiego.com: Two brothers have been busted in a widespread real estate fraud ring, including 40 properties in San Diego County, according to San Diego County District Attorney Bonnie Dumanis. David Zepeda, 57, and John Zepeda, 59, both from San Bernadino,...
Don’t Commit Fraud
CA renter asked about the story told where the homeowner claimed that he used a down payment of $120,000, but records show that his purchase was financed 100%. How can that happen? There has to be a conspiracy to commit fraud, where the $120,000 gets laundered...
