This is probably the MOST ALARMING news I’ve read in a long time! State Attorney General Tom Miller seems to have given American consumers false hope that we would not sink in the Economic Titanic, created from BLATANT FINANCIAL FRAUD & GREED.
Consumers are at the mercy of their State Attorneys General to perform their duty, primarily to vigorously attack economic fraud! Prior to deals with lenders, SCORES OF PEOPLE NEED TO BE JAILED in order to deter this social scourge.
I don’t know that what I say / do makes much difference, but I’ll keep SPEAKING OUT about financial frauds.
The settlement “deal” show that working class people have no real surety for consumer rights. It shows that Americans cannot afford to rely on lawmakers for our well-being; and we must enhance our knowledge base –for our good as well as our loved ones and neighbors.
Concerning foreclosure fraud, outrageous facts are contained in the Petition: “Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers” @ http://chn.ge/eU2zA. Hopefully, people will continue signing and sharing that petition. Perhaps we can also bombard our AG’s with copies, compelling them to investigate and prosecute wrongdoers.
More than ever –aside from lawmakers, investigative reporters who put their safety on the line, and news media– average citizens need also to TAKE INITIATIVES for a better America.
*Commentary: “Emerging Battleground on Mortgage Abuses: Foreclosure Mills” @ http://t.co/riJXgou
*Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers http://chn.ge/eU2zAm
KABOOM! BofA, GMAC, Chase, Wells, Citi, Onewest Face N.J. Foreclosure Freeze
This is coming in from multiple fronts...
Chink in the Armor
The State Supreme Court of NJ has ordered a halt to all foreclosure in the state of NJ.
This is most excellent news for the reason you may not realize:
NJ is owned by the Wall St. Bankers. Remember the movie Copland about a town in NJ owned and run by a bunch of NYC cops?
Guess
who used to be Governor of NJ? Corzine. Guess what his job was before
he became Governor? Head of Goldman Sachs. If you are a banker of
certain levels, you live in one of three places, Manhattan, Long
Island, or NJ (what exit?). NJ is owned and operated by the large NY
banking firms so for the Supreme Court to turn on them is stupendous
news.
V
www.chinkinthearmor.net
Matt Weidner
Apparently
the practices in foreclosure courts in New Jersey have gotten so out
of hand that the court has initiated an inquiry into the questionable
nature and inaccuracies of documents submitted in courts across the
entire state.
The
attached Order is filled with all sorts of crazy language like,
“Protecting the integrity of the judicial foreclosure process” and the
“need to restore integrity to the foreclosure process” and “due
process”.
Apparently
there were six “foreclosure Plaintiffs with a public record of
questionable practices” which the court felt compelled to address in
its supervisory capacity.
What in God’s name is going on up there in New Jersey?
Things
are just fine down here in Florida…..no problems with integrity or due
process or robo signing…no sir-ee, things are just fine thank y’all
very kindly.
Them banks ain’t run us over down here….no sir-ee, things are just fine thank y’all very kindly.
The integrity of our real property system is not in run…..no sir-ee, things are just fine thank y’all very kindly.
Us dumb
yokels down here in Florida cain’t hardly read all them fancy
newspapers and we ain’t heard ‘nuthin ’bout ‘nuthin going on in
Congress.
So you go on with yer investergatin…we’s jus fine down here in Sunnie Floreeduh!
Bloomberg
BofA, Lenders Face Possible N.J. Foreclosure Freeze
Bank of America Corp., JPMorgan Chase & Co.
and four other mortgage lenders and loan servicers face a possible
suspension of home foreclosures in New Jersey by Jan. 19 under a judge’s
order.
The action, announced today by New Jersey Supreme Court Chief Justice Stuart Rabner, also covers Citigroup Inc.’s mortgage unit, Ally Financial Inc.’s GMAC mortgage unit, OneWest Bank and Wells Fargo & Co.
The lenders were implicated in “robo-signing,” the submission of
hundreds or thousands of foreclosure claims that falsely swore to
personal knowledge of their contents, Rabner said.
The six
companies must “show cause why the processing of uncontested residential
foreclosure matters they have filed should not be suspended,” under an
order by Judge Mary C. Jacobson in state court in Trenton.
“It’s
important that the judiciary ensures that judges are not rubber-stamping
documents of questionable reliability,” Rabner said today in a
conference call with reporters.
Another
24 lenders and loan servicers with more than 200 residential foreclosure
actions each in 2010 must “demonstrate affirmatively that there are no
irregularities in their handling of foreclosure proceedings,” according
to an order by Judge Glenn A. Grant, administrative director of the
courts.
First U.S. State
Rabner
said New Jersey is the first U.S. state to take such an action. The
state’s courts received 21,752 new foreclosures in 2006 and have gotten
65,222 this year, according to Grant’s order. Only 6 percent of cases
were contested this year, meaning 94 percent lacked “any meaningful
adversarial proceeding,” according to the order.
Lawyers
in foreclosure cases must also certify that they have communicated to
employees at the mortgage companies that they have personally reviewed
all documents and that they are accurate, Rabner said.
Bank of
America, Wells Fargo and JPMorgan are the three biggest U.S. home-loan
servicers, handling payment collections, debt modifications and
foreclosures on almost 50 percent of the $10.7 trillion of outstanding
mortgages, according to newsletter Inside Mortgage Finance.
Attorneys
general from all 50 states in October started probing mortgage
servicers after revelations that they may have acted illegally in having
employees sign affidavits that they didn’t review. GMAC Mortgage,
JPMorgan Chase and Bank of America were among companies that temporarily
halted foreclosures amid claims that the legal documents were
mishandled.
Suspended Forclosures
Thomas Kelly,
a JPMorgan spokesman, declined to comment on the New Jersey order.
Since September, the New York-based bank has suspended foreclosures in
40 states, including New Jersey, he said. It resumed foreclosures in
some of those states, he said.
Jumana Bauwens,
a spokeswoman for Charlotte, North Carolina-based Bank of America, said
the bank is reviewing the judge’s order and can’t comment at this time.
Gina Proia, a spokeswoman for Detroit-based Ally Financial, declined to comment.
New York-based Citigroup “will review the Justice’s order and will ensure that we meet the new requirements,” spokesman Mark Rodgers said in an e-mail.
Foreclosure Review
“Citi
has been continuously reviewing its foreclosure processes with respect
to its U.S. mortgage portfolios,” Rodgers said. “Last year, we took a
series of steps to strengthen our processes and added additional
resources to ensure foreclosures were being processed correctly.”
Diane Henry,
a spokeswoman for Pasadena, California-based OneWest, declined to
comment. OneWest was formed in the aftermath of IndyMac Bancorp’s
failure.
Jason Menke,
a spokeswoman for San Francisco-based Wells Fargo, said in an e-mail:
“We recognize and respect the need to ensure we always comply with
respective state laws. With our outside counsel, we intend to comply
with the New Jersey court’s order and demonstrate why the foreclosures
scheduled in New Jersey should move forward.”
U.S. bank regulators investigating foreclosure problems could impose fines or seek criminal penalties as soon as January, said Julie L. Williams, chief counsel of the Office of Comptroller of the Currency, said at a congressional hearing Dec. 2.
The
order is In the Matter of Residential Mortgage Foreclosure Pleading and
Document Irregularities, Administrative Order 01-2010.
To contact the reporters on this story: David Voreacos in Newark, New Jersey, at dvoreacos@bloomberg.net; Jody Shenn in New York at jshenn@bloomberg.net.
Order with supporting docs below...
4closureFraud.org
Order to Show Cause Issued by Judge Mary Jacobson - Residential Mortgage Foreclosures - Robosigning
Order to Show Cause Issued by Judge Mary Jacobson - Residential Mortgage Foreclosures - Robosigning
Administrative
Order Directing Submission of Information from Residential Mortgage
Foreclosure Plaintiffs Concerning Their Document Execution Practices to a
Special Master
Administrative Order Directing Submission of Information From Residential Mortgage Foreclosure Plaintiffs C... Notice and Order - Emergent Amendments to Rules 1:5-6, 4:64-1, and 4:64-2 - Residential Mortgage Foreclosures
Notice and Order - Emergent Amendments to Rules 1 5-6, 4 64-1, And 4 64-2 - Residential Mortgage Foreclosures
robert shumake detroit
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
Shakesville: Brett Favre <b>News</b>
Brett Favre News. [Trigger warning for sexual assault, which applies to both links] [Link includes descriptions of sexual assault] Associated Press: "Two massage therapists sued Brett Favre on Monday, saying they lost them their ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
Shakesville: Brett Favre <b>News</b>
Brett Favre News. [Trigger warning for sexual assault, which applies to both links] [Link includes descriptions of sexual assault] Associated Press: "Two massage therapists sued Brett Favre on Monday, saying they lost them their ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake
This is probably the MOST ALARMING news I’ve read in a long time! State Attorney General Tom Miller seems to have given American consumers false hope that we would not sink in the Economic Titanic, created from BLATANT FINANCIAL FRAUD & GREED.
Consumers are at the mercy of their State Attorneys General to perform their duty, primarily to vigorously attack economic fraud! Prior to deals with lenders, SCORES OF PEOPLE NEED TO BE JAILED in order to deter this social scourge.
I don’t know that what I say / do makes much difference, but I’ll keep SPEAKING OUT about financial frauds.
The settlement “deal” show that working class people have no real surety for consumer rights. It shows that Americans cannot afford to rely on lawmakers for our well-being; and we must enhance our knowledge base –for our good as well as our loved ones and neighbors.
Concerning foreclosure fraud, outrageous facts are contained in the Petition: “Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers” @ http://chn.ge/eU2zA. Hopefully, people will continue signing and sharing that petition. Perhaps we can also bombard our AG’s with copies, compelling them to investigate and prosecute wrongdoers.
More than ever –aside from lawmakers, investigative reporters who put their safety on the line, and news media– average citizens need also to TAKE INITIATIVES for a better America.
*Commentary: “Emerging Battleground on Mortgage Abuses: Foreclosure Mills” @ http://t.co/riJXgou
*Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers http://chn.ge/eU2zAm
KABOOM! BofA, GMAC, Chase, Wells, Citi, Onewest Face N.J. Foreclosure Freeze
This is coming in from multiple fronts...
Chink in the Armor
The State Supreme Court of NJ has ordered a halt to all foreclosure in the state of NJ.
This is most excellent news for the reason you may not realize:
NJ is owned by the Wall St. Bankers. Remember the movie Copland about a town in NJ owned and run by a bunch of NYC cops?
Guess
who used to be Governor of NJ? Corzine. Guess what his job was before
he became Governor? Head of Goldman Sachs. If you are a banker of
certain levels, you live in one of three places, Manhattan, Long
Island, or NJ (what exit?). NJ is owned and operated by the large NY
banking firms so for the Supreme Court to turn on them is stupendous
news.
V
www.chinkinthearmor.net
Matt Weidner
Apparently
the practices in foreclosure courts in New Jersey have gotten so out
of hand that the court has initiated an inquiry into the questionable
nature and inaccuracies of documents submitted in courts across the
entire state.
The
attached Order is filled with all sorts of crazy language like,
“Protecting the integrity of the judicial foreclosure process” and the
“need to restore integrity to the foreclosure process” and “due
process”.
Apparently
there were six “foreclosure Plaintiffs with a public record of
questionable practices” which the court felt compelled to address in
its supervisory capacity.
What in God’s name is going on up there in New Jersey?
Things
are just fine down here in Florida…..no problems with integrity or due
process or robo signing…no sir-ee, things are just fine thank y’all
very kindly.
Them banks ain’t run us over down here….no sir-ee, things are just fine thank y’all very kindly.
The integrity of our real property system is not in run…..no sir-ee, things are just fine thank y’all very kindly.
Us dumb
yokels down here in Florida cain’t hardly read all them fancy
newspapers and we ain’t heard ‘nuthin ’bout ‘nuthin going on in
Congress.
So you go on with yer investergatin…we’s jus fine down here in Sunnie Floreeduh!
Bloomberg
BofA, Lenders Face Possible N.J. Foreclosure Freeze
Bank of America Corp., JPMorgan Chase & Co.
and four other mortgage lenders and loan servicers face a possible
suspension of home foreclosures in New Jersey by Jan. 19 under a judge’s
order.
The action, announced today by New Jersey Supreme Court Chief Justice Stuart Rabner, also covers Citigroup Inc.’s mortgage unit, Ally Financial Inc.’s GMAC mortgage unit, OneWest Bank and Wells Fargo & Co.
The lenders were implicated in “robo-signing,” the submission of
hundreds or thousands of foreclosure claims that falsely swore to
personal knowledge of their contents, Rabner said.
The six
companies must “show cause why the processing of uncontested residential
foreclosure matters they have filed should not be suspended,” under an
order by Judge Mary C. Jacobson in state court in Trenton.
“It’s
important that the judiciary ensures that judges are not rubber-stamping
documents of questionable reliability,” Rabner said today in a
conference call with reporters.
Another
24 lenders and loan servicers with more than 200 residential foreclosure
actions each in 2010 must “demonstrate affirmatively that there are no
irregularities in their handling of foreclosure proceedings,” according
to an order by Judge Glenn A. Grant, administrative director of the
courts.
First U.S. State
Rabner
said New Jersey is the first U.S. state to take such an action. The
state’s courts received 21,752 new foreclosures in 2006 and have gotten
65,222 this year, according to Grant’s order. Only 6 percent of cases
were contested this year, meaning 94 percent lacked “any meaningful
adversarial proceeding,” according to the order.
Lawyers
in foreclosure cases must also certify that they have communicated to
employees at the mortgage companies that they have personally reviewed
all documents and that they are accurate, Rabner said.
Bank of
America, Wells Fargo and JPMorgan are the three biggest U.S. home-loan
servicers, handling payment collections, debt modifications and
foreclosures on almost 50 percent of the $10.7 trillion of outstanding
mortgages, according to newsletter Inside Mortgage Finance.
Attorneys
general from all 50 states in October started probing mortgage
servicers after revelations that they may have acted illegally in having
employees sign affidavits that they didn’t review. GMAC Mortgage,
JPMorgan Chase and Bank of America were among companies that temporarily
halted foreclosures amid claims that the legal documents were
mishandled.
Suspended Forclosures
Thomas Kelly,
a JPMorgan spokesman, declined to comment on the New Jersey order.
Since September, the New York-based bank has suspended foreclosures in
40 states, including New Jersey, he said. It resumed foreclosures in
some of those states, he said.
Jumana Bauwens,
a spokeswoman for Charlotte, North Carolina-based Bank of America, said
the bank is reviewing the judge’s order and can’t comment at this time.
Gina Proia, a spokeswoman for Detroit-based Ally Financial, declined to comment.
New York-based Citigroup “will review the Justice’s order and will ensure that we meet the new requirements,” spokesman Mark Rodgers said in an e-mail.
Foreclosure Review
“Citi
has been continuously reviewing its foreclosure processes with respect
to its U.S. mortgage portfolios,” Rodgers said. “Last year, we took a
series of steps to strengthen our processes and added additional
resources to ensure foreclosures were being processed correctly.”
Diane Henry,
a spokeswoman for Pasadena, California-based OneWest, declined to
comment. OneWest was formed in the aftermath of IndyMac Bancorp’s
failure.
Jason Menke,
a spokeswoman for San Francisco-based Wells Fargo, said in an e-mail:
“We recognize and respect the need to ensure we always comply with
respective state laws. With our outside counsel, we intend to comply
with the New Jersey court’s order and demonstrate why the foreclosures
scheduled in New Jersey should move forward.”
U.S. bank regulators investigating foreclosure problems could impose fines or seek criminal penalties as soon as January, said Julie L. Williams, chief counsel of the Office of Comptroller of the Currency, said at a congressional hearing Dec. 2.
The
order is In the Matter of Residential Mortgage Foreclosure Pleading and
Document Irregularities, Administrative Order 01-2010.
To contact the reporters on this story: David Voreacos in Newark, New Jersey, at dvoreacos@bloomberg.net; Jody Shenn in New York at jshenn@bloomberg.net.
Order with supporting docs below...
4closureFraud.org
Order to Show Cause Issued by Judge Mary Jacobson - Residential Mortgage Foreclosures - Robosigning
Order to Show Cause Issued by Judge Mary Jacobson - Residential Mortgage Foreclosures - Robosigning
Administrative
Order Directing Submission of Information from Residential Mortgage
Foreclosure Plaintiffs Concerning Their Document Execution Practices to a
Special Master
Administrative Order Directing Submission of Information From Residential Mortgage Foreclosure Plaintiffs C... Notice and Order - Emergent Amendments to Rules 1:5-6, 4:64-1, and 4:64-2 - Residential Mortgage Foreclosures
Notice and Order - Emergent Amendments to Rules 1 5-6, 4 64-1, And 4 64-2 - Residential Mortgage Foreclosures
robert shumake
robert shumake
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
Shakesville: Brett Favre <b>News</b>
Brett Favre News. [Trigger warning for sexual assault, which applies to both links] [Link includes descriptions of sexual assault] Associated Press: "Two massage therapists sued Brett Favre on Monday, saying they lost them their ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
Shakesville: Brett Favre <b>News</b>
Brett Favre News. [Trigger warning for sexual assault, which applies to both links] [Link includes descriptions of sexual assault] Associated Press: "Two massage therapists sued Brett Favre on Monday, saying they lost them their ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake detroit
If you want to clean foreclosed properties for a living, it is the perfect time to start. Why? According to the 1/4/09 LA Times article, HUD funds to help cities clean up foreclosures, Congress has allocated $4 billion to help clean up the rash of home foreclosures across the country.
The articles states, "Across the country, cities and counties are performing housing triage as they prepare to spend the $4 billion Congress has allocated under the Neighborhood Stabilization Program." This is good news for three reasons for foreclosure cleanup companies.
3 Reasons the Neighborhood Stabilization Program is Good News for Those Who Want to Clean Foreclosed Properties
1. Funds must be spent: Once the government allocates funds for certain purposes, the monies must be spent, or the local municipalities lose those funds. There isn't a government official who's ever been elected who wants to give money back, so city and county officials will be glad to loose the purse strings and spend every penny.
And, if you're one of the lucky ones who acted on your desire to clean foreclosed properties, you may just be in line for some foreclosure cleanup contracts, which brings us to the next point.
2. Foreclosure Cleanup Contracts: Local governments like to do business with businesses. They will probably put some type of bidding process in place so that owners of foreclosure cleanup companies can bid on foreclosure cleanup contracts.
This means now is the time to start your foreclosure cleanup business, ie, get licensed, bonded and insured. Most likely, you'll be one of the few "qualified companies" in town who meet all the criteria to bid on any foreclosure cleanup contracts your city/county offers. And, with guaranteed funds in place -- getting paid is not something you'll have to worry about.
3. Catapult Your Business: Most newbies to this business never think beyond their desire to "just" clean foreclosed properties. But, starting out with a government contract can catapult your business to the next level -- almost from the beginning.
Imagine having guaranteed business almost immediately. This exponentially increases your chances of success as a foreclosure cleanup service. The beauty of getting foreclosure cleanup contracts with your local government is that you make contacts that can ensure more business down the road.
Clean Foreclosed Properties: There's Never Been a Better Time to Start
The bottom line is if you want to clean foreclosed properties for a living, now is the best time to start. The government is extremely anxious to start rehabbing foreclosed properties -- and they're putting their money where their mouth is. According to the article mentioned above, "It's [the Neighborhood Stabilization Program] like no other government program I've seen . . . They want to get the money on the streets, fast."
To learn how to clean foreclosed properties for a living -- and get your piece of this $4 billion pie -- log on to http://Start-a-Foreclosure-Cleanup-Business.com.
robert shumake
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
Shakesville: Brett Favre <b>News</b>
Brett Favre News. [Trigger warning for sexual assault, which applies to both links] [Link includes descriptions of sexual assault] Associated Press: "Two massage therapists sued Brett Favre on Monday, saying they lost them their ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake
robert shumake
This is probably the MOST ALARMING news I’ve read in a long time! State Attorney General Tom Miller seems to have given American consumers false hope that we would not sink in the Economic Titanic, created from BLATANT FINANCIAL FRAUD & GREED.
Consumers are at the mercy of their State Attorneys General to perform their duty, primarily to vigorously attack economic fraud! Prior to deals with lenders, SCORES OF PEOPLE NEED TO BE JAILED in order to deter this social scourge.
I don’t know that what I say / do makes much difference, but I’ll keep SPEAKING OUT about financial frauds.
The settlement “deal” show that working class people have no real surety for consumer rights. It shows that Americans cannot afford to rely on lawmakers for our well-being; and we must enhance our knowledge base –for our good as well as our loved ones and neighbors.
Concerning foreclosure fraud, outrageous facts are contained in the Petition: “Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers” @ http://chn.ge/eU2zA. Hopefully, people will continue signing and sharing that petition. Perhaps we can also bombard our AG’s with copies, compelling them to investigate and prosecute wrongdoers.
More than ever –aside from lawmakers, investigative reporters who put their safety on the line, and news media– average citizens need also to TAKE INITIATIVES for a better America.
*Commentary: “Emerging Battleground on Mortgage Abuses: Foreclosure Mills” @ http://t.co/riJXgou
*Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers http://chn.ge/eU2zAm
KABOOM! BofA, GMAC, Chase, Wells, Citi, Onewest Face N.J. Foreclosure Freeze
This is coming in from multiple fronts...
Chink in the Armor
The State Supreme Court of NJ has ordered a halt to all foreclosure in the state of NJ.
This is most excellent news for the reason you may not realize:
NJ is owned by the Wall St. Bankers. Remember the movie Copland about a town in NJ owned and run by a bunch of NYC cops?
Guess
who used to be Governor of NJ? Corzine. Guess what his job was before
he became Governor? Head of Goldman Sachs. If you are a banker of
certain levels, you live in one of three places, Manhattan, Long
Island, or NJ (what exit?). NJ is owned and operated by the large NY
banking firms so for the Supreme Court to turn on them is stupendous
news.
V
www.chinkinthearmor.net
Matt Weidner
Apparently
the practices in foreclosure courts in New Jersey have gotten so out
of hand that the court has initiated an inquiry into the questionable
nature and inaccuracies of documents submitted in courts across the
entire state.
The
attached Order is filled with all sorts of crazy language like,
“Protecting the integrity of the judicial foreclosure process” and the
“need to restore integrity to the foreclosure process” and “due
process”.
Apparently
there were six “foreclosure Plaintiffs with a public record of
questionable practices” which the court felt compelled to address in
its supervisory capacity.
What in God’s name is going on up there in New Jersey?
Things
are just fine down here in Florida…..no problems with integrity or due
process or robo signing…no sir-ee, things are just fine thank y’all
very kindly.
Them banks ain’t run us over down here….no sir-ee, things are just fine thank y’all very kindly.
The integrity of our real property system is not in run…..no sir-ee, things are just fine thank y’all very kindly.
Us dumb
yokels down here in Florida cain’t hardly read all them fancy
newspapers and we ain’t heard ‘nuthin ’bout ‘nuthin going on in
Congress.
So you go on with yer investergatin…we’s jus fine down here in Sunnie Floreeduh!
Bloomberg
BofA, Lenders Face Possible N.J. Foreclosure Freeze
Bank of America Corp., JPMorgan Chase & Co.
and four other mortgage lenders and loan servicers face a possible
suspension of home foreclosures in New Jersey by Jan. 19 under a judge’s
order.
The action, announced today by New Jersey Supreme Court Chief Justice Stuart Rabner, also covers Citigroup Inc.’s mortgage unit, Ally Financial Inc.’s GMAC mortgage unit, OneWest Bank and Wells Fargo & Co.
The lenders were implicated in “robo-signing,” the submission of
hundreds or thousands of foreclosure claims that falsely swore to
personal knowledge of their contents, Rabner said.
The six
companies must “show cause why the processing of uncontested residential
foreclosure matters they have filed should not be suspended,” under an
order by Judge Mary C. Jacobson in state court in Trenton.
“It’s
important that the judiciary ensures that judges are not rubber-stamping
documents of questionable reliability,” Rabner said today in a
conference call with reporters.
Another
24 lenders and loan servicers with more than 200 residential foreclosure
actions each in 2010 must “demonstrate affirmatively that there are no
irregularities in their handling of foreclosure proceedings,” according
to an order by Judge Glenn A. Grant, administrative director of the
courts.
First U.S. State
Rabner
said New Jersey is the first U.S. state to take such an action. The
state’s courts received 21,752 new foreclosures in 2006 and have gotten
65,222 this year, according to Grant’s order. Only 6 percent of cases
were contested this year, meaning 94 percent lacked “any meaningful
adversarial proceeding,” according to the order.
Lawyers
in foreclosure cases must also certify that they have communicated to
employees at the mortgage companies that they have personally reviewed
all documents and that they are accurate, Rabner said.
Bank of
America, Wells Fargo and JPMorgan are the three biggest U.S. home-loan
servicers, handling payment collections, debt modifications and
foreclosures on almost 50 percent of the $10.7 trillion of outstanding
mortgages, according to newsletter Inside Mortgage Finance.
Attorneys
general from all 50 states in October started probing mortgage
servicers after revelations that they may have acted illegally in having
employees sign affidavits that they didn’t review. GMAC Mortgage,
JPMorgan Chase and Bank of America were among companies that temporarily
halted foreclosures amid claims that the legal documents were
mishandled.
Suspended Forclosures
Thomas Kelly,
a JPMorgan spokesman, declined to comment on the New Jersey order.
Since September, the New York-based bank has suspended foreclosures in
40 states, including New Jersey, he said. It resumed foreclosures in
some of those states, he said.
Jumana Bauwens,
a spokeswoman for Charlotte, North Carolina-based Bank of America, said
the bank is reviewing the judge’s order and can’t comment at this time.
Gina Proia, a spokeswoman for Detroit-based Ally Financial, declined to comment.
New York-based Citigroup “will review the Justice’s order and will ensure that we meet the new requirements,” spokesman Mark Rodgers said in an e-mail.
Foreclosure Review
“Citi
has been continuously reviewing its foreclosure processes with respect
to its U.S. mortgage portfolios,” Rodgers said. “Last year, we took a
series of steps to strengthen our processes and added additional
resources to ensure foreclosures were being processed correctly.”
Diane Henry,
a spokeswoman for Pasadena, California-based OneWest, declined to
comment. OneWest was formed in the aftermath of IndyMac Bancorp’s
failure.
Jason Menke,
a spokeswoman for San Francisco-based Wells Fargo, said in an e-mail:
“We recognize and respect the need to ensure we always comply with
respective state laws. With our outside counsel, we intend to comply
with the New Jersey court’s order and demonstrate why the foreclosures
scheduled in New Jersey should move forward.”
U.S. bank regulators investigating foreclosure problems could impose fines or seek criminal penalties as soon as January, said Julie L. Williams, chief counsel of the Office of Comptroller of the Currency, said at a congressional hearing Dec. 2.
The
order is In the Matter of Residential Mortgage Foreclosure Pleading and
Document Irregularities, Administrative Order 01-2010.
To contact the reporters on this story: David Voreacos in Newark, New Jersey, at dvoreacos@bloomberg.net; Jody Shenn in New York at jshenn@bloomberg.net.
Order with supporting docs below...
4closureFraud.org
Order to Show Cause Issued by Judge Mary Jacobson - Residential Mortgage Foreclosures - Robosigning
Order to Show Cause Issued by Judge Mary Jacobson - Residential Mortgage Foreclosures - Robosigning
Administrative
Order Directing Submission of Information from Residential Mortgage
Foreclosure Plaintiffs Concerning Their Document Execution Practices to a
Special Master
Administrative Order Directing Submission of Information From Residential Mortgage Foreclosure Plaintiffs C... Notice and Order - Emergent Amendments to Rules 1:5-6, 4:64-1, and 4:64-2 - Residential Mortgage Foreclosures
Notice and Order - Emergent Amendments to Rules 1 5-6, 4 64-1, And 4 64-2 - Residential Mortgage Foreclosures
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