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Mortgage Related

Brookstone Law Mass Tort Solicitation Mailer

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A reader has sent in a mailer by Brookstone Law titled “Notice Regarding Mass Tort Litigation Lawsuits.” The mailer claims that potential claims made against lenders by consumers participating are: Fraudulent Mortgage Note Origination Fraudulent Concealment and Misrepresentation at Time of Origination Patriot Act Violations/Unlawful Funding of Note Improper Securitization of Loan/Note Improper Assignment of Mortgage/Deed of Trust/MERS Breach of ... Read More »

Precision Law Center Disappearance Solved. FTC Took Action.

Thanks to a tipster (send in your tips here) the mystery about what happened to Precision Law Center is not solved. According to the Precision Law Receivership site: On March 5, 2012, the Federal Trade Commission filed an action against Defendants Sameer Lakhany, The Credit Chop, LLC, Fidelity Legal Services LLC, Titanium Realty Inc., Precision Law Center, Inc., and Precision ... Read More »

California Attorneys Arrested and Booked for Taking Money From Consumer for Mortgage Help

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The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and California Attorney General Kamala D. Harris today announced the arrests of the owners and managing attorney of a law firm that took thousands of dollars in up-front loan modification fees for services that were never performed for homeowners, many of whom ended up losing their ... Read More »

Scam Alert – Beware of People Promising Help or Money From Mortgage Company Settlements

It appears consumers are receiving calls from telemarketers claiming they are eligible to receive part of the $25 billion settlement a number of states reached with mortgage servicers and foreclosure servicers. Callers are requesting the bank account information to direct deposit funds into the consumers account from the government settlement fund. It is a scam. Funds will not be deposited ... Read More »

Will Proposed Government Programs Really Help Homeowners?

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by Cora Currier ProPublica The Obama administration has recently unveiled a string of proposals to help struggling homeowners and get the housing market back on its feet2014 part of the administration’s “We Can’t Wait” election year to-do list. Of course, the White House has made big promises before about helping homeowners, only to see them disappoint time and again. Here ... Read More »

Senators Angry About Freddie Mac Betting Against Homeowners

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by Jesse Eisinger ProPublica Sen. Robert Menendez, D-N.J., had sharp words for Freddie Mac’s investment practices and conflicts of interest at a Senate Banking Committee hearing Thursday. The senator’s concerns came in the wake of a ProPublica and NPR report that Freddie, the giant taxpayer-owned mortgage company, had made concentrated investments in complex mortgage securities that benefited from the inability ... Read More »

Mortgage Settlement With Banks Leaves Consumers Still Looking In the Abandoned Windows

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by Cora Currier ProPublica The Obama administration is billing today’s $25 billion agreement between most states and five banks that engaged in flawed or deceptive practices as a big win for struggling homeowners. Most of the money in the settlement isn’t a penalty, or a fine levied on the banks. Instead, the biggest slice of the settlement will be money ... Read More »

Federal Housing Finance Agency Just STICKING it to Homeowners

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by Cora Currier ProPublica, Last week, ProPublica and NPR raised questions about a risky investment strategy at Freddie Mac that would pay off if homeowners stayed trapped in expensive mortgages. It’s just the latest example of how government-owned Freddie Mac and Fannie Mae have frustrated many by not putting homeowners first. Fannie and Freddie are required to help homeowners while ... Read More »

Pennsylvania Reader Sends in New Form H-118 From New York

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The Form H-118 is very similar to the Form 1012-R mailings that have been sent to consumer all across the country. They are deceptive in that they attempt to portray themselves as official mailers or government forms. Mailers similar to this have been slammed in mass joinder legal actions in California and the subject of numerous warnings. A reader just ... Read More »

Kramer, Stein Mass Joinder / Mass Tort Updates for Those Involved

The Receiver in the Mass Joinder legal proceeding in California against lawyers that had marketed Mass Joinder suits against mortgage lenders has released an update. December 1, 2011 The State Bar of California has taken possession of the law practices of Kramer and Kaslow, Mitchell J. Stein, Christopher Van Son, Paul Peterson (Mesa Law Group), and Anthony Kassas (Kassas Law ... Read More »

Reporter Helps to Bring Down Steven J. Baum Foreclosure Mill

Steven Baum Party

Well it’s over. It appears the law firm of Steven J. Baum, P.C. in New York is laying off 89 employees and closing up shop. I doubt you’d recognize the name of the lawyer or the firm but I bet you’ve recognize some of the pictures that were recently published from the office Halloween party in 2010. This pictures sent ... Read More »

Allied Home Mortgage The Subject of Fed Case

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Feds File Massive Fraud Case Against Allied Home Mortgage by Tracy Weber and Charles Ornstein ProPublica, Nov. 1, 2011, 5:51 p.m.by Charles Ornstein and Tracy Weber, ProPublica, July 2, 2010by Tracy Weber and Charles Ornstein, ProPublica, July 2, 2010by Charles Ornstein and Tracy Weber, ProPublica, July 2, 2010 Federal prosecutors sued Allied Home Mortgage Capital Corp. and two top executives ... Read More »

What Affects Mortgage Rates?

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The good news about mortgage rates? They’ve been at or near historic lows recently, and by all indications they should stay fairly low for the short term. But as anyone who follows these rates knows, they can be very volatile – sometimes changing multiple times in one day. What affects mortgage rates? In May 2011 I interviewed Joe Kelly, founder ... Read More »

LA Court Issues Permanent Order Assuming Jurisdiction Over the Law Practice of Mitchell J. Stein

Mitchell J. Stein is an attorney in California who was alleged to be involved in the marketing of mass joinder cases to consumers to join a lawsuit against their mortgage lenders. A permanent order was issued on October 26, 2011 and states the State Bar of California, Office of Chief Trial Counsel is appointed to do the following: Examine, retrieve, ... Read More »

Mitchell J. Stein Transcript From California Action Involving Mass Joinder Marketing Part 1

Mitchell J. Stein, Esq. is said to have played a role in the mass joinder scheme that appears to have evolved in California. At least that’s what a judge said recently, which I covered in this article. More documents on this issue have arrived on my desk, a 99 page transcript of the proceeding on October 19, 2011. In an ... Read More »

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