En el 2011 GreenPoint Mortgage fué demandado por discriminación contra hispanos y afroamericanos

Llame hoy y di toda la información de la casa de mis padres. Dijeron que en una semana me llama un consejero para darme información adicional. También dijeron que envian un paquete por correo. Me pidieron el nombre de mis padres y la dirección de la propiedad, cuantos meses de atraso en los pagos, si estaban en proceso de ejecución hipotecaria, si sabía el nombre del banco y si ya los había contactado, si ya se había hecho una modificación y creo que nada mas.

http://greenpointlendingsettlement.com/

Demanda a JPMorgan por $95 Millones

JPMorgan Chase Is Sued For $95 Million

Posted by Eli Wads On Jan 3, 2012 6:09pm in World

It’s really no surprise that after 2008 a lot of people have lost their confidence in banks and their ability to protect their assets. All in all, investors, consumers and regulators have shifted their attitude towards banks. JPMorgan Chase is getting sued for $95 million over mortgage loans bundled into securities.

According to Reuters, JPMorgan Chase & Co has been sued for $95 million by the trustee for securities marketed in 2005 by former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans.

Court documents show that US Bank NA’s objective is to force JPMorgan Chase & Co to buy back the mortgage loans because of alleged breaches of representations and warranties regarding the Bear Stearns Asset Backed Securities Trust 2005-4, for which it serves as trustee.

The allegations say that JPMorgan has “materially breached” representations about loans backing the securities. 

Judge Allows South Florida Homeowner to Sue Investors In Lawsuit Charging Financial Institutions With Mortgage Appraisal and Origination Fraud

Wells Fargo, Greenpoint Mortgage Funding, and Credit Suisse First Boston Mortgage Securities Corp. adjustable rate mortgage trust named as defendants.

MIAMI, FL, October 04, 2011 /24-7PressRelease/ -- A Miami-Dade Circuit Court Judge has granted Coral Gables, Fla. homeowner Pelayo Duran permission to include investors in his lawsuit charging Wells Fargo, Greenpoint Mortgage Funding and others with mortgage appraisal and origination fraud (Case #09-03703-CA). This development comes days after the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, sued 17 large banks and financial institutions over losses on about $200 billion of subprime bonds, as well as, AIG's lawsuit against the Bank of America claiming that it lost $10 billion in a "massive fraud."

"It's believed the defendants, just like in the other high-profile cases, fraudulently induced others to invest in mortgage-backed securities supported by scores of defective loans," said Duran. "Basically the defendants generated or acquired any loan, no matter how risky, that could be sold to third party investors. I was an unsuspecting victim who applied for a loan, but was duped into something else."
Duran alleges in his lawsuit that the fraud began when he tried to refinance his primary residence in 2005. He purchased the home in 2004 with an initial down payment of $100,000. Shortly after the purchase, Duran needed to access some of the down payment money to pay for a few personal and business obligations. Duran alleges that the Wells Fargo mortgage broker baited and switched him into a subprime home mortgage with Greenpoint.

Participación de Faction Capital Assists en la compra de mas de $500 millones en prestamos "morosos"

NEWS

Faction Capital Assists in Acquisitions of over $500 Million Dollars in Distressed Loans


Miami, Florida - Friday, September 16, 2011 – Faction Capital, LLC, www.factioncapital.com, announced the second closing of a distressed loan portfolio with a major national lender and its client US Debt Ventures in the past 6 months.

On the first transaction, Faction Capital acted as consultant and introducing party for US Debt Ventures in its purchase of a pool of 7000 residential non-performing mortgages with a balance of $500MM from a large financial institution.

In August, Faction Capital assisted US Debt Ventures in sourcing another sizeable portfolio purchase. In addition to sourcing the loan portfolios, Faction Capital’s team of Logan Breen, James Daly, IV and Aaron Resnick assisted US Debt Ventures in obtaining servicing for a portion of the loan portfolios that were purchased.

Logan Breen, Managing Director of Faction Capital, commented "[o]ur experienced consulting team, relationships and background helped us add value to our clients’ investment strategies. We are proud of our working relationship with US Debt Ventures and hope to assist it in many more distressed opportunities in the future." Aaron Resnick, a partner/principal at the firm and a South Florida attorney articulated that Faction Capital’s work in assisting its client in these loan portfolio opportunities demonstrated the "Faction Capital’s ability to help its clients obtain unique off market distressed opportunities both statewide and nationally."

Source: http://www.factioncapital.com/index.php/news

PR Newswire: USDV anuncia nuevas compras de préstamos "morosos"

US Debt Ventures Announces New Distressed Loan Portfolio Purchases FORT LAUDERDALE, Fla., Aug. 15, 2011/PRNewswire-iReach/ -- US Debt Ventures, a Fort Lauderdale, Florida- based private equity firm, today announced two portfolio purchases over the past 30 days totaling approximately $12MM, acquiring 171 distressed loans.  The first acquisition is comprised of first lien non-performing loans and REO's and was bought from a national banking institution with Florida-based underlying collateral. The average unpaid principal balance in this portfolio is $266,000.  The second, more recent investment was in a second lien performing loan portfolio from a national banking institution with collateral assets located throughout the United States. Kwame Jackson, President of US Debt Ventures stated, "Our purpose is clear- we intend to maximize returns by pursuing the best risk-adjusted work-out strategy on a loan by loan basis on behalf of our investors.  We have a growing number of sophisticated tools, third party data sources, and internal feedback loops that aid in our strategy optimization and execution efforts."

AMO de JPMorgan a USDV-RVC WH 4, LLC

Este es el mas reciente "Assignment of Mortgage" (AMO) registrado en los records públicos de Miami-Dade.
El "Assignor" es JP Morgan Mortgage Acquisition Corp. y el "Assignee" es USDV-RVC WH 4, LLC (US Debt Ventures) cuya dirección aparece como 4644 Coral Ridge Drive, Coral Springs, FL 33076.
Buscando por la dirección, encontre que Veriloquent Wealth Advisors, teléfono (954) 755-9319 y (888) 684-2199,  sitio web www.vwallc.com esta localizado en la misma dirección, Todd Billins es el CEO. Pero esta es toda la información que he podido encontrar hasta el momento.
El AMO fue firmado y notarizado el 30 de Junio del 2011 y registrado el 18 de Julio del mismo año.
Los testigos fueron Seth Fenton y Jonathan Davis.
La ejecutiva de JPMorgan que firma es Helaine Hebble como Director Ejecutivo.
El documento fué notarizado por Migdalia Dereyayla, notaria del estado de New York.

PR Newswire: USDV anuncia compra de $28MM en préstamos "morosos"

US Debt Ventures Announces $28MM Non-Performing Loan Portfolio Purchase FORT LAUDERDALE, Fla., June 23, 2011/PRNewswire-iReach/ -- US Debt Ventures, a Fort Lauderdale, Florida- based private equity firm, today announced the purchase of a $28MM residential first lien loan portfolio from a regional financial institution.  The portfolio purchase, which includes 87 loans with collateral property located throughout the state of Florida , represents the inception of US Debt Ventures Fund, L.P.  The average unpaid mortgage balance is approximately $325,000. Todd Billings, CEO of US Debt Ventures stated, "With our in-house analytics and sophisticated management tools, US Debt Ventures fuels its growth through disciplined, quality portfolio acquisitions and creative workout arrangements.  We have focused our investments on debt portfolios which we believe are priced well below par and are perhaps being managed inefficiently, so that the purchase provides a unique opportunity for returns to our investors." US Debt Ventures purchases bulk mortgage portfolios from most the major U.S. financial institutions, as well as many loan servicers and various other owners of distressed loan and REO portfolios.  So far in 2011, the US Debt Ventures group has purchased more than 7,000 distressed loans through multiple acquisitions. About US Debt Ventures: US Debt Ventures is a private-equity firm based out of Fort Lauderdale, Florida led by Todd Billings and sponsored by a group of high net worth investors.  The company focuses on acquisitions of distressed whole loan and REO acquisitions and is an active player in the distressed debt market. For more information please contact 800.716.2370 or visit www.usdebtventures.com Media Contact: Joanne Polin Profile Marketing & Public Relations, 561-350-8784, jpolin@profilemarkpr.com SOURCE US Debt Ventures

Find this article at:  http://www.prnewswire.com/news-releases/us-debt-ventures-announces-28mm-non-performing-loan-portfolio-purchase-124422188.html

SFL Biz Journals: USDV atrapa préstamos problemáticos

U.S. Debt Ventures snaps up problem loans

Premium content from South Florida Business Journal by Brian Bandell

Date: Friday, April 29, 2011, 6:00am EDT

Todd Billings and Jamie Zambrana have gone from being wealth advisers to controlling delinquent mortgages for thousands of homeowners.


Billings and Zambrana, who met 15 years ago when they were Nasdaq traders on Wall Street, now run Veriloquent Wealth Advisors and U.S. Debt Ventures in Coral Springs. The latter company recently purchased $500 million in nonperforming residential mortgages from a major bank at a significant discount. Billings said he plans to work with borrowers, even discounting principal, to keep them in their homes when it makes sense.

“If I know it would make more sense to keep you in the house, paying a mortgage you can afford, versus going in foreclosure and having you rip out the electronics and appliances, I would work out the loan,” Billings said.

So, how did a new company with 11 employees acquire such a large portfolio? Billings said it started at the Fort Lauderdale office of U.S. Trust, where he was a wealth adviser working with many high-net-worth families. In November 2008, he and Zambrana formed Veriloquent – and took many of his clients with him.

DS News: USDV adquiere $500 millones en prestamos "morosos"

US Debt Ventures Acquires $500M Non-Performing Loan Pool

By: Heather Hill Cernoch 04/20/2011

US Debt Ventures, a Florida-based private equity firm, recently purchased a pool of non-performing mortgages valued at $500 million from a large financial institution.


Consisting of approximately 7,000 first, second, and third liens from across the nation, the purchase is part of the company’s strategy to acquire and work out large portfolios of distressed mortgages.

“US Debt Ventures’ primary focus is to optimize returns for investors while helping borrowers to clean up their negative credit situation through realistic yet creative solutions,” said Todd Billings, the company’s CEO.

He continued, “We have taken on the role of a dedicated and stable mortgage solutions provider in today’s volatile real estate market. As a private equity firm with strong financial backing, we can fill the capital void needed in today’s distressed marketplace.”

According to Jamie Zambrana, US Debt Ventures’ director of acquisitions and analytics, the purchase is a precursor for more bulk buys in 2011 and 2012.

“Our in-house analyses and underwriting capabilities as an experienced distressed debt buyer will lead us to successfully deploying several hundred million dollars in the next few years,” Zambrana said.

©2012 DS News. All Rights Reserved.

Bloomberg: Denuncian a EMC de JPMorgan sobre documentos de prestamos hipotecarios

JPMorgan’s EMC Mortgage Sued Over Home Loan Documents

By Sophia Pearson - Jan 18, 2011

JPMorgan Chase & Co.’s EMC Mortgage, facing homeowner lawsuits over foreclosures, was sued by the trustee of a mortgage portfolio for refusing to turn over documents detailing the quality of loans bought by the trust.

Wells Fargo & Co., the trustee, is seeking access to files for more than 2,000 underlying mortgages in the Bear Stearns Mortgage Funding Trust 2007-AR2, according to the complaint filed today in Delaware Chancery Court in Wilmington.


“The trustee has repeatedly requested that EMC provide access to the subject documents,” Wells Fargo said in the complaint. “EMC has played proverbial ‘rope a dope’ and otherwise continued to drag its feet, and has produced nothing.”

Claims of wrongdoing by banks and loan servicers triggered a 50-state investigation last year into whether hundreds of thousands of foreclosures were properly documented as the housing market collapsed. Lending practices have also pitted mortgage-bond investors against banks over misrepresentations such as overstatements of borrowers’ income and inflated appraisals.

Christine Holevas, a spokeswoman for New York-based JPMorgan, declined to comment.

Wells Fargo said it needs access to the documents to answer “serious” questions raised by investors in the trust about whether EMC breached representations and warranties regarding the quality of option-adjustable rate mortgage loans the trust bought.

El escandalo MERS expuesto y explicado

MERS Scandal Exposed and Explained

Posted on December 9, 2008 by Neil Garfield


Kevin Lamson Said,


So can anyone guess the name of “organization” that was formed by Countrywide’s, Anthony Mazillo and Fannie Mae’s, James Johnson ten years ago, it start with an M? No not the Mafia. It’s Mortgage Electronic Registration Systems Inc. commonly referred to as MERS. Yes that’s right Countrywide and Fannie Mae were the lead organizers of MERS and are shareholders and “members” of MERS.


Here are excerpts from an investigative report on MERS I have been working on for the last several months. This may help shed some much needed light on MERS and the cozy relationships many of its so-called ‘members” have between each other and with our congress. It may also explain why no one in congress has bothered to investigate MERS and it crazy “paperless” system that these greedy mortgage executives invented so they could line their pockets by originating and flipping phony mortgage loans into so-called mortgage backed security trusts and then selling trillions of dollars of bonds to investors around the world. By reporting false profits from these sales Fannie Mae’s and Countrywide’s executives were able to make hundreds of millions of dollars in “bonuses”.


Given the extremely close relationship that MERS, its many corporate members have with the politicians who run our state and federal governments, it is not surprising that MERS and it members were able to pull off this gigantic global financial scheme without raising the brow of a State or Federal law enforcement or regulators. Only now are a few politicians and regulators paying lip service to what they refer to as the “Mortgage Meltdown”. What no politician or regulator ever seems to mention is that a millions of the mortgages that “melted down” have the name Mortgage Electronic Registration System Inc. on them.

Businessweek: Prestamos FHA: el nuevo robo

COVER STORY November 19, 2008, 6:24PM EST
FHA-Backed Loans: The New Subprime

The same people whose reckless practices triggered the global financial crisis are onto a similar scheme that could cost taxpayers tons more.

By Chad Terhune and Robert Berner

“Don’t let the makeover fool you.”

As if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers—many of them the very sorts of firms that helped create the current financial crisis—are going strong. Their new strategy: taking advantage of a long-standing federal program designed to encourage homeownership by insuring mortgages for buyers of modest means.

You read that correctly. Some of the same people who propelled us toward the housing market calamity are now seeking to profit by exploiting billions in federally insured mortgages. Washington, meanwhile, has vastly expanded the availability of such taxpayer-backed loans as part of the emergency campaign to rescue the country's swooning economy.

For generations, these loans, backed by the Federal Housing Administration, have offered working-class families a legitimate means to purchase their own homes. But now there's a severe danger that aggressive lenders and brokers schooled in the rash ways of the subprime industry will overwhelm the FHA with loans for people unlikely to make their payments. Exacerbating matters, FHA officials seem oblivious to what's happening—or incapable of stopping it. They're giving mortgage firms licenses to dole out 100%-insured loans despite lender records blotted by state sanctions, bankruptcy filings, civil lawsuits, and even criminal convictions.

Lo último en fraude hipotecario: el pago "balun"

'Blimp payment': the latest in mortgage fraud?

By Molly Priesmeyer

Tuesday, Jan. 15, 2008

Subprime was voted 2007's word of the year by the American Dialect Society. As 2008 opens, other dubious mortgage loans are surfacing, ripe for nicknames.

One such loan has a familiar name — balloon payment. But this latest version could be called a "blimp payment."

A lawsuit filed in December in Hennepin County District Court details the unfortunate case of South Minneapolis homeowner Stanzer Knox, who discovered that refinancing his house in early 2006 saddled him with, in effect, a 40-year mortgage.

Though he thought he had taken out a 30-year $185,000 loan, Knox and lawyer Mark Ireland eventually found in the fine print that he would have to make 10 years' worth of payments all at once at the end of the 30-year term.

Total amount of the blimp payment? $121,062.58.

Such details of the loan emerged after Knox fell behind on his mortgage payments and was threatened with foreclosure proceedings in May 2007, Ireland says. Knox's lawsuit claims that Homestead Mortgage Co., an Arden Hills-based business described as "inactive," violated a number of provisions in the Real Estate Settlement Procedures Act, among other statutes. The current loan holder, a Delaware company called Mortgage Electronic Registration System (MERS), did not return MinnPost's calls for comment.

Continuar leyendo aquí: http://www.minnpost.com/stories/2008/01/16/584/blimp_payment_the_latest_in_mortgage_fraud


Documentación completa de la demanda de Stanzer Knox aquí: 
http://www.hppinc.org/_uls/resources/Knox_Amended_Complaint.pdf

GreenPoint Mortgage cierra

Mortgage Companies Going Belly-Up

by M. Anthony Carr

GreenPoint Mortgage Funding is the latest mortgage company to shut its doors this year. Credit card giant CapitalOne, headquartered in the shadow of Washington, D.C., announced the immediate shutdown of GreenPoint, its loan origination subsidiary. Talk about a good idea gone bad -- CapitalOne just bought the company December of last year.

I like the way the CapitalOne press guys write this one up -- that the current market creates "significant near-term profitability challenges." I guess that means, we ain't makin' no money right now.

Note to shareholders: Oops.

One of the latest twists in an already topsy-turvy real estate market for agents and buyers is this -- if a mortgage company owns a lot of property from foreclosures, then where or to whom does a buyer make an offer to purchase such property since the holder of the house no longer exists -- at least in a healthy state.

The short-sale market (better known as pre-foreclosure) is alive and well around the country. But now we have the next challenge on these properties -- buyers in the midst of a transaction with an entity whose status is questionable at best, and totally phased out at worst.

Capital One cierra subsidiario GreenPoint Mortgage

Capital One Shuts Down GreenPoint Mortgage Unit

Mortgage meltdown claims another victim

08/21/2007 | Martin H.Bosworth | ConsumerAffairs.com

The mortgage meltdown has claimed yet another casualty, as Capital One announced it is shuttering its GreenPoint Mortgage wholesale lending unit. GreenPoint will close all 31 of its branches in 19 states, and its headquarters in California, Capital One said.

The McLean, Virginia-based lender also announced it was cutting 1,900 jobs across the board in an effort to cut costs. Capital One had already announced its plans to cut 2,000 jobs earlier in the year.

Capital One bought GreenPoint Mortgage for $13.2 billion in 2006, at the tail end of a five-year housing boom that saw record home prices and loans across the country. The closing of the unit will cost Capital One $860 million after taxes, according to the company.

Although Wall Street was expecting better trading today due to positive reports from retailers, the financial markets still showed nervousness in the face of another example of the mortgage meltdown's ripple effect across the global economy.

Lenders who specialized in "creative" and "nonconforming" loans with higher interest rates and steep payment increases have been downsizing or declaring bankruptcy in droves, leading to a global "credit crunch" as the markets pull back from lending and consumers stop borrowing.

Cierra GreenPoint Mortgage, compañia de préstamos hipotecarios

Greenpoint Mortgage Closed

Colin Robertson August 20, 2007 Comments Off

Greenpoint Mortgage was shut down today by parent Capital One Financial Corp., who said weak demand for residential home loans forced the company to shut the ailing mortgage lender. Capital One announced that it would cease loan origination operations at Greenpoint Mortgage immediately, and according to initial reports, cut roughly 1,900 jobs.

Loans that are already in the pipeline and locked will continue to be processed and should ultimately fund as scheduled.

The news followed similar statements made by the VP of investor relations for Capital One last week, who sparked employee concerns that the company was gearing up to close Greenpoint Mortgage. Greenpoint Mortgage headquarters in Novato, California will be closed, along with 31 other branches in 19 states throughout the United States.

Greenpoint Mortgage specialized in Alt-A loans, offering programs for borrowers with credit scores down to 620, as well as option-arms, second mortgages, jumbo loans, and other high-risk products. But earlier this year Greenpoint narrowed their product offerings significantly, effectively sinking loan volume and forcing the closure of 13 branches and 440 layoffs.

Premier Mortgage Funding declara bancarrota

Premier Mortgage Funding files BANKRUPTCY

Notice of Bankruptcy Case Filing

A bankruptcy case concerning the debtor(s) listed below was filed under Chapter 11 of the United States Bankruptcy Code, entered on 07/03/2007 at 08:56 AM and filed on 07/03/2007 at 08:56 AM. 

Premier Mortgage Funding, Inc.
3001 Executive Dr., Ste. 330
Clearwater, FL 33762
Tax id: 30-0030026 

The case was filed by the debtor's attorney:
Buddy D. Ford
115 N. MacDill Avenue
Tampa, FL 33609
813-877-4669

The case was assigned case number 8:07-bk-05713-CPM to Judge Catherine Peek McEwen. 

by anonamust July 10, 2007 12:00 AM

Compañía de préstamos sospecha de fraude departe de agentes hipotecarios

Mortgage company suspects fraud by Tampa brokers

While workers say they haven't been paid, the Clearwater company's CEO says some loans show signs of fraud.

By MIKE BRASSFIELD, St. Petersburg Times Staff Writer
Published August 5, 2005

---

A group of Tampa workers twice recently have picketed outside the headquarters of a Clearwater mortgage financing company, saying they haven't been paid for about two months of work. But the company says its reputation is being unfairly smeared.

"We have done nothing wrong," said Jerry Cugno, CEO of Premier Mortgage Funding.

The Clearwater company and a Tampa mortgage broker are trading accusations of fraud. State regulators say they will investigate.

Tampa mortgage broker Victor Perry says he signed a contract on May 13 to become a branch of Premier, which has about 600 branches nationwide. Perry says he and a dozen employees have been signing customers up for mortgages in 36 states using the Premier name.

When banks or title companies sent the Tampa employees their commissions from the approved loans, the office sent the checks to Premier headquarters. Perry says that Premier was then supposed to pay his employees their commissions, but that the company hasn't been doing that. This prompted the picketing last week.

However, Cugno says he is happy to pay the workers what they are owed. The problem, he says, is that some of the loans show signs of fraud.

Cugno said he has begun paying commissions for some loans, but cannot pay for loans he suspects are fraudulent. "We have to separate the good loans from the bad," he said.