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25 de marzo de 2011

Acuerdo con abogado Marshall C. Watson por ejecuciones hipotecarias indebidas

Attorney General Pam Bondi News Release

March 25, 2011
Media Contact: Jennifer Krell Davis
Phone: (850) 245-0150


TALLAHASSEE (FL) – La procuradora general de Florida, Pam Bondi, anunció hoy un arreglo histórico en una demanda contra el abogado Marshall C. Watson y su bufete, una de las mayores firmas de Florida dedicada a las ejecuciones hipotecarias, por supuestas acciones indebidas en el procesamiento de causas por ejecuciones hipotecarias en toda Florida. Este acuerdo, que exige el pago de $2 millones y la imposición de determinados requisitos para ejercer la profesión, es el primero que surge de numerosas investigaciones de bufetes dedicados a ejecuciones hipotecarias en Florida.


1 de febrero de 2011

Federal Trade Commission
Facts for Consumers


High-Rate, High-Fee Loans (HOEPA/Section 32 Mortgages)

If you’re refinancing your mortgage or applying for a home equity installment loan, you should know about the Home Ownership and Equity Protection Act of 1994 (HOEPA). The law addresses certain deceptive and unfair practices in home equity lending. It amends the Truth in Lending Act (TILA) and establishes requirements for certain loans with high rates and/or high fees. The rules for these loans are contained in Section 32 of Regulation Z, which implements the TILA, so the loans also are called “Section 32 Mortgages.” Here’s what loans are covered, the law’s disclosure requirements, prohibited features, and actions you can take against a lender who is violating the law.

What Loans Are Covered?


18 de enero de 2011

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


JPMorgan’s EMC Mortgage Sued Over Home Loan Documents


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.

14 de diciembre de 2010

Families Exchange Homes to Stop Foreclosure


SAN JOSE, Calif.Dec. 14, 2010 /PRNewswire/ -- Home Lease Exchange, LLC, through ForceYourLenderToModify.com, is launching a unique free service today that will aid hundreds of thousands of families, who are in jeopardy of losing their homes, by forcing lenders to decide between becoming landlords or modifying mortgages.

9 de diciembre de 2010


New Jersey Court Decision May Be Unique, but Still Bad for BofA and RMBS



Written by
David Fanger
Senior Vice President
David.Fanger@moodys.com
and

Yehudah Forster
Vice President - Senior Analyst
Yehudah.Forster@moodys.com
For:
MOODY ’S  RESI   LANDSCAPE, Dec. 9, 2010 Issue





On 16 November, a bankruptcy court in New Jersey dismissed Bank of America’s (BofA, Aa3 negative, C-/Baa2 stable) claim for standing to enforce a mortgage originated and securitized by Countrywide in 2006. The judge concluded Countrywide had failed to properly endorse and transfer possession of the mortgage note to the securitization’s trustee, leaving it unenforceable under New Jersey law. Last week BofA was reported in the press as saying that the facts upon which the judge based her conclusion may not have been correct.
We believe the case will lead to increased litigation, higher servicing costs, and more foreclosure delays. This will pressure BofA’s earnings. Increased foreclosure timelines and costs associated with potentially defective loans will also increase losses for Countrywide-sponsored RMBS. This is negative for both BofA and Countrywide-sponsored RMBS.

17 de noviembre de 2010

La ACLU envia cartas reclamando acceso abierto a los casos de ejecuciones hipotecarias

ACLU: Letters Regarding Open Access To Florida State Foreclosure Court Proceedings

15 de noviembre de 2010

La ACLU pide a los jueces de la Florida acceso abierto a los casos de ejecuciones hipotecarias

ACLU Calls On Florida Judges To Ensure State Foreclosure Court Proceedings Are Open To Public

2 de noviembre de 2010

Miles de demandas de ejecuciones hipotecarias resueltas en 3 meses

65,830 foreclosure cases in Florida cleared in three months

11/02/2010 © Palm Beach Post
By Kimberly Miller

Florida's courts cleared 65,830 foreclosure cases in a three-month period beginning July 1, with 71 percent being decided in quickie hearings before the judge sometimes called "rocket dockets."
According to a report released today by the Office of State Courts Administration, only 23 foreclosure cases went to trial statewide during the same time period.

1 de noviembre de 2010

Oficial del gobierno cuestiona derecho a ejecuciones hipotecarias

Lawmaker Questions Power to Foreclose

By ROBBIE WHELAN
Wall Street Journal
Nov. 1, 2010

A Virginia lawmaker asked the state's attorney general to launch an investigation of Mortgage Electronic Registration Systems, the middleman firm in millions of court filings that helps keep the mortgage-securitization machine moving.

Robert G. Marshall, a Republican member of the Virginia House of Delegates, requested that Virginia Attorney General Ken Cuccinelli determine whether the Reston, Va., company violates state law because it doesn't pay a fee every time a loan changes hands.


30 de octubre de 2010

Juez desestima cientos de demandas de ejecuciones hipotecarias en cuestión de horas

Judge: 357 idle foreclosure suits gone in 2 1/2 hours

10/30/2010 © Bradenton Herald

MANATEE — The foreclosure case was filed in March 2007. Within a month, all of the parties were served with copies of the suit.
Then, nothing.
No reply from the homeowner. No filings nor hearings set by the bank’s attorney.
The court case sat idle for the next 3 1/2 years, seemingly forgotten among the thousands of foreclosures clogging the legal system.
That was until Thursday, when Manatee County Circuit Court Judge Paul E. Logan dismissed it for inactivity.

28 de octubre de 2010

Propietarios en el condado Lee presentan demanda contra suba de costos de las ejecuciones hipotecarias

Lee suit to fight foreclosure fees

10/28/2010 © Ft. Myers News-Press

Three Lee County property owners who say they are being priced out of the court system will file a lawsuit today against top Florida officials, arguing a 2009 law that raised the cost of foreclosure lawsuit filings is unconstitutional.
The lawsuit will be filed in federal court in Fort Myers on behalf of Kevin Camm, Enneis Haney and Yuyuan Lucy Lu, all of whom are involved in foreclosure lawsuits in Lee County.
The three are attempting to file a class-action lawsuit to stop enforcement of the law.
The defendants are Gov. Charlie Crist, Attorney General Bill McCollum, Chief Financial Officer Alex Sink, Agriculture Commissioner Charles Bronson, the Florida Cabinet and the Florida Department of Revenue.

Abogado de "rescate" de ejecuciones hipotecarias acusado de falsificar documentos

Foreclosure lawyer accused of forgery

10/28/2010 © Miami Herald

A Coral Springs lawyer who worked for a troubled foreclosure rescue company is facing a criminal probe for allegedly forging court documents.

BY DAVID OVALLE

State authorities are investigating allegations that a Coral Springs lawyer forged the signatures of Broward County judges while working with a disgraced foreclosure assistance company, court documents show.
The lawyer, Frank J. Ingrassia, worked with Outreach Housing, which is accused of siphoning more than $2 million from desperate homeowners, according to a search warrant filed in Miami-Dade court this month.

27 de octubre de 2010

Dúo de WPB crea firma de datos sobre ejecuciones hipotecarias

West Palm Beach duo builds foreclosure data-filtering firm

10/27/2010 © The Palm Beach Post

WEST PALM BEACH — They say they’re just two guys with laptops and a water cooler.
But the electronic system of collecting and organizing judicial records that Jay Hollenkamp, 28, and Michael Olenick, 44, have created streams data gold to court-hungry customers.
Their West Palm Beach-based company, Legalprise Inc., snatches information from state foreclosure court records and filters it into searchable spreadsheets. For example, they can tally how many times a law firm has requested a summary judgment in a foreclosure case, or how often attorneys file paperwork saying a home’s note is lost.

26 de octubre de 2010

Fannie Mae pide a firma de abogados detener casos de ejecuciones hipotecarias pendientes

Fannie Mae asks Florida law firm to hold cases

10/26/2010 © Florida Today

ORLANDO - Fannie Mae has asked a Florida law firm under investigation by state
officials for fabricating foreclosure documents to put on hold all the cases involving the
government-controlled mortgage buyer.

Fannie Mae today also asked the Law Offices of David Stern to stop setting up
hearings for Fannie Mae cases. Spokeswoman Amy Bonitatibus said Fannie Mae was working
closely with their regulator on this matter. Last week, the Florida Attorney General's Office released the deposition of a former assistant at the law firm who testified that the office manager for the foreclosure department would sign 1,000 files a day without reviewing them. The office manager also would allow
paralegals to sign her name for her when she got tired, the former assistant said.

23 de octubre de 2010

Estiman que mercado inmobiliario sufre por congelamiento de ejecuciones hipotecarias

Freeze souring house deals

10/23/2010 © Daytona Beach News-Journal

DAYTONA BEACH -- So far, major banks freezing parts of the foreclosure process have caused some lost or delayed house sales in the Volusia-Flagler market, real-estate officials said this week.
"It's a strong knee-jerk reaction by the lenders, and it's too strong," said Aswin Suri, owner of Exit Realty of Daytona. "We had a deal with a bank that's not even among the ones freezing foreclosures, and it was about to close when it was held up because of the freeze."
Still, investigations of mishandled foreclosures are continuing across the country.

El Sur de la Florida en el centro de creciente debacle por ejecuciones hipotecarias

South Florida at center of growing foreclosure legal mess

10/23/2010 © South Florida Sun-Sentinel

Does this sound familiar? South Florida lawyer from humble origins presides over a rapidly expanding business empire. He spends lavishly along the way, with a fleet of expensive sports cars, million-dollar waterfront properties and yachts, including one named "Misunderstood."
He has a trusted female aide, whom former co-workers say got generous perks, including a luxury car, a home and personal bills paid by the firm.
No, I'm not talking about Scott Rothstein, the attention-seeking Ponzi schemer.
I'm describing David J. Stern, a publicity-evading attorney headquartered in Plantation who has gotten rich from America's mortgage meltdown.
Stern, who hasn't been accused of any wrongdoing, doesn't deal in fictitious legal settlements but painfully real foreclosures.
Tons of them.

21 de octubre de 2010

Abogado David J Stern renuncia a la presidencia de su bufete

Foreclosure attorney Stern leaves as chairman of subsidiary firm

10/21/2010 © South Florida Sun-Sentinel

Plantation foreclosure attorney David J. Stern, who is under investigation by state regulators over his law firm's alleged mishandling of tens of thousands of foreclosure documents, has left his position as chairman of the subsidiary company that handles most of his law firm's paperwork, the Securities and Exchange Commission said.
The SEC disclosure came Wednesday as calls increased for The Florida Bar, which is also investigating Stern's operations, to use its state constitutional authority to regulate attorneys' conduct and take steps to discipline law firms that have become what some say are "foreclosure mills."
"The Bar should step up and regulate this. It must insist that attorneys involved in handling foreclosures comply with the rules of the court," said Diane Thompson, an attorney with the National Consumer Law Center who is an expert on mortgages.

Procurador General de la Florida se involucra en la crisis de ejecuciones inmobiliarias

Florida's foray into the foreclosure crisis

10/21/2010 © South Florida Sun-Sentinel editorial

For a short-timer, Florida Attorney General Bill McCollum has a lot on his plate, particularly when it comes to residential and commercial foreclosures. News of unscrupulous lending practices, coupled with the examination of those practices by lenders, resonates in a state that relies so heavily on real estate for growth and jobs. So it was a relief that McCollum last week joined counterparts in the other 49 states in scrutinizing banks, mortgage companies and loan servicers involved in the debilitating foreclosure crisis. He has also asked for a meeting with major lenders that have curtailed foreclosure procedures to assess how big an impact a foreclosure moratorium could have on Florida.
The reality is that the impact could be huge. Half of Florida's housing sales currently involve foreclosed properties, and if that pipeline is shut off for a long period of time, it would prolong hopes for an economic recovery in the Sunshine State. For that reason, McCollum is wise to hold off on any further action, such as encouraging a freeze on foreclosures or initiating lawsuits, at this point.

Opinan que congelamiento de ejecuciones hipotecarias perjudica la ya debilitada economía

Our views: The crisis continues.
Foreclosure moratorium would hurt the still struggling economy

Florida Today editorial
October 21, 2010

During the real estate bubble, lenders wrote mortgages like they were giving away candy on Halloween.
Their irresponsibility nearly sank the economy and now they’re repeating it as the foreclosure crisis continues.
Attorneys general in all 50 states are starting a coordinated probe into inaccurate and fraudulent documents prepared by lenders and their subcontractors in foreclosure suits.
Federal investigators are doing the same.
The problem involves untrained mortgage company and law firm workers who signed hundreds of documents a day without reviewing them, violating laws that require a signed affidavit saying all documents filed were complete and accurate.
As a result, experts say an untold number of people may have been forced from their homes illegally.
Some of the nation’s largest lenders, such as Bank of America and JP Morgan Chase, put a temporary halt on foreclosure sales to address the problem, with the effect rippling along the Space Coast: Brevard County courts, which currently are handling nearly 13,000 foreclosure suits, are reporting a growing number of foreclosure hearings canceled or postponed. The figure reflects just part of the Space Coast’s crisis, where 30,000 foreclosure suits were filed between January 2007 and September 2010.

20 de octubre de 2010

Jueces proponen otra solución antes que un congelamiento de las ejecuciones hipotecarias


No foreclosure moratorium: White House, judges have a better response.


10/20/2010 © Palm Beach Post editorial

From now on, Palm Beach County Chief Judge Peter Blanc says, even when foreclosure
cases are uncontested, banks will have to produce sworn or certified documents to prove that
they have the right to repossess a home. That approach in courts around the country beats a
national foreclosure moratorium.
Since Florida Rules of Civil Procedure require such paperwork, that should have been the case
all along. In light of allegations that attorneys representing lenders and mortgage servicers have been using forged documents, it's more important than ever that judges make them follow the letter of the law. Civil rights organizations and some Democratic lawmakers have called for a nationwide moratorium on foreclosures in response to the alleged fraud. Holding lenders accountable makes more sense.
Judge Blanc admitted to The Post's Kim Miller, however, that in thousands of cases that hasn't happened. "In the past, when affidavits came in on defaults, the judges haven't been requiring the documents because no one was there objecting," Judge Blanc said, noting that 80 percent of the cases are uncontested. "Dealing with the volume we are dealing with, we want to make sure that all our i's are dotted and t's crossed."
Even when the homeowner fails to show up in court, lenders should have to prove their case, because they can collect from defaulting homeowners the balance between what they owe and what the bank gets from selling the home. The records that support lenders' foreclosure claims include details of the loan, borrower fees and payment history that verify how much is owed. In one case, a judge failed to inspect the documents and granted summary judgment to a lender even when the homeowner's attorney objected to the validity.
A summary judgment is a swift ruling made instead of a trial when the facts of the foreclosure are considered irrefutable. The problem has been that, too often, the facts are disputable.
The 50 state attorneys general have opened a joint investigation into whether banks and loan servicers used false documents and signatures to justify hundreds of thousands of foreclosures. The Obama administration's Financial Fraud Enforcement Task Force is investigating whether those that did submit flawed paperwork misled federal housing agencies, which own or insure a majority of home loans.
These investigations, coupled with judges taking a more active role, is a practical response as opposed to the political response of calling for a moratorium. A nationwide foreclosure moratorium only would delay the inevitable for most homeowners, and further delay the housing market recovery.
Jack McCabe, a real estate consultant based in Deerfield Beach, favors a moratorium, but admits that it would have a negative effect on the economy. "Forty to 50 percent of sales in the state have been foreclosure sales," he said. With a moratorium, there would be "a large reduction in the number of foreclosure sales, and in sales in the overall market with these foreclosures not being available." Buyers of non-distressed properties might wait, fearing that they are paying too much.
The housing market will not improve until those distressed homes get back onto the market and get sold. The foreclosures must be scrutinized, but they must continue.

- Rhonda Swan, for The Palm Beach Post Editorial Board

Procuradioría General de Florida amonesta a uno de sus abogados por trabajo en foreclosure mill



AG's office reprimands one of its attorneys for "foreclosure mill" work


10/20/2010 © Tampa Tribune

TAMPA - The Florida Attorney General's Office has reprimanded one its attorneys for notarizing documents for one of the "foreclosure mills" the office is investigating. Erin Cullaro, an assistant attorney general for the office's Economic Crimes Division in Tampa, is a former employee of Tampa-based Florida Default Law Group.
The Attorney General is investigating the firm, along with three other Florida firms, for what "appears to be fabricating and/or presenting false and misleading documents in foreclosure cases."
Cullaro was given permission from the Attorney General's Office in April 2008 for dual employment, allowing her to notarize law firm documents for 15 minutes three days a week.
But, according to the written reprimand, Cullaro failed to renew the application into the new fiscal year, "which would have altered the {Attorney General's Office } to your continued outside employment and accurately reflected the time commitment involved."

19 de octubre de 2010

Juez del condado Palm Beach reclama a bancos mas evidencia en demandas de ejecuciones hipotecarias


Palm Beach County judges want more evidence in uncontested foreclosures

10/19/2010 © Palm Beach Post

Thousands of Palm Beach County homes have been repossessed by lenders that failed to follow a court rule requiring evidence be attached to foreclosure affidavits, something judges often allowed to happen when no one contested the case.
After revelations in recent weeks that sworn affidavits from several major banks and home loan servicers may be flawed, Palm Beach County Chief Judge Peter Blanc said banks will increasingly have to prove their foreclosure claims with sworn or certified supporting paperwork.
The 15th Circuit's judges discussed the evidence regulation, outlined in the Florida Rules of Civil Procedure for summary judgments, on Friday. A summary judgment is a swift ruling held in lieu of a full trial. They are requested by bank attorneys when the facts of the foreclosure are considered irrefutable.
"In the past when affidavits came in on defaults, the judges haven't been requiring the documents because no one was there objecting," said Blanc, who added that about 80 percent of foreclosures in the county are not contested. "Dealing with the volume we are dealing with we want to make sure that all or i's are dotted and t's crossed."

Testigos afirman que firma legal ofrecía incentivos por alterar documentos


Witness: Foreclosure firm owner gave gifts for altering documents

10/19/2010 © Tampa Tribune

TAMPA - Some employees of Florida's largest "foreclosure mill" were given jewelry,
cars and houses from the firm, in exchange for altering and forging key documents used to
obtain foreclosures, according to a statement released today by the Florida Attorney General's
Office.
The office released transcripts of two interviews it conducted for its investigation into
the law offices of David J. Stern. The sworn statements were from Kelly Scott, a former
employee of Stern's and Mary R. Cordova, a former employee of G&Z, a process server used
by Stern's office. The women's testimonies appear to back up that of former Stern's employee
Tammie Lou Kapusta, whose statement was released last week. The three statements paint a
picture of a secret system designed to speed up the foreclosure process. Attorneys and staff
members forged signatures, changed dates, passed around notary stamps, the women say in
interviews with attorney general's staff.

La ACLU investiga records publicos para determinar la constitucionalidad de las ejecuciones hipotecarias en Florida

ACLU Seeks Public Records To Determine Constitutionality Of Foreclosure Proceedings In Florida

18 de octubre de 2010

Complicaciones creadas por un posible Foreclosure Freeze


Foreclosure freeze creates major headache for Collier, Lee real estate industry

10/18/2010 © Naples Daily News

Since Oct. 4, banks have withdrawn more than 270 foreclosure homes from the Fort Myers multiple listing service, or MLS. In the Naples market, there have been about 120 listings pulled from the MLS during the past week.

NAPLES —For years, Mike Donnelly has dreamed of owning his own home. His dream was about to come true, until his closing was abruptly halted last week by the seller, Fannie Mae.
“I was heartbroken,” said Donnelly, 52. “I thought, ‘You’re kidding me.’ It’s the perfect dream house.”
Fannie Mae, the seller, stopped the closing because of concerns over the title. The servicer on the defaulted loan was Countrywide, now part of Bank of America. Earlier this month, Bank of America announced it was putting a chill on foreclosure sales in 50 states because of concerns over faulty documents. Other major lenders, including Ally and JP Morgan Chase, also have suspended some foreclosure sales, as they review their procedures following criticisms that they improperly took homes away from struggling borrowers.