Bank Foreclosure Scandal

 · Massive new fraud coverup: How banks are pillaging homes — while the government watches When financial crimes go unpunished, the root problem of fraud never gets fixed –.

Following the robo-signing scandal, several large banks temporarily froze all pending foreclosures. For some homeowners, the robo-signing mess created. The number of bank-owned homes has hit its lowest level in at least the last 20 years, according to Corelogic.

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Murphy Panuelo was a Micronesian businessman who had been in discussions with Peterson about leasing office building space for Peterson’s community and development banking project (East America Bank),

The engagement letter between Bank of America and Promontory includes Attachment C, "Promontory’s Conflicts of Interest Policy," a 3-page document. When the Federal regulators that are overseeing the foreclosure reviews released the document to the public, the 3 pages were completely blacked out.

Following the robo-signing scandal, several large banks temporarily froze all pending foreclosures. For some homeowners, the robo-signing mess created opportunities to challenge their foreclosures in court or negotiate with banks to avoid foreclosure. Now, robo-signing happens much less often, but your case might be the exception.

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Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according.

The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate, refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders. The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks, including Bank of America, JP Morgan, Wells Fargo, and Citigroup.

The bank initially looked at homes that were in the foreclosure process. wells fargo paid in 2016 over the unauthorized accounts scandal. realtytrac released its U.S. Foreclosure Market Report for November, which shows foreclosure filings – default notices, scheduled auctions and bank repossessions. of the so-called robo-signing.

Bank of America expands short sale incentive to $30,000 Bank of America Short Sale Incentive Programs. By selling your home in a Bank of America hafa short sale, as opposed to the traditional short sale process, you will benefit in several ways: $3,000 to $30,000 for relocation assistance foreclosure process may be temporarily halted You will receive a full deficiency waiver on.

As David Dayen points out in the Guardian, it also gives the bank credit for activities that might help rebuild the housing market but aren’t directly related to the victims of the foreclosure.