We have a new deadline for the 50, er, 43-state foreclosure fraud settlement. It’s not July Fourth or Labor Day or Halloween, but now Christmas. More holidays have been selected for the target settlement date than have been selected for vignette-laden films directed by Gary Marshall. But this time, Tom Miller means it!
|By: David Dayen Friday December 9, 2011 1:20 pm|
|By: David Dayen Wednesday December 7, 2011 8:11 am|
On the day when protesters highlighted the foreclosure crisis, the Attorneys General of California and Nevada opened a joint investigation into mortgage and foreclosure fraud. This west coast tandem of Nevada’s Catherine Cortez Masto and California’s Kamala Harris provides a counterpoint to the work being done on the east coast by New York’s Eric Schneiderman and Delaware’s Beau Biden.
|By: David Dayen Thursday November 17, 2011 8:50 am|
A grand jury in Nevada yesterday indicted two title officers, Gary Trafford and Gerri Sheppard, on 606 counts of robo-signing between 2005 and 2008, a scheme that resulted in the fraudulent filing of tens of thousands of other documents with the Clark County register of deeds. This has the potential to be a groundbreaking case; it’s the first I can think of which actually indicts a robo-signer on criminal charges for fraud. And by going after the title officers, the Attorney General of Nevada, Catherine Cortez Masto, appears to be laying out a strategy to go up the chain and hollow out the entire industry and their illegal document fraud.
|By: David Dayen Sunday October 30, 2011 1:00 pm|
I’ve ignored the past few breathless reports about an imminent settlement by state Attorneys General and the big banks over foreclosure fraud, because we’ve been hearing the same talk about a settlement for over a year now, and because several states have already dropped out of the talks. But that doesn’t mean a bad settlement with the remaining states may not be inked, one that would indemnify the banks from state-level prosecution for a series of crimes at practically all stages of the mortgage process, in exchange for a relative pittance.
|By: Teddy Partridge Sunday October 9, 2011 8:01 pm|
Having the President of the United States in their corner, publicly and resolutely stating that the “stuff” banks did “wasn’t necessarily illegal,” may not give a great deal of aid and comfort to middle-class Americans who saw their real estate wealth evaporate. It may not comfort folks illegally evicted from their homes, or those illegally foreclosed upon.
Obama’s words must comfort the comfortable most of all.
|By: David Dayen Wednesday September 28, 2011 7:00 pm|
Nevada Attorney General Catherine Cortez Masto just reached a settlement with investment bank Morgan Stanley for up to $40 million, over deceptive practices in mortgage lending and securitization.
This may seem like a small number, but Morgan Stanley was not a big player in Nevada, and the case itself involves just a small slice of mortgages.
|By: David Dayen Wednesday August 31, 2011 3:20 pm|
Tom Miller’s feewings are huwt. He doesn’t like how he’s being portrayed by those who have actually taken a look at how he’s been handling the 50-state “investigation” on foreclosure fraud. And he’s having his top deputy defend him to major media.
|By: David Dayen Wednesday August 31, 2011 6:59 am|
Nevada Attorney General Catherine Cortez Masto’s amended complaint in a lawsuit against Bank of America has so many interesting nuances, I think I need a new Internet to catalog them all. But let me start by saying that this complaint is a stick of dynamite to the foreclosure fraud settlement, exposing it as a useless whitewash that won’t deter banks from their criminal practices.
|By: David Dayen Sunday December 19, 2010 6:30 am|
The Attorneys General of Arizona and Nevada have sued Bank of America for violating consumer protection laws in the loan modification process. The civil lawsuits allege that BofA’s servicer is defrauding homeowners who try to modify their mortgages, telling them they would get a permanent modification and then rejecting their applications and evicting them. In addition, according the the lawsuits BofA is violating a settlement from a 2009 lawsuit against Countrywide, now owned by BofA, to modify loans of homeowners who were victims of predatory lending.