Latest Foreclosure Fraud News 11/22/11

Stop Foreclosure Fraud presents the following...

 

NY, Delaware AGs Allowed To Intervene In $8.5B Bank of America Settlement - 2011-11-21 13:18:36-05

“This action concerns far more than the financial interests of a few sophisticated investors,” Pauley wrote. “And the intervention of the State AGs in this action will protect the interests of absent investors.”  WSJ- The federal judge presiding over the landmark $8.5 billion settlement between Bank of America Corp. (BAC) and major investors in mortgage-backed [...]

Steven J. Baum P.C. law firm to close - 2011-11-21 13:23:22-05

“We will fulfill all of our obligations under WARN and during this process we will also fulfill our remaining work on behalf of our clients,” Baum said in a prepared release. “Disrupting the livelihoods of so many dedicated and hardworking people is extremely painful, but the loss of so much business left us no choice [...]
*****This is the firm that had the Halloween Party making fun of all the people they foreclosed on Illegally!  They were happy they made them homeless!  Karma Works*****

Baum Firm Could Possibly Owe “Millions of Dollars” From Foreclosured Properties - 2011-11-21 17:50:24-05

NYPOST- What’s in this law firm’s wallet? New York state’s beleaguered, largest foreclosure law firm — which today announced plans to shut down in the face of a firestorm of legal action — has allegedly failed to turn over about $130,000 owed to three people whose co-ops were foreclosed on, and could be sitting on [...]

BofA Clash With Fannie Mae Escalates Over Loan Buyback Stance - 2011-11-21 22:13:52-05

Bloomberg- Bank of America Corp. (BAC) told Fannie Mae it refuses to cooperate with the U.S. mortgage firm’s new stance on loan buybacks, setting the lender up for a potential surge in claims and penalties. The bank is disputing Fannie Mae’s demand that lenders repurchase mortgages or cover any losses themselves if an insurer drops [...]