MortgageFraud in North Carolina

Ranking Member calls on federal bank regulators to provide copies of agreements to review widespread mortgage abuses
Washington, DC – Today, Ranking Member Elijah E. Cummings wrote to federal banking regulators to request copies of “engagement letters” between 14 mortgage servicing companies and the private consultants they hired to review their widespread foreclosure abuses. The deadline for federal regulators to approve these engagement letters is today.

The engagement letters we...

By Danny Schechter, Author of The Crime Of Our Time

This week the financial crisis finally went prime time in the form of a big budget HBO docudrama called "Too Big To Fail."

It was a well-acted docudrama focused on the BIG Men and some women in the banks and in government who tried to put Humpty Dumpty back together again up on that wall to prevent a total economic collapse when panic dried up credit and financial institutions faced failure.

Based on the work of a New York Times report...

Congress recently passed a 0-billion bill designed to infuse cash into Wall Street and bring back confidence in America’s financial system. Despite the optimism caused by a global stock rally after the Emergency Economic Stabilization Act was signed, it could still take a long time to work through the process and restore the economy given all the headwinds facing the housing market.

From the plunge in home prices, to soaring defaults on mortgages that are dumping more homes on an already gl...

U.S. banks, seeking to avoid $17 billion in court claims over faulty foreclosures, are discussing a settlement framework with state attorneys general that may let firms choose from a menu of options for helping borrowers, two people briefed on the talks said.

Under the proposal, Bank of America Corp. (BAC), Wells Fargo & Co. (WFC), JPMorgan Chase & Co. (JPM), Citigroup Inc. (C) and Ally Financial Inc. would pay penalties and pledge billions of dollars in relief to home buyers, one of the peo...

The FBI has set up Mortgage Fraud Task Forces throughout the country, including in Charlotte, North Carolina. The latest FBI Mortgage Fraud Report lists North Carolina as one of the top states “significantly affected” by mortgage fraud.

“Mortgage Fraud” has become the general term to describe what is actually a wide spectrum of allegedly fraudulent conduct, including false loan applications, false or inflated appraisals, failure to disclo...

Posted on May 27, 2011 by Neil Garfield

EDITOR’S NOTE: I am tired of reading about how economists express surprise at the sluggish economy. The same goes for when they express hope at slightest uptick in any index that is followed, none of which are real representations of economic activity. As the recent New York Times Editorial stated, as housing goes, so goes the economy. Housing is corrupted by the ongoing fraud being perpetrated by Wall Street. We have fraudulent loans compound...

GOP legislator pays jobless worker $8 for yard work, chides her in email

Post on May 27, 2011 by Sarah Ovaska 30 Comments »

Rep. Stephen LaRoque, a Kinston Republican, was the subject of this Huffington Post story earlier this afternoon, where it reported he paid one of the 46,000 jobless workers without unemployment benefits $8-an-hour to do yard work at his house.

The Huffington Post story gave mention to a testy email exchange Treadway and LaRoque had on Thursday. Scroll down this...

The Take Back the Land Movement is rooted in the following principles:

• Housing is a human right;
• Local community control over land and housing;
• Leadership by impacted communities, particularly low income women of color;
• Direct action oriented campaigns.

The overarching objective of the Take Back the Land Movement correlate significantly with our principles:

• Fundamentally transform land relationships;
• Elevate housing to the level of a human right;
• Community control ...