California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud. *** AS OF NOVEMBER 2017, THE CALIFORNIA REAL ESTATE FRAUD REPORT IS 10 YEARS OLD! ***

08
Oct

Bank of America Stops All Foreclosures Due to Questionable Foreclosure Documents

In the ongoing sage of Foreclosure Gate, Bank of America became the first lender to halt foreclosure proceedings against distressed borrowers in all 50 states amid questions about whether it had properly processed foreclosure documents. JP Morgan Chase, Ally Financial, Inc. (GMAC), Wells Fargo and other lenders are under the microscope too, although Wells Fargo denies it failed to follow state foreclosure laws. Despite the self-imposed moratorium, Bank of America claims “Our ongoing assessment shows the basis for our past foreclosure decisions is accurate.”

Despite the denial, Renee Hertzler, a Bank of America employee, has acknowledged in at least one deposition that she routinely signed 7,000 to 8,000 documents per month having to do with foreclosing on residential properties.

Also today, Pittsburgh-based PNC Financial Services Group, Inc. announced it is suspending foreclosure proceedings in the 23 judicial foreclosure states for a month while it conducts an internal review to confirm it has complied with state foreclosure laws.

Read the full article in Yahoo News and MSN.

© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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