How to finance your strip club visit.....NOT.

Cool, let's all hit Bank of America. They have several branches in most metropolitan areas.

haha fyi there are no Bank of America branches in Ohio.

haha fyi there are no Bank of America branches in Ohio.
sam
Does that mean that they are Bank of The Other 49 States?

I don't know dustyshoes but I was surprised they don't have bank branches in Ohio because it is one of the most populated states. They still have a few ATMs scattered around the state but no branches. Oh well, if I ever need to go to Bank of America branch, I will gladly take the trip up to Southgate/Taylor and visit H8S while I am up there

Vince, had you credit-overdosed by way of your home to support strip clubbing, and then not made a payment in expectation of foreclosure, you could still be living "rent free". In fact, since it recently came to light affidavits were being falsified and foreclosures have been suspended, you'd get even more money for clubbing! White collar crime evidently pays... alas the 'burly bandit' was too much of a simpleton.


Friday, October 01, 2010
Foreclosure Mess: More on BofA Foreclosure Freeze, Wells Fargo satisfied with Procedures
by CalculatedRisk on 10/01/2010 11:59:00 PM
From David Streitfeld at the NY Times: Bank of America to Freeze Foreclosure Cases


Bank of America, the country’s largest mortgage lender by assets, said on Friday that it was reviewing documents in all foreclosure cases now in court to evaluate if there were errors.

It is the third major lender in the last two weeks to freeze foreclosures in the 23 states where the process is controlled by courts.
...
Bank of America, in an e-mailed statement, said it would “amend all affidavits in foreclosure cases that have not yet gone to judgment.”
And from Jacob Gaffney at Housing Wire: Wells Fargo standing by accuracy of foreclosure affidavits

The second largest servicer in the United States, Wells Fargo is not planning to review foreclosure affidavits in light of the robo-signer allegations at many of its competitors.

In an email to HousingWire, Wells Fargo spokesman Jason Menke said, "Wells Fargo policies, procedures and practices satisfy us that the affidavits we sign are accurate. We audit, monitor and review our affidavits under controlled standards on a daily basis. We will stand by our affidavits and, if we find an error, we will take the appropriate corrective action."
I've corresponded with two servicers and they both believe their procedures are adequate (no "robo-signers"). However for GMAC - and apparently for JPMorgan and BofA - there is no excuse.

Posted by CalculatedRisk on 10/01/2010 11:59:00 PM


Saturday, October 02, 2010
Report: Title Insurance company stops insuring Chase Foreclosures
by CalculatedRisk on 10/02/2010 05:04:00 PM
From David Streitfeld at the NY Times: Company Stops Insuring Titles in Chase Foreclosures


The company, Old Republic National Title Insurance, told its agents Friday that it would not write policies on foreclosed Chase properties until “the objectionable issues have been resolved,” according to a memorandum sent out by the firm’s underwriting department.
For those who haven't seen it, here is an excerpt from an affidavit signed by Jeffrey Stephen of GMAC:

Click on image for larger image in new window.

I've highlighted a couple of sentences in yellow. Source: Stopa Law Blog

According to the affidavit the affiant claims to have "examined" the details of the transactions in the complaint, and that he has "personal knowledge of the facts contained in the affidavit". In a disposition - according to media reports - the affiant admitted to just signing the documents without verifying the details. If so, the affidavit is not correct.

The affidavits are being withdrawn.

Obviously the title insurance companies are concerned about what will happen to homes that have already been through foreclosure - with false affidavits filed during the process - and that have already been sold to another party. I'll have more on this later ...

Posted by CalculatedRisk on 10/02/2010 05:04:00 PM


Florida’s Ongoing Foreclosures Nightmare
By Barry Ritholtz - September 29th, 2010, 2:49PM Attached is a court order quashing a foreclosure service process service (PDF here; embed here) because of a counterfeit court summons.

Apparently what’s happening is that private process servicer companies may not be serving people with summons, and are simply counterfeiting the documents so they can keep the fees without doing the work. That means that you could theoretically be foreclosed on without ever knowing there was even a foreclosure case against you.

This judge got wise to it.

Below are two more stories about the problem. The first is from the Florida Bar News, and the second is from prominent financial blogger Mike Konczal on the rampant violations of property rights.

Florida Bar News: Faulty filings hamper clearing foreclosures

Key quote: “If we had everyone defending their foreclosure, we’d never get through this.”

Florida’s Foreclosures Nightmare

>

Simply astonishing . . .

Previously:
Man without Mortgage Loses Home in Foreclosure (September 23rd, 2010)

Stopping Counter-Productive Mortgage Mods and Foreclosure Abatements (January 5th, 2010)

Mortgage Electronic Registration Systems Loses Legal Shield (September 23rd, 2009)

Wonder if LE will confiscate the money from the strippers as evidence? LMAO