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Bank Foreclosure Scandal

Pino asked the court to dismiss the case, arguing that the documents filed by the bank and its attorneys had been fraudulently backdated. The case stems from the robo-signing scandal, in which banks.

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It is an epic failure of law and a triumph for bank attorneys. It will accomplish little of value, as I’ll explain. First, let’s recall what the “robosigning” foreclosure scandal was all about..

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The banks defrauded investors about the condition of the loans, which led to billions in losses while millions of Americans lost their homes to foreclosure. Three quarters of the loans in question came from Countrywide Financial, which Bank of America acquired in 2009, along with Merrill Lynch.

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All of these companies being involved with the recent scandal. "Robo" signing has taken place in hundreds of thousands of foreclosure property deals, where the bank, instead of in some cases going to court to legally acquire the foreclosed or REO property, have "robo" signed numerous documents.

While foreclosures can have devastating. Bank of America Foreclosure Scandal: Customer Power, Not Regulation, Will Solve Corporate Corruption.

PNC, Bank of America: Winners & Losers The latest home loan foreclosure scandal as well as disappointing weekly jobs reports contributed to the mixed performance of bank. The admission comes almost two years after a September 2016 sales scandal over unauthorized customer accounts, which stained the reputation of the San Francisco-based bank.

The bank allegedly used these tactics to shepherd homeowners into foreclosure, as well as in-house loan modifications. Both yielded the bank more profits than the government-sponsored Home Affordable Modification Program, according to documents recently filed as part of a lawsuit in Massachusetts federal court.

A lawsuit against JP Morgan-Chase — the nation’s largest bank — asserts that the institution paid off the $4,200,000,000 in mortgage forgiveness that it agreed to as a settlement for widescale.

I contacted a Bank of America spokesman. and of course was just before the "robo-signing" scandal was uncovered. Delays in processing have artificially lowered the foreclosure numbers over the past.

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Bank of New York Mellon v. Ellis, PA Super April 23, 2012 (summary judgment in foreclosure reversed re no showing of compliance with FHA servicing requirements) Beneficial Consumer Discount Co. v. Vukman, 2012 PA Super 18 (court set aside mortgage foreclosure sheriff sale based on defect in Act 91 pre-foreclosure notice)

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