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$1.2 Trillion in Secret Additional Bailout for Banks with No Collateral and No Commitments (via Livinglies's Weblog)
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August 27, 2011
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Comercial modification Chapter 11 Workouts
- Stern v. Marshall, 131 S.Ct. 2594 (2011)U.S. Supreme Court Dramatically Curtails Bankruptcy Courts’ Powers Decision casts doubt on certain judgments entered against debtors in bankruptcy court Financial Restructuring and Bankruptcy Department Alert September 2011 The United States Supreme Court recently narrowed the scope of the authority … Continue reading →timothymccandless
- UntitledOriginally posted on Serving California only 949-388-7779 & 925-957-9797: http://www.facebook.com/pages/California-Justice-Foundation/170293853045518?ref=hl# CLICK ITtimothymccandless
- How does a Lis Pendens affect California Real Property?I see questions all the time about Lis Pendens in online Real Estate discussion forums all the time. Before diving into the information below please understand the following. This information pertains to California Real Estate Law. This information was obtained … Continue reading →timothymccandless
- California Chapter 11 Bankruptcy LawCalifornia Chapter 11 Bankruptcy Law California businesses have a couple of options to deal with dire financial conditions, and filing for a Chapter 11 bankruptcy can be an attractive option. However, it can be a bit complex, and to be … Continue reading →timothymccandless
- How Creditors Get Paid Under a Chapter 11 PlanObviously, the debtor doesn’t have sufficient ready funds to pay all creditors at the time of filing. Instead, an approved plan relies on future business earnings and profits to address creditor debts. The debt claims are prioritized with taxes owed … Continue reading →timothymccandless
- Don’t Declare Bankruptcy Before You Need ToToday, many people are deciding to declare bankruptcy. With so many people being laid off, a lot of people are deciding to file for bankruptcy but you need to realize that it is not for everyone. There are other ways … Continue reading →timothymccandless
- Delaware Bankruptcy Litigation: Trustee in Opus South Bankruptcy Files Preference Actions timothymccandless
- Delaware Bankruptcy Litigation: Trustee in Opus South Bankruptcy Files Preference Actions timothymccandless
- Calculating the Preference Period:Effective Date of the Trasfer and the Inapplicability of Federal Rule of Bankruptcy Procedure 9006(a) to the Trustee's Avoidance Powers By Richard Ruszat A threshold issue to preference litigation is the determination of whether a transfer occurred within the applicable … Continue reading →timothymccandless
- Workout Experts for Financially Distressed Companies The The McCandless Law FirmWorkout Experts for Financially Distressed Companies The The McCandless Law Firm is among Northern California’s most experienced workout specialists for creditors, boards, investors and executive management of financially distressed companies. Workouts include managed, out-of-court business terminations as well as an … Continue reading →timothymccandless
FORECLOSURE FRAUD | by DinSFLA
- TFH 7/23 | Foreclosure Workshop #37: Rigby v. Bank of New York Mellon — The “Standing-at-Inception” Rule Versus the Question Whether “the Mortgage Follows the Note” or “the Note Follows the Mortgage” July 23, 2017COMING TO YOU LIVE DIRECTLY FROM THE DUBIN LAW OFFICES AT HARBOR COURT, DOWNTOWN HONOLULU, HAWAII LISTEN TO KHVH-AM (830 ON THE AM RADIO DIAL) ALSO AVAILABLE ON KHVH-AM ON THE iHEART APP ON THE INTERNET . . Sunday – July 23 TFH 7/23 | Foreclosure Workshop #37: Rigby v. Bank of New York Mellon […]
- Greenberg Traurig Faces Bankruptcy Client’s Wrath in Malpractice Fight July 21, 2017DBR- After a former energy client sued Greenberg Traurig for malpractice, alleging it could have avoided millions of dollars in legal fees if not for the firm’s negligence, the law firm has shot back, calling the claims purely speculative. The lawsuit, brought by electrical company NextEra Energy Inc. against the law firm in May, is the latest malpractice [… […]
- Record SEC award expected for JPMorgan whistleblowers July 21, 2017Financial Planning- The SEC is expected to present the largest whistleblower award in its history – possibly $70.6 million or more to be shared by two whistleblowers in a case involving a former adviser at JPMorgan Chase – according to an SEC letter obtained by Financial Planning. The forthcoming award is expected to be split between […]
- Customers shut out of accounts for hours during Bank of America system outage July 20, 2017Miami Herald- Bank of America customers were shut out from their accounts for several hours Wednesday in a system outage. Coral Springs resident Eric Sleeper said he got what looked like a phishing email from the bank Wednesday and immediately started calling customer service to see if something was wrong. A message on his online […]
- Winter is Coming: Supreme Court Adopts New Bankruptcy Rules to Take Effect December 1, 2017 July 20, 2017Lexology- Finally, after several years of debate, major changes have been approved that will have a profound impact on consumer bankruptcy cases. On April 27, 2017, the Supreme Court of the United States, through Chief Justice John Roberts, submitted to Congress amendments to the Federal Rules of Bankruptcy Procedure which set forth extensive changes dealing […]
- Federal judge rules Quicken Loans wrongly influenced home appraisals July 19, 2017HW- A judge slapped Quicken Loans with nearly an $11 million penalty after it found the nonbank guilty of allegedly and wrongly influencing home appraisal values during the time leading up to the financial crisis. But Quicken Loans is quick to fight the ruling, stating it, along with its affiliated company Title Source, will appeal the rulings issued […] […]
- As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away 670 July 19, 2017NYT- Tens of thousands of people who took out private loans to pay for college but have not been able to keep up payments may get their debts wiped away because critical paperwork is missing. The troubled loans, which total at least $5 billion, are at the center of a protracted legal dispute between the […]
- GULIEX v. PennyMAC HOLDINGS LLC Cal: Court of Appeal, 5th Appellate Dist., 2017 || The judgment is ** reversed **. The trial court is directed to vacate its order sustaining the demurrer without leave to amend and to enter a new order overruling the demurrer. . . . This is worth reading *NOW** July 18, 20173. Links Three and Four Are Missing from the Chain Based on Herrera and Yvanova, we conclude the recorded documents do not establish that JPMorgan Chase Bank, National Association was the owner of the beneficial interest in the deed of trust. It follows that the recorded documents do not establish that PennyMac became the owner of any beneficial interest […] […]
- Wells Fargo stuck mortgage borrowers with extra fees, whistle-blower’s lawsuit says July 18, 2017LA TIMES- As Wells Fargo & Co. continues to be hit with fallout from its sham-accounts scandal, the bank is facing allegations that it put the screws to customers in yet another way: by slapping them with fees for delays in processing mortgage applications. A former Wells Fargo mortgage banker who worked in Beverly Hills alleged in […]
- TFH 7/16 | Foreclosure Workshop #36: United States v. Sierra Pacific Industries, Inc. — Unraveling the Mysteries of Rule 60 for Homeowners July 17, 2017COMING TO YOU LIVE DIRECTLY FROM THE DUBIN LAW OFFICES AT HARBOR COURT, DOWNTOWN HONOLULU, HAWAII LISTEN TO KHVH-AM (830 ON THE AM RADIO DIAL) ALSO AVAILABLE ON KHVH-AM ON THE iHEART APP ON THE INTERNET . . Sunday – July 16 Foreclosure Workshop #36: United States v. Sierra Pacific Industries, Inc. — Unraveling the […]
- New Lloyd, Same Goldman July 14, 2017Bloomberg- With those 102 characters, Lloyd Blankfein introduced himself to Twitter, taking a swipe at President Donald Trump for pulling out of the Paris climate accord. The Goldman Sachs Group Inc. chief executive officer’s June 1 debut on the social media platform was unusual. No other leader of a big U.S. bank has an official Twitter account. […] […]
- Pimco sues Wells Fargo, claims MBS trustee ‘looted’ trusts to pay legal fees July 13, 2017REUTERS- Several Pimco investment funds are accusing the mortgage-backed securities trustee Wells Fargo of misusing noteholder money to pay its own legal expenses. In a newly filed complaint in Manhattan State Supreme Court, the Pimco funds are asking for a declaratory judgment that Wells Fargo is not entitled to use MBS trust money to fund its defense […] […]
- Homeowner, Wells Fargo settle lawsuit over alleged theft during foreclosure process July 13, 2017The Morning Call- An Easton man and the bank that was foreclosing on his home reached a settlement in a dispute that arose when the man alleged his belongings were stolen by workers sent to secure the property. John Barber sued Wells Fargo, alleging “his home had been broken into, the locks changed, the premises ransacked, […]
- FHFA Announces $5.5 Billion Settlement with Royal Bank of Scotland (RBS) July 12, 2017FOR IMMEDIATE RELEASE 7/12/2017 Washington, D.C. – The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced it has reached a settlement with Royal Bank of Scotland Group plc, related companies and specifically named individuals (collectively RBS) for $5.5 billion. The settlement resolves all claims in the lawsu […]
- How Obama’s Failure To Prosecute Wall Street Set The Stage For Trump’s Win July 12, 2017HUFFPO- In his eight years as president, Barack Obama oversaw a civil rights renaissance, laid the groundwork for combating climate change, and shepherded the nation through its worst financial crisis since the Great Depression. But his failure to prosecute Wall Street executives for causing the collapse of the housing market ushered in an era of populist ra […]
- CFPB Issues Rule to Ban Companies From Using Arbitration Clauses to Deny Groups of People Their Day in Court July 11, 2017Financial Companies Can No Longer Block Consumers From Joining Together to Sue Over Wrongdoing The Consumer Financial Protection Bureau (CFPB) today announced a new rule to ban companies from using mandatory arbitration clauses to deny groups of people their day in court. Many consumer financial products like credit cards and bank accounts have arbitration c […]
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Niel Garfield and the national story
- Mich. foreclosure law is ‘gov’t-sanctioned thieving’ July 22, 2017Michael Haverluck The Supreme Court of the United States (SCOTUS) is being petitioned by several small property owners in Michigan who argue that they were victimized by the state’s abusive foreclosure law that allows the local government to steal their property and make hundreds of thousands of dollars in profit off of them. Represented by […]Neil Garfield
- Florida’s First District Court of Appeal Should Abandon the Standing at Inception Rule in Mortgage Foreclosure Cases July 22, 2017Introduction Florida’s First District Court of Appeal, in Rigby v. Bank of New York Mellon, Case No. 1D16-0665, appears to be considering receding from the “standing at inception” doctrine in the mortgage foreclosure context. That rule requires foreclosing lenders to prove not only that they have the right to enforce the note and mortgage […]Neil Garfield
- David Dayen: More Trump Populism: Hiring a Bank Lawyer to Attack CFPB Bank Rules July 21, 2017President Trump and Republicans in Congress have broadcast their every intention to gut the Consumer Financial Protection Bureau. The president’s budget attempted to defund it and leading Republicans have called for its director to be fired and replaced with a more Wall Street-compliant regulator. But much like the bulk of Trump’s agenda, that assault remain […]Neil Garfield
- Ocwen to Shell Out $56 Million in Class-Action Settlement July 21, 2017Ocwen to Shell Out $56 Million in Class-Action Settlement July 20th, 2017 | by Alex Spanko Ocwen Financial Corporation (NYSE: OCN) on Thursday announced that has reached a $56 million settlement over a federal class-action lawsuit, the latest in a line of issues for the troubled servicer. The lawsuit stemmed from alleged problems with restatements […]Neil Garfield
- David Dayen: Wells Fargo Is Trying to Bury Another Massive Scandal July 19, 2017ByDavid Dayen; illustrated byLia Kantrowitz Jul 17 2017, 4:27pm The bank became notorious last year for creating fake accounts on behalf of customers. Now it’s trying to kill a class-action lawsuit over shady debit card fees. Wells Fargo became a poster child for corporations that abuse their own customers last year when it got fined […]Neil Garfield
- David Dayen at Vice: Billions in Student Debt could Disappear because of Lost Paperwork July 19, 2017Billions in Student Debt Could Disappear Because of Lost Paperwork The latest example of America’s legal system being a total shitshow might actually help you out—if it doesn’t screw you over first. In 2006, Pablo Ramirez took out a private loan to attend Westwood College, a now-shuttered for-profit diploma mill in Fort Worth, Texas. Eight […]Neil Garfield
- Quicken Loans Banged for $11 Million Appraisal Fraud July 19, 2017It comes as no surprise that a tiny subsidiary of Quicken was getting kickbacks on appraisal fees and that the appraisals were “MAI” (Made As Instructed.” This is one of the lynchpins of the illegal scheme. The higher appraisals got everybody excited about a housing boom that was a complete illusion. As soon as lending […]Neil Garfield
- NY Times: Student Debt Getting Wiped Out by Fraudulent Claims of Securitization July 18, 2017So here is an example of why you need to send a DVL (Debt Validation Letter). It turns out that mainstream media and the court system are much more willing to get into bank fraud as to students than they were when it came to homeowners. The facts are the same. “Somewhere along the line” […]Neil Garfield
- Another PennyMac Crash! CA Case for Homeowner July 17, 2017American jurisprudence is clearly still struggling with the fact that in most cases the forecloser either does not exist or does not have any interest in the loans they seek to enforce. In virtually all instances PennyMac is acting in the role of a sham conduit while allowing its name to be used as the […]Neil Garfield
- A shocking number of Americans live in housing they can’t afford, according to Harvard study July 16, 2017http://www.cnbc.com/2017/07/13/harvard-study-heres-how-many-americans-cant-afford-housing.html Ester Bloom Thursday, 13 Jul 2017 | 9:22 AM ET Harvard study: Almost 40 million Americans can’t afford to pay for housing According to new research by Harvard University, almost 40 million Americans “live in housing they cannot afford.” Homeownership has gone down […]Neil Garfield
- Treasury Seeks Wall Street Input on Overhauling Watchdog July 16, 2017By Jesse Hamilton July 14, 2017 https://www.bloomberg.com/news/articles/2017-07-14/treasury-is-said-to-seek-wall-street-input-on-overhauling-fsoc Lobbyists in private meeting call for weakening super-watchdog Trump has ordered Treasury report on rethinking risk panel A pedestrian walks past the Wall Street subway station near New York Stock Exchange. Photogr […]Neil Garfield
- Wells Fargo as MBS trustee ‘looted’ trusts to pay legal fees July 14, 2017http://www.reuters.com/article/us-otc-pimco-idUSKBN19X2NV Alison Frankel (Reuters) – Several Pimco investment funds are accusing the mortgage-backed securities trustee Wells Fargo of misusing noteholder money to pay its own legal expenses. In a newly filed complaint in Manhattan State Supreme Court, the Pimco funds are asking for a declaratory judgment that […]Neil Garfield
- JPM Chase CEO Jamie Dimon shares his concern for the “average American”. July 14, 2017JPM Chase CEO Jamie Morgan said today that, “we would have to get our act together, do what we’re supposed to do to the average American” Do TO the average American?? What, like foreclose on homes JPM Chase can’t demonstrate it owns except through the production of fabricated documents? During today’s earnings call discussing JPM’s […]Neil Garfield
- REMIC Trusts Do NOT Exist July 14, 2017THE ESSENCE OF A TRUST IS NOT THE TRUST DOCUMENT. THE ESSENCE IS THE EXISTENCE OF TRUST PROPERTY. Like legal standing, there must be some THING that is involved or the court has no jurisdiction. If you look up any source on the definition or elements of a legal trust, there is no “Trust” if […]Neil Garfield
- The Neil Garfield Show: Why the Trusts are Busts July 13, 2017Thursdays LIVE! Click in to the The Neil Garfield Show Or call in at (347) 850-1260, 6pm Eastern Thursdays Please see: FHFA RBS Settlement The settlements with the banks are a scam. Yesterday RBS settled with US authorities for skullduggery in the name of “so-called residential mortgage-backed securities.” They took in over $30 billion and […]Neil Garfield
- FHFA’s MBS litigation offers 25 billion reasons why government should hire private law firms July 13, 2017Alison Frankel (Reuters) – On a fateful day in 2010, Philippe Selendy and Manisha Sheth of Quinn Emanuel Urquhart & Sullivan took the train to Washington, D.C., to pitch officials at the Federal Housing Finance Agency on a radical proposal: FHFA should hire Quinn Emanuel to sue the banks that sold toxic mortgage-backed securities to […]Neil Garfield
- 11th Circuit Rebels Against SCOTUS on TILA Rescission! July 12, 2017This shows beyond a shadow of doubt that the courts are not going to “allow” claims or defenses based upon the effectiveness of TILA Rescission. Despite the clear wording of the TILA Rescission federal statute and the clear and unanimous and FINAL decision in the SCOTUS Jesinsoki decision, judges think they can disagree with a […]Neil Garfield
- The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives Hardcover – July 11, 2017 July 12, 2017Pulitzer Prize–winning journalist Jesse Eisinger paints a blistering account of corporate greed and impunity, and the reckless and anemic response from the Department of Justice and Department of Treasury where penalties and fines were only implemented to create the illusion of enforcement. To date, no banksters are in prison after the fallout from the finan […]Neil Garfield
- 6th Cir. Bankruptcy Panel Holds Foreclosure Deficiency Judgment May Be Avoided July 12, 2017First posted on http://www.stopforeclosurefraud.com Lexology- The Bankruptcy Appellate Panel of the U.S. Court of Appeals for the Sixth Circuit recently held that a mortgage foreclosure deficiency judgment lien may be avoided under 11 U.S.C. § 522(f)(2), reversing the bankruptcy court’s ruling to the contrary. A copy of the opinion is available at: Link to O […]Neil Garfield
- David Dayen: It’s About to Get a Lot Easier to Sue Your Bank for Screwing You Over- unless the Republicans kill the new regulation July 11, 2017It’s About to Get a Lot Easier to Sue Your Bank for Screwing You Over David Dayen Jul 11 2017, 11:54am Image by Lia Kantrowitz Unless Republicans in Congress decide to kill a new regulation, that is. It’s almost unheard of for the federal government to ban anything done by Wall Street bankers. Maybe the […]Neil Garfield
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