Mortgage documentation

Foreclosure Mess Drives Notaries to Take the Fifth

Yet another problem has begun surfacing in the documents banks have been using to foreclose on homes: false notarizations. Notaries have been attesting legally to signatures they didn't witness, sometimes by people who didn't actually sign, and it's adding to the tangled mess of ownership confusion.

Why a New York Judge Is Throwing Out Foreclosure Cases

On Oct. 20, New York courts ordered attorneys for foreclosing banks to swear they'd personally confirmed that their documents are true and accurate. But a Brooklyn judge has taken things a step further. Since the banks aren't complying, he has started throwing out foreclosure cases.

Judge Rejects Wells Fargo Foreclosure Documents Again

U.S. Bankruptcy Court Judge Martin Glenn denied Wells Fargo's request for permission to foreclose on Tandala Mims's house in the Bronx for a second time on Thursday because he still wasn't satisfied that Wells -- as opposed to some other bank -- had the right to do so.

Foreclosure Fiasco: Who Owns This Mortgage?

Most people raising the issue of false mortgage documents are homeowners facing foreclosure. And in general, the banks' responses are that the paperwork issues are mere technicalities -- nothing to be concerned about. Then you find a case like that of like Wells Fargo's attempt to foreclose on Tandala Mims of New York.

Countrywide's Errors Could Cost BofA Billions

Testimony in a New Jersey foreclosure case decided last week may spell big trouble for Bank of America. If what one bank employee said on the stand proves to be accurate, paperwork problems it acquired when it purchased mortgage provider Countrywide could leave BofA on the hook for billions.

The New Bank Stress Tests Show Just How Serious the Mortgage Mess Is

This week, the Congressional Oversight Panel recommended that the nation's big banks be stress tested again, because if problems with mortgage-backed securities are widespread, the consequences could be dire. Now, the Fed has agreed to run those tests, which it wouldn't do if it wasn't worried.

Did Lawyers Commit Fraud in the Foreclosure Fiasco?

The so-called robo-signers at banks who signed thousands of foreclosure-related documents without reading them were lying under oath. But even worse were the robo-signing lawyers and their colleagues: They absolutely knew they were committing frauds that could get them disbarred.

The Foreclosure Mess: Are Cram Downs the Only Answer?

Wells Fargo still won't admit it, but its employees' testimony makes it clear that, like GMAC, JPMorgan Chase, Bank of America and OneWest Bank, they have a problem with their foreclosure documents. But the solution isn't just a better documentation process: It's time to bring back cram downs.