Tag Archives: Bank

Philip Kramer Responds to Deutsche Bank Suit Against Foreclosure Expert

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Calabasas, California (PRWEB) June 12, 2011

The Law Offices of Kramer and Kaslow not too long ago weighed in on a news article published on the Huffington Post net website final month. According to the Huffington Post’s report, Deutsche Bank is suing the son of foreclosure specialist Lynn Szymoniak for what she is quoted in the post is “in retribution for her efforts to bring their malfeasance to light.”

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Ms. Szymoniak not too long ago appeared on an April 3, 2011 60 Minutes episode, and blasted the lenders for what she believes are their errant ways. For far more particulars, view Ms. Szymoniaks response to the Deutsche Bank suit (Palm Beach Circuit Court, CASE NO: 50 2008 CA 022258 XXXXMB)

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In the Huffington Post post, it is reported that shortly right after the look on 60 Minutes: Szymoniak won a key victory in her personal foreclosure case. The court identified that Deutsche Bank was unable to demonstrate ownership of her mortgage, which had initially been issued by the defunct subprime mortgage lender Alternative 1, and threw the case out.

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According to court documents, Deutsche Bank was permitted to re-file their case if the bank could get appropriate documentation, however. And on Friday, May 6, Szymoniak received a notification from the bank’s lawyers that she was once more being sued for foreclosure.

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Additionally, according to court documents, Deutsche Bank wasn’t just going soon after her. The bank was also attempting to sue her son, Mark Cullen, who is presently pursuing a graduate degree in poetry at the New College in New York. Cullen hasn’t lived in Szymoniak’s home for seven years and is not a celebration to any aspect of her mortgage — he has no interest in either the property or the loan, and by no means has had any such interest, according to Szymoniak.

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“It is just absolute harassment,” Szymoniak mentioned in her interview with the Huffington Post. “He does not personal anything, for god’s sake! He’s receiving a masters in poetry. He not only doesn’t have any funds, he’s by no means going to have any funds.”

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Each Deutsche Bank and their legal counsel, Akerman Sentertfitt LLP, declined to comment.

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California-primarily based consolidated plaintiff litigation attorney Philip Kramer, whose Kramer &amp Kaslow law firm has filed a number of lawsuits against lenders on behalf of property owners comments, I am not shocked to hear that Deutsche Bank had improper record keeping. That is rampant. I am not shocked that they re-filed the suit. It was either that or by their silence admit wrongdoing. What is startling is that they would seek retribution against an innocent third party. I cant believe that any court will let this stand.

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Learn more by going to the Kramer and Kaslow weblog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior partner of the Law Office of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on enterprise litigation, and true house matters. He has prosecuted and defended instances for more than twenty five years.

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Mr. Kramer is a licensed genuine estate broker and has spent considerable time delivering legal solutions in connection with real estate problems relating to loan modification and loss mitigation, land use and zoning, environmental concerns, easements, building and development, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 instances. He has appeared on nationally televised programs regarding pre-trial process and trial approach and has appeared as a guest lecturer on subjects ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of numerous legal and business troubles.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization committed to bringing professionalism and civility back into the legal profession. He also serves on several Boards of Directors and serves as an officer in many businesses. For a lot more data call (818) 224-3900 or visit http://kramer-kaslow.com

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Law Offices of Kramer and Kaslow: New York Bank Investigation Could Leave Banks Facing Charges

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Calabasas, CA (PRWEB) June 13, 2011

The Law Offices of Kramer and Kaslow is weighing in on a new report from the New York Times that claims that the New York lawyer general is investigating big banks for alleged wrongdoing. According to the Might 16 New York Times report, The New York attorney common has requested details and documents in current weeks from three significant Wall Street banks about their mortgage securities operations for the duration of the credit boom, indicating the existence of a new investigation into practices that contributed to billions in mortgage losses.

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Not too long ago elected New York Lawyer Common Eric T. Schneiderman declined to comment but according to folks briefed on the matter who were not authorized to speak publicly, Eric T. Schneidermans workplace have also requested meetings with representatives from Bank of America, Goldman Sachs and Morgan Stanley.

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The post also spoke with Daniel C. Richman, a professor of law at Columbia. Element of what prosecutors have the benefit of carrying out proper now, here as elsewhere, is watching the civil suits play out as diverse parties fight over who bears the loss, mentioned Richman. Thats a extremely productive supply of details.

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Noted attorney Philip Kramer, senior companion at the law firm of Kramer &amp Kaslow whose consolidated litigation plaintiffs have been suing banks for their foreclosure practices agrees with Richman, A lot of wrongdoing has been uncovered in civil circumstances. What is specifically fascinating about the New York Attorney Generals method is that they appear to have picked up on some of the problems we have utilized in our suits: fraud and greed in the securitization process being essential elements.

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More of Philip Kramers comments can be discovered at the Law Offices of Kramer and Kaslow weblog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior partner of the Law Office of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on enterprise litigation, and genuine home matters. He has prosecuted and defended cases for over twenty five years.

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Mr. Kramer is a licensed real estate broker and has spent considerable time delivering legal services in connection with true estate issues relating to loan modification and loss mitigation, land use and zoning, environmental problems, easements, building and improvement, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice ahead of all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has attempted in excess of 200 cases. He has appeared on nationally televised applications relating to pre-trial procedure and trial method and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer regularly lectures on a broad spectrum of various legal and organization issues.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization devoted to bringing professionalism and civility back into the legal profession. He also serves on quite a few Boards of Directors and serves as an officer in a lot of businesses. For far more info get in touch with (818) 224-3900 or pay a visit to http://kramer-kaslow.com

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Kramer and Kaslow: Bank Probes Uncover Questionable Practices on Foreclosures

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Calabasas, California (PRWEB) June 14, 2011

Attorney Philip A. Kramer, senior companion of the Kramer &amp Kaslow law firm which is conducting consolidated plaintiff litigation lawsuits on behalf of hundreds of property owners, remarked on a recent expose of bank probes by the news internet site Propublica.

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Propublica is truly carrying out a public service with their investigations,” stated Philip Kramer. “I represent hundreds of clients who have been wronged by the banks. We have charged fraud, and conspiracy, calumny and deception, from leading to bottom. There is a lot of malfeasance going on, and other than our civil suits, there has been little or no judicial action. One thing has to be done and I am hopeful that Propublicas investigations may possibly help commence that process.

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Propublica journalist Marian Wang writes in a recent write-up, As we and many other folks have noted, no prime banking executives have been effectively prosecuted in connection with the financial crisis: not for making the poor loans that fed the mortgage machine, not for lying about the top quality of the mortgages, and not for foreclosing improperly when home owners struggled to make loan payments. But there have been several investigations. Some are still pending, other folks look to have fallen by the wayside. Heres our overview of what the banks have been accused of undertaking at every stage of the mortgage machine.

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Propublica compares the undesirable foreclosure procedure to a machine and argues that the initial step is risky lending and underwriting. Philip Kramer agrees. “If you look at any of the cases we filed, for example, take a appear at: Maxam v. Bank Of America (case No: 30-2011-00450819-CU-MT-CXC), youll see that we already know a fantastic deal about the banks misbehavior. The query is, When will judicial and regulatory bodies catch on?

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Propublica breaks down the bank practices foreclosure crisis into five regions:

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Kramer and Kaslow: Even Right after Mortgage Modification, Alleged Shoddy Bank Practices Hurt Homeowners

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Calabasas, California (PRWEB) June 16, 2011

Philip Kramer, lead lawyer at the Law Offices of Kramer and Kaslow, lately commented on a Propublica write-up about mortgage modification issues. According to the news publication Propublica.org, A lot of homeowners have been granted a difficult-fought mortgage modification only to have their mortgage company efficiently pull a bait and switch.

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Propublica goes on to report, To get a sense of how widespread this problem is, the nonprofit Connecticut Fair Housing Center conducted an informal survey of 16 legal aid organizations and one particular private attorney. In practically a quarter of the 655 situations of modifications they reviewed, the mortgage servicer did not abide by the terms of the agreement.

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Bryan Hubbard, a spokesman for the Office of the Comptroller of the Currency (OCC), the primary regulator for the country’s largest banks, said in the report that, Regulators were aware of the issues and are placing processes in place to address them. The banks, for instance, will soon be required to give a “single point of contact” for every homeowner, so that when an error does happen, the homeowner will supposedly be in a position attain somebody knowledgeable about their case.

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When asked to comment, Philip A. Kramer, a noted litigator whose firm Kramer &amp Kaslow has filed consolidated plaintiff litigation lawsuits on behalf of hundreds of home owners against some of the nations top banks, said, This behavior is standard, sadly. Its a mixture of arrogance and incompetence. Perhaps worse, due to the fact what normally takes place is that when a homeowner gets an attorney involved, the banks get responsive. That suggests that at the really least, they can get factors appropriate when they have to.

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Far more of Philip Kramers observations can be located at the Kramer and Kaslow weblog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior partner of the Law Workplace of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes industrial litigation and trial advocacy, with a concentration on enterprise litigation, and true house matters. He has prosecuted and defended instances for more than twenty 5 years.

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Mr. Kramer is a licensed genuine estate broker and has spent considerable time providing legal solutions in connection with real estate concerns relating to loan modification and loss mitigation, land use and zoning, environmental concerns, easements, building and improvement, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice just before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 cases. He has appeared on nationally televised programs relating to pre-trial procedure and trial approach and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of a variety of legal and enterprise concerns.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a previous president of the Los Angeles West Inns of Court, a national organization committed to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in numerous organizations. For more details contact (818) 224-3900 or go to http://kramer-kaslow.com

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Find More Loan Modification Services Press Releases

Kramer Law: Bank of America Accused of Burdening U.S. Regulators In the course of the Foreclosure Evaluation Procedure

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Calabasas, CA (PRWEB) June 21, 2011

Philip Kramer, lead attorney at the Law Offices of Kramer and Kaslow, released comments nowadays concerning current reports of a court filing against Bank of America Corp. ( Superior Court of the State of Arizona, State of Arizona v. Countrywide Monetary Corporation et al, CV2010-033580). According to court documents, Bank of America is accused of unnecessarily burdening U.S. regulators who had been reviewing the mortgage giant’s foreclosure practices.

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A Huffington Post article information how the Arizona suit is based, in portion, on the findings of The Division of Housing and Urban Improvement Inspector General’s Office, which performed a assessment of the 5 biggest mortgage servicers, such as Bank of America, which is the most significant.

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Departmental auditor William Nixon mentioned Bank of America “significantly hindered” the assessment, according to a document filed in a lawsuit brought by the State of Arizona against the bank.

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“Bank of America, the biggest handler of house loans in the U.S., threw up roadblocks to the investigation, Nixon said, like stopping his group from performing a “walkthrough” of the bank’s documents unit.

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The bank withheld key documents and information, prevented investigators from interviewing bank workers or asking particular inquiries, and was slow to offer info, according to a June 1 declaration by William W. Nixon, a fraud examiner and assistant regional inspector basic for audit for the U.S. Division of Housing and Urban Improvement inspector general’s office.

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“When interviews were permitted, the presence or involvement of the bank’s attorneys restricted the effectiveness of these interviews,” Nixon stated in the filing.

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According to court document, the bank also failed to completely comply with subpoenas issued by Nixon’s group. HUD’s internal watchdog issued two subpoenas requesting documents and details, and what was returned was incomplete, had conflicting info, and in some cases, the bank offered excerpts of documents rather than the full record.

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Also alleged in the suit is that in one instance, Bank of America supplied only a third of what the watchdog requested. In another instance, Nixon’s group waited 3 days for the bank to fulfill a request for “basic information.” Though the document was requested on a Friday and provided to investigators the following Monday, what the bank provided “prompted many extra concerns that necessary answering,” Nixon stated in court documents.

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The Huffington Post reports that due to Bank of America’s “reluctance,” Nixon resorted to asking the Justice Department to situation so-known as civil investigative demands final December to compel testimony, a “less efficient” implies of carrying out its investigation, Nixon said. His workplace can’t compel testimony on its own.

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Philip A. Kramer is a senior companion of the law firm Kramer &amp Kaslow which has filed consolidated plaintiff litigation suits on behalf of hundreds of home owners against six major lenders, such as Bank of America Corp.

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I dont know if this is the final nail in the coffin, Kramer states. If nothing else, it looks like it is what Winston Churchill after characterized as Now this is not the end. It is not even the starting of the end. But it is, possibly, the end of the beginning. My clientele have repeatedly alleged this behavior, and no 1 paid attention. We have been screaming from the mountain tops that this has been going on, and no one wanted to listen. Its a satisfied day when the government finally gets it.

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According to the Huffington Post report, Bank of America spokesman Dan Frahm mentioned any suggestion that the bank had not fully cooperated was inaccurate. “We offered on-internet site and adhere to-up access to much more than 55,000 pages of material and we voluntarily coordinated interviews and assisted with arranging depositions with two dozen employees,” Frahm stated in an e mail on Monday.

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Philip Kramer is really familiar with the practice of pretending to cooperate as practiced by the banks. They paper you to death with documents that are not relevant, although other a lot more pertinent documents are not disclosed or are buried in a veritable blizzard of paperwork. They provide details, interviews and the like with parties who have little or nothing at all derogatory to declare about bank practices. Lets just say it is unlikely they will ever deliberately place you in get in touch with with a whistleblower.

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Philip Kramer believes in fighting the great fight. Rather than becoming put off by the efforts of Bank of America and others to obfuscate and delay, he sees their behavior as the final desperate attempts of the behemoths to hold off disclosure. Its not going to operate, says Kramer. It never does.

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Far more of Philip Kramers observations can be discovered at the Law Offices of Kramer and Kaslow blog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior companion of the Law Office of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes industrial litigation and trial advocacy, with a concentration on organization litigation, and genuine home matters. He has prosecuted and defended situations for over twenty 5 years.

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Mr. Kramer is a licensed true estate broker and has spent considerable time providing legal services in connection with true estate concerns relating to loan modification and loss mitigation, land use and zoning, environmental concerns, easements, construction and improvement, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 circumstances. He has appeared on nationally televised programs with regards to pre-trial procedure and trial technique and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of different legal and company troubles.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization devoted to bringing professionalism and civility back into the legal profession. He also serves on several Boards of Directors and serves as an officer in many companies. For far more data contact (818) 224-3900 or go to http://kramer-kaslow.com

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Bank of America Below Scrutiny For Failure to Modify Mortgages

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Roseville, California (PRWEB) September 08, 2011

The most common story I hear at UFAN from possible consumers is that theyve tried diligently for a loan modification, usually for a years time or much more. They are necessary to send in the same paperwork numerous times. Despite the fact that they contact and confirm that the paperwork was received, a couple of weeks (and sometimes months) later, a bank representative calls back and says it never came. Trying to function with bank loss mitigation is maddening. There is no truer instance, in my opinion, of how a single hand doesnt know what the other is doing.

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A current LA Instances report information how Bank of America and other key banks have been censured by the Obama administration for failing to comply with procedures under the Property Cost-effective Modification Program (HAMP).

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An inquiry, performed by the Treasury Division, identified that the 3 banks needed substantial improvement in properly evaluating borrowers’ incomes a key component of figuring out eligibility for HAMP. Below HAMP, a bank receives monetary incentives from the Federal government in exchange for modification of borrowers mortgages. Bank of America, JPMorgan Chase and Wells Fargo have received millions from the system. According to the above referenced report, funds will no longer be distributed to these banks until the necessary improvements have been implemented in their modification programs.

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The report further states that Bank of America, the nations biggest mortgage servicer, was singled out in the investigation as getting the worst offender. The administration concluded that Bank of America needs to make substantial improvement in identifying and contacting borrowers for the plan, clearly demonstrating how the bank reaches its loan-modification choices and making sure the bank was getting the correct incentive payments by means of the system. These findings coincide with allegations of Bank of Americas other current mortgage related abuses reported in the media.

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UFAN lately filed a multi-party suit against Bank of America in California Superior Court (case number 34-2011-0019314), alleging, among other issues, that the bank engaged in misconduct in its mortgage modification procedures. Court documents allege that the lead Plaintiff in the case was told to stop generating mortgage payments in order to be considered for a loan modification. She did so, according to the filing, but kept cash on hand required to bring the mortgage existing if negotiations proved fruitless. The complaint details how regardless of informing the bank of her willingness to spend, and promises by the bank that it would postpone foreclosure, the bank foreclosed and sold her residence, thereby denying her the proper to remedy the deficiency.

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The Washington Post reported in 2008 on a settlement, spearheaded by then California Lawyer Common Jerry Brown, in between Bank of America and 12 State Attorneys Common Bank whereby the bank promised that it would modify mortgages of its distressed borrowers that had been placed in negative loans. But, Bank of America is now below investigation, as reported by media sources, by all 50 state attorneys basic for allegations of reneging on these past promises, as nicely a host of other deficiencies in its mortgage practices.

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Even though HAMP was designed to market modification of 3-four million mortgages, as of Might 2011, only 731,451 borrowers had received permanent loan modifications via the program, the Huffington Post reports.

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Complementary consultations offered.

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By: Kristin Crone, Esq., UFAN Legal Group, Computer dba United Foreclosure Lawyer Network (UFAN)

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ABOUT THE UNITED FORECLOSURE Lawyer NETWORK

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United Foreclosure Attorney Network (UFAN) is a Roseville, California-based law firm delivering mortgage related legal solutions. The devoted attorneys and staff at UFAN operate tirelessly to seek and fight for the rights of American property owners. For much more information call toll totally free 1-866-400-4242.

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This release could constitute attorney advertisement. The data in this release and on the United Foreclosure Lawyer Network (TheUFAN.com) site is for basic details purposes only. Absolutely nothing in this release or on the United Foreclosure Attorney Network (TheUFAN.com) site should be taken as legal advice. Prior successes are no guarantee of future performance. Litigation is inherently uncertain and results in litigation are never ever assured.

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Connected Loan Modification Services Press Releases

Multi-celebration Suit Filed by Borrowers Against Aurora Bank et al

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Roseville, California (PRWEB) November 11, 2011

On Tuesday October 25, 2011, United Foreclosure Lawyer Network (UFAN) filed suit in Superior Court in Sacramento (case # 34-2011-00112919) on behalf of borrowers allegedly injured by the lending practices of Aurora Bank and other people believed to have misled borrowers.

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The complaint alleges that Aurora was one particular of the significant players in a scheme to make quickly, easy income at the expense of proper mortgage underwriting procedures. By packing subprime loans into mortgage backed securities that were sold to investors, a bank could recoup the funds lent quickly. The suit argues that this procedure encouraged lenders and mortgage brokers to aggressively push higher-expense subprime loans on any individual they could convince to sign on the dotted line.

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According to court documents, plaintiffs argue that due to the fact of the sale of their loans, they did not obtain the benefit of the contract for which they bargained. Plaintiffs, believing they would be placed into a standard Lender/Borrower connection, later identified that they did not have a lender with whom they could deal. Servicers are restricted in producing alterations to contracts when situations are unforeseeably changed. Furthermore, loan servicers have an incentive to foreclose whereas a lender has the incentive to modify a loan if it would be much more profitable in the extended run. If numerous of the home owners had been still in the traditional lender/borrower relationship, they could have restructured the mortgage for a far more desirable result for both parties. In the present circumstance, the only entity profiting is the loan servicer. The complaint specifics how many Plaintiffs diligently sought modification of their loans but had been denied either because the servicer had no authority to grant a modification or since the servicer chose not to grant a modification.

UFAN Files New Lawsuit Against U.S. Bank on Behalf of Borrowers

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Roseville, CA (PRWEB) January 26, 2012

On January 13, 2012 UFAN Legal Group, Computer filed suit against U.S. Bank in San Diego County Superior Court (case quantity 37-2012-00065195-CU-OR-EC) on behalf of borrowers allegedly injured by the Banks lending and servicing practices.

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The complaint alleges that U.S. Bank schemed to profit from reckless and negligent lending practices that ensured borrowers would default on their mortgages. US Bank is alleged to have abandoned its personal underwriting standards in an effort to originate as several mortgages as possible for immediate sale on the secondary mortgage market. The complaint argues that since US Bank could immediately sell mortgages and get completely compensated, it incentivized fraud by loan officers and brokers by providing higher origination fees on subprime loans.

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According to the complaint, Plaintiffs allege US Bank acted negligently in both the origination and modification of Plaintiffs loans. Plaintiffs argue that US Bank wore two hats 1 of a purported lender of money and a single as a developer and seller of residential mortgage backed securities (RMBS). By taking on such a dual function, US Bank was no longer acting as a mere lender of cash, but rather acting as a middleman in marketing and advertising and selling loans. US Bank breached its duty by abandoning standard underwriting standards and encouraging the origination of predatory loans, the complaint alleges.

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The complaint alleges that U.S. Bank used falsified borrower info like credit ratings and income, as effectively as inflated property appraisals, as component of the origination method. It is argued that US Bank incentivized property appraisers and loan originators to falsify this info in order to spot borrowers in bigger and more dangerous loans. The higher the loan quantity, the much more income U.S. bank was able to make on the sale of the RMBS to investors. The complaint suggests that Plaintiffs borrowed excessively in reliance on this falsified info and were harmed by the excessive debt burden.

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Plaintiffs also allege negligence on the part of U.S. Bank associated to the servicing of Plaintiffs loans. Plaintiffs have been lured into a false sense of security by means of the modification procedure, and relied to their detriment on representations by U.S. Bank that a modification would be forthcoming. The complaint alleges that no modification was, in reality, intended and that Plaintiffs placed false hope and abandoned other legal rights in reliance on the modification procedure. In numerous circumstances, Plaintiffs had been induced to default on payments to qualify for modification. US Bank had an interest in foreclosing on Plaintiffs as it no longer held the threat of default and now receives charges for foreclosing.

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Plaintiffs argue that US Bank was in a position to foresee this detrimental reliance and subsequent harm, and consequently breached its duty to Plaintiffs.

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The complaint against U.S. Bank is the newest lawsuit filed by UFAN on behalf of borrowers alleged to have been injured by the lending and servicing practices of the major banks. Home owners believed to have been injured by way of the mortgage practices of US Bank or other individuals are urged to get in touch with UFAN.

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ABOUT THE UNITED FORECLOSURE Lawyer NETWORK

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UFAN Legal Group, Pc dba United Foreclosure Attorney Network (UFAN) is a Roseville, California-primarily based law firm delivering mortgage litigation and other debt associated legal solutions. The devoted attorneys and employees at UFAN operate tirelessly to seek justice and fight for the rights of its consumers. For much more information get in touch with toll totally free 1-866-400-4242.

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This release could constitute attorney advertisement. Kristin Crone, Esq. is the attorney responsible for this advertisement. The data in this release and on the UFAN web site (ufanlaw.com) is for common data purposes only. Nothing at all in this release or on the UFAN website should be taken as legal suggestions. Prior successes are no assure of future functionality. Litigation is inherently uncertain and outcomes in litigation are never ever assured.

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Wells Fargo Bank Commits up to $250,000 for ClearPoint Credit Counseling Solutions to Assist Struggling Property owners Facing Financial Challenges

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Los Angeles, CA (PRWEB) February 02, 2012

ClearPoint Credit Counseling Options (CCCS) announced these days that Wells Fargo, Americas largest mortgage lender, is committing up to $ 250,000 to ClearPoint to give in-particular person and phone counseling and assistance to its buyers including applying for mortgage modifications.

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Preservation of property ownership is the focus of this collaboration amongst ClearPoint and Wells Fargo , stated Chris Honenberger, ClearPoint president and CEO. By way of this partnership, ClearPoint will be capable to supply customized counseling to support bring relief to homeowners in distress nationwide.

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With the collaborative effort, Wells Fargo has approved ClearPoint to help extend property preservation services to Wells Fargo mortgage clients by means of comprehensive credit counseling and mortgage payment assistance. The system supplies a Internet-enabled portal for counselors to transmit the essential documents necessary to successfully offer help to buyers with mortgage modifications.

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Wells Fargo believes in the critical role HUD-approved housing counselors like ClearPoint have in assisting homeowners facing mortgage payment challenges, stated Joe Ohayon, SVP and Wells Fargo Residence Mortgage Servicing Neighborhood and Client Relations. This collaborative effort is an additional instance of Wells Fargos commitment to help clients keep in their houses.

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As part of the effort, ClearPoint employees or volunteer professional will give extensive mortgage counseling, loss mitigation help, and assist with refinancing. Wells Fargo mortgage customers facing foreclosure are encouraged to apply for assistance by calling a HUD-authorized counselor at 877-877-1995 or visiting http://www.clearpointccs.org.

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Wells Fargo buyers can also receive help straight from Wells Fargo House Mortgage by calling Servicing at 800-678-7986, on the Web at http://www.wellsfargo.com/homeassist/, and at Wells Fargo Residence Preservation Workshops (a schedule is posted at http://www.wfhmevents.com/leadingthewayhome). From January 2009 by means of November 2011, Wells Fargo has conducted 724,710 active trial or completed mortgage modifications in its servicing portfolio. According to Wells Fargo executives, more than the last 12 months, much less than two percent of the owner-occupied mortgage loans in the companys servicing portfolio resulted in a foreclosure sale.

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Associated Loan Modification Services Press Releases

Corporate Whistle Blower Center Urges Bank FHA & VA Loan Originators Servicing Appraisal or Underwriting Whistleblowers with Proof of Fraud to Step Forward-Enormous Rewards

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(PRWEB) March 05, 2012

The Corporate Whistle Blower Center is urging bank, mortgage banking, bank originators, or loan servicing insiders to step forward for potentially multi million dollar rewards, if they possess significant,and substantial proof of any variety of important appraisal fraud, or key wrongdoing involving FHA, VA, Fannie, or Freddie mortgages. The groups essential is focus is major bank managers, loan servicing insiders,or significant homebuilder mortgage managers, who knew about inflated appraisals for Fannie Mae, Freddie Mac, FHA, or VA mortgages, and nevertheless have the proof. The time frames are 2003-2008. The Corporate Whistle Blower Center Mortgage Whistleblower Initiative is seeking for the following kinds of whistleblowers:&#13

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On the mortgage origination side the Corporate Whistle Blower Center is seeking for key bank, mortgage banker, house builder mortgage managers, or insiders, who can prove their bank, or mortgage lender employer was committing appraisal fraud, as effectively as gouging borrowers on fees, or not complying with certain rules that govern Fannie, Freddie, FHA, or VA mortgages. &#13
On the loan serving side, The Corporate Whistle Blower Center is hunting for folks who possess important proof, their bank or loan serving organization employer was intentionally misapplying payments for principal, interest, and/or for reserves. The group is also hunting for bank, or loan servicing insiders, whose firm took federal money to do loan modifications, and instead of doing a loan modification the bank, or loan servicer did a foreclosure. No one ever checked the file. &#13
On the Wall Street side: The Corporate Whistle Blower Center is searching for insiders, who have been bundling, or packaging Mortgage Backed Securities, realizing full properly the mortgage backed securities ought to have been in no way given a A, a AA, or a AAA rating. The Corporate Whistle Blower Center says, “The Mortgage Backed Securities instances could reap rewards in the tens, and tens of millions of dollars, but the proof has to be substantial, and effortless to adhere to.”

The Corporate Whistle Blower Center says, “Once again, the wrongdoing has to be widespread, and the proof has to be important, and quite straightforward to see.” For a lot more data, bank or mortgage lender insiders or loan servicing insiders are encouraged to speak to the Corporate Whistle Blower Center anytime at 866-714-6466, or they can speak to the group via their net site at http://CorporateWhistleBlowerCenter.com

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Simple guidelines for a whistle blower from the Corporate Whistle Blower Center: &#13

Do not go to the government 1st, if you are a significant whistle blower. The Corporate Whistle Blower Center says, “Significant whistle blowers frequently go to the federal government pondering they will support. Its a massive mistake. Often government officials could care much less, or they are incompetent.” &#13
You must be the 1st particular person to present your details, and it has to be new data, not previously disclosed. &#13
Do not go to the news media with your whistle blower information. Public revelation of a whistle blower’s information could destroy any prospect for a reward. &#13
Do not try to force a government contractor, or corporation to come clean to the government about their wrongdoing. The Corporate Whistle Blower Center says, “Fraud is so rampant among federal contractors, that any suggestion of exposure may possibly result in an immediate job termination, or harassment of the whistle blower. We say, come to us first, tell us what type of info you have, and if we feel its sufficient, we will help find the proper law firms, to help in advancing your data.”

Any variety of insider, or employee, who possesses important proof of their employer, or a government contractor fleecing the federal government is encouraged to get in touch with to Corporate Whistle Blower Center anytime at 866-714-6466, or they can contact the group by way of their net web site at http://CorporateWhistleBlowerCenter.Com

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