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Category Archives: Problems with Loan Servicing

Former South Florida Banker Tells How Banks Are to Blame for Miami Foreclosure Mess

By Jacobs Legal |

The New York Times recently wrote about a former South Florida banker who acknowledges that banks’ loose credit is the reason that the real estate market and financial system in the United States collapsed. He acknowledges that because of his actions — and those like him — foreclosures in Miami and nationwide went viral,… Read More »

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Banks May Still Be Getting Away With Crimes in Miami Foreclosure Cases

By Jacobs Legal |

Homeowners battling foreclosure in Miami know how tough the system can be. Mortgage servicers and real estate investors continue to face civil and criminal prosecution. But as a recent column by new deal 2.0, a news project of the Franklin and Eleanor Roosevelt Institute in New York, opines that mortgage servicers are getting away… Read More »

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Nevada AG Fights Back on Foreclosures With Charges Against ‘Robo-Signers’

By Jacobs Legal |

Miami foreclosure defense lawyers have written quite a bit lately about the fact that banks and mortgage servicers contracted to work for them have been sitting around, wondering if they will come to a settlement with state prosecutors to avoid a glut of lawsuits. We’re happy to report that at least one attorney general… Read More »

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Florida Clerk Sues MERS For Using Invalid and Inaccurate Filings in Miami Foreclosures

By Jacobs Legal |

The clerk of courts in Jacksonville and the attorney general in Delaware have sued MERS — Mortgage Electronic Registration Systems, Mortgage Servicing News is reporting. MERS is an entity created by the nation’s major banks to record and track residential mortgage assignments. This is a private, limited-access system that banks deemed necessary so they… Read More »

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Bank of America Punishes Employees For Spotting Miami Mortgage Fraud

By Jacobs Legal |

A recent story from Bnet.com, a CBS company, highlights the ridiculousness of the banking industry. In the article, the author reports that Bank of America, one of the largest banks in the world, punished its employees who spotted mortgage fraud. Just when you thought banks couldn’t get any more evil. The same lending institutions… Read More »

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Fannie Mae Ignored Robo-Signing Abuse in Miami Foreclosure Cases

By Jacobs Legal |

A recent article in The Palm Beach Post reports that Fannie Mae, the federal mortgage giant, was told five years ago that its attorneys were filing robo-signed documents, but it chose to do nothing about it. Well, isn’t this super. While the government has come out condemning these actions by banks and setting up… Read More »

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Former Countrywide Employees Say Company Covered Up Fraud in Miami, U.S.

By Jacobs Legal |

The news just keeps getting worse for Bank of America and its purchase of Countrywide in 2008. A new report by iwatchnews.org says that 30 former Countrywide employees say the company was protecting officials who were committing fraud by silencing potential whistleblowers. The former employees allege that Countrywide executives encouraged or allowed them to… Read More »

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Banks Are Filing Fake Documents to Steal Away Miami Foreclosed Homes

By Jacobs Legal |

A recent NBC News report on the foreclosure mess in Florida revealed that banks are creating documents in order to have the proper paperwork to push through a foreclosure on Miami homeowners. Sadly, this is no surprise to Miami Foreclosure Defense Attorneys. We have seen banks continue to create documents, pay companies to create… Read More »

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Banks Don’t Learn Their Lessons — Still Using Robo-Signed Documents in Miami Foreclosures

By Jacobs Legal |

A Reuters report in July found that banks are still using robo-signed documents, even though most banks have mostly halted their foreclosures in order to refine the process. Well, it looks like they’re at it again. A recent report by Americanbanker.com states that several dozen documents reviewed by the publication found glaring examples of… Read More »

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Government Misses Helping Miami Foreclosure Homeowners With Bailouts

By Jacobs Legal |

The New York Times recently hit the nail on the head with an article about how the federal government missed Main Street when it bailed out banks. These institutions were handed hundreds of billions of dollars after the lenders gave billions in substandard loans and then handed employees billions in bonuses for doing so…. Read More »

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