Free Republic

It was only a matter of time. A few weeks after every money losing firm in the US and the kitchen sink disclosed it would sue Bank of America in an accelerating attempt to salvage something through litigation, the worst case scenario for Brian Moynhian just got real. As of minutes ago, Norway's Government Pension Fund, which is another name for its Sovereign Wealth Fund, has just announced it is suing Bank of America for mortgage fraud. Not only that but it is also going after Countrywide, obviously, but far more importantly, is also suing KPGM, the auditor on the...

The beautiful thing about this site is pro se advocates, normal every day people, sophisticated foreclosure defense attorneys, journalists and attorneys who are just dipping their toes into the foreclosure defense water are all viewing the information contained on this site. We’re all learning new, confusing, mind-blowing, scary things about foreclosure. Part of what we’re all struggling to do is wrap our arms around just how deep and complex this whole mortgage and foreclosure mess is. Sure you have judges who still say, “They haven’t paid their mortgage, they should get out.” But increasingly, judges and all of us are...

Jimmy Carter signed The Community Reinvestment Act (CRA) in 1977. The Act grew out of the complaint that urban banks were "redlining" inner-city neighborhoods, refusing to lend to their residents while using their deposits to finance suburban expansion. The Clinton administration has turned the Community Reinvestment Act into one of the most powerful mandates shaping American cities (snip) and it is a vast extortion scheme.