States aim to force changes in foreclosure process

http://finance.yahoo.com/news/States-aim-to-force-changes-apf-3243525447.html?x=0

Here are your state attorney generals all on crack.
They're already talking settlement, what happened to criminal prosecution?
How can you make a deal when you never investigated the case?
The home owner knows that no records were kept and the investors do to.
The use of MERS screwed everyone all the way around, and now it's the banks turn, and they deserve to take it.
Ask yourself, who your Attorney General is really selling out, in an attempt to appease the citizens and cover this nightmare back up.


The top law enforcement officials of states around the country are launching a joint investigation into the problems with foreclosure documents that surfaced in recent weeks. They are already weighing the outlines of a potential settlement with the industry, said Iowa Attorney General Tom Miller, who will lead the investigation. The inquiry will be announced Wednesday morning.

Miller said one idea being discussed is to create an independent monitor to review whether banks have fixed their problems.

Excessively delaying Fannie Mae foreclosures will now cost servicers

http://www.housingwire.com/2010/09/02/excessively-delaying-fannie-mae-foreclosures-will-now-cost-servicers

Wanna good laugh?

Fannie Mae will now review the compensatory fees due to servicers in cases where the government sponsored entity feel servicers are unnecessarily delaying foreclosure.

In a letter sent to servicers, Fannie Mae said it plans to review compensation when it deems applicable, stating that loans "must not be put on hold on a blanket basis."

Fannie Mae is clear that servicers must not jump the gun either,

Noterize this the brewing foreclosure storm

http://www.huffingtonpost.com/jennifer-brunner/notarize-this-the-brewing_b_747461.html

Another must read, by Ohio Secretary of State Jennifer Brunner

Under today's financial schemes, foreclosure documents are routinely created to demonstrate the transfer of the interest in the note so the right person brings the foreclosure lawsuit. In the case of Chase Home Finance, LLC, its Columbus, Ohio employee, Beth Cottrell, testified in her deposition that she helps create foreclosure documents by signing on behalf of the banks and financial institutions (including MERS) that have been involved. Then, a small group of notaries at Chase notarize her and others' signatures on various foreclosure documents (about 18,000 documents a month at Chase Home Finance, LLC).

While serving as a Chase Home Finance, LLC employee, Beth Cottrell's name has appeared in foreclosure affidavits from 2008 through 2010 in the Florida court system on documents showing mortgage amounts owed on behalf of Wells Fargo, U.S. Bank, Federal National Mortgage Association, HSBC, Deutsche Bank, People's Choice Home Loan, Wachovia and Citi, even though she was an employee of Chase Home Finance, LLC in Columbus.

In Ohio, I read two depositions of Beth Cottrell taken in Columbus, Ohio in May of this year, about a Florida foreclosure. I was frankly chagrined to read her description of the notary activity to process the 18,000 documents a month by the company she works for alone--using just eight notaries. In her deposition, Ms. Cottrell's stated that: no oath is administered for the signing of each document; notaries (not signers) are filling in numbers in the affidavits used in court ordered foreclosures; notarized documents are not verified by the person signing them, but rather, signers are relying on verification by others, and notaries know this at the time they notarize documents; and large numbers of documents are signed in bulk and notarized in bulk separately.