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Wells Fargo accused of unlawfully repossessing service member’s car while deployed

That is outrageous that Wells Fargo continues to treat service-members like this.

Justice League

Here we go again…

41 Investigators discover hundreds of cases

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JPMorgan Ordered to Pay More Than $4 Billion to Widow and Family

I am curious as to whether JPMorgan Chase invested any of the funds in this probate estate in Mortgage Backed Securities.

Justice League

That’s billion with a B….

  • Outsize punitive damages awards are often reduced by courts
  • Bank found by jury to have mismanaged estate of Max Hopper

JPMorgan Chase & Co. was ordered by a Dallas jury to pay more than $4 billion in damages for mishandling the estate of a former American Airlines executive, but the verdict will probably be knocked down on appeal.

Jo Hopper and two stepchildren won the probate court verdict over claims that JPMorgan mismanaged the administration of the estate of Max Hopper, who was described as an airline technology innovator in a statement issued by the family’s law firm.

Large punitive damages verdicts like the one in the Hopper case are often scaled back because the U.S. Supreme Court has ruled they can’t be disproportionate to actual damages. In this case, the jury awarded less than $5 million in actual damages.

Read on.

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Contact your senators and ask them to vote against Senate Joint Resolution 47

Call Your Senators; Tell Them NOT to Take Away Your Day in Court Against Big Banks Focus Area: Forced Arbitration For too long, Wall Street lawyers and lobbyists have used a secret tactic, fine print contracts, to take away Americans’ constitutional right to go to court. After more than five years of studying and working […]

via Don’t Give the Big Banks Another Sneaky Victory. Call McCain and Flake. — Findsen Law

Now It’s Fabricated or Unenforceable Student Loans

Livinglies's Weblog

The CFPB laid down some serious fines on National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, Inc. The firms were collectively ordered to pay $26.1 million for attempting to collect on loans that were at best out of date and at worst nonexistent.

The Consumer Financial Protection Bureau (CFPB) specifically alleges that the firms would drag “borrowers” into court or pursue aggressive collection actions on consumers whose debts had already expired — or on debts that they could not actually prove were owed. The action against the entities further alleges that they relied on false and misleading legal documents to compel funds out of consumers illegally.

{Editor’s Note: Same dog, different house. When will the CFPB start prosecuting the same crimes and other illegal acts that lie at the heart of nearly all foreclosures?}

Get a LendingLies Consult and a LendingLies Chain of Title Analysis! 202-838-6345 or…

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Nardolillo V. Chase – Northern District of California: Motion to Dismiss Denied

That is good news that at least some judges are beginning to see through the smokescreen put out by the big banks and mortgage servicers.

Livinglies's Weblog

By J. Guggenheim/www.lendinglies.com

Note: Our ongoing gratitude to Investigator Bill Paatalo of BP Investigative Agency for keeping us updated with significant developments in nationwide foreclosure defense cases.  Paatalo is the preeminent investigator regarding WaMu/JPMorgan Chase “merger” issues.

See Nordolillo v. JPMorgan Chase Nardolillo v. Chase

Analysis by Neil Garfield:  Although Nardolillo’s case has merit, unfortunately he may lose because he already alleged that the loan was sold to a specific securitized trust.  We already know the loans weren’t transferred to the trusts, so Nardolillo has already compromised his own case by making erroneous presumptions.

Without an amendment to his pleadings, he will be forced to prove the trust bought the loan which is impossible because the trust didn’t buy the loan and therefore there is no evidence to support the allegation.

The flip-side is that if Nordolillo had not identified who the loan was sold to, the court would have…

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Back them into a corner — Request for Admissions

This is an excellent strategy if used correctly as requests for admission in California can “request that any other party to the action admit the genuineness of specified documents, or the truth of specified matters of fact, opinion relating to fact, or application of law to fact.” See Code of Civil Procedure section 2033.010.

Livinglies's Weblog

As part of my consultation on a case involving PennyMac and Citi, I suggested a strategy (see below) using the procedural route of a Request for Admissions. If not answered, the requests are deemed admitted — which in most cases will completely undermine the foundation for any of the evidecne proffered by the foreclosing party. If admitted, the same result applies. If denied, you have something to ask for in further discovery. If objections are filed then the lawyer must be prepared with cases, statutes and treatise authority to back up his claim that he/she is entitled to the information and that without it the trial will be a sham.

The usual response to a request for production is that they already gave you the paperwork — when you know and they know that isn’t what you were asking for. You hopefully asked for all documents in which there was…

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Morgan Stanley makes big push into mortgage originations

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Morgan Stanley plans to bring its mortgage origination business in-house, as the bank ramps up the business to create a bigger presence in the mortgage market.

According to the Reuters article by Olivia Oran, Morgan Stanley wants to bring the business in-house to improve customer service and generate more mortgages, citing two people familiar with the matter.

“Morgan Stanley executives hope that handling originations in-house will smooth out the process and give the bank a chance to market other products and services to wealthy clients,” the article stated.

Before bringing the business in-house, Morgan Stanley used PHH Corp. as a third-party provider for its originations.

Read on.

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