Attorney General Koster announces plea agreement with Lorraine Brown Over Robo-Signing

Jefferson City, Mo. – Attorney General Chris Koster today announced that the state of Missouri and Lorraine Brown, former President of DocX, LLC, have reached a plea agreement.  Under the agreement, Ms. Brown will plead guilty to one felony count of forgery, one felony count of perjury, and one misdemeanor count of making a false declaration.

Brown will be sentenced to a term of imprisonment of not less than two years and not to exceed three years in the Missouri Department of Corrections. Continue reading “Attorney General Koster announces plea agreement with Lorraine Brown Over Robo-Signing

How to apply for independent foreclosure review

dennis-norman-st-louis-realtor-UPDATE – August 2, 2012 – The deadline for requesting a review of your mortgage foreclosure under the federal banking agencies’ Independent Foreclosure Review has been extended until December 31, 2012

If you feel you were a victim of an improper foreclosure process in 2009 or 2010 by one of the companies below, you may apply for an independent foreclosure review and receive compensation if the independent review finds evidence of direct financial injury to you due to servicer error. Time is running out however as the deadline to apply is July 31, 2012. To make it easier to understand the process, the fed’s have produced a video on how to apply which I have included below. Continue reading “How to apply for independent foreclosure review

Victims of bad foreclosure practices get more time to apply for review and possible compensation

dennis-norman-st-louis-realtor-foreclosures-Last November I wrote about how victims of wrongful foreclosure could apply for an independent review of their file and possibly receive compensation under a new presented by acting Comptroller of the Currency, John Walsh. The deadline to apply for this was to be April 30, 2012, however, today, the Office of the Comptroller of the Currency announced they have extended the deadline to apply three months until July 31, 2012. Continue reading “Victims of bad foreclosure practices get more time to apply for review and possible compensation

AG Settlement: Not Perfect, But Significant Reform of Mortgage Servicing

Based on what we’ve heard, the settlement between major banks and states’ Attorneys General (AGs), the federal Department of Housing and Urban Development, and the Department of Justice would represent an important step forward in addressing foreclosure abuses. The settlement would include key reforms to clean up unfair mortgage servicing practices. It would also provide an important template for ways banks can use principal reduction to reduce unnecessary foreclosures and put the country back on a path to economic recovery. Continue reading “AG Settlement: Not Perfect, But Significant Reform of Mortgage Servicing

Victims of bad foreclosure practices can now apply for review and possible compensation

Dennis Norman, St Louis REALTOR - Robo Signing- Foreclosure Victim's - Apply for compensationIn late September I wrote about a plan presented by acting Comptroller of the Currency, John Walsh, to address the “robo-signing” issue as well as other improper practices in the foreclosure process that have surfaced. Mr. Walsh’s plan includes an independent review of the files of borrowers that feel they were a victim of a wrongful foreclosure practice as well as the potential for compensation or other relief for borrowers that were found to have been subject to improper foreclosure practices. Just this week it was announced that eligible borrowers may not apply for a review of their file and, if irregularities are found, file a claim for compensation. Continue reading “Victims of bad foreclosure practices can now apply for review and possible compensation

Restitution for victims of improper foreclosure practices

Dennis Norman, St Louis REALTORRobo-signing is one of those terms I never heard until the news of improper foreclosure practices by some of the nation’s largest lenders started hitting the news in the past year and now the word has become synonymous with bad foreclosure practices. As a result, in April of this year the Office of the Comptroller of Currency (OCC), along with other federal agencies, took action against 14 major banks to stop the improper practices. Continue reading “Restitution for victims of improper foreclosure practices

Consumer Organization to Congress: Lenders ‘Lawless Attitude’ pushes homeowners into Foreclosure

The “robo-signing” scandal that has exposed illegal practices by servicers of mortgage loans has also showed the urgent need to reform a broken system that is plagued with abuses, lacks adequate resources and has pushed countless homeowners toward foreclosure.

That’s the message that Diane Thompson, a lawyer for the National Consumer Law Center, delivered in testimony earlier this week to the Senate Committee on Banking, Housing and Urban Affairs. Continue reading “Consumer Organization to Congress: Lenders ‘Lawless Attitude’ pushes homeowners into Foreclosure