Is the US heading for a new wave of foreclosures?

Atlanta-based mortgage servicer Ocwen Financial is a player in hundreds of thousands of homeowner bankruptcies each year, and for a good reason: Ocwen services mortgages worth over $82 billion. Ocwen’s primary clients are the major mortgage lenders: BNY Mellon, Citibank, Deutsche Bank, HSBC, US Bank, and Wells Fargo. These investors are apparently furious with Ocwen […]

Loan Modifications, Foreclosures and Strong Medicine

Two stories tell different sides of the US housing crisis. In Philadelphia, a struggling homeowner tells her story of a tortured loan modification nightmare: at one point it appears she is to be forced from her home because her payment was short thirty-five cents. With no accountability and no predictability, banks who offer loan modification […]

San Bernardino Bankruptcy: The End of Innocence?

The great recession landed the second of a one-two punch as San Bernardino this week followed closely on the heels of Stockton, California in voting to file for Chapter 9 bankruptcy. San Bernardino is reporting a $45,000,000.00 budget deficit and is “so broke it can’t cover its payroll.”  San Bernardino will follow Mammoth Lakes, a […]

California Dreaming: 3 Reasons Why Their New Foreclosure Law May Spread Across The Country

Inspired by the national attorney general mortgage settlement, California has passed a landmark foreclosure law that Governor Brown is expected to sign within days. Here are 3 reasons why the rest of the country will be watching the Golden State in the months and years ahead: No “Dual Tracking”  The California law is designed to […]


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