311 Views November 13, 2019 Be first to comment
This violated the FDCPA’s prohibition against using “false, deceptive, or misleading representation[s]” including by making false representations about “the character, amount, or legal status of [a] debt.” 15 U.S.C.…
514 Views November 11, 2019 Be first to comment
The CFPB alleges that the Mortgage Law Group (TMLG) and Consumer First Legal Group (CFLG) took in over $19.2 million in fees from over 10,000 distressed homeowners nationwide, with…
659 Views October 30, 2019 Be first to comment
LIT Editor's Comment: If this passes, it is a Disaster for Democracy. Securitization is for making the bankers and the rich, more wealthy off the back of the average…
439 Views October 19, 2019 Be first to comment
Bryan Cohen, a Goldman Sachs Vice President, leaked nonpublic information for almost three years in exchange for cash as part of an international insider trading scheme that led to…
841 Views October 18, 2019 Be first to comment
Ocwen paid Erbey a $500,000 salary and a $1.4 million incentive last year, but his real wealth lies in his large stakes in Ocwen and spin-off company Altisource Portfolio…
730 Views October 16, 2019 Be first to comment
Shapiro spearheaded and concealed an enormous Ponzi scheme through his business, Woodbridge. Woodbridge employed approximately 130 people and had offices located throughout the United States, including in Boca Raton,…
422 Views October 16, 2019 Be first to comment
After careful review, we find that none of Ocwen’s statements rises to the level of an actionable misrepresentation of material fact. Some statements are immaterial puffery, some are mere…
702 Views October 11, 2019 Be first to comment
An attorney for the Banc of California told a judge Thursday that his client is seeking a default judgment against the former son-in-law of President Donald Trump’s former campaign…
618 Views October 10, 2019 Be first to comment
Edward Hendrickson, a former fraud investigator in the Department of Veterans Affairs (VA) Office of the Inspector General, alleged 15 banks knowingly and improperly avoided their regulatory obligation to…
619 Views September 15, 2019 Be first to comment
Since 2015, Herskowitz has been implicated in at least two other schemes targeting borrowers in foreclosure in Florida and Queens. He paid a $281,000 settlement in the Florida case…
830 Views September 3, 2019 Be first to comment
According to the indictment, Thomas and Michelle Selgas, a married couple, conspired with John O. Green, an attorney licensed to practice in the State of Texas, to defraud the…
359 Views September 2, 2019 Be first to comment
In the words of CFPB Director Richard Cordray, “These wolves in sheep’s clothing [lawyers] take money from consumers who are already struggling to pay their bills, falsely promising them…
435 Views September 2, 2019 Be first to comment
“Our lawsuit asserts that consumers were harassed, threatened, and deceived as part of a reprehensible scheme to collect debt that was not even owed,” said CFPB Director Richard Cordray.…
595 Views August 23, 2019 Be first to comment
In the first three months of 2019, the bank reported more than $10 million in loans to finance farming, according to the website CompleteBankData. That’s more than 16 times the…
705 Views August 21, 2019 Be first to comment
Filing fraudulent assignments and substitutions of trustee and related practices appears to be illegal in Texas, too. State Attorney General Greg Abbott recently wrote a letter to banks saying…
666 Views August 17, 2019 Be first to comment
For more than 25 years, MCS has protected and preserved communities across the nation. Some of the largest and most respected banks and mortgage servicers in the industry trust…
711 Views August 14, 2019 Be first to comment
Every investor in Ocwen should be aware of the most powerful shareholder groups. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a…
598 Views August 7, 2019 1 Comment
Ultimately, our vision for Ocwen is to be a leading mortgage servicer with a core competency in loss mitigation that creates positive outcomes for homeowners, communities and investors. Our…
496 Views August 7, 2019 Be first to comment
A Houston law firm’s 20-year effort to collect a $38,000 judgment from a nonpaying client is back on track after an appellate court reversed the former client’s summary judgment…
324 Views August 7, 2019 Be first to comment
Ocwen is still lying in courts across the nation: “Maine’s Supreme Court has made clear that lenders must establish that they have the legal right to pursue foreclosures,” said…
698 Views August 1, 2019 Be first to comment
Cooperman founded Omega in 1991 after 25 years at Goldman Sachs. As of Oct. 31, 2018, the firm had $3.3 billion in assets under management, down from about $9.4…
640 Views August 1, 2019 Be first to comment
Leon "Lee" Cooperman -- Omega Advisors "You know, it is very frustrating in terms of the amount of money you've spent on stock repurchase and the results that you've…
751 Views July 29, 2019 1 Comment
What many seem to have overlooked in this January 17, 2017 Consent Order, was that this agreement was only a mere 3 days before Donald Trump was installed.
413 Views July 27, 2019 Be first to comment
Kirbyjon H. Caldwell is pastor of Windsor Village United Methodist Church, a 14,000-member megachurch at Windsor Village in Houston, Texas. He was one of President George W. Bush's spiritual…
