Bank of America has outdone itself yet again.
The irresponsible foreclosure practices of banks have been in the headlines. Employees of both GMAC and JPMorgan Chase (JPM) have admitted to signing off on foreclosure documents without actually having read them. The reports have led to renewed questions about the banks’ foreclosure practices.
Not a happy sight
But as usual, the no holds barred winner in the irresponsible bank tricks department is BofA (BAC).
The bank recently foreclosed on a Florida property that doesn’t even have a mortgage, the Sun Sentinel of Fort Lauderdale reported. The foreclosure was started in 2008 by Countrywide, the notorious subprime mill the bank acquired in a fire sale that year. It continued with the proceedings even after the current owner, Jason Grodensky, paid cash for the house last December.
“I feel like I’m hanging in the wind and I’m scared to death,” said Grodensky. “How did some attorney put through a foreclosure illegally?”
BofA admitted the mistake and is fixing it at its own expense, a spokeswoman tells the paper. But you’d have to say this isn’t the bank’s first turn at unfunny foreclosure tricks.
Last year, BofA locked out one Texas homeowner and turned off his power in a foreclosure proceeding. BofA eventually conceded that Alan Schroit owned the house outright, but not before he had the pleasure of returning to the house and finding 75 pounds of spoiled fish in the fridge.
Posted via email from Title Insurance
Continuing Ed for Title Agents
ALTA Best Practice CE course
Stephanie Fullerton of Streamline Consulting discusses the 7 Pillars of ALTA Best Practices. Not only is each Best Practice defined but an explanation is included that gives the reasoning behind it. Steps for implementation and the cerification process are also discussed. Below is a brief outline.
This course has been approved in several states now. Most recently in Pennsylvania. Choose your state below to enroll
- Overview
- ALTA
- 7 Best Practices of Best Practices
Best Practice #1
- Best Practice 1: Licensing
- ALTA’s Policy Forms Licensing Requirement
Best Practice #2
- Best Practice #2: Escrow Trust Accounting
- Best Practice #2: Steps to Compliance
Best Practice #3
- Best Practice #3: Protecting NPI
- Best Practice #3: Steps to Compliance
Best Practice #4
- Best Practice #4: Settlement Processes
- Best Practice #4: Recording Procedures
- Best Practice # 4:Pricing Procedure
Best Practice #5
- Best Practice #5: Policy Production
Best Practice #6
- Best Practice #6: Insurance Coverage
Best Practice #7
- Best Practice #7: Consumer Complaints
Implementing
- Implementing
Assessment
- Assessment Procedures
- Assessment Preparation Workbook
Certification
- Certification Package
- Certification Package Part 1
- Certification Package: Part 2
Conclusion
This course has been approved in several states now. Most recently in Pennsylvania. Choose your state below to enroll
Streamline Consulting, LLC was founded in 2004, born naturally, based on the experience of its founders and a need within the industry for bridging gaps between software and title and insurance functionality. Streamline became an effective, non-biased and neutral third-party, to help make decisions, implement policies and procedures and in utilizing production software to its fullest capacity; all of which needed to be specific to the individual/respective organization.
We take the human resource and the title/escrow capabilities contained within client offices and apply them to the software to bring out the greatest utility in both. Streamline Consulting has team members and resources that focus on documents, reporting, system setup, project management solutions, data conversions, remote or on-site training and implementations, as needed. We function as the main software administrator for many of our clients, by working hand in hand with the client and applying workflow goals and management parameters to customize the software to meet your needs. Communication is not limited to just management. By sitting with client staff, we draw out the reality about how they actually spend their time, what applications they are using, how they use the production software and also work around inefficiencies.
This full bodied engagement is not necessary for everyone. Streamline is also equipped to work with clients on individual projects on an as needed basis. In addition to these professional capabilities, Streamline team members genuinely enjoy taking part in adding value to the client organization which is why we consider ourselves to be your Value Added Partner. We believe every company deserves the opportunity to shine regardless of its size and that in order to be successful, you must empower those around you to be the same. Streamline prides itself on providing innovative solutions, alternatives and opportunities for real estate title insurance companies nationally.
This course has been approved in several states now. Most recently in Pennsylvania. Choose your state below to enroll