CLASS ACTION AMENDED against MERSCORP to include Shareholders, DJSP
Posted on26 August 2010. Tags: aig, amended, American Land Title, bank of america, CCO Mortgage Corporation, complaint, Corinthian Mtg, countrywide, CRE Finance Council f/k/a Commercial Mortgage Securities Association, DJS Processing, Everhome, fannie mae, first american title, Freddie Mac, GMAC, Guaranty Bank, HSBC, Ignacio Damian Figueroa vs. David J. Stern, jpmorgan chase & co, Kenneth Eric Trent, Kenneth Eric Trent PA, law offices of david J. stern plantation florida 33324, Merrill Lynch, MERS, MERSCORP, MGIC Investor Svc, mortgage bankers association, Nationwide Advantage, Norwest, PMI Mortgage Insurance Company, racketeering, RICO, shareholders, Stewart Title, SunTrust Mortgage, wamu, wells fargo, Wells Fargo & Company
Kenneth Eric Trent, P.A. of Broward County has amended the Class Action complaint Figueroa v. MERSCORP, Inc. et al filed on July 26, 2010 in the Southern District of Florida.
Included in the amended complaint is MERS shareholders HSBC, JPMorgan Chase & Co., Wells Fargo & Company, AIG, Fannie Mae, Freddie Mac, WAMU, Countrywide, GMAC, Guaranty Bank, Merrill Lynch, Mortgage Bankers Association (MBA), Norwest, Bank of America, Everhome, American Land Title, First American Title, Corinthian Mtg, MGIC Investor Svc, Nationwide Advantage, Stewart Title, CRE Finance Council f/k/a Commercial Mortgage Securities Association, Suntrust Mortgage, CCO Mortgage Corporation, PMI Mortgage Insurance Company, Wells Fargo and also DJS Processing which is owned by David J. Stern.
MERSCORP shareholders…HERE
Related article:
______________________
CLASS ACTION FILED| Figueroa v. Law Offices Of David J. Stern, P.A. and MERSCORP, Inc.
© 2010 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
www.StopForeclosureFraud.com
- http://bit.ly/bFiM7V&source=shareaholic” title=”Tweet This!” rel=”nofollow” target=”_blank”>
- http://stopforeclosurefraud.com/2010/08/26/class-action-amended-against-mersc… (sent via shareaholic) —- Kenneth Eric Trent, P.A. of Broward County has amended the Class Action complaint Figueroa v. MERSCORP, Inc. et al filed on July 26, 2010 in the Southern District of Florida. Included in the amended complaint is MERS shareholders HSBC, JPMorgan Chase & Co., Wells Fargo & Company, AIG, Fa” title=”Email this via Gmail” rel=”nofollow” target=”_blank”>
- http://stopforeclosurefraud.com/2010/08/26/class-action-amended-against-mersc… (sent via shareaholic) —- Kenneth Eric Trent, P.A. of Broward County has amended the Class Action complaint Figueroa v. MERSCORP, Inc. et al filed on July 26, 2010 in the Southern District of Florida. Included in the amended complaint is MERS shareholders HSBC, JPMorgan Chase & Co., Wells Fargo & Company, AIG, Fa” title=”Email this via Yahoo! Mail” rel=”nofollow” target=”_blank”>
- http://stopforeclosurefraud.com/2010/08/26/class-action-amended-against-mersc… (sent via shareaholic) —- Kenneth Eric Trent, P.A. of Broward County has amended the Class Action complaint Figueroa v. MERSCORP, Inc. et al filed on July 26, 2010 in the Southern District of Florida. Included in the amended complaint is MERS shareholders HSBC, JPMorgan Chase & Co., Wells Fargo & Company, AIG, Fa” title=”Email this via Hotmail” rel=”nofollow” target=”_blank”>
This is an interesting case out of Florida alleging MERS violated the RICO statute. If this suit is successful, it will have significant ramifications in other states.
Posted via email from Title Insurance N.J. regulator finds conflict between RESPA, state disclosure requirements Thomas Considine, commissioner of New Jersey’s Department of Banking and Insurance notified lenders and title agents that RESPA’s new disclosure requirements do not comply with state law. He stated that the department will recommend future amendments to state law to conform to the federal regulations, but until then, industry members are still to comply with both federal and state laws. Read on to find out how this can be done. (8/23/2010) The Department of Banking and Insurance commissioner in New Jersey issued a bulletin on Aug. 2 to clarify fee disclosure requirements under New Jersey law while maintaining compliance with the new Good Faith Estimate (GFE) and HUD-1 Settlement Statement forms. Under Bulletin No. 10-17, Commissioner Thomas Considine said the new RESPA forms that became effective on Jan. 1 as part of the Department of Housing and Urban Development’s (HUD) final rule are not consistent with what is required for fee disclosures under the New Jersey Administrative Code. Art Oswald Learntitle.com, LLC dba CyberLearnPro.com 551 404 5341 The richest man is not the one with the most stuff – it is the one with a satisfied mind. Posted via email from Title Insurance The Federal Reserve Board on Monday announced final rules to protect mortgage borrowers from unfair, abusive, or deceptive lending practices that can arise from loan originator compensation practices. The new rules apply to mortgage brokers and the companies that employ them, as well as mortgage loan officers employed by depository institutions and other lenders. Today, lenders commonly pay loan originators more compensation if the borrower accepts an interest rate higher than the rate required by the lender (commonly referred to as a “yield spread premium”). Under the final rule, however, a loan originator may not receive compensation that is based on the interest rate or other loan terms. This will prevent loan originators from increasing their own compensation by raising the consumers’ loan costs, such as by increasing the interest rate or points. Loan originators can continue to receive compensation that is based on a percentage of the loan amount, which is a common practice. The final rule also prohibits a loan originator that receives compensation directly from the consumer from also receiving compensation from the lender or another party. In consumer testing, the Board found that consumers generally are not aware of the payments lenders make to loan originators and how those payments can affect the consumer’s total loan cost. The new rule seeks to ensure that consumers who agree to pay the originator directly do not also pay the originator indirectly through a higher interest rate, thereby paying more in total compensation than they realize. Additionally, the final rule prohibits loan originators from directing or “steering” a consumer to accept a mortgage loan that is not in the consumer’s interest in order to increase the originator’s compensation. The rule will preserve consumer choice by ensuring that consumers can choose from loan options that include the loan with the lowest rate and the loan with the least amount of points and origination fees, rather than the loans that maximize the originator’s compensation. Posted via email from Title Insurance
Continuing Ed for Title Agents
Conflict between New Jersey and Respa disclosure requirements
Continuing Ed for Title Agents
Federal Reserve Bans Yield Spread Premiums
Federal Reserve Bans Yield Spread Premiums
press release
8/16/2010
Continuing Ed for Title Agents
Posts navigation
Online – All the time