New York to sue BofA, Wells Fargo Over Mortgage Practices

Karen Freifeld
Reuters
May 6, 2013

New York Attorney General Eric Schneiderman on Monday said he plans to sue Bank of America Corp and Wells Fargo and Co. for violating the National Mortgage Settlement brokered last year between the country’s biggest banks and 49 state attorneys general.

Schneiderman said that since last October he has documented 339 violations of standards dictating the timeline for banks to process mortgage modification applications.

“Wells Fargo and Bank of America have flagrantly violated those obligations, putting hundreds of homeowners across New York at greater risk of foreclosure,” the attorney general said in a statement. Read full article

FRAUD STOPPERS: Combating Mortgage Fraud and Protecting Homeowners in New York

In a recent development, New York Attorney General Eric Schneiderman has announced his intention to sue Bank of America Corp and Wells Fargo and Co. over their alleged violations of the National Mortgage Settlement. This agreement was brokered last year between the country’s largest banks and 49 state attorneys general to establish standards for mortgage practices. Schneiderman claims that the banks have violated the agreement by not adhering to the prescribed timeline for processing mortgage modification applications. In this article, we will delve into the significance of this issue and explore how organizations like FRAUD STOPPERS can assist homeowners in such situations.

The Violations

Since October of last year, Attorney General Schneiderman has identified 339 violations committed by Wells Fargo and Bank of America, which pertain to the processing of mortgage modification applications. These violations directly contradict the National Mortgage Settlement, which aimed to provide homeowners with a fair and efficient process for modifying their mortgages and avoiding foreclosure. By disregarding these obligations, the banks have placed hundreds of New York homeowners at a heightened risk of losing their homes.

The Role of FRAUD STOPPERS

Amidst this alarming situation, organizations like FRAUD STOPPERS have emerged as valuable resources for homeowners facing mortgage-related challenges. FRAUD STOPPERS is a consumer advocacy group that specializes in providing assistance to individuals who have been victims of mortgage fraud, foreclosure fraud, and predatory lending practices.

FRAUD STOPPERS employs a team of experienced professionals who possess extensive knowledge of the mortgage industry and legal frameworks. They work tirelessly to help homeowners navigate complex mortgage situations and hold financial institutions accountable for any violations committed. By leveraging their expertise, FRAUD STOPPERS aids homeowners in understanding their rights, identifying potential fraud, and taking appropriate legal action to protect their homes.

How FRAUD STOPPERS Can Help

1. Legal Expertise: FRAUD STOPPERS offers access to legal professionals who specialize in mortgage and foreclosure defense. These experts can review the homeowner’s case, identify any legal violations, and provide guidance on potential legal recourse.

2. Forensic Loan Audits: FRAUD STOPPERS conducts thorough forensic loan audits to uncover any fraudulent or illegal practices that may have occurred during the origination or servicing of a mortgage. These audits can provide critical evidence to support the homeowner’s claims and strengthen their legal position.

3. Litigation Support: FRAUD STOPPERS assists homeowners in preparing and filing legal documents, representing them in court if necessary. They work closely with attorneys and legal teams to build a strong case and advocate for homeowners’ rights.

4. Education and Empowerment: FRAUD STOPPERS believes in empowering homeowners with knowledge about their rights and the mortgage industry. Through educational resources and workshops, they strive to equip homeowners with the tools they need to make informed decisions and protect themselves from fraudulent practices.

The decision by New York Attorney General Eric Schneiderman to sue Bank of America and Wells Fargo over their alleged violations of the National Mortgage Settlement highlights the importance of holding financial institutions accountable for their actions. In such instances, organizations like FRAUD STOPPERS play a crucial role in assisting homeowners facing mortgage-related challenges. By offering legal expertise, conducting forensic loan audits, providing litigation support, and promoting education, FRAUD STOPPERS aims to protect homeowners’ rights and combat mortgage fraud. As the legal proceedings unfold, it is essential for homeowners to seek assistance from reliable organizations like FRAUD STOPPERS to navigate these complex situations and secure their homes.

Now You Can Unlock the Power of Justice and the Rule of Law with FRAUD STOPPERS

Are you tired of being a victim of financial fraud, seeking the justice and legal remedy you deserve? Look no further – FRAUD STOPPERS is here to empower you with the comprehensive tools and support necessary for success. With a wide range of services tailored to your needs, we are your ultimate ally in the fight against fraud.

FRAUD STOPPERS Arsenal of Solutions includes but is not limited to:

Audits & Investigations: Our team of skilled professionals will meticulously analyze your case, leaving no stone unturned in uncovering the truth. We employ cutting-edge techniques and resources to expose the fraud and gather irrefutable evidence. We are the only organization (to our knowledge) that can provide you with a Full Level 4 Bloomberg Securitization Audit and all the loan level data and trust information for all Government Sponsored Loans (GSE’s) and loan placed in private trust (shipped off shores) that do not report to the Securities and Exchange Commission (SEC).

Expert Witness Affidavits & Testimony: Our network of esteemed experts will provide compelling affidavits and testify on your behalf, lending credibility and authority to your case. Their specialized knowledge and experience will strengthen your position in the legal battle.

Turnkey Litigation Packages: We understand that navigating the complex legal landscape can be overwhelming. That's why we offer comprehensive litigation packages, equipped with all the necessary documents and strategies to mount a strong defense against fraudsters.

Professional Paralegal Support: Our dedicated paralegals are committed to assisting you every step of the way. They will guide you through the process, offer invaluable insights, and provide crucial administrative support to ensure your case is well-prepared.

Nationwide Attorney Networks: We have established a vast network of highly skilled attorneys across the country who specialize in fraud cases. Rest assured, you will be connected with a trusted legal expert who is passionate about seeking justice on your behalf.

Legal Education and Training: At FRAUD STOPPERS, we believe that knowledge is power. That's why we provide comprehensive legal education and training resources, empowering you to understand your rights, navigate the legal system, and make informed decisions throughout your case.

Debt Settlement Negotiations: Our experienced negotiators will engage with creditors on your behalf, striving to reach favorable debt settlement agreements. We will advocate for your interests, aiming to alleviate the financial burden caused by fraud.

Private Lending: If you require financial assistance to support your legal battle, our private lending options can provide the necessary funding. Our trusted lending partners offer competitive rates and flexible terms, ensuring you have the resources to fight for justice.

And much more! Save Time, Money, and Increase Your Odds of Success with FRAUD STOPPERS' Proven Products and Programs

If you're serious about getting the legal remedy you deserve, FRAUD STOPPERS has everything you need to succeed while saving time, money, and increasing your odds of success. Our comprehensive range of proven products and programs is designed to streamline the process, maximize efficiency, and deliver results.

Time is of the essence when it comes to combating fraud, and we understand the importance of expediting your case. With our expertise and resources, we can minimize delays and ensure efficient progress. By leveraging our extensive experience in fraud investigations and legal strategies, you can navigate the complexities of the legal system with confidence, saving valuable time in the process.

We also recognize the financial burden that fraud can impose, and we are committed to providing cost-effective solutions. Our competitive rates for services, private lending options, and expert negotiation skills can help you save money while maximizing the value you receive. Rest assured that we strive to optimize your resources, enabling you to fight fraud without breaking the bank.

Partnering with FRAUD STOPPERS significantly increases your odds of success. Our proven track record and extensive network of experienced professionals ensure that you have the best possible resources at your disposal. From expert witness testimonies to strategic litigation packages and effective debt settlement negotiations, our carefully curated products and programs have a track record of achieving favorable outcomes. With FRAUD STOPPERS by your side, you can maximize your chances of holding fraudsters accountable and obtaining the justice you deserve.

By choosing FRAUD STOPPERS, you can save time, save money, and increase your odds of success. Our proven products and programs, combined with our commitment to your cause, empower you to reclaim your future. Take the first step towards justice by completing the form below.

Remember, with FRAUD STOPPERS, you have a trusted partner dedicated to saving you time, money, and increasing your chances of success. Let us fight by your side and help you put an end to fraud once and for all.

Our commitment to your success knows no bounds. We are constantly expanding our services and partnerships to provide you with the most effective tools in the fight against fraud.

Ready to get started?

Simply complete the form below to begin your journey towards justice. Once submitted, check your email inbox or email spam folder for detailed instructions on how to move your file forward.

Remember, you don't have to face fraud alone – FRAUD STOPPERS is here to champion your cause and bring you the justice you deserve.

Join us in the battle against fraud today!

Complete the form below and then after submission, check your email inbox or spam folder for detailed instructions on how to move your file forward to get the legal remedy you seek and deserve.

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