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Monthly Archives: October 2010

Wells Fargo to Refile 55,000 Foreclosure Cases

Published on October 28, 2010 by Robert A. Kraft

The AP (10/27) reports Wells Fargo “admitted Wednesday it made mistakes in the paperwork for thousands of foreclosure cases and promised to fix them.” The “San Francisco-based bank said it plans to refile documents in 55,000 of the cases by mid-November. The company said not all those cases included errors but didn’t say how many [...]

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Mortgage Relief Effort Has Fallen Woefully Short

Published on October 26, 2010 by Robert A. Kraft

The CBS Evening News reported that the Administration’s “foreclosure prevention plan was labeled a failure today by a government watchdog. Of the 1.3 million people the Treasury claims to have helped, the Inspector General of TARP said fewer than half have actually received permanent loan modifications.”
Politico (10/26, Aujla) also reports that a report from TARP [...]

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White House Reiterates Opposition to Foreclosure Moratorium

Published on October 13, 2010 by Robert A. Kraft

USA Today (10/13, Armour) reports that yesterday, the Administration “rejected calls for a nationwide moratorium on foreclosures because of concerns it could cause broader harm to the housing recovery” although “a freeze on foreclosures is still widening.” White House press secretary Robert Gibbs “did say the White House supports a multi-state investigation into foreclosures and [...]

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Obama Administration Doesn’t See Need for Blanket Foreclosure Moratorium

Published on October 12, 2010 by Robert A. Kraft

The New York Times (10/12, B1, Appelbaum) reports that the “swelling outcry over fast-and-loose foreclosures has thrust the Obama administration back into the uncomfortable position of sheltering the banking industry from the demands of an angry public.” While “senior Congressional Democrats join the calls for a national moratorium on foreclosures,” the White House “once again [...]

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Lawmakers Call for Investigation of Foreclosure Errors

Published on October 6, 2010 by Robert A. Kraft

The AP (10/6, Zibel) reports that on Tuesday, House Speaker Nancy Pelosi and more than 30 other Democratic lawmakers from California “urged bank regulators and the Justice Department to probe whether mortgage companies violated any laws in handling foreclosures and borrowers’ requests for loan assistance.” The lawmakers sent the letter to Attorney General Eric Holder, [...]

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