Archive for the ‘BREAKING NEWS!’ Category

Foreclosure Defense 101 Lesson 3: Don’t Argue the Legitimacy of Robo-Notaries

Wednesday, July 28th, 2010

Steve Dibert, MFI-Miami What are Robo-Notaries?  Robo-Notaries are usually local title agencies getting paid by Depositors and Trustees to act on their behalf.  Robo-Notaries came to the forefront of the foreclosure debate last year when Judge Schack questioned their legitimacy because the Notaries often signed for more than one Trustee or ...

2010 Bank Failures Exceed 100, $17.2B in FDIC Cost

Monday, July 26th, 2010

The ink was barely dry on our last post with the full tally, when another 7 bit the dust, pushing the total expected FDIC expense almost another half billion, breaching the $17B level. Also, the individual failures have exceeded 100, now reaching 103. The updated list is below:

2010 Bank Failures Add Up To Nearly $17B FDIC Hit

Thursday, July 22nd, 2010

Boy, it really starts to add up, doesn't it? This makes quick work of almost half of the FDIC's $40B pre-payment trick. What next? Note also that these failures are far from completely "resolved", and that the below FDIC costs are just preliminary estimates --  the ultimate losses ...

Is Bank of America Hiding an Insolvency Problem From The Public?

Wednesday, July 21st, 2010

Steve Dibert, MFI-Miami The cool thing about owning a company like MFI-Miami is that I get to chat on and off the record with a lot of media types with the inside scoop on what is going on in the financial world.  These conversations tend to link a lot of missing ...

BofA and Fannie Mae Illegally Foreclose on Michigan Cancer Victim

Tuesday, June 29th, 2010

Steve Dibert MFI-Miami I don’t usually blog about pending investigations involving my clients because it could jeopardize any potential litigation that they may file against the servicer or trustee.  However, with this client I’m making an exception because she has been diagnosed with Small Cell Carcinoma and has only been given ...

Wake Up! Mortgage Industry Lynch Mobs Are a Tool of the Banking Industry

Saturday, June 12th, 2010

Steve Dibert, MFI-Miami “We’ve lost something vital, I tell you. When we lost it, we lost the ability to make good decisions. We fall upon decisions these days the way we fall upon an enemy — or wait and wait, which is a form of giving up, and we allow the ...

A Return to California Über Alles?

Sunday, May 23rd, 2010

Steve Dibert, MFI-Miami Many of you youngsters weren’t around to remember the punk movement of the late 1970s and early 1980s which brought great artists like the Sex Pistols, The Ramones, and the Dead Kennedys.   So, please indulge me while I reminisce about the music that made me the sarcastic and ...

Are Friends of Angelo Still Receiving Perks From Bank of America?

Wednesday, May 12th, 2010

Steve Dibert, MFI-Miami While driving to Miami last week, I began receiving phone calls from homeowners telling me they were receiving calls from Bank of America trying to convince them to modify their loan. At first, I thought nothing of it until multiple homeowners began telling me the same thing.   They had ...

Wall Street says “Hey, Main Street we’re taking your jobs!”

Friday, April 30th, 2010

Steve Dibert, MFI-Miami One of my contacts on Wall Street sent me a copy of this email that has been floating around.  If anyone knows who this person is, let me know I want to hire them as a writer for this site.  I like their “in your face” style! “We are ...

The Real Reason Banks Won’t Modify Your Loan and It Involves Grandma’s Pension

Sunday, April 18th, 2010

Steve Dibert, MFI-Miami I began working on this project last year at the peak of the modification frenzy and finished it about a month ago.  I originally planned on posting it last week on the eve of the Mortgage Servicers Convention in Dallas.  I decided hold off because I didn’t want ...