In addition to dropping MERS today, JP Morgan Chase had an earnings call at which Jamie Dimon was asked questions about JPMC’s foreclosure fraud. Calculated Risk has a transcription (both the AP and WSJ attribute these comments to Dimon, though CFO Douglas Braunstein made comments about the foreclosure fraud as well). But I just wanted [...]

This is just an observation. As of current reporting, Alabama’s Attorney General Troy King is the only state AG not to join in the joint investigation of foreclosure fraud. Even Michigan AG Mike Cox, whose spokesperson said investigating foreclosure fraud would amount to “politicizing the struggles of Michigan families,” has joined the investigation. I find [...]

When I asked yesterday about the relationship between the stress tests and the servicers’ foreclosure fraud, I had a hunch that the banksters might have been committing that fraud so as to be able to show financial viability so as to be able to repay TARP funds so as to escape the oversight of the [...]

What a load of crap: Charlie Rose: You’re encouraging banks to declare a moratorium on foreclosures? Tim Geithner: No, I wouldn’t say it that way. I think that you know what you’re seeing in housing still now is a national tragedy, still very, very difficult. You know, again, this was a crisis caused by a [...]

John Cole asks a bunch of questions about what a foreclosure moratorium would accomplish. I just don’t understand what good would come from a national moratorium. Forty state AG’s are on the ball, what exactly could a national moratorium do? The idea is to stop the bad foreclosures, not grind every single transaction in this [...]

By wildly overreaching her injunctive authority, Judge Virginia Phillips has given the Obama White House/Executive Branch legitimate and compelling grounds to appeal that are separate from the critical merits issue of the constitutionality and propriety of DADT, which is a discriminatory and loathsome policy and should be terminated immediately.

The other day, I noted that Administration claims that they were helpless to affect what they now depict as loan servicers’ “sloppiness” but what really amounts to fraud ignores their decision to stop pushing for cramdown–and with it, leverage over the loan servicers. I think (though I’m less sure of this) they’re ignoring one other [...]

When Ibrahim al-Qosi agreed to a plea deal with the government, the original deal was that he’d spend a secret two year sentence (rather than the 14 year sentence announced to the public) in communal quarters. At the last minute, the judge in the case learned there’s no way to do that at Gitmo, though [...]

The Federal Housing Administration Commissioner, David Stevens, has joined David Axelrod in stating that the Administration sees no reason to halt all foreclosures. That’s not a surprise in itself–it was pretty clear that Axe’s statement reflected official Administration policy. But I’m particularly interested in how Stevens justified this position in an email sent to the [...]

According to this story, the Administration (in the voice of David Axelrod) sees no need to halt foreclosures while the authorities sort out the mess caused by the fraud committed by loan servicers. “It is a serious problem,” said David Axelrod, who contended that the flawed paperwork is hurting the nation’s housing market as well [...]