October 2014

Succesful Investments in Mortgage-Backed Securities

October 28, 2014 Lynn Szymoniak

Private investors risked several trillion dollars in the U.S. housing market from 2004 through the first quarter of 2007.  For the most part, investments in residential mortgage-backed securities had poor results. After the economic collapse of 2008, many segments of the economy recovered, but investors were and still are very wary of the U.S.… [Read More]

Ocwen Shares Drop in Response to Regulator Action

October 22, 2014 Mark Cullen

From Nathan Vardi at Forbes:

New York Department of Financial Services Superintendent Benjamin Lawsky’s letter to Ocwen Financial has clearly stunned Wall Street and caused shares of the big independent mortgage loan servicing company to fall sharply for a second straight day.

[Read More]

Letter to Regulators Regarding Ocwen

October 22, 2014 Lynn Szymoniak

Re: OCWEN EMPLOYEES SIGNING FOR LONG-DISSOLVED MORTGAGE  COMPANIES, AND OCWEN’S AFFIDAVITS REGARDING LOST MORTGAGE DOCUMENTS

Dear Superintendent Lawsky, Attorney General Schneiderman, Attorney General Bondi and Senator Warren:

I am Lynn E. Szymoniak, the Director of The Housing Justice Foundation and most recently known as the successful whistleblower who recovered a $95 million settlement for HUD from Bank of America, JPMorgan Chase, Citibank and Wells Fargo in 2012.… [Read More]