Chase Home Finance Sucks
Chase Home Finance LLC Sucks

Filed this week in U.S. District Court for the Southern District of Florida, Ignacio Damian Figueroa vs. Merscorp, Inc., Law Offices of David J. Stern, PA, and David J. Stern, individually, is a class action suit on behalf of people who have lost their homes in mortgage foreclosures where MERS and Stern’s office were involved. The Complaint is thoroughly researched and well written. It asks for triple damages, costs and attorney fees under the “Racketeer Influenced and Corrupt Organizations Act,” also known as the RICO Act.

The suit says that Mortgage Electronic Registration System, Inc.,or “MERS,” is a racketeering enterprise. It charges that Stern, along with his law firm and related companies conspired with MERSCORP to deprive homeowners of their property illegally through fraud. The homeowner’s attorney in this case is Kenneth Eric Trent in Fort Lauderdale.

WASHINGTON — Federal agencies issued final rules today requiring residential mortgage loan originators who are employees of national and state banks, savings associations, Farm Credit System institutions, credit unions, and certain of their subsidiaries (agency-regulated institutions) to meet the registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). The final rules are being issued by the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of Thrift Supervision, Farm Credit Administration, and National Credit Union Administration (the agencies).

The S.A.F.E. Act requires residential mortgage loan originators who are employees of agency-regulated institutions to be registered with the Nationwide Mortgage Licensing System and Registry (registry). The registry is a database created by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators to support the licensing of mortgage loan originators by the states. As part of this registration process, residential mortgage loan originators must furnish to the registry information and fingerprints for background checks. The S.A.F.E. Act generally prohibits employees of agency-regulated institutions from originating residential mortgage loans unless they register with the registry.

The agencies’ final rules establish the registration requirements for residential mortgage loan originators employed by agency-regulated institutions and requirements for these institutions, including the adoption of policies and procedures to ensure compliance with the S.A.F.E. Act and final rules. As required by the S.A.F.E. Act, the final rules also require that each residential mortgage loan originator obtain a unique identifier through the registry that will remain with that residential mortgage loan originator, regardless of changes in employment. This will enable consumers to easily access employment and other background information about registered mortgage loan originators from the registry. Under the final rules, registered mortgage loan originators and agency-regulated institutions must provide these unique identifiers to consumers.

The final rules take effect on October 1, 2010. The agencies anticipate that the registry could begin accepting federal registrations as early as January 28, 2011. Employees of agency-regulated institutions must not register until the agencies instruct them to do so. The agencies will provide an advance announcement of the date when the registry will begin accepting federal registrations, and agency-regulated institutions and their applicable employees will have 180 days from that date to comply with the initial registration requirements.

The final rules appear in today’s Federal Register.

28th July 2010 09:36:15
Washington, District Of Columbia, United States
Federal Reserve Board (132.200.32.34) [Label IP Address]

chasehomefinancesucks.com/2010/07/22/jpmorgan-chase-co-plans-d-c-mortgage-counseling-event/

First branches open in Kern, San Diego, Riverside, Orange and Los Angeles Counties
LOS ANGELES, July 28, 2010 – Chase announced today it will open new full-service bank branches in 22 Albertsons stores in Southern and Central California this year. The first branches are now open in Kern, San Diego, Riverside, Orange and Los Angeles Counties as Chase expands to more than 800 branches in the state by yearend.
“These new locations reaffirm our commitment to make Chase even more convenient for our customers, especially when they can get their shopping and banking done in one stop,” said Pablo Sanchez, Chase’s region executive. “It’s exciting to partner with Albertsons, which have earned the business of so many consumers.”
Branch bankers will offer customers a full range of services from checking and savings accounts to mortgages, business loans and investments from 9 a.m. to 7 p.m. weekdays and 9 a.m. to 4 p.m. Saturdays. Each participating Albertsons branch also will include a Chase ATM to provide additional hours of service.
Chase to hire 200 employees
Chase plans to hire about 200 employees to provide personal banking, loans and financial advice to customers of the 22 new branches in Los Angeles, San Diego, Riverside, San Bernardino, Ventura and Kern counties.
Chase serves customers through 330 supermarket branches in Arizona, Colorado, Louisiana, Idaho, Illinois, Oregon, Texas and Washington.
Media Contact:
Gary Kishner
818-775-3670 / Gary.Kishner@chase.com

Case# 01139049
Come on O.C.C case after case and nothing is done to the large banks. We are the tax paying Americans that have no rights when it comes to large banks. When do we have a Federal Government that fights for our rights.

PITTSBURG, CA (KGO) — A Bay Area man facing foreclosure is spreading a message of inspiration to others in the same situation.

Jose Vega of Pittsburg has seen the foreclosure crisis up close from three different perspectives. He gave 7 On Your Side a unique glimpse on the personal toll the housing meltdown is taking.

Vega is a Bay Area realtor. He first saw the foreclosure crisis through the eyes of his clients and then his children. One day he found his daughter crying.

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“She says you know, I have no friends, they’re all moving away,” he says.

Many of his children’s friends were moving away in the middle of the night, their parents so embarrassed by foreclosure they could not bear to say goodbye.

“I remember very specifically Nestor… I’m sorry,” Vega recalled as he started to cry. “He came to play with my kids one day and he was very sad. He wasn’t talking a whole lot and I didn’t know, I thought he got in trouble at his house. That’s the last time we saw him.”

Vega now finds himself having to prepare his 6-year-old and 9-year-old children to losing their house in Pittsburg. He himself has been turned down by JP Morgan Chase three different times for a loan modification because they say he did not meet income guidelines. Once, he even received an offer for a modification and on the same day he received a letter of denial.

7 On Your Side first met Vega at a meeting in San Jose with the chief of President Obama’s “Making Home Affordable Program.”

“It seems to me, this is all about the bank’s best interest and not ours,” Vega says.

Vega knows the odds of keeping his home are long and he is prepared for the worst.

“When you lose your home, you lose your dreams,” he says.

He now has channeled his energy into helping others. He is a volunteer leader in the Contra Costa Interfaith Supporting Community Organization (CCISCO). Vega joined CCISCO at demonstrations and even represented the group at a JP Morgan Chase shareholders meeting.

Alan Fisher at the California Reinvestment Coalition was with Vega at that meeting.

“What impressed me is he’s someone with principles who’s concerned not only about himself, but angry at what happened to him, but not just angry for himself, but for people in his neighborhood and people in his church,” he told 7 On Your Side.

Chase CEO Jamie Diamond agreed at that meeting to send Chase executives to meet with CCISCO, but the bank has since cancelled the meeting. Vega says he no longer fears losing his home because he says they can take his house, but not his home.

“See, that’s different. That’s mine. I make my home. My wife and my children and me together make a home. They can’t take that from us,” he says.

Chase declined an opportunity to comment on why it cancelled the meeting, but it did say it offered Vega a loan modification that would have lowered his principal and interest rate. Vega said he turned down that offer because the savings were insignificant.

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