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497 Hooksett Rd. #105
 Manchester, NH 03104 
Phone: (603) 685 4301

In the News

California Gov. Unlawfully Diverted $331M from Mortgage Settlement: Judge

California Gov. Jerry Brown violated state law by diverting more than $331 million in mortgage settlement funds for uses unrelated to housing, a Superior Court judge ruled.

The judge's decision was a victory for organizations representing blacks, Latinos and Asian Americans, whichsuedthe Democratic governor in March 2014. While Judge Timothy Frawley stopped short of ordering that the housing funds be restored, he did rule that Brown and the state legislature are obligated to replenish the diverted money.

With California now holding a state budget surplus, the plaintiffs expressed optimism that officials will soon set aside funds to aid troubled homeowners. The plaintiffs hope to meet soon with key state officials who are currently in the midst of budget negotiations to work out an agreement.

"The Legislature, both Republicans and Democrats, are committed to homeowners in distress, as is the governor," Jesse Miranda, former chair of a Hispanic Christian group that was one of the plaintiffs, said Monday in a news release.

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Oversight of Mortgage Servicers Increased in Hawaii

A fast-growing segment of the mortgage industry engaged in foreclosures is subject to new regulatory oversight in Hawaii under a state law enacted last week by Gov. David Ige.

The governor signed Senate Bill 1093, which increases state regulation of mortgage servicers.

Mortgage servicers are companies that handle management aspects of home loans, including processing payments and dealing with defaults. Servicers can be banks and other lenders that own loans, as well as firms contracted by loan owners.

Practices by loan servicing firms that aren't part of the more stringently regulated banking industry have attracted heightened concern as nonbank mortgage servicing has dramatically grown in recent years.

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JPMorgan Partly Escapes WaMu Takeover Mortgage Liabilities

JPMorgan Chase & Co. won a round in a long- running dispute with the Federal Deposit Insurance Corp., avoiding some of the liabilities tied to its 2008 takeover of Washington Mutual Inc.'s banking operations.

A federal judge ruled in a lawsuit over more than $6 billion in securities backed by flawed WaMu mortgages that JPMorgan wasn't responsible for damages beyond those on the failed bank's books at the time. JPMorgan argued its liabilities were limited under its 2008 purchase agreement with the FDIC and the regulator should pay for any damages owed in the case.

U.S. District Judge Rosemary Collyer in Washington issued the two-page order Wednesday in the lawsuit filed in 2009 by Deutsche Bank, which was the mortgage-bond trustee.

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Waters, Warren Lead Call for Hearings over Banks’ Efforts to Secure DOL Waivers

Leading Democratic Lawmakers Raise Concerns over Banks’ Efforts to Secure DOL Waivers

Waters, Warren lead coalition of Democrats calling for hearings

WASHINGTON, D.C. - In the wake of five megabanks pleading guilty to felony charges, a number of prominent Democratic lawmakers are calling on the Department of Labor (DOL) to carefully consider whether to waive sanctions that would be automatically imposed on these institutions stemming from their guilty pleas. The lawmakers today called on DOL to hold a public hearing on any waivers requested by the banks, to promote transparency in DOL’s decision-making.

The request was made in a letter to Labor Secretary Thomas Perez, led by Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, along with Senator Elizabeth Warren (D-MA), Education and Labor Committee Ranking Member Bobby Scott (D-VA), Oversight and Investigations Committee Ranking Member Elijah Cummings (D-MD) Small Business Committee Ranking Member Nydia Velázquez (D-NY), and Reps. Michael Capuano (D-MA), Ruben Hinojosa (D-TX), Stephen Lynch (D-MA), Keith Ellison (D-MN), Jan Schakowsky (D-IL), Al Green (D-TX) and Raúl Grijalva (D-AZ).

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Company Contact

Stellionata Consulting, LLC

497 Hooksett Rd. #105

Manchester, NH 03104

Phone: (603) 685 4301

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Chain of Title

A few years ago, there was a lot of media hype about "producing the original note." There was almost equal response from the mortgage/foreclosure industry that the original note wasn't important and that reasonable facsimiles that were attested to as being "true and accurate copies of the original" were/are good enough to demonstrate that the current "bearer" of the copy is the rightful note holder and, therefore, has title and interest in the promissory note and has legal standing to foreclose.

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