© 2020 by Nordic Star Law. All rights reserved. No Attorney Client Relationship. 

Recent Posts

The knock came just four days after Steven Krueger got out of the hospital. He was recovering from back surgery in his home in Idaho Falls when sheriff's deputies arrived with a warrant to bring him to the courthouse.


Steve was in a back brace and wasn't supposed to travel, except to the doctor.

"I just kind of stood there stunned," says Mari Krueger, Steve's wife. "I was just horrified ... I was almost hysterical."

Mari wasn't stunned by Steve's arrest simply because of his condition. She was also shocked because he wasn't accused of committing a crime. What he...

As you may recall, after the 2008 market crash and recession I wrote a handful of Law Review columns strongly criticizing institutional lenders for dealing unfairly with their borrowers. I met with innocent homeowners, many who were talked into filing applications for loan modifications, only afterwards to be foreclosed on by the lender. Most lost their homes. The foreclosing lenders did just fine.

HOMEOWNER BILL OF RIGHTS

In 2012, California enacted the California Homeowner Bill of Rights to address what I candidly describe as abuse, even fraud, by institutional len...

More details revealed as allegations unfold of Stanford Hospitals unlawfully charging Northern California patients and falsifying their records. The case is captioned United States vs. Stanford et al. Case No. CV 17-08726-DSF (AFMx). It is a live case in the Central District Federal Court.

The Department of Justice also just filed in Federal Court a “Statement of Interest” in support of the false claims action (“FCA”) against Stanford Health Care (formerly Stanford Hospitals and Clinics).

The Complaint alleges that Stanford is a purported non-profit organization...

A California federal judge has certified a nationwide class of Wells Fargo mortgage borrowers who say the bank breached its contract by denying them home loan modifications, while excluding proposed subclasses of borrowers bringing consumer protection, wrongful foreclosure and emotional distress claims.

In partially granting the certification bid Wednesday, U.S. District Judge William Alsup approved a class definition that encompasses Wells Fargo mortgage borrowers who qualified for a home loan modification between 2010 and 2018 but were not offered it due to a soft...

Wells Fargo former Chairman and CEO John Stumpf has agreed to pay a fine of $17.5 million and accept a lifetime ban from the banking industry in a settlement the Office of the Comptroller of the Currency announced Thursday.

Two other former C-suite executives of the San Francisco bank also settled and were fined. Hope Hardison, Wells Fargo’s (NYSE: WFC) former chief administrative officer and director of corporate human resources, agreed to pay a fine of $2.25 million and a personal cease and desist order that requires her to refrain from certain conduct in the futu...

The California company that evicted a group of homeless mothers from a West Oakland, California, home this week is the force behind a sprawling national home-flipping operation. Through a related entity, the company, Wedgewood Properties, also benefited from a controversial government program to offload distressed, federally insured loans to investors.

Early Tuesday morning, sheriff’s deputies evicted the group Moms 4 Housing, who were occupying a foreclosed, investor-owned home in West Oakland. In November, the four women and their children moved into a home that h...

A former Fannie Mae employee will spend more than the next six years in prison after being found guilty of accepting more than a million dollars in bribes and kickbacks in exchange for selling Fannie Mae-owned foreclosures for less than market value.

Back in January 2018, Shirene Hernandez was charged with accepting bribes for steering foreclosures to certain brokers and even allegedly buying some foreclosures herself at below market value.

And nearly a year ago, Hernandez was found guilty of two wire fraud counts that involved the deprivation of honest services...

From Freddie Mac’s weekly survey: The 30-year, fixed-rate averaged 3.64%, eight big basis points lower than last week. The 15-year, fixed-rate averaged 3.07%, nine basis points down from last week.

The Mortgage Bankers Association reported a 1.5% decrease in loan application volume from two weeks earlier.

Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $510,400 loan, last year’s payment was $239 higher than this week’s payment of $2,332.

What I see: Locally, well-qualified borrowers can get the following fixed-rate mortgages withou...

November held some of the lowest foreclosure stats in a decade, according to Black Knight. Black Knight’s First Look at November 2019 foreclosure data revealed that November’s 33,500 foreclosure starts represented a 26% year-over-year decline, alongside the lowest monthly volume since 2000.

Additionally, the national foreclosure rate fell by 3% month-over-month. While delinquencies rose seasonally, delinquency levels are still nearly 5% below last year’s level. Prepayment activity fell 19% from October’s six-year high due to both seasonal declines in home-sale-relat...

The Fifth Circuit has stood by its decision to uphold receiver settlements resolving Stanford Ponzi scheme-related claims against two insurance brokers for a combined $133 million, a ruling that objectors argued contradicted an earlier rejection of a $65 million deal with a group of insurance underwriters.  

In opinions issued Thursday, a three-judge panel of the appeals court reached the same conclusion as it did in July to affirm the approvals of the two global settlements, which require Bowen Miclette & Britt Inc. and Willis to pay $12.85 million and $120 million...

State regulators on Thursday pulled the emergency brake on insurers fleeing California’s fire zones.

Insurance Commissioner Ricardo Lara announced a one-year moratorium banning insurers from not renewing policies for homeowners in wildfire-ravaged areas of the state.

“I have heard the same story again and again. People getting dropped by their insurance after decades,” Lara said. “To add insult to injury, many struggle to find coverage.”

As fires have grown increasingly destructive, the state has seen a corresponding exodus of insurers from the hardest-hit areas. More...

Please reload

Please reload

Archive