UC-Irvine Law Professor Katherine Porter
California homeowners have a new watchdog for the recent multi-state foreclosure settlement. State Attorney General Kamala Harris named UC Irvine law professor Katherine Porter to the post today.
She will oversee the promises that five major banks made in their $25 billion settlement of investigations into various foreclosure abuses.
Porter says banks are currently working on ways to contact homeowners, as part of the settlement plan. “I think a big aspect of the settlement, and what the Attorney General of California was trying to accomplish here, is improving practices and procedures so that consumers don’t encounter so many stumbling blocks along the way to getting help,” Porter said.
Porter is a former student of Elizabeth Warren, who helped create the new Consumer Financial Protection Bureau and is now running for U.S. Senate. Porter led a 2007 study that uncovered abusive foreclosure practices like “robo-signing” that led to this national mortgage settlement.
Ok well thats not such a great start Professor,"Stumbling Blocks"thats so diplomatic so we will let it slid today.Why not tell the truth your going to call out the bank for FRAUD,FORGERY,THEFT,Crimes on land recording,land and title issues, and on and on and see that the monies from said settlement goes to the people.That should be interesting it is title BAILOUT 2 commin to your hood.Stumbling blocks thats funny.Good luck professori your gonna need it.
We are hopeful that this will be the right step into helping those of us homeowners who have refused to give up our homes or credit ratings due to pressure by loan servers like Countrywide and B of A…..our original loan was taken over by Countrywide who did everything to force us into default…our payments were on time but post payments at the end of the month to show on paper we were consistantly late and then lost our paperwork with notification from our bank that checks were processed prior to due dates…loan then was bought by B of A and they have fought us with the issue that they couldn’t find our file or original loan documents…sorry state of affairs…we didn’t give up so B of A agreed to freeze our interest rate until 2014…
I will continue to stay in contact and post all responses to our inquires and pass on this site to others in our situation…
It is the specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g., in science, to gain prestige rather than immediate monetary gain.
Justice is a concept of moral rightness based on ethics, rationality, law, natural law, religion, or equity. It is also the act of being just and/or fair