Maryland had highest rate of new foreclosure filings in U.S.

Steve Kilar, The Baltimore Sun The rate of new foreclosure filings in Maryland far exceeded any other state’s this spring, a spike caused in large part by the national robo-signing legal settlement that unleashed a flood of new cases. Almost 20 in every 1,000 home loans in Maryland — twice the national average — were […]

Maryland Appellate Decision Makes It Easier for Lenders To Foreclose

Saul Ewing LLP Summary An appellate court in Maryland recently handed down a decision that makes it easier for a creditor holding a promissory note, secured by a deed of trust and with gaps in its chain of title, to foreclose. Last week, the Court of Appeals of Maryland rejected a borrower in foreclosure’s argument […]

Ex-Loan Officer Says Wells Fargo Targeted Blacks With “Ghetto Loans”

Our Friend Beth Jacobson Was Profiled In The Washington Post Ylan Q. Mui, Washington Post For nearly a decade, Beth Jacobson lived inside the vast machinery of subprime mortgages that shook the nation’s economy. In sworn court testimony, she described watching loan officers comb through heavily African American areas such as Baltimore and Prince George’s County, forging relationships with […]

No Bidders For Pedophile Pediatrician’s Foreclosed Home

No Bidders for Earl Bradley’s Foreclosed Lewes Home Michael Lopardi, WBOC The former home of pedophile pediatrician Earl Bradley received no bids during a foreclosure auction Tuesday. Opening bids for the property on Savannah Road in Lewes started at $230,000. None of the roughly two dozen people in attendance raised their hands. The house was […]

Ghetto Loans

MFI-Miami Featured In BBC Doc About Wells Fargo Ghetto Loans

BBC Crew Travels Around Baltimore Researching Wells Fargo Ghetto Loans This is a piece the BBC broadcast two years ago. It tells the story of how Wells Fargo preyed on African-Americans in Baltimore. Wells Fargo sold them high cost “Ghetto Loans. Yet, Wells Fargo underwriters knew these homeowners could qualify for better programs. One of […]

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