Consolidated Listing of All Cease and Desist Consent Orders Issued on April 13, 2011

Consolidated Listing of All Cease and Desist Consent Orders Issued on April 13, 2011

By Daniel Edstrom
DTC Systems, Inc.

Due to the volume of requests, here is a listing of all known Cease and Desist Consent Orders issued in April 2011 in regards to the Interagency Review of Foreclosure Policies and Practices.

Interagency Review of Foreclosure Policies and Practices

Cease and Desist Consent Orders Department of Treasury: Office of the Comptroller of the Currency OTS Board of Governers for the Federal Reserve System FDIC FHFA
Bank of America x        
Citibank x        
HSBC x        
JPMorgan Chase Bank x        
US Bank x        
PNC Bank x        
MetLife Bank x        
Wells Fargo Bank x        
Aurora Bank   x      
EverBank   x      
EverBank Financial Corp   x      
IMB HoldCo LLC   x      
OneWest Bank   x      
Sovereign Bank   x      
MERSCORP and MERS x x x x x
LPS Default and DocX x x x x  
SunTrust     x    
Ally Bank / Ally Financial / Residential Capital / GMAC Mortgage     x x  

Author: dmedstrom

Reverse Engineering and Failure Analysis - Reverse Engineering Wall Street

6 thoughts on “Consolidated Listing of All Cease and Desist Consent Orders Issued on April 13, 2011”

  1. If the Attorney Generals of Ohio and Texas are going after AHMSI ,which are regulated by the Federal Reserve, why are they not shown?

  2. Thanks for your work. However, I would like to know the reason Deutsche is not among those listed. Thank you in advance.

    1. This was an Interagency review of foreclosure policies and practices- of the servicers, and not the trustee’s. Deutsche is acting as a Trustee and not a servicer.

      I don’t necessarily agree, but the target was the servicers and their handling.

  3. Dan, I appreciate your site, it is very informative. I am involved in a foreclosure with Wells Fargo regarding a World Savings original mortgage. I am reasonably sure that my loan is in REMIC 28 (private placement) based on my research of this particular CMO which closed in 2/2007. I have access to a Bloomberg terminal at work. I studied REMIC 28 on the terminal however I did not have time to navigate enough to locate any info on loan level files. Can I find loan level files on Bloomberg? Why is it important that I locate the loan files – is it to evidence that my loan was securitized and show that Wells is merely a servicer?

    Thanks in advance Dan!


    1. Jack,
      No loan level files are available through Bloomberg for World Savings Loans and it says as much when you try to look for them as you would for public securitizations. The loan level files usually confirm which trust they attempted to securitize your loan into. Because these were the worst of all predatory loans, it is my opinion that World Savings never intended to hold them as assets. But you have to convince a judge to get discovery, which means you need a very good attorney.

  4. Dan, thank you for the timely response regarding loan level files. If in fact I acquire the loan level files and can confirm that my mortgage is in REMIC 28, how important is that to my case?

    Also Dan, has Wells Fargo had to repurchase any of these non performing mortgages back from the trust at Bank of New York? If Wells did repurchase bad loans, how does that work mechanically speaking, does the loan get cleaved off of the REMIC or does Wells pay off the trustee with a one time payment or just take over the non performing loan payments to the trustee until the dust settles?

    If Wells does repurchase the non performing loan, do they now own the mortgage again giving them more leverage in foreclosure or is the mortgage left in the REMIC under the trustee in any event?

    I am also under the impression that the mortgages inside the REMIC are insured Dan, is that true?

    Thanks for your time Dan,


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