TO ALL ECF USERS:
The Court will be performing network maintenance on Monday, April 8, and Tuesday, April 9, 2013 between 6:30 PM. and 8:00 PM. As a result, the following electronic systems will not be available:
CM/ECF Live System
CM/ECF training (not available to complete homework assignment)
LOU
We apologize for any inconvenience this may cause.
ECF Help Desk
(213) 894-2365
The U.S. Trustee Program last month said it has “indefinitely suspended” the debtor auditing process “due to budgetary constraints,” the Wall Street Journal reported yesterday. The Bankruptcy Code amendments of 2005 authorized U.S. trustees to randomly designate for audit one out of every 250 consumer bankruptcy cases per federal judicial district. The Code also authorized audits of any cases in which debtors posted statistically unusual income or expenditures. Trustees select the cases but do not perform the audits; instead, that job falls to independent accountants. The 2007 fiscal year saw random audits of “at least one out of every 250 consumer cases” per judicial district, according to a USTP report. But the following three fiscal years saw that rate reduced to one out every 1,000 consumer cases per district due to “budgetary constraints.” The auditing rate was reduced even further in the 2011 fiscal year to one out of every 1,700 cases, but the audits were suspended for the last few months of that year and through the first three months of the 2012 fiscal year. While USTP resumed random audits between January and October 2012, it did so for one out of every 1,450 consumer case per district.
M. Erik Clark
<http://blclaw.com/>
100 N. Barranca Avenue, Suite 250
West Covina, CA 91791
www.blclaw.com <http://www.blclaw.com/>
Office: (626) 332-8600
Fax: (626) 332-8644
Board Certified in Consumer Bankruptcy
American Board of Certification
Brown Bag Seminar for Bankruptcy Attorneys
This Friday, April 5, 2013
1:30 pm
725 S. Figueroa Street
Room 103
Los Angeles, CA 90017
*Only 10 Slots Left
R.S.V.P. gmangum@latrustee.com
Speakers
Aki Koyama, Senior Staff Attorney
Office of the Chapter 13 Trustee, Kathy A. Dockery
*****
Cliff Bordeaux, Bankruptcy Attorney
Bordeaux Law, P.C.
****
Lee S. Raphael, Managing Partner
Prober and Raphael
The Department of Corporations is pleased to participate in this great event “Help For Homeowners Event.” It is hosted by the Departments of the Treasury & Housing and Urban Development on April 16 at the Los Angeles Convention Center to help distressed homeowners. We encourage you to share the attached flier (in English and Spanish) with your colleagues and clients who may need this assistance. I will be there and hope to see you.
At the event consumers will have the opportunity to meet directly with their servicer, the Government Sponsored Enterprises (GSEs), housing counselors, and other resources that would be extremely helpful. They also have a short sale workshop for real estate professionals to hear from Treasury, the large servicers, and GSEs about specific short sale policies and procedures.
I have attached flyers of the event in English and Spanish.
Best,
Maggie
Magdalena Reyes Bordeaux
Supervising Attorney
Public Counsel
Consumer Law Project &
Debtor Assistance Project
Effective on May 1, 2013, a fee of $25.00 will be charged for each transfer of claim. See more at http://go.usa.gov/2e84
Help for Homeowners Event
Tuesday, April 16, 2013 | 1:00 p.m. – 8:00 p.m.
Los Angeles Convention Center
1201 South Figueroa Street (Entrances at 11th Street and Pico)
Los Angeles, CA 90015
Are you struggling to make your mortgage payments?
Maybe you’re unemployed or earning less than before? Do you need to leave your home through a short sale or deed-in-lieu of foreclosure? Having trouble refinancing? Meet one-on-one with your mortgage company or a HUD-approved housing expert.
The Department of Corporations is pleased to participate in this great event “Help For Homeowners Event.” It is hosted by the Departments of the Treasury & Housing and Urban Development on April 16 at the Los Angeles Convention Center to help distressed homeowners. We encourage you to share the attached flier (in English and Spanish) with your colleagues and clients who may need this assistance. I will be there and hope to see you.
At the event consumers will have the opportunity to meet directly with their servicer, the Government Sponsored Enterprises (GSEs), housing counselors, and other resources that would be extremely helpful. They also have a short sale workshop for real estate professionals to hear from Treasury, the large servicers, and GSEs about specific short sale policies and procedures.
Complimentary daily parking in West Hall garage – Entrance off of 11th Street and LA Live Way Metro accessible via the Pico Metro stop (Pico & FLower) – one block from the Center.
Click on the Help Homeowners Flyer for more information!
ATTENTION CM/ECF USERS:
In preparation for a major upgrade of the Court’s CM/ECF system later in the month, the Court will be upgrading its CM/ECF Training database on Saturday, April 6, 2013. As a result, the following electronic systems will not be available:
Saturday, April 6, 2013, from 8:00 A.M. to 1:00 P.M.:
CM/ECF Live
LOU
PACER
VCIS
Saturday, April 6, 2013 at 8:00 A.M. thru Wednesday, April 10, 2013: CM/ECF Training will not be available for those currently completing CM/ECF training-related homework.
We apologize for any inconvenience this may cause. If you need assistance in using the updated version of the CM/ECF Training database, please contact the ECF Help Desk at (213) 894-2365.
Regards,
ECF Help Desk
(213) 894-2365
Public Service Announcement — FOR IMMEDIATE RELEASE — March 18, 2013
$9.3 Billion in Payments and Foreclosure Assistance to Begin in April 2013
On March 18, 2013, more than 4.2 million people were sent postcard notices about payments they will receive as a result of an agreement between federal banking regulators and 13 mortgage servicers. As a result of this agreement, the Independent Foreclosure Review ceased at those servicers. A full list of companies and their affiliates or subsidiaries covered by the agreement are listed below.
The agreement provides $3.6 billion in cash payments to borrowers covered by the agreement. Borrowers covered by the agreement include those whose primary residences were in any stage of the foreclosure process in 2009 or 2010 and whose mortgages were serviced by one of the participating servicers.
Payments are expected to range from a few hundred dollars to $125,000. By accepting the payment, borrowers do not waive any legal claims against their servicer and may pursue additional actions related to their foreclosure.
In most cases, a letter with an enclosed check sent by the Paying Agent—Rust Consulting, Inc.—will arrive in 4 to 8 weeks. Some borrowers may receive a letter from Rust requesting additional tax-related information that will be needed to process their payment. Correspondence will be sent at the direction of the Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve.The federal banking regulators will provide more details about the payments in early April.
To verify that you are covered by the agreement or to update contact information, call Rust Consulting at 1-888-952-9105. Information provided to Rust will only be used for purposes relating to the agreement.
By ALAN ZIBEL And LESLIE SCISM
Wall Street Journal
WASHINGTON—A U.S. housing regulator is cracking down on a little-known practice that has hit millions of struggling borrowers with high-price homeowners’ insurance policies arranged by banks that benefit from the costly coverage.
The Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae FNMA -6.63% and Freddie Mac, FMCC -7.63% plans to file a notice Tuesday to ban lucrative fees and commissions paid by insurers to banks on so-called force-placed insurance.
Such “forced” policies are imposed on homeowners whose standard property coverage lapses, typically because the borrower stops making payments. Critics say the fee system has given banks a financial incentive to arrange more expensive homeowners’ policies than necessary.
Banning the fees and commissions could help lower the price of the insurance policies. The housing agency’s move would apply nationwide to all mortgages guaranteed or owned by Fannie and Freddie—about half of the housing market.
1. Members may register online by logging into www.NACBA.org with user name and password.
2. Non-members who register online will be prompted to create a New Visitor profile before proceeding to the Store to purchase a Convention registration.
3. Group Registration or Registration of Non-Attorney Staff: If you wish to register multiple firm attendees or to register non-attorney staff, you must submit the registration forms (one for each attendee) by mail or fax.
4. If you are purchasing Meal Tickets FOR YOUR GUESTS and/or tickets to the Bay Cruise or Baseball Game during the online registration process, you will be able to update the quantity that you wish to purchase in your shopping cart at Checkout, before finalizing your purchase.
5. The Early Bird Discount ends Friday, March 15, 2013.
6. The Registration fee includes:
• Written Convention materials;
• An app for your iPad, tablet or smartphone containing written convention materials and additional materials;
• A link to download the materials online to your computer;
• Breakfast Friday, Saturday and Sunday, the Keynote luncheon on Friday, lunch on Saturday for Members only, and the Friday evening Reception.
Convention attendees do not need to purchase a meal ticket.
7. Attendees of NACBA’s 2013 Capitol Hill Meeting (Feb. 26-27, 2013) will receive a $100 discount on their Convention registration.
8. Each attendee will receive a compliementary copy of Recent Developments in Chapter 13 by Hon. Keith Lundin, Hon. William H. Brown and Henry Hilebrand and a complimentary e-book download of the 2013 Collier Pamphlet, containing the full text of the Bankruptcy Code and the Federal Rules Bankruptcy Procedure.
9. Roundtable Discussions are scheduled concurrently with other sessions and give attendees the opportunity in a small group setting to delve deeper into selected topics. They are available to NACBA members only and will be filled on a first-come, first-seated basis.
10. The Open Forums: Your opportunity to as questions on cases, business and advocacy efforts. CLE may not be available for Open Forums.
11. Refund policy
• Meal Tickets are N0N-REFUNDABLE, and should be purchased for
Guests only.
• Attendees do not need to purchase Meal Tickets; meals are covered by
tuition.
• Cancellations received:
o On or before 5 pm PST Friday, March 29, 2013: 100%
o On or before 5 pm PST on Friday, April 12, 2013: 50% + materials
o After April 12, 2013: Program materials only
Cancellation/refund requests must be received in an email to: admin@NACBA.org
12. If Non-Attorney support staff attends without a NACBA member attorney, Non-Member Pricing is in effect.
13. Guest Meal Pass Information
Guests who purchase a guest meal ticket will receive a name badge that is required in order to enter Convention meal events. Guests will also find plentiful dining options adjacent to the hotel if they opt not to purchase a guest meal ticket.
The $100 guest meal ticket includes:
• Breakfast Fri., Sat., Sun., April 26 – 28, 2013
• Keynote luncheon, Fri., April 26, 2013, but not Sat. Member Luncheon
• Coffee breaks on Fri., Sat., and Sun.
NOTE: A guest meal ticket is not required to attend the Friday evening reception
To sign up go to:
http://nacba.org/
