Auction Company and Trustee Company Pledge to Stop Handling Foreclosure Auctions

Links: Sign Pledge    Pledge Signers

We pledge to no longer handle any residential foreclosure auctions until passage of a Homeowner Bill of Rights that implements:

  • Basic standards of fairness in the mortgage process, including an end to dual tracking foreclosures
  • Transparency in the mortgage process, including a single point of contact for homeowners
  • Community tools to prevent blight after banks foreclose upon homes
  • Tenant protections after foreclosures
  • Enhanced law enforcement to defend homeowner rights – paid for by fees imposed on banks
  • A special grand jury to investigate financial and foreclosure crime

as well as instituting a mortgage principal reduction or deferral program to keep our neighbors in their homes.

We join the California State Attorney General, the entire San Francisco Board of Supervisors, and the Mayor of San Francisco in urging mortgage loan originators and servicers to stop predatory foreclosures and related auctions and evictions immediately.
 

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Pledge Signers

company
city
un-incorporated
Novato

Foreclosure Auction Companies

Foreclosure Auction Companies are corporations who administer foreclosure auctions.

We are asking all foreclosure auction companies to sign a pledge to stop handling residential foreclosure auctions until passage of a Homeowner Bill of Rights.

Auction.com

Cal Agent Services

Cal Western Reconveyance

FEI Services

Headquarters at 3535 Factoria Blvd, SE, Suite 200, in Bellevue, WA 98006. Tel: +1 888-334-7678. Media inquiries tel. +1 425-247-2000 or email mediainquiries@feillc.com. Web: www.feillc.com. Additional offices at:

  • FEI Santa Ana Office, 1241 E. Dyer Rd, Suite 250, Santa Ana, CA 92705, +1 714-277-4850
  • FEI Honolulu Office, 500 Ala Moana Blvd, Suite 2-306, Honolulu, HI 96813, +1 808-529-9987
  • FEI Boise Office, 202 S. Cole Road, Boise, ID 83709, +1 208-283-8388

Lender Processing Services / Agency Sales and Posting (LPS/ASAP)

Web: http://www.lpsasap.com (can sign up for free access to trustee sales database, i.e. for foreclosure auctions)

Links: Add Auction Companies to List

Another Day at the Auctions

We got word that Wells Fargo had postponed the auction of Ted Harvey’s home until May 30, which is good news since they are dual tracking him by accepting trial loan modification payments at the same time as listing his home for auction. Now, we have a month more to help Ted get the bank to give him a fair deal, rather than the outrageous ARM loan they muscled him into accepting to remain in his home.

City Hall Building Manager Robert Reiter attended the auction today, along with his boss City Hall Real Estate Director John Updike and they both agreed that the foreclosure auctioneers and protestors should stay off City Hall steps. So, the only auction activity today took place on the sidewalk in front of City Hall. Protestors agreed not to protest the auctioneers announcements of postponements and cancellations, as well as one auction where the prior owner of an empty lot was present and didn’t object to the auction. Some other auctions probably didn’t happen due to the whistle-blowing (literally) of the protestors.

Protestors also raised questions with the police and City Hall officials about what business registration, permits, and licenses the city requires for foreclosure auction activities and everyone involved is investigating further.

According to statements of the auctioneers, the three auction companies with auctioneers usually present at City Hall are:

  • Lender Processing Services (auctioneer Terry Redmon, for which SF Office of the Treasurer & Tax Collector has no DBA business registration)
  • Cal Agent Services (auctioneer Andrew Zheng, haven’t checked for DBA registration yet)
  • FEI Services (auctioneer Darius, haven’t checked for DBA registration yet)

Thanks to Becca Gourevich for snapping many of the photos below.

City Hall Tells Foreclosure Auctioneers No More Auctions on City Hall Steps

The Occupy the Auction Dance Party at San Francisco City Hall steps went fabulously well at first today, April 27, 2012, with two auctioneers leaving once they realized protestors would react loudly whenever they tried to sell off another home for the banks.

We organized to follow up on the Foreclosure Moratorium Resolution passed unanimously by the San Francisco Board of Supervisors and on the Mayor’s request for the banks to “pause” on foreclosures until the California legislature passes the State Homeowner Bill of Rights.

We danced and made lots of noise and had fun stopping some auctions.

However, one crafty auctioneer named Terry Redmon pretended to drive off, then returned later to auction off one property on Moraga to investors for $700K+ with another property sold to the bank. She falsely told Sheriff’s deputies that protestors were assaulting her, so the deputies prevented protestors from participating in the “public” auction.

One surprise came when City Hall Building Manager Robert Reiter told auctioneer Terry Redmon that she and other foreclosure auctioneers are no longer welcome on City Hall steps. They have to take their business elsewhere. See her reaction in the last picture posted below.

Thanks to all the amazing folks from Occupy SF Housing, ACCE, SF Tenant’s Union, Occupy Bernal, Occupy SF and other groups who helped plan the action and showed up today… we sent another message the banks will hear loud and clear!


Thanks also to Peter Menchini for the great video of the Occupy the Auctions Dance Party action below:

Link: Coverage from KCBS Radio

Thanks to Becca Gourevich of the San Francisco Tenant’s Union for snapping a lot of the photos below:

California Law on Auctioneers, Auction Companies, and Defaults

“Every auctioneer and auction company shall maintain a bond issued by a surety company admitted to do business in this state. The principal sum of the bond shall be twenty thousand dollars ($20,000). A copy of the bond shall be filed with the Secretary of State,” from California Law on Auctioneers and Auction Companies.

Does this mean that any auctions performed by any auctioneer not bonded for $20,000 with the Secretary of State of California is not a legal auction?

Thanks to Hydrogene for bringing this to our attention.

Also, there is California Law on Defaults.