FLORIDA FORECLOSURES, JUNE 2008-2012

LYNN E. SZYMONIAK, ESQ., HOUSING JUSTICE FOUNDATION, JUNE 30, 2012

This increased push to foreclose, especially by trustees of residential mortgage-backed trusts, may be the single most important development in the American economy in 2012. There was a dramatic increase in the number of new foreclosures in Florida in June, 2012. In some cases, new filings reached an all time high. Bank of New York Mellon filed more new foreclosures in Hillsborough County (the Tampa area) in June 2012 than in June of any of the preceding four years. In almost every county and for each of the banks studied, there was an increase in new filings in June, 2012 not just when compared with June, 2011. In some cases, the new filings were the highest in five years. The dramatic increase was not consistent in all counties and with all banks. Bank of New York Mellon and Bank of America were more heavily engaged in filing new foreclosures than Citi, Deutsche and Wells Fargo. The number of new Lis Pendens filed in the official county records of five Florida counties by five banks are reported below. The banks are Bank of New York Mellon, Bank of America, Citi, Deutsche and Wells Fargo. Bank of New York Mellon is the trustee for most of the CWABS and CWALT trusts, the Countrywide Trusts. Deutsche Bank is the trustee for most of the American Home Mortgage Asset and Investment trusts, as well as many of the Soundview and Long Beach trusts. Wells Fargo is the trustee for many of the Option One Trusts. The failures of these three sub-prime lenders, Countrywide, American Home Mortgage and Option One, proved disastrous for the American economy. Even after five years, most bankers and their reporters refuse to admit that mass foreclosures drive down home prices and result in more foreclosures, creating a death spiral for borrowers, communities and investors. The counties chosen each have a population of at least one million people. This increased push to foreclose especially by trustees of residential mortgage-backed trusts may be the single most important development in the American economy in 2012.

Bank of NY Mellon Broward County 2012: 169 2011: 21 2010: 94 2009: 302 2008: 278 Hillsborough County 2012: 156 2011: 31 2010: 97 2009: 134 2008: 138 Miami-Dade County 2012: 264 2011: 48 2010: 108 2009: 305 2008: 377 Orange County 2012: 107 2011: 22 2010: 72 2009: 148 2008: 184 Palm Beach County 2012: 242 2011: 68 2010: 121 2009: 167 2008: 261 Bank of America Broward County 2012: 160 2011: 39 2010: 290 2009: 399 2008: 187

Hillsborough County 2012: 215 2011: 88 2010: 219 2009: 201 2008: 92 Miami-Dade County 2012: 378 2011: 135 2010: 308 2009: 547 2008: 244 Orange County 2012: 164 2011: 53 2010: 183 2009: 221 2008: 94 Palm Beach County 2012: 227 2011: 112 2010: 193 2009: 260 2008: 223 Wells Fargo Broward County 2012: 185 2011: 106 2010: 577 2009: 331 2008: 209 Hillsborough County 2012: 256 2011: 117 2010: 369 2009: 253 2008: 195

Miami-Dade County 2012: 280 2011: 198 2010: 709 2009: 536 2008: 316 Orange County 2012: 172 2011: 149 2010: 346 2009: 264 2008: 157 Palm Beach County 2012: 221 2011: 207 2010: 384 2009: 261 2008: 288 DEUTSCHE BANK Broward County 2012: 82 2011: 77 2010: 155 2009: 408 2008: 386 Hillsborough County 2012: 256 2011: 44 2010: 82 2009: 195 2008: 178 Miami-Dade County 2012: 172 2011: 111 2010: 192 2009: 621 2008: 600

Orange County 2012: 31 2011: 41 2010: 149 2009: 196 2008: 206 Palm Beach County 2012: 58 2011: 89 2010: 83 2009: 262 2008: 394 Citi Bank Broward County 2012: 66 2011: 54 2010: 148 2009: 212 2008: 176 Hillsborough County 2012: 74 2011: 55 2010: 75 2009: 122 2008: 166 Miami-Dade County 2012: 131 2011: 123 2010: 213 2009: 349 2008: 283 Orange County 2012: 70 2011: 57 2010: 108 2009: 160 2008: 120

Palm Beach County 2012: 84 2011: 96 2010: 112 2009: 178 2008: 241
Note: Bank of America also filed thousands of foreclosures under the name BAC Home Loans Servicing. Those foreclosures are not included in this report. Wachovia Bank foreclosures are not included in the Wells Fargo numbers. No adjustment was made for duplicate reports in the official records when more than one person is listed as the owner.