Mortgage Meltdown Revealed in Harvard Study

In this study, the authors provide an exhaustive and invaluable aid, with plenty of charts and explanations of the mortgage meltdown, sub-prime and general credit crisis. This is MUST reading for anyone who is filing securities actions and foreclosure defense. With this paper, you can understand who the players are and what they were doing. This paper is thus far more inclusive than what we have written here which is designed to give you the information in bite-sized pieces.

harvard-paper-diagrams

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8 Responses

  1. @RayS – Soon after I filed my appeal in CA the trial court attorneys subbed in the local $800 / hr talent who specializes in defending corporations from criminal charges. They’re facing the impossible situation of two lenders claiming simultaneous beneficiary interest at notice of default and election to sell, and the trustee named on the notice acting as agent of “the beneficiary” (without specifying a name). So the trial court presumed the party who was ‘assigned’ the subject loan many weeks after the notice was the ‘lender’, even though the county records showed the second party as holding the beneficiary interest. The point of this exercise is to portray a clouded title at the time when the public interest would discover the availability of the property at an auction. And it didn’t bother the judge that by naming the first party as the beneficiary, it was impossible for the second party to transfer the loan several weeks later, because you obviously can’t transfer what you don’t possess. Either way felony false filing was involved, along with bid-rigging and conspiracy to grand theft. Somehow the trial court found no question of facts and granted the banksters’ motion for summary judgment.

    As for the Appellate court, they want me to focus on whether “the beneficiary” named on the notice was actually an agent of “the beneficiary”, and whether they were authorized to name the (subsequent) trustee as their agent, who authorized yet another agent to actually file the notice.

    Forgery, perjury, grand theft, false filing … these are a few of my favorite things. … oh, I keep forgetting … and elder abuse.

  2. y Shelton, on August 10, 2012 at 3:51 pm said:

    Ok People, Re: A very brilliant Attorney, Jeff Barnes. Like the guy above I was duped by other attorneys too. They bragged about how many clients they had just to get us to sign up but once signed they just avoided us like we had a death wish. Just try to get one of your past attorneys to send your file to a new attorney, that’s impossible. Our Florida bar will go after them but will they slap the hand that feeds them? Yea right, good luck with that complaint. Then one day as I started to give up hope I found a fighting Pit Bull needed to do battle against the big boys, and he is wining Federal Cases all across our great country. It took some time to get this man on board because he doesn’t want long winded stories or clients who truly have no case. He is also very tough on the money issues. After 6 months of saving and borrowing every penny to hire him, I headed out from Florida to meet him in person in Beverly Hills, California. Turns out that I was very lucky to meet him because he spends most of his time at 40.000 feet traveling to his next case or conducting seminars for other attorneys on how to win their foreclosure cases . I called as soon as I arrived, he said come over. I entered a plain office on the corner of Wilsher Blvd and Rodeo Dr and I found Jeff to be a very warm and personalble man. He was not all lawyer talk but he did have a clear understanding of the law and how Americans have been raped by the banksters and servicers. He did give me a mouth full of all the technical and legal issues that pertained to our case and for the first time I really believe that we were going to win this battle. Now after several months of him being on board I have come to really appreciate who I have as a defense team. I do think Jeff Barnes including his nationwide defense team are going to be a hero to many families who have been victimized by the banks. I also feel that they are going to make a big different in all the courts across this land, Just read about his wins on the Internet.
    We always believed that the banksters had no standing, because of the securitization issues, the mortgage companies and servicers bankruptcy’s, but at this point I can only have faith in Jeff and my own case because we are just now realizing that all the documents that were submitted by Golson’s firm were possibly fake and forged by some very complex machinery that forged our names. We are going to find out who did this. But we have the proof now and Jeff has presented it to the court, will our Judge rule on the truth now?
    If not Jeff will appeal imidiatlely. My biggest consern now is that some judges still dont get it and many peoplel feel that some judges are acting like collectors for the big banks.
    If we are right about the fraud on the court then when will these people go to jail? I believe that the board of directors of US Bank and SN Servicing may be Criminals involved in Racketeering and Corruption at its highest level but are they being shielded by the system to prevent the truth from coming out and the collapse of their profits?
    US Bank and SN Servicing has hired new attorneys now, then they too dropped out, begging the court to let them out of any liability ( we said no way and won that motion ) Did they probably realized that the doc’s were fraud on the court and wanted no part of it? Now a new law firm has been hired but guess what? These guys have a background in Criminal Defense. Is this to provide legal advice to keep the banksters and servicers out of jail as they continue to try and foreclose on us with possibly forged documents? Who really knows for sure. Soooo If you can, hire Jeff Barnes do it no matter what it takes because he is the best you are going to find when it comes to fighting the banksters. He trains other attornies on how to fight with the right tools in court and now many of them are winning too. Good Luck People and May God Bless You, Yours and Jeff Barnes.
    Thanks, Ray Shelton

  3. What I keep seeing is that a lot of “professionals” do not realize that SEC laws and rules and even discipline actions re: SEC are a completely seperate set of rules and just because a loan pool rules ( for example) states that a Trustee or Servicer Bank should act or perform specific duties, does not mean in any way shape or form, the the Local Pertaining REAL ESTATE laws are considered or even obeyed.

    This is why LOAN POOL DEFAULTS of HOMES , suddenly change text to “collection accounts” and the rules I have read 2006-4 CSMC clearly show special circumstances for “FAULTY LOAN INSTRUMENTS” Defaults and Trustee Auctions and DEEDS,

    If a lender forecloses and “buys it back at auction” They MUST take LEGAL OWNERSHIP, in which there is a Trustee’s deed which is redeemed for a full and clean title deed/ at least here in Non-jUDICIAL California.

    So Immediately the chain of title show somewhere a substitiution from the loan pool to trustee service or bank, they typically are named on the same but a servicer bank will be the one with the bottom feeders to try to empty the house for a cheap cash only price, ALWAYS sold in my neighborhood, even 1 hour after the MLS listing goes live.

    Well Start with the substitutions, a California judge has set a precedent, all subs need to be in place PRIOR to any duties such as recording a default, or conducting an auction, get copies of everything recorded. your copies taped to the door will almost always differ,

    When in doubt write or FAX ( a fax log will show you sent and they recieved it) the Attorney of record, or the highest executive you can find with any bank NAMED AS OWNER. ask FOR A RESPONSE IN WRITING, AS TO WHOM THE legal documentED OWNER OF RECORD IS. IF IT WAS A LOAN POOL FORECLOSURE, AND A TRUSTEE BANK CLAIMS OWNERSHIP , CHALLENGE IT, UNLESS THE LOAN POOL SHOWS THE SALE AS A PROFIT, it will screw up tax shelters etc,. also its heavey evidebce of a lie if they actually send it to you.
    I asked for this from a robosigner Atty.. they dropped the case after I demanded in writing the name and address of owner!

    FYI I am not an attorney. What I posted is what I have learned and found myself thru reading every rule, law , judges bench guides,Real Estate Laws, Banking Laws. I have been ripped off foreclosed evicted , victim of slumlord theft abuse and harassment, and face eviction in may as a lowly renter, who wouldnt run away, and move out, I leanred my rights and used them, and the new owner is aware I know all about the most recent chapter in fraud this one is a real slime! ( REPORTED!!)

  4. [...] Harvard Study Analyzing Mortgage Meltdown, Lawsuits and Claims [...]

  5. That is very important section. You are possibly that a good broker. Thanks.

  6. Hey Sam, it is you! Link is fine!

  7. works fine for me

  8. Let’s kick things off by getting the link to the Harvard article working. It seems to go nowhere – perhaps I am the only one who cannot get it to work?

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