Circuit Judge Jennifer Bailey Miami Throws 15,000 foreclosures into chaos for procedural irregularities

I think we will be seeing more from Judge Bailey but bravo to the Judge for being so insightful. If memory serves me correctly she is Chairman of the Foreclosure Task force in Florida and this is a very good way of (a) demonstrating how the pretender lenders played fast and loose with basic law [...]

OHIO SLAM DUNK by Judge Morgenstern-Clarren: US BANK TRUSTEE and OCWEN Crash and Burn

Pretender Lenders — read and weep. Game Over. Over the next 6-12 months the entire foreclosure mess is going to be turned on its head as it becomes apparent to even the most skeptical that the mortgage mess is just that —  a mess. From the time the deed was recorded to the time the [...]

FDCPA — Fair Debt Collection Practices Act

Don’t get misled by titles. The wording of the statute clearly uses “verification” not validation. Verification generally means some sworn document or affidavit. This means when you contest the debt under FDCPA (in addition to sending a QWR) the party who is supposedly collecting or enforcing the debt has a duty to “obtain verification”. And [...]

Debtor Without Lawyer Defeats Motion for Relief from Stay, Based on Lack of Standing

Debtor Without Lawyer Defeats Motion for Relief from Stay, Based on Lack of Standing By Craig Andresen, Minnesota Bankruptcy Attorney on Mar 29, 2009 in Featured, Foreclosure Defense, Mortgage Issues In Bankruptcy, Mortgage Servicer Abuses A Washington bankruptcy court recently agreed with a pro se debtor that mortgage servicing agents do not possess legal standing [...]

Give me a little help here: Trusts, REMICs, and the Authority of the Trustee or Trustee’s Attorney to Represent

When U.S. Bank comes in as Trustee for the the holders of series xyz etc., the use of the words Trustee and series certificates give it an air of legitimacy. But this is probably just another bluff. Reading the indenture on the bond (mortgage backed security) and the prospectus, you will see that the “Trust” [...]

Real Consumer Protection: New York Times Gets it Right This Time

June 24, 2009 Editorial Real Consumer Protection The federal consumer protection system failed the country, disastrously, in the years leading up to the mortgage crisis. One big cause was the sharing of responsibility for compliance with laws and regulations among several agencies that communicate poorly with each other and tend to put the bankers’ interests [...]

June Reyno – June 23, 2009 Letter to President Obama about my police arrest

June Reyno – June 23, 2009 Letter to President Obama about my police arrest (Please write, call, copy this letter as reference also to President Obama  for yourselves, for me and the community of homeowners who have lost their homes or will soon lose it)  Refer links to websites for him–Thank you. The White House 1600 Pennsylvania Ave NW [...]

Securitization in A Nutshell

According to the terms of any note I ever read, any payment from you or any third party that is intended to be a payment against interest, principal or both must be applied as such. You have hit the nail on the head with your question. When they pooled your note, the deal you signed [...]

Wells Fargo Steps on A Rake (We Hope) — EGGS — a New Country

And when that rakes hits them in the head, it will hopefully start a domino effect with the rest of the pretender lenders. OH Sup Ct – Wells Fargo Appeal WF has decided to go for the brass ring by bringing an appeal from a case they lost. What they are saying to the Ohio [...]

Due Process, Discovery and Burden of Proof

Non-judicial process was never intended and could never be constitutionally applied as a mere trick to avoid due process. If these parties wish to initiate foreclosure they must, whether it is a judicial process or a judicial process, possess the attributes of the basic jurisdictional elements of standing and they must possess the attributes of [...]

JUNE REYNO TURNS UP THE HEAT IN FIGHT TO SAVE HOME

EDITOR’S NOTE: ATTENTION ALL LAWYERS: SOMEBODY GET IN THERE AND HELP HER!! MIRA MESA, Calif. — A Mira Mesa woman who chained herself to her home and broke into the home after being evicted is preparing to stand trial.Last year, June Reyno chained herself to her front porch after being told her Mira Mesa home [...]

PRODUCE THE NOTE AND LIVINGLIES STRATEGIES GET MORE PRESS

Even before he defaulted on a rental property, Vladimir Diaz of Broward County started “to educate myself” with information he found on the Livinglies Web site. So he knew how to challenge IndyMac Bank when it filed a notice of foreclosure even though it didn’t own the loan “note” — the borrower’s obligation to repay. [...]

Media picks up on evil business practices of servicers: Watch These Videos

HOMEOWNER FIGHTS AND WINS WITH ACORN: watch HOMEOWNER FIGHTS AND WINS ON PRODUCE THE NOTE: watch BLACKMAIL: NO LATE PAYMENTS? NO PROBLEM. GET OUT!: watch PRODUCE THE NOTE: WHEN THE BANK LOST OR DESTROYED THE EVIDENCE: watch “EVERYONE SHOULD PUT THE ‘LENDER’ TO TASK”: watch Servicers do everything they can to keep loans in default, make money [...]

NY Times: State Revenues Buffeted by Downturn — Turning a Blind Eye to Tax Collection

EDITOR’S NOTE: It might seem unrelated, but the foreclosure crisis is very much related to BOTH the state budget problems and solutions. While Wall Street tinkered with real property in each state, making unrecorded transfers at huge profits, state Treasurers and county revenue departments have sat idly by watching tens of billions of dollars in [...]

Reader Uncovers 1998 Countrywide Loan Purchase Agreement Showing “Loan” was actually Securities transaction

A FEW THOUGHTS ON THE ATTACHED AND SOME CONCLUSIONS: COUNTRYWIDE – E-LOAN LOAN PURCHASE AGREEMENT THE MANUAL: I have heard about the MANUAL from several sources but never seen it. This reminds me of another banking practice where the national and regional credit and debit card networks refer to the rules and regulations governing electronic payments [...]

Federal Appeal Slams Lawyers and Pretender Lenders with Sanctions for Misrepresentation on Ownership of Loan

Read it and use it: judge-youngs-decision-on-nosek Challenge everything: As we have repeatedly stated, the entire position of the would-be foreclosers is a bluff and a fraud upon the court, the borrower and the system. Non-judicial process is improper procedure and unavailable for securitized mortgages: These astonishing breaches of ethics, duties and contract law together with [...]

Modifications — No Way Out

Editor’s Note: The reason they “lost” the note is that it was a strategic decision to claim they lost it. There is a procedure for re-establishing a lost note and until recently the rules were extremely loose — because back in the days when those rules were established you had two parties (the borrower and [...]

NY Times Says it All – Almost – Foreclosures: No End in Sight

Editor’s Note: The opinionators at NY Times have it right in their description but wrong in their prescription. The reality is that nearly all securitized mortgage loans are worthless and unenforceable. The marketplace seems to know that — with “mortgage-backed securities” (that are not backed by anything in reality) selling at 3 cents on the [...]

Testimony Before Sub Committee lays the story out short and sweet — TAX EVASION, LIABILITY SHELL GAME

It’s happening…. the word is spreading. Read this carefully. It has lots of good quotes for you to use. But the narrative on who owns the loan is wrong — the investor purchases a bond and a share of the loans. The  SPV “Trust” owns nothing.  It is a REMIC conduit which means there are [...]