Fabrication of Documents: MERS GAP Illuminated

Another example of why a TILA audit is grossly inadequate. A forensic audit is required covering all bases. Although dated, this article picks up on a continuing theme that demonstrates the title defect, the questionable conduct of pretender lenders and the defects in the foreclosure process when you let companies with big brand names bluff the [...]

Lucrative Fees May Deter Efforts to Alter Loans

It’s not just that servicers get more money by pushing the loan further and further into distress. They certainly have that incentive. When the loan becomes “delinquent”, they get more money, when the loan goes into “default”, they get more money, and when the loan goes into “foreclosure”, they get more money. So of course [...]

Poetry From a Lawyer Who Gets It

Disappearin’ Ink Stephen Brunette, Esq. Johnny lost his house today.  There’s lots o’ reasons why, but Johnny’s worked hard all his life, always done me right.  Johnny loves his country, likes a good clean fight, but Johnny’s been blindsided and won’t be goin’ home tonight. Seems some numbers on some papers wrote in disappearin’ ink [...]

That’s It: The Gloves Are Off — AZ LEADS EFFORT TO SCREW HOMEOWNERS

Doesn’t it bother you that you pay your taxes for doing business in the state of Arizona or whatever state you hail from, but the Wall Street players made trillions of dollars in trading securities based solely (deriving value from)upon interests in real property situated within the boundaries of your state and never reported any [...]

Class Action Firm Seeks Central Missouri Homeowners

 Let’s do some networking here and help the lawyers who are helping us! The lawyers in MISSOURI are seeking to make contact with homeowners in the central part of the State of Missouri in the following counties: Howard, Boone, Callaway, Osage, Cole, Miller, Monteau, Camden, Hickory, Benton, Morgan, Pettis, Cooper. Please send information to ngarfield@msn.com. [...]

Cuomo Files Civil and Criminal Charges Against Debt Collectors for Fraud on Courts

Pretender lenders and lawyers for pretender lenders should take warning. The operation described in this article is virtually identical to the operation used by pretender lenders. See also LENDER LIABILITY pdf July 23, 2009 N.Y. Claims Collectors of Debt Used Fraud By JONATHAN D. GLATER Tens of thousands of New York consumers had money seized [...]

More on Default Trap Door

There is a trap door that a lot of people are falling through. In a securitized loan the investor is the lender. In order for there to be a default, it is the investor who has lost money through non-payment. The investor has not lost money through non-payment if a payment was made through the [...]

Send Marcy Kaptur Letters of Support–Just Do it

Why didn’t the taxpayers get as good a deal as Warren Buffett?

Loan Modification: Scamming from the Top Down

As the following Press Release for California AG’s office describes, it is the type of scam that happens in medical practice — offering relief, life or forgiveness — in exchange for money. I don’t agree with all the tips that Brown has published because he still has yet to absorb the fact that most foreclosures [...]

Looking for the Lenders’ Little Helpers By GRETCHEN MORGENSON NY Times

Looking for the Lenders’ Little Helpers By GRETCHEN MORGENSON Published: July 11, 2009 IT is hard not to be dismayed by the fact that two years into our economic crisis so few perpetrators of financial misdeeds have been held accountable for their actions. That so many failed mortgage lenders do not appear to face any [...]

NOTICE OF DEFAULT: REAL OR FAKE?

First I want to thank the readers and the lawyers for climbing aboard this train on a highly improbable journey of turning the tide on Wall Street. Many of you are doing an outstanding job in this homeowner’s war to protect your property and our way of life. I am blessed to have been the [...]

Default: Really? Or is it just a monthly payment that is no longer due?

While Mr. Barnes’ enthusiasm in the submission below is a bit over the top it points out quite skillfully that things are not as they appear in any foreclosure involving a securitized loan. Barnes was effective in pressing the point early on and refusing to accept the burden of proof on issues where it was [...]

Calpers Sues Over Ratings of Securities

July 15, 2009 Calpers Sues Over Ratings of Securities By LESLIE WAYNE SACRAMENTO — The nation’s largest public pension fund has filed suit in California state court in connection with $1 billion in losses that it says were caused by “wildly inaccurate” credit ratings from the three leading ratings agencies. The suit from the California [...]

Wall Street Throttles Up Battle Against Consumer Protection

“The people running this system remind me of gangsters who manage to walk out of the courthouse with a suspended sentence and can’t wait to get back to their nefarious activities.” “Today’s business model is about making money through tricks and traps.” –Elizabeth Warren Chairman of Oversight Committee There is nothing free or fair about [...]

Loan or investment . . . what did the homeowner receive?

Maher Soliman and Steve Kop have hit the nail on the head. The only grey area that needs to be explored is the same cinfused mess that started this. The SPE is a conduit by definitition. It is a REMIC. That means it does NOT own the mortgages and notes and it does not own [...]

Lex, Lies and Losers

Maher Soliman suggested that we consider throwing the SPV Trusts into receivership. Here was my response: MSOLIMan: Forcing the trust into receivership might be a good idea — or even forcing into involuntary bankruptcy. But be careful here. While the Trustee maintains that a trust exists and that the trustee has powers over the subject [...]

Mortgage Meltdown: The institutionalization of fraud and criminality

GRETCHEN MORGENSON of the New York Times Keeps Getting It Better and Better. In Today’s article she demonstrates tenacity, insight and combines it with her excellent writing skills. Send her some fan mail. What follows is one of my annotations on one of the many books, treatises and articles that I am constantly reading on [...]

TRUTH: Toxic Assets Held by Wall Street: $30 Billion, for everything else there’s MasterCard

The reason why the figure is so low is exactly why we have been saying that the Wall Street pretenders have no right to foreclose. They never owned the mortgage backed securities because they sold them “forward.” That’s a fancy way of saying they sold the securities before they existed. They were a figment of [...]