ECONOMIC GROWTH STALLS BELOW “EXPECTATIONS”

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S COMMENT: EXPECTATIONS? Yes, well if anyone had expectations of good news for the economy it is because they are on drugs, alcohol or just suffering from delusion. Who could ever think that things are getting better when everywhere you look they are [...]

FDIC SUES LPS AND CORELOGIC ON APPRAISAL FRAUD

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE SEE FULL ARTICLE ON SUBPRIMESHAKEOUT.COM LINK BETWEEN APPRAISAL FRAUD AND HIDDEN 2D TIER YIELD SPREAD PREMIUM EDITOR’S NOTE: Now the FDIC gets it too. THE WORSE THE LOAN THE MORE MONEY THEY MADE. In the convoluted logic of the mortgage mess the investment [...]

M&T Chairman: Megabanks running an unsafe business model

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S COMMENT: Nocera has run across a banker who speaks the plain truth, doesn’t fiddle with trading profits and builds a sound business model. He found it refreshing. I like that. Imagine the degree of refreshment when he realizes that there are about [...]

Housing Prices Fall to New Lows Without Buyers

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE “EMOTIONAL SCARS ON THE AMERICAN PSYCHE” “Housing is locked in a downward spiral” EDITORIAL COMMENT: Why would anyone buy when they are uncertain as to virtually all market conditions including the fact that they might be getting “title” from someone who doesn’t have [...]

MOTION TO DISMISS DENIED: FRAUD ALLEGED V MORGAN STANLEY

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE 56545204-MBIA-v-MS-DENIED-w It is interesting how the same allegations made by an institution are taken more seriously. In fact, the Court leaves in the prayer for punitive, consequential and future damages. Here MBIA is suing Morgan Stanley for lying about the risks and the [...]

THE DIVINE RIGHT OF BANKS

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE “someone needs to say the obvious” If it is right for the investors, pension funds etc. to refuse living the lies of the bankers why isn’t it right for the rest of us? If the investors are not interested in getting involved with [...]

BANK PLOY: WE NEVER GOT YOUR DOCUMENTS

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S COMMENT: The truth is that the “home retention” or “modification” programs are a farce. They are merely a cover for the actual plan in effect which is to get as many houses in their pocket before the reality of the illegality of [...]

CITIZENS OF AMERICA SHOULD BE UNITED AGAINST THE BANKS’ SECURITIZATION FRAUD

“The sad part of this whole picture is that even after so many homebuyers were victimized, that the homeowners who fortunately were not, are not standing by those that were and bought into the story for the first several years that it was the dead beat homeowner that caused this demise, and with that mindset, [...]

JOIN NOW! 200,000 SIGNATURE DRIVE FOR ELIZABETH WARREN RECESS APPOINTMENT

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S NOTE:  A recess appointment is one in which the President appoints someone during a congressional recess. I’m no expert on the details but I know that recess appointments have been extensively used, particularly by the Bush administration to get around the requirement of getting congressional [...]

CONSUMER WEAKNESS CONTINUES TO DRAG ECONOMY DOWN: IT’S HOUSING STUPID!

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S COMMENT: How in the world can anyone say that weakness is consumer spending is surprise. we all know they have no money, no credit and bleak prospects in the job market. Where’s the surprise? A Weak Consumer Weighed on Growth in the First Quarter By [...]

NOTE HOLDER IS NOT A HOLDER IN DUE COURSE

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE FROM JOHN GALT, BUT ATLAS IS STILL SHRUGGING I’m taking this as an invitation to discuss the fact and ramifications of the noteowner NOT being a holder in due course (one who takes a note, for instance, with notice of its dishonor, i.e., it’s in default [...]

Economy is Still Choking on Housing — When Will Obama Act?

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S NOTE: I am tired of reading about how economists express surprise at the sluggish economy. The same goes for when they express hope at slightest uptick in any index that is followed, none of which are real representations of economic activity. As the recent new [...]

Mortgage Companies Settle Suits on Military Foreclosures

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S NOTE: After years of revealing on this blog the many illegal foreclosures on property owned by service people who were on active duty, putting their lives on the line for their country, and laws that have long been in effect that such actions cannot be [...]

GRETCHEN MORGENSON ON CNN TONIGHT WITH SPITZER

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE Her new book “Reckless Endangerment” is a good read. Gretchen was amongst the first to drill down on the mortgage meltdown and expose numerous illegal practices of lenders and foreclosers (different parties, as we know). In many ways she has led the way for other journalists [...]

Foreclosure-Gate Screw Tightens: Banks Face $17 Billion in Suits Over Foreclosures

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S COMMENT: Here is our problem writ large. The commentary written by Shedlock (see below) is basically on the side of punishing the banks for their wrongdoing, but not giving any relief to borrowers. The logic behind the position is that anyone who does not pay [...]

COLLATERAL BENEFIT: WHO GETS IT? PRETENDERS OR BORROWERS?

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE FROM MARKET TICKER Mish Is Again Off The Rails (Foreclosuregate) Sigh….. State attorneys general are not happy with a $5 billion offer by major banks to settle lawsuits regarding robo-foreclosures and other alleged grievances. Some officials want as much as $20 billion. The compromise threat is [...]

REPUBLICANS ATTACK ELIZ WARREN: SLEAZE BATH SHOULD BACKFIRE

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S NOTE: When you have nothing else throw mud. Some of it is bound to stick no matter how stupid it is. That’s straight out of the Republican playbook. The Banks are losing ground and they are pounding and threatening the Republicans withdrawing their support and [...]

IL AG ISSUES NEW SUBPOENAS TO LPS AND NTC

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE MADIGAN ISSUES SUBPOENAS TO LPS, NationWide Title Clearing ; WIDENS ‘ROBOSIGNING’ PROBE FROM STOPFORECLOSURENOW.COM Chicago — Attorney General Lisa Madigan today expanded her investigation into “robosigning” practices, issuing subpoenas against two national mortgage servicing support providers. The subpoenas are the latest effort in Madigan’s ongoing probe [...]

NY Times Editorial: As Housing Goes, So Goes the Economy

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S NOTE: Where were they three years ago? Well it is still a good thing that the lead editorial connects the dots. The housing market is continuing to decline and it will continue as long as we regard the foreclosures as having any color of legitimacy. [...]

Cal AG Forms Special Task Force on Bankers’ Fraud — Says Fraud Cost the State $640 Billion

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE “We are looking at a situation of up to $640 billion in wealth having been lost because of this wave of foreclosures that has hit the state,” Harris said, referring to the decline in homeowner equity. “There is a direct connection” between mortgage fraud “and the [...]