Elizabeth Warren Has It Right

Carmen Reinhart: “No Doubt. Our Pensions Are Screwed.”
http://www.zerohedge.com/news/2013-04-11/carmen-reinhart-no-doubt-our-pensions-are-screwed

Editor’s Comment: It is nothing less than an insult to our intelligence. As the walls crumble around the myth of securitization, the banks are stepping up efforts — in concert with the agencies that are supposed to regulate them — to prevent people from doing simple math. The truth is out. The attempt to sweep illegal mortgages under the t able failed with the foreclosure reviews and now they are trying to do it with a settlement that says if you lost your house and possessions and it was taken illegally you can have an average of $1,000 in damages.

In appearing before Congressional committees the Federal Reserve and the OCC admitted that most of the foreclosures were illegal — which means they never should have happened. Elizabeth Warren asked a simple question. If you found all this illegal activity and you have an actual list with actual homes and actual names on them why won’t you notify the homeowners of your findings. After all you are a public agency. And the AGENCY invoked claims of privacy on behalf of the banks.

If that doesn’t turn everything we know about our constitution and our laws on its head, I don’t know what would. We have a right to this information especially if we are the homeowners who were victims of the false scheme of securitization. But even even if we didn’t lose a home and we “only” paid TARP and other bailout dollars giving banks 100 cents on the dollar despite their obvious culpability in selling crap to institutional investors, undermining our pension and retirement system, and sticking the homeowners with homes worth less than half of the appraised value used at the so-called loan closing.

I think lawyers should file an action under FOIA (Freedom of Information Act) and get those reports and contact the homeowners to tell them that their lives were turned upside down by a foreclosure that was illegal, performed by an actor who merely pretended to be the creditor on a debt that no longer existed, in which the pretender received a free house on a false”Credit bid” without ever investing a penny into the house or the loan.

The damage claims from the existing list, which was cut short by the “Settlement” for $1,000 for each homeowner, are not curtailed at all by the actions of the OCC and the Federal Reserve. It is like a vein of gold miles wide and hundreds of feet thick sitting on the surface of the earth. Any PI or malpractice attorney would make ten times their current income if they investigated this opportunity. This is easy money once you start digging — which is exactly what stopped the OCC review and other programs like it.

Fed Argues that Mortgage Abuses are Trade Secrets, Meaning Institutionalized Fraud
http://www.nakedcapitalism.com/2013/04/fed-argues-that-mortgage-abuses-are-trade-secrets-meaning-institutionalized-fraud.html

Foreclosure Review Program’s Regulators Take Pounding From Elizabeth Warren, Sherrod Brown
http://www.huffingtonpost.com/2013/04/11/foreclosure-review-program-warren-brown_n_3062126.html

Warren grills bank regulators over bungled foreclosure review
http://money.cnn.com/2013/04/11/news/economy/warren-foreclosure-hearing/

Foreclosure Review Report Shows That the OCC Continues to Bury Wall Street’s Bodies
http://www.thenation.com/article/173749/foreclosure-review-report-shows-occ-continues-bury-wall-streets-bodies

1 in 3 Foreclosures Have Bank Errors to Blame — AOL Real Estate
http://realestate.aol.com/blog/2013/04/11/bank-errors-foreclosures/

14 American Cities Getting Buried By Foreclosures
http://www.businessinsider.com/us-cities-with-most-foreclosures-2013-4

About these ads

54 Responses

  1. anyone may contact me at gwencaranchini@sbcglobal.net
    I have been ill so it may be a day or so before I get back to you.
    also I have a filing in my own case due tomorrow and I am behind because of my illness. please wait until Tuesday to write me. thx.
    thx for any help you can give me.

  2. Martin leigh laws & fritzlen LAW FIRM

    some how martin leigh laws & fritzlen law firm has allegedly been reported in other cities about alleged wrongful foreclosures, robo signing documents to present to courts to take homes.

    robo signing is when documents don’t exsisit to foreclose & you just invent them.

    assignments of mortgages appear filed at court house showing the name of in some cases of twenty year olds as vice president of citi bank, wells fargo, country wide bank of america, chase, or american home mortgage, option one, eq, nova star all on the same day in different states with the same notary. (refer to you tube 60 minutes story about robo signers).

    of course the myth has been blame the bank! they did not act alone…..docxx & lps and corrupt judges nation wide were allegedly rewarded to look the other way…….

    fidelity national financial the nations largest title company has been a big player in the alleged fraud. service link, chicago title, alamo, land america and others on the fnf have allegedly played a role..they allegedly were involved with doc xx & lps (lenders processing) a lot of smoke and mirrors has went down with them even in missouri….they’re scared of the crooks, the folks that went after doc xx in missouri didn’t do their job….minnows for sharks

    since they’re all attorneys and law firms give heavily to keep folks in who will look the other way.

    many of the homes had adjustable rates & mortgages were done to steal property from home owners putting americas families at risk.

    although these stories appear nation wide about not only martin leigh laws fritzlen a kansas city law firm that operates at 1044 main, & st. Louis, and in overland park kansas. the local papers have ignored the “super lawyers” allowing them to do the worst evil imaginable, making kansas city and every city they stain worse off.

    allegedly their web site boast of over 500 foreclosures scheduled from april to july 2013.

    these foreclosure are in small towns derby kansas, fenton missouri, lees summit, olathe kansas every where there’s a house.

    fraud by any means necesssary………

    recently i have received documentation that
    martin leigh law fritzlen has used the united states postal service to allegedly commit fraud.
    Allegedly missouri & kansas victims of foreclosures have received the following notices
    from martin leigh laws law firm ……

    notice of eviction & tenant’s rights under federal law
    notice is hereby given that jackson & associates (owner) acquired title to the premises at a foreclosure sale.

    notice is further given that the federal protecting tenants at foreclosure act 2009 its a 2 page letter signed by sara n faubion attorney for owner.

    a call was made to jackson & associates a california law firm. Carlos, a long time employee stated jackson and associates does not buy any properties they just help provide reo services and help martin leigh laws fritzlen carry out evictions. They do not own the property, rang out clear as a bell, along with the over 500 evictions scheduled at mllf law firm…….

    martin leigh laws fritzlen mentions “the federal protecting tenants at foreclosure act… But doesn’t regard federal laws in sending out fraudulent letters that are untrue as in jackson & associates purchasing foreclosures. = rico **owner of midwest reo/ mllf & benny nassari*** & mokan title allegedly not registered at dept of ins.

    ACHESON LLC WAS ALLEGEDLY SET UP BY STEVEN LEIGH TO HIDE FORECLOSED PROPERTY UNDER. CHECK KS/MO SEC OF STATE AND SEE ALL THE WEIRD LLC THIS LAW FIRM HAS.

    AGAIN IF YOU GET NOTICE FROM ANY ATTORNEY STATING HOME BOUGHT AT SHERIFF SALE GO PULL DOCUMENTS AT COURT CIVIL DIV & RECORDER OF DEEDS, & CHECK TAXES..THESE FOLKS ALLEGEDLY ARE ENTITLED TO RICO ENFORCEMENT LAWS. AND STRIPPED OF LICENSE TO OPERATE….

  3. Thank you, Gwen. I sent an email to you just now.

  4. i have no problem sharing anything that is a public record in my case. anyone can ask me for anything any time. send me an email to gwencaranchini@sbcglobal.net
    the problem you will have however, is that you cannot use new evidence for the first time in the appellate court but maybe there is away around that–i congratulate you on getting to the supreme court of your state–that is awesome. i am sure your appellate lawyer will be a fine lawyer for you. i don’t give out legal advice i only share what i have done in my own case for obvious reasons–i am not a licensed lawyer.. but send me an email and I will send habib’s affidavit

  5. Gwen, would you mind sharing the BOA affidavit swearing BACHLS does not exist? I’ve just made it past the Supreme Court review of my case and the affidavit might add great support in my appeal brief. I will be bringing two points of error that could become a tremendous help to all with Fannie Mae loans. I’m encouraged because the Supreme Court did not shoot down these points of error. I defended the appeal pro se, but now have an appellate lawyer to write the brief. I don’t want to blow it now; I realize I’m past my pay grade in writing a strong appellate brief.

    I would appreciate all the positive thoughts any of you can send my way.

  6. They certainly will get away with what they can. They are all arrogant and have no respect for We The People, or our loved ones. Their shareholders, investors directors believe they are all above the laws of this land.

  7. Gwen Caranchini, I have a document you might want to see concerning the BAC Home Loans Servicing, LP (BACHLS) status. May I contact you privately somehow? I would like to exchange information about BACHLS. Bank of America Corporation agreed to take responsibility for BACHLS’ crimes (well, crimes is my word, but the official document says BACHLS violated the consent order).

    Homeowners and lawyers need to be careful about using BAC to abbreviate BAC Home Loans Servicing, LP. Bank of America Corporation is usually abbreviated BAC and subtle detail, such as the abbreviation, is meant to confuse. At least, it was in my case. It seems clear that thousands of trade names were made up to obfuscate and divert, in case the crimes came to light.

  8. well its like BOA claiming out of the blue after being in my case three plus years and answering for Wilshire, BAC and CW that they don’t exist and have not for all the time they have answered for them. Then they refuse my offer to dismiss them with prejudice and insist on a ruling. How nuts is this when BAC is still filing indepdently claims around the country.

  9. The government promised the distressed debt buyers that they could get away with it…it’s called deregulation…and we are the guinea pigs.

  10. need a massive class action-

  11. carie, re FOIA
    they will give us nada- gotta go to court to get it, i mean they will not, so that means more expense, its over 300 usd in state court and almost 400 in federal then service ect ect-people just give up, its expensive even without an atty even with contingency

  12. you know i think they are taking the piss i really do

  13. Gwen Carinchini
    how “child like” does it get, I have been in court now 4 years and all of a sudden HSBC pleads “not a party to the appeal” it ridiculous, they certainly acted like one up until appeal- look at for me would you if you have time 9th circuit 12-16192

  14. I agree with what J.F.K said in his speech on Secret Societies. A mistake does not become an error until you refuse to correct it.

  15. exposetherotteneggs…Thank You for your kind thoughts and words. Innocent victims are being mentally tortured in a big way. The title fraud is rampant. I agree with your brilliant PTSD analysis. People are becoming distraught over this ongoing mental abuse. This is way beyond being shell shocked.

    I see this ongoing mental abuse as not only strategic but it is being used for much more nefarious purposes.

    This constant and ongoing terrorism is just not healthy for anyones mind, body or soul esp when you know the truth about these financial crimes and you can see the toll it has taken on society while these crooks continue conducting business as usual.

  16. Javagold,

    For the longest time, lawyers wouldn’t get involved simply because most judges refused to grant them legal fees when they won. Nowadays, it happens a little more but still not often enough for them to take a risk of a beating in court.

  17. guest I love the piece on Warren, and what I notice was the writer wrote with conviction that the banks, OCC & Fed were wrong.

    Here we are two years after the OCC & Fed trying to get out in front of the 50 States Attorney Gen and anybody with half a brain knew that if bank were paying the consultants that this could happen, were the bank would influence the out come.

    However I also thing that getting caught was a part of the plan because its was to obvious what was going to go down. You got a million admitted to Robo signed assignment that Lorraine Brown admitted too.

    There got to be another act to this play, as Warren just heckled this last Act!

  18. thx

  19. i think boa wants something by getting a ruling that BAC does not exist otherwise why would they not want my agreement to dismiss bac with prejudice

  20. thx–call me at 816-223-7178 and i will chat with you about something i learned today but do not want to post

  21. reserve all rights to sue on the warranty of title–if no warranty of title the house is “unmarketable” according to any “good title company” such as chicago or stewart.

  22. Search By — Year — 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2013
    April 18th Oversight of Federal Housing Finance Agency: Evaluating FHFA as Regulator and Conservator
    538 Dirksen Senate Office Building
    10:00 AM – 12:00 PM
    April 17th Helping Homeowners Harmed by Foreclosures: Ensuring Accountability and Transparency in Foreclosure Reviews, Part II
    538 Dirksen Senate Office Building
    10:00 AM – 12:00 PM

  23. “…And the AGENCY invoked claims of privacy on behalf of the banks…”

    Yup—deregulation is protecting the distressed debt buyers of the unsecured false-default “mortgage” debt.

    We need to invoke the FOIA to open the Fannie/Freddie books.

  24. @Stripes
    Very sorry about your brother in law.
    What gets me is all the people who have been truamatized intentionally for tremendous greed and fraud. People affected by this should start suing for Post Traumatic Stress disorder as it wouldn’t be hard to prove. Our whole family went through this with us as well…nightmares,anxiety and other ailments.
    Also, how does the county recorder erase documents showing title. I didn’t know they could do that.

  25. Haven’t read the opinion yet, it’s brought to our attention by Matthew G. Kaiser at the Kaiser Law Firm PLLC, this is part of what he thinks this of the opinion:

    “And, seriously, this post doesn’t do justice to how much fun this opinion is to read. It’s nice to see judicial snark doled out for a win for a guy who is accused of a crime.”

    http://www.federalcriminalappealsblog.com/United%20States%20v.%20Kurlemann.pdf

    Thanks everyone comments regarding our “forever family” pet, and also on my comment on accountability indicating prosecution of everyone who should have known better is complex, but not impossible.

    Trespass Unwanted, Creator, Corporeal, Life, Free, Independent, Conscience, People, In Jure Proprio, Jure Divino

  26. Javagold- think about it. Well actually dont- you know already

  27. I have always asked since 2009. Where are the freaking LAWYERS !!!!!!!!!!!!

    The greediest , money hungriest amongst us and they refuse to make millions fighting this blatant fraud. Tells me all roads lead to the top.

  28. THE FED MESSED WITH THE WRONG SENATOR ……..

    http://www.salon.com/2013/04/15/fed_messed_with_the_wrong_senator/

  29. Imagine that Gwen … Plaintiff gives no warranties as to the title. That is always a dead give away for a cash sale. Buttwipes!!

  30. Gwen, they just updated and this is the current one. A couple of days ago there was one that was just BAC servicing (no CW). Will keep my eye open for you. And post them ….

  31. I would think in your local court if BAC is saying they don’t exist yet you finding a case filing for yesterday in some other part of the country you make that filing a part of your court case. How can you defend yourself in CA and be dead in Illinois.

    I believe this is the beginning of the end as these IFR records are going to be gotten by Congress and there were at least 100,000 files that were reviewed and the reviewers have already come out and said they saw illegal practices.

    I think at least with the 100,000 or so and the blatant well documented files that a monkey could understand the claim, it would be suicide for the OCC and Fed to hook onto those files. Do banks payout the less troubled files getting off with the least amount first, then knowing the blatant abuse were clear law on the side of the homeowners as with the Troops settlement it was clear GI Joe was on the battlefield being fired at while Bank of America was at home throwing GI Joe’s wife and little children gi joe and gi jane out by the curb with Lassie!

    So now we got this quick settlement and documented files that have been reviewed and laws broken and the victims is receiving $300? These banks should know that these loans are going to end up in Federal Court for theft. So do you try to make right on the winners and know your going to still fight some cases, but those cases if they were easy to win would have file with the IFR before the first dateline of Apr 30, 2012.

    I not saying that a victim had to apply for a review, but even if in court at the time of the review (which did not stop your court case), why would you not at least apply? Now the bank have all the documents and stories we have to present to court and we will have all their input of these cases through the reviewers. If the banks thought that they could win they would never be making these settlement in the first place.

    Think about it, as the OCC & Fed only regulate over these banks and are not the courts and Sen Warren has put on notice that she wants the records, which at some point after she was elected the bank should have known she would, and is the reason I believe this has always been planned in the event Obama lost the victims had a GOP that not wanting to hear the stories of the victims. However that Obama no help in this matter he does not hurt because he cannot come out now against the victims with his “they are deadbeat” speeches!

    It was ironic that on Nov 7, 2012 that the independent audit of the FHA was released! The GAO report last summer and their latest report on the Botched IFR, which is a subject Obama has not talked about! How does the President of the US not mention that $70 billion in FHA loans were loss, plus plus while now asking the DOJ to not prosecute or for HUD not to rescind the MIP (insurance) on new originated loan so the bank would start providing loan to FHA customers.

  32. IN THE CIRCUIT COURT FOR THE 6TH JUDICIAL CIRCUIT

    CHAMPAIGN COUNTY – URBANA, ILLINOIS

    BAC HOME LOANS SERVICING LP F/K/A

    COUNTRYWIDE HOME LOANS SERVICING, L.P.

    PLAINTIFF

    VS

    A. BERNARD COFFER; HERGET BANK,

    NATIONAL ASSOCIATION; URBANA AND

    CHAMPAIGN SANITARY DISTRICT OF

    CHAMPAIGN COUNTY, ILLINOIS; STATE OF

    ILLINOIS; UNKNOWN HEIRS AND LEGATEES OF

    A. BERNARD COFFER, IF ANY; UNKNOWN

    OWNERS AND NON RECORD CLAIMANTS ;

    DEFENDANTS

    09 CH 209

    2402 PROVINE CIRCLE

    URBANA, IL 61801

    NOTICE OF SALE PURSUANT TO JUDGMENT OF FORECLOSURE UNDER ILLINOIS MORTGAGE FORECLOSURE ACT ***THIS DOCUMENT IS AN ATTEMPT TO COLLECT ON A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE*** PUBLIC NOTICE IS HEREBY GIVEN that pursuant to a Judgment of Foreclosure and Sale entered by said Court in the above entitled cause on February 21, 2013, CHAMPAIGN COUNTY SHERIFF in CHAMPAIGN County, Illinois, will on May 24, 2013, in CHAMPAIGN COUNTY COURTHOUSE, JURY ASSEMBLY ROOM, 101 EAST MAIN STREET, URBANA, IL 61801, at 9:00 AM, sell at public auction and sale to the highest bidder for cash, all and singular, the following described real estate mentioned in said Judgment, situated in the County of CHAMPAIGN, State of Illinois, or so much thereof as shall be sufficient to satisfy said Judgment:

    TAX NO. 93-21-20-480-010

    COMMONLY KNOWN AS: 2402 PROVINE CIRCLE URBANA, IL 61801

    Description of Improvements: BROWN BRICK TWO STORY WITH A TWO CAR ATTACHED GARAGE/UTILITIES ARE ON***SEE TITLE COMMITMENT The Judgment amount was $210,380.34. Sale Terms: This is an “AS IS” sale for “CASH”. The successful bidder must deposit 25% down by certified funds; balance, by certified funds, within 24 hours. NO REFUNDS. The subject property is subject to general real estate taxes, special assessments or special taxes levied against said real estate, water bills, etc., and is offered for sale without any representation as to quality or quantity of title and without recourse to plaintiff.

    The sale is further subject to confirmation by the court. Upon payment in full of the bid amount, the purchaser shall receive a Certificate of Sale, which will entitle the purchaser to a Deed to the real estate after confirmation of the sale. The property will NOT be open for inspection. Prospective bidders are admonished to check the court file to verify all information. The successful purchaser has the sole responsibility/expense of evicting any tenants or other individuals presently in possession of the subject premises. If this property is a condominium unit, the purchaser of the unit at the foreclosure sale, other than a mortgagee shall pay the assessments and the legal fees required by The Condominium Property Act, 765 ILCS 605/9(g)(1) and (g)(4). IF YOU ARE THE MORTGAGOR (HOMEOWNER), YOU HAVE THE RIGHT TO REMAIN IN POSSESSION FOR 30 DYAS AFTER ENTRY OF AN ORDER OF POSSESSION, IN ACCORDANCE WITH SECTION 15-1701(C) OF THE ILLINOIS MORTGAGE FORECLOSURE LAW.

    For Information: Visit our website at http:\\

    service.atty-pierce.com. Between 3 p.m. and 5 p.m. only – Pierce & Associates, Plaintiff’s Attorneys, 1 North Dearborn, Chicago, Illinois 60602. Tel. No. (312) 372-2060. Please refer to file #PA0910078 Plaintiff’s attorney is not required to provide additional information other than that set forth in this notice of sale.

    I522249

  33. No guest, he has not gone to legal aid about this latest scam. One of those free attorney’s he reached out to in the begining actually threw him under the bus, and saw to it his title was “cleaned up” and transferred to a real estate agent. They erased his name from the public property records as ever being an owner. He has the original records of what they did. I told him he needs an attorney for this because what they did to him was just horrible. I hope he finds someone honest to take his case because he did not deserve this.

  34. I appreciate the way Elizabeth Warren openly attacks these crooks. I don’t differentiate between the Senate, the Congress or any politician or agent of an agency or business or media outlet who lies and covers up for the wrongdoings of themselves or another. Whether they are covering up for financial crimes of the big banks, Wall Street, or crimes of a prominent member of the community such as a politician, business or medical professional. Concealment of crimes makes them a party to them and as guilty as sin.

  35. if you have the name of even one case i would appreciate it. I want to get a ruling that they lied in my case and then say well if they lied here where else have they lied. I called the lawyer representing bac in washington and waiting to see if he calls back

  36. …… Trade Secrets? Hell No! Its Treason!

  37. brother n law .. sorry

  38. Gwen, BAC still FCing on NODs/LPs they filed here in Illinois as current as this week. What a bunch of B.S.! Stripes, I agree .. it should not have happened! Your brother can still sue … did you go to legal aid like I suggested? I’m not picking on you .. don’t bite me.

  39. I have personally witnessed the emotional pain and destruction these criminals have caused people and their families by concealing their crimes. It is so heinous it is beyond belief. The coverup has to be stopped. Innocent people are being both secretly and openly terrorized in their daily lives. The toll this has taken on the innocent who had no knowledge of their crimes and were not a party to their crimes is immeasurable.

  40. My brother in law got a check for $3,000.00 for having his townhouse stolen by the homeowners ass without a foreclosure being filed he was evicted from his home without a day in court in a judicial state. He was a hard working man, a union bricklayer and lost his livelihood because of what these crooks did. He has never found a gainful way to make a living since. He is in his late 40s and works at the local jewel grocery store. He went from making $60 an hour to spit an hour. He has lived with his mother ever since his eviction and he is not the same person anymore. He is mentally and emotionally shattered. These crooks are way out of line and need to be held to account for destroying this mans life.

  41. Sue them. Its just disgusting. Hree’s my latest story. BOA is claiming in my quiet title action against them that BAC who I also sued DOES NOT EXIST! Bryan Cave who represents BOA (and BAC) had someoe file an affidavit (Habib is his /her name) that BAC does not exist! Now I know that BAC intervened in the Defalco’s Case in the state of Washington and now I see that BAC also filed an appeal in a case in Washington three days ago–and they continue to get away with this stuff. In my 35 years of being involved in the court system it cotininues to amaze me. ANYONE ELSE HAVE ANY SUITS INVOLVING BAC WHERE THEY ARE ACTIVELY FILING CLAIMS OR ENTERING DEFENSES.

  42. Sit Down All Before You Read This … My Husband received his Settlement Check yesterday. You all know what they did to us after two full reinstatements … Yep … A Whopping $400.00 that they can stick where the sun don’t shine!! Buttwipes!! About $65,000 short. Guess I will have to sue ….. Or shall I wait a few more days?

  43. Thank You Elizabeth for your honesty. They all need to admit they were covering up for crimes and make the proper corrections. They have caused millions of tragedies by covering up their own negligence proves an intent to harm. That is not only criminal, that is evil.

  44. It is gratifying to know that putting people in jail is not the only objective. People who were property owners have been reduced to collecting cans and bottles for the last 4 years while the politicians, lawyers and bankers have been pointing fingers at each other. Go online with the question…”Real Estate Crisis Or Government Sanctioned Racketeering?

  45. How can one obtain the information found re: ones loan from the IFR using the FOIA if one isn’t a lawyer? Yesterday sent an email to Sen. Warren Thanking her as well as informing her since we sent an application to the IFR, (servicer IndyMac/One West Bank who is trying to sell), we would be happy to send her any docs she needs.

  46. What i find amazing is that the GAO report is not mention at all in the Washington Post as the IFR being Botched was never printed any stories. Also they is report that 4,2 million will get something but the payout from the OCC and Fed list are short 250,000 homeowners, so why?

    What it look to me is the Washington Post is working in concert with the White House for Obama to not address an issue of corruption that even the Federal Government independent GAO office has put out a report after the last year report by the US Treasury report saying the OCC could not find water if being waterboarded!

    How does the OCC who received so many complaint since 2009 and as what was leaked by reviewer from the Independent (wink wink) Foreclosure Review Board that people sent in as many as 2,000 pages and 100 document in one file stating their claim of harm.

    Understand that if no one is the rightful holder of the debt as Ginnie Mae pooled loans, it was impossible for the borrower to ever behind in there payment as the loan is immediately placed into the pool must time before the first payment is due. Once Ginnie is in possession of the blank Note a payment cannot be collected because the hold of the Notes (Ginnie) is not a lender and cannot itself or have for it have a payment collected.

    So when it list only 8 loan foreclosed that a borrower was behind on a payment that not true, because all those Ginnie pooled loan could never be behind, as this is not a “holder in due course” once pooled!

    There is a reason Ginnie is not in title on these loan and that is because as a non-lender who does not purchase the loan debt, so cannot have a lien against the properties. The contract/Note have been broken from also most day one, as the Note is forever separated from the debt and can NEVER be reunited as Ginnie Mae does not possess the debt, because they did not extend any monies because they cannot by law purchase these loans and cannot sell a home mortgage loan.

    You cannot in one statement at the beginning of the IFR as the OCC talk of you finding widespread corruption and agree to a settlement, then in Sept 2012 have a statement as a result of a study by you that 800,000 HAMP applications or should have been HAMP process file should have been modified but instead were not and were foreclosed. How does foreclosing on a family with a house as an asset with no legal claims against it and are thrown out that asset, get $100 in exchange for the criminal action!

  47. so what can be done and what cause of action can be filed???? This is disgusting . what can the senate and congress do????

  48. I believe Neil’s term “closing bank” is the same term used internally by banksters as the “vesting assignment”. Although the recorded vesting assignment states “all” rights and benefits, according to the Lavelle Nye Report by FNMA, FNMA retains the right to receive the money, aka, cash flow that legally defines beneficiary interest.

  49. Niel Thank You for keeping me informed.
    What I would like is for all these comments to be going directly to the White House. It would be nice to have a direct way for us to send any comment to the people who are directly in charge of change and to be able to thank those that continue to dig through the dirt to find the truth. Jaime

  50. Look the OCC knew with my file that a ton of these loans where foreclosed by the wrong party as I proved to them Wells Fargo Bank was not my lender but foreclosed as my lender and has confess to the crime in letter form.

    Now what happen to me also happen to each and every government insured loan that was in a Ginnie Mae pool. It not too long coming that what so easy to prove now come to light, as Sen Warren is on the case! Plus I wrote her a little over a week ago and told her to look up the whistle-blower file over at SEC.

  51. Neil, I like your new use of the term “Closing Bank” It sheds light on the use of the term originator. In fact, these loans were all underwritten to be securitized. In most cases, the guy that provided the office or the closing and stuck its name on a note and mortgage as lender, was not the originator, not the funder and not the lender.

    Don’t give them a free ride on their use of these terms. the GSE all try to interpose the actual lender on the final HAMP Docs, yet, still want to be known as the Holder. Can’t be lender pursuant to your charter, but can’t tell investors you do not own the notes.

    Pretty shitty situation…

    As soon as the FRC has bought and sold all he good paper out of the former GSE’s, they will claim they need to be dissolved and the losses left in the shell will be passed on to the taxpayer, and we ain’t talking about this quarter-billion loss bullshit. The MTM losses at FNM and FRE exceed a trillion dollars. The real cash value of these assets were stripped out at securitization.

  52. Neil, I like your new use of the term “Closing Bank” It sheds light on the use of the term originator. In fact, these loans were all underwritten to be securitized. In most cases, the guy that provided the office or the closing and stcuk his name on a note an mortgage as lender, was not the originator, not the funder and not the lender.

    Don’t give them a free ride on their use of these terms. the GSE all try to interpose the actual lender on the final HAMP Docs, yet, still want to be known as the Holder. Can’t be lender pursuant to your charter, but can’t tell investors you do not own the notes.

    Pretty shitty situation…

    As soon as the FRC has bought and sold all he good paper out of the former GSE’s, they will claim they need to be dissolved and the losses left in the shell will be passed on to the taxpayer, and we ain’t talking about this quarter-billion loss bullshit. The MTM losses at FNM and FRE exceddd a trillion dollars. The real cash value of these assets were stripped out at securitization.

  53. People are really waking up. Reporter asking Patrick Devall MA Governor): “Is this another false flag thing?”

    Still moving in the right direction.

  54. Slowly, but surely the crimes are coming to the surface. It has to blow up, because what goes up must come down. Simple laws of physics which the banks, banksters, regulatory agencies, attorneys representing banks, title companies, insurance companies, real estate agents and brokers, mortgage brokers have hoped and prayed would not happen. The beginning of the end has started. One should take into account that this revelation is not just here in the U.S. It is all across the globe. Go Icenland!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 3,524 other followers

%d bloggers like this: