Gretchen Morgenson: Tide Turning as Judges Get Irritated by Bank and Lawyer Behavior

“Two recent rulings — one in New York involving Bank of America and one in Massachusetts involving Wells Fargo — serve as examples. In the Wells Fargo case, a ruling on Sept. 17 by Judge William G. Young of Federal District Court was especially stinging. In it, he required Wells Fargo to provide him with a corporate resolution signed by its president and a majority of its board stating that they stand behind the conduct of the bank’s lawyers in the case.”

Editor’s Comment: As I am litigating directly now I see evidence of the same trends discussed in the New York Times article. I adopted a different stance than most foreclosure defense attorneys whose strategies are not less valid than my own. They just don’t suit me. I am accustomed to being the aggressor. So I enter a cases in which the bank has been delaying prosecution of the foreclosure case and step up the pace. The Judges here in Tallahassee and elsewhere are taking note — that the banks are curiously opposing our attempts to move the case along. The resulting shift in perception is palpable. Judges are looking at the files and realizing that it is not because of borrowers who frankly did nothing in the file, but because of the banks who never prosecuted the case.

We ask for expedited discovery and a trial order. The bank attorneys inevitably back pedal and state they cannot agree to expediting the case — which has led the Judges to muse aloud about who is the Plaintiff and who is the defendant.

You would think that the bank would be anxious to produce its witnesses and exhibits for discovery. They are not. In one case the bank has been thwarting the deposition of the person who verified the complaint for over three months.  We only asked for the documents upon which the witness relied when she verified the complaint — something that obviously had to exist before they could file the complaint. So far, no witness nor documents.

When I was representing banks in foreclosures, if someone raised any kind of defense or objection I went out of my way to produce the records custodian,and all the records and proof of the receipt of the money including canceled checks and the bookkeeping records of the banks so there would be no mistake about the existence of the default. I would carefully confirm the figures and history of the borrower before I sent the notice of default, acceleration and right to reinstate because all my figures had to be correct — or else the notice was defective and I would have had to start all over again (something I learned the hard way).

Judges are sensing a disconnect between the banks and their alleged lawyers, and they are right to question that. The assignment usually comes from LPS and the Plaintiff bank usually has no direct knowledge of the action because LPS fabricates most of the documents. That is why Judge Young said that if you want to proceed, I want to see a resolution of the Board of Directors of Wells Fargo bank that they ratify and accept the actions taken by the the attorneys supposedly representing them.

You can almost feel the vibrations of a ship groaning as it makes a turn. The banks are in for a rude awakening.

Fair Game

Why Judges Are Scowling at Banks

By GRETCHEN MORGENSON

District court judges are not generally known as flamethrowers, but some seem to be losing patience with banks in cases involving lending practices.

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46 Responses

  1. I’m Waking up….. I feel it in my bones.

  2. Right on Charles I get every word you you’ve conveyed. You are absolutely deals on, and have been dealing with the blank note business going on 5 years of litigating. Am not any closer now to the end than I was at the start. Asked for you contact info months ago …we …you and I are fighting the same battle verbatim.
    007

  3. ………….Strike-three-banks-should-be-out-of-the-foreclosure-business……..Fwd: More deposes and declarations on the notes being shredded and never transferred.

    More deposes and declarations on the notes being shredded and never transferred.

    http://libertyroadmedia.wordpress.com/2013/10/07/strike-three-banks-should-be-out-of-the-foreclosure-business/comment-page-1/#comment-85

    http://deadlyclear.wordpress.com/2013/10/07/state-ags-settle-with-lps-for-113-million-only-nobody-knew/

    http://stopforeclosurefraud.com/2013/08/29/kabooom-declaration-of-stehrenberger-similar-to-kelley-v-jpmc-affidavit-of-karyn-armstrong-wamu-shredded-original-notes/

    http://stopforeclosurefraud.com/2013/08/28/in-the-matter-of-kelley-v-jp-morgan-chase-bank-adv-proc-10-05245-ch-11-08-55305-canb-destruction-of-collateral-files-the-affidavit-of-karyn-

    BOMBSHELL REVELATION: ALL WAMU LOAN DOCS WERE UPLOADED TO MERS & DESTROYED

    “The reason “many firms file lost note counts as a standard alternative pleading in the complaint” is because the physical document was deliberately eliminated to avoid confusion immediately upon its conversion to an electronic file. See State Street Bank and Trust Company v. Lord, 851 So. 2d 790 (Fla. 4th DCA 2003). Electronic storage is almost universally acknowledged as safer, more efficient and less expensive than maintaining the originals in hard copy, which bears the concomitant costs of physical indexing, archiving and maintaining security. It is a standard in the industry and becoming the benchmark of modern efficiency across the spectrum of commerce—including the court system.”

    http://www.nakedcapitalism.com/2010/09/more-evidence-of-bank-fubar-mortgage-behavior-florida-banks-destroyed-notes-others-never-transferred-them.html

    http://www.floridasupremecourt.org/clerk/comments/2009/09-1460_093009_Comments%20%28FBA%29.pdf

    **********************************************************************************************************************************************************************************************************************

    During the testimony in favor of SHB 1435, the Washington Land Title Association spokesman, Attorney Stuart Halsan, made these comments.

    “…and if you start requiring the original note that has been gone through, I don’t know how many hands, but the collection is being done by a servicing company that we know of. If you require that original note, NONE OF YOU WILL EVER BE ABLE TO SELL YOUR PROPERTY EVER! YOU JUST WON’T! and that is my weak understanding of this thing…” [I, Shelley bhave a transcribed copy of this testimoney email me for this transcript]

    ***********************************************************************************************************************************************************************************************************************

    Where, oh where have the Washington Mutual Bank FA original loan documents gone?

    Uploaded to MERS then

    Gone to shredders everyone.

    When will they ever learn? When will they ever learn?

    Remember those big moving trucks being loaded with scores of WAMU loan documents down in the heart of Texas and then transported to Mexico as caught on film by a local TV news group. The saga continues.

    Today intrepid foreclosure fighter, Dr. James Madison Kelley, provided a copy of the sworn affidavit of WMBFA borrower, Karen Armstrong, to be filed in US Bankruptcy Court in San Jose, California in support of his adversarial proceedings against JPMorgan Chase Bank NA and Washington Mutual Bank FA The revelations may prove to be groundbreaking relative to the locations (or absence thereof) of the true blue-ink original mortgage loan documents, i..e. Notes, Mortgages, Deeds of Trust.

    Karen Armstrong, stated under oath that in July and Augus 2013 she had spoken three times by telephone with Chase employee, Ashley Curry, of the Chase Executive Offices concerning the destruction of all the Washington Mutual Bank FA original loan documents after uploading. These conversations took place after Chase Bank assigned Curry to investigate Armstrong’s complaint regarding the Independent Foreclosure Review by Rust Consulting. During the course of their conversation Armstrong requested color blue-ink copies of the original loan documents.

    In a subsequent follow-up telephone conversation Armstrong asked Curry what the status was of her request for colored copies of the original note, deed of trust and the rider that went with this loan. Armstrong learned from Ashley Curry that there was no way that Curry could get colored copies for Armstrong because all the original loan documents were destroyed after being up-loaded into the Mortgage Electronic Registration System (MERS).

    Further more Armstrong learned from Curry that by law, MERS had to give her the documents and that Armstrong request them through the MERS process. This was very confusing to Armstrong because according to my black and white copies of the collateral file MERS is not the beneficiary.

    Curry stated that it did not matter if Armstrong’s loan was associated with MERS because all Washington Mutual Bank, FA original notes, deeds of trust, and other legal documents were destroyed.

    So where oh where have all the foreclosures gone?
    Gone to courthouses and auction blocks nearly everyone . . .
    When will they ever learn? When will they ever learn?

    THE AFFIDAVIT OF KARYN ARMSTRONG

    I, Karyn Armstrong, state and affirm as follows:

    1. I am over the age of eighteen years, am of sound mind, have never been convicted of
    a felony or crime of moral turpitude; I am competent in all respects to make this
    declaration. I have personal knowledge of the matters declared herein, and if called to
    testify to the same, I could and would competently testify thereto.
    2. This affidavit concerns statements made to me by Ashley Curry of the Chase
    Executive Offices concerning the destruction of all Washington Mutual Bank FA
    original loan documents after uploading.
    3. On June 17, 2013, I spoke on the telephone to Ashley Curry and learned me that she
    was with the Chase Executive Offices and was assigned to investigate my complaint
    regarding the Independent Foreclosure Review (IFR) by Rust Consulting.
    4. I asked Ashley Curry what she needed from me in order to investigate my claim. I
    learned that Ashley needed the notices of default and the bankruptcy discharge
    documents. I was clear with her, that I started the bankruptcy process in early
    December 2009 and the bankruptcy was not final until June 2010. I sent the
    bankruptcy documents to her by email per her request.
    5. During this phone call, I asked Ashley if she could send me a color copy of the
    original note, deed of trust and the rider (the collateral file) for my loan. She told me
    that she would look into it and get back to me.
    6. On June 21, 2013, Ashley Curry called to let me know the findings of the IFR
    investigation. I learned from her that the matter was resolved and my foreclosure
    happened after the bankruptcy was final so the payment of $300 was correct.1 I
    learned from Ashley that I might be able to appeal the decision and she stated that she
    would get back to me.
    1 This is not true. I was peppered with notices of default in 2009 and the early part of 2010 after I filed
    bankruptcy.
    7. I asked Ashley Curry what the status was of my request for colored copies of the
    original note, deed of trust and the rider that went with this loan. I learned from her
    that there was no way that she could get colored copies for me because all the original
    loan documents were destroyed after being up-loaded into the Mortgage Electronic
    Registration System (MERS).
    8. I learned from Ashley that by law, MERS had to give me the documents so I should
    request them through the MERS process. This was very confusing to me because
    according to my black and white copies of the collateral file MERS is not the
    beneficiary. I learned from Ashley that it did not matter if my loan was associated
    with MERS because all Washington Mutual Bank, FA original notes, deeds of trust,
    and other legal documents were destroyed.
    9. The last time I spoke to Ashley was on July 11, 2013 when I learned from her that she
    had received my email and the Chase attorneys were not finished. I did not hear
    anything for a week. As of August 21, 2013, I have not received anything in the mail
    responding to the letter that I sent to her on June 21, 2013 about the appeals process
    for the Chase decision. I have called Ashley Curry leaving messages at least twice a
    week. Her voicemail claims she will get back to all callers within 24 hours but as of
    today (August 21, 2013) I have received no return call.
    10. I called Rust Consulting on August 21, 2013 and was told that my case # xxxxxxxxxxx
    was closed, that the final decision was that the $300 payout was appropriate and that I
    had no right to appeal their decision. However, I was not restricted from pursuing this
    decision legally on my own.

    Further the Affiant Saith Naught.
    Karyn Armstrong Affidavit


    Posted By Lady Justice to VICTORY OVER CHASE at 8/28/2013 01:15:00 PM

    Now add this deposition to all the above.

    .http://www.stellionata.com/in-the-news/38-headlines/7662-120509-jpmc-v-waisome-lawrence-nardi-deposition
    http://libertyroadmedia.wordpress.com/2013/07/11/fannie-mae-by-its-own-admission-owns-nothing/ Freddie and Fannie had a policy they were never to receive the notes. Look at the articles under comments on this article.

    A good letter to hand to new clients to bring them up to speed on what you need from them. A deep breath and be patient. Speed them up emotionally to work with their lawyers and be calm as you can be while our worlds are torn apart. http://mortgageforgery.wordpress.com/2013/10/08/feeling-the-anger-fighting-the-pain/

    =) http://deadlyclear.wordpress.com/2013/10/07/kiss-my-fannie-mae/#more-5067

    http://deadlyclear.wordpress.com/2013/09/25/welcome-to-freddie-and-fannies-mortgage-shell-game/

  4. johngault, (or,twimconcern)
    If I may, what don’t you understand? I understand Charles just fine. I think if anything the frustration may come from how Ginnie works?? As far as I have noticed on here GNMA vs fannie/freddie loans are very far and few in between. The difference between the two is extremely significant, trying to apply circumstances dealing with a Ginnie loan will end up making you more confused if you have a f/f. Ginnie ONLY guarantees the timely payments made by the servicers to the investors. Thats it. They do not buy, sell, originate nadda, only guarantee the payments get to the purchasing investor on time. The issuer of the MBS is typically the servicer, they take the loan, “pool it” and sell it to the investors. (of their agent/brokers sell the MBS) But Ginnie never, and cannot, sells them because they cannot/do not buy them. When the issuer /servicer originates or makes a loan they must submit documents to Ginnie that literally states they “relinquish all rights” to the loan. Literally. They MUST sign these documents that say they release all and any rights of all the loan documents, any interest they had in them, any creditors rights etc, –or the loans will not be eligible to be pooled.
    The issuer that now has relinquished all his rights also MUST endorse the note in blank – so if the issuer/servicer its self goes into default, goes bk, whatever, Ginnie already has all rights to the mortgages & payments for those pools the servicer used to take care of.- or, send the homeowners payments to the underlying investor holders of the pool and then more or less assigns a new subservicer to continue the job. Ginnie guarantees these investors their payments – thats it. If the servicer comes to court with a note in hand – they cannt say they are holder because they are not- and if they think they are- they have to have interest in the mortgage- equitable foreclosure-well, they don’t. They literally can’t, they signed away ALL interest they had to GINNIE. And Ginnie CANNOT come forward as the holder period because the only damn thing they do is guarantee payments. They write all over ‘ they do not buy or sell loans’ doooooo not. They cannot be a debtor, nor creditor, just an insurer, by means of government insured loans paying out defaulted loans if he borrowers go ass up. Fannie and Freddie – they BOUGHT the loans. Ginnie did and does not.
    If that is not what you were talking about – oops. Maybe some random Joe scouring the net will learn a thing or 2.

    “However the public is still under impression that borrowers including FHA where buying more home than they could afford with loan that it is though that they did not supply income documentation.”- Charles Reed

    E. ToLLE

    My interpretation :
    People have/had the impression others were taking out mortgages too enormous for their budget and they did it having no supporting documentation proving they could indeed pay it. .something like that.
    I talk with lots of Hmongs so if it’s more or less word misplacement or lack of, it makes sense to me.

    If I helped, great, if not drinks on me *smile* I tried. I dont know if your referring to GNMA stuff or not so…. cheers

  5. Charles – I think you have something valuable to say for sure. E. tolle is right, though. We can’t understand what it is. If you’re not a plant or kook (and i think neither), you do appear to suffer from poor writing skills and I’m guessing it’s a poor education you’ve worked hard to deal with, which anyone would applaud. Must be frustrating to be bright but missing some necessary skill. However, because at least I am interested in what the heck you’re trying to convey, don’t you know someone who can help you say it? Spellcheck isn’t going to get it.
    You need someone who can re-write what you’re trying to say…….just a thought and like I said, I’d like to know what you’re saying.

  6. Alert!
    Glaski v. Bank of America, N.A. | Updated Docket . . . Note: Attempt to DEPUBLISH case.

    Respectfully,
    DinSFLA

  7. UKG is a great guy, I have been in touch with him. She sure has some goooood work, maybe I’ll look in to that.

  8. E. ToLLe your right on the grammar, however you take away from the point I am trying to make, and that is that a guy who really is just an ex-US Army Infantry soldier is telling one of the foremost financial writers in the world how the basic qualifications of government insured loans, to year into the largest financial crisis/crimes the world has ever seen.

    How do you categorize an entire group as these deadbeats without knowing the processing of the loans. Maybe here or other places when three years ago I started calling the Ginnie Mae MBS a Ponzi scheme, it was not known as to the underlying collateral for these securities were are are smoke and mirrors and the debt is not owned by the holder of the blank Notes.

    Obama writes a million time better than I do but he stuck of stupid because he like a Morgenson are to above me to call and clear up the matter at hand. So over two years ago I submit a whistleblower claim to the SEC about the Ginnie Mae pools, and have had the letter exchanged with the HUD Secretary and Senior VP at Ginnie Mae about the ownership of the loan debt, so do you really feel that they don’t know (bad grammar and all) what the heck I am talking about?

    I have been made to deal with a situation that I was not prepare to address by writing, but the knowledge of how Ginnie Mae securities are establish and traded and disposed of, are my thing and I was even at first told by Ginnie Mae senior people that they never had (2yrs ago) had ever talked to someone who knew as much as I did, about Ginnie Mae MBS.

    I needed help expressing my thoughts on paper but that been impossible because the attorney an only until a couple a months ago still felt that even that it may or may be the correct party that foreclose, a debt existed and so any action was just prolonging the inevitable of foreclosure. Well that was never true because the parties calling the debt due never could call a debt that was not due to them due. Also the party that the servicers were later saying they were acting for in Ginnie Mae does not have the ability to call a debt due, because no debt is due to them.

    It still a failure by all to not realize that if you sign a Note endorsing it in blank and physically relinquish it and there is not a exchange for money, the debts no longer exist as the Note is no longer a Note, but just a piece of paper with no legal ability.

    And one other thing that I heard and want to dispute is that these blank Notes cannot just be handed around without each and every time there needs to be a sell and endorsement or the documents become non-negotiable!

  9. Justme,

    You’re in WI, right?

    Have you been in touch with UKG? He has a cracker jack of an attorney, a woman with a mission.

  10. I like ventura, “enough of this war crap” don’t forget to talk about my book.” .just kiddin I get it, get the word out and yes indeed people are waking up- we live in exciting times.

  11. Thank you Christine.
    I want to go through with msj I really do not see them getting it .The Judge set it aside once because he needed to better look over what the parties had filed and there is just too much to wipe it off for msj and I have a good Judge. But in the end, a mod is what I am guessing the Judge aims for? I have stacks of proof and if goes how it should, I should be able to do HAMP because HUD said my loan should not of been FHA insured, the servicer fibbed the applications for FHA to insure it. – and in the process swindled Ginnie Mae by pooling it. I have the original note w/ NO endorsements on it – the servicers note with an endorsement to them they filed as ” true and certified” & ” original” several times………then the final note the attorney brought that was the original original with the blank endorsement. Ha ha. I wrote the servicers for the real real truthful note after the attorney came to court with this last one – they sent me the second one with no blank endorsement. Lovely attorney filing a note the servicer does not even know they have….The last one, w/ the blank endorsement has written marks on it the previous one did not have. I pointed out to the Judge (in a filing) it is scientifically impossible to have a document with a symbol or writing on it that does not contain that symbol or writing in the same previous document unless it’s been altered or forged.
    I have really really strong evidence but still, who knows what the Judge will do! I do not want a mod with them. We had one years ago they did and it made our payments go UP that put us in the mess we are in now. Good cause to not want to do another with them I’d say! I want to take this to trial – I only think they extended it so they had more time to make their defense against the last brief I filed because It’s killer and gave them less than a week to reply to it for msj. But in all reality – my family will suffer if I refuse to play the puss and back down and take the mod. I do not want attorney, but it just may well be a good thing. FAWK.

  12. Justme,

    You seem to have a clear picture of what’s going on.

    Actually, now might be the time to look for an attorney. If anything, an attorney can definitely help you by negotiating a really, really good mod (if it’s what you want) and stop the bank from the dual tracking thing of putting you in the trial mod while foreclosing at the same time. A lot of legal aid societies specialize in helping homeowners with mods and they are good at it.

    Anyone i meet who is in the process of negotiating a mod, I immediately refer to my own attorney. So far, he’s helped people cut their monthly payments by 40 or 50% without the loan being extended to 40 years. What you don’t want is lock yourself into a situation you can’t get out of because, remember: if you go the HAMP way, you’re only allowed one bite of the apple. You default and this is it! No more options but foreclosure.

  13. I would appreciate some “thoughts” please. (none taken as advise…)
    I’ve been put into mediation and it seems rather worthless. The lady said it is something where they will work to get the servicer to lower the interest, principal forgiveness….
    They want me to do HAMP.
    They extended the MSJ even longer and I think it would be stupid of me to play along with this. In the meeting the servicer (on phone call) said there will be no forgiveness, no interest reduction….
    But as well, I think it would be stupid of me to not try because in the end a messed up mod would be better than no home.
    So – question. They put you on HAMP ( which the servicer NEVER) participated in before- and I ‘trial’ it for a few months – meanwhile – the attorney for the servicer said he would ask the case be dismissed and I drop my counterclaims.
    Not happening.
    Is that the scheme here? Stick you in a trial, meanwhile get you to drop all you have done pro`se, and then sabotage the trail and caome back to foreclose!?

    Really would appreciate your thoughts here.
    Thank you

  14. I didn’t hear that. Where did you get that from? Was it on that interview? Did i miss it?

    Damn! I hope you’re kidding!

  15. Hey Christine, I think you know me by now, I’d vote for Jesse Ventura in a heartbeat over the clowns offered up by the two parties….

    EXCEPT….

    He wants Howard Stern to be his running mate? Are you &*^king kidding me? What in the hell is he thinking? If at all?

  16. So, we’ll have thousands of 18 wheelers and hundreds of thousands of vets. This is getting really, really good!

    Monday, October 7, 2013
    MARCH in DC This coming Weekend

    Remember–stock up before the 11th and stay home..call the media if they are not reporting what is going on and tell them they need to do this..

    Do your part, how very little it may be!

    This will be a game changer and will be another pivotal moment to usher in the new interim government which has been waiting a long time for the rightful, coelevise and reportThis Weekend

    New post on 2012 The Big Picture

    One Million Veterans to March on Washington DC October 13th, 2013 by 2012thebigpicture

    October is shaping up to be quite a month.

  17. Me think this government shutdown is becoming fun …

    “Due to the current situation, all IRS offices are closed. We hope to reopen as soon as… blahblahblah”

    Here’s the number to call if you need a good giggle 1-800-829-0922

  18. Gheez Charles, do you not see how someone would question your understanding of issues, when you write, “….that the school you went to is not important but if you have not went to a school for finance….”

    I’ve jumped your case before, and I don’t mean to simply be a bitch on you or to come across as the grammar police, but I just can’t for the life of me understand how you think you can interact with people in government agencies and the MSM when you say things like:

    “However the public is still under impression that borrowers including FHA where buying more home than they could afford with loan that it is though that they did not supply income documentation.”

    Whiskey Tango Foxtrot Charles! How can you expect anyone to take you seriously? Do you stop to read what you write? Do you have spellchecker? Are you on meds? Should you be?

    My apologies in advance if you are in fact Nigerian. Otherwise, slow TF down and watch where your fingers strike the keys. For everyone’s sake. You’re doing more damage than good to the effort, like a well meaning pro se screwing the law for a generation by bad arguments. Once more….gheez Charles.

  19. Christine, I might be a little hard on Ms Morgenson because she told me I did not know what I was talking about with the FICO score and I had preform hundreds of them under a 600 FICO score. As I ask to simply call FHA to ask she said she did not need to because it was not correct.

    Now I do agree that the school you went to is not important but if you have not went to a school for finance or worked in the field it would be impossible for you to understand the practical application of how all these part work with one another.

    However at the beginning of this mess Morgenson wrote with such certainty that I feel her written word was taken as gospel and and help cause a distraction from the banks and place more blame on the home owners as if they were in the driver seat, when in fact that was far from the case.

    But even now I see she catching on to the game but she does not go back and tell the readers of her initial miscalculation. However the public is still under impression that borrowers including FHA where buying more home than they could afford with loan that it is though that they did not supply income documentation.

    Now when she writes there no way to comment as she has eliminated that section I feel because people are more educated to what occurred.

    Let take this last situation with JPMorgan and the $11 billion offer to the Justice Dept and why is she not all over that story? How do we take serious these writers and the crooks are over confessing to the crimes lawsuit have been filed and we been commenting on for years now.

    My big problem is like Obama when he talks and he has some dealing with finance (1yr) and worked against Citi for the racial discrimination in Chicago starting in 1995, a case that beat Citi but this guy transfers responsibilities to homeowner with a wide brush and gives to banks a pass by saying their actions where not illegal but people acting badly in the gray area, which to him was unethical, but not illegal.

    If your going to take on the job of informing the public, I feel when your off center and people have made there mind up because of your expert opinion you need to go back and correct that!

  20. Charles,

    I won’t go into a fight over something as insignificant. And, quite frankly, I don’t care who went to Haahvaahd and who has what diploma. In fact, it has become an indictment in my book.

    I’ll range with Mr. Muscle who never went to any prep school or Ivy League (I might even agitate to close them altogether) but shows solid, sturdy common sense, and I’ll go for moral courage any day of the week. Nothing more. Just moral courage. You know… what America has lacked the most in the past 30 years.

    Did you file your taxes this year? Did you pay them? If yes, you’re not in my book either.

  21. Christine, Ms Morgenson did not graduate from school with a financial degree and she as she worked at a brokerage for three years, makes her qualified to find the restroom as there was no way she could have learned what we are dealing with in 2008 and she last worked selling a couple people some stock last in 1984!

    She like everybody else is just know finding out how securities works and the crisis started in 2007. The LIBOR been rigged since 1991 and did she report on the matter before the London whale?

    I am hard on her because what begin discovered now I wrote her about these securities over 2yrs ago along with the BS going on at the FHA which last Nov 2012 its reported that FHA had a $70 billion loan losses. But you have 100% of the government insured loan are full income documented and 98% are fixed interest rate and fixed terms not over 7% for most, yet you got 700,000 FHA loans foreclosed during 2009-2010 that the borrowers applied for the FHA HAMP & HAMP but they were not even reviewed but instead foreclosed.

    It was at first Ms Morgenson opinion until she finally was proven to be wrong as to the FICO score, that these loan were not some Stated Loan/Liar loan.

    I guess what made me so mad was that I was actual preforming these loan for people with challenged credit or new young people who in NE are not being foreclosed like the rest of the country because unemployment is 4%. Most people loss their homes because of the lost of jobs and not some crazy mortgage loan!

    Obama started out at some brokerage and this dude was clueless about the larger corruption because this stuff was just to hard for outsiders to get because it does not make sense, because its a freaking Ponzi scheme.

  22. This guy never went to Haaahvaaahd. He’s got common sense the likes of which we don’t see anywhere. He is non-violent and he… doesn’t give a shit about TV, media, banks and the likes.

    I like that guy. I’d go for him in a jiffy. In fact… I will!

  23. Nobody has to believe it but it is… what it is.

    Switzerland realizing that the best way to incite people into working is not by beating them to a pulp but rather by encouraging them to do what they like and are good at. It’s a try worth looking at. If you didn’t have to struggle to simply survive, what would you do? Where would you do it? Psychologists have long known that when people do what they really like, they never clamor for vacation. And things get done! In fact, they are much, much effective.

  24. I guess eventually people will get it.

  25. Oh… and just for those who still use their brain…

    The truckers’ DC shutdown planned for months is still on. Thousands of them are already heading to DC from everywhere in the country, to show up starting on 10/11, with pick jam on 10/13/13. Which means that for a week or so, your grocery stores may not have enough to stock the shelves, as evidenced by what happened in France in 2010.

    It may make sense to stock up on a few, non perishable necessities. You know… toilet paper, tooth paste, pasta, beans, rice and such. Those things have a nasty habit of vanishing first.

    I love it when people finally start taking action. Especially in those big machines. Tough to climb into a locked truck and try hand-cuffing the driver…

    http://www.usnews.com/news/articles/2013/09/30/dc-shutdown-is-full-speed-ahead-say-organizers-of-trucker-protest

    There may or may not be a government shutdown in October, but truckers are heading toward Washington, D.C., regardless, aiming to shut the city down themselves.

    “The shutdown is actually a traffic jam,” former country music star and event organizer Zeeda Andrews told U.S. News. “This is a three-day traffic jam.”

    Andrews, a former spokesmodel for Mack Trucks, says around 3,000 truckers are planning to zoom through and around Washington, D.C., beginning Oct. 11. [From what I hear, more are now joining. Fed-up is kinda... contagious!]

    There are two distinct issues at hand. The first is a range of frustrations experienced by independent truck drivers not employed by a large company or affiliated with a union.

    But the truckers are also targeting President Barack Obama and the nation’s political leadership. A list of demands addressing “corruption against our Constitution” will be delivered to lawmakers before the ride, Andrews said, and lawmakers can spare D.C.-area residents the traffic jam if they agree to them.

  26. Remind me of the documentary Food Inc. The men behind it said so many things had to be redacted and the rest had to have approval of attorneys just to disclose what was disclosed.

    Back then it was the ‘in thing’ to not know what was really going on, now everybody wants to be the first to discuss a piece of the problem, but the system does not allow them to put everything in one place. Even a court case that has everything in one place is likely to have a gag order or be sealed, and any settlement with everything in place would have a non-disclosure agreement.

    Charles Reed, I hear you. They give just enough but can’t reveal it all. If it’s news worthy they can stretch a problem out for a long time even if they have everything they need to know. Kind of like sitting on the information to keep people coming back to you for it.

    Allies of Humanity said, if you believe only in what you see, you’ll believe only what is shown to you. (paraphrased)

    I know many people who see and are blind to what’s really going on or purposely not disclosing what is known because the masses can’t handle full disclosure at once and they can be accused of creating a panic, or a riot, or some other form of mass consciousness that does not benefit the people who want to remain unknown.

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

  27. With all due respect, Charles Reed, you ought to find out about people before deciding that they have or haven’t done something. If anything, it may make you look a bit more… shall we say… aware?

    Morgenson graduated in 1976 from Saint Olaf College in Northfield, Minnesota with a B.A. degree in English and History. She went to work as an assistant editor with Vogue magazine, eventually becoming a writer and financial columnist. In 1981 she co-authored the book The Woman’s Guide to the Stock Market and that same year joined the Wall Street stockbrokerage, Dean Witter Reynolds where she remained until January 1984. She returned to writing on financial matters at Money magazine and in late 1986 accepted an offer from Forbes magazine to work as an editor and an investigative business writer. In mid-1993, she left Forbes magazine to become the executive editor at Worth magazine but in September 1995 took on the job of press secretary for the Presidential election campaign of Steve Forbes following which she was appointed assistant managing editor at Forbes magazine.[3]

  28. The members of Congress have balls – they are just “pea Balls” and do not register on the scan. Hey, the turtle is more than the head that is out of the shell, LMFBO.

  29. BoA scumbags always reading our sites.

  30. @ john gault
    scroll down the left margin:
    Top Articles & Product Picks
    Top Articles & Pages for Last Week
    Top Articles & Pages Last Month
    Top Articles & Pages of the Year: 2012
    Top Articles & Pages of All Time

  31. Ms Morgenson now just enough to mislead the public, as she is not smart enough to understand the full picture, because she never worked in the financial sector and its just to impossible for her to process the type of information as it relates to practical application of the product.

    Morgenson is handicap as FBI is handicap were they need banking insiders to help them understand what they are investigating. It was at least 2yrs after I told her and she responded that she did not believe me that FHA loan had no FICO score requirement until the 580 score was place as a requirement for a 97% loan by Sec Donovan in Jan 2010.

    So for the next two years Morgenson was reporting as if FHA borrowers were these stated loan borrowers, who were lump into the smaller lair loans. No industry insider had a vehicle to dispute her opinion what actual went on.

    These reporters are in many ways handcuffed as the banks are so powerful that a wrong statement can result in a lawsuit, so their article are lacking the whole truth and half the truth is very misleading at best.

  32. Her work as a major press reporter is crucial, because there is always another dirty bank lawyer around the corner:

    http://mortgagemovies.blogspot.com/2013/10/marinosci-law-groups-steven-m-autieri.html

    Monday, October 7, 2013

    Marinosci Law Group’s Steven M. Autieri Caught Abusing NH notary Over Linda Green & Sand Canyon Crimes.

  33. Exactly. I commended her on this recently as well.

    http://mortgagemovies.blogspot.com/2013/09/kingcast-and-mortgage-movies-celebrate.html

    Monday, September 30, 2013

    KingCast and Mortgage Movies Celebrate Judge Drain Contempt Sanctions Against Bank of America in Ramos v. BoA BK SDNY No. 10-23019.

  34. Does anyone know how to get to older posts here? I just inadvertantly deleted my links.

  35. Christine
    its called undescended testicles. they have never been tested, I blame their mothers. could not resist, not having a poke KC, im cool.

  36. ROFLMBO! Now that’s the Christine I know! :)

  37. Sorry guys… I simply couldn’t resist. :)

    FULL BODY SCANS AT THE AIRPORT:
    The T.S.A. just disclosed the Airport Screening Results –
    October 2012 Statistics On Airport Screening From The Department Of Homeland Security:

    Terrorists Discovered 0
    Transvestites 133
    Hernias 1,485
    Hemorrhoid Cases 3,172
    Enlarged Prostates 8,249
    Breast Implants 59,350
    Natural Blondes 3

    It was also discovered that 535 members of Congress had no balls.

  38. “You would think that the bank would be anxious to produce its witnesses and exhibits for discovery.”

    First hand experience: we demanded that the bank produce the “most knowledgeable person” as to the account. Some woman came. Ten minutes into her deposition and after the bank’s attorney objected to one question after the other, as it had become painfully obvious that the woman knew jack about the case, the account or even the party she represented (her employer, mind you), the deposition was cut short… by the bank! As far as exhibits, it is a pathetic joke! We have the names of the employees i dealt with, the dates i went there, the subject discussed and they still haven’t managed to simply produce the computer print-out showing which employee accessed my account on those specific dates and times. Everyone knows that all employees of banks have to enter their code in order to look up any account. For three years, the bank has been stalling producing that doc. Know why? The bank knows damn well it will prove my case better than anything else!

    I ain’t going anywhere until the bank has compensated me for the 5 years of my life they stole. I couldn’t care less about the house. By golly, they’ll damn make sure to give me what I want!

  39. Neil,

    Do you have an attorney referral in Santa Barbara county area??

    Cynthia.

    Sent from my iPhone

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