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Lawyers That Get It – 090909 (2)
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Lawyers to check out: No Guarantees, but we have information that these attorneys are knowledgeable in the defense of foreclosure cases and capable litigators who can defend the property and perhaps even gain the advantage through quiet title or other tactics and strategies discussed here. Most of them have been to one of our Lawyers Workshops and/or have a copy of our Lawyers Workshop Handbook, but you need to talk with them directly as it always important that your lawyers understands what your objectives are and the facts surrounding your particular set of circumstances. Competent local counsel is important as they are familiar with state and local laws and procedures and various idiosyncracies unique to the local forum. We will and do collaborate with them on some cases with regard to assisting with a forensic review, legal discovery research and overall claims assessment and case strategy. Remember the old saying:
A good lawyer knows the law and a great lawyer knows the Judge.
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Maryland attorney Brett Weiss apparently may be a classmate of mine. I am also a graduate of the University of Maryland School of Law ‘77 and obtained my undergraduate degree at The Johns Hopkns University in Baltimore, MD. Another classmate of mine at both UMd School of Law and Hopkins is bankruptcy practitioner Christopher Tsien of Columbia, MD. Chris is the County of Howard appointed “forensic foreclosure examiner.”
Steven Karlton Kop
Attorney at Law
bluejaylaw@gmail.com
310.869.0269
Greg,
Brett Weiss is a very good bankruptcy attorney and has attended the workshops of Max Gardiner. The firm he belongs to is big.
I’ve read some good articles from him.
His Number is 301-220-2200
Here’s the website…
http://www.bankruptcylawmaryland.com/aboutus-brett.htm
Sorry to mention my phone is 540-687-0004
Greg, Please call me so that I can refer to you to some attorney in Virginia/DC,
i am not a worry-wart.,but time is of essence with my case, does anybody know of a law firm in the dc md,virg area that “get’s it”. i am not trying to live fre.e i;am trying to keep my house of over 55 years. already been foreclosed. my first lawyer died unexpectanly. the second lawyer informed me last week, after 3 months that they are not familiar with my case. somebody, please HELP. . i have (what i tink) is a win win plan,but need an competent attorny to present it.
David,
Davis,
David,
I am sorry to hear your experience trying to find an attorney in Virginia. I am also looking for an attorney in Virginia. It is hard to know who to hire but at some point we need to trust someone. Going up against the pretender lenders on our own is no longer an option. Is there anyone on this site willing to share their positive experience with an attorney helping them in their foreclosure defense in Virginia? I need to hire someone soon and I am afraid to just pick one without some kind of testimonials from folks who have used them.
pmbva@yahoo.com
Greg – I don’t mean no harm – but for Brown-Brown-&-Brown does “not” know what they are doing. Been there done that… It took me 2-months just to get my paperwork back. They claimed they had been to Neil’s seminars (this was last year) but I all I heard was – file bankruptcy and essentially hope for the best negotiation. In Maryland the lender can sue the borrower for the remaining balance… I will admit our case is a bit more involved than most – but on the phone – great – everything is honky-dory but sitting there – talk about rescission or any offensive moves – hello, is anyone home… NOPE!
It was a total waste of our time and very frustrating. Maybe they’ve changed – hope so – and if so, I’ll retract this statement but our experience was not good. First consultation cost us 200 bucks .
Our lender has committed multiple counts of fraud – conspiracy to defraud – fraudulent settlement based upon a fraudulent U&O Permit, based upon fraudulent inspections that were never done on the property, which based ultimately based upon a fraudulent incomplete appraisal. They lender conspired “with” the county code official and the builder to obtain a fraudulent U&O to settle our loan. The loan was then sold before we made our “first” mortgage payment. We paid the full mortgage payment for 8-months before finally moving in “unfinished.” The house was never completed and does not pass state or local building codes even today. So, when I speak to an attorney my question is fairly simply – “if” the lender does foreclose “what” exactly are they getting? Because the mortgage note – Deed of Trust that those knuckleheads bought does NOT describe the improvements that are supposed to be here according to the appraisal, etc. So, my question is kind-a simple – how can they hold me responsible because “THEY” were too lazy to do their proper DUE DILIGENCE when they (supposedly) purchased NOTE from the original lender? The original lender is who put the screws to them – NOT ME. But here’s a little twist – I believe the “servicer” table funded the entire deal and they only want an appearance of the mortgage sale to gain the “assignee” shield of added insulation from the borrower… with all that illegal action – hey, who could blame them, right?
Here’s another kicker – according to the PSA – they made Affirmative statements to the Fed that the mortgage properties in the pooling agreement have NO zoning violations – all inspections & permits are legal and have a legal USE & OCCUPANCY PERMIT – well gee-whiz Captain Kirk – can we get Scotty to beam those poor boys over some fresh new docs – they seemed to have lost our note… Oh, but wait – there’s more… in comes the flimflam man to save their day…
NOW – we just found out the foreclosing mill that FILED foreclosure in COURT and are TICKED-off that we are not out in the street already- well miracles are still out there – WE JUST FOUND OUT the attorney and partner of this seriously HUGE law firm – yep – the newly appointed substitute Trustee appointed to kick us out of OUR HOUSE – HIS SIGNATURES are FORGED on the foreclosure docs… Holy-Forgeries – Batman – that means the original lender committed fraud and conspiracy to CREATE the mortgage – then they ILLEGALLY sold it with dirty-hands – knowingly & willfully it was latent with frauds, forgeries, and plenty of other illegal acts to Countrywide (their cohort) – which then stuffs that puppy into a pool of special treats for their investors and KAA-ZAAM – they gots themselves a double-whammy securitized backed mortgage note thingy – just ripe & waiting to cash-in on that securities insurance… isn’t that called the WALL STREET LOTTERY or something? okay so they rigged their lottery is that a surprise to anyone…? Look at it this way – what’s a little securities scam dipped with a little insurance (fraud) sweetness going to hurt… hey, what are taxes for, right?
Our case has enough fraud, conspiracies, blatant outright deception, lies, forgery, embezzlement, to give slices for Santa to pass out on his rounds this year… but YOU WON’T FIND A FREAKING ATTORNEY in Maryland with enough know-how, experience, and plain ole – tenacity to take these sob’s OUT and put them away. NOPE, not that I’ve found – been looking for 2-3-yrs and spent at least 40k thus far… And the stuff I’m talking about is “real” – material evidence on TONS of documentation. We have so much illegal stuff going-on they can’t even lean on the other cheek without causing a migraine… but what they do have that we don’t is $$$ and time.
Our time runs out in about 5-6 wks. This is a million dollar note birthed in conspiracy, created in fraud, feed with manipulation, deception, and lots of unfair & deceptive acts including embezzlement, with a double-slice of that good ole extra-sweet homemade FORGERY to top it off. And we’re talking REAL-DEAL SANCTIFIED with STACKS of credentials CERTIFIED Hand Writing expert SIGNED – SEALED – DELIVERED – and the proof runneth over!!! BUT we can’t find a “real” attorney ANYWHERE. (I should note – we found one in Florida but thus far he has not wanted to take the case full-force but he has GREATLY helped defend thus far.)
I would like to find an attorney with the tenacity of a junkyard dog and the keenness of a chess player. This forger foreclosing mill has at least 14-thousand cases in the MD – VA area – right now! If I am allowed – I will POST the docs here – PROVING this SOB is FORGING the docs… If you are in MD – VA – I need to figure out somehow how to let you folks KNOW NOW – YOU SHOULD KNOW – because it should help your cause… Could someone governing the board – let me know how to do this so others can use this artillery for the benefit…
If it wasn’t for one person on this board, we would have lost everything already – OUR many THANKS to a good friend – Kat…
David
Sorry for rambling…
For those in Oregon and Washington… I have called many attorneys – and the ones listed on this site for Oregon – will get you no help!
I have struggled with my home (s) and I am sure a lot of you are finding a hopeless situation. I have been taken by a few scams myself and I am willing to admit. It seems like everyone thinks they know something. Do not trust the “Right to Cancel” Revocation of Power of Attorney” Removal of the Trustee” All you will get is trouble with fraud in the reconveyance.
If you are looking for some guidance, let me know
email: tam1012@comcast.net
“Defective Paperwork Strips Mortgage Holder of Foreclosure Rights
The National Law Journal
A Massachusetts federal judge has upheld a bankruptcy court ruling allowing a trustee to treat a mortgage as an unsecured claim, which strips the mortgage holder — in this case, Countrywide Home Loans — of foreclosure rights because of defective paperwork. The order affirmed a bankruptcy court order denying plaintiffs’ request to send a question of law to the Supreme Judicial Court of Massachusetts. The case is Mortgage Electronic Registration Systems Inc. (MERS) v. Warren E. Agin, trustee.”
Steven K. Kop
Attorney at Law
(310) 869.0269
(310) 496.2666
bluejaylaw@gmail.com
http://newdawnlaw.blogspot.com
http://www.unfuckyourself.wordpress.com
FLORIDA LAW: ANOTHER WAY TO DEFEAT THOSE PESKY FORECLOSURE MILL ASSIGNMENTS:
MOTION TO STRIKE ASSIGNMENT
Under Florida law, corporations may convey real property in accordance with the requirements of either section 689.01, Florida Statutes (2004),2 section 692.01, Florida Statutes (2004), or section 692.02, Florida Statutes (2004).3 Section 689.01 requires
any conveyance of real property to be signed in the presence of two subscribing witnesses by a person or persons authorized to sign on behalf of the corporation, but does not require a seal. Section 692.01 provides that a corporation may convey any
interest in real property by a document sealed with the common or corporate seal, and signed in its name by its president, vice-president, or chief executive officer. A
document executed in this manner need not be witnessed. See Real Property Complex Transactions § 9.7 (Fla. Bar CLE 4th ed. 2006).If a deed is executed by the corporation’s president, vice-president or chief
executive officer in compliance with section 692.01, no corporate resolution from the board of directors is required to evidence the authority of the person executing the document. Such authority is granted by statute. If the person executing the deed does not hold one of these offices, an authorizing resolution must be obtained and should be recorded. Similarly, if a deed is executed in compliance with section 689.01 but is
signed by someone other than the president, vice-president or chief executive officer, an authorizing resolution from the board of directors must be obtained. See id. (citing Attorneys’ Title Ins. Fund, Title Note 11.05.03 (2004)); see also Real Property Sales
Transactions, § 6.43 (Fla. Bar CLE 4th ed. 2004); Standards 4.3-4.3-1
@Greg – You may have already reached out to them but Brown, Brown & Brown, P.C. is very good in DC/VA. You can reach them at 703-924-0223.
ANYBODY KNOW ANY ATTORNEY IN THE WASHINGTON DC AREA THAT “GET’S iT) IN THE FORECLOSURE DEFENCE. I HAVE YET TO FIND ANYBODY WHO WANT S TO HELP ME.
“New York Bankruptcy Court Expunges Mortgage After Lender is Unable to Produce Assignment
A recent ruling by the United States Bankruptcy Court for the Southern District of New York underscores the importance of making sure that all of the t’s are crossed and i’s dotted when it comes to documenting the assignment of any mortgage. In this decision, the Court took the drastic measure of expunging a lender’s proof of claim after it was unable to prove that it owned the mortgage upon which its proof of claim was based. As demonstrated by the Court’s ruling, failure to accurately and completely document an assignment of mortgage may have dire consequences for the assignee . . .”
Email me for details and strategy:
bluejaylaw@gmail.com
Please note my e-mail address for the lawfirm of Joseph W. Charles, P.C. in Glendale, Arizona should be katchison@joecharles.com the e-mail listed under “Find A Lawyer That “Gets It” is incorrect.
Attorney in Florida needs South Carolina co-counsel for negotiation in lieu of litigation. please e mail Scott Fistel at fsflaw@gmail.com or contact office at 954-522-1212
Why are there no attorneys for Michigan on the list?
How do I find a lawyer in Michigan who can handle my case? My mortgage company – Chase – just sold my home out from under me with NO notice, NO letters, NO calls, nothing taped to my door – nothing!
To All:
I just came across this information on the secritization of Automobile Notes. Read closely…AmeriCredit takes the money they receive from the purchase of the Note by the Trust (don’t forget the 2nd hidden YSP [yes even in auto loans]) and then reinvests the money in new loans…how about them apples????
AmeriCredit gives credit where it’s not necessarily due. The company purchases loans made by about 10,000 franchised and independent auto dealers primarily to consumers with less-than-ideal credit histories. It typically finances low-mileage, late-model used cars (about 80% of all loans), and the occasional new automobile. The company then periodically transfers its loans to securitization trusts, retains the servicing, and reinvests the proceeds in new loans. The lender has nearly 1 million customers and approximately $11 billion in managed auto receivables. It operates about 15 credit centers in suburban locations close to car dealerships.
Mortgage & Auto Audits
oliver@ipa.net
john
I need a lawyer who gets it (lawyers) for the State of Nevada please. Can someone reffer me some? I’d appreciate it greatly!
Thank You Soliman. So in short, nothing beyond traditional methods or ideas from last year are being offered. Just the new facts that foreclosures are increasing.
Freddie Mac launched a program in January that allowed borrowers to stay in their homes on a month-to-month basis after they go through foreclosure.
Despite the government and financial industry initiatives, foreclosures hit an all-time high in the third quarter. During that time, 937,840 homes received a foreclosure letter — whether a default notice, auction notice or bank repossession, according to RealtyTrac.
Last month, Treasury officials announced that 500,000 troubled borrowers have been put into trial modifications under the president’s plan. The program calls for eligible homeowners to pay no more than 31% of their pre-tax income toward their mortgages.
At the same time as it tries to ramp up its loan modification program, the administration is looking for ways to help those not eligible for adjustments. In May, officials unveiled a program to incent borrowers and loan servicers to participate in short sales and deeds in lieu. Under that initiative, borrowers get up to $1,500 to assist with relocation expenses and Treasury pays servicers $1,000 when the deal is completed.
Short sales, in which the home is sold for less than the mortgage balance and loan servicers may forgive the difference, and deeds in lieu, in which borrowers voluntarily forfeit the deed and the debt may be erased, are faster and cheaper than foreclosure
I welcome suggestions on how to have judges arrested for subornation of perjury.
Just in case there is lawyer in my area,
Drumodad@msn.com
Thanks in advance.
Jeff?
Did you see the post by C.E.F. yet?
He looking for a lawyer and he
is in your “backyard”.
Maybe your “Esq.” can assist him.
I need a lawyer in Suffolk county New York who actually cares about people more than which person is going to finance his next vacation .
Any help would be very much appreciated.
floridadefenseteam–that is a very good article on ‘indexing and securitization’!!
up until now, I did not know that the recorder probably recorded the PSA (pooling and servicing agreement).
this is probably recorded like the POA between securities trustee and servicer—the recorder does not link it to the property owner’s name (the borrower)….it is only recorded under the bank entities.
I guess I am for another trek to the recorder’s office to see if I can find the PSA recording. Know it is on the SEC site.
I am in the Los Angeles area and i am looking for someone who i s practicing the legal processes discussed on this site. Preferably one that is actually succeeding and winning cases for their clients rather than those that have jumped on the band wagon to make a buck. If anyone has had any success in working with someone to help them win against their lender and save their home from foreclosure i would love their contact info. Also, I would like to know if anyone has personally been successful in getting their home back with free and clear title due to the securities angle.
Thanks.
Anyone have advice on fighting forclosures, homeowners out there are in desperate need, including myself. Lawyers are exspensive, loan mods dont exist, some lawyers and judges dont want to here it, odds are definetely against the homeowners. Especially when the whole federal reserve and central banks own the world, including our government. Middle class are tired of being use and abused!!!!!!!!
Msoliman, contact me if you can. We are on our last legs to fight for our home. Greatly Appreciated 707-315-6415
If you feel you may want to pursue criminal charges, you can fill out a complaint form for your local District Attorney’s office. I have had some conversations with our D.A. and he described how closely D.A.s offices are working with task forces and FBI on the mortgage issues.
You have to be prepared to testify if called for any criminal trial related to your complaint.
The SEC does not always ‘prosecute’ every case.
Nor does the FBI or DOJ bring criminal actions against every violator of the SEC laws.
I have first hand knowledge of some company executives at a financial institution (bank & credit cards) who did insider trading and accounting fraud to the tune of nealy 60 million dollars.
The investors finished their civil cases against the executives and were paid with the company’s D&O insurance (Directors and Officers insurance.)
The SEC may have investigated but did nothing. I had conversations with an attorney from SEC person to person about this at a workshop. Nothing further was done. I pursued further and I received letters back from attorneys at the SEC saying they could not comment on the matter.
The insider trading occurred in 2001 and so far…nada…no action by the SEC, DOJ or FBI. $60 million is no small potatoes.
What I learned was that if the SEC investigates and rule, they can recoup up to 3X the monies from the insider trading and that the monies goes directly into the U.S. Treasury.
The SEC is also the entity that refers a case over to the
DOJ.
One can peruse the Investor lawsuits on the Stanford Law Securities Class Action website.
One of the executives, a graduate of a prestigious university, bought an island with his insider trading millions.
Another thing to note, the SEC, if it rules, can bar the corporate executives from ever holding another Director or Officer position again.
The executives, in the matter I am discussing, have all started new companies.
When Wall Street discovered the accounting fraud and insider trading, the company stock dropped from over $60 down to $3 in one day.
Investors and employees (401K) were screwed.
When the investors recoup with their settlement from the D&O insurance, they never get back what they lost from their investments.
The employees sued too….did not get much at all compared to what was lost in their 401Ks.
WELL GUYS I GUESS THIS IS GOOD BYE
Good Article regarding securitization and indexing – shows how the pieces connect -
http://www.gsccca.org/filesandforms/files/guidelines/Indexing_Securitization_Trust_Instruments.pdf
Mortgage Auditor;
November 4th 2009 GMT
By MSoliman
MA – I tend to give violations consisting of material misrepresentations used in fraudulant conduct tied to a FDIC memer bank. These cited examples are often used as a basis for making arguments through a criminal prosecutor. A material misrepresentation for a securities issue is the same as a improper accounting issue resulting in losses sustained on one party by another.
The SEC prosecutes criminal activity for most of the violations I speak of on this site. That is where earnings are tied to a registrant. The rules and guidelines for sentencing are also enforced by the FBI and brought before the DOJ for criminal prosecution . It’s all a unlawful the ol fashion cook of the books here and playing games while manipulating earnings. Now for a claim of wrongful foreclosure I would attack the Notice of sale and argue to have the court rescind the sale. That contrary to others has no bearing on the fact a home sold and may now be occupied by the new owners.
Jus t focus on a rescission as of the notice of sale and let the rest play ou upon getting a decision. Case law ref:: Bank of America v. La Jolla Group II, ___ Cal.App.4th ___ (2005). For case law.
admin@borrowerhotline.com
Well got another one for the list by the name of the Enronable John S. Adams West Justice Center Orange County seems to be buddy buddy with the eviction attorney steven silverstein, says he sees & talks to him in court like every day, but not today even after we called and notified him of the ex parte hearing today that he said he’d be able to show up by 3 but guess what no show…. hmmm maybe he knew something i didn’t…. oh yeah the judge
Hi Nightbird,
Thanks for your comment. Let me point you to a site with the Attorney General of Texas. Look for the Mortgage Fraud Seminar, Securitization: The Big Picture. It will point you to the Federal Register, Friday, January 7, 2005.
There is a lot of reading but the first 5 pages should get you the understanding of what is going on the the conversion of the Note to a Securitized Instrument.
Mortgage Audits
oliver@ipa.net
john
when you sign a trust deed for an extension of credit the lender holds title to your property in trust until repayment is complete, so if they transfered your note to someone else without your consent have they not broken that trust?
MSOLIMAN,
No games here or set up. But I said before I already hired “U.S. Loan Auditors” last month as legal councel to handle my case. And I have no intentions of changing after I just hired them and I have a signed contract with them. So I think it would be conflicting to have multiple parties going after my lender at this point. I have all my docs. on pdf. files, and I’ve had lawyers look at them stating I have good case, and I don’t mind if you want to look them over, But I don’t see any benefit to you and I’m attesting here that by fowarding my files to you it’s not an action of hiring your services. I appreciate all you are doing for everyone here.
Off the subject…
You see between Los Angeles and Sacramento there’s a good six hour drive of communities looking for help. Here in Santa Barbara six months ago when I sought out local help no one called me back, even referal numbers from the legal aid office at the court house no one called me back, so I had to actually resort to ads on U-tube to get help. I’m just pointing out to keep in mind some don’t have internet access to seek help, so they’re finding easier to walk away. If your looking for more clients. Perhaps some newpaper advertisements might help. It’s just not that hard to go to the printers and create a pdf. file to see if you have a case. So I just don’t understand why so many are just walking away.
Abby — Thanks for the clarification. Too many folks like to attack Harvard alum.
I just want my house, which my husband built from foundation to finish with no outside labor. No political agenda here.
Steve, on October 30th, 2009 at 11:55 am Said:
MSoliman, / My post was inteneded as a compliment to you.
So lets get some people on board here. I want your case, again I say to you- let me have your case.
I WILL WIN YOUR HOME FOR YOU. YOU DO NOT KNOW ME CORRECT? THIS IS NOT A SET UP CORRECT? JUST ATTEST TO THAT AN D LETS GET GOING.
CASE LAW, AND RESPA, MERS AND TILA, FORGET THAT NONSENSE – LETS JUST TELL YOUR STORY TO THE LENDER AND YOU SEE WHAT HAPPENS.
I’LL TAKE A SHOT – OKAY?
TEL. 213-627-2324
MSOLIMAN
Abby its just all the scewed up people that want our houses messing with us someone used my name address phone number and email to get quotes from a bunch of construction co.s, all of it is intended to drive us to the point of leaving.
Karen–merely pointing out that he got his JD from Harvard, which is an awesome & prestigious law school. That should count for something. I, of course, cannot explain his decisions.
Maher-I, Abby in CA am not involved with creating any websites for anyone, not do I have any collaborators doing anything of that nature. I certainly do not have time nor energy for those types of activities.
I am not a counsel and I have stated that many times over on this blog.
okay guys i got a notice to vacate by sheriffs department posted on door how can i file motion to stay execution of writ?
MSoliman,
My post was inteneded as a compliment to you.
Yes I’m on the defensive. Started this off in Nov. with approx. $3,000 paid to a mortgage modification scam. Paid approx. $1,000 to a mortgage audit service which was unable to get my lender to reply to the audit. Now approx. $3,000 paid to a lawyer who says his company is getting audit responses within ten days.
Well as to talking with my lawyer last week I’m told my lender will respond to the audit but wont be releasing any loan docs. But in the mean time my house is up on the auction block. This has all been savings going on a year now being unemployed/self-employed (no benefits to claim). This is no joke to me. and if I post one it’s because I have nothing left.
I trust no one dealing with e-mails with audit summer specials for $99.95. Servicers who are not lawyers but work with them so you’ll need to pay us first before talking with our lawyers. Lawyers who are out to save the home thru modifcation only. It’s hard to tell who’s for real, who’s a fly by night scam, and who’s just in it for the profit.. But I am not taking sides against you Soliman or dismissing your services. I just felt I had to make a choice and hire a lawyer without a bad report. I got your e-mails and I got a copy of your expert witness to foward to my lawyer if I ever reach a court appearance. I also called you I believe last week and left a message with your secretary. You never called me back.
FYI
-I loved how Willam Black on C-span talked about Enron, Worldcom, the Savings and Loan Crisis, are all the same scandal and no differen’t to the mortgage crisis. Just differn’t characters. I had just gotten done reading about the Enron scandal on the Wikipedia and was thinking the same exact thing before I saw Willam Black talk about it.-
So I apologize Soliman if your misinterpeting my comments.
Abby,
To your comment on Oct 23 (below), I say, “So what that he has a Harvard JD.”
Did you provide that tidbit to imply that “as a Harvard JD he probably has and excellent understanding of jurisprudence” or did you mean “What did you expect? He went to Harvard.”?
As a Harvard John F. Kennedy Fellow, (Kennedy School of Government, Science, Technology and Public Policy) I am disturbed by the context in which you provided the information. Considering that you were answering someone who has a personal problem w/ Judge Carney, I would appreciate it if you would explain yourself. I can’t wait to hear your views on the school recently ranked #1 in the world, above Oxford, Cambridge and Yale.
Abby in CA, on October 23rd, 2009 at 4:02 pm Said:
Contacting Judge Carney
courthouse
http://www.cacd.uscourts.gov/cacd/JudgeReq.nsf/f6beb3edf125e6e788257272006231a2/06a6850e26e8d94488256d1d005b0a8d?OpenDocument
He has a Harvard J.D.
MSoliman,
I’m an IT person, and I looked up abbymortgage and I found the information shown below. It has been registered since January ‘07 and it belongs to jet Stream Enterprises.
WHOIS information for abbymortgage.com :
[Querying whois.internic.net]
[Redirected to whois.enom.com]
[Querying whois.enom.com]
[whois.enom.com]
=-=-=-=
Visit AboutUs.org for more information about abbymortgage.com
Registration Service Provided By: Strata services limited
Contact: management@strataservices.com
Domain name: abbymortgage.com
Registrant Contact:
JetStreamEnterprisesLimited
Jet Stream ()
Fax:
BoxW960,WoodsCenter
StJohns, 0000
AG
Administrative Contact:
JetStreamEnterprisesLimited
Jet Stream (jetstreamltd@gmail.com)
312263405
Fax: -
BoxW960,WoodsCenter
StJohns, 0000
AG
Technical Contact:
JetStreamEnterprisesLimited
Jet Stream (jetstreamltd@gmail.com)
312263405
Fax: -
BoxW960,WoodsCenter
StJohns, 0000
AG
Status: Locked
Name Servers:
dns1.name-services.com
dns2.name-services.com
dns3.name-services.com
dns4.name-services.com
dns5.name-services.com
Creation date: 25 Jan 2007 19:21:34
Expiration date: 25 Jan 2010 19:21:34
Get Noticed on the Internet! Increase visibility for this domain name by listing it at http://www.whoisbusinesslistings.com
=-=-=-=
The data in this whois database is provided to you for information
purposes only, that is, to assist you in obtaining information about or
related to a domain name registration record. We make this information
available “as is,” and do not guarantee its accuracy. By submitting a
whois query, you agree that you will use this data only for lawful
purposes and that, under no circumstances will you use this data to: (1)
enable high volume, automated, electronic processes that stress or load
this whois database system providing you this information; or (2) allow,
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Version 6.3 4/3/2002
Abby in CA, on October 29th, 2009 at 6:46 pm Said:
————————————————————–
Ian-? The website is not mine. I asked Maher to explain earlier–did you read that post? That maybe we’d use him if he could explain?
—————————————————–
ABBY Collaborators are now the “Steve” shill. Go to a number of domain registers and see the web page my domain “Foreclosureinfosearch”now defaults too. The deal is out of the bag now after a 30 day investigation.
I am hindered from testifying at the moment due to this tortuous & unlawful interference. My popular web page is now the same as the default page you pick up under AbbyMortgage.com (Stupid criminal minds)
These people have infiltrated this site as well and tried to cause me and workers undue humiliation and losses to clients whose cases are now before judges. My GOD, what are they doing!
These people (I believe include an attorney) in a uplifting and heartbreaking Quiet Title action being heard in CA Superior Court .It appears the parties fighting this matter are still seeking to delay an elderly couple who like me are suffering from these 24 – 7 strong arm tactics. But these attacks are against a court witness who has been deposed and having testified. These inhumane extortionists continue to press me; the lawyer sanctioned me and tried to compel the courts to hold me in contempt to no avail. $18000 – I was able to Quash the latest duress and now this….because why- I testified t the truth! This nightmare continues. This while they press me to surrender and cave in. I WONT DO IT. NO WAY
They and others here who are fighting for their homes while these animals think it’s all a game. This site is suffering from something I am not able to control.
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The people behind the “Abby” name are being investigated under federal domain registration fraud and thief with a likelihood of an arrest. Watch the M.Soliman latest attack Web Site they started drop off again after this posts.
We have IT people who have electronically copied it. . An investigation by IP domain security is to commence (watch their next move). I need to stress something to everyone….. This game is interfering with certain Courts and defendants in US courts and must be brought to justice.
It’s turned this palce into a joke…a serious joke with reprecussions.
1,099 Responses
Steve, on October 29th, 2009 at 8:37 pm Said:
I enjoyed Maher postings too about securities and CDOs, although I had to keep opening up the dictionary due to his extensive vocabulary
“enjoyed Maher postings” . . .I never go by Maher and everyone (other than Mas and WikiAbbya) use
M.Soliman.
Wow, If only they knew how many times attorneys told me Niel Garfield had not been in a courtroom in over over 20 years or cannot substantiate prevailing while defending a wrongful foreclosure case – they would start a Rip off report about him.
Careful Neil, they are ruthless…..
I enjoyed Maher postings too about securities and CDOs, although I had to keep opening up the dictionary due to his extensive vocabulary. Before I connected him with NLS, he was the one on his website who wrote “Everytime a client comes into our office forms 1003 and 1008 are missing from their mortgage docs.” That threw me over the top when I looked and noticed mine were missing too.
Unfortunately, after the comments here and doing a search under NLS scam or fraud I went with another service since Vickys complaint is still listed under the complaintsboards website.
These days I wont do business or even buy Girl Scout Cookies without doing a search under scam or fraud first.
But forget buying anything now. After reading about the church donations my lenders attorney might point out to the judge that I was ordering cookies instead of paying my mortgage.
Dying Truth,
I am not a lawyer and “Frankly Madam. I don’t give a ….” uhhh
I forgot the rest of that “line” … anyway……
GET YOUR FANGS OUT!
No, not because it’s Halloween soon.
No, unfortunately we are going to have to fight FANG to fang
with these fools.
Is that LEGAL advice? YEAH. Yes, frankly it’s the dispositive TRUTH.
—————————–AIA
********** AIN’T IT AWFUL ************
“DISGUSTING” DOES NOT EVEN DESCRIBE THIS FORECLOSING PARTY’S POSITION: DON’T DONATE $12.50 PER WEEK TO YOUR CHURCH SO YOU CAN USE THAT MONEY TO PAY THE SERVICING COMPANY ON A MORTGAGE WHICH IS OVER $3,000.00 PER MONTH
October 20, 2009
This one takes the cake, at least for now. Forged initials and signatures on loan closing documents, forging a wife’s name on mortgage loan documents where the husband is the only borrower, dummying up phony “original” promissory notes with forged borrower signatures, and the like are now commonplace in our cases. This most recent event, however, defies explanation and shows how low a servicing company and its attorney will sink.
The case involves a foreclosure attempt by Aurora Loan Services, which we all know is an arm of (bankrupt) Lehman Brothers. Aurora’s attorney took a 9-hour deposition of the borrower, which was in an of itself an ordeal, especially with many of the same questions being asked over and over and over and over and over and over and over again. The fact that a “big law Firm” was retained by Aurora to take this 9-hour deposition for this simple contested foreclosure case with only one borrower showed us one thing: that the big law Firm intended to bill the dickens out of Aurora.
Somewhere in the 7th or 8th hour of the deposition, Aurora’s attorney began to ask a series of questions of the borrower as to certain payments, including the borrower’s $50.00 per month contribution to her church where the borrower and her family worship. Aurora’s attorney then asked the borrower why she did not cease paying her church (what was $12.50 per week) “so you could pay your mortgage”, which had escalated to over $3,000.00 per month. It does not take a math whiz to see that not contributing $50.00 per month to a church is not going to make a bit of difference in paying a $3,000.00 per month mortgage. Nonetheless, Aurora’s attorney asked this question at least 3 times, and was astounded that the borrower chose to continue to give the small donation to her church. The attorney actually insulted the borrower over this matter.
If this is a sign of things to come, borrowers in foreclosure defense cases beware: you may be labeled as a “cheat” or worse if you donate a small sum to your church or temple instead of using that money to pay the servicing company. After all, who is more important here anyway?
Jeff Barnes, Esq.
Ian-
?
the website is not mine. I only found it trolling on the net.
I asked Maher to explain earlier–did you read that post? that maybe we’d use him if he could explain?
Abby i did file a TILA case in district court that’s in appeals right now. but i haven’t filed anything like that in superior, i’ll try and email you a quick summary. Ian if you don’t have anything nice to say at least say something productive like Maher…..
you see thank you soliman thank you everyone. this is what i like to see, us helping one another not fighting amongst eachother. my dad got the case file from westcourt along with the stay writ of attchment forms. tomorrow we’ll probably file that and then we’re gonna file a notice of removal to district court and join a class action rico suit against this Steven D. Silverstein attorney, there seems to be a pattern to cases he works on like they always file the ud in the name of a trust or partnership after the street name wherever the property is located so if anybody gets a case like this that was filed by Steven D. Silverstein please contact Peyton Yates Freiman at 512-923-1889
Hey Abby- your facebook photo is a sweetheart! I don’t know why you are attacking Maher Soliman, his posts are among the most illuminating of any on this site, if only to jar the viewer into realizing that he or she knows very little (relatively speaking) of what actually is to be taken into consideration in these matters. I, for one, am continually amazed at these various insights into various components of the securitization process and its’ attendant illegalities. I would hope you can visualize the larger picture and put personal diatribes aside for the common good. Otherwise you should replace your Facebook picture with one having a permanent scowl! I value your posts as well, Abby- you have an honest, direct (and rightfully so) grasp of your subject matter. Sincerely, Ian
Abby,
OK. Now I got it.
Thanks.
Dying Truth–have you filed your fraud, TILA, Predatory Lending, usury etc. case yet in the unlimited civil division of Calif Superior Court?
I do not know facts of your case, but if any of those causes fit, you should get that complaint filed asap.
Maybe you have already done this. I hope so.
I am out of touch on where you are with your UD and as you have found out, those move very, very quickly through the UD court (limited civil divisions and they are not equipped to handle the big fraud, TILA case).
You can try to do like I did, file the big fraud complaint and then file a motion to consolidate in the UD court as an ex parte hearing.
Disclaimer: I am not an attorney so always seek competent legal counsel & advice.
If you search around in scribd, I think there are some template complaints.
Do you know how to go to the civil clerk to file a complaint? Call and ask them questions. Usually, you will need to bring at least 3 copies for them to ‘file’, which means they will assign a case number, date/timestamp it and enter it into their system.
You should get two copies back–always keep one for yourself of everything.
If you are going to file a complaint, you will also need to go online to your court site, and print off a ’summons’ form, fill it out and also bring 3 copies to clerk at the same time you file your complaint.
The California courts are great about posting all the form documents online and for giving some instructions.
If you want, you can email me at carra2009@gmail.com and I will try to answer your questions.
Also, you will need to look online at your court website
to learn about deadlines for ’serving’ the summons and complaint and any motions.
Pro-se’s can do this. There are many who cannot afford attorneys right now.
Whatever you do, try NOT to let a writ get issued in the UD court. But, even if that is done, it is not over.
It is just much more difficult to deal with.
Try to find a lawyer.
O.K. Abby in CA
We know that you did not find that article on Google.You are obsessed with him. WHy
You have something against M.Soliman?Please let us know what is that .It’s geting boring.You using this site just to attack him.
I like most homeowners use this site to help fight lenders.There are lot desperate homeowners who need and find it on Livinglies.
Are you protecting the public?
And finaly we all know M.Soliman and that is his real name. It would be nice if you would tell us your real indentity and trying to divert readers from the main focus -SAVING HOMES! Did he not show you the cases he won, the testimony provided and the settlements made in coourt. That was not enough.
I believe Mr.Garfield started this site to show others the right way to win back their home.
This is not our beef and he has won two settlements for me. Stop or just go away! Thank you
You must have a filter or something turned on.
I just clicked and the page comes up.
Try it under a different browser. Works under IE
Need an atty who gets in in “Naples FL” or close by. Regarding predatory loan.
Michael
Abby?
I clicked the “officelive” link,
but got a dead page.
What google search params did you use?
or
just what was there?
Knowing you it’s gotta at least be
very interesting.
Maher,
Hope you can help him.
I always read your
contributions with
great interest
Deontos,
Gift . . . . thanks for comments..and supporting him. .
Maher
found this with a google
http://noneca217.web.officelive.com/default.aspx
Maher — Thanks for the clarification. As a displaced Baltimorean, I probably know the people who swindled you. I’m at the Solar Convention in Anaheim all week but I’ll call you later.
Dying Truth — listen to others. The note was taped to my door in March 2008 and we are still in our home fighting.
Dying Truth!
Snap out of it! Put your GAMEFACE on and get moving.
Take help from where you can get it. But you got to help
yourself.
I agree with everything you said about the capacity of
some to be heartless and cruel. A deer probably thinks
the same way as the hungry and grateful cougar takes
the first bite of it latest meal. CRUEL isn’t it? If that deer
could have moved a little faster, jumped a little further….
NO, what happened was it GAVE UP.
I don’t know all the consequences of Maher’s offer to help.
My gut says he’s GENUINE. It’s a gift while the other side
is happy to use a stick on you.
I want to see many stories here of SUCCESS. Look,
Abby was able to get through the STICKING point you’re
in right now. Please…. let us hear back that you have taken
further action. A lot of us facing this darkness will be helped
and very encouraged to hear that you MOVED forward.
{{{ranting done}}}
DyingTruth, on October 29th, 2009 at 1:30 am Said:
I’m only interested in hearing your personal experiences.
am not sure what’s going on here outside of a lot of panic. I’ve seen these overturned almost weekly …….you’re the defendant seeking to stay the evicition correct?
Please (no BS ) Just answer
1) Have you filed a Motion to Stay the Writ of attachment?
2) If yes what was is denied for?
3) Are you alleging the attorney alone manipulated the court?
4) Suggesting the court is biased and acknowledged the oppositions having failed proper service?
Dude, this is not that hard. A court should allow you more than enough chances to file a motion to stay a writ o(Sheriffs) – 30 days at least (based on a hardship and time to recoup, moving, money, denial. . . Is this for real or what?
213-627-2324
OC – Ill meet you down there if need be…Maher
M.Soliman
admin@borrowerhotline.com
i dont know what county but here so far in the oc it’s hard i got no cash, the attorney that filed the ud pulled a fast one, vacated the hearing that was set for yesterday and had summary judgement entered five days earlier without any noticed said we were served but we weren’t. but i was thinking maybe filing something like that could help me, so if you think…. look forget that just tell me in somewhat detail how you did it i’m only interested in hearing your personal experiences.
my whole view is i’m not a lawyer but anybody i can give good helpful advice to i’m gonna because you know what lawyers aren’t, even when paid to. its crule, & i have no respect for people who stand by and quietly watch while everyone suffers, it’s imoral and inhumane, and screw what the bar thinks who have they helped lately but themselves. thepeople that have thier faces on dollar bills didn’t get there from screwing over thier fellow countrymen they got there from helping them in times of dire need
Dying Truth,
Here’s Abby’s “comment” on her filings:
———————————————————————–
Abby in CA, on October 25th, 2009 at 7:17 pm Said:
To James and Ruby
Not to diminish the valuable instructions from James, and I am NOT an attorney, so always seek competent counsel, but this is what I did in California after being served with UD. I filed a fraud, TILA, predatory lending, wrongful foreclosure case in the California courts, then filed a Motion to Consolidate the UD with that big fraud case (since big fraud case is in unlimited civil division and UD is in limited civil). The UD judge did just that and it has been over a year now since I found the 3 Day Notice to Quit taped to my door.
The big fraud case is moving ahead. The UD is dependent on the outcome of the big fraud case.
I have NOT found corruptness in the California courts yet.
That is just what I did and this is my opinion.
James, are you an attorney here in California?
———————————————————————–
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DyingTruth, on October 28th, 2009 at 10:27 pm Said:
so how the hell do i use this info to stop my eviction? the courts in california aren’t listening and are anything but sympathetic
—————————————————————-
DyingTruth,
Are you in UD Court?
SEE: Maher says he snagged the “Pretenders” at the UD Phase
see: http://livinglies.wordpress.com/2008/05/20/the-dangers-of-defending-your-foreclosure-case-without-an-attorney/#comment-2722
SEE: Neil’s article about using UD strategically
Motion for Consolidation is sometimes enough
Posted on February 17, 2009 by livinglies
http://livinglies.wordpress.com/2009/02/17/motion-for-consolidation-is-sometimes-enough/
SEE: I think Abby was successful; maybe she can help you out:
—————————————————————-
Abby in CA, on August 31st, 2009 at 3:32 pm Said:
………But in Calif, non-judicial foreclosure state, I prepared the counter MSJ to their MSJ. This was in UD (eviction action, post foreclosure)
At same time I filed a fraud case and then did motion to consolidate the two cases (UD with Fraud).
So the consolidation overrode the MSJ. Nevertheless I filed the counter msj.
—————————————————————-
it is starting to make sense though considering on the trustee’s deed it says the purchaser was a third party partnership named after the street i live on in connection with a bunch of other trusts and there was no purchase amounts listed. but how can this be used to catch the courts attention and will they even care?
so how the hell do i use this info to stop my eviction? the courts in california aren’t listening and are anything but sympathetic
John,
I have asked that question in a number of places and have never received an answer. Can anyone explain to me what legal means exist for a securitized Note to convert back into a mortgage Note.
There would need to be some process, some filing, some demanding legal requirement that prescribed the manner in which a security can be transferred back into its earlier existance as a Note. Where does that law exist? Where is there even regulation that governs the process?
I’ve thought that these banks, by securitizing mortgage Notes, actually ruined & voided them for use with real estate. Is that notion supportable?
Guys, I believe you are leaving out a few things. How can they buy the Note back that has been “converted” into a securitized instrument?
Answer, they can’t! Once it has been securitized and paid in “full” it can not be converted back into a Note….
How can they modify a Securitized Instrument? They can’t!
Mortgage Audits
oliver@ipa.net
john
okay soliman your starting to make alot of sense so dont lose me. they cant just simply assign loans can they? instead they foreclose, rescind and that’s how they transfer the debt?
Dying truth
You are CORRECT. OUTSTANDING RESPONSE and I agree. Never took issue with your comments, feedback or contribution.
Want to get focused here. Fine. The borrower got a loan. Lender sold the loan. You want a modification!
Lender say’s Okay, lets see if we can help! HOW CAN THEY HELP IF THEY SOLD THE LOAN.
They can only repurchase the loan in an open market transaction according to GAAP. Lets see, Ebay, No Chrities Auction…Nope….TRUSTEE SALE ? And that happens AFTER THE FACT…
MERS is an electronic means to record an assignment – call them and ask to have them hold up any assignments.
LOST NOTE – Forget it. The loans fund and get offered as collateral for the lender to borrower more money. They really cannot but the bank making the lender loan files a UCC and could care less about your lost note.
ASSIGNMENT – The loans was sold and the assignement was recorded when. Before the sale took place. Who signed it? On behalf of who as beneficiary? The documents were dated when?
My apolgies to you and the rest for having to address the other non sense here (but its still impresive and adds to the credibility factor.)
I have been to the mountain…I have seen the valley fraud with my own eyes. And as always with fraud comes suffering. Its time to stop the suffering and leave these borrowers alone.
MSoliman
borrowerhotline.com
Swallowman you have to expect this kind of criticism when you constantly shoot down homeowners attempts to cognize legal theories, insult honest suggestions for help and draw everyone from the focus of thier problems & the point of this website which is a place where homeowners can seek actual help. if your not part of the solution then your your part of the problem bub.
In a 2002 claim my firm filed against CitiFinancial for compelling my firm to purchase over $1.million in fraudulent loans SOLD TO US consisting of Baltimore Row Houses.
My firm was a warehouse sub servicer and these toxic loans were transferred from New Century (now under investigation) to a warehouse line of credit I owned totalling over $100 million. The documentation is available to show the deceitful and willful attempt by Lenders to transfer assets illegally to avoid regulator authority.
Citi countered seeking a summary judgment that was vacated as part of our agreement t to avoid litigation and a negotiated settlement. Its not even part of public records so they had t o dig deep.
These mental midgets fall right into the trap as you can see. If my experience is alway suspect with these fools and questions are raised as to my trading over one billion in closed loan assets – then let this silence the moron minority. By the way, these creeps that pollute this amazing site with Bannarama gossip don’t realize that the industry prior to the crash ran with a 4.8 to 7.3% delinquency rate. One million (if it were applicable ) over five years equates to a 0.20 % average annual rate which confirms we led the nation in a near zero delinquency.
But note how the underlying bank seeks to attack the originator and file for a judgment. If they feel the loans were bad why are they denying the loans are anything but acceptable in today’s court? It’s happening everyday and playing out in courts across America.
Ms Mas and Abbess are doing the same thing trying to block justice and somthing that this site does not stand for. Lender malfeasance. I have testified for a year now trying to win back a certain borrower their home in a seperate matter.
The attorney fighting me (who I beat in court once) as an expert witness (got that – Expert Witness and I won) is asking them to attack me to discredit my reputation in the matter of :
CASE NUMBER 107CV078096 / E RIFFLE JR, ET AL ET V. HOMECOMINGS FINANCIAL, ET AL.
ITS TORTOUS INTERFERENCE AND UNLAWFULL TAMPERING WITH A WITNESS AND TESTIMONEY UNDER THE RULES OF EVIDENCE. THIS MATTER IS BEFORE THE ATTORNEY GENERAL NOW AND IT IS AMAZING – THEY KEEP COMING AT ME FOR PUBLIC RECORD.
CALL ME FOR ANY SUPPORT YOU WOULD LIKE AND PREVENT MS MAS, ABBSESS AND COUSEL FROM GIVING THE BORROWERS ABOVE WHAT THEY DESERVE -THE RIGHT TO LIVE IN THEIR HOME FREE OF A ROUGE LEDNER COMING BACK TO MAKE CLAIMS.
THESE PEOPLE ARE NOT OUR FRIENDS FOLKS..
GOD BLESS
MSOLIMAN
BORROWERHOTLINE.COM
Please take note of the serious and compelling arguments we make as an expert for attorneys to cnsider in their pleading. Of course, this is submitted with a number of compelling exhibits taken from SEC filings and used as evidence. They are attached for submission with a pleading at the attorneys request.
SUMMARY OF EVENTS
Taylor, Bean & Whitaker’s Underwriting Standards
Taylor, Bean & Whitaker lends on conventional conforming (i.e. Fannie Maenad Freddie Mac agency products), FHA Insured, VA Insured, Rural Housing and conventional non-conforming loans (i.e., loans which are not insured by the Federal Housing Authority or partially guaranteed by the Department of Veteran Affairs or which do not qualify for sale to Fannie Mae or Freddie Mac and are secured by first liens on one-to-four-family residential properties). All loans may be underwritten by Taylor, Bean & Whitaker or purchased by Taylor, Bean &Whitaker when underwritten to acceptable guidelines approved by Taylor, Bean &Whitaker. Taylor, Bean & Whitaker’s underwriting standards with respect to the mortgage loans generally will conform to those published in Taylor, Bean &Whitaker’s Product Profiles and Credit Policy.
Taylor, Bean & Whitaker states in its offering prospectus that “If the loans are “conventional non-conforming loans”, the underwriting standards applicable to the loans typically differ from, and are generally less stringent than, the underwriting standards established by Fannie Mae, Freddie Mac and government insured loans primarily with respect to original principal balances, loan-to-value ratios, borrower income, required documentation, interest rates, borrower occupancy of the mortgaged property and/or property types.”
Taylor, Bean & Whitaker knew performance of the loans there under may reflect higher delinquency rates and/or credit losses. They also stated in the prospectus the following: “To the extent the programs reflect underwriting standards different from those of Fannie Mae, Freddie Mac, FHA and VA, the Defendant will show where the underwriting standards as set forth in Taylor, Bean & Whitaker’s underwriting guidelines were continually revised based on prevailing conditions in the residential mortgage market and the market for mortgage securities. “
Where Taylor, Bean & Whitaker’s underwriting guidelines were continually revised based the company commits a material misrepresentation as the open ended statement subject to “prevailing conditions in the residential mortgage market and the market for mortgage securities” refers to the need to continue to lower its qualifying standards’ solely to compete. This claim is proven and shown by the recent collapse of the non convention non-prime market place and high number of foreclosure experienced by Taylor, Bean & Whitaker’s.
Taylor, Bean & Whitaker claims in published prospectus ( ) that it “ “Generally, a prospective borrower is required to complete a detailed application providing pertinent credit information. The application contains adscription of a borrower’s assets and liabilities and a statement of income and expenses, as well as an authorization to apply for a credit report summarizes the borrower’s credit history with merchants and lenders and any record of bankruptcy.” The defendant claims Taylor, Bean & Whitaker’s loan acceptance program was defect and not subject to any level of accuracy and detail necessary to ascertain early on the viability and credit worthiness of the borrower.
Rarely if ever was an employment verification obtained which reports the borrower’s current salary and may contain the length of employment and an indication as to whether it is reasonably expected that the borrower will continue such employment in the future. If a prospective borrower is self-employed or if income is received from dividends and interest, rental properties or other income which can be verified from tax returns, the prospectus represents that “borrower may also be required to submit copies of signed tax returns. In addition, the borrower may be required to authorize verification of deposits at financial institutions where the borrower has accounts.” Neither of these statements are true as evident from the high volume of foreclosures and default experienced by Taylor, Bean & Whitaker’s.
The underwriting standards set forth in Taylor, Bean & Whitaker’s Product Profiles and Credit Policy were based upon based on the requirements of Freddie Mac’s Loan Prospector(R) (“LP”) program or Fannie Mae’s Desktop Underwriter(R) (“DU”) program. Fannie Mae and Freddie Mac have created their automated underwriting engines around sets and subsets of rules taking into consideration overall risk based off of FICO score, TV/CLTV, occupancy, income/debt ratios and transaction type. The automated underwriting engines created by Fannie Mae and Freddie Mac have been approved for use in determining overall repayment risk and have included within the engine, their own superset of risk controls.
In the prospectus Taylor, Bean & Whitaker states the result of input of all of the required application fields will yield a result of approval or denial (with varying layers of risk determined between these decisions). This is just not the case as the automation is alleged to have been manipulated the borrower’s credit profile and other pertinent information in order to deceive the secondary market as to the quality of the asset.
A certain percentage of the conventional non-conforming loans have been originated under a non- verification than do traditional full documentation programs. Generally, under an alternative documentation program the borrower provides alternate forms of documentation to verify employment, income and/or assets. Under the Stated Income Verified Asset program (SIVA), the borrower states his or her income on the application along with place/history of employment.
The practice of soliciting and underwriting a borrower’s file requires the employment is verified, however, according to Taylor Bean, “not the actual earnings.” This practice is highly negligent where a lender determines at their own discretion if the income is information is reasonable and consistent with the borrower’s occupation and tenure of employment.
Another highly negligent practice is where Taylor Bean, under the Stated Income Stated Asset program (SISA), the employment is documented the same as the Stated Income program and, additionally, the assets are stated on the application, however Taylor Bean makes no effort to have verified the amount on deposit. Likewise, no statement is made by Taylor Bean regarding its quality control or risk mitigation departments. The absence of this statement suggests a certain high level of malfeasance and crprate disregard for the integrity of the programs offered to borrowers putting them at risk and for investors seeking to buy stock collateralized by the potentially toxic mortgages.
Taylor bean further attracted a high risk profile in its portfolio by offering a No Income Qualifier program (NIQ) where the application is taken with employment stated on the application. Taylor Bean shows in the prospectus its recklessness attracting borrowers lured under a no income listed on the application program leaving the ratios at zero.
The defendant can now understand why Taylor, Bean & Whitaker was so eager to put him at ease having to “not worry” about the loan being approved under an exceptionally easy and “brainless” program format. Employment and assets are verified under the NIQ program is subject to a mandate for strong compensating factors which is something Taylor Bean makes no representations for in its published offering. The prospectus reads as follows: “The application for the No Documentation program (No Doc) contains no employment, income or asset information. The underwriting for such alternative documentation loans may be based primarily or entirely on other factors, such as an appraisal of the mortgaged property, the loan-to-value ratio at origination and the borrower’s credit score and previous mortgage payment history.”
Taylor Bean was overly dependent on automation to allow the company to escape the wrath of underwriters who would normally protest the absence of good underwriting standards. In fact, Taylor Bean boasts in its prospectus of having created a proprietary rules-based engine that generates an underwriting decision based on rules input as a direct reflection of the product profiles for nonconforming (Alt-A) loans. The defendant claims the automation was more inclined to issue an approval after a processor or underwriter was encouraged to twist and misrepresent the borrower’s accurate income and assets profile.
Taylor Bean in its prospectus further claims the following “based on the data provided in the application and certain verification (if required), a determination is made by the lender that the borrower’s monthly income (if required to be stated) will be sufficient to enable the borrower to meet its monthly obligations on the mortgage loan and other expenses related to the property such as property taxes, utility costs, standard hazard insurance and obligations other than housing expenses. Generally, scheduled payments on loan during the first year of its term plus taxes and insurance and all scheduled payments on obligations that extend beyond ten months equal no more than a specified percentage of the prospective borrower’s gross income. If the system is not flawed then how was this information obtained for a borrower who struggled with his payments almost immediately from the commencement of the loan origination?
The prospectus contains multiple instances of material misrepresentations where it is alleged by Taylor Bean that a percentage applied variable on a case by case basis were applied depending on a number of underwriting criteria, including product applied for, FICO, occupancy and the loan-to-value ratio of the mortgage loan. The originator may also consider the amount of liquid assets available to the borrower after origination. The allegations are little if any applied variables and instances of quality control and risk mitigation were ever applied the defendants loans and Taylor Beans underwriting efforts.
In determining the adequacy of the mortgaged property as collateral, an appraisal may be required of each property considered for financing. Such appraisals are performed by appraisers independent from Taylor, Bean & Whitaker or its affiliates. Such appraisals, however, will not establish that he mortgaged properties provide assurance of repayment of the mortgage loans. The appraisal procedure standards generally will have required the appraiser or an agent on its behalf to personally inspect the property to verify that the property is in good condition and that construction, if new, has been completed. All appraisals conform to the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation and must be on forms acceptable to Fannie Mae and/or Freddie Mac. The appraisals based on various factors, including the market value of comparable homes and the cost of replacing the improvements. For existing properties, if the appraisal is more than 120 days old but less than 360 days old, the original appraiser must certify that the value has not declined. If the appraisal is more than 360 days old, a new appraisal is required. For new construction or construction-to-term loans, if the appraisal is more than 180 days old but less than 360 days old, the original appraiser must certify that the value has not declined. The re-certification must be dated within 180 days of the settlement or closing. If the appraisal is more than 360 days old, a new appraisal is required. Appraisals are reviewed in their entirety by an underwriter employed or contracted by Taylor, Bean & Whitaker or an approved delegate for Taylor, Bean & Whitaker.
Taylor, Bean & Whitaker’s underwriting standards include a set of specific criteria pursuant to which the underwriting decision is made. Mortgage loans approved as quick as they came in the door which is a negligent practice that subjects the borrower to predatory lending practices, unconscionable loans and deteriorating acceptance guidelines over time.
Taylor Bean then packages the loan in large pools intending to sell them off to Wall Street investors. It is alleged the investors then buy into the offering providing information offered in a registration.
The programs used by Taylor Bean and its published guidelines for lending practices should be considered anything but to be originated in accordance with a given set of underwriting standards and are in fact NOT based on an overall qualitative evaluation, where the loans fail to meet any substantial compliance with those underwriting standards as determined by Taylor, Bean & Whitaker underwriter or contracted underwriter or an approved delegate.
Abby,
OUCHHHHHHHH……………………………….
I guess that’s why its time to jump ship.
TCS- fighting in FL.
Thanks Abby. Judging by the date, that could explain why Mr. Soliman switched sides. I’ll have to look it up to see what side he was on back them.
It is unpaid and if one adds 10% interest on judgment it is over $2.3 million due.
Superior Court State of Calif. County of San Francisco
CASE 03-503708 Feb. 10, 2004 judgment of 1.59 million
CPF 03-503708
Abby,
I’m still waiting for proof about your allegations. My only loyalty is to the truth so please don’t think I’m advocating for or against any particular person.
This is one of the most useful websites I have come across and I would really hate to see it deteriorate into a Topix-type forum for people with a personal ax to grind.
Karen
Found this under the comment section of a “Market Watch” article.
What’s the difference between a Realtor and a catfish?
-one is a slimy, mud-sucking, $hit-eating, bottom feeder. the other is a fish.
oh yeah & i’m pretty sure i have evidence to support the whole theory that james had about mers and the hidden loan scheme, when my loan was allegedly transfered it was in default pending a trustee’s sale on the original loan number but then boom trustee’s deed upon sale new loan number then they recorded a blank assignment, then they rescsinded the whole thing trustee’s deed, default etc… but started the process all over again but with the new loan number and then on the trustee’s deed upon sale it was the original account number but this time there is no purchase price, all the amounts are blank. back to james’ theory, the appraisal that they kept from us until after closing was $548,000 my loan however was only $273,000, coincidence… i think not
Cormac J Carney is a friend of the pretender lenders. That’s the guy who broke the rules just so he could dismiss my case. he used to be a some football star then he was a business litigator, after that he became a superior judge for oc then BUSH gave him a district judge position. i filed for an emergency motion to stay(they denied it but didn’t dismiss the appeal) because now they’re tring to evict me, I’ve lost feeling and ability to use my left hand at the age of 26 so typing has been hard. i have a hearing the 28th for the ud i’m going to try to go to westcourt tomorrow with my dad and see if we can get some time, mercy ANYTHING. this is so hard i don’t know what’s wrong with my hand but that’s why i haven’t been posting
California:
Caporale v. Saxon, Deutsche Bank, Morgan Stanley – Judge Weissbrodt Motion to Lift Stay DENIED. Order for Preliminary Injunction GRANTED July 14 2009.
http://msfraud.org/LAW/Lounge/CaporaleSaxonDeutsche/OrderInjunction14July2009.pdf
I’m coming for you soon as well you F#$KS…
I would definitely like to hear about the million dollar verdict! I know Michael Roth was in trouble for some of his antics but I hadn’t heard about the other matter.
Secondarytradedesk
Maher we all know this is you with your latest created blog id because you are still stuck on ‘digging’ Vicki.
I thought Neil told you to stop.
Before you go proselytizing on folks like ‘angry & NTI’ and Allan from MA on the ‘attorney page’ can you please expound on the over 1 million dollar judgement against yourself?
We’d maybe like to use your expert services but that may stand in the way.
angry not taking it, on October 23rd, 2009 at 3:53 pm Said: Cormac J Carney California Central District Judge is kicking Families out of their homes . . . . /Cormac_J._Carney…this explains a lot… has done more to hurt .steal. Murder. Insult the USA ….the BUSH FAMILY.
There are people here (this site) who create the controversy and stimulate willful attacks and even hatred amongst viewers and the system. This (above comments) is a response to that mentality and not a “chit chat” club member cause of it .
Go to a third world nation and write about this subject matter and then disappear. We have a great country we live in with men and woman dying for a less worthy cause (in my opinion) then for saving a home and family from homelessness. There you see destroyed foreign and American families for life. I still support our government and any cause to make right the 911 tragedy (Whatever the justification).
There really no place for this attacking herein…..try the Vicky Mas Ripp off Report.
US Marshals, FBI and Department of Justice personnel read this fecal matter and Michael Moron makes money of f the hype and gets you to justify reasons why you continue to kick your dog.
Relax Bubba, breath and think, be smart and seek anger management courses. And read through the issues causing judges to say one thing and go home at night thinking “they were close…the arguments…were so close …and yet not enough” (Trust me; I know this happens for a fact!)
“…one day this war is going to end”
From Apocalypse Now
SECONDARYTRADEDESK
Need attorney in Florida willing to go after a “wrongful foreclosure” case. thanks
Cogent presentation of argument using all available elements of discovery and findings found in file.
Drama will not sway a judge – I agree and hope we can start leaving attacks on Judges, coourts, lenders and all of us here.
PS. The article I posted
msoliman@borrowerhotline.com
Admin@borrowerhotline.com
According to Rate The Judges: (few comments though)
http://www.therobingroom.com/Judge.aspx?ID=41
I’ve only talked to three people so far and each of them has started out with their own personal sob-story/ tragedy explaining why they are delinquent on their loans — case dismissed!
Chances are that if you make a cogent, coherent case, lay out the law, and stop presenting yourself to the court as a desperate debtor/beggar chances are you will have a better shot.
Contacting Judge Carney
courthouse
http://www.cacd.uscourts.gov/cacd/JudgeReq.nsf/f6beb3edf125e6e788257272006231a2/06a6850e26e8d94488256d1d005b0a8d?OpenDocument
He has a Harvard J.D.
Cormac J Carney California Central District Judge
is kicking Families out of their homes without any question!!
anyone have info on him?post the info
http://en.wikipedia.org/wiki/Cormac_J._Carney
this explains alot… nominated by that idiot President George W. Bush on January 7, no family has done more to hurt .steal. murder. insult the USA
then the BUSH FAMILY.
Patriciagmac,
Good luck with getting people to take time to help you with your problem for free. How dare you write me and ask me to help you and then insult me when I inform you that I don’t work for free.
I did NOT ask you to contact me. I am not soliciting work in this field. I told you who I am and I told you what you would need to do if you wanted my help. Instead of admitting that you like to steal people’s time and labor, you have the audacity to insult me.
You claim that you have been ripped off by unscrupulous OC lawyers. Based on our limited interaction, I think it is more likely that you demanded more services than what you were willing to pay for and they fired you as a client.
I have blocked you from my incoming email. I have enough problems of my own without trying to lift up free riders.
I have a question about Federal case in CA in July. I filed in Superior Court against GMAC and MERS but they moved the case to Federal Court in August.
Are GMAC and MERS supposed to answer the complaint because I have not received any answer and its been more than 60-days. I tried to read the Federal Rules of Civil Procedure but I didn’t see anything about time to answer. Thanks.
I looked up what the county recorder requires here in Los Angeles, CA. My documents are lacking the first part of number 5, yet they were recorded:
DOCUMENTS RECORDING SERVICES
Each document presented for recording MUST include or comply with the following general requirements. Documents may be presented for recording in person, by mail or by a courier service. The following are helpful items to remember when recording:
1.
The property must be located in Los Angeles County . (CC1169)
2.
The document must be authorized or required by law to be recorded. (GC 27201)
3.
Signatures must be original unless the document is a certified copy issued by the appropriate custodian of the public record. (GC 27201b, GC 27279, Evid Code 1530)
4.
The legibility of a document is important to the quality of the permanent record.
5.
INCLUDE THE NAME OF THE PARTY REQUESTING THE RECORDING and a name and address where the document can be returned. . (GC 27361.6)
6.
The document must be properly acknowledged, unless exempt. California requires an (all-purpose acknowledgement).( GC 27201 , 27289 , 27285 , 27287 , 27288 , CC 1189)
7.
The Assessor’s Parcel Number is required on deeds, trust deeds and mortgages by local Ordinance.
8.
The notary seal must be legible for a microfilm reproduction .(GC 8207)
9.
When recording documents affecting a change in the ownership of real property, include a completed Preliminary Change of Ownership Report. These forms can be obtained from the County Assessor ’s Office as well as the County Clerk-Recorder’s Office.
10.
Standard page size is 8-1/2″ by 11″; other page sizes incur additional recording fees. As for spacing requirements, the first page of the document must reserve a minimum of 2-1/2″ down from the top of the page, of which the left 3-1/2″ across is used by the party requesting recording to enter name and address to which the document is to be returned following recording. The remainder of this space is reserved for use by the Registrar-Recorder to enter the official recording information. With regard to the vertical sides of the page, a minimum of 1/2″ must be left blank on each side of the document. If the first page of a document does not comply with these legal requirements, attach a separate page to the front of the document which meets these spacing criteria and which includes the title or titles of the document.
11.
Documents must be clearly legible in order to produce a readable photographic record. This pertains to the document text, notary seals, certificates and other attachments, such as legal descriptions. (Gov. 27361.7)
12.
Include the recording fees (see Fees), payment can be made by cash, personal check, cashier’s check or money order. Make checks payable to: LA County Registrar-Recorder/ County Clerk . Mail to: P.O. Box 53115 , Los Angeles , CA 90053-0115
No. He’s in Providence. It’s George E. Babcock and his website is http://www.babcocklawoffices.com. Take a look at the site.
Is George at Power Rd in Pawtucket? Doesnt say anything about him being in real estate. Just construction, elder law, etc.
M
What does George Babcock specialize in? Any references?
Michael
I have been working closely with Ron Houchins in an effort to stop the foreclosure of my home and determine a remedy that will discontinue the proceedings altogether.
Mr. Houchins speaks plainly and clearly as he guides me through this process.
With his assistance, I have filed affirmative defenses against the foreclosure, motion for leave to file additional defenses and counterclaims along with a motion to continue foreclosure hearing.
I am most grateful for his assistance and look forward to sharing updates on my progress.
If you or someone you know is in a situation where you need assistance with a possible foreclosure, I highly recommend speaking with Mr. Houchins and gladly provide his contact information. ron.financialfreedom@live.com
With kindest personal regards,
m. redmon
Michael
George Babcock, Esq.
401 274-1905
Looking for an attorney that Gets It in Rhode Island. Any assistance is appreciated.
jack Utter Video
My God. He said Nothing …was he reading a script. Have him call me please……O Lord! STOP
msoliman
213-627-2324
Thanks for the suggestion of Jack Utter. Interestingly enough, one of my lawyer-buddies in the Bay area gave me his number last night.
Sent him an email and will call in morning.
Sorry! Didn’t think the link would do that.
Karen,
Have you tried Jack Utter in Irvine Calif. He has this video out on U-tube
Thanks for the quick response. I am in the City of Buena Park, County of Orange. My case SA CV09-0961-DOC(RNBx) is assigned to David O. Carter in the Central District of California Santa Ana Division.
My State Case 30-2008-00217056, which was assigned to the Honorable Gregory H. Lewis in the Central Justice Center, had all matters stayed pending disposition of the Federal Case on 08/25/2009.
karen.rozier@roadrunner.com
Karen what city are you in & what judge has been assigned to your case in the central district? did you have state claims, were they all disposed of in state court?
I’m still looking for a lawyer in Southern California (US District Court, Santa Ana) to take over my fight w/ GMAC and MERS. The Scheduling Conference is Nov 2, 2009.
OC Case was — 30-2008 00217056 (filed October 28, 2008) but GMAC LLC had it removed to Federal Court in August 2009. NOD was 3/3/08. We’re still in the house.
Willing to work w/ lawyer to help them get it, because I sure do.
One the folks on the “attorneys that get it list” Ron Houchins is one of the best. He has helped me with all kinds of lawsuit issues and foreclosure defense. He is a must use with pleadings and filings. He can be found under Georgia on Attorney that gets it list or ron.financialfreedom@live.com
Guessing the income was fraud. Did they ever qaulify for the adjustable in the first place? Federal Deceptive Lending Practices.
I have been embroiled in a predatory loan case for a while now. Borrowers only spoke spanish, broker forged all of the loan application docs, they had good credit but got an “adjustable” rate loan at 11.3%, with a minimum rate of 7.75% – which means the rate will never go below that, and paid out $17k plus for broker fees. Dragged to federal court by the banks and then then bludgeoned us to death with motions to dismiss and an MSJ before discovery ever started! Judge held that equitable tolling shouldn’t apply because borrowers were “on notice” when they sought a loan mod in Jan 2008. Now we’re headed back to state court to argue rescission by fraud. I’ve been arguing that broker is original lender’s agent and therefore liable for the forgeries/fraud. Anyone out there with similar litigation let me know or feel free to contact me for research collaboration. huprichlaw@gmail.com
OK, my two cents here:
Any State Bar is 100% voluntary. If I was to make a complaint against a attorney I would make it to the State Supreme Court. I have gotten better results this way…
Also, look up in the law what the lawyers are bound by in their dealings with the general public and did they follow the law. Do a search on them and find out if there have been any other complaints filed against them. Most of the time the bad ones have a number of complaints….
Mortgage Audits
oliver@ipa.net
john
more than that ondrea i’m pretty sure that a services for services deal is a violation of one of the regs the bar has authority to enforce. like one of the rules is maintaining identity of clients funds in a IOLTA account independent from any co-mingling of other expenses, liabilities or monies in the attorney’s personal accounts…. but good luck with the bar, they’re about as passionate about enforcing the rule of law as the courts are. i filed my complaint long ago with them & still haven’t made it passed the “investagations” unit for discipline actions to be filed
this goes out to nick who posted the story about representing himself and the low life attorney who claims to have represented you while you became her free workhorse.
1) file a complaint to bar.
2) she breach her end of the deal to competently represent you .. document every thing she did not file timely and her details of her abuse towards
3)bill her at an hourly rate for all the work you do for her.
It appears this low life attorney is using you for free work while doing nothing nothing for you case. As far as I can tell hiring you to work for free is illegal. you paid her money to represent you, to do her other work for other clients while not paying you for that is illegal. This attorney should be disbarred.
Welcome to the club Nick!
Can you elaborate on why she feels your case will be dismissed.
To Nick, Dying Truth and Others,
I thought this research is perhaps what you may already know and my comment is that there has been no reports coming out of the news or other reporting bodies about any wins in the mortgage honesty movement in any big numbers but I believe like Neil that they will be coming as soon as enough research and the courts get caught up with what is going on like the opinion in Mass….
http://mortgage.freedomblogging.com/2009/08/06/foreclosure-wave-gets-bigger/15037/
This was updated August 6, 2009. It may be specific to Orange County, CA, but it’s symptomatic of problems across the nation.
See the earlier link and chart for a graphical representation of what’s
happening in the mortgage markets.
http://mortgage.freedomblogging.com/2009/05/20/loan-reset-threat-looms-through-2012/10791/
http://mortgage.freedomblogging.com/files/2009/05/reset-chart-for-blog-april.jpg
The chart was prepared by Credit Suisse, and it shows resets out to
September, 2014.
The wave hits (or continues, however you see it) between now and March, 2012.
Mortgage Audits
oliver@ipa.net
john
HA! you see that john? you can tell just by the cal-corrupt attorney pattern of practice, it’s like thier signature.
california oakland
NICK that’s crooked california attorneys for ya welcome to the club, mine waited 8 months to file the complaint collected over $7,000 then tried to get me to dismiss the suit release all claims. so i fired him, opposing counsel filed a motion to dismiss and then the little prick filed a motion of non-opposition after he filed a motion to withdrawl. california attorneys are horrible and the judges are even worse
Nick,
What State are you in?
Mortgage Audits
oliver@ipa.net
john
I would like some advise on what I should do. I filed a complaint against my lender and broker Pro-Per back in October 2007. The basis of my complaint is that my loan documents were forged and was the victim of predatory lending. I filed Pro-Per because I was unable to afford a lawyer. I have been able to survive two different Demurs and Motions to Strike and Motion for Judgement on the Pleadings and have a trial date in March 2010. Over the past two years I was always careful to follow the court’s procedures and comply with all deadlines. In May 2009, I hired a lawyer that read my story that I posted on this website. When I met with her, she was confident that she could help me and was very convincing. I felt she had the same passion that I did to fight against predatory lenders and win my case. I informed her up-front that I did not have much money. I paid her a retainer and she said I could work on her home and also file court papers as she needed me. At the time that I hired her, I was about to attend a deposition by defendant. She attended the depo with me, but she stated that she was unaware of the details of my case, so she was not objecting to anything, so I left the deposition feeling that it did not go well. When I first met with her, I informed her that I needed her to send out discovery and set up depos, She stated that she wanted to Amend the Complaint to add additional defendants and Causes of Actions. None of this has been done as of today. Seven days after I paid her the money, she was threatening to withdraw from my case because she said that I was not complying with her requests for my documents, which was not true. I gave her all the documents that I had. She also said that she was unable to get in touch with me, which was also not true because I had been to her house numerous times to do work. Defendants served a Request for Production of 22 different documents, and the day before they were due, she called and informed us that she was not able to prepare the documents and that we needed to do retrieve the files from her home, which is at least 25 minutes from where we live, put the documents in order and make copies and bring them back to her. She was very verbally abusive toward us and after a confrontation occurred between my girlfriend and her she informed me that I was not to discuss my case with her or she would resign. This made it very hard for me because my girlfriend has helped me from the beginning. She never should have had us doing her job to begin with. We are not attorneys’ and that is why I hired her. She became very negative and said that I was going to lose my case and the judge was going to dismiss it.
After her first CMC (which she filed the statement late), the judge required a status letter to be filed by a certain date with she did not do. Over the next several months, I was at her home at least every other weekend and during the week, filing documents, all over the bay area, never missing any of her deadlines for her other clients, always available when she needed me. I had requested more than once that we discuss the details of my case and our strategy’s and she refused stating that there was no time for that and she was not going to waste time listening to me. As the next court date approached, she did not file a timely CMC statement or a status letter. I sent her a lenghly e-mail with my concerns that she was not properly representing me and did not treat me with respect. After several attempts to contact her, she finally telephoned me and informed me that she wanted to withdraw from my case, and that I needed to sign a Substitution of Attorney and that the judge would most likely be dismissing my case and trying to intimidate me by saying that I was going to lose my home. I refused to sign anything and told her that I would see her in court. This was the third time she had threatened to withdraw and it had only been three months since I hired her. By the day we appeared in court, she had not filed a substitution of attorney or had she filed the CMC statement. She arrived late to court and immediately informed the judge that she would be resigning. The judge wanted us to try to work it out. As soon as I requested to speak, my attorney said that she would be willing to step outside and talk to me. We worked out our differences and informed the court that she no longer was resigning and the judge assigned my case to mediation. Again my attorney stated that she wanted to amend the complaint to add additional defendants. The judge said that she should do this immediately. The judge ordered that we choose a mediator and inform the court within 30 days and set a Compliance hearing. My attorney again did not comply with this request even though I worked for her again and sent her a reminder email to notify the court. She not only didn’t send a status letter, she also failed to appear at the compliance hearing and now is subject to sanctions. The judge has ordered both attorneys to appear to show cause why she should not sanction them further or dismissal of the actions/striking of the pleadings pursuant to CCP 177.5 and 575.2.
This is where I stand now. I sent her an e-mail asking her why she had not complied with the court and that I was very concerned because she had not done anything she said she was going to do. I also asked her what the judge meant by that. She said that she had chosen a mediator and did not know why the court did not receive any documents from the mediator. It is not the mediator’s responsibility to notify the court. It was hers. She then informed me verbally of the mediation date. The OSC hearing is set for 11/05/09 and she is to file a declaration by 10/29/09. She has not filed anything in my case since June 8, 2009 which was one week after she was retained. She has not provided me with the legal representation that I am entitled to, nor has she conducted any discovery or responded to any of my requests. I don’t know what my legal rights are. What happens to my case, if she continues to be noncompliant. Would the judge actually dismiss, and if so, what is my recourse?
I have worked so hard fighting lenders, brokers, and their attorneys. I have gone to the Department of Real Estate, Department of Corporations, District Attorney’s office, Department of Justice, and even appeared on Channel 7 on your side with my story. I have stopped the illegal sale of my home five times, with the last time on the court steps at 12:05 p.m. on the day of the sale. I have never given up and am still in my home and intend to remain here for a long time.
I believe in what I am fighting for and intend to try to help innocent homeowners who are victims of Predatory Lending Practices and against crooked lawyers who are misleading and taking their monies.
This is why I am asking you for your advise as to what I should do. I am posting this on your site because this is where she found me and I don’t want this to happen to anyone else.
I want you especially to become aware that this is happening on your website. I was told that I should not make a complaint with the State Bar while she was still representing me. I do not have money to hire a different lawyer, but can I proceed with a lawyer that I do not trust.
Neil, thank you for taking the time to read my story. I anxiously await your reply and the comments and advise of your readers.
why is it that courts allow banks, lenders, servicers etc… the advantage of having 1 lawfirm represent them against numerous homeowners but deprive homeowners the same equivelant advantage when seeking to be certified as a class? then they try to use “tila rescission is a personal remedy” yeah its provisions were supposed to be self-enforcing and only brought before the court to enforce its authority upon a lender who does not reply, but the courts aren’t even doing that now, instead they use the last line “unless otherwise ordered by the court” and abuse it to the fullest ignoring all procedural guidelines. more judicial accoutability is needed
I have been drive out of my home, lost many personal items after the writ of possesssion was served. I almost had to put my rotwieler to sleep cause I could not find him a home. All becuase the lenders were to busy stuffing money in there pockets, they broke chain of title 8 times and they are still prevailing. I have managed to keep the new owner of (invailed) trustee sale at bay by the a[ppeals court. My rights as an American has been violated and they now have made me mad. I am a License Private Investgator in the state of California acting in Pro-per in my mortage civil case. I am filing a civil action and pressing charges from the DA’s office for FRAUD. One West Bank ) < Indymac Mrtage Servies Inc was working out a modification becuase I met all the requirements from the Presidents package. NDEx West LLC ( which was sub in after notice of default) had first hand information that there was no note. I put them on notice and they snuck a false trustee sale to another LLC and they both are being investigated for several charges, Now I am going at the Bank full force. They might of won the battle but I will win the WAR
Greenfieldinvestigations@yahoo.com
Does anyone know of a competent attorney in the Metro Detroit Area? My client is with HSBC and the loan mod won’t provide enough relief.
hey I think I know how to track exactly where original notes are you know on trust deeds how when you see copies , you will always see that barcode on the first page redacted well I think that if you are able to scan the original unredacted it will tell you its history and current location
I have a question maybe someone can answer in laymen’s terms.
What would be the differences of a Warranty Deed,
Special Warranty Deed (From Corporation),and
Special Warranty Deed (Corporate Seller) and why would the original builder /seller use any one of these
when they sold the home to the buyer ?
This is down in the Tampa/St.Pete/Clearwater,FL.area.
Any posts I would appreciate or you can e-mail me at
stythomas@yahoo.com
Thanks,
Tom S.
john what are you saying did soliman rip you off?
If the pretend lender (now referred to as “Collection Agency”) has magically received an assignment of mortgage to give them standing to pursue your foreclosure, just point the judge to the case law which governs conveyance of title (In Florida – Check your own states laws for similar statutes).
THE DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FIFTH DISTRICT
DGG DEVELOPMENT CORPORATION v Italo Dante Capponi Case No. 5D07-2676
________________________________/
Opinion filed June 20, 2008
..”If a deed is executed by the corporation’s president, vice-president or chief executive officer in compliance with section 692.01, no corporate resolution from the
board of directors is required to evidence the authority of the person executing the document. Such authority is granted by statute. If the person executing the deed does not hold one of these offices, an authorizing resolution must be obtained and should be
recorded. Similarly, if a deed is executed in compliance with section 689.01 (Florida Statute) but is
signed by someone other than the president, vice-president or chief executive officer,
an authorizing resolution from the board of directors must be obtained..”
Action: Strike the Assignment: insufficient as a matter of law, fraudulent, parties are not employed by XYZ Corp, (use discovery as a means to your ends), either way, if they are officers, no corporate resolution filed.
http://caselaw.lp.findlaw.com/data2/floridastatecases/app/app5_6_2008/5d07-2676.op.pdf
I need a lawyer in the east bay area of california, i have started the process with a lawyer but he is only a work comp lawyer, thanks to mahor soliman advice all he has done is taken my money i need to keep the ball going to wear out GMAC thanks
ALL,
Here is the guide to looking up public records for fraudulent assignments. It is based in Florida but can be used everywhere. Any feedback is welcomed, good and bad. If you think something should be added just let me know. We can keep it a working document adding the forgeries that you all come across.
If anyone needs help finding information on your “vice president” or “assistant secretary” just let me know and I will see what I can come up with.
Feel free to pass it on to anyone you think it may help…
http://bit.ly/2Q4toi
Good luck!
4closureFraud
Thank You for posting these links. I was getting tired of telling article writers they should try being in foreclosure before writing about one.
Is mass media beginnig to pay some attention?
This was posted today in CNNmoney.com :
http://money.cnn.com/2009/10/08/news/economy/Predatory_lending_lawsuits_increase/index.htm?postversion=2009100817
(Part 2) Here’s your one-stop “megaphone” where you can E-Mail letters to your elected representatives, talk shows, the media, and even write letters to the editor. Tell them what you think!
http://bit.ly/18N0E8
@4closureFraud
DyingTruth
Posted a reply this morning to you but it got stuck in “waiting for mediation” so i thought I would try again in two parts…
Here is one of the better contact list (part 1) I have come across…
It is all consolidated in one place.
Most Representatives and Senators have ended the use of real email addresses and only use web forms.
http://bit.ly/GJQUF
@4closureFraud
Thanks Alina,
I created the twitter account for the sole purpose of consolidating real time updates regarding the frauds. I’ll see what I can come up with on that contact info you are looking for.
4closurefraud
Foreclosure Fraud,
Love your twitter account.
DyingTruth,
They did con that little old lady. When reading that one year Tila expiration date I thought something was wrong. Under the Comptroller’s Handbook pg. 40 http://www.occ.treas.gov/handbook/til.pdf
there’s a lot more to the Statues and Limitations.
Like how the court dismisses her case by just using the first sentence. I sure hope see did go back and appeal.
The Statues and Limitations also says if state law allows.
Yes under CA CODE OF CIVIL PROCEDURE
SECTION 377 3. An action based upon the rescission of a contract in writing.
The time begins to run from the date upon which the facts that
entitle the aggrieved party to rescind occurred. Where the ground
for rescission is fraud or mistake, the time does not begin to run
until the discovery by the aggrieved party of the facts constituting
the fraud or mistake.
DyingTruth
Here is one of the better contact lists I have come across…
It is all consolidated in one place.
Most Representatives and Senators have ended the use of real email addresses and only use web forms.
http://bit.ly/GJQUF
Here’s your one-stop “megaphone” where you can E-Mail letters to your elected representatives, talk shows, the media, and even write letters to the editor. Tell them what you think!
http://bit.ly/18N0E8
4closureFraud
Foreclosure fraud Do you think you could get the email addresses to everyone in the senate financial services committee? do all of you guys think TILA could be a little stronger? then hound the senate financial services committee to pass the H.R. 1728 bill that they have been sitting on since may
Aint no thang because you could be a business, church or a Quickie mart you still can’t convey real property without a valid real estate license
Foreclosure fraud could you get me the email address of a C0RM@C J. C@RNEY please hey steve check out how rude this guy was to this little old lady & tell he doesn’t need a morality check http://noonanandlieberman.com/media/pdfs/Edelman_v_Bank_of_America_Corp.pdf
Steve,
I set up a twitter account just for this. I have google alerts pull all the relevant data on over 100 key words and post it to the twitter account. It is amazing what it finds. Feel free to follow it at http://twitter.com/4closureFraud
4closureFraud
Under my “Google News Alerts” I have mortgage fraud and predatory lending listed so when every article that comes out I can add to the comments. And over at http://www.affil.org is one of the mass mailings you can join to send congress. But maybe thats not enough. If anyone wants to list their judge or anyones email address who, “doesn’t get it.” I’d be happy to forward my hardship letter. Why should my lender be the only one to have a copy.
OC CA same state as you hey do yourself a favor check here http://search.dre.ca.gov/integrationaspcode/ to see if the trustee that you were/are dealing with holds a valid License because before my loan got transfered Fremont’s Trustee Notarized all those docs, when looking up the license info make sure its the same exact name pay no attention to similars unless it says they’re related
Dyingtruth
—the notarization might be dependent on which state you are in. A while ago I read about what is required in Calif. since both my NOD (notice of default) and the NOS (Notice of Sale) were not notarized (2007). I think I recall that these two documents did not have to be notarized in California (now mine were done long before the Perata 1137 bill was passed and came into effect re: declarations etc.). But please verify that if you can with an attorney or search the laws online. Of course the Perata 1137 might have an effect and I do not know particulars about your docs.
Disclaimer: I am not an attorney and not offering legal advice.
ALSO- I’d be very careful about contacting any judge who is handling your case with emails or faxes —re articles etc.
I’d advise that a similar strategy be used with your lawmakers and President BO.
There are sites online where you can mass send to congress emails.
The congress and PBO needs to help homeowners now and make banks accountable.
All,
urbanlotus, on October 6th, 2009 at 2:21 pm Said:
“Oh and I forgot to mention that there IS A LOT OF MENTION OF NEILS WEBSITE here in the Huffington Post under comments in this article:”
http://www.huffingtonpost.com/arianna-huffington/lack-of-legal-help-one-mo_b_310353.html
Linda”
This is what we ALL need to do…
Post in the comments section in every mainstream article/report/blog post that we come across regarding anything related to these frauds. Send emails to all the bloggers/journalists/reporters mentioning the frauds. Facebook it, Twitter it, Reddit, Digg it, and update your blogs DAILY. Contact your circuit JUDGES through their email address and faxes (I send emails directly to my judge and his assistant once or twice a week, if you need help finding your judges email address just let me know. Figured out a 90% success rate on getting them).
The masses still do not understand what has transpired not to mention the judges. They still look at it as a borrower got in over their head and did not live within their means… That is absolute BS! We didn’t create the inflated home values, we weren’t looking for signatures to fill presold notes, we weren’t “investors” trying to flip houses, or Wall Street selling securities, we weren’t looking to get paid out on insurance or bailouts etc. We were homeowners looking to better our families, our lives, our future, and our childrens future, that believed in a system, a government, that was lead by greed and corruption.
There are so many people that read/contribute to this site. If we all start doing this we can help turn the tide. I know I will…
4closureFraud
don’t NODs NTSs etc.. need to be notarized to be recorded?
HEADS UP IN CA ! PLEASE BE AWARE AND BE CAREFUL!
ON September 29th, 2009 Dying Truth kindly brought up to our attention the following:
“I STRONGLY URGE EVERYONE(IN CA) WHO RECEIVES A NOTICE OF DEFUALT ETC… TO GO TO http://search.dre.ca.gov/integrationaspcode / TO CHECK OUT THE LICENSE STATUS OF ANYBODY CONDUCTING YOUR FORCLOSURE”.
I tried the link and searched for Quality Loan Service Corporation, and it produced a record (and one record only) for an equally named company that was purportedly first issued its license ID #01244892 on 10/23/98; the record lists the same as EXPIRED on 10/22/02; Caveat: the record reads: “(Unofficial — taken from secondary records)”. The Title of this record reads STATE OF CALFORNIA DEPARTMENT OF REAL ESTATE.
Then I searched for the same company name through the Secretary of State California Business Search portal (http://kepler.sos.ca.gov/) and, surprisingly, it produced a record for a company named QUALITY LOAN SERVICE CORPORATION, Number: C1613350, Date Filed: 5/11/1988, Status: active, Address: 2141 5TH AVENUE, SAN DIEGO, CA 92101.
I don’t know what other readers will interpret out of this, but personally I am picking up the following:
1.) It appears that from 10/23/98 to 10/22/02 there were at least two Active corporations in the State of CA with very similar names, one was named “Quality Loan Service Corporation” and the other is named “QUALITY LOAN SERVICE CORPORATION”.
2.) The former is supposedly defunct; the later apparently is still Active.
Conclusion: I am not quite sure that at the moment (State understaffed ?) any CA State information available over the Internet is completely reliable; further, the http://search.dre.ca.gov/integrationaspcode search portal does not seem to pick up all CA corps.
Dying Truth: thanks for your efforts and please do not let this (possible) glitch discourage you.
DanielG
DyingTruth,
I am done for night, but bumbling around I found another snippet on an Attorney website (grammar not so good but advice maybe)
————————————————————
http://timothymccandless.wordpress.com/2009/10/02/the-case-is-lost-when-you-stip-to-the-commissioner/
The case is lost when you stip to the commissioner
2 10 2009
remember this if you forget everything else you don’t have to agree to take a commissioner in your eviction case he has thirty or so cases per day and therefore does not have time to listen to your defenses to the foreclosure or that the sale was not dully perfected . He will politely say I do not jurisdiction to hear these defenses. if they present the Trustees deed its over.
See Cal. Const. Article 6, §§21; 22
CCP § 259(e)
Just read this on FDN website, it apparently occurred in August or earlier by date of the Post……..
http://foreclosuredefensenationwide.com/?p=151
“……….Adding to the recent string of borrower victories, a California Superior Court has granted a Preliminary Injunction restraining IndyMac Bank, First Federal Bank of California FSB, NDEx West LLC, and OneWest Bank FSB from selling, transferring, encumbering, or conveying title to the borrower’s property or commencing any unlawful detainer action against the borrower pending the borrower’s lawsuit against IndyMac et al. The lawsuit was filed by Jeff Barnes, Esq. through local California counsel in response to a threatened foreclosure which is grounded on loan documents containing forged initials and signatures of the borrower on Option ARM documents which the borrower never signed………”
To Deontos
msoliman@borrowerhotline
213-400-3347
DyingTruth
MSoliman has had some noted successes
at the UD hearings stage. Do you have his
contact info?
Dyingtruth,
Did you see Abby’s recent Post with the “Guide” link?
——————————————————————————————
Comment on Find A Lawyer That “Gets It” by Abby in CA
from Comments for Livinglies’s Weblog by Abby in CA
Scott, Scott from California—any updates for your situation?
There is the California Judges Bench Guide (free) about Unlawful Detainer (eviction).
http://www.scribd.com/full/20618105?access_key=key-19hlj78xq5dalregutks
——————————————————————————————
& as far as i can tell i’m still the owner so how can they even get away with any of this?
ALRIGHT GUYS I NEED SERIOUS HELP I HAVE TIL TOMORROW TO FILE A RESPONSE TO AN UD. THE FORECLOSURE WAS CONDUCTED BY QUALITY WHICH DOESN’T HOLD A VALID LICENSE IN CA, WE WERE NEVER TOLD WHEN AND WHERE THE TRUSTEES SALE WAS SO WE COULD FILE A BK FIRST, MY TILA RESCISSION CASE IS IN APPEALS. WHAT & WHERE DO I FILE??????
Scott, Scott from California—any updates for your situation?
There is the California Judges Bench Guide (free) about Unlawful Detainer (eviction).
http://www.scribd.com/full/20618105?access_key=key-19hlj78xq5dalregutks
2009 date.
FYI…once UD is filed, the ‘landlord’ is your lender or foreclosing entitiy and you are the ‘tenant’.
It is chock full of citations you might be able to use.
Oh and I forgot to mention that there is a lot of mention about Neil’s website here in the Huffington Post under comments in this article:
http://www.huffingtonpost.com/arianna-huffington/lack-of-legal-help-one-mo_b_310353.html
Linda
yes well I just sent a client to see it because he has money but somehow just can’t seem to pay the attorney which translates to me getting paid. I told him he needs to see it as education. He said he heard it was a comedy. I told him that it was a tragedy AND a comedy. You go see the film and then you tell me.
BTW, evidently, according to Arianna Huffinton, the cops at the end of the movie LET him run the crime tape around the big banks because of the amount of pension they lost from this bank blowout. There’s a revolution a comin’
Linda
http://www.huffingtonpost.com/2009/10/05/as-economy-crashes-banks_n_310565.html
DyingTruth
Disposable Caskets???
I think they will turn all the people into Soylent Green–hopefully you know of this 1973 film…..people turned into Soylent Green wafers and fed to other humans….remember all the scenes of the homeless?
That ways, they can make even more money….selling the Soylent Green wafers…..
OOOOPPPPs, don’t want to make their scheming brains work much harder!!
Urbanlotus
thanks for the info on Michael Moore film.
I had blogged a few days ago under Homeowners that folks shoud see it as it only supports all of us on this site and in this predicament.
I got blasted by someone for posting that!! The person tried to tell me to go be a communist or something.
I bet that person had not even bothered to see the movie….Capitalism…a love story.
Really, the interviews Michael did with Ohio Rep Marcy Kaptur are terrific.
The attorneys on this site should see the documentary.
Try almond milk…helps stop foreclosures.
I haven’t drank cows milk in many many years mostly because I don’t need any more hormones than I already have. But that’s another living lie that has already been told.
On a lighter note, I saw Michael Moore’s film and think that everyone needs to see it. Everyone. And then they need to protest. How? I have it all laid out in my blog:
http://urbanlotus.wordpress.com/2009/10/06/a-non-violent-revolution-american-style-civil-disobedience-part-2/
Linda
POP QUIZ: WHAT ARE THE TWO MOST PROFITABLE CAREERS IN THE COUNTRY? LAW & MEDICAL. NOW BEFORE THE FINANCIAL MELTDOWN YOU MAY NOT KNOW THIS BUT THERE WAS/IS A COMPANY CALLED MONSANTO (THE ONE WHO MADE AGENT ORANGE), ONE OF THE THINGS THEY CAME UP WITH WAS A HORMONE THEY INJECTED INTO COWS THAT MADE THEM PRODUCE MORE MILK, RUBBERSTAMPED BY THE FDA BUT KNOWN TO MONSANTO, DRINKING THE MILK AFFECTED BY THE HORMONE CAUSES CANCER. TODAY THIS MILK IS STILL ALL OVER AMERICA, ITS USUALLY ALWAYS THE CHEAPEST BRAND LIKE GREAT VALUE, PRETTY MEST UP WHEN YOU THINK ABOUT IT THEY’RE TARGETING POOR PEOPLE AND WHAT’S WORSE THAN OUR GOVERNMENT NOT STOPPING THE INHUMANITY THEM MAKING A BUCK OFF OF IT (HEALTHCARE REFORM) AT OUR EXPENSE, HEALTH & MONEY WISE. WHEN YOU THINK ABOUT IT IT’S ALMOST EXACTLY PARALLEL TO THE BAILOUT BILL SET UP. OUR GOVERNMENT WON’T DO EARTH NOR ITS PEOPLE ANY GOOD UNLESS IT MAKES THINGS CHEAPER FOR THEM OR THERE’S PROFIT TO BE MADE AT THE EXPENSE OF THE MASSES BUT FOR THE BENEFIT OF A FEW. JUST LOOK AT THIER CONCERN WITH THE ENVIORMENT, YEAH THEY PROMOTE RECYCLING BUT ONLY BECAUSE IT SAVES THEM MONEY, BUT WHAT ABOUT OIL? THEY CONTINUE TO SUCK THE BLOOD OF THE EARTH, NOW ONLY TO SEE THE BEGINNING OF THE EARTH DEFENDING AGAINST THE SUCKING OF ITS BLOOD ( KATRINA, TSUNAMIs, EARTHQUAKES ETC…). NOW THIER ULTIMATE GOAL IS TO GET RID OF %75 PERCENT OF EARTHS POPULATION & MAKE MONEY WHILE DOING IT SO THINK TWICE BEFORE YOUR “TERRORIZED” INTO DOING SOMETHING THAT SHOULD HAVE MORE TIME TO CONSIDER BUT THEY’RE TRYING TO RUSH OR GET A FLU SHOT THAT HAS BEEN PROVEN TO BE MORE HAZARDOUS THAN THE FLU THAT THEY HAVE BEEN PREPARING FOR ABOUT 10 YEARS & APPARENTLY WILL BE AT ITS MOST DEADLY IN THE UPCOMING 30-60 DAYS. IF THIS IS TRUE THEN WHY ARE THEY LETTING FRAUDULENT FORECLOSURES FLY THROUGH FOLLOWED BY UD/EVICTION CASES PROCEED IN MASS NUMBERS WITHIN THAT SAME TIME PERIOD LEAVING MILLIONS OF FAMILIES HOMELESS WITH ONLY ONE INEVITABLE PLACE TO GO…. THE DISPOSABLE CASKETS THAT THEY HAVE BEEN PILING UP FOR OVER THE PAST 10 YEARS. ALL FOR THE SAKE OF PROFIT…..
Ok, so where is the list of lawyers and states??
Title of this page is very missleading.
Need help in PA, victim of predatory lending.
Yeah I am Still Up because unlike people just trying to make $$ i do lose sleep over people in unfortunate disspositions as well as my own. Once they file the UD is when you strike back, try to somehow get ccertifiable proof were not licensed nor authorized to conduct the foreclosure(also look to see if NOD etc. was notorized), then you show up to the UD & motion to have it set aside present the evidence that they had no right, then I believe from there you can dispute the right to title.
again please remember I am not a Lawyer and have not gone through this process myself(but soon will prob have to) so ANY PROFESSIONAL CLARIFICATION WOULD BE GREATLY APPRECIATED FOR EVERYONES SAKE(ie. what, where & howto file)…. NEIL ANYONE…
good luck we all need it
dying truth:
You asked me awhile ago who my Hard Money lender was. …I dont know it was at 13.9 % and i barely got approval and the next day the lender pulled a fast one and Auctioned off the property..
I called theCounty today and got the file number for the UD that hasn’t been served to me yet, and i have access to one of the Attorneys that speaks at Neils Seminars and has alot of input on all the present issues.
I have a finance problem right now so until I can retain him I am on my own.. I paid 5 dollars for that foreclosure guide hosted on Scribd and I think i found a couple of discrepencys so now im even more confused what to file tomorrow.. If your still up and can direct me to a lemans order of actions that would save me some time.
Good Luck to all on your Quest for Truth.
I’m not sure I was hoping Neil might have an answer….
dyingtruth,
thanks for the obvious.
I looked up companys name and the person who signed trusttee sale notice and they are not coming up with any results.
The person who signed the notice of default has a signature I cant read but it is defenitely different from the trustee note signature??
What comes from this??
I STRONGLY URGE EVERYONE(IN CA) WHO RECEIVES A NOTICE OF DEFUALT ETC… TO GO TO http://search.dre.ca.gov/integrationaspcode/ TO CHECK OUT THE LICENSE STATUS OF ANYBODY CONDUCTING YOUR FORCLOSURE
HEY EVERYONE HAVE ANY OF YOU HEARD OF “GIANT GATE GROUP INC.”? THIS COMPANY SHOWED UP ON MY FRONT DOORSTEP TO HAND DELIVER AN OFFER OF $700 TO HELP EVICT US AND THREATEN TO FILE A SUIT TO TAKE POSSESSION OF MY PROPERTY. NO TRUSTEE’S DEED HAS BEEN RECORDED MY CASE IS IN APPEALS SHOULD I FILE A MOTION TO STAY PROCEEDINGS IMEDIATELY OR WHAT?
Looking for a lawyer regarding a foreclosure case’s in Oregon
Emmett and Orslynne in Dallas we spoke with a Lawyer out of Houston just a few months ago and we were to forward info for them to take our case unfornate we loss their info could you please contact us via email either the one that is given or at emmettwashington@gmail.com and referance what we spoke of please we certainly would like to get started ASAP. Must be familar with conditional acceptance and 1099s or be open minded. I look forward with talking with real people of honor and integrity and working with honest lawyers you all are a breath of fresh air and hope for the american people.
Michael G–who is the attorney in San Diego you work with? Please let us know.
Investors and borrowers:
West Virginia Investment Management Board 2nd plaintiff firm named alongside the Public Employees’ Retirement System of Mississippi in Morgan Stanley Class Action Complaint For Violations Of Federal Securities Laws
http://securities.stanford.edu/1043/MS09_01
Neil,
Thanks for all the info on your blog. I am doing Forensic reviews for many clients with great out comes. I work with a San Diego attorney who is not listed on your list. He seems to be doing a great job at reasonable prices. He is one of the few attorneys who is actually doing the work. He has helped several of my clients. Because this is such an evolving industry I am getting request from people in Michigan. Do you have any attorneys who do this type of law in Michigan you can recommend?
Mike,
You need a forensic audit by a certified fraud examiner and expert, then you need to sue the lender. I would be proactive. Since you are not in arrears or have a foreclosure pending, it looks like you can take them to task. I have more info if you want it.
You also need to inform the FBI. They do have CFE’s onsight and it’s my understanding that they have a task force in place to address mortgage fraud but I am not sure if you will get damages for any thing they come up with, but we can check on that.
I can do a bit of research for you. There are others on this sight that can help but I wouldn’t have anyone who isn’t certified as a fraud examiner do any audit for you. Some are experts but quite frankly because of the current climate, better to have someone who is credentialed.
Linda
advancedparalegalservice@gmail.com
I have sent e-mails to the list of Lawyers “Who Get It” well I guess they don’t?? I have a home I purchased on 8/29/08. With copy and pasted in signature of the seller and whited out name of the co-seller on the HUD-1. I have the ORIGINAL document also alot of the docs don’t mach numbers in referance to the good faith estimate. I am not in forclosure nor in arrears on my mortgage everything is up to date. I do know it is against the law to forge someones name. Big question is how do I know the co-seller got paid when his name is on the page 1 of the HUD??? And he did not sign the HUD..I am in New Mexico
Looking for attorney in Florida tol take a house to Quiet Title–
I have three properties that have predatory lending practices that I have owned. all 3 have been foreclosed on and have changed hands so many times through the process tahtwe have letters stating they are working on a loss mitigation with our loss mitigation companies and froeclosed on property within the same week. I need to find an attorney in the cnetral texas area(austin) that gets it on how to work with the kansas city supreme court decision in doin work with these mortgage companies. I still live in one have mecahnaics liens against the properties and have been able to stall any sales of 3 properties for over 2 years.
My partner and I have 6 properties in Milwaukee and I need any info on lawyers that can help me in the foreclosure discovery. Any assistance would be greatly appreciated. Bob
Don;
It has NOTHING to do with Master Servicer who looks after the CF (cash flow) while Trustee shepherds INVESTMENTS (looks after the Investors).
Master Servicer is limited by GAAP ACCOUNTING RULES! . . . and Trustee is free to do as he or she sees fit. (Not anytime soon). FASB and GAAP say no way! Any reduction in principal is called a “Novation” and that EXTINGUISHES the old debt as a payoff . NO CAN DO! (maybe ….big maybe here – a Government owned bank like WaMu / Chase or Fannie Freddie obligations)
Anyone working a Loan Mod is ….Well! It’s not going to happen! M-O-D-I-F-I-C-A-T-I-O-N-S don’t happen where you are seeking a principal reduction.
admin@ borrowerhotline.com
Msoliman
Perhaps this is why my sub-servicer offered a B.S. loan mod, then came back and said we didn’t make enough to qualify for a loan mod
Section 10.02. Prohibited Transactions and Activities.
The Master Servicer with respect to the Mortgage Loans shall not consent to any modification of any such Mortgage Loan for which the consent of the Master Servicer is required under the applicable Purchase and Servicing
Agreement under which such Mortgage Loan is serviced, that would (i) increase the interest rate in respect of such Mortgage, defer for a period in excess of six months or forgive the payment of any principal or interest, reduce the outstanding principal amount (except for actual payments of principal), increase the Servicing Fee on such Mortgage Loan or extend the final maturity date on such Mortgage Loan, or (ii) result in a substitution or release of collateral or in the provision of additional collateral for the Mortgage Loan, unless the applicable Mortgage Loan is in default or default is reasonably foreseeable in respect of such Mortgage Loan, or the Master Servicer has received an Opinion of Counsel (at the expense of the party requesting consent for such modification) that such modification will not result in an Adverse REMIC
Event.
EVERYTHING YOU WANTED TO KNOW ABOUT SECS BUT WAS AFRAID TO ASK*
*How to Find who Really Owns Your Mortgage, who is the Servicer, and who is the trustee.
The Pooling and Service Agreement is the legal document that contains the responsibilites and the rights of the servicer, and the trustee over a pool of mortgage loans.
The Most Important information you will find is the name of the original lender and the title of the pool of loans.
START HERE:
Click on Prospectus Supplement (.pdf) to open the document.
1) Find date that loan was closed (example June 1, 2002)
2) Go to http://www.sec.gov
3) Click on Search for Company filings (under category filings and forms)
4) Click on Company or Fund Name…..
5) Enter the name of the mortgage company that originated the loan
6) You will see a list of different pools of mortgages, (for example if we were looking at Ameriquest, we would find “AMERIQUEST MORT SEC INC ASS BK PAS THR CERTS SER 2002 2. (indicates loans closed in 2002)
7) If there is more than one choice per year you may have to try several to see the correct one.
9) In document click (CTRL-F) and search for “Summary of Supplement”
9) Aha! Closing Date (if this is the correct document your mortgage should have closed before this date). Trustee (is the legal holder of the mortgage), master servicer, sub servicer, all unmasked!
10) Now go to the table of contents and find Pooling agreement and find the page
11) This will tell you all you want about authority is has for workouts, loan modifications, who gets paid.
P.S. YOU NOW HAVE THE TOOLS – USE THIS INFORMATION TO CORNER THEM IN DISCOVERY!!!
Nobody fits the criteria.
Good work JD I only hope that some justice is brought to your situation considering the fact that the people (if that’s what you call them) we depended on to protect us and our rights have failed us miserably It is time for CHANGE, Change how and when we elect a new President of The United States of America and Specify Exactly who fits the criteria
I am not sure if the following is helpful…
Saturday, January 5, 2008
Securitized Trust Did Not Meet Florida UCC Requirements for Enforcement of Lost Mortgage Note
The Florida Fourth District Court of Appeals decided an issue quite pertinent to today’s foreclosure environment in the case of StateStreetBank and Trust Co., Trustee for Holders of Bear Stearns Mortgage Securities, Inc. Mortgage Pass-Through Certificates, Series 1993-12 v. Harley Lord, et al., 851 So.2d 790 (Fla. 4th DCA 2003). The Court held that StateStreet could not maintain a cause of action to enforce a missing promissory note or to foreclose on the related mortgage in the absence of proof that it or its assignor ever held possession of the promissory note. Section 673.3091, Florida Statutes (2002).
StateStreet filed an action in the Circuit Court under section 71.011, Florida Statutes to reestablish the lost promissory note. The Court of Appeals upheld the lower court’s decision and held that the right to enforce the lost instrument was not properly assigned to StateStreet where it was found that neither StateStreet nor its predecessor in interest possessed the note and StateStreet did not otherwise satisfy the requirements of section 673.3091, Florida Statutes (2002) which is Florida’s version of the UCC’s article on negotiable instruments. The court noted that it was undisputed that the note was lost before the assignment to StateStreet was made.
In footnote one, the Court noted that the enforcement of lost promissory notes, which are negotiable instruments, is actually governed by section 673.3091, Florida Statutes and not section 71.011 which governs enforcement of lost papers. It should be noted that the case of Mason v. Rubin, 727 So.2d 2883 (Fla. 4th DCA 1999) previously held that the reestablishment of a lost promissory note which is a negotiable instrument is controlled by section 673.3091, Florida Statutes (1993) and not section 71.011, Florida Statutes (1995). The court explained that section 71.011, Florida Statutes (1995) provides for establishing lost documents “except when otherwise provided” — the implication being that section 673.3091, Florida Statutes (1993) otherwise provides. The court also characterized the provisions of section 673.3091, Florida Statutes (1993) as “more stringent requirements” than section 71.011, Florida Statutes (1995).
The Court explained that pursuant to section 90.953, Florida Statutes, (2002), Florida’s code of evidence, the plaintiff in a mortgage foreclosure must present the original promissory note as a duplicate of a note is not admissible. Otherwise, the plaintiff must meet the requirements of section 673.3091, Florida Statutes to pursue enforcement. W.H. Dwoning v. First Na’tl Bank of Lake City, 81 So.2d 486 (Fla.1955), Nat’l Loan Investors, L.P. v. Joymar Assocs., 767 So.2d 549, 551 (Fla. 3d DCA 2000).
The Court further explained that although it and the Third District Court of Appeals have held that the right or enforcement of a lost note can be assigned, here there was no evidence as to who possessed the note when it was lost. See Slizyk v. Smilack, 825 So.2d 428, 430 (Fla. 4th DCA 2002), Deakter v. Menendez, 830 So.2d 124 (Fla. 3d DCA 2002). In Slizyk, the Court allowed the assignee of the note and mortgage to foreclose as the assignor of the note was in possession of the note at the time of the assignment and therefore the right to enforce the instruments was assigned to the assignee as well. In contrast, here the undisputed evidence was that the assignor never held possession of the note and therefore could not enforce the note under section 673.3091, Florida Statutes (2002). As the assignor could not enforce the lost note under section 673.3091, it had no power of enforcement which it could assign to StateStreet.
The court noted that it did not reach the question of whether Slizyk and National Loan could be applied to allow enforcement of a note if there was proof of possession by an assignor earlier than the most immediate assignor.
It should be noted that in 2004, section 673.3091(1)(a), Florida Statutes was amended to allow enforcement of an instrument if the “person seeking to enforce the instrument was entitled to enforce the instrument when loss of possession occurred, or has directly or indirectly acquired ownership of the instrument from a person who was entitled to enforce the instrument when loss of possession occurred.” It is not clear that this amendment would have changed the court’s decision in StateStreet.
StateStreet was later cited with approval by Dasma Investments, LLC v. Realty Associates Fund III, L.P., 459 F.Supp.2d 1294(S.D.Fla.2006) where the court held that if a party is not in possession of the original note and cannot reestablish it, the party cannot prevail in an action on the note. In Dasma, the court explained that in Florida a promissory note is a negotiable instrument and that a party suing on a promissory note, whether just on the note itself or together with a foreclose on a mortgage securing the note, must be in possession of the original of the note or reestablish the note pursuant to Fla. Stat. § 673.3091. See, Shelter Dev. Group, Inc. v. Mma of Georgia, Inc., 50 B.R. 588, 590 (Bkrtcy.S.D.Fla.1985).
StateStreet was also cited with approval in the case of In re American Equity Corporation of Pinellas, 332 B.R. 645 (M.D.Fla.2005)(Paskay, J.) where the court held that a party must comply with section 673.3091, Florida Statues in order to enforce a lost, destroyed or stolen negotiable instrument. It is noteworthy that the court found that the creditors’ affidavits merely stated that the creditors had searched for the original promissory notes but were unable to find them and failed to state that the creditors ever received possession of the original promissory note.
Scott what’s the name of your hard-money lender & the broker?
Go search on the internet for the Calif. laws regarding foreclosure process. In California Civil Code.
Also search on the California laws for service of the summons and complaint for foreclosure.
The process server will try to hand the summons/complaint to you in person.
Posting on the house is part of the process too by the trustee.
Read up on the new Perata senate bill in California. SB 1137.
Go find Tim McCandless Esq website. He has lots of information on Calif. foreclosure.
One more question,
Do i have to be served the notice?
If they post on the house and im not there the process could unfold and i wont even know..
Well if eviction letters are important to post on the house so the heck should the NOTICE of TRUSTEE SALE UNDER DEED of TRUST which was never posted,
Abbey thank you,
I had read your story and comments before and im glad that you replied to mine.
Im in Calif, and the private lender go it back.
What i am worried about is I moved OFF the property to my ex girlfriends who happens to live next door to the lenders SON.
He knows were im at physically & posession being favored iby law do you think I should I high tale it down there and move back in the house just as planned.
He wants my house and he knows that I nearly just finished a completye renovation and I after I got a hard money loan I defenitely was moving back there asap..
I think I answered my own question, I need to move there and keep posession. I love that house and I was set up to lose it after I fixed it up.
Abbey, or anyone what paper should I file first to stop them from either selling it or moving some one else there. You know move in the local gang to flush me out. I m callin a LL attorney out of S.D. right now..
A divorce lawyer… too funny.
The divorce has been long gone, with the house gone shortly after that. It’s hard to divorce an MIA Wife.lol The divorce process provied a perfect catch 22. Unable to buy out wife without refi, unable to refi without quit claim. We could say she was less than cooperative, as well as out of the country.
Anyways in short, I was hoping for Neil to get whiff of the question as he is familiar with my case. But our Deed legally has/had my name all over it as well as the mortgage docs assoc. with the note. Although the Note was in my wifes name, I WAS REQUESTED TO INITIALIZE MY NAME DIRECTLY NEXT TO HER SIGNATURE. The MORTGAGE had both our names as required by Fl law.
The bank (DOUCHE BANK aka HomEq) refused to deal with me after my wife’s departure and refused me the right to payoff the perfect payment loan when the interest was about to change. Theri claim was they could not talk to me even after the situation was made clear. They even refused to work with the SAME BROKER that put us into the home to begin with.
Anyways… a simple answer to the question would be great. ANYTHING WITH PRECEDENCE. Come on Neil you guru you!
Best wishes,
JD
Wife MIA-have you spoken to a divorce attorney about your situation with wife MIA who owns the Note but your name on loan?
First take, and I am NOT an attorney, is that you have responsibility to pay but don’t own any interest in the property? I don’t know what your deed says either.
Best to talk to an attorney.
Scott
first look on Living Lies for attorney’s that get it…go there and there is a list of california attorneys.
Be aware, that you do not have to move out just because of a 3 day notice to quit.
Now, I am not an attorney but this is what happened to me.
3 day notce to quit scotch taped to front door last Oct. 31.
Next process server will try to serve you with Summons and Complaint for an Unlawful Detainer Action (eviction lawsuit).
Once you are served with these papers, and keep good notes on that process, then you will have a very fast moving lawsuit in Unlawful Detainer–these speed thru the courts and the end result, if you do nothing, is that there will be a judgement and then a Writ issued by the judge. The sheriff will provide you with a move out notice (they do not give many days 5-7?? ) and if you are not out then, they come and move you out with some of your stuff being placed on front lawn.
Now, I had a ‘bad’ service and was able to contest that in UD court so they had to start all over with the summons/complaint service upon me.
Later I filed a mortgage fraud, TILA, predatory lending complaint in the Superior Court of California.
3 Day Notice to Quit last Oct. 31, 2008. I am still in my home fighting for it.
HIghly advise you to contact an attorney immediately from the LL list. Go in person to meet them. Check with State Bar of Calif on their licensing.
Read as much as you can on this website.
NOTE: if you don’t have funds to hire an attorney, like many of us, you can represent yourself in court(s) as a pro se.
Thank You moderator .. That was magical!
Your site is great and gives alot of hope to people, including myself thinking that I would get some referrals..
But how could I if the posts are heavily edited for the good ones or bad.. How do you decipher which persons house and lives are more important..
I had a couple day window and thats gone tomorrow is day 15 post Trustee sale.. HELP
Thank you for keeping this website alive everyone!
I want to contest the validity of the auction itself on a couple of very strong points.
Tomorrow is the 14th day since the auction. The property went back to a private lender and I heard the now Owner is trying to serve me with a 3 day move out order.
What do I need to do to stay in posession?
Does the situation change if I dont live there but pay the utilities? I was in the process moving back there.
Thank You
Any info on a Attorney in O.C. Calif would be great.
First of all will everyone stand and applaud Neil Garfield for his website.
This website is hands down the most valuable asset to any homeowner or prospective homeowner; in trouble or not in trouble that
one could pray for.
I am in need of a Attorney “that gets it ” ASAP..
My matters are very complexed and I have written below questions that I have.
The questions are derived from a incident that reflects my question..
I have allready typed out a detailed version of this posting if needed.
My property had around 200k in equity after I had done a complete renovation while under the Ch:13 protection.
I had no offers and filed 13 a second time. The lender had scheduled a Auction date to be 5 days after my BK hearing in hopes
that his request for dismissal would be granted..
My case was dismissed because of NO show, my Attorney was DISBARRED 2 weeks before and I didnt know.
* I called 10 days before the sell date to ask for reinstatemnet. They knew that I wanted to reinstate and had cash on hand. They
also knew that the private lender wanted to be paid in full.. They emailed me the figure 4 days before court telling me i had to pay
the loan in full because I was within the 5day right of the lender.. I called 10 days before and 7 days before.
* The owner postponed the Auction telling me to get funding he told me will sart with 10 days and will talk then. After changing
his mind he gave me 3 days at a time. Having canceled 4 times which was the 13 day after the original Auction date he decided
not to postpone and told me that morning.. My Loan broker called to tell him that we had funding in 1 week and they we worked
there tail off to make this work. Lender wouldnt wait. I didn’t even have time to organize broker to go to the auction
* After my second dismissal the reconveyance company told me that I had a 12 month bar against me filing BK again. This was
a complete lie. He said that to keep me from postponing. They knew that I had huge escrow.
* ARE the reconveyance company allowed to have such a control on the real estate market, being that I was mislead and there
procedures had some error in them.. . I started to look into the company after the fact, I thought they were just a little hole in the
wall company not being very professional about matters when I called.. As it turns out they give seminars on buying foreclosed
homes. The owner himself talks about being able to buy back propertys that go back to the beneficiary for dollars over the
opening bid because there is no bidding war.
I feel like I was the prey on one of those illegal trips were they bait the bears and wait..
* Just does not make sense to anyone how a property that clearly is opening cheap, and I had it on the MLS and all over the
internet with great pictures and a listing price up to 400,000 which was still under valued.. And there was not a bid.
* I tried to pay the arears within 30 days of my Notice of Default and was told to pay all taxes first and there fees.
* Are the all the fees allowed to be included in the reinsatement figure.?
* I never physically received a Notice of Sale for the second auction and had to follow it very carefully
* There was never a Notice of Sale posted on the property itself for either one of the sale dates..
* Were they allowed to schedule the second auction date while I was in Ch:13?
* Aren’t they required now to offer me some sort of way to stay in my home by reducing the intrest or modifying the loan.
THANk you for reading please send me a contact information for a Attorney ” that gets it”..
Quick questions: ( I have searched for the laws regarding this subject with no results.)
If your wife leaves (gone, M.I.A.) with the “Note” in her name, yet as we were married I am on the mortgage docs, DO I HAVE THE RIGHT TO PAY OFF THAT MORTGAGE?
And: Is it illegal for a lender to refuse me the right to pay off said mortgage when the loan was in good standing?
And: Is there grounds for legal actions and damages if the lenders refusal to deal causes the loss of the home/residence?
I NEED PRECEDENCE!
Thanks.
Homeowners – Interesting reading for those who had loans with servicers that went belly-up:
http://www.consumerlaw.org/issues/financial_distress/failed_banks.shtml
Neil- of all posts, the “liar’s loans” post is not showing up. It seems to be loading and then it cuts off. I really want to read and study this, as I feel that the preponderance of “liar’s loans” were in fact originated by the “lenders” in order to feed the securitization chain, and the news media drivel has served to obfuscate the liar’s loans source. Can you make this available asap? Also, my offer still stands to underwrite by 50% the cost of a weekend conference here in ne pa which will be oversubscribed by my connections/ Period. Get this post up PLEASE. thanks, Ian
I am a forensic loan auditorand have used ‘lack of evidence of assignment of note’ very successfully in my audits and in the Qualified Written Requests I write.
Another trick that works well is to request the ‘agency status’ of the foreclosing party if they are a trustee or servicer. A little note that you’re seeking evidence that the principal holds the note at the time of foreclosure is also a great tactic.
It works–I’ve stopped foreclosures on the strength of the audit alone and have gotten people out of lawsuits, lowered principals and have staved off NODs going on 2 years now.
Have faith, people. Finding the right people is key, of course, but be tenacious–it works. I’m in the process of quieting title to my own home and that’s how I got started doing audits.
A question for Neil.
Neil considering that Sept. 10 was the one year anniversary of the bank buying back my house at the court auction… you know the circumstances.
I have found an attorney that may help with a Quiet Title action. Is it too late to file such an action?
Thanks for your help.
JD
admin:
Please read link posted by Neil 9.8.08 on Lis Pendens.
Here is an excerpt:
“The foreclosing party must step forward and request that the lis pendens be removed. They will do that because any bid at the foreclosure sale will be subject to your claims in the suit you filed against the “lender” at al. This is another opportunity to “win at the beginning” since the “lender” is now required to justify the its authority to have given notice of delinquency, notice of acceleration, notice of default and notice of sale..”
Full Posting:
http://livinglies.wordpress.com/2008/09/08/foreclosure-offense-and-defense-lis-pendens-usury-and-california-exemption-for-banks/
Ian, filing a lis pendens on your own property (followed by an actual complaint (e.g. federal lawsuit) creates an (additional) cloud on your title. Your effectively creating another layer against lenders foreclosing and obtaining good title.
Florida defense team- could you explain in layman’s terms exactly how and why filing a lis pendens on one’s own property would work? I like your straightforwad no nonsense posts. Having filed the lis pendens, what would happen next?
So Obama, I mean Soliman,
Are you saying that you didn’t say anything at all…? Is that what you are saying…!
Mortgage Audits
oliver@ipa.net
john
There is a new comment on the post. / Author: floridadefensteam /
Comment: “Show the lenders they made a fatal mistake and turn the tables on them”.
1) File a Lis Pendens on your own property.
** Not without an attorney and perhaps a bond.
2) Put your QWR’s …. to answer
** HUD is lost to this deal.
[( Yet this is so critical here for a reason. So think and hold the emotions for a second!)]
3) File suit in federal court for violations of RESPA, TILA, FDCPA, FDCPA, etc…
**Only to get kicked out of “District” jurisdiction fast with a swift boot in the Ace!
(Major leagues here people!)
4) Obtain an injunction.
**Really, to stop what! Oppress the lenders rights to a lawful recovery for TILA and RESPA violations that have outrun the statute of limitations.
Hey, it takes big baseballs to sling the comments at Judges as some of you do as of late! My God – it’s not smart in a public forum! Or what is it you know for a fact and can share with us? The professional qualifications of prospective federal judges are closely evaluated by the Department of Justice. HELLO! District judges are appointed by the President of and approved by Senate. (Note – The President does often appoint judges who are generally supportive of their political party. However, that doesn’t mean that judges are solely selected for partisan reasons . . . well? ).None the less it’s the Senate Judiciary Committee that undertakes a separate examination of the nominees.
[(Please use my comments as a rebuttal. No reference is made to the author of these or any comments provided herein!]
admin@borrowerhotline.com /
www. borrowerhotline.com
Now no one can leave: “I will never forget the look on their faces. All eight of them. Their faces dropped. All their courage and strength was drained right from their bodies. They had reputation for breaking up bars, but they knew that instant, they’d made a fatal mistake. This time they walked into the wrong bar” – Bronx Tale
Show the lenders they made a fatal mistake and turn the tables on them. File a Lis Pendens on your own property. Put your QWR’s and Debt Validation efforts into action. File suit in federal court for violations of Respa, Tila, FDCPA, FDCPA, etc… Obtain an injunction. Now no one can leave….
posted by floridadefenseteam@comcast.net
fight foreclosure-
The judge stayed the order for Fed to reveal the names of banks………
http://www.reuters.com/article/governmentFilingsNews/idUSN2838405220090828
Cheryl, on September 7th, 2009 at 9:55 pm Said:
Hi Cheryl,
I have emailed you posted information to an attorney I work with in Ohio. We can set up a conference call to which I can call you and 3 way you in.
If you are interested in doing this contact me directly at oliver@ipa.net
Thanks,
Mortgage Audits
oliver@ipa.net
john
Didn’t I say some thing about that oh well, anyways I stumbled across this some thing about “FRCP 17(a), Ratification of Commencement & Real Party In Interest” link> http://adask.wordpress.com/2009/04/02/frcp-17-ratification-of-commencement-real-party-in-interest/
and figured hey the people not in nonjudicial foreclosure states might be able to use this…
Cheryl
I would advise the attorney at no cost or at least qualify your belief counsel is clueless. People need to realize a great case and claims are not of consequence many times with regards to the interim occupancy. reality hits home when the cost to stay in a home and fight a defense are overwhelming.
Best defense is to file a complaint, move out and take the offense (non judicial states and power of sale examples).
Fight for you rights and seek claims for damages – no one is protesting that in the government. Its just very tough very very tough to wage two wars – especially pro per and fight both battles in a recession. Occupancy cannot REALLY be won until title issues have prevailed.
MSoliman
http://www.borrowerhotline.com
213-880-6288
So be it…..rhetorical discourse is not intended to be a personal attack. I know what is the problem. I know what the lenders fear as liability. i know what the lenders counsel is telling them about settlement or take at chance at becoming exposed. I know what the rules are according to GAAP . We had another case DISMISSED ON FRIDAY AND WON A BIG MOTION IN ANOTHER CASE THE SAME DAY.
If my argument prevails the lender must settle on a better deal for you and that keeps you in the home and affording the MODIFIED payments. If the lender over comes my arguments they open the Pandora box and risk going to jail. Plain pure and simple.
Every one here (with a right and left ear) who contributes should be admired for the effort. If the response is based on a recent article, some conjecture and an abundance of Voodoo…then as Paul Harvey would say “GID Dayyyyyyy! –
I won’t opine and render some HYPOTHESIS when the basic elements for defenses stand solid as Mt Everest and both conditions precedent and subsequent have not changed since 1999. I DON’T STUTTER !
Some people make it to the summit and I commend them . Most make it some distance UP and then quit while some never come back at all. Climb Mt Everest and get the exercise friend. But like the Queen of Soul – I do RESPECT here. – just do not always agree.
Believe it or not!
So be it!
MSoliman
Admin@borrowerhotline.com
Here is a Freedom of Information Act suit Bloomberg and the Fe d Reserve, is it a potential view of things to come?
http://www.zerohedge.com/article/federal-reserve-loses-bloomberg-foia-lawsuit-sensitive-disclosures-forthcoming
Cheryl,
If that doesn’t work I’d suggest conacting Dennis Kucinich he’s a Rep for Ohio & from what I’ve observed a decent understanding person. Good Luck We all need it
I placed a comment in july, so here is an update…..my loan servicer Ocwen has been deemed invalid so my loan went back to HSBC. We received a letter stating that we had a court date set for October 8th. September 3rd we received a letter posted on our front door stating that we have 10 days to vacate the premises. We were not notified in between time as to what was going on we were just waiting for the October 8th court date. The same judge that set the court date is the same judge that signed off on our eviction. The lawyer that we have been working with is not a real estate lawyer, she was appointed to us through a program we have in our county to help us with legal counsel to save our home. When I spoke to her she was not notified either of this eviction and I don’t think she has a clue as to what her next move should be, I mean when I asked her what should be done, her response was….. IM NOT A REAL ESTATE LAWYER but I will file a motion on Tuesday. I mean I feel like im in the twilight zone. Its like HSBC said well, okay, the loan is invalid with Ocwen so the hell with us its back with us now and we will do what ever we want to do which they did…. It seems to me that the judge dont have a clue, my lawyer definitely dont have a clue so were just here like stool pigeons.
Im VERY ANGRY, and something has to be done. I have rights and feel as though they are being taken away from me. Im depressed, distraught, and confused.
I need someone to help me and my family. Im going to contact the lawyer that is posted on this website for Ohio and hope that he can give me some guidance or just takeover my case. I hope that he REALLY DOES GET IT because Im counting on it.
Wall Street Betting on Life Insurance Policies Now
http://chattahbox.com/us/2009/09/06/wall-street-vultures-betting-on-death-if-you-die-early-they-cash-in/
Anyone interested in tactical considerations – please read our latest blog posting on this site at: General Tactical Considerations. Link is on the left side of this blog. Comments and debate are welcome!
To Author Jim West:
You said:
Find someone local with a license who has actual experience.
My question, someone local with a license who has actual experience in WHAT?
I have called over a dozen attorney’s in Arizona asking who would be willing to take a case on a retainer – contingency bases but to no avail.
I have yet to have or see a case of an attorney in Arizona who knows how to argue most of the valid arguments being TILA, RESPA, UDAP, FDCPA and other areas of the law.
I am not speaking bad of you or belittling you; I am just speaking the facts based upon personal knowledge.
Please check my post; Mortgage Audit, on March 30th, 2009 at 2:44 pm Said:
If you are an attorney “who get’s it” and who would take cases on a $2500.00 retainer / contingency bases I have a large number of cases I want to bring to your office…
I have cases of wrongful foreclosure, are you our attorney?
Mortgage Audits
oliver@ipa.net
john
Steve
It was not I saying about the PSA. I also do believe that
each PSA may be different. There is no generic PSA.
Thus, I recommend that you obtain the PSA signed between whatever entitites (lenders, banks etc.) are involved with your own mortgage loan. I think this is imperative.
A very interesting read for Californians:
Regulations of the Real Estate Commissioner as contained in the California Code of regulations Title 10. Investment Chapter 6 Real Estate Commissioner
Article 1
2844. Lending Practices for Nontraditional and Sub-prime Mortgage Products.
http://www.dre.ca.gov/pub_relaw.html
2845. Interpretive Opinion Request
To Dying Truth:
Well said. Let me just add that if the Note was securitized that it is no-longer a Note but a Securitized Instrument (source: Federal Register) which can no-longer be enforced in a court of law / in equity and cannot be “converted” back into a NOTE.
Just think about this and let it soak in. Now tell me a Judge qualified enough to hear a case such as this. There is not ONE Judge that can sit and have 2-cents of an opinion….
Show me where a stock or a bond can be used in a foreclosure action as the promise to pay. Show me case law.
I know they (the Judges) can contribute to stall this off if they want to or if they are told [by the gov] so that the masses will not storm Wall Street and the White House to THROW THEM ALL OUT!
Let’s stay on point here folks…thanks….
Mortgage Audits
oliver@ipa.net
john
alright I’m going to try this once again…. with respect to John Like Neil Said Challenge EVERYTHING and despite how often Soliman insults my comments he does “occasionally” have “some” insightful perspective, and as far as my comment goes I really wouldn’t consider the identity of the actual person that could be holding your note(possessing the ability to enforce it), could negotiate a modification with(if need be) and possible receipiant of BailOut TARP funds(thus removing any standing the investor would have let alone scummy middlemen) “non-essential matters”
Now enough with the local hostility if we’re all going to succeed we all have to do it together United We Stand Divided We Fall that is the only logical option remember it’s Us against them not Us against Us
MSoliman and Others:
I was hoping that those commenting would stay focus on the “real” issues and not drift off to other non-essential matters.
I have sent over 30 emails to purported in the know financial news contributors to which I have yet had one contradict my findings on a Note that has been securitized.
Not one has responded to my question on this blog site.
With no response it is deemed correct. That is the position that will be addressed now in our pleadings.
Mortgage Audits
oliver@ipa.net
john
The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S&L crisis) was the failure of 745 savings and loan associations (S&Ls aka thrifts). An S&L association is a financial institution in the United States that accepts savings deposits and makes mortgage loans. The ultimate cost of the crisis is estimated to have totaled around $160.1 billion, about $124.6 billion of which was directly paid for by the US government—that is, the US taxpayer, either directly or through charges on their savings and loan accounts[1]—which contributed to the large budget deficits of the early 1990s. m.soliman
The Freedom of Information Act (FOIA) provides that agencies have 20 working days to respond to requests.
Tough! Judicious economies of scale favor the Wall Street lender over an individual action. You need more firepower.
msoliman
Has anyone considered a FOIA Lawsuit regarding the “confidential identities” of the “holders in due course” requests made to all the servicers. The one about the identities of the TARP receipients Won in court maybe that would shed some light on a very dark area
More stuff on S&P:
http://www.pbs.org/now/shows/446/index.html
I love the IM where one employee states, “It could be structured by cows and we would rate it.”
No wonder they wanted First Amendment Protection.
From today’s JD Journal:
S&P’s First Amendment Defense in Mortgage Backed Security Ratings Case Rejected by Federal Court
Thu, Sep 3, 2009
Home, Justice, Money
When the bubble burst on the housing market, it triggered a chain reaction in part because of mortgage backed securities issued as investment vehicles. These securities received ratings from agencies like Standard and Poor’s, who have been given the status of “nationally recognized statistical rating organization” or NRSRO by the SEC. In the past rating agencies have been immune from lawsuits based on ratings given to securities under First Amendment protections, absent a showing of malice. Today a federal district court in Manhattan ruled that the First Amendment protection that covers “matters of public concern” do not apply to ratings given out only to private clients and not released to the public at large. Considering the billions of dollars that were lost when these securities collapsed, it seems inevitable that this ruling will open the door to countless additional lawsuits.
A hearing addressing predatory lending dated 2003.
Just skip to the last paragraph under conculsions.
http://financialservices.house.gov/media/pdf/110503cc.pdf
Well aware of stated income fraud from Mortgage Broker Association and more links at bottom. One were the FBI addresses findings 2005.
http://www.federalreserve.gov/secrs/2006/august/20060801/op-1253/op-1253_3_1.pdf
Angered purchasing my home Aug. 06 with Option-Arm Stated loan when my finance broker had to be by then well informed of fraud.
Abby: You said on another post that PSA (pool serviced assets didn’t allow modifications unless defaulted. Could you link to where that is. Why was it in Nov. 08 there were commercials saying get a modification before your loan adjusts.
Editor’s Note: A well meaning but misinformed attorney only because he is not familiar with securitization. A common problem.
The previous post:
floridadefensteam, on September 2nd, 2009 at 6:44 am Said:
Interesting piece regarding using (adversary proceedings) within a bankruptcy court.
http://www.lakelaw.com/files/Residential-Mortgage-Issues.pdf
I am a licensed attorney in Arizona and have actually have TILA cases and practice bankruptcy.
Though it is true a number of attorneys do not understand these mortgage issues, neither does the author.
The first way to know this alleged attorney is lacking in knowledge is when he talks about how the UCC applies to mortgages. It does not apply to mortgages. Just read the purpose of the UCC and the opening sections.
After I read analysis about the UCC, I knew he was not much of an attorney.
He spent a lot of time but he is misguided. I would say a number of things on this website may be misguided. Good luck if you rely upon any of this for your future life.
Find someone local with a license who has actual experience.
I don’t know what is going on with the lack of posts on this website, whether pro se, lawyers or Neil , there has to be a “ramping up” of info in order to elevate the public conscioness of this material if ever we are to get a foothold on this nightmare. This is the best site I have found on the internet, no-one outside the loop has any idea of what is going on with regards to mortgage securitization fraud. Please, I know everyone is busy but please keep the posts flowing!
Interesting piece regarding using (adversary proceedings) within a bankruptcy court.
http://www.lakelaw.com/files/Residential-Mortgage-Issues.pdf
Linda
I am kind of LOST here with all the Posts.
What was your “Motion for Dismissal”
concerning? Was it the foreclosure action
itself? Was it a specific that has inured
from your defense?
I am trying to understand all this as I myself
may have a “Day of Reckoning” upon me very
soon.
Thank you
Linda–congrats on the dismissal!!
And–I just think the greedy Wall Street & Government types are creating very, very bad karma. Their actions are very dark. Very dark.
I am certainly glad that I am not working back there.
Corporations have no conscience.
Dying Truth, I have had your same concerns–I feel our test is with our consciousness related to our planet, the times,etc. –we can look at the world as you are looking at it now or as a most incredible time to be playing on the Earth plane when a new consciousness is birthing–and we are in growing pains–yes, I have heard about all the things you are referring to and more; however, there are whistleblowers coming forth to awaken humanity–projectcamelot.org is a wonderful site to keep up on these things–
I also feel that my fighting the foreclosures is resistance “across the dark forces window of time” (The Ringing Cedars Series about creating a new civilization). And in my limited Earth knowledge conceptual field of awareness, maybe it is helping us get to a place of a higher way of being. BTW I totally agree that the health care talks are a diversion tactic, so please take my pontificating as agreement, and only a suggestion on a way to handle what IS in our control–i.e. our consciousness in every moment.
Oh, I almost forgot–We won our motion for dismissal today in court.
You know it just amazes me the tolerance that United States Citizens have for all this Tyranny that they suffer. Does Everyone know that all those FEMA camps that conspiracy nuts complain about, that Glenn Beck has mentioned, you know the ones built all around the country….. were built for US, and I know some people have identified this insidious trap that was set for us but have been to afraid or not confident enough to shine the spotlight on it . Why would they build so many prisons, leave them empty, claim they were for the overwhelming surge of illegal aliens the country has been burdened with, but turn around and start granting foreigners instant citizenship in exchange for military service? Why does it seem like obama, congress & most of the judiciary flipping us the bird in the form of a cash register drawrer that provides them & thier “partners in crime” with unlimited resources at our expense, forcing us from peacful means to assemble to a violent mob that backlashes? BECAUSE THAT’S WHAT THEY WANT! where do they propose all the people that lost thier homes live? & would someone that has half a brain and some kind of connection with the mainstream media give the public an FYI wakeup call that obama is distracting America with this HealthCare reform hologram so the banks can continue to loot the treasury, evict America of its Citizens, and go unnoticed…. even if he does get it passed do you know that with the amount of foreclosed houses throughout the nation prevents proper amounts of allocated proceeds for healthcare to the states leaving a very large amount of money leftover making it just another bailout. They want us to snap so they’ll have plenty reason to put us in our new homes. People are so caught up in the commotion not knowing what to do next while our opponents move into checkmate position with ease. You know in the early years of our country’s existance Patrons were faced with very similar last resort extreme circumstances, but this time I assure you this time We or I at least will not be so forgiving as tose in the days of Shays’ Rebellion 1786-1787. we cannot let petty differences seperate us that is what they want, none of us are dems, repubs, socialists etc… (that’s how they label opinions with the intent to divide us & conquer) We Are Americans & United We Stand, Divided We Fall. Just look all of them supposedly they don’t get along for whatever reason but they have no problem giving eachother raises and unite to contribute to the combined effort to oppress us.
Can anyone please comment on this idea? From what I understand, a foreclosing entity has only to state that they have been assigned a mortgage in order to foreclose- but must have the assignment recorded by 30 days after the foreclosure. So by extension, if anyone is to go back to the court house 31 days after the foreclosure(s) are entered, and the assignment(s) have not been recorded, that means that the foreclosures are void? invalid? illegal? and the home(s) must be returned to their owners with damages and statutory fines on the foreclosing entities for fraud on the court? If anyone can elaborate on this, I sure would appreciate it.
Help!
I have a motion for dismissal with prejudice pending against TBW. Now I get a notice saying that the mortgage has been assigned, sold, or transferred to BAC. How can they do that if the legality of the transfer from my original mortgage to TBW is under question?
What happens to my pending motion against TBW?
Do I have to now file something against BAC?
I thought i was supposed to get a notice from TBW 15 days before the transaction. The transaction effective date is 09/01/2009 and I got the notice today.
Jeff,
Apologies if we’ve offended in some way. Just our take at levity. BTW, I don’t think we’re the bad guys. We’re offering a free and open exchange of case law, opinion and tactics, not looking for anything more than to educate or an education.
All-
I think fighting for our homes in the legal kingdom is worth it. I think things are decided on a case by case basis. I think a lot of cases by borrowers are in the legal pipelines.
You have to ask yourself–what am I mouse or man?
Do I want to roll over and play dead and let the thieves steal my home?
OR…do I want to try to keep it
Remember it will NOT be easy and the thieves will fight us very hard. They want us to ‘fear’ them.
If we all just give up now, thieves win
Just remember the story of David & Goliath!
What did Teddy Kennedy’s mother tell him – Persevere!!
That he did. What a hero.
We need to persevere too!!
Wars are not won overnight. This is a financial war.
To florida defense team:
Can you please be more arrogant and condescending as you have yet to offend EVERYONE here.
I am sure that your superior intellect will share the knowledge you have for a “nominal” fee
Help for homeowners = help you out of your home and money.
Is it possible that there is anyone who is knowledgeable and also altruistic?
Who are you ultimately trying to help? My guess is the florida defense team bank accounts
JD, before your discount homeowners trying
to save their home, please read on:
DEAR EDITOR,
Mortgage Lenders say there is no such thing as Foreclosure Defense.
Homeowners say ‘If you see it in Livinglies Blog it’s so.’
Please tell me the truth; is there a Foreclosure Defense?
VIRGINIA O’HANLON.
115 WEST NINETY-FIFTH STREET
VIRGINIA, your little friends are wrong. They have been affected by the skepticism of a skeptical age. They do not believe except [what] they see. They think that nothing can be which is not comprehensible by their little minds. All minds, Virginia, whether they be men’s or children’s, are little. In this great universe of ours man is a mere insect, an ant, in his intellect, as compared with the boundless world about him, as measured by the intelligence capable of grasping the whole of truth and knowledge.
Yes, VIRGINIA, there is Foreclosure Defense.
THIS PROVES IT!
Go here…http://www.urlending.com/quickdoc.php
Make sure Quickdoc. SISA ( Stated Income Stated Asset) is high lighted.
Go to downloads…click on Gen. Parametes
Dated Feb.17 2006
LOOK AT INCOME:
Income stated on application must be REASONABLE and in line with Borrowers employment, based on generally accepted, published, geographic income wage and salary surveys. OVERSTATED INCOME WILL NOT QUALIFY FOR THIS PROGRAM.
The key is geographic income:
Go to http://salary surveys.erieri.com/content/Accounting_and_Finance_Salary_Survey/Controller_Division_1357/Italy_National.htm
Scroll down … Click Here to review & Input Data
I couldn’t figure it all out so I just put the #1 in all the purples (lol). But it takes you to down load your free global salary calculator.
Stated Income may say no proof from borrower but it does not excuse the broker from verifing. There is no way the inflated income could get pass the broker or lender without cross checking in a global salary calculator. My broker put my salary right next to the highest income possible.
Oliver,
Looks as if he’s “asking questions”.
And the girls link seems to be nothing more than spam for another pay us for a while. I could be mistaken, it could be a wonderful shiny place, but I am so depressed who cares about signing up for something else.
As I sit here coming on the 1 year anniversary of my demise wondering how I am ever going to rebuild my life… I find it better to forewarn anybody from whats to come. I now find myself bouncing between friend’s and family’s couches just to survive. It’s a miserable existence. If I can save someone with a family from being in my position… I will.
BE PREPARED TO LOSE YOUR HOME! SAVE YOUR MONEY TO MOVE! BE PREPARED TO LOSE YOUR HOME! SAVE YOUR MONEY TO MOVE! BE PREPARED TO LOSE YOUR HOME! SAVE YOUR MONEY TO MOVE!
Best wishes,
JD
Hey JD, more good news!!!!!
http://townhall.com/blog/g/6cdb378b-90dc-4495-8f03-7f9f61227471
Mortgage Audits
oliver@ipa.net
john
Here you go JD…salvation…they have it all together….
THIS M O N D A Y CALL; CONFERENCE CALL
The GIRLS, Claudia and Sharon have done it again. They have won another mortgage foreclosure case in Florida.
Come listen to the blow by blow events during court. Hear about the whimpering attorney.
Come listen in.
The Phone Numbers and Pins are published at http://www.YourRemedyIsInTheLaw.com behind the Free Tele-Conference tab.
Enter with your User Name and Password. If you don’t have one, click on “New? REGISTER HERE” and create your unique User Name and Password.
Information is available only to registered members.
Click on Free Tele-Conference Calls and you will see the correct information.
Mortgage Audits
oliver@ipa.net
john
The sad fact is…
That no matter what you do, no matter what you claim in your court filings, securitization…. whatever, the judges just do not care enough nor do they give any legal respect or weight to pro se litigants. PERIOD!!!! An attorney may buy you time, but so far I have seen one case thrown out, and the homeowner walks away in victory, not too mentioned compensated (with damages) for their losses.
You are asked ONLY IF YOU CAN PAY OR NOT! Call it their (the judges) lack of knowledge, lack of sympathy, conflict of interest (because they are investors themselves), court case overload, whatever… YOU WILL NOT EVEN HAVE A CHANCE PRO SE!
Save your money and get ready to move and be a renter. Forget your dreams, because they want to keep you down.
I am sorry to sound like a big negative poster, quite frankly I am considered a very happy person by many, however having been drugged through our fine legal system and driven into destitution I am tired.
My heart goes out to all of you who will soon suffer as I did, the complete lack of self respect, sense of security, embarrassment and being out righted stripped of their lives.
Be strong and prepare to MOVE from your homes. There is no help. You will not get it at a seminar (at a seminar you will learn how they screwed you and only get you pissed even more), there is no pro se defense. You can try and only POSTPONE the inevitable by getting legal counsel, but even then they will ultimately act as a refi guy for the bank you owe, not to mention charge you $500+ a month or $150+ an hour etc.
If you have any money at all, LOOK FOR A PLACE TO RENT NOW!!!!!
Remember, there are way too many investors buying up these homes and the renters demand will only increase the day the sheriff comes to your door to put you, your family and all your belongings out on the street.
Spare yourself the embarrassment of telling people who are driving by and stopping to start rifling through your stuff, of getting the hell out of there. OR GET READY TO HAVE AN IMPROMPTU YARD SALE.
I would love to see a judge go through what I have gone through. Unfortunately they are too busy cashing the checks we give them from OUR TAXES!
Sorry for the rant.
Best wishes,
JD
Fight foreclosures . . .
So correct – Thanks
MSoliman
oops here is the link
http://www.oasismanagement.com/glossary/t.html?/glossary/t.html
got distracted:)
This is for everyone who is wondering “What is M Soliman writing about”
This link will give you basic information regarding financial terminology. It is and has been the complexity of the mortgage contracts and the terminology that victimized the homeowners during the boom years. Let’s face it, the Loan Officers and Underwriters did not understand the complexity of Option Arms and other exotic loan offerings they were selling, so how would the average homeowner know what they were signing?
The so called fiduciary duty wasn’t a concern, just turning volume of loans that paid the best YSP was the only concern!
This could very well relate to UDAP as well as RegZ and RegX. Keep in mind, the judges are learning as they go, so spoon size bites it seems will aid in their understanding of the securities and holder in due course issues. This is a challenge, but so was getting people to drive cars vs keeping their horses. No change is easy, unless it is effectively communicated!
Good Luck to all of us! Keep fighting the good fight!
Thank You John.
Trying to learn and do whatever I can. Simply enough, the certified QWR was sent 04/01. But recieved NOD 07/15. Then my lender acknowledges receiving QWR 08/01. That’s four months later and now letter requests 60 days to reply. You know they’re going to use that time post dating their reply leaving me no time left to do anything. Why is it my highly paid auditor didn’t file with the attorney generals office? Calling him tomarrow.
But moving on: The Legal Aid Droid at the court house told me “Produce the Note is a scam.” Is it?
LOOK AT THIS! This website is sharing sample letters on loan modification approvals. Look at pdf. file loan mod. #2 4. (c) Borrower has no rights to counter claim the Note? Why is it so imperative to include that?
http://www.accesslossmitigation.com/sample-approval-letters/ahmsi/
And this one:
http://www.sladelaw.com/loan-modification-approvals.html
“Countrywide” was a bit more cleaver. Big bold dark letters stating, ” Same As Is in Said Security Insturment” But scroll to the bottom by the signature #10. Missing or misplaced docs & hearby indemnifies borrower against any demand to the original note?
Is this even legal?
They just gave away that “Produce the Note” really does work. Can I Pro Se on the Note and hire a lawyer to go after the fraud? Or is that conflicting?
an:
If a mortgage is presold to a mortgage backed security then the pretend lender usually draws on a creditline setup for the MBS or table funds the loan and is re-reimbursed in a short time
Hey Joke
The lender is the Bank acting as a warehouse facility for a thritd party whch is a less than arms entity that is bankrupt insulate. The delivery is a subsequent event triggered by an open market transaction. That OMT is a trustee sale.
Stop the xeroxing of text books and tell us aboout the last 1 billion you delievered to Saxon, GMAC and Citigroup . . . ..Joke.
MSoliman
admin@borrowerhotline.com
the Wall Street Banks are some of the biggest holders of mortgage backed securities and collateralized debt obligations because they would usually keep a piece for themselves on each deal they
Hey Clueless
The holding company is typically the TRS and mgt holds the ownership through a Commercial Bank which is an FSB.depository.
msoliman
admin@borrowerhotline.com
Ian:
the Wall Street Banks are some of the biggest holders of mortgage backed securities and collateralized debt obligations because they would usually keep a piece for themselves on each deal they did.
First, through fractional banking, financial institutaions like Citibank only had one cent in reserve for every 1 dollar they lent out, the leverage has come back to haunt the banks because they bet heavily on mortgages using this type of leverage.
This compares to me, who get 50% leverage, meaning for every dollar I borrow I have to have 50. cents in cash.
Then if my portfolio falls below 35% in value it is immediately liquidated to cover the losses.
Banks had to buy back trillions in backroom deals to avoid and avalanche of class action lawsuits from China and the Middle East.
The Wall Street Banks were stuck with everything in the pipeline to be funded when the MBS market shut down right before summer last year.
By way of example, Citibank is holding 1 Trillion in mortgage related products they claim has lost 15% in value from par.
Citibank , like every other Wall Street Bank and most other National Banks are insolvent.
The only way this charade is aloud to continue is because of fraud.
The Federal Reserve pressured Congress to change the accounting rules so that banks no longer have to value their portfolio based on real market trades, banks can now value thier portfolia based on an interanl black box system that somehow allows a bank to value an MBS that is worth 10 cents on the market at 85 cents on the balance sheet.
The Federal Reserve has made it clear that laws and regulation no longer apply to the 5 chosen few.
1. Goldman Sach
2. Citibank
3. Bank of Amercia
4. Wells Fargo
5. JP Morgan
These instituaions are all now allowed to do anything they want, unchecked, because the Federal Reserve says we cannot live without them in America.
I SAY WE DO NOT NEED ANY OF THEM INCLUDING THE FEDERAL RESERVE!
PLEASE SUPPORT THIS BILL FROM ONE OF THE LAST FEW PATRIOTS IN CONGRESS
http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/
The Federal Reserve has essentially taken over the country with total control of our money supply.
They refuse to tell Congress what they are doing with our money, who they are giving it to and who they trading with overseas.
Congress had no authority to delegate the power to coin and print money to a private bank in 1913 WITHOUT A CONSTITUTIONAL AMENDMENT.
WE SHOULD TAKE IT BACK!
Abolish the Federal Reserve, force bankrupt banks into bankruptcy protection, thats the BK is for.
We already have a system of credit unions and local banks who stand ready to lend on reasonable terms and who did not participate in the absolute looting of the Nation’s Treasury.
With the 24 Trilliion that has been spend to recapitalize Wall Street so they can gamble some more we could have purchased every mortgage in America for pennies on the dollar.
This would have only cost 5 Trillion at the most!
No more foreclosures, no more evictions…etc etc.
But this would have been good for America, bad for the banking system.
Is it not obvious that our Government and Wall Street want us all to be debt slaves from the time we enter this world till the time we live?
What authority do we have to leave a national debt to our children fast approaching 100 Trillion dollars?
Anyways, I could go on but I think you get my point.
MJ- thanks for the response, here is another question, or questions: since 95% of mortgages 2001-2007 or thereabouts were securitized, and owned (or funded) by investors worldwide, how is it that “banks” are still reporting losses, if they are in fact acting as trustees for the trusts which hold the loans? Do the investors lose money on the value of the trusts’ debentures and the trustees further lose money on the defaulted loans,or what? The banks/mortgage cos. sold the mortgages into the MBS or other entities, correct? Or are these losses solely on investments made by banks in MBS pools? Thanks.
Ian:
If a mortgage is presold to a mortgage backed security then the pretend lender usually draws on a creditline setup for the MBS or table funds the loan and is re-reimbursed in a short time.
So there is no extra money to get, if the loan amount is reduced or increased by any amount then that is the amount of the draw or transfer at closing.
Waterfall has do with payment structure across all the different tranches over the life of an mbs and is used to value a particular trance or the MBS itself.
Can anyone please comment on this question? If most of the loans comprising a trust were “presold”-
For example, 2000 mortgages,each for $250,000.00 @ 8.25% for 30 yrs., but the mortgages changed due to “bait and switch” at closing, “sorry M/Mrs. Smith, your cashout was cut by 10,000 and your rate went up to 9.25%” who gets the extra money, and how much extra is it? Anyone have any data on that? Does this explain the “waterfall effect” among tranches? Thanks.
I need a great real estate attorney in Inland Empire or vacinity who get it. Litigation, Foreclosure attorney who take on these big banks about the houses we already paid for but we don’t know it.
Thank you
Steve,
This post is one of the best I have seen in a while. That was some awesome work. Let me know if you need any help.
Mortgage Audits
oliver@ipa.net
john
Hope this sheds some new light.
Letters sent out from my auditor listing violations.
1st letter sent: Office of the Comptroller of Currency Customer Assistance Group. No response. Website says they only deal with national banks not lenders.
2nd letter: FTC No response. Website says they only collect complaints.
3rd letter: US Dept. of Housing & Urban Development No respose. Waste of paper anyway.
4th letter: O.T.C. RESPONSE!
Dear Steve: Your lender is regulated by TX Office of Consumer Credit Comiss. We have foward complaint. We only handle federal & savings associations
5th letter: Office of Consumer Credit Commis. RESPONSE!
Dear Steve: We only handle loan companies and pawnshops within TX. Not banks in or out of state or out of state transactions. Go to your State Attorney General
Calif. Attorney Generals Website. This maybe some good news.
They ask you make sure you file your complaint before creating a lawsuit and say they will point you in the right direction but you still need a lawyer.
HIGHLY RECOMMEND THIS FOR EVERYONE
I crossed checked this at Flordias attorney general but couldn’t find anything.
http://www.corp.ca.gov/ENF/list/default.asp
Click on enforcement and then click on actions and litigation to look up your lender.
My lender was instructed by the Commisioner to Desist and Refrain in 2007 and told to move all outstanding loans to a qualified lender. Never happened and the license was revoked. I was told by someones email it was reinstated in 08 but I can’t verify that anywhere. So I did my own reasearch.
Dear lender,
YOU REALLY ARE A PRETENDER LENDER. You have 18 licenses through out the states. You have five posted in Calif. So I reasearched the five. One you call yourself a finance lender but it’s been revoked. Another you call yourself a mortgage banker but that’s been revoked too. Two of your licenses you call yourself mortgage banker (main & branch) but you placed those licenses under online escrow services or Escrow.com but the State of California stopped excepting those kinds of licenses. But the last one was tricky. I had to go by the address and it matches the same one on the back of my NOD. A mortgage insurance company is what you call it somewhere in Jacksonville Florida. Well I couldn’t find it so I went to your website and looked up the license number you have for Calif. Yes and under th CA. Dept. of Insurance it was there. In SOME OTHER LENDERS NAME that you merged with or took over. Why couldn’t you use your own name? Doesn’t matter BECAUSE THAT LICENSE WAS INACTIVE TOO!
How was I to get a loan modifcation while you are charging $500. to complete when YOU DON’T HAVE A BUSINESS LICENSE!
How do I know your applying my payments to the loan or even paying taxes when YOU DON’T HAVE A LICENSE! Are you working under the table?
How were you capable of filing and enforcing the NOD notice when YOU DON’T HAVE A LICENSE.
Your scattered around all 50 states hiding in different Suites calling yourself a finace lender, a mortgage banker or an insurance co. No wonder I can’t get federal agencies to investigate you. I don’t know who you are anymore. I thought I did. I always wondered why every love letter sent said this communication is from a debt collector on behalf of the lender.
What’s up with these revoked licenses. Is because you wont cooperate with the attorney general?
IT’S OVER! You can tell your new girlfriend in INDIA to quit calling here three times a day. No ones home!
TRUTH-Because I heard that Neil was going to have one in LA and was considering going or at least buying a handbook, but if an “Overqualified” individual such as yourself thinks it’s meaningless or hopeless maybe I should reconsider….
M.SOLIMAN- Folks, You make sense of this? You made your point. Move on.
MSoliman, on April 4th, 2009 at 6:44 pm Said:
“Here’s a chance for yours truly to be accused of a double standard.
I opine No, repeat, No “pro se” or “pro per” has a shot, what so ever in a matter concerning a foreclosure defense. Does lightning strike and do long shots win? That’s your problem.”
So what your trying to say is that going to the Layman’s/Pro Se Seminars & Purchasing the handbooks is a waste of time & money? Because I heard that Neil was going to have one in LA and was considering going or at least buying a handbook, but if an “Overqualified” individual such as yourself thinks it’s meaningless or hopeless maybe I should reconsider….
Remember, what you read here based on facts derived from review of 500 files and after 25 years of service to this industry. The data is assumed to be used for discovery that is not unreasonably cumulative or duplication, or is obtainable from some other source that is more convenient, less burdensome, or less expensive.
In time you will see the answers I have provided you are the truth. The education and IQ of a sad and disgruntled group are a question mark. But my belief is returning a retainer paid to me by an attorney who abandoned a clients case is in exchange for one perpetrator to be satisfied is extortion. She is like clockwork and pops up after every call (11:00 yesterday) I receive from an attorney covering her matter of fees in question.
Otherwise, it is not known to anyone what their motivation is for these attacks. I have spoken with an attorney general, scholarly experts and city attorneys on my views and gained their genuine interest in my perspective. Neil has solicited my opinion as have countless other attorneys. I have been dismissed in court for being “Over Qualified”
(You know who they are as they are always the first to jump back in and respond to my comments). This site is turning into an exclusive club for those who Sheppard simplistic and narrow views that fit their understanding. I opine their comprehension of the matter could never maintain an argument with a with an entry level Wall Street exec. I nor anyone else should seek to generate “leads” here. Cutting and pasting articles from five years ago is not going to work. I will go for now and to the few who spoke for everyone else – so be it! Our information is not for sale – it’s to assist.
WE ARE EXPERTS WHO WORK FOR ATTORNEYS UNDER THEIR ENGAGEMENT AGREEMENT. This site was never designed to lure in business.
God Bless
MSOLIMAN
msoliman@borrowerhotline.com
Jeff:
Do a Google search on it. That’s how I found it.
To Truth
on your last question
No -Vicki
and now another victim too
Kudos to MJ
I too have seen the drivel posted by Maher Soliman here in recent months glad to see I am not the only one that questions his brand of bologna. If his verbal communications skills are as poor as his written communications he would suck as an expert witness.
Seriously can anyone who frequents this forum and reads his posts contemplate how capable he could be a communicating to a judge or jury.
Just curious Maher did you ever send Vickie her money back?
“In a trust let’s assume a borrower is a debtor and the investor is a creditor – You want to allow the receiver or borrowers acting as creditors to recoup the unpaid loans or as much of it as possible. From a text book perspective, being in receivership is not an enviable situation for a trust. Maybe that is why these arguments when presented to a lender always kick me out of servicing and get counsel to reply. More often than not the receiver’s objective will center on liquidation of the company’s assets. You can effectively put the trust or SPE (company) out of business.”
I assume you are referring to a mortgage backed security trust?
If you are there is no way to accomplish way you are seeking to do.
Liquidation of a MBS will only occur upon a credit defualt event as defined by the prospectus.
Thats it.
There has never been a liquidation of a Trust for any other reason.
I personally have access to every mortgage backed security ever created anywhere in the world and I can assure you what you are trying to accomplish will never happen.
Besides if your theory is correct that would been every MBS in America is worthless, the Banks holding the MBS’s are worthless, the stock of the banks are worthless and we would have to recapitalize the banking system all over again with another 20 Trillion in play money.
Not going to happen!
MSOLIMAN:
Do you really expect me to believe you are responsible for that well thought out, articulated, and meaningful reply?
It is obviously not you.
As I said I have been reading your crap for 6 months now and the author of that post is clearly not you.
What a joke.
Anyways will somebody please show me how to plead a cause of action for breach of an OTS regulation?
Don,
I followed your link for the omnibus motion but was disappointed to see that it needed to be purchased. I am not looking to “steal” anyone’s work product but I am a bit curious as to what particulars are being alleged in the motion.
I am uncomfortable with the idea of spending $600 to see if the motion would be useful.
Can you point to any actual successful use of this motion? Otherwise it seems as if you are just trying to cull business for that site. I do not presume that you are but I am a bit concerned when money is requested to be given information.
MJ
It’s a time constraint and effort to submit written comments. First, the enforcement mechanisms in privacy legislation do not include private causes of action. A private cause of action where it is appropriate may also include the potential for frivolous class action lawsuits . . . is what you’re talking about? Nonetheless, private causes of action in privacy law have been used to attempt to recover significant monetary awards in situations where there is no injury to consumers.
In a trust let’s assume a borrower is a debtor and the investor is a creditor – You want to allow the receiver or borrowers acting as creditors to recoup the unpaid loans or as much of it as possible. From a text book perspective, being in receivership is not an enviable situation for a trust. Maybe that is why these arguments when presented to a lender always kick me out of servicing and get counsel to reply. More often than not the receiver’s objective will center on liquidation of the company’s assets. You can effectively put the trust or SPE (company) out of business.
You’re somewhat correct about enforcement of privacy law and it is significant. The issue is actually debated about privacy legislation. Therefore, it’s the FTC or Federal Trade Commission (or other federal agency) enforcement and state attorney general that may bring enforcement of a federally-enacted standard.
Look, read the indentures next time before you comment and attack me without any basis for the facts. A borrower is a debtor entitled to make good all the payments paid to the beneficiary who is the creditor in this case. The debtor if proven to have been defrauded and damaged could therein be entitling to damages whereby the Trust indenture specifies potentially liquidating assets at a discount. The Trust assets are your home.
See the AARP, et al. v. First Alliance Mortgage Company, et al. – Class Certification Brought by the FTC. I know of the case first hand and although I did not testify I did meet with Brian on a number of occasions.
msoliman
msoliman@borrowerhotline.com
Homeownership The American Dream
but in reality it is Americas
NIGHTMARE ON WALL STREET
where US Citizens are being insidiously tourtured by
FEDDY KONGRESS
MSoliman:
Why can you not answer my questions?
Can you at least cite to one (1) Federal Statute or State code that says a homeowner or anybody else for that matter has a private right of action if the OTS, FDIC, or the Federal Reserve fails in their oversight functions.
I seriousy question how you can argue that the failure of the above mentioned regulators allows a homeowner a defense to a foreclosure action.
Please tell me the legal doctrine you travel under to obtain such a ludicrous legal theory.
Or better yet how in the hell do you go about pleading this junk in a complaint?
Can you post just one count for us to read?
I agree that banks are not complying with regulations, but to cite a specific OTS regulations and then claim an individual has private right under a breach of a legal duty is a gap so large that no judge will be willing to fill, in my opinion.
I Congress wanted individuals to have a private right of action for the Banks regulatory violations, they would have said so.
No judge is going to insert new language in a regulation(s) that allows individuals to take on the role of a regulator.
I feel sorry for the individuals that buy into your line of crap.
Like I said, I have been reading your jibberish for 6 months now.
I also have a background in mortgages and still cannot follow you.
this is because you do not make any sense Sir, except to maybe yourself.
MJ :
Go to the library and read up on receivership. You ask traditional questions for a sinking ship that wont wait.
I work with top bankruptcy attorneys as their expert. I do know and what a fool beleives is not my problem. I am sitting on $8 million in loans that were never properly transferred.
BORROWERS SHOULD GO to claim there home FREE AND CLEAR! OR IS MJ SAYING I SHOULD NOW TAKE THERE HOMES FROM THEM
Title says their mine and a slew of pretender lenders are now resurfacing PREPARING A FIGHT. All after 12 years. Folks, stay away from ignorance and deceptive goals by egos like this. Theres a slew of attorneys seeking to discredit me through public domains. Don’t let any judge railroad you out of court where questions exist as to perfecting title and a transfer.
msoliman
admmin@borrowerhotline.com
MJ :
Go to the library and read up on receivership. You ask traditional questions for a sinking ship that wont wait. I work with top bankruptcy attorneys as their expert. I do know and what a fool beleives is not my problem. I am sitting on $8 million in loans that were never properly transferred. BORROWERS SHOULD GO to claim there home FREE AND CLEAR! OR IS MJ SAYING I SHOULD NOW TAKE THERE HOMES FROM THEM
Title says their mine and a slew of pretender lenders are now resurfacing PREPARING A FIGHT. All after 12 years. Folks, stay away from ignorance and deceptive goals by egos like this. Theres a slew of attorneys seeking to discredit me through public domains. Don’t let any judge railroad you out of court where questions exist as to perfecting title and a transfer.
msoliman
admmin@borrowerhotline.com
Garfield site will not let me through.
msoliman@borrowerhotline.com
MSoliman:
You Said (appears in quotes):
“If the bank has really originated the loan through a smoke screen of securtization – it is acting as an unlawful business combination, failing to deliver critical disclosures, compromising the tax payer and wrongly using its participation as an FDIC member bank. All at the expense of a borrower who pledged collateral as a debtor and obligor. Here is the opportunity for a call to recievership. And NO you would be left out – at first glance.”
How do you propose an individual homeowner force a bank into receivership?
Again you are asking the homeowner to take on the role of an OTS or FDIC regulator, GET REAL
“Now for a second time – You are looking for a borrwer to maintain RESPA rights – What is that worth? As a creditor you replace the investment and trust investors into a liquidation.”
I never said anything about RESPA, what are you talking about?
Again how is an individual homeowner going to place a trust into liquidation? Ridiculous.
“Folks, here is where a liquidation of trust assets does not exclude you but brings you into the mix forcing an investor into your role as a debtor. They would return to you the entire amount paid to date. (according to the indenture MJ in the event of a liquidation).”
“In a receivership you liquidate your assets at a TRUE OPEN MARKET VALUE OR DISCOUNT. Instead of the bank doing the same to you in a trustee sale you force the sale in a liquidation (the collateral) back to you in receivership.”
“Mortgage backed securities do not enter “Receivership” banks do, as an alternative to bankruptcy.”
Receivership is controlled by the FDIC and the consumer can make a claim just like everybody else.
“MJ : Your repsonse is traditional and based on a thrist for case law in a non traditional matter for which little if any case law exists.”
Somehow I think I know more about this crap than you do, but I do not post meaningless garbage and promote myself with doublespeak that would make Alan Greenspeen glee with envy.
I have been reading your garbage for months on end now and never said anything till you spammed me with your garbage…I look forward to a rigorous debate.
So far you have yet to answer the question I posed earlier.
1. Can you cite one case where this argument has been successful?
2. You arguments have no private right of action as far as I can tell.
3. Can you please provide a specific cite to Federal or State law?
These pages are crucial to develop. Lenders and financial institutions on a national level have a full time staff of attorneys communicating all the arguments presented. They communicate . Did’nt they form a meeting of the minds to borrow $700 billion? I can’t see state statues varying too much from each other being Florida and Calif. are non-judical. But we would learn that in an open forum. The argument keeps growing from securities laws to debt collection laws. Not asking Neil to write in explaining all the laws. Just forum titling a particular sections of law allowing everyone else to fill in the blanks. I read a good posting pertaining to credit reporting here from a lawyer but that was maybe 2 or 3 hundred comments ago. Once these forums are started, the Pro Se cuts down the research and the lawyers get their own research staff. Even the people offering to help with no legal back ground could spend their days going to every news article with a comment section asking anyone with a legal background to come over and help. An individual or small group is never going to succeed without a meeting of the minds. You’ll just wind up prolonging the arguments. But with the way things are going Congress will just pass another law restrticting open forums to discuss law. And once again, there’s ANOTHER question you need to ask a lawyer.
We have gained invaluable information from the attorneys here and some of the auditors as well. What they have to offer is a direction to your own state statutes. Generally, foreclosures are governed by your state statutes unless they are brought into a federal level by bankruptcy or if they have been appealed to that state’s supreme court. The important thing is to make law in your state. That is the key to victory.
I am grappling with the securities issues re how this gosh darn mortgages turned into sophisticated investments in the secondary market victimizing all homeowners by deregulation of securities and making homes a wall street commodity when most people do not understand that world and either have never made a wall street investment or have a 401K and still don’t understand the world of trading.
Soliman, if you can bust that one open, give me some case law or SEC rules to put in my pleadings, I will give you, well nothing, but I will use your advice.
Linda
For those who may be interested in my research and are in the courts with your case (home) I would suggest that this be one of the forms that you ask for in discovery.
http://www.sec.gov/about/forms/form3.pdf
I also would like to suggest that you get on the phone and speak with someone in the SEC about the Securitization of your NOTE and what happened to it once it was converted into a financial instrument.
Next, find out who the certificate holders are….
Mortgage Audits
oliver@ipa.net
john
as far as different sections on the website that everyone wants I’m sure Neil will get around to it when he has Time. Right now He is Very Busy with seminars, traveling & as some you remember all this craziness & frustration can take a toll so maybe stopping with the repeated “seperate blogs” requests would be appriciated as I’m sure when he does get a chance he’ll be able to read through the post entries and consider the requests and make the appropriate changes.
Wow…since I posted my 20k offer, this thread has really lit up….and it’s all good. Still, only one response which is sad sad sad.
I am posting again because, Neil, I think it is a GREAT idea from Steve. A blog on actual strategies, filings etc. Since I am in FL, (sorry to sound selfish) that is what is of real interest.
I still would like to know of some cases out there where victory has happened. Just something to point to.
For me, I go through the clerks website looking for cases where someone fought. Discovery, motions, etc, and wrtie down the parties. Since the only way to get the actual pleadings (so much for public record) is to go to court house, look only those cases I find and get copies from the clerk of the actual pleadings. It’s $1 per page but it’s all about getting educated, following local procedures etc.
The next thing I am doing is looking at the judges calendars and finding a good day to go to court and just sit and watch. I figure I may be up there someday and getting a feel for the action is nothing but good.
Hope this helps and I hope there is more useful useful info provided, directly, for those who are in need.
How about this one.
I solicited various co authored PPM’s and SOLID business plans offered by repspectable attorneys written to 25 or more banks. They all turned it down (as suspected) for the reasons I gave below. Risk and the prospects of bank investor exhobatent capital setaside in case of regulator derecognition were to much to offset the rewards.
PS. I spent over 20 years as a mortgage banking, secondary and wholesale specialist with focus on the capital markets. I retained and directed our attorneys and they executed accordingly. I would never call an attorney ask “What shoud I do ?”
They manuever through the courts and determined points and case law needed for an affirmative defense and to anticipate counter claims to our pleading.
A few of these unfortunate risk takers who succeeded selling their business models are still doing jail time.
MSoliman
admin@borrwerhotline.com
Msoliman@borrowerhotline.com
COMMENT: I prefer to read attorney posts. I am a paralegal working with sole practitioner attorneys and we all find the attorney posts invaluable.
I AGREE…BUT THEY NEVER HAVE ANYTHING TO OFFER?
Angst!
admin@borrowerhotline.com
Steve: I’m in process on exactly that. I’ll announce it when I am ready.
Dying Truth,
Yes, you are correct, Pro Se’s are litigants. I should know – I have been a Pro Se litigant for the past several years now. Only by “reading the law”, following the blogs of you good folks, networking with attorneys and paralegals who “get it”, and arguing before circuit court Judges have I been able to acquire the loathe of Pretend Lenders and ire of opposing counsel.
floridadefenseteam, is this April Charney? Did you see what happend to BadBizFinder So Fast? and just for clarification Pro Se’s are still Litigants
Dying Truth, thanks, at least someone is reading my posts. I have yet to see any discussion. I have a discussion going right now with Attorney George Babcock in Rhode Island as to MERS.
Mortgage Audits
oliver@ipa.net
john
Jeff now who’s whining? correction: The solution MUST come from a NEW congress in the form of a NEW Convention or Revolution
Oh, Bravo John!
Floridadefenseteam says- “Perhaps Neil can setup a seperate blog for theories, yet another for litigation strategies. Someone can post there specific situation (Law firm refuses to validate Debt) and bloggers could reply by posting case law or tactical moves.”
That’s exactly what I was getting at. Your comment is better well said. . I’ve been floating around the net for 10 months now full time trying to learn all I can. There are lawyers posting here. I recognize the names. We need a blog titled “The Discovery Process” A place we can find the subject, list the code, link the reference point (if available), and write a brief description to how it pertains. There is were you can enter that section to dicuss the code.
Then create a blog tilted “The Lawsuit” creating the longest list of arguments you’ve ever seen pertaining to mortgages at which a person can pick and choose what pertains to their situation. There is way too much going on here for one individual or group to resolve. Judges refer to the book “Statues at Large.” Since the media covered this website with “Produce the Note” making it #1. This website needs a reference section that has a book even larger.
To all who read and responded to my posts:
First and foremost I am thrilled that there are still people who are passionate about helping the American homeowner.
I have completed many many hours of “homework” and my conlcusion is that for every homeowner who may find themselves in the presence of a Judge who “gets it” there are THOUSANDS who will lose their homes to foreclosure.
The solution MUST come from congress in the form of legislation forcing the banks to fix the problems they created. This can only be accomplished by organized protests and complaints to our representatives.
No we are not Argentina thankfully, but when the apathy in our country becomes greater than hope then we are at an impass. We can fight for our rights or we can lay down and take it.
WE GET THE GOVERNMENT WE DESERVE…..when more attention is given to Michael Jackson and Glen Beck than to the real plight of the american homeowner then I must be the DUMB one who thinks meaningful change will come.
I live in a country where people call 911 because they didnt get their chicken nuggets.
I live in a country where 10 second sound bites drown out any meaningful debate over the issues.
I live in a country where the top 1% control 90% of the wealth.
I thought I lived in The United States of America but it turns out this is becoming The United States of Bank of America.
Someone get me a Zolift and a Beer so I can sit in my snuggie and watch Entertainment Tonite.
I prefer to read attorney posts. I am a paralegal working with sole practitioner attorneys and we all find the attorney posts invaluable.
Best,
Linda Kaye
Paralegal
advancedparalegalservice@gmail.com
To Foreclosuredefense Team
Well, there are mostly a lot of pro se litigants on here who do try to help each other.
Rarely, Rarely does an attorney come on this site to
provide guidance or answer questions.
We are on here doing our best to help each other!
As I mentioned prior, we also offer moral support, which is equally as important as the legal advice.
We’d all appreciate if more attorneys got on and helped point us in the right direction or answer some of our questions.
Thanks for this site.
Litigants: Please approach for a sidebar.
I thought the purpose of this blog was to educate (litigants) on foreclosure defense, case law, and well tested tactical decisions (i.e. Litigation). I see little of this. People are drowning and we’re describing the color of the water. If you can’t litigate your case to block summary judgment the well founded theories are moot. Use the courts to your advantage. Judges fear reversible error so build your case using affirmed case law. If trial court judges are ignorant dont whine -appeal the issue, its only a few hundred dollars and there companies that specialize in writing the briefs and prepare it for you. Perhaps Neil can setup a seperate blog for theories, yet another for litigation strategies. Someone can post there specific situation (Law firm refuses to validate Debt) and bloggers could reply by posting case law or tactical moves. We could then affirm or deny the choices. Quoting from the movie Gladiators “If we stay together, we survive.”
Jeff,
You said: There is no court in the land that will simply strip the lein of a mortgage and say congrats homeowner its yours free and clear!
Well, let’s take a look at that statement. I do not believe you have done your homework. Just like location is to real estate so is research is to the law….oh, you can quote me on that!
Ok, lets look at Lien, Mortgage and Modification:
Failure to obtain the consent of the mortgagor to subsequent securitization of the mortgage note renders the mortgage unenforceable. Failure to obtain the consent to the CONVERSION of the mortgage note into securities is a legally cognizeable defense to foreclosure.
Unilateral Modification: The holder modified the mortgage by imposing restrictions upon modification without the consent of the mortgagor
A mortgage is a contract creating a lien. Kremser v. Tonokaboni, 356 So.2d 1331 (Fla. 3 DCA 1978). The mortgage in case of a Florida mortgage contains a provision that the mortgage may only be modified by the consent of the parties. Mortgages are and have been written which limit, forbid or prohibit modification. A Florida mortgage permits modification but only with the consent of both parties. A unilateral modification by either party violates this provision. Securitization modifies the mortgage. The mortgage was modified without the consent of the mortgagor. Accordingly the resulting modified mortgage is unenforceable. The securitization of a mortgage under Florida law requires the consent of the mortgagor. Where the trustee under a mortgage securing notes was authorized to sell notes without further consent from mortgagor, and trustee assigned notes to third party, security followed notes without assignment of it in writing, and all covenants designed for security of notes inured to benefit of holders thereof. Collins v. W.C. Briggs, Inc., 98 Fla. 422, 123 So. 833 (1929).
Look up in the Federal Register, Friday January 7, 2005 starting at page 1507; What are asset-back securities (ABS).
ABS are SECURITIES that are backed by a discrete pool of self-liquidating financial assets. AB Securitization is a financing technique in which financial assets, in many cases themselves less liquid, are pooled and CONVERTED into instruments that may be offered and sold in the capital markets.
The key word here is CONVERTED. A homeowner’s NOTE is CONVERTED into instruments which are no longer a NOTE.
TELL me how do you enforce that new instrument in a court of equity to strip that home away from the homeowner.
Why is it that we have to educate the “JUDGE” . The JUDGE does not want a JURY to hear these words because then and only then the corruption will be exposed for all to see and believe me, that will happen very soon…
If the NOTE is unenforceable then what would a homeowner have but his home free and clear of any lien’s. Think of all the wrongful foreclosure cases you as an attorney would have mounting up. If the NOTE has been securitized there is no longer a Note to argue in court over.
Now where is the Truth in Truth-in-Lending?????
Mortgage Audits
oliver@ipa.net
john
OMG! My in box is filled with notices from this thread… all the trash being thrown around.
This is for Jeff the attorney…
Jeff, get a grip on reality. This is America not Argentina or some other country where people actually go into the streets and governments fall. This is “The Division of the Classes”. The government body (mostly made up of attorneys) don’t want those of us who keep paying taxes so they can purchase jets and caviar, to win. They prefer the down trodden to remain, down trodden.
You actually think speaking with the lenders on friendly terms are going to change things? Don’t forget their sweet talking mortgage brokers (who were directed by the banks) who sold us the loans promising it will be NO PROBLEM to REFI when the rates change. NO WORRIES!
My mortgage company REFUSED to speak with me because the note was in my estranged wife’s name who was MIA out of the country gone. My signature was right next to hers though on every document, not to mention on the DEED etc etc etc. I had new financing in place ready and waiting prior to the interest rate change… but the bank REFUSED to do business with me ON MY OWN HOME.
I continued to pay the mortgage after the rate change until it ate up ALL my savings. THEN THE BASTARDS FORECLOSED ASKING FOR PAYMENT IN FRONT OF THE JUDGE! They were ready to do business then!!!!!
I told the judge… I TRIED TO PAY THEM ALMOST A YEAR AGO!!!
You know what the judge said… SORRY ABOUT THAT.
So what is a someone to do? You think the average guy has 2 or 3 grand just lying around to run out and get a lawyer at the drop of a hat? (I doubt they would be in that foreclosing position then.) Not to mention after that $150 F@#$%ing dollars and hour? To do what? Act as a friggin loan modifier, after those bastards had already been paid once if not more when they sold my mortgage into the tranches? I wish I knew the names of the “investors” who bought my loan. At least then I could have asked them if they wanted to do business.
In general every single lawyers office was decked out with hot women, expensive furniture, not to mention the luxury cars in the parking lots…
Now I personally don’t give a flying crap where and how you spend the money you make. What I do care about is how they justify charging what for what they do.
AS YOU CONSIDER YOUR SELF ON THE OWNER’S SIDE OF THINGS… WHY DON’T YOU HEAD A CLASS ACTION SUIT NAMING EVERY SINGLE BANK, TRUSTEE, SEC CHAIRMAN, BURNAKI, GIEGER AND ANYBODY ELSE WHO ALLOWED THE MISMANAGEMENT OF OUR LOANS PAPER WORK?
PREFERABLY WITH THE GOAL OF RIGHTING THE WRONGS AND RETURNING FAMILIES TO THEIR HOMES.
WITH ANY LUCK THERE MAY BE ANOTHER MORATORIUM ON FORECLOSURE ACTIONS UNTIL THE OUTCOME.
IT WOULD SEEM TO ME THAT IF YOU PARTNERED UP WITH MSOLIMAN, YOU GUYS SHOULD BE ABLE TO HIT ONE OUT OF THE PARK.
Of course I don’t really expect you or any other attorney to take up such an offer because lets face it, you know as well as we do that they, the lawyers and judicial system, are all in bed with each other.
Best wishes,
JD
Steve, how do you think that judges become judges? they start out as attorney’s. what makes you think they’re gonna treat you any better especially when they know that you are gonna be trusting them to look out for your best interest… kind of like with brokers with similar end results… & trust me it is frustrating. if you want something done right you have to do it yourself, because I seriously dout any attorney is going to sacrafice any brownie points they have with judges & challange a judge & stand up for a homeowner, when all they are probably asked to do by opposing counsel judges is collect a retainer and make zero effort file a complaint let it get dismissed & then say that they tried.
Jeff, oh really… sounds like a great Idea
http://ssgoldstar.websitetoolbox.com/post?id=3511831
one I’ve already thought…. Are you signed up yet?
Attorneys:
Lien Theory vs. Title Theory vs. Deed of Trust Theory states:
Is the correct, complete, accurate recordation of assignments required to maintain a valid enforceable lien?
California Civil Code
http://www.leginfo.ca.gov/cgi-bin/calawquery?codesection=civ&codebody=&hits=20
Remember the “Tea Party” is set for September 12th
I think the answer to the problem you’re all telling each other maybe in this website.
You have Lawyers, Pro Se, and inquiring home owners. You have “Produce the Note”, Subprime, and Option Arm fraud cases. You have research from State laws, Federal laws, Contract Laws, Securitization, bankruptcy law,and contract law.
This website is or has become the #1 resource for help. I don’t know Neil Garfield but I’m thinking maybe if I pass this idea by you it may work.
Is it possible to break up the situations creating lists to violations and what catagory they fall under?
Not that there is a legal definition to Produce the Note, predatory lending, or mortgage fraud but those could be the title pages to the violations discovered. It would be a page that you can type in the section or code and place it to the category it falls under. Then give a BRIEF description of findings and how they’re applied and a link if available. If anyone wants to discuss the finding they can link to you or bring it to the comment page for open discussion.
EXAMPLE:
Heading: U.S. code Title 12 Chap. 49 Homeowners protection Sect. 4905 Disclosure requirements for lender paid mortgage insurance. Dated 2002
Quick definition in laymens term:
Lender took out their own policy before loan closing without informing the borrower which may have caused them to pay a higher interest rate.
Category: Possible fraud
Reasearch link: http://law.justia.com/us/codes/title12/12usc4905.html
msoliman typed- “Ignorance compounded by fear is never going to remedy your situation.” It’s true. All these comments are running around like chickens with their heads cut off.
A SOLID CASE is what we are all looking for. Pro Se can look at the list for assistance and lawyers may discover violations overlooked. It wont take away the necessity of obtaining a lawyer. You still need one I my opinion.
I was driving my 2001 F-150 in 2007. I smelled electrical burning and upon pulling over calling 911 my truck burned to the ground within 10 minutes. I discovered through Consumeraffairs.com I wasn’t the only one who had this happen to them. Lawyers wouldn’t take the case since they’re was no personal injury. So, in small claims I presented every piece of evidence I could find on the internet. Ford said that was hear say but the judge allowed it. He was shocked at the evidence. I even had the photos which I sent to Ford and the letter from Ford dening to come look at the vehicle but they still claimed they were never given the chance to come inspect it. The judge first said he needed time to think about. But then he all of a sudden he said, “Lack of evidence. Case dismissed.” I asked what more evidence can I bring? He walked out of the court room without a word. So this I believe is what the lawyers are trying to tell you what could happen.
I don’t know, I’ve never been in a federal court room just small claims. It’s just sounds like it’s time to take all the gathered violations and form a long, long, long list that lawyers and Pro Se can pick and choose from protaining to their own or clients situation. A full proof case that can’t be dismissed.
Just speaking for myself. (ProSe)
M. Soliman is a valuable resource for me when reading the daily RSS feed from this site.
You know why?
Because he brings another useful perspective to this group – that of a securitization insider.
He may be cryptic and opinionated. He certainly won’t spell his area of expertise out like Neil will.
Several of his comments (esp FAS 140-3) have pointed me in VERY useful directions to learn more about topics that Neil does not cover. When I dig through those godforsaken zillion page 424B5’s or Trust Agreements I can have just that little more advantage than the opposition counsel has.
If I could afford his services I would use them. But like most ProSe’rs here; our only resources are hundreds of hours of study and a passion to win (or at least take years longer to lose).
I thank Soliman for what he’s able to tell me – even vaguely – it helps.
Of course if I could get more from Neil that would be great ! But give the guy some room for a life outside this blog. Or at least hope that he is working on something good for us.
MR. Soliman
You deal in the abstract. I am currently assisting people try to save their home.
My question to you is simply put as follows:
What is the end game?
Most of the arguments you and others put forth here make it seem as if the entire mortgage should be thrown out and the homeowner will get to keep their home free and clear.
This notion is 100% absurd.
Recission of mortgage is a waste of time argument.
Perhaps if we were to try and work WITH the bank to assist and not threaten to sue or sue the bank to get its help we would see better results. I know in my practice of the law I used to threaten to sue and got nowhere. Open discourse with the bank actually can work. But the amount of time and effort will rival that of any personal injury or DUI trial.
There is no court in the land that will simply strip the lein of a mortgage and say congrats homeowner its yours free and clear! This will not happen. To try and argue who has the right to collect and who has the right to foreclose and who has the right to modify simply allows the bank to avoid the main goal………….Saving the American homeowner.
I truly beleive you are sincere in your efforts to help people. I truly beleive many things. But I KNOW that as soon as I sue the bank they stop talking to my client.
Food for thought. Since most will not be able to afford much else soon.
I have been referred to thisd website by someone who feels I might help. First ofr all, I am not an attorney, but I have 15 years as a professional collector, so I know the collection laws.
I am interested in receiving emails from anyone who is in the grips of American Home Mortgage Servicing Inc. (AHMSI). This is the company that caused the meltdown in ther housing and mortgage markets. They received bankruptcy protection from the most corrrupt state, and that is Delaware.
They have been given a second chance, and they are now more vicious then they were before. They have violated several Federal laws, just in my case alone.. THEY ARE CRIMINALS !!!!!!!
I just found out that they have been given a large stimulas from the Federal Government. That is insane!!!!!!
For the past three months I have been getting emails from AHMSI customers who have been put through hell, and I know that first hand.
I suffered acute kidney failure when they agressively tried to collect money I did not owe. Another gentleman lost his son which he feels was due to the stress caused by AHMSI.
AHMSI has an organized plan on how to stress people out so much, that some and maybe many just walk away from their homes.
Everyone is trying to do it on their own, but unless we all band together, we have no chance.
Until the early 1970s, this country was OF, BY AND FOR THE PEOPLE,, but lobbists, big business and special interests have taken over the government. I saw one posting that suggested a revolution, and I agree! The banks, Insurance companys, and auto manufacturers received billions, to prop them up ad reward them for incompetence.
The money that was doled out shoulld have went to the ordinary citizen. If they gave every household in America $15,000, people would have paid off their credit cards, brought their mortgages up to date, purchased new cars, and many other things. This would have caused factories to start restocking the shelves in America, and most Americans would be debt free. After all, it is our money, but it has been stolen from us.
I have been working on setting up a website for us. It will be “The United States For America”. I can start it but it would be too much for me to handle by myself, so I would need volunteers. The United States FOR America will have no political parties, just you and me fighting to regain control of America from the criminals who now make the rules, and who succumb to special interests.
AARP shows that in numbers you can be heard, and you can control your destiny.
Are you willing to take back Americfa? If so, email me if you want to be considered a member or a volunteer.
We can do this together, or we can just become mindless drones.
Getting back to Ahmsi, Please email me a short statement of what they have done to you.. I have others who have already done this, and once I get enough emails, I will be presenting them to The Department of Justice, Congress, and The White House.
I want to help as many people as possible so I am going to give you information you can use.
First, You should Google the (FDCPA). The Fair Debt Collection Practices Act. It is easy enough for a layman to understand, so learn your rights.
If your mortgage is a “servicing company”, collecting for a thied party, they must follow FDCPA!
If they are a company collecting their own debit, they are not bound by the FDCPA, but many states have laws similar to and just as effective as the FDCPA.
If Thery have scored your credit bureaus, and it is not justified, you need to file a dispute letter with all threer major credit bureaus, ie Experian, Equafax, and Transunion. The company you are disputing has 45 days to answerr, or it will come off your credit bureau7s. If they falsely verify the negative information, like they did to me, they are in violation of the Fair Credit Reporting Act, and this law allows for actual provable damages, and punitive damages as well.. Most likely, they did or said something that can be considered a “Breach of Contract.
Someone contacted me today telling me they insisted that she had to pay the amount they claimed was due before they would talk to her. Once she paid, they hung up on her. This is known as extortion and it is a federal crime.
if you do nothing they win. If you don’t fight back, you will lose. I hope you will email me as soon as you read this posting. Togtether we will win.
email me at ahmcriminal@cox.net
Jeff said -I can give you mortgage after mortgage where I have PROVEN the homeowner’s need and eligibility for a loan modification only to have the bank or servicer come back with a payment that is actually HIGHER than when the homeowner defaulted.
Who were the notices requested by? ____Who funded the loan at settlement (a bankrupt insulate entity) _____Who offered the modifcation? ____Who collected on the loan while in default?_____ Was the master servicer loan payment record for delinqunecy in sync with the sub servicing agents delinquency records (don’t think so)_____. When was the loan transfer date? When did a substitution of trustee take place______? Is any infomation pen scribbled in______?
People, just slow down and verify the information. If the dates and facts don’t make sense….and they almost always don’t…….then?
msoliman
admin@borrowerhiotline.com
Abby,
I in no way meant to imply that all information posted here is whining. I have been an avid reader, less avid poster, of this blog since last year. I would love to get involved in any sort of organized MEANINGFUL protest. Too many times our cries fall on deaf ears.
Why is it that I need to contact Fannie Mae through its attorneys to get them to direct a mortgage servicing company to follow the HAMP program?
Why are banks and servicers REFUSING to do what is in the best interest of anyone but themselves Mortgage servicers get paid based on how much they collect. How in the world can anyone reasonable expect them to truly try and help the homeowner?
I can give you mortgage after mortgage where I have PROVEN the homeowner’s need and eligibility for a loan modification only to have the bank or servicer come back with a payment that is actually HIGHER than when the homeowner defaulted.
I have clients who get calls from collection departments for banks telling the homeowner “we are selling your house this friday if you dont pay us” when I actually had an approved loan modification IN MY HANDS from the very same bank.
There is no accountability for the money our government GAVE AWAY.
If you think you have some way to really help by all means sign me up.
KUDOS TO US ALL
one more thing.
I think by the time we are done saving our homes, we might be able to work on Wall Street and be able to talk their jargon!!
Perhaps great jobs await us and we will know how to keep em all honest!
Jeff
We are all on here trying to do our best, offer support and ideas when we can.
I think we may get a little short at times because we are exhausted. Many of us have been fighting as pro se, the best we can.
We are from all walks of life and have now been thrown into learning not only ‘LAW’ but ‘Securitization’, ‘Trusts’ & ‘Banking’ & ‘bankruptcy law’ and some ‘contract law’ and figuring out what to do in a courtroom. Most have never ever even been in a courtroom. All in order to try to save our home.
This is an awful lot for ordinary folks.
It can be very confusing and then we have folks who are on here with their area of expert advice, which may or may not be over the heads of some of us.
We are not whining. We fluctuate from feeling ok–we are on the right tract with fighting the banks etc. to we are very angry! So, we might be angry with one another once in a while. So, we call somebody on their s__t.
We tried to organize a march on Washington DC once BO was in office, but we are pretty much tapped out money wise and too exhausted.
Now some are trying to figure out if we can put a coalition together to go to Washington DC. Would you like to help us with that?
If you had visited this site last winter, say December, and compare it to now….we have come a very long way in a positive manner.
I think most people on her would agree this site is helpful.
As an attorney who is trying to do his best to assist homeowners I am truly saddened that all of the anger and venom spewed forth in this blog is not directed at the ones who have caused this mess. I simply do not understand where all the public outrage si. Who the F**k cares about health insurance and whether or not our president is akin to Hilter. THE BANKS ARE STEALING OUR HOMES!!! THE CONGRESS HAS SOLD OUR FUTURES TO BANK OF AMERICA AND CITIBANK YET YOU ALL CRY ABOUT EACH OTHER?!?!?
You so called “intellectuals” sit and debate from the comfort of your own couch while the REAL world has the banks foreclosing more mortgages than they modify.
Unless people stand up to the government then they deserve the governement they get.
I am sick of your whining, Grow up and DO SOMETHING OR SHUT UP!
Unemployment is at record high. Tens of millions without insurance. Foreclosures are at record highs. Our children are growing up stupid. The homeless rates are skyrocketing across the nation.
“But when a long Train of Abuses and Usurpations, pursuing invariably the same Object, evinces a Design to reduce them under absolute Despotism, it is their Right, it is their Duty, to throw off such Government, and to provide new Guards for their future Security.”
AM I THE ONLY ONE LEFT WHO STILL FINDS MEANING IN THOSE WORDS????????????
REVOLUTION DOES NOT EQUAL VIOLENCE!!!!!!!
Government and Conscience need not be mutually exclusive.
Without open RATIONAL discourse nothing in this country will change.
GOD BLESS BANK OF AMERICA
Abby in CA,
. . . you know there’s something more behind all this I can feel it, the Identity of investors remains a mystery.
There is ….look at the notices (default, Substitution and sale). There you have the answer. Look and look very close.
THE SALE OF THE LOAN TO THE TRUST (TRANSFOR) IS A SUBSEQUENT EVENT.
THAT EVENT IS TRIGGERED BY A TRUSTEE SALE WITHIN 60 DAYS OF THE SALE DATE. ITS NICE TO KNOW YOUR CHANCES FOR A MODIFCATION AND WORK OUT ARE LIMITED TO A DEFAULT AND A MANDATORY LIQUIDATION OF THE HOME.
Meaningful workout? NO CHANCE WITHOUT THE TRUST VAPORIZING.
DyingTruth – get me your file. Let me review the deal (NO CHARGE) Let the angst go brother and get me the file. It will prove who is the fraud.
If I am wrong your bank is right. Your bank and I both cannot be wrong …think about it. It’s his call folks!
MSoliman@borrowerhotline.com
Dying Truth-I’m sure you are correct.
In my case, the investors had to invest in increments of 100K a pop!
So it took almost 8 investors at 100K each to purchase the MBS (my home) or maybe 1 investor who put in 800K.
Sold around the world probably, who knows.
Could also be 401Ks etc.
I am not allowed to spar with our favorite son on here.
If you want to email me carra2009@gmail.com.
Cuomo Recused Himself Over Money Manager in Pension Fund Probe
BING! starting to unfold
http://www.bloomberg.com/apps/news?pid=20601103&sid=alOHQSn5zgOk
Goldman & Sachs is a Financial Investment “Firm”, the Magistrate judge that conducted discovery on my case Hon. Marc L. Goldman, My attorney Stephen Dial (the one who filed a motion to withdraw, refused to represent my arguments, but then filed a motion of non-opposition to a motion to dismiss when my dad was unable to make it to te hearings because of work (on my fathers behalf)) He has a son that works on wall street and what’s worst come to find out dial used to only represent lenders & brokers, too much of a scaley pattern forming up what appears to be snake skin…
Abby in CA,
you know there’s something more behind all this I can feel it, the Identity of investors remains a mystery, judges from the district are(so far what i’ve seen), they could be share holders to the trusts probably. you know 1 thing I did notice in my case that was never mentioned but docked was a Magistrate Judge Hon. Arthur Nakazato recused himself when my case got assigned to him but I was never notified, I had to read it off of PACER, and I thought judges are only supposed to recuse themselves when they have an interest in someone or something involved with the case & it looked like from the docket entries that they threw my case around like they did’t want to get caught with it. LET ME ASK EVERYONE HERE HOW MANY PEOPLE HERE GOT SCREWED BY AN ATTORNEY THAT YOU HIRED TO REPRESENT YOU & MAYBE GETTING THE FEELING THAT THEY HAVE SOMETHING RIDING ON THE HOUSE OR CASE EVEN AFTER THE ATTORNEY CLIENT RELATIONSHIP IS OVER?
Swallowman you have no credibility. if your credit were national debt you would have a deficit that would put obama to shame…
what’s even more disturbing is he’s kickin’ the same thoughts I had earlier that he discredited about securities. Is this some kind of a sick joke, you guys?
MJ
If a bank does not comply with mark to market accounting then that does not give a homeowner a defense in a foreclosure case. If a bank has fallen below appropriate capital ratios then that does not give a homeowner a defense in a foreclosure case. (Wow- text book recital).
If the bank has really originated the loan through a smoke screen of securtization – it is acting as an unlawful business combination, failing to deliver critical disclosures, compromising the tax payer and wrongly using its participation as an FDIC member bank. All at the expense of a borrower who pledged collateral as a debtor and obligor. Here is the opportunity for a call to recievership. And NO you would be left out – at first glance
Now for a second time – You are looking for a borrwer to maintain RESPA rights – What is that worth? As a creditor you replace the investment and trust investors into a liquidation.
Folks, here is where a liquidation of trust assets does not exclude you but brings you into the mix forcing an investor into your role as a debtor. They would return to you the entire amount paid to date. (according to the indenture MJ in the event of a liquidation).
In a receivership you liquidate your assets at a TRUE OPEN MARKET VALUE OR DISCOUNT. Instead of the bank doing the same to you in a trustee sale you force the sale in a liquidation (the collateral) back to you in receivership.
MJ : Your repsonse is traditional and based on a thrist for case law in a non traditional matter for which little if any case law exists.
The borrower is lured into a mortgage oringation that carried at cost not disclosed. The bank has defeated their right to a meaningful work out or resolution.
The only instance of bank redemption and restoring itselg for the covert effort is a transfer of the assset based upon a trigger under FAS 140-3. Covert and unlawfull serivicng acts and gimmicks are documented and cause for a violation of 1122Ab and is documented by auditor attestation.
That trigger for clearing each transfer to Trust is a foreclosure and trustees sale.
Ignorance compounded by fear is never going to remedy your situation.
Folks – do as you will and good luck . But refrain from personal attacks and offensive comments intended to unduely defame and unlawfully interfere and discredit.
msoliman
admin@borrowerhotline.com
After receiving spam mail this afternoon regarding the services of MSOLIMAN, I asked the following questions which he was so kind to answer.
MJ – I don’t want to waste the reader’s time with this garbage. You are on an attached email list and I was solicited for my views and related information.
Please stand corrected – it was not Spam! Your attempts to divert our viewers and discredit me are undue and dangerous regarding a sensitve subject.
Your creating liability for yourself here.
After recieving spam mail this afternoon regarding the services of MSOLIMAN, I asked the following questions which he was so kind to answer.
1. Can you cite one case where this argument has been successful?
Can you cite a RESPA or Lost Note defense argument that has been successful? (BOYCO Ohio does not count). We upon first response by a lender shoot straight up to their legal counsel. No nonsense with loss mit and servicing supervisors. We have many cases that were dismissed as a defendant and I can forward. We have spoken to Washington’s FDIC chief of compliance, an attorney general and the OTS. The FDIC could not explain their malfeasance in guarding against this mess to begin with.
2. You arguments have no private right of action as far as I can tell.
A borrower in a trust is addressed in the indenture whereby it states the rights of a consumer with no reference of those right being brought by anyone other. This maybe an SEC or US attorney general matter in the end and that end will be soon.
3. Can you please provide a specific cite to Federal or State law?
My God, Read the published memorandums by the SEC and FASB and look at ENRON, TYCO and Adelphia. Its securities law where you need to focus. Look at ther indictment being handed out and read them damn it.
Mr. Soliman failed to answer any of the three questions on point. Instead he used mis-direction and even answered question #1 with a question. Mr. Soliman can not even point to one specific Federal or State law that a consumer can use, I suspect because they do not exist.
All the issues he points out do not give a private right of action to a consumer…..PERIOD
If a bank has fallen below appropriate capital ratios then that does not give a homeowner a defense in a foreclosure case.
If a bank does not comply with mark to market accounting then that does not give a homeowner a defense in a foreclosure case.
Suffice it to say I am now convinced this person is a snake oil salesman.
Appologie to all the respectable homeowners at this forum I’m just in the same shoes as most of you desperatley looking for any lifeline of hope I even pleaded in district court an understated brokers fee, coupled with two of the 3 day ROR bearing no rescission expiration dates nor signitures in the acknowledgement of receipt but with ones in the exercise of sent along with a tender offering of the property I was born & raised in or a reserved right to obtain financing if not acceptable to meet my obligations in the rescission process, got no response, just a motion to dismiss for failure to state a claim upon which releif could be granted which the court granted with prejudice and without leave to amend… getting stepped on & screwed by even the attorney I hired to represent me but i’m sure most of you already know the unjust tyrrany we are all forced to suffer
& what do you call your statements PUNK your just a court whore that has no place in the CM/ECF established courts now. You know it’s scum like you who think they are somehow better than everybody else because you witnessed, and learned to repeat the language of the Swineheely PIG Latin gibberish complex securities derivitves that even greenspan admits is the primary core problem of the current financial crisis. Your nothing more than a Parrot like Jafar’s Parrot in Aladdin Played by Gilbert Gottfried. I don’t know why I even keep trying drop whatever negativity & just be civil when you blatantly disrespect me like that when I’m just trying to help and look for some at the same time but I shouldn’t expect a mock snob parrot like you to have any integrity or genuine concern for homeowners, hey your just tryin to make a buck off of honest peoples unfortunate disposition, it’s just really sad when all this is over I wonder while your sitting in your gold little birdcage probably in some forclosed house, how many morally built decent human beings will have killed themselves or isolated themselves from everything forever never to recover because they allowed themselves to to put trust hope faith in & eventually get duped, screwed over by a little crap talking rainbow colored PARROT!
Msoliman:
I see little difference from the post you commented on below and you trying to argue banks not complying with FAS accounting rules and capital ratios gives a consumer a defense to foreclosure.
Will you please point out the relevant code that says if a Bank, Trust, Fund, etc etc. violates any of the rules below gives a right of action to a consumer in a foreclosure defense.
FAS 140, FAP
Ongoing test for impairment
FAS 144
Goodwill
FAS 121
FAS 142
FAS 140 and the QSPE
Definitions “True Sale”
FTB 01-1
This is the list you sent me today in the spam message I received from you.
DyingTruth, on August 21st, 2009 at 12:24 pm Said:
ATTENTION GARFIELD & FRIENDS
despite the constant rejections of class acton rescission cases if you’ll notice they all argue that rescission is an individual remedy,THAT’S RIGHT SECURITIZATION if they allowed 1 rescission that would breach the trust*. If all this was Disguised securities transactions then securities laws would apply right making the borrowers depositors or something…
Gibberish and dangerous to the public . This is what is causing the effort to be sidetracked by useless non legal and non binding advice and confused comentary.
Can anyone make sense of these comments? Garbage.
MSoliman
admin@borrowerhotline.com
I just dialed the toll free number a second ago. It worked fine. Leave message on toll free # They’re pretty quick to respond. But again, it was just a recomendation from someone on this sight. I haven’t signed up with them yet. I’m still waitng one more week. Did a search this morning with my lenders name and lawsuit after it and found a lot of cases filed for this year. Still hoping someone can one day say yes the lawsuit was worth it.
(310) 765-7388 Tel
(877) 732-7653 Toll Free
(213) 221-7754 Fax
nls@borrowerhotline.com
for the soldiers who could use a little humor break from exausting their efforts in the cause(& a little insight)
http://docs.google.com/present/view?skipauth=true&id=ddp4zq7n_0cdjsr4fn
Abby in CA,
if your lender is in bankruptcy I do believe if you file for bankruptcy & claim you were forced into it by thiers it discharges your obligations or at least that’s what I gather from this basic contract law book I have but run it by an attorney first if you do consider it
jt
“Why is it we can only find articles of someone only haulting the foreclosure?
Is it the “Gag Order” restricting any comments being made after settlement?
Is it a law or oath stating your not allowed to reveal any satistics?”
i also was wondering the very samething… ie settlement in borrowers favor but conditioned by silence !?
I hear what JT is saying about case law I do know of a couple but they are like 20 years old. Isn’t there a specific area of law or someehere in the statutes that says the court whould allow certain things if the public would benefit from it ? Well someone needs to tell the Judges the public needs some beneficial case law to back them up because without it we’re getting slaughtered.
Steve,
I think NLS is out of business & not around anymore. There number is out of service. Let me know if you have any luck with U.S. Loan Auditors.
Fred
auditor sent Q.W.R. April 1st. Got N.O.D. July 15th Lender acknowledges Q.W.R. Aug. 1st. I’m a bit in line with JT. I have gotten calls back from lawyers now . They are moving forward and warning the expense. My auditor said he would find me a lawyer for court costs. But the lawyer he put me on the phone with two weeks ago I haven’t heard from. That’s okay, it took a month for 1 out of 5 lawyers on this sight to call me back. I’m a little stressed assuming Oct. 15 they’ll be throwing me out because I don’t know what is going to happen next. My auditor said plan on losing the home. That’s fine and dandy with me but upon entering the smell of urine wont be from the dog. I don’t own one. Kidding. Not. Trying to work with savings at the moment it’s a choice between U.S. Loan Auditors or N.L.S. Both need upfront fees. U.S. loan sounds good because it is with the BBB, they do send proof of their lawyers credentials, they are lawyers not servicers for lawyers, and they do go straight to Federal court. The draw back is the monthly cost. How many years will I be living in a tent waiting for the case to settle. N.L.S. sounds like they now their stuff but the draw back is they’re servicers working with lawyers, I don’t know about the BBB, the attorney general wants $100,000 bond posted. I found one comment under Rip-off report about them. But I’ve also heard and read a lot of good things about them. Yes we’re victums. Yes we are aware of the cost. Yes we’re aware of the numerous violations. The questions to lawyers are:
Why is it we can only find articles of someone only haulting the foreclosure?
Is it the “Gag Order” restricting any comments being made after settlement?
Is it a law or oath stating your not allowed to reveal any satistics?
Is it ending up with the judges saying,” I don’ t see how the lender is responsible when the broker originated the crime.You should come back and sue the broker. Case dismissed.”
Are we still dealing with judges or (the whole judicial system) afraid to set presedence siding with one homeowner?
You the lawyers are explaining the seriousness of these violations. But the individual reasearch reads that zero out of 10,000,000 have settle matters in the home owners favor.
It is the last of our savings. We will live in tents investing every penny to reach a decision or settlement. Just feel the odds are zero out of 10,000,000 for home owners.
JT–I live in your area in Florida–I have a couple of resources for you–941 377-9930
Oh JT…
What did I tell you?
They would rather get that $20,000 grand at $500.00 a month intervals to PRETEND to save your home. (SIDE NOTE: I am sure there are still 1 or 2 actual “Dog Day Afternoon” lawyers out there. But I am sure they have retired.)
I would recommend (if it’s not to late):
1: A PRO SE “MOTION TO DISMISS” based on anything and everything you have already including audits etc. NOTE: This can only be done if you have not filed and answer to the summons. You could try to file an “Amended Answer to the Complaint” and include the “MOTION TO DISMISS” (Sometimes it may be allowed in a pro se case depends if the judge got laid the night before.)
1a: Be sure to include a “MOTION FOR DISCOVERY” and request EVERY SINGLE DOCUMENT INVOLVED IN THE LOANS ADVENTURES AS WELL AS A REQUEST TO HAVE EVERY SINGLE NAME YOU FIND ON THE DOCUMENTS CALLED AS A WITNESSES AS THEY ARE SUPPOSED TO HAVE FIRST HAND KNOWLEDGE OF THE LOANS HISTORY.
In theory… the judge is “supposed ” to honor the requests.
File a TEMPORARY RESTRAINING ORDER (TRO) against the PETITIONERS.
Then prepare for the judge to give you the finger.
FILE A MOTION TO SET ASIDE or VACATE SUMMARY JUDGEMENT
GET READY FOR YOUR APPEAL!! YOU ONLY HAVE 20 (TWENTY) DAYS TO FILE YOUR APPEAL!!!
THEN PACK YOU BAGS BECAUSE YOUR GONNA NEED THAT $20K TO MOVE.
Best wishes and good luck.
JD
p.s.
Below is only a thought so an actual esquire’s opinion should be sought.
If opposing counsel HAS NOT filed the “MOTION FOR SUMMARY JUDGMENT” yet, you could try and beat them to the punch and file your own “MOTION FOR SUMMARY JUDGMENT” with any and all evidence you have as well as the above mentioned “MOD” However you are asking the judge to rule based on “SUMMARY” and NOT utilizing all the witnesses requested via the MOD. As I said it is a thought and I am onlt trying to help.
To say the least, I am somewhat disappointed. Last week, I offered any lawyer here to take a FL case and if they would be successful, I would pay $20,000. So far, only one response. This tells me one of two things.
1. $20,000 isn’t enough to get responses from lawyers here or;
2. The chances of winning are slim.
Look for my previous post. Like I said, there are a lot of good ideas and positions which I agree with. The reality is, most of that cases I can find from posters here is they eventually loose their home (searching the cleks sites in FL)….for what ever reasons. We get “paid” for results.
Let’s face it, (and those in the legal field should listen up) I would think that winning more cases you win would just make the next case that much easier to win. If money talks and 20k isn’t enough to even get inquiries, what does that say? Heck, I am just looking for a coach to put together pleadings that make sense…not F. Lee Baily.
At any rate, regardless of the good ideas here. Unless they are articulated correctly in a manner the legal system understands…you loose. The fact that only one entity (floridadefensegroup) responded speaks volumes. Sorry Neil, this stuff won’t work unless there are cases won….and in my case, 20k is not even of interest to those “lawyers-who-get-it.” If I am wrong, just show me the cases where these predatory loans worked out to nullification of the note/mortage or a substantial modification was the result. So far, I really haven’t see one nor a reliable strategy to win in the system ’nuff said.
Good luck to you all.
Well I’m probably gonna need Neil or Swallowman to co-sign me on this while yes you do have tila claims but you see all of our loans are like little Jenga pieces (or house of cards if you will), when they were all securitized they were all compacted together like when you first start the game Jenga, modifying a loan which appears to be part of the game is like pulling out one of the pieces & putting it on top, but allowing rescission of loans is like pulling one out and leaving it out which either way would lead to the whole Jenga(Trust) collapsing translated into legal terms = a lot of lawsuits & a big mess that the court would have to take part in fixing. Also it seems to me that individual cases might only possibly prevail once all the loans are de-securitized ie reverse the trust or something & my guess is you would need a majority of the depositors(borrowers) votes on renicking the whole deal. You see you got to imagine for a second, that wall street banks knew that we’d all go straight for the Truth In Lending Act they even threw it out there with their phony diversions leading us to remedies that wern’t applicable because it was a securities transaction that they got us into. look at the relavent factors MERS, the 3 tiers of trustees, “Certificates”(not Notes) etc… meanwhile all this was probably just a trick to out the SOL expiring any recouse we might have. Why do you think that a lot of foreclosures that came from the same pool happen all on the same day? that is them assuming the trust. Neil, Maher?
Alina
thanks. I did lodge my 3 yr rescission, prior to the 3 year date with every lender, bank, title company everybody involved. They all got the notice.
Abby,
Yes, you do have TILA claims against any assignee of your loan. I wouldn’t listen to opposing counsel.
However, there is a strict 3 year SOL on exercising your extended right of rescission. See Beach v. Ocwen.
Also, you can raise TILA affirmatively in a foreclosure. I do not know BK rules that well, so I cannot comment.
Dying Truth
I’ve been told by opposing counsel in the New Century Mortgage Chpt 11 BKR case that becasue they ‘the pretender lender’ subsequently sold my loan to Chase, along with 4200+ others, within 6 days of my loan closing (there are indications they had the paperwork between themselves and Chase already drawn up)–that they are absolved of any TILA (loan was sold)–that I cannot pursue them for TILA violations (can’t anyways unless I do an adversary action in their BKR 11).
I assume this is correct……and I assume I can lodge TILA against Chase (doesn’t TILA law carry to the purchaser of note?)
I also have the listing of the 4200+ loan numbers in the securitization trust. The investors could only buy into this pool if they bought in increments of 100K.
ATTENTION GARFIELD & FRIENDS
despite the constant rejections of class acton rescission cases if you’ll notice they all argue that rescission is an individual remedy, but if you’ll notice homeowners aren’t having much luck going at it alone seeking rescission, but how could this be with all the tila violations, you know people were getting granted rescission for a lot less before all this se-.. THAT’S RIGHT SECURITIZATION if they allowed 1 rescission that would breach the trust*. if you’ll notice in the attempts at tila class action status it’s almost as they are leaving hints to a hidden door for class action status(maybe securities)– Then there is the issue of the “Confidential” Note Holder, well duh there not going to tell you the identity of one of the other key components (that supposedly want out too) to undo the deal(s) that they made. or how about every borrower from any 1 specific trust all seeking rescission for being thrown on a wagon full of crap that they did not sign on for that might constitute as an individual action. If all this was Disguised securities transactions then securities laws would apply right making the borrowers depositors or something….. GARFIELD your the only one that can do it.. lead a class-wide rescission of securities transactions based upon everything you know. Come on you know full well that they always leave some obvious loop-hole to get out of….
John–thanks. I hear what you are saying. Sound correct in both my mind and your mind, however, I think these banks-foreclosers will argue and argue against us.
Not sure if judges will get it.
I am not questioning legal expertise of Mr. Kessler at all.
Do appreciate your posting.
Thx
Abby in CA.
My comment is first this.
Richard Kessler is a graduate of Yale Law School and a Washington, D.C. attorney. He has made a career of innovative and first-time legal strategies.
I have not done all the research on Richard and I hope to speak with him over the phone.
I can only assume at this time but if the Note was Securitized which you are tell me it was, then according to the rules of Securitization, the Note was converted into a new financial instrument, perhaps a bond which is an asset back security. So, what happened to the NOTE? There is no longer a NOTE and there is no longer an obligation. The Note is the “promise to pay”.
Now, is there anything out there to foreclose upon? You cannot have a NOTE and a New Financial Instrument existing at the same time.
If I am wrong in my thought process here someone please show me the light….
Mortgage Audits
oliver@ipa.net
john
John-yes, but we have the Trustee for the Securitization (in my case another Bank) who is representing the investors in the pool which Chase bought from New Century.
Thus, this Trustee for the Securitiztion (U.S. Bank, N.A. in my case) who all of a sudden starts to appear on some of the recorded docs during the foreclosure.
Then they bought the home at the auction from themselves. So, they are not a bona fied purchaser.
If one examines something called a Mortgage Sale and Servicing Agreement between New Century and Chase and then the Pooling and Servicing Agreement between two Chase entities (so they could set up the trust and sell the certificates at 100K a pop to investors), one will see that they grant rights to
the trustee of the securitization in these docs (all behind the scenes and the borrower is not privy).
These trustees of the securities, according to PSA, have power to foreclose and supposedly hold the original note(s).
What say you?
MSoliman;
Richard F. Kessler: Documentary Clearing House LLC. says….
Any mortgage converted into a security is unenforceable because the plaintiff lacks standing and the complaint fails to state a cause of action for which relief can be granted. The mortgage is unenforceable because the plaintiff lacks standing to foreclose on behalf of the certificate holders, the mortgage has been converted into an instrument not enforceable by foreclosure and the debtor/mortgagor did not consent to conversion of the mortgage.
This appears to be what Neil has stated about the securitization of the Note and Mortgage and perhaps why they cannot come up with the Note and Mortgage. And it follows my research up with what I found out in the National Register by way of the Texas Office of the Attorney General.
If this is in fact the case we have been duped for a number of years now…
Mortgage Audits
oliver@ipa.net
john
linda
i think i posted it and yes its gone… but the previous post below is from the same site… max gardner..
neil may be just house cleaning.. no foul!
I want to open up discussion on the procedures and subject of default and notices – California specific. There you must consider the specific foreclosure documenst that often fail to address the following:
1) The Document is defect
2) They appear defect for a reason
3) The information supports other arguments.
At trial not too long ago I was called as a witness and I will assure you the matter went from a lender slam dunk into a weeklong Judges deliberation. Our focus is on the failure to properly serve notice to homeowners by all parties of interest (e.g. NOD, NOS, Substitutions, and Assignments).
A Pretender lender is humorous as a moniker or label but it is a powerful statement as to who is the holder in due course. A good attorney would chuckle here or laugh at my argument as this is common knowledge. If they cite in theire causes of action the Holder in due course language – the argument will be dismissed as another fruitless attempt to get somthing for nothing and for a confused and suseptable borrower in a foreclosure.
A holder in due course is a paramount issue but not as it is being argued in court .
ATTORNEYS – THIS IS AN ISSUE FOR A REASON – -IT IS NOT DUE TO NEGLIGENCE. YOUR CLIENT DESERV ES THE CHANCE TO ARGUE THE BEST ARGUMENTS YOU CAN.
GOT IT!
MSoliman
admin@borrowerhotline.com
But my point is this (I do not stutter)
1) Are these notices in violation of the States Power of Sale under CA Civil Code of Procedures and 2) do they provide sufficient cause for enforcing your rights and or bringing an action?
A defect in the documents are grounds to argue a defect in title subject to the claims. But the defect in the documents have a deeper meaning and THIS IS WHERE WE COME IN.
We are Experts and can show standing for the arguments we raise. Whats an attorney got to do with this. A Lot! We do not practice law and cannot tell you if your case is better suited for a claim against thte title insurer, claim against the Wall Street conduit and or combination of companies, if the E& O and Fidelity bonds are important to consider.
We will get you and your attorney there but only the attorney can deliver the goods.
MSoliman
admin@borrowerhotline.com
Why are some posts being removed? I check this website several times a day–yesterday there was a very important post about securitization that is not there today. I woke up so excited to see the responses to that post and wanted to send it to everyone I know. I love this website–also, one of my posts was removed last week. Maybe just a computer glitch, huh?
max gardner
digs in to the loose change that appears to be the “captain at the helm” in bk forclosures, more un-nerving news from the battle trenches .
http://www.creditslips.org/creditslips/2009/08/show-me-the-original-note-and-i-will-show-you-the-money.html
Does the insurer absorb credit losses over time?
Yes. Consider a $ one billion ABS. I believe it could likely sustain the loss backed by an insurer such as AMBAC – it will sustain itself assuming interest that went unpaid, i.e. something like 6%, or $60 million. So in terms of capital adequacy, the insurer might be able to earn enough premiums over time to offset losses.
The note is void? I don’t know about that. . . .Its physical presence in a recovery may become satisfied by proper recording and registration under a UCC filed by the holder. It satisfies the security Component but hardly “voids” the instrument.
What is your background here as I am not able to produce any evidence of rendering the document voidable versus where I agree with the concept of a replacement in a proceeding using a lost note affidavit? (The defense is weak in my opinion)
Would the terms and condition set forth likewise be void whereby details are cast to a copy? I am interested none the less if you can point to an authority.
The idea of a UCC registration assumes a hypothecation – a note held by trustee but is lost to the lender whereby there is no real holder -interest versus possession.
Do you see where I am going here under FAS 140-3 and Derecognition? Banks are the e underlying component for the securities model to work and FDIC capital limits make this game a dangerous one.
Back to the insurers. By supplementing or replacing the lenders exposure to risk based capital rules and enforcement (getting caught) various Insurance policies written on ABS and CDOs are in the form of “pay as you go” CDS.
I understand this to mean (correct me if wrong) that in the event of a default, insurers are responsible for paying any interest shortfall and ultimately, any principal shortfall. (As the assets age and depending on the vintage of offerings).
So for example, say AMBAC insured a senior, AAA-rated subprime RMBS piece. We will assume pool loss level exceeds the registrant expectations allowing the the lower senior sub piece to liquidate while your senior tranche can withstand a small hit – 15 to 20bps/ ann. shortfall Insurance is accountable for only the 15 to 20 bps over time and not on demand.
In a typical CDS contract, the seller of protection must buy the reference item upon default – protection upon default.
msoliman@borrowerhotline.com
admin@borrowerhotline.com
msoliman
http://www.langleybanack.com/news/index.php?year=2009
Please read this article. They don’t have the Notes because they have been converted into Securitized Instruments.
MSoliman
Mortgage Audits
oliver@ipa.net
john
MSoliman,
I think you are side stepping the issue question.
A Note is converted into another instrument and is no longer a Note. That new instrument can be offered and sold in the capital markets. When this happens the Original Note has to be Voided. It’s in the Federal Register. Read it yourself, it is only a 100 pages or so.
You have to look at the step by step process of where the Note is and what is going on in the transaction. It’s like you have 3 cups turned up side down on a flat board. You put the Note under one of the cups and you start moving the cups around so fast you can’t keep up with which cup the Note is under….
Mortgage Audits
oliver@ipa.net
john
to msoliman or anyone else who can answer- I posted
several questions 8/17-haven’t gotten any answers, here is another one- when a pool of mortgages defaults, or goes to zero value, and the cds proceeds are paid by the Fed or Treasury via bailouts, who gets the money? The investment bank who took out the cds? The trust? The investors who purchased the debentures? what is the wording in the s&pa or the trust or the articles? of the trust in regard to this? I haven’t seen this mentioned AT ALL on this or several other websites in the last year. Please advise. “Illegitimi non carborundum est”
The Need to Raise Issues Under FAS 140 While Approaching Foreclosure.
The Issues herein involve the culmination of the recovery process for the subject asset. Our intention was to either bring these arguments to court in a formal pleading and action or talk this matter out subject to a reconciliation of the misunderstanding.
Accounting professionals know under the Federal Accounting Standards Board who addresses these matters that the securities platform which your client delivers into was motivated by an economic participation in loans originations and transfer. Delivery by a seller under the terms of the trust indenture are subject to extensive representations by a registrant and to mean all related parties acting in combination for the benefit of the reporting parties to the investment, typically as a subsidiary or wholly owned entity.
Pay close attention here as you have a paramount responsibility and must remain accountable for transparency with regards to the subsequent events surrounding the subject loan and the majority of the loans you claim are held in trust. Our accounting and Wall Street analysts have concluded the critical factors affecting the trust platform and delivery methods mirror one another from trust to trust and loan or asset to asset. Your reliance on CDS insurance specifically allows member FDIC banks to cut the normal $800 million capital for every $10 billion of corporate loans on their books to just $160 million, meaning banks with CDS insurance can loan up to five times more on the same capital.
Strict compliance is mandated for a credit default swap (CDS) is a swap contract in which the buyer of the CDS makes a series of payments to the seller and, in exchange, receives a payoff if a credit instrument — typically a bond or loan — goes into default (fails to pay). Less commonly, the credit event that triggers the payoff can be a company undergoing restructuring, bankruptcy or even just having its credit rating downgraded.
CDS contracts have been compared with insurance, because the buyer pays a premium and, in return, receive a sum of money if one of the events specified in the contract occurs. There are a number of differences between CDS and insurance. The buyer of a CDS does not need to own the underlying security or other form of credit exposure; in fact the buyer does not even have to suffer a loss from the default event. In contrast, to purchase insurance, the insured is generally expected to have an insurable interest such as owning a debt obligation;
• the seller need not be a regulated entity;
• the seller is not required to maintain any reserves to pay off buyers, although major CDS dealers are subject to bank capital requirements;
insurers manage risk primarily by setting loss reserves based on the Law of large numbers, while dealers in CDS manage risk primarily by means of offsetting CDS (hedging) with other dealers and transactions in underlying bond markets; in the United States CDS contracts are generally subject to mark to market accounting, introducing income statement and balance sheet volatility that would not be present in an insurance contract;
Hedge Accounting may not be available under US Generally Accepted Accounting Principles (GAAP) unless the requirements of FAS 133 are met. In practice this rarely happens.
A bank has federally regulated capitalization limits and set-aside risk based requirements you so well articulate here. So is the bank a warehouse lender or mortgage lender? And, are the securities participants all related? Are these corporate guarantees from an SPE and bankrupt insulated entity?
Where the guarantees are as the SPE holds no assets. Is the guarantee from the recently bailed out Wall Street institutional investor? Or perhaps a BK victim likes GMAC? If the loan is delivered as a sale operating under the assumption of a subsequent event, which it is, then you none the less SOLD the asst absent any control or obligation to repurchase? Question here is why are the parties collecting and directing the recovery process if the combinations has committed to a sale.
A bank cannot make a subprime loan unless the loan is sold to a bonefide third party. Survey say’s no sale has taken place, where they have not perfected title or interest in title and the subsequent evens are solely to throw you off under the presumption a trustee sale is in fact an open market transaction. Here are the arguments for sending this RE investment trust or “sinking vessel” of financial of worthless assurances a drift and into receivership. It’s called derecognition. Your bank capital set aside logic is illogical and could lead the banks to collapse from these unsold “troubled assets” and force the government into a “relief program” whereby under FAS 140-3 it addresses the topic as follows:
“If a transferor has no continuing involvement in the transfer of the loan with the transferee the transfer is considered a SALE.”
THAT PARTY IS OFFERING A BROKEN PROMISE OF RELIEF, WORKOUTS, and MODICIFACTIONS ETC (which it is) the controlling interest shall be accounted as secured borrowering. Derecognition of trust assets and capital set aside limits that the bank avoided create a sticky situation and using a trustee sale to establish an OMT is an SEC fraud and subject to criminal consideration.
MSoliman
Secondary Examiner
admin@borrowerhotline.com
Is securitization fraudulant?
No who ever said it was fraud. I opine you should not use fraud in a defense.
In order to securitize you originate the loan and deliever it to the security as a Transferor to a transferee.
The transferor is the obligor and the transferee is the creditor. Or in the case of a trust its memebers or certificate holders are the creditor.
Wheres the fraud- I dont see any fraud what so ever.
msoliman
admin@borrowerhotline.com
To MSoliman:
The following is part of an article with has a link at the end of this blog. I believe understanding the securitization of the loan is part of the KEY to this big corrupt mortgage industry by not only Wall Street but the very Government that has been elected by the People of these united States.
I have yet to see any Expert report in any case outlining the law as to how the securitization of the loan (what was securitized, the Note, the Mortgage / Deed of Trust or both) created a void Note and/or Mortgage / Deed of Trust.
If the Securitization was fraudulent then why worry about the Trust that the Securitized Instrument was placed in? How did the Securitization change the NOTE into a Different Document / Instrument?
Are the Noteholders “required by law” to inform the Borrower at the time of the loan transaction their intent (other than selling of the Note / servicing of the Mortgage / Deed of Trust?) as to what is being done to the Note?
In the Federal Register / Vol 70, No. 5/ January 7, 2005 the Government said that:
“Asset-backed securities are securities that are backed by a discrete pool of self-liquidating financial assets. Asset-backed securitization is a financing technique in which financial assets, in many cases themselves less liquid, are pooled and converted into instruments that may be offered and sold in the capital markets. In a basic securitization structure, and entity, often a financial institution and commonly known as a “sponsor,” originates or otherwise acquires a pool of financial assets, such as mortgage loans, either directly or through an affiliate. It then sells the financial assets, again either directly or through an affiliate, to a special created investment vehicle that issues securities “backed” or supported by those financial assets, which securities are “asset-backed securities.
So we see here that the NOTE and/or the Mortgage/Deed of Trust is [ converted into instruments ]. These are “new” instruments / Documents. What happened to a borrower’s Note / Mortgage / Deed of Trust from which the new instruments were made?
What is the cost in Securitization of a Note/Mortgage/Deed of Trust? Who pays for it?
Article….
To understand securitization, one must think like a banker. Bankers believe that profits are constrained by reserve requirements. So, what they really want is to expand credit with no reserves; the equivalent of spinning flax into gold. Securitization and derivatives contracts achieve that objective. They create a confusing netherworld of odd-sounding instruments and bizarre processes which obscure the simple fact that they are creating money out of thin air. That’s what securitization really is; undercapitalized junk masquerading as precious jewels. Here’s how economist Henry CK Liu sums it up in his article “Mark-to-Market vs. Mark-to-Model”:
“The shadow banking system has deviously evaded the reserve requirements of the traditional regulated banking regime and institutions and has promoted a chain-letter-like inverted pyramid scheme of escalating leverage, based in many cases on nonexistent reserve cushion. This was revealed by the AIG collapse in 2008 caused by its insurance on financial derivatives known as credit default swaps (CDS)…..
The Office of the Comptroller of the Currency and the Federal Reserve jointly allowed banks with credit default swaps (CDS) insurance to keep super-senior risk assets on their books without adding capital because the risk was insured. Normally, if the banks held the super-senior risk on their books, they would need to post capital at 8% of the liability. But capital could be reduced to one-fifth the normal amount (20% of 8%, meaning $160 for every $10,000 of risk on the books) if banks could prove to the regulators that the risk of default on the super-senior portion of the deals was truly negligible, and if the securities being issued via a collateral debt obligation (CDO) structure carried a Triple-A credit rating from a “nationally recognized credit rating agency”, such as Standard and Poor’s rating on AIG.
With CDS insurance, banks then could cut the normal $800 million capital for every $10 billion of corporate loans on their books to just $160 million, meaning banks with CDS insurance can loan up to five times more on the same capital. The CDS-insured CDO deals could then bypass international banking rules on capital. (Henry CK Liu, “Mark-to-Market vs. Mark-to-Model” http://www.henryckliu.com/page191.html )
Link: http://www.smirkingchimp.com/thread/22164
Mortgage Audits
oliver@ipa.net
john
RECEIVERSHIP TALKS CONTINUE FOR GUESS WHO?
No it’s not WallMart folks. Freddie Mac Posts 1st Quarterly Profit in 2 Years Freddie Mac, the second-largest provider of United States home mortgage funding, on Friday posted its first quarterly profit in two years as gains from hedges and a one-time accounting change offset still-lofty credit losses, Reuters reported.
For the first quarter in four, Freddie Mac said it would not need a capital injection from the Treasury to maintain its business of providing credit for United States housing. But it said it continued to rely on government money to keep it afloat.
Freddie Mac and its larger rival, Fannie Mae, are seen as key barometers of the American housing market, having expanded their scope as competitors fell during the financial crisis. Under government control since September, they are also being asked to do more for United States efforts to stabilize the shaky housing market, even though that is turning out to be a costly effort.
Together, the companies own or guarantee more than $5 trillion in United States mortgages.
“Our outlook remains cautious due to rising foreclosures, growing unemployment, tight lending standards, and buyers’ reluctance to reenter the market,” John Koskinen, Freddie Mac’s interim chief executive officer, said in a statement.
Freddie Mac reported second-quarter net income of $768 million, compared with a $9.9 billion loss in the first quarter and a $821 million deficit in the period a year ago.
After payments of $1.1 billion in preferred stock dividends to the United States Treasury, Freddie Mac had a net loss of 11 cents per diluted common share.
Freddie Mac said profit was cushioned by a $5.1 billion increase in equity due to the adoption of accounting rules that govern how it must recognize losses. It also had a $4.2 billion gain from derivatives that rose in value as interest rates rose, and greater interest income as its borrowing costs fell.
Provisions for credit losses declined to $5.2 billion in the second quarter from $8.8 billion in the previous period, driven by recent home price improvements, it said. But that benefit is probably seasonal, and provisions will probably rise again, it said.
Fannie Mae on Thursday reported a $14.8 billion quarterly net loss, and noted a “significant uncertainty” to its long-term health given the lingering housing crisis and costs taken to slow foreclosures.
Go to Article from Reuters via The New York Times »
msoliman
admin@borrowerhotline.com
If a trust is insolvent it should be in bankruptcy. If it attempts to work out problems while it continues with corporate malfeasance and drunkard spending by insiders and Wall Street preferential then someone must stop the pain felt by the lil guys who die a slow death
Creditors have rights and may seek to force a company into bankruptcy or force a receiver to be placed in the organization with the express intent to liquidate it. I was called into an assignment in 2007 where the orphan managers were left standing with $3 million and $18 million shot down the drain.
The ownership was on the run but could return and who knows what they would do with the remaining capital. I contacted bankruptcy attorneys and after a while we all agreed it was a matter of receivership and subject to bringing the complaint to the state attorney general.
NOTE- The Feds did eventually show up not to long thereafter with military style weapons amour guns and badges a blaze (a li’l weird in my opinion) as woman and children were horrified. The government sought to preempt the state here and recivership but still to protect and uphold the law. )
Otherwise, I recommended to the management the company be placed into voluntary receivership or face involuntary action of the same kind.
Some of you have fun at my expense and so do I …its all good. But I’m not fooling around here however about the prospects of bringing receivership to a trust which is under state juridiction. The control is relinquished from the trust’s Trustee who is fired.
Assets (your loans) can be liquidated in as little as 14 days. Are you a debtor or a creditor (THINK don’t speak and the light will come on! ). READ EACH PROSPECTUS AND INDENTURE SUBJECTING THE INVESTOR TO RETURNING ALL CASH RECEIVED TO DATE TO THE BORROWER ).
But on the other hand if you bring down one investment trust in receivership you may bring down the entire US banking system. . . that’s your problem If I stand behind my articles and comments.
So what are the chances? Believe me, I DONT KNOW! Maybe save the travel plans for the march on Wall Street while capital markets animators and these “Banksters” are off in the Hamptons and you are left homeless.
A threat of receivership will even the playing field with the top level brass you personally call on to further discuss the problems you are having. This is the case while you ask questions about the prospects of derecognition and default using a problematic foreclosure profile that is repeating itself day in and day out.
This is a difficult and dark time in all our lives.
God Bless America and have faith!
To msoliman-
Is it true that banks own 5% of the mortgages, and
trusts own the other 95%? And is this because they couldn’t dump the few mortgages they held before the secondary market collapsed? Please comment.. And on a foreclosure filing, is the “so and so bank, NA as trustee” only because a trust cannot legally foreclose, and if so, why is that? How many banks, in your experience, acting as “trustee” aren’t registered to act in such a capacity, and must they be registered in each state individually, or is there a blanket national registration allowed? My last question, when a loan servicer, in their foreclosing documents, lists “legal fees in the 8-12,000 dollar range, of which they forward around 1200 bucks to the foreclosure mill, is there any accounting for this charge? Do they actually have “legal departments” staffed by attorneys, or are they just following the computer program they all use, and what is the name of that program- I think 55% of the servicers use the same outfit. Thanks, and I enjoy your detailed posts on the picayune underpinnings of the whole shameful scam, especially the GAAP and FAS rules. “Illegitimi Non Carburundum Est”
Maher-can you please explain how a trust would be liquidated?
What are steps the trustee would need to take?
UD TRIALS AND EVALUATING NEGLIGENCE CASES
If you are in an unlawful detainer hearing remember you’re limited in your defenses. There is always some hope for what I call the foot in the door approach with a judge and California UD hearing.
Pro life advocates are firmly set in the argument of life under any and all situation. The other side or advocates believe there must be some minimum compromise. However, pro life knows that any concession of any kind will result in the foot in the door and thereafter the door can swing wide and wider open. Extreme as this example is it illustrates the UD courts position on the subject of jurisdiction. I believe your best defense is a judicial offense and avoidance of the UD matter in favor of filing a complaint in the next department of district court. There you can seek to consolidate the matter while requesting a hearing in proper jurisdiction for a temporary restraining order in anticipation of obtaining an injunction. It’s too much to gamble that the judge will allow just one argument necessary to open the door for a wrongful foreclosure claim limited by jurisdiction.
As a foreclosure expert witness my claims are that low modification and workout s are due to more lender fraud. Very few borrowers have received much assistance at all from the major lenders. These Wall Street backed “pretender lenders” are acting as if they are compliant with government calls to fix the problem of mass foreclosures. It appears to be an effort to deceive the public. This information is provided according to M.Soliman an analyst and research sector specialist. He cites FAS 140-3 as a problem whereby GAAP accounting rules actually prohibit a modification and do not permit the originating lender to have any control over the assets when claiming to have sold them into a security.
The housing crisis is hitting states like Oregon and Washington hard for example and more calls for economic assistance by homeowners will lead to fewer chances for a solution. Without a remote chance for relief foreclosure is a likely scenario for millions of Americans who had hoped to keep their home.
Courts and the presiding judges maintain strict jurisdiction over the most heinous of foreclosure evictions. They remain focused and limit defense arguments to a three day notice and evidence of proper service for the detainer notice. My engagement as an expert has allowed me to review and document serious issues of transparency under Sarbanes-Oxley related information and servicer conflicts attested to and falling under section 1122 AB under the SEC authority. Auditor attestation reports are damaging to say the least when accompanying the 10K and 8 K filings for lenders and our counsel has no doubt the same exists for you. The class action you see listed herein is deadly and accurate in its attack of a cover-up by ENRON bred, rouge accountants….once again.
I am prepared to show under FAS 140-3 that the “sales” reported to the SEC are material misrepresentations regarding transfers and control of assets that are NOT sales. Instead it’s all covering up a member banks leverage of secured debt similar to a hypothecation and subject to repo agreements that allowed each of the unlawful business combinations to aid and abet each Federal Savings Banks. Therein is a fraud against the OTS and FDIC auditors about their balance sheets and true levels of capitalization.
These same lies cover up the fact that the correlative Wall Street investment trusts are in actuality presently over 20% impaired in their assets, which by the terms of the trust indentures, must result in the collapse and liquidation of the trusts. Both the pass-through trusts and the FSBs and Bank N.A. are insolvent as a matter of law. This is the stark reality of it all.
All of these facts may be pleaded as a matter of public record and will result in production of substance at trial, to the likely profound dismay and detriment of the combination of companies.
msoliman
http://www.borrowerhotline.com
Morgan Stanley Class Action Complaint
http://www.oakbridgeins.com/clients/blog/morgan2.pdf
A class suit is moving along If you purchased one or more of the above stated certificates pursuant and/or traceable to the alleged false and misleading Registration Statement and Prospectus Supplements issued between December 2005 and November 2007.
According to the complaint the plaintiff alleges that Morgan Stanley Capital I Inc. and certain of its officers and directors, the issuers and underwriters of the above stated certificates and the rating agencies that rated these Certificates violated the Securities Act of 1933. The complaint alleges that on December 23, 2005 (with amendments on February 17, 2006 and March 14, 2006), Morgan Stanley Capital and the defendant issuers caused the Registration Statement to be filed with the SEC in connection with the issuance of billions of dollars of Certificates.
And the Registration Statement omitted and/or misrepresented the fact that the sellers of the underlying mortgages to Morgan Stanley Capital were issuing many of the mortgage loans to borrowers who did not meet the prudent or maximum debt-to-income ratio purportedly required by the lender, did not provide adequate documentation to support the income and assets.
These items are significant s they are required for the lenders to approve and fund the mortgage loans pursuant to the lenders’ own guidelines, were steered to stated income/asset and low documentation mortgage loans by lenders, lenders’ correspondents or lenders’ agents, such as mortgage brokers, because the borrowers could not qualify for mortgage loans that required full documentation, and did not have the income required by the lenders’ own guidelines to afford the required mortgage payments which resulted in a mismatch between the amount loaned to the borrower and the capacity of the borrower, so the lawsuit.
msoliman
http://www.borrowerhotline.com
Thanks Don
yes all these judges are covering their asses.. think about why would go out on a limb to rescue a drowning homeowner… not in our lifetime.
corporate law has long engulfed civil law and or civil rights.
not all but most judges/lawyers/bankers/politicians all sleep together, sad ; [
and yes the entire system has been manufactured to produce servitude of the working class..
$$ is the boundary of our social class
We are trying to locate an attorney in North Carolina who “gets it” and can help us keep our home. The lender has sold our home without any service (not posted or mailed or in person). 910-237-3048
Mr Neil has done everyone homeowners & lawyers alike a great service here.
so if you speak of lawyers that turnout to be rip-offs or scam artists this in no way
reflects on neil so i doubt you’ll be banned here speaking the truth or opinion of another as long as its not defamatory ,on the contrary reveling a scam or legal rip-off , lawyer or other is of a benefit to all of us.
the” truth membership does have its privileges” ! not “american express”
otoh
Mortgage Auditor,
this Minnesota case ..well
i’m pretty sure its a loser, fighting MERS… it seems like a foolish move to engage them without a sure TRAP to prevent them from squirming out.
the case law appears todate without a doubt in their favor.
its not the laws that win your case for you its the lawyering that wins your case.
Be careful what you say negatively about Law*-I mean Attorneys (considering they’re not very Lawful) you may come back here to post 1 day & notice that … Hey evrytime you try 2 post, it doesn’t at least not 4 u anymore because you most likely got banned by neil or swallowman. It’s a damn shame I tell ya I felt like my fam had disowned me the first time it happened 2 me.
JT,
Please call us at 772-403-3897 to discuss. We handle most of Florida and we know Foreclosure Defense.
SB
Dear JT,
Everything you say is true. I wonder how many lawyers are purchasing foreclosed homes with the money they are making off those in distress.
It’s completely disgusting that we, as a country, can allow our leaders (who are lawyers) to manipulate every part of the system to keep the majority down.
Could you imagine if they gave an actual stimulus to the people? Only $300 million and everyone could have paid off their houses (and the banks get their money), start new businesses, pay for college, pay medical bills, BUY NEW CARS (save the auto industry)… OMG!!!
But no… we shouldn’t be debt free, we should be indentured servants bound by debt for our entire lives.
And now they’re pushing gold sales preparing for the fall, or… what?
No wonder gun sales are booming.
Best wishes,
JD (Homeless and bankrupt)
After nearly a year of not being served, Countrwide (David Stern) has started the “service by publication” process so now, after reading this blog for over a year, it’s “go” time.
I am in Florida and there are no “lawyers that get it” in the 941 area code.
I have read many of the FL filings posted here and have tracked them on their respective county clerk’s websites. Suffice it to say that much of the enthusiasm here doesn’t always translate into a foreclosure “going away.”…no, they mostly get foreclosed on eventually. I have spoken with April Charney, posted here, and spoke with other ProSe’rs and lawyers. The local lawyers here seems to “glaze over” when you start to talk about securitzation, TIL violations etc etc. Of course, they are happy to take the case for hundreds of dollars an hour but we know how that goes. There is no luxury here to hire and fire several times before the jig is up.
I am a firm believer in what is professed here but let’s face it. If the common layman here were financially sound, chances are they would not spend the large amount of time reading and investigating…no, they would no be in foreclosure. I read several post where lawyers collect fees and really do not take the case to heart. Yes, it’s all about profit in the USA…not a bad thing, just he way it is and lawyers have to eat too. But when you put your only house into a professional’s hand, you don’t want the second crime of inept representation. As a homeowner under duress, we only have one house. A lawyer can just get another client.
So, in a nut shell. I am looking for representation or at least a coach. I am like anyone else, I have read this and other blogs and know my case can be won. My ex did all the loans with Countrywide (6 first mortgages and 3 second morgages ALL with Countrywide). The one house I was left with…the loan should have NEVER been approved. In short, there are loans not even listed that were with CW at the time, rents pushed 33% in 3 months…all this to have a back ratio of 50%+. If all of the loans and payments were on the app, there is NO WAY this would have been approved. I know the loan is with FreddieMac now and accoding to SEC filings, that is where CW’s best loans went…lol. I am no loan expert but I have been a Real Estate broker for 18 years so I know a little of what is going on. I learned for my own situation but it benifits my customers to know what is going on the help them, if I can.
That is an overview of the uniqueness of my case. Of course, in standard order, the current Sternco FC filing has no note, no assignment etc etc… the standard stuff.
Here is my offer to any FL attorney interested. Get the loan and mortgage unhooked/ knocked out of the box and my offer is $20k if you win. Represent me fully, partially, or be a coach. I have no problem going to court and talking to the judge. Your call. If you miss deadlines, don’t do what you say, I won’t continue with you. I only ask what you would ask if you were in my position. Tell the truth, show up on time, honor your commitments, and work for me like it was your own. I don’t think that is too much to ask. My concern is legal filings, if not done correct (and the lingo is greek sometime to me) with proper case law, one can win the battle but loose the war.
If there is a lawyer here who is interested, please email me at the address above so we can discuss the issue further.
I hope this case is appealed–bring in more legal support.
This “Minnesota Supreme Court ” ruling sounds really bad. Does anyone have an idea of the overall importance? Is this a death sentence for foreclosure defense in Minnesota?
Well, I wonder if those Minnesota judges owned any stocks in MERS or the companies which invest in MERS as I listed in a prior posting In Homeowners section. Maybe direct investments or through their 401Ks. Even in the banks that are foreclosing…who could resist those stocks!!
St. Paul, Minn. — The Minnesota Supreme Court today ruled against five Hennepin County homeowners who said an electronic mortgage registration system made it virtually impossible to defend themselves against home foreclosures.
The system, called Mortgage Electronic Registration Systems, or MERS, is a registry involved in 40 percent of all foreclosures in the Twin Cities.
MERS was created by the nation’s largest mortgage lenders, such as Chase, Citigroup, and Countrywide, to streamline the foreclosure process after the 1993 savings and loan crisis. MERS essentially privatized part of the mortgage recording system.
But some legal aid lawyers argued the process kept homeowners in the dark about which institutions actually held their mortgages.
The Hennepin County homeowners in the case contended that state law required MERS to identify which institutions held the mortgages, and list them in a published foreclosure notice.
They wanted to know details of the mortgage sales — including who held promissory notes to the property and who held legal title.
Writing for the 6-1 Supreme Court majority, Justice Paul Anderson wrote that Minnesota law requires MERS to record who’s assigned legal title, but not who’s assigned the promissory notes.
He also made a reference to the movie “It’s a Wonderful Life,” writing that it’s not hard to have nostalgia for earlier times, but that in many mortgage transactions, “a George Bailey no longer sits in the corner office of the Building and Loan Association in Bedford Falls.”
Anderson said the mortgage banking industry has changed, and with it certain problems have become evident. But he said to remedy those shortcomings goes beyond the court’s authority.
Legal Aid attorney Amber Hawkins, who brought the case, says the decision is disappointing for homeowners facing foreclosure and makes it harder to avoid the same problems again.
“The public will never know the chain of ownership in these bad loans,” said Hawkins. “We will never be able to go back and figure out who were the players. Who had interest in these loans? Who benefitted from these foreclosures?”
William Hultman, a senior vice president at MERS, would not answer questions but did release a short statement.
“We are pleased with the justices’ decision in this case. Now that the ruling has been issued, we are moving forward and continuing to focus on meeting the needs of the homeowners by lowering the cost of purchasing a home.”
Justice Alan Page was the lone dissenter in the court’s decision. He said the Legislature could not have been more clear in requiring that all assignments of a mortgage be recorded before a mortgage can be foreclosed upon.
He said by allowing the identities of promissory note-holders to remain hidden, the court essentially eliminates a homeowner’s ability to assert a wide range of defenses to foreclosure. And as a result, neither borrowers nor lenders will ever be able to hold anyone accountable in the chain of transfers
FDCPA Violations will PREVENT Banks from obtaining Summary Judgment;
FDCPA applies to entire litigation including interrogratories (The U.S. Court of Appeals for the Fourth Circuit Sayyed v Wolpoff and Abramson)
“…interrogatories failed to state that they were a communication from a debt collector, in violation of 15 U.S.C. § 1692e(11)
Article: http://www.michigancollectionlawblog.com/2007/05/fdcpa_applies_to_attorneys_com.html
1. Although you do not have put the phrase “This is a communication from a debt collector” on pleadings, the FDCPA applies in all other respects to the litigation process including your pleadings. If (banks) sue for an amount that is not allowed by contract or law, they bear the consequences.
2. Thus a communication to debtor’s counsel is the same as a communication to the debtor.
3. (Banks) cannot rely upon the bona fide error exception to the FDCPA to get them out of an FDCPA lawsuit quickly. Whether they are entitled to use this defense is a question of fact. Questions of fact are usually resolved after a long and expensive trial.
I have come across an interesting admission from a former employee of First Magnus while researching the endorsements of a note here in florida.
As you may or may not know they were a wholesale lender who funded from WAMU warehouse lines.
The note I am looking at is endorsed from 1st Mag to Washington Mutual Bank, it is undated and signed by a person who’s title with the company is “shipper”
Must be one step below VP right?
My question is this: isn’t there a UCC rule regarding endorsements being valid only if done by someone with a title higher than “shipper”?
I am trying to fight the authority and validation of the endorsement, any suggestions ??
Sure. Yes. No fear on this end. I’ve called twice being on hold. Auto-mated said “Nationwide Loan Services” So I thought, “Great. More scams.” No offense. Just don’t know who to trust anymore. Thank You. I’ll call again and leave a message.
Thanks.
To Steve
Kopp is lawyer and Soliman is Examiner and NLS does not provide loans, they fight lenders.They helped me and is up to you are you going to contact them or not.
Are these lawyers? Why am I calling a National Loan Servicing Company? I don’t need another loan.
Steve,
I would call Steven Kopp,Esq. and Maher Soliman from NLS(310-765-7388) for free and non obligated consultation about your case.At least I have very positive experience with them.Good luck to you
I’ve perforned the mortgage audit through professional service and recieved no response from Q.W.R. My auditor filed complaints with FTC, Office of thrift, U.S. Dept. of housing, and the Comptroller. Now I recieved N.O.D. notice. I sent e-mails to four lawyers” that get it ” on this website. Three in Los Angles. One in Long Beach. No responses. I went to court house and legal aid. No one has heard of Pro Se or “Show Me the Note Defense.” Legal aid thinks it’s all a scam. I’m in Santa Barbara California. What am I doing wrong or what should I be doing? Here is a copy of the e-mail I sent out.
Hello,
I found your contact at livinglies website under ” lawyers that get it.”
Curently I recieved my “Notice of Default”
I have all my loan docs. and taxes on pdf. files available. My broker had my taxes and bank statements. He even went as far to calling my tax accountant to recieve 06 taxes since I gave him 04 and 05 taxes.
My situation lists:
Home price $350,000 down payment $64,000 total closing $76,000
3 year Option Arm
2 year pre-pay penalty
High Yield Spread Premium
20% down payment to cancel P.M.I. but the lender took out L.M.P.I. without notification, as to a letter and phone call from Triad Guaranty Insurance. Violation under USC Title 12 Section 4905. Disclosure requirements for lender paid mortgage insurance.
No response to Q.W.R. I hired “Mortgage Audit Services”
This is a soft audit violation response e-mail reply from U. S. Auditors
“Hey Steve,
I just wanted to follow up with you concerning your loan and what we’ve been able to find in the soft audit.
® Negative Amortization loan ( this only let your principle go up, and never down, up to 115%)
® Falsified income (documentation said you made 6k per month, which allows you to qualify for larger loan)
® Prepayment penalty with rising mortgage payment
( there was no need to put you into a prepayment penalty , the mortgage broker only made more money by adding that into your loan)
® Adjustable interest rate, not needed
( with a credit score over 750 you in deed should qualify for a fixed rate interest loan)
Just these findings alone make for a good case that we can move forward with.
U.S. Auditors wanted $3,500 upfront with $1,000 a month using the threat of Federal Court to negotiate a modification. I am NOT INTERESTED IN A MODIFICATION unless the mortgage is recinded to giving me the house so I can sell it. Otherwise I’m looking to rescind the loan. I have already been denied a modification. I’m a self-employed (unemployed) General Contractor living on savings. I am however seeking legal councel but writing in advance to say I’m not emotionally trying to save the home and cross checking any replies with my mortgage auditor. I’m doing this since I’ve already played the game with my broker, lender, and “American Loan Rescue” who ripped me off $2,800 for a modification which is already being sought after by an attorney. My mortgage auditor so far has been the only upfront trusting person. Complaints have already been filed auditor under TILA, RESPA, Fair Debt Collection, Practices Act, and the Mortgage Reform and Anti-Predatory Lending act.
I’m seeking a lawyer handling fraud cases, proof of note, or even offering councel to Pro Se. Again, please don’t respond if gimmicks are involved. We would only be wasting each others time.
Thank You
Steve
As you can see I’m frustrated, stressed out and pissed off sitting around. Trying to be Pro-active. Court house says you need a lawyer. Fine. But lawyers either don’t respond or only offer modifications. Fine modify the loan. But “Hope for Home Owners” and “H.U.D” said you can’t legally modify with savings. So I’m using my savings to get a lawyer but I don’t agree with open end contracts at a $1,000 a month. I don’t know how long it could take to settle the lawsuit or even how much. My e-mail works. steveherbln@verizon.net My cell phone works. I know because my lender calls three times a day. What the heck am I doing wrong?
(Florida) Litigants – An additional weapon at your Disposal, the FCCPA – it has TEETH, (injunction/equitable relief without having to post a bond, and can be used in conjunction with the FDCPA) (whichever provides the consumer with the greater benefit).
**********************************************************
NOW ACCEPTING NEW CLIENTS: We have just added a new Attorney to our network who has studied under April Charney, Esq. She will fight for you!
**********************************************************
David, on August 1st, 2009 at 8:09 pm Said:
Do not contact John Dunn from Mortgage Audits … oliver@ipa.net … I contacted him, and shortly afterwards I received Acai Berry Spam with the subject line that I typed to him!! I asked him about htis and he blew me off and did not respond to any messages after that. I have reported him to the Arkansas Attorney General. He is a scammer and do not send him anything …
David,
I have never contacted you and I do not send out Spam. I do not know who you are but I will contact Neil off blog and find out where you are and my attorney will be contacting you along with a complaint to your Attorney General’s office and the FBI.
Mortgage Audits
oliver@ipa.net
john
Anyone ever offered a short sale or lender settlement must stop the clock. Person in RI refers to of received an offer by a lender – yet to be seen.
Suspend the ability for either side to seek action and get all terms and conditions in writing. Do this under a “Stand Still” agreement or other understanding for suspension of servicer activities.
** Thur July 29th 2009 Superior [Whitter] Court / State of California. / Matter of Wells Fargo v Jackson // Unlawful Detainer. Court ruled in favor of the Plaintiff for Sheriffs Writ of Possession to be executed the day of Emergency OSC. Defendant seeking additional time / request is unrelated to Courts errors and issuing the Writ for removal of a holdover.
Court grants the borrower additional time of 20 days.
Comments-
Borrower gets back home and there is counsel for the Plaintiff waiting for the Sheriff. . . Attorney is informed of the matter and leaves.
He calls our office later threatening to file his own ex parte (decided by a judge without requiring all of the parties to the controversy to be present) and wow…was this guy lit up! Uses every &^&^%$ name in the book.
A motion to set aside the judgment is pending counsel filing the motion later this week. Defendant seeking to consolidate the matter and request (from the court) be granted a TRO pending a subsequent hearing on all new facts to be introduced surrounding the case.
msoliman
admin@borrowerhotline.com
Do not contact John Dunn from Mortgage Audits … oliver@ipa.net … I contacted him, and shortly afterwards I received Acai Berry Spam with the subject line that I typed to him!! I asked him about htis and he blew me off and did not respond to any messages after that. I have reported him to the Arkansas Attorney General. He is a scammer and do not send him anything …
Meghan,
If you would email me directly at oliver@ipa.net I would be happy to discuss you case and issues. I have sent two of my mortgage audit clients to George.
I helped stop the evictions giving them time to hire George and for him to come into the picture. He has stopped the evictions and presently working on getting the foreclosure thrown out.
Mortgage Audits
oliver@ipa.net
john
CC 2923.5 AMENDED CIVIL CODE
During the initial contact, the mortgagee, Beneficiary, or authorized agent shall advise the borrower that he or she has the right to request a subsequent meeting
NEVER OFFERED
and, if requested, the mortgagee, beneficiary, or authorized agent shall schedule the meeting to occur within 14 days.
NEVER OFFERED
The assessment of the borrower’s financial situation and discussion of options may occur during the first contact, or at the subsequent meeting scheduled for that purpose.
NEVER OFFERED
The mounting legal effort finds that homeowners whose residences are in foreclosure are subject to fraud, deception, harassment, and unfair dealing by mortgage servicing agents and their foreclosure “Loss Mitigation” consultants from the time of settlement to when a Notice of Default is recorded.
ALAWAYS AN ISSUE
MSOLIMAN
ADMIN@BORROWERHOTLINE.COM
Zak
You finances suggest BK. A BK (13 likely) stops the sale dead in its tracks. Then what…..
MSoliman
admin@borrowerhotline.com
Walter
For fear of something (?) or lack of case precedent, its true!
It’s an unfortunate situation through out the appropriate jurisdiction in California.
The courts are just hung up on mutual liability for fraudulent practices and equitable distribution concerning consideration and liability. I don’t necessarily agree.
There are better arguments in my opinion Walter. Would love the chance to connect for an hour an exchange some very compelling recent “new” findings.
(Good attorney here )
MSoliman
Meghan, on July 28th, 2009 at 8:12 am Said:
Are there any lawyers that “get it” in New England? I am in RI and need help! I am dealing with Wells Fargo and American Home Mortgage Servicing, Inc. They are telling us that they are willing to rescind on the foreclosure, as long as we can find alternative funding. They are giving us a time limit of 45 days and I’m not sure what to do now. How can they say that and expect that from us? Please help me!
CALL:ATTORNEY GEORGE BABCOCK & TELL HIM KIM THOMAS TOLD YOU TO CALL HIM HE WILL HELP YOU. 401-274-1905
Mr. Kop
If a Chpt 13 was dismissed due to non-payments to plan (because nothing was addressed about the fraudulent mortgage loan and the latest unrecorded loan owner) can the Chpt 13 be reopened and then the “bankruptcy case removal’ be accomplished with
a fraud/TILA complaint filed in Calif. State court?
Let me know if you can do something with this.
to floridadefenseteam–
in my case, the pretender lender, who is now in Chpt 11 BKR in Delaware, within just days of the closing on the loan used an MLSA ‘mortgage loan sale and servicing agreement’ to sell the loan to a subsidiary of Chase. This sale was kept from me and was not recorded at county recorder. I have learned that due to the MLSA, the original note & deed were physically given to a Document Custodian at Chase.
Then 5 months later, I received the letter about the new Servicer being Chase.
Never any mention of this MLSA until I obtained it. The pretender lender is NCM. One of the second largest subprime lenders.
Thus, more than likely, there is a document you need to obtain.
Foreclosure Litigants – Stumbled across a white paper titled “FAIR DEBT COLLECTIONS PRACTICES ACT
IN THE FORECLOSURE PROCESS” – early marching orders/warnings for FORECLOSURE ATTORNEY’s. This could be additional ammo if they failed to respond to your FDCPA Written Request to Validate the Debt. It would seem a Motion to Dismiss would be in order, Failure to Comply with FDCPA Request – research your argument, use case law that uses language like reversible error, trial judges f-e-a-r being overturned. If they cannot validate the debt they must cease collection, there is no amount owed and due, alternatively motion to strike complaint of amount due and owing and crush their case. Thoughts?
Here is the Link:
http://www.falrlaw.com/pdf/fdpca1.pdf
Maher, we routinely allege fraud in the execution as the vast majority of our clients were victims of the same. Ordinarily our clients’ loans were “closed” by mobile notaries who would show up with minutes to conclude the signing of loan documents. Borrowers were all but never given any opportunity to read and review the documents before signing. Rarely was a lender or licensed broker present. Instead the homeowner was assured prior to the mobile notary’s arrival that the documents contained the agreed upon terms. Since the industry sold its soul and decided it could alter California law by fiat and failed to advise our clients of the same, no one knew the “Deeds of Trust” they were being asked to sign were NOT consistent with California Deeds of Trust as the same have been defined since about 1855. We believe these purported “Deeds of Trust” were void ab initio as they were not what they purported to be i.e. California Deeds of Trust. We generally do not take cases unless there is good evidence the lender or mortgage broker engaged in fraudulent activites, made fraudulent misrepresentations or concealed material facts any of which would have resulted in our clients NOT concluding the transaction and signing the loan docs. Further, at least in CA, individuals licensed by the CA DRE absolutely have fiduciary duties to borrowers and there is little question these duties were routinely breached. Since the licensees were, in fact, the agents of the lenders the licensee’s bad acts can be imputed to the lender who PAID the broker thousands of dollars to incent them to breach their fiduciary duties.
We have approximately 12 cases at issue and approximately 45 that are in “demurrer limbo.” We also have 4 on appeal after demurrers to them were sustained without leave. Since the question of fraud in the execution is a question of fact and given the state of the law in CA as to pleading requirements vis-a-vis large organizations against whom fraud is alleged, we believe the appellate courts will reverse any decision that has precluded our clients from having their day in court based on what we view as an incorrect reading of CA pleading requirements.
Walter Hackett, Attorney at Law
OK, I’m not looking for some BS way to con the bank or anything like that. I just need a FAST answer how I can postpone the foreclosure for about 3-6 months if possible while I get back on my feet financially. Im in Wyoming, in foreclosure, sale is on 12 days and I cant get anywhere with the bank. I have very little income right now and the bank says I dont qualify for any modification program. What the hell can I do to buy some time? Ive read a few things about filing a Validation of Debt complaint and a couple of other things that seem a little far fetched to me. Can anyone shed some light if these types of arguments are worth pursuing? Do I have enough time to do it? Is there anything I can file with the bank or another agency to buy some time? Any help at all would be greatly appreciated!
I am sure they are willing to do back flips for me. However, when you commit a crime, you do the time.
Answer:
I spent two plus years with a law firm prior to this and learned a lot of legal ins and outs.
Using the “F” fraud word is a tough call. Obvious and willful negligence make parties accountable and perhaps willing to settle. …but Fraud allegations Ouch! ! ! Criminal component and directors and CEO will fight it out no matter how guilty to beat a fraud charge.
Lenders have no obligation to make you a good deal. Buyer be ware…but fraud is fraud. Go for it..
Good Luck
You are right, msoliman…. I do owe the money, just not to them. And they are the people who fraudulently increased my monthly income by $2000 more on the loan application after the fact, they are the ones who changed the guaranteed fixed rate to an ARM on the loan agreement after the fact, they are the ones who had contradicting loan amounts from the first page to the last page of the loan application for a difference of $30,000, they are the ones who changed the amount of my market value assets by $50,000 on the loan application. They are the ones who sold my note and did not record it. They are the ones who have collected over $100,000 from me in the past three years on a note they do not own.
And you say negotiate….. I think I have done enough of that. People broke the law here, and people failed to do what was legally their responsibility. And now, I need to negotiate with someone who does not own my note? Someone who fraudulently changed the information after the fact on my loan application and agreement? Since 2005 I have tried to negotiate with these crooks, no can do. But now that I know what I know… I am sure they are willing to do back flips for me. However, when you commit a crime, you do the time.
Time to fight back.
For those who are mired down in state courts, and may well face seeking bankruptcy relief anyways (e.g., no TRO/injunction)
You may be able to bounce the lender’s judicial action, or even your own state court action against the lender into a more favorable bankruptcy court forum by
“BANKRUPTCY CASE REMOVAL”
This is complex and not for the fainthearted or legal neophyte. An experienced BK attorney might get this done for you on a “limited scope of engagement” as is permitted by the USBC Central District of California, and others.
USDC actions may be “brought in” to a bankruptcy court as a “core proceeding” by a motion to refer to the USBC.
http://www.mdd.uscourts.gov/publications/forms/RemovalManual.pdf
http://www.jonesday.com/pubs/pubs_detail.aspx?pubID=S355
http://www.abiworld.org/committees/newsletters/litigation/vol5num6/basics.html
I am in Northern California for several days, possibly until early next week.
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
(310) 869-0269
Hello, A friend recently went to one of your seminars and called me regarding your website; here I am. I was wondering what is “Quiet Title”, how is it one gets it and what would be a plausible scenario to get it?
Thank You,
Richard R. West
Really deciding to try and fight my post-foreclosure. I won’t go through my long drawn out process of how i got where I am now (unless someone needs me to in order to answer my quesiton)…but i’m trying to decide if i should pay lawyers to fight this.
My sale actually took place on July 7, 2009. On the day of my sale, after my year long battle with my Lender in trying to get a modification failed. My lender said, “he tried to get my sale postponed but could not reach the ‘investor’ in time to do so. And that he would work on a “revert of sale”. Frantic, i thought well this could be turned around perhaps…i was to call by the end of the week. I called and he said he had no answer yet. The next week I called, and he asked that I send our updated financial information and asked how much could we pay in aerrages? And that this would be key in figuring out what could be done. I told him to just give me a number to see if we could work something out (he said we owed 25,000 ) and i said of course i could not pay all of that, but perhaps half. He said he’d call back. Of course, i did all of the calling and he never followed through.
Fast forward to now, i’m trying to fight off eviciton by having an audit done on my loan. Which revealed that my Lender who is known to be a servicing company and generally not in the habit of purchasing loans, did not have my loan on the 3rd of June when they initiated the foreclosure but MERS did. And that my Lender supposedly purchased it weeks later on the 23rd! What does this mean?
And the crazy part, they haven’t even taken the time to take my name off the deed at the courthouse, it looks like we are still the rightful owners!! I’m just so confused.
I want to know should i go forward with these attorneys who is going to cost me a pretty penny, but seem genuinely excited to try this case.
Do you guys think i have a shot, or should i just pack up and walk away now, and save my money? ANY thoughts would be greatly apprecaited.
Can anyone out there shed some light – How is mortgage note/security transferred (conveyed) from a defunct mortgage company to the new absorbing bank (For example Long Beach Mortgage to Washington Mutual)? Does it require a formal assignment of note/ mortgage or Successor-in-Interest status can be acquired in some other fashion? Thanks!
Now the U.S. Secretary of the Treasury is being sued:
http://www.hppinc.org/_uls/resources/HAMP_PI_Memo.pdf
Burn, Geitner, burn…
This case is a good example of what Maher is talking about:
TILA case brought in an Adversary Proceeding in a Chapter 13 Bankruptcy.
The judge did what the bankers fear: Unsecured claim in the amount of $142K +
http://thepatriotswar.com/wp-content/uploads/jaaskelainen-v-wells-fargo-adversary-proceeding-in-a-rescission.pdf
Stop with the ….”the home would be free and clear”
Equitable distribution and mutual exchange of consideration are elements of properly reconciling the problems many of you are communicating here.You made the note and they provided the money. No court of law is going to settle a dispute by awarding you a home (outside of a damages phase, jury trial, Lawrence of Arabia, Perry Mason, Judge Judy and blah blah…)
GIBBERISH! Its embarrassing – really! This is true especially for a DOCUMENT technicality or “Planet MERS” violation.
NO WAY . . . . Key in my opinion is =
1) Acknowledge the obligation “I signed the note and I owe the money (honey)” .
2) Challenge lender standing for enforcing a recorded lien, especially in a “Power of Sale” state like CA, WA, AZ OR.
3) seek to split the lien from the obligation due to lack of standing.
It is a great argument brought in an adversary hearing. Bankers do not fear you taking the home back. They do fear a BK judge stripping the obligation from the lien and making the note unsecured.
MSoliman
File an adversary proceeding.
Karl Kop Esq (not many BK lawyers will even mess with it!)
Foreclosure Rescission:
Lender will carry the new loan at 4% fixed for forty years as an offer in compromise.
Professional in OC
Practitioner? Para Legal? Accountant? Mechanic?
wanna hear my story???
June 2005 refinance home. Have had nothing but trouble ever since.
June 2009 HSBC Bank files a complaint for foreclosure on our home. Apparently unbeknownst to me, our loan was sold to them shortly after being closed on with Fremont. Within a few months from what I understand. HOWEVER….. there is no assignment filed on record anywhere and neither does MERS have anything on file pertaining to my property address, name, or SS#. So I have filed for a dismissal on the grounds of no legal standing for filing foreclosure. Once I receive (if I receive dismissal) I will file for a quiet title action. The loan was sold, there is no record anywhere of who owns it.
Now this is where it gets even more interesting to me; and I was hoping someone could shed some light on this for me as I am not aware of how these type things can happen in mid stream….
Ok, lets roll back in time… May 2005 had a loan application completed with Fidelity Mortgage Direct for a $200,000 refinance at a fixed rate for 30 years. I have the copies of the original loan application, the good faith estimate, etc etc etc. I have contacted the Title company that closed on the above loan with Fremont in June 2005. Ok…. the first three pages of the loan application they have on file reflects a ARM at 8.3% with a loan amount of $170,000 and market value of assets at $200,000 ($50,000 less than on our copy), our income at $2000 more than what is on our copies of our loan applications, and the bottom of all three pages are cutoff not showing our signatures. Now the fourth page matches our fourth page showing a loan amount of $200,000. How can that be? The first three pages totally contradict what the last page list…. but also contradicts our loan application documents all together. Those four pages were faxed to the title company on June 27, 2005. Loan disbursements were made on June 29, 2005. Now, how can a fixed rate loan go to a ARM? $200,00 go to $170,000 but the last page of the application says the $200,000? And the list goes on. Needless to say the fellow who worked our loan application and faxed it to the title company no longer works there. Hmmm. Any comments?
Are there any lawyers that “get it” in New England? I am in RI and need help! I am dealing with Wells Fargo and American Home Mortgage Servicing, Inc. They are telling us that they are willing to rescind on the foreclosure, as long as we can find alternative funding. They are giving us a time limit of 45 days and I’m not sure what to do now. How can they say that and expect that from us? Please help me!
Cheryl,
I usually just read these posts but am moved by your determination.
There’s a link at the top of this page called “lawyers that get it 060409″. That is a pdf file that lists attorneys that supposedly “get it.” However, as a paralegal I have met a few on that list that don’t get it. So be sure to interview them, make sure they are aggressive and will take action on your behalf. I have also heard that some attorneys charge a boatload of retainer fees and thereby push helpless and suffering homeowners away. Be sure to ask them if you can make payments to them etc. There are 3 attorneys in Ohio on that list.
You can definitely sue Hong Kong Shanghai Bank Corporation and there will be many that will be glad you did. However, you do need an attorney that is familiar with your state’s statutes and courts to navigate you through the complexities of the court.
Good luck. You are an inspiration. I would also like to know who sent you that letter.
Linda Kaye
Advanced Paralegal Service
http://www.advancedparalegalservice.com
Cheryl,
First off… who sent you the letter stating the validity?
If what you say is true…
TIME FOR A “QUIET TITLE” ACTION! GET THE HOME FIRST!
Then look into the possibilities of damages.
Have your Mortgage and Noted Audited immediately to see about violations.
BEST OF LUCK!
JD
This is to Neil Garfield, I have been fighting tooth and nail with my mortgage company since August of 2007. It will be two years next month. I’ve come close to packing my family up on several occasions only to stay because something happens to keep me here. Through prayer I have stayed put in my home because there is always a new door that opens and finally has led me to this website. I don’t know how I found this website but Im sure that is another open door and hopefully the final curtain call. I need your help as to what my final step is because I am sure this is where Im going to find my final resolution. I received the letter on July 29, 2009 stating that my mortgage note was invalid, that there is no record that the Plaintiff HSBC BANK has standing to foreclose on my property. I need to know do I have a lawsuit against the bank? Can my house become free and clear? What should my next step be?. Just sitting and waiting is making me nervous and I feel as though I should be doing something because I DO NOT TRUST what they may try to do. I have thought about what James said about not excepting a mod from them, or any negotiations at all. I feel that everything has took a 360 degree turn in my favor but I have to move forward the right way whatever that is. Please, Please, Please give me some advice.
Im in Cleveland, Ohio , an attorney referral would be greatly appreciated. Thank You in advance.
Cheryl
is there any professionals located in Orange County CA?
QUIET TITLE
“Is there a lawsuit there where the home would be free and clear”
shhh YOU’LL MISS THE “QUIET TITLE ACTION” SCENE TO THIS POST
Cheryl YOU ARE IN A GOOD LEVERAGE POSITION DO NOT LOSE THAT POSITION BY ENTERING INTO A LOAN MOD WHICH EXTINQUISHES ALL YOUR RIGHTS (A FIRST STEP REQUIREMNET OF THE PROCESS) & THEY ALWAYS SOME HOW COME BACK TO TELL YOU AFTER ALL THAT BUILT UP HOPE THAT THE INVESTOR DENIED THE MOD & THEY’RE SORRY ( BUT THANKS FOR THROWING YOUR RIGHTS AWAY NOW THIS WILL BE MUCH EASIER) IS WHAT THEY’RE PROBABLY THINKING.
I have a response from the judge stating that there is no evidence that MERS had authority to assign my mortgage and note to HSBC Bank. The purported Assignment and Allonge are dated after the closing date of the home equity loan trust under which HSBC BANK claims ownership and immediately before filing the foreclosure action. The Allonge is invalid, as it was not entered on the original note nor so firmly affixed to the instrument as to become an extension or part of it. Please give me advice as to what this could mean regarding my loan. Where do I go from here?????????????????
I need help PLEASE!!!!!!!!!!!!!!!!!!!!
I am in need of information regarding an allonge. It was not attached, does this mean that the loan is invalid? Is there a lawsuit there where the home would be free and clear. The mortgager has been very uncooperative in modifying the loan. HELPPPPPPPP!!!!!!!!!!!!!!!!!!!!!!!!!!!!
isnt it obvious that they [lender/$$] are cleaning [or fabricating] the chain of title by sale!??
1- new owner..[straw man]
2- new docs [ find the payment trail you get$$$$]
3- this step may wait till a bona-fide new owner – [not bankster] recording @ county recorders
4- this has to stop!
Does anyone know specifics about a HELOC loan?
General info:
1. HELOC is a second loan and a different bank then the first loan. This is recorded as a second mortgage on the my property.
2. There is no promissory note that I signed, nor was this an omission by the lender. There is no language specific to a “promise to pay”, nor a specific note, only an agreement.
3. The agreement I signed is captioned “Home Equity Line of Credit Mortgage.”
4. Specific language in the agreement states; “You and we covenant and agree as follows: Payment of indebtedness. Borrower shall promptly pay when due the indebtedness secured by this mortgage including without limitation , that evidenced by the agreement. ” This is the exact verbatim, word for word.
5. Property is in a judicial foreclosure state.
6. NCLC foreclosure book states that an open-ended loan(which this is) cannot be a negotiable instrument because it doesn’t meet the criteria of Article 3 of the UCC’s definition of negotiable instrument.
7. Neil G seems to agree.
8. The agreement was securitized into a HELOC only trust – the same process as a fixed amount standard mortgage. Except the word “note” is replaced with the word
‘agreement.”
Since the security for the mortgage is the property, do standard foreclosure procedures apply upon non payment of the indebtedness?
And, is this a perfected security interest? Are Article 3 and 9 applicable, or is Article 8? There are no UCC 1’s filled on me.
Any theories or case law would be greatly appreciated.
My email address. WildOneTom@live.com
thanks,
Tom
The buyer of the home regardless of the “who” it is, Saxon, GMAC, your neighbor-..they all must pay the property taxes. But some lenders are recovering the property and making good on the insurance claims.
Then thy let it go to a foreclsoure or city repossession for failure to pay the tax man. They were made whole so…
Cloud on title or Notice of Pendency makes the property uninsurable.
Good luck.
MSoliman
admin@borrowerhotline.com
to all- no one answered my question of 7/22, which was: when a home is foreclosed on and subsequently auctioned off, if the “lender” buys it at auction, do they pay transfer (sales tax) or do they already own it or what? If I buy a home, I pay transfer tax, at least here in Pa. And can someone explain how the cloud on title due to the incomplete chain of assignment or whatever eliminates bidders other than the “lender” and if the foreclosure mill bids, it is an illegal not-arms-length transaction? thanks-
Quote:
Author: Fight Foreclosure
Comment:
James D, were you on title for the home??
What you wrote didn’t give us very good direction, breathe, calm down and be specific please
End quote.
Hey FF,
Forgive me if I don’t calm down and breath. It is apparent you are possibly fairly new to this site as I have posted numerous times regarding my case.
Florida law requires both parties in a marriage to “Be on Deed or Title.” So the short answer is yes. I am not going to trudge through all the emotions by rewriting everything I have been through… but I imagine I will have to.
Short story:
Me: Work from home( specialized industry). No home, no work.
Perfect payment loan, note in wife’s name, mortgage with both parties and both listed on Title. Wife disappears 5 months prior to refi time. Bank refuses to do business with spouse (ME) when the ways and means were available for refi. Interest rate changes, all savings depleted (because what else am I supposed to do, it’s my home I have to pay.).
Bank still refuses to do business with spouse, forecloses Judge refuses “layman’s pleadings” because they were not in “Motion” form. Foreclosure sale momentarily stopped by a filing of Chptr 11. (Don’t ask). New sale date, bank buys back home at auction, sells home to someone else.
Attend Neils seminar in Ft. Lauderdale ( he sees considerable damages are possible). Neil pleads for local attorney to take case on partial contingency with his (NG) assistance. Attorneys Andrew Tarr, and Elsa Figuerdas step up. Elsa shows promise but inevitably wishes to wait for Tarrs involvement due to the inability to contact Neil , as she just couldn’t wrap her head around Neils defenses. Andrew sits on his hands for 6 months before he looks at the court file. Decides he has no idea how to proceed (wink wink).
As of today…
Business has been destroyed, homeless, forced to have son live with his mother (1st marriage).
So please hold your calm down crap. Fortunately you have found a niche feeding off the despair of others. From what I have witnessed first hand, VERY FEW, of the attorneys here actually PUT UP A FIGHT for their clients. Most have done nothing but set up foreclosure mills that bilk the clients out of monthly fees only to act as refi agents and then charge additional fees for doing so. Shame on you all.
Best wishes,
JD
p.s.
My apologies to Neil Garfield for my rant. I am more than sure if the logistical circumstances were right (as he said) he would have taken the case himself. As a matter of fact it was Neil who personally helped me to prolong my case as long as I did. Unfortunately I had found him a little too late in the process.
By the way all of us who do not speak msolimonese (lol)
Federal Savings Bank (FSB)
Is a savings bank, chartered and supervised by the Office of Thrift Supervision. Federal savings banks, designated by the letters FSB or FA in an institution’s name, were authorized by a 1978 amendment to the Home Owners’ Loan Act of 1933. Federal savings banks can put up to 10% of assets in commercial, business, or agricultural loans, and can be chartered as mutual or stockholder-owned institutions.
James D, were you on title for the home??
What you wrote didn’t give us very good direction, breathe, calm down and be specific please
msoliman – this happens every single week.
for everyone else, I have to ask this question to see if anyone knows Texas laws or if there is some way for the woman I spoke of earlier to get someone’s house back. Evidently, the lawyers in Texas are too important to call people back to answer a simple question. The sheriff is asleep and the fox is raiding the hen house!
Here’s the scenario: The house is in North Texas and she has lived there 27 years. According to her she only owed about 4500 on it yet. She had gone to NY to stay with her mother who is 101, came back to her house and noticed that her check that she had sent to them for 3100 had been returned. She called up Aurora and they told her that her house was already auctioned off on the 7th of July.
I spoke with the guy that bought it and he is already in there ripping out walls. He bought it off the court house steps. There were no taxes owed on it.
This woman wants to get that house back for the woman homeowner. Thoughts? Ideas?
“Case in point, a woman I know buys property back at the courthouse auctions and then gives it back to the homeowner in a refinance situation, with zero interest, and then the homeowner gets their home back”
that’s what the government should have BEEN doing, and their CLEAR inaction is reason enough to petition for redress in addition to their priorities being spending more of our money giving themselves raises wile legisislation to curb prdetory lending and increase consumer protection sits on the backburner
this crisis has turned into one big MONOPOLY GAME
LKaye;
To think we have information we (some) can share like this that is positive. (Nice site by the way).
Lets talk …discuss obtaining affidavits from these victims for various lawyers and potetial new allegations of verifiable fraud….Huge Huge Huge…!
Funny, had a client who recived a cash for keys offer one hour before sale. (posted to door). The name of the party offering the cash for keys was an LLC.
It was the same LLC (entity) who purchased the home one hour later at sale.
MSoliman
admin@borrowerhotline.com
I agree with Soliman. This is what we are seeing quite a bit of as well. The lender forecloses and then buys the property on the courthouse steps. They send reps from the foreclosure mill attorney law firms and they outbid other buyers. Case in point, a woman I know buys property back at the courthouse auctions and then gives it back to the homeowner in a refinance situation, with zero interest, and then the homeowner gets their home back. It’s her thing, don’t ask. The issue she talked to me about was that she noticed that each week at the auction sales, the court clerk reads off the sales a mile a minute, and half are recalled and the other half are outbid by the lender representatives who are the foreclosure mill attorneys that purchase it and then sign it over to the lender. It frustrates her because she is trying to help homeowners and is outbid many times. Those foreclosure mills must be getting a sweet payment from the lenders for doing that deceitful thing.
L. Kaye
Advanced Paralegal Service
“A”. . . MERS can NEVER EVER be the mortgagee, no matter what!!!!
Close….real close….The real holder in due course is the FSB ……and the FSB can NEVER EVER be the mortgagee, no matter what!!!! (You would bankrupt the world twice over….
If a nominee can hold one Billion in Saudi controlled US stock …then why cannot MERS hold a home….for a whole 12 seconds (hint hint)
Its all a subsequent event in a liquidation anyway!
admin@borrowerhotline.com
msoliman@borrowerhotline.com
Ian
It’s a joke! Really! CW now B of A promised a short sale to a buyer ….they just needed more time (yeah- 3 mos time to sell a distressed property at 85% of the principal balance)…..right!
Night of the sale CW claims Short sale is a go…don’t worry (be happy).
Realtor (a client) and borrower don’t believe it.
So… they go to the courthouse steps…..Now stay with me .Okay!
There…on the steps….shows up another guy with cashiers check in hand. He’s ready to bid a number just a few bones higher than Realtor/client duo! Such is life they say….is it a plant?
So all’s fair and ends fair right! WRONG! ! !
County clerk not only calls out the sale, …..the County fool calling out the sale information then “RUNS BACK INTO THE BUILDING IMMEIDIATLEY AFTER CALLING OUT THE PROPERTY….”
We have three witnesses of which is a neutral third party. In the old days (when I got started) they property ALWAYS transferred back to the Lender (party holding the security). WAZZZZZZ Up! Now they conduct a sale (? %$#?&*) . Why….
1) FAS FAP 140-3 controlled asset prohibition forbids a reconveyance to a seller.
2) They establish an open market acquisition (GAAP)
3) Insurance — MI insurance —OC insurance —- (MI AIG).
It’s a joke….But it won’t last much longer. Move now or else…once the truth hits 60 Minutes, Nightline or COPS – the “claim game” for homeowners is over!
– - – - That when you see GOVERNEMENT involvement rear its head again…..It’s called “Pre-emption…”
MSoliman
Mortgagelies
NLS admin@borrowerhotline.com
It’s a joke! Really!
Ian
It’s a joke! Really! CW now BofA promised a short sale to a buyer ….they just needed more time (yeah- 3 mos time to sell a distressed property at 85% of the principal balance)…..right!
Night of the sale CW claims Short sale is a go…don’t worry (be happy).
Realtor (a client) and borrower don’t believe it.
So… they go to the courthouse steps…..Now stay with me .Okay!
There…on the steps….shows up another guy with cashiers check in hand. He’s ready to bid a number just a few bones higher than Realtor/client duo! Such is life they say….is it a plant?
So all’s fair and ends fair right! WRONG! ! !
County clerk not only calls out the sale, …..the County fool calling out the sale information then “RUNS BACK INTO THE BUILDING IMMEIDIATLEY AFTER CALLING OUT THE PROPERTY….”
We have three witnesses of which is a neutral third party. In the old days (when I got started) they property ALWAYS transferred back to the Lender (party holding the security). WAZZZZZZ Up! Now they conduct a sale (? %$#?&*) . Why….
1) FAS FAP 140-3 controlled asset prohibition forbids a reconveyance to a seller.
2) They establish an open market acquisition (GAAP)
3) Insurance — MI insurance —OC insurance —- (MI AIG).
It’s a joke….But it won’t last much longer. Move now or else…once the truth hits 60 Minutes, Nightline or COPS – the “claim game” for homeowners is over!
– - – - That when you see GOVERNEMENT involvement rear its head again…..It’s called “Pre-emption…”
MSoliman
Mortgagelies
NLS admin@borrwerhotline.com
It’s a joke! Really!
look at how the fed has changed the laws there were never reverse mortgages before all this, sec & the many other 3 letter organization claiming to be a bureau… hud housing urban developement sounds like kick everybody outta their homes so we can tear them down so we can build projects & sell them to china & bank off of every part of the trans:action/ission from the fake regulators protecting everone but the consumer to all the money they win from gambling with our money(&property what do you think bernanke used as collateral)that they took without permission & won’t give back or provide satisfactory compensation some thing that our constitution guarantees.
I have become disgusted with what is happening in this field. After already losing my house after 2 years of perfect payments and the bank refusing to deal with me because my wife vanished and it was in her name. I was on the mortgage and thought I had rights. Apparently I was mistaken.
I tried helping a few others in crisis only to find out that after being referred to “SO-CALLED” lawyers who get it, that the firms are basically taking monthly payments to “PRO-LONG” the action. It seems the firms are more in bed with the lenders claiming to fight when they are ultimately acting as refi representatives and charging big fees for the refi negotiations. Needless to say they are not to happy with my referrals.
GREED SHALL BE THE DEMISE OF ALL OF YOU!
Yeah I’m pissed. You would be to if someone promised to help you then F*** you over.
Take it to the streets people!
Best wishes.
JD
To Neil,msoliman,or Alina-here is a question and a comment- I am having trouble understanding what happens when a foreclosed property is auctioned, or when it just goes back to the “lender”. When someone,anyone,buys it at auction, they pay a real estate transfer tax, just like any other sale, right? If the “lender” buys it at auction, do they pay a transfer tax? When a “lender” takes the property back, are they in effect buying it, or do they already own it? This situation with MERS where nobody anywhere knows how many times the property, not just the note, has been sold, is this an end run around not only filing fees but also transfer(sales)tax on trillions of dollars worth of property?Does anyone know?
Please are there any lawyers that get it here in TX (Dallas) speificlly. Any Lawyers that still understands that they are a student and should be all ways learning and growing. If so please contact us via email at amunreeb9@hotmail.com We are still in our home after fighting them for over three years after the so called fraudulant foreclosure sale done under the color of law. we would like to close this matter. Peace and Blessings to all
Don,
that is what I am getting at. I am beginning to really see now as I disseminate the closing documents. I was having trouble understanding the whole securitization process.
the keys are in the terminology!!! disseminate your closing documents. take them apart word by word.
Alina
Alina:
How about the term “securities fraud”
Here is some word play to contemplate:
mortgagee – “lender in a mortgage agreement” or “the person or organization that lends money for a home.” MERS can NEVER EVER be the mortgagee, no matter what!!!!
nominee – “Entity (the registered owner) in whose name securities or other assets are recorded and held under a custodial agreement with the actual owner (called beneficial owner). Such arrangements are used where the beneficial owner is abroad, wishes to conceal his or her identity, or to facilitate a trade or collection of income from several securities.”
IMHO, the very terms used in a mortgage document clearly reflect that these are not real estate transactions but rather securities transactions.
thoughts from anyone?
The mortgage company that is trying to foreclose on my house (Let’s call it XX) saying that they have an assignment from MERS (signed by the vice-president of XX as vice-president of MERS), is listed as the original servicer in the MERS system. Now, I did not sign any loans documents with XX, and the company that I did use for the loan does not appear in this list. So, if the original loan went to XX, they are not listed in the TILA documents. Isn’t this a TILA violation?
to RagingLou,
My one comment stems from the fact that you base your opinions on information from Lender Processing Services, Inc. This company has been under investigation for various misrepresentations in courts. You really cannot rely on any information provided by them.
Please research LPS.
Alina
I was on the broker side of the business. There was a lot of B.S. going on form the wholesale side which drove this train wreck
The brokers were about 67% of the new loans being processed, this from a complaint about brokers by Wells Fargo about the time that Congress was pushing them regarding high fees and costs and to eliminate YSP and increase RESPA standards.The goal was to eliminate the brokers (which has basically happened) and push the blame on a 3rd party to avoid scrutiny!
The thrust of the broker business was driven by the wholesale side of the lenders who were throwing huge incentive’s for the brokers (including so called correspondent lenders) to do Option Arms and Stated Deals. ie: Pedros Lawn Service making $18,000 per month for a 500k home
They KNEW that these deals would NEVER last and that a refinance with new fees etc would happen within 5 years. Actually in their memos and my conversations with wholesale and secondary, they projected each loan to refinance in 2 to 3 years
The key as I wrote on my blog “wall street knew” they were pushing lenders for volume and for the underwriters to approve deals that NEVER should have been approved!
I personally watched an underwriter approve some deals that were ABSURD.
But hey, they were still a part of thos AAA rated bonds, right?
Thank goodness congress was aware LOL and also remember “Homeownership is a Right” according to our fearless leaders, Fannie and Freddie were “rock Solid”
We have all been duped. This site gives ALL of us the ability to find the fraud. We all need to keep on informing the public to “Question Everything” as Neil suggests us to!
Much Success to ALL of US!
to RagingLou- your comments are based on the available data you are swallowing hook,line and sinker,but rather than linking the foreclosures to the property values’ negative equity, you should instead concentrate on how we got to this point. That is the purpose of this website and its’ participants. In the heat of this nightmare, if a home sold for 200k in say July of 06, and a mortgage broker needed an appraisal of 250k in order to sell it to the next buyer or refinance it, they leaned on the broker to bloat the appraisal up. When the mortgage broker then needed to falsify the borrower’s income in order to make the loan “work” and to earn their commissions, they then submitted forged documents to the underwriter, who never looked at the documents. In addition, they also loaded the buyer up with every junk charge imagineable, often using nonexistent notaries to further falsify everthing. From there the securitizers deceived the investors into purchasing these bogus loans under the AAA rating, which was a further breach of fiduciary duty and illegal as well. Multiply this by millions of loans and you have the rough outline of why we are where we are. The negative equity aspect of this is a byproduct of what was done, not the reason. If you really want to have some fun, go to your county courthouse, write down the most recent foreclosures which have taken place, they go to the recorders’ office and look at the chain of assignment for each of these foreclosures. You will see in most cases that the entitiies which foreclosed on the properties had no standing to do so, they probably aren’t listed anywhere. In other words, according to the FBI financial crimes unit, the foreclosures were illegal. (46% and rising in Florida alone) Furthermore, the “liar loans” moniker is misleading, I would surmise that most liar loans were made by the mortgage brokers in connection with the appraisers, the borrowers weren’t the ones who were lying. Don’t believe anything in the mainstream press. Nothing. The profitability of the securitization process drove the entire real estate “boom” . Figure 2000 mortgages in a pool, at an avg. fee of $80,000 per mortgage, that is $160million in fees for some paperwork, sure these guys have overhead, but multiply this by millions and millions of mortgaes and you see the money involved.
Forgive me, I’m not a Lawyer and I’m having my share of problems here in Indiana but I received the info below and thought it was pertinent to this blog, and maybe it could be useful.
What is really behind the mushrooming rate of mortgage foreclosures since 2007? The evidence from a huge national database containing millions of individual loans strongly suggests that the single most important factor is whether the homeowner has negative equity in a house — that is, the balance of the mortgage is greater than the value of the house. This means that most government policies being discussed to remedy woes in the housing market are misdirected.
Many policy makers and ordinary people blame the rise of foreclosures squarely on subprime mortgage lenders who presumably misled borrowers into taking out complex loans at low initial interest rates. Those hapless individuals were then supposedly unable to make the higher monthly payments when their mortgage rates reset upwards.
But the focus on subprimes ignores the widely available industry facts (reported by the Mortgage Bankers Association) that 51% of all foreclosed homes had prime loans, not subprime, and that the foreclosure rate for prime loans grew by 488% compared to a growth rate of 200% for subprime foreclosures. (These percentages are based on the period since the steep ascent in foreclosures began — the third quarter of 2006 — during which more than 4.3 million homes went into foreclosure.)
Sharing the blame in the popular imagination are other loans where lenders were largely at fault — such as “liar loans,” where lenders never attempted to validate a borrower’s income or assets.
This common narrative also appears to be wrong, a conclusion that is based on my analysis of loan-level data from McDash Analytics, a component of Lender Processing Services Inc. It is the largest loan-level data source available, covering more than 30 million mortgages.
Mr Garfield
I sent your comments to my lawyer and asked him to consider quite title.
thanks
Comment: “They don’t even have your accounting records so how could they possibly be the owner of the note or debt”
I could not resist. What it is you’re talking about is huge. Sorry MERS debate team. Accrual accounting is used to establish your basis in the asset. What is basis.
Your basis = Holder in Due Course.
In an effort to remain short and to the point here I will post more information in detail (it does not set up in this message box) on line at:
http://www.foreclosureinfosearch.com
msoliman@borrowerhotline.com
If I did not sign my mortgage documents is the mortgage enforceable against me in equity or maybe by assent?
This is going to make you vomit…Wall Street was handed 24 Trillion dollars…when did that bill get passed?
Is this not a tax on the American people without representation?
The Federal Reserve says they don’t have to tell us who they are giving money to, claiming to be exempt from Congressional oversight and are a private organization….
http://www.foxnews.com/politics/2009/07/20/watchdog-financial-bailout-support-reach-trillion/
Alina don’t let them know that you know this. that way you have ammo if you need to go to court & prove they don’t even have your accounting records so how could they possibly be the owner of the note or debt
I have just realized that the date of rate change on my Note is one month off. The date is also different from the date on the TIL, which is the correct date. I don’t know how I missed this before. I thought something was a little off when I received the first rate change in May 2007. I questioned the servicer about this only to be told that they sent the rate change correctly.
Now I need to go back to the rate change notices I received and analyze them in more detail.
Any suggestions?
Alina
Author: Livinglies
Comments:
NG Said: Lawyers: “There are thousands of cases out there where the homeowner is in limbo. They are all potential clients for quiet title and quite possibly damage actions. Lots of potential for good fee income based upon results.”
Comments: My hunch is to include the ALTA and move on the title insurer – argue the lack of any holder in due course.
Neil, a quite title action ….its something attorneys actually argue against (my experience last minute) …but I agree, I do not understand it.
Mswallowman (lol) it’s all good!
Borrowerhotline.com
Neil: more breadcrumbs ~~
“USAP” UNIFORM SINGLE ATTESTATION PROGRAM
by Mortgage Bankers Association for CMBS and private label securitized residential mortgage pools.
Again, SERVICING standards appears to be the key to the BIG LIES OF WALL STREET !!!! Section 1122 of Reg AB (SEC) see especially (d)(1).
How does that translate to the borrower? (standing to sue).
At this point, Neil, I have concluded, IMHO, that the cause of action for “tortious interference with economic advantage” lies based upon the theory of the case that
HAD THE SERVICERS COMPLIED WITH Sec 1122 Reg AB (search SECinfo for Countrywide, BofA, WaMu, etc. final audit reports for servicing compliance), the true note holders (HDCs) would have gone direct to the borrower to work out a “meaningful loan modification” (cf IRC definition) that would have been mutually beneficial to both borrow and investor rather than allow the “middlemen/organizers” to rape the homeowners by causing the deepest asset losses in foreclosure and post foreclosures, with the economic motivation of reaping immediate liquidity through title insurance claims (search First American Title Ins. Co. and other title company sites).
Neil, I believe MSoliman and I are getting oh so close. What say you?
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
http:newdawnlaw.blogspot.com
(if I dont respond immediately, keep emailing me until I do)
James#: Cases in “limbo” should probably be followed up with a lawsuit to quiet title. Several people have had success — to the point where in one case a multimillion dollar house with a multimillion dollar mortgage resulted in clear and marketable title to the homeowner without the encumbrance of the mortgage and with no payments, note or other obligation. LAWYERS: THERE ARE THOUSANDS OF CASES OUT THERE WHERE THE HOMEOWNER IS IN LIMBO. THEY ARE ALL POTENTIAL CLIENTS FOR QUIET TITLE AND QUITE POSSIBLY DAMAGE ACTIONS. LOTS OF POTENTIAL FOR GOOD FEE INCOME BASED UPON RESULTS.
For people who have been coming to this site for a while I’d like to give you an update on a real good guy. Mario Kenny is doing good he works for a Foreclosure Defense over there in Florida and we or I at least would like commemorate him for the hard work, struggle & passion that he shares with us.
Wow even though 2 people stuck up for $wallowman he apparently has nothing to say in his own defense. Default
what state are you in sue & was it state or federal court?
floridadefenteam, good question,
I often wonder how many out there using this site. I have referred 6 people to the site.
One hired a lawyer, she has two houses. She never visits the site, her case like most is in limbo.
One guy, a Harvard graduate, went to a law library for several days, downloaded documents and filed pro se and hasn’t been back to the site since.
Another person borrowed money from his family and is trying to stay current, he never came back to the site.
Another, who read the site for weeks, but was told by a lawyer it was a waste of time to fight, so he is pursuing a short sale, with no success.
A Real Estate agent, who is so stuck in the system, she thinks it is useless to fight the big bad banks, she is going the bankruptcy route.
My daughter who was so upside down she didn’t want to fight the foreclosure.
Two for Six. Without this site I don’t think I could have convinced anyone to fight. Thanks Neil.
I hired a lawyer, My case is in a motion to compel discovery. My case has been in limo for 9 months. i read the site everyday but rarely post.
BOA (Countrywide mortgage) stole house–Judge would not sign TRO (had on desk 2 weeks)–at last hour requested full mortgage payment for bond to sign TRO–has anyone heard of this before?–I would like to stop the judge from doing this to others–What to do?
ATTN: FLORIDA PRO SE Litigants (and those with inept Attorneys) APRIL CHARNEY ESQ –
The Queen of Foreclosure Defense has posted an excellent PRO SE FORECLOSURE DEFENSE Manual and its posted online at:
http://www.msfraud.org/LAW/Lounge/BasicForeclosureLitigationDefenseManual.pdf
BTW – I thought this forum was for the open exchange of ideas, best practices, and tactics to defeat the one common enemy. Since I don’t see these postings or a sense of urgency and I’m a Glass Half Full kind of person am I to infer:
1) Litigants are getting their cases dismissed and not coming back to this website and sharing their stories
2) There is no case movement behind a huge backlog of non prosecutable cases that will be eventually be dismissed
SB
Florida Defense Team
(772) 403-3897
fwiw
i posted
“m soliman….
my… what a huge hammer you wield !
so let me thank you for that ” concise & well explained ”
post 6-19-09 re; QSPE”
i like his posts [ yes i can easily read & assimilate the info ]
typos & gibberish ? ? ha! – read between the lines!
i’ve only spoke to m soliman by phone 1 time & a few emails. he was very straight up with me .
more importantly tho he has been an invaluable asset for info on this site.
I will not start a debate or flame war about another’s intentions or actions you or i have no 1st hand knowledge of,attacks , rumors , unfounded accusations here only digress and or detract from the search we are all doing.
i understand about being burned .. i will NOT put my trust solely on
another person to rescue me paid or not.
myself & everyone at this site is under duress that only ads to the frustration & despair brought on by this $$ mess.
thanks again
neil & everyone else here
I also post on this site as James, and would like to disassociate myself from the comments made by “James” I do not have the same considerations of msolimans. I think he has a grasp of Securities adn Finance that is valuable in fighting off foreclosures. When I try I have been able to understand some of his post by looking up the Financial terms.A lot of it is about the definitions of the words. I would say it is difficult to simplify the subject as the nomenclature defines the subject and it would be difficult to write a post without the post becoming a dictionary. I understand that there is a feud going on and some people here are choosing sides, maybe with good reason. But for me the Jury is out.
Ohhhhh, I second that. Damn… Truth hit that one dead on the money. Rumor is @ MSFraud yur all about that buck that Truth was talking about & you’ve even said yurself that you’ve thrown people out of their homes before so my guess is $cam Arti$t M. $wallowmon
Maher Soliman
Those are some nice self agrandizing posts you made promoting yourself. Don’t you know that the regular readers here can see that your “mortgagelies” handle is a new one you created but tracks back to you…..duh.
Your crediblility is waning here and as others(most notably Allan) have posted and tried to provide you constructive feedback, many of your posts come off as unintelligible gibberish.
Think about it, aside from the Pro Se litigants most of the lawyers that frequent the blog here don’t even have an undergrad in a business discipline let alone an MBA that could decipher some of your drivel. You seem like you have ADHD and are either trying to be part of the solution but don’t realize the audience you are speaking to when posting …OR….you are just another scam artist looking to make a buck. WHICH IS IT?
Will the real Maher Soliman please stand up
Truth
Since there is no lawyer in New Mexico that is listed as ,”That gets it” IS THERE A FEDERAL LAWYER that can practice in NM? My preliminary forensic audit fits and qualifies , TILA and Good Faith, that is just the start Please email me .
I just want to said Big Thanks to Maher Soliman who helping me to get out from Lending Sharks.He is always there for me and I am folowing his advice in correspondence with lenders.
m soliman….
my… what a huge hammer you wield !
so let me thank you for that ” concise & well explained ”
post 6-19-09 re; QSPE
BC400576. Filed at Stanley Mosk, downtown LA. Copies can be downloaded, for a fee, from the court’s website at http://www.lasuperiourcourt.org.
Walter
National Banks (N.A.) can sue in the State of California without being registered in the state.
I can tell you what attorneys are charging in California.
Most of them want $5-6,500 up front and then $1,000 per month (with no end date) to work on pre-foreclosure cases…..$15,000 plus monthly for post-foreclosure cases.
I know one attorney has over 200 cases at once…meaning he is making $200,000 per month excluding all the initial retainers. That is over 2.4 million per year!!
Another attorney has 500 cases. He has a hugh staff, but seems to be ineffective in preventing foreclosure and eviction.
Mr. Hackett
what is that case number for countrywide/BofA?
is that in Superior Court of CA?
I have a friend who is struggling with countrywide & Sovereign Bank.
John,
Yes, that’s correct – as long as your in Florida we can save you quite a bit of money with Foreclosure Defense – for example we charge about $99/hr no retainer fee, I’m not going to even tell you what a full charge attorney will ask for – just call around and see – that’s if you can find one that specializes in Foreclosure Defense and is not afraid to challenge the status quo of the legal system. floridadefenseteam@comcast.net
Wells Fargo Sues Itself:
http://www.foxbusiness.com/story/markets/al-lewis-wells-fargo-bank-sues/
I forgot to mention we FINALLY have a case against Countrywide/BA at issue. This was their 3rd Demurrer (our Second Amended Complaint). The court overruled them on 8 of 10 COAs including fraud, slander of title and violation of CA Business and Professions Code section 17200. They have 10 days to Answer. Now I just need to get Notice out to them. This puts us at about 9 or 10 cases at issue. 4 on Appeal and about 48 in demurrer limbo.
Walter Hackett,
Attorney at Law
Seven J. Kop
Your post of July 9th is amazing! Please keep us informed as to how the case proceeds. I am sure everyone here shares my gratitude!
How can you say that, the bill would require Attorneys and foreclosure consultants alike to be paid after actual work is performed and completed instead of draining borrowers accounts predatorily, abandoning the job unfinished, & leaving them with no resources to defend themselves with. Hey what are you guys soooo worried about You are in the business of HELPING Homeowners…. aren’t you?…..
The “proposed” CA legislation has actually been passed as a bill was introduced into and passed by each house of the CA legislature. Neither bill, as far as I know, has been passed by both houses. One of the bills actually states homeowners should contact their lenders about a loan modification. It might as well recommend hiring convicted child molesters to teach Kindergarten because of their great love of kids.
The bills will GUARANTEE HUNDREDS OF THOUSANDS of CA Homeowners WILL lose their homes in non-judicial foreclosures. In the meantime lenders and servicers are sending out bogus Loan Mod packages that are, in fact, forebearance agreements. The documents specify they constitute “Step 1″ of the modification process. Sounds like the ultimate violation of CA Business and Professions Code 17200
Walter Hackett,
Attorney at Law
Ian:
No this is not conjecture, Bloomberg Pro shows most non Agency MBS trades. The market was dead at the beginning of the year, as in no bid for most subprime MBS’s. Several trillion have been purchased in the last 6 months.
The Federal Reserve opened the Fed discount window and will loan approximately 80-90 cents of face value on securities at the window to select dealers only (I wonder who those are).
It is no secret that the Federal Reserve accomplished several short term goals by doing this.
The banks are entering the MBS market and paying 20-50 cents on the dollar for bonds that were market down to zero in some cases. Had banks truly marked their balance sheet to market, every bank on Wall Street would have to declare bankrupcy. Citibank still holds a portfolio of mortgages they claim has only lost 20% in value and mark it a 1.2 Trillion.
The Federal Reserve did away with proper accounting a few months ago. Banks do not have to report the last trade as the value of the bonds they hold, they can make up any number they wish and that becomes the value that gets reported.
The end result of all this is that banks holding mbs’s that have traded at the inflated prices can legitimately mark their assets to market and make billions on the markup alone.
So expect banks to report “record profits” again.
OF ALL THE SUBMISSIONS I HAVE DONE HERE …THIS ONE BLOWS MY MIND…..
New legislation introduced, allegedly at the request of California Governor, Schwarzenegger, will make it tougher to get a mortgage modification in California.
This legislation, California Senate Bill 94, includes language that says that attorneys can’t be paid for helping a homeowner apply for a modification until the process is completed!
CC2923.5 EXAMPLE (livingliesWEB SITE)
Home is $800,000 and the anticipated recovery through foreclosure on a net present value basis is $325,000.00 or less.
The SETTLEMENT under the proposed loan modification at $330,000.00 exceeds the net present recovery through foreclosure of $325,000.00 by over $5,000.00. Thus California Civil Code 2823.6 would mandate a loan modification to the new terms?.
(Q) Are you saying then the homes basis (cumulative) which is actually in excess of $800,000 and insured up to $250,000 must be modified according to 2923.5.
I can’t see through this one.Help me !
msoliman
borrowerhotline.com
MJ- is this just conjectural, or do you have proof that entities are buying for 10 cents and selling to the Govt. for 50-90 cents? Is there some database to view where this is apparent? Please post a response- thank you.
Need to talk with an attorney in Oregon (or licienced
to practice in Or.)
jclbiz@yahoo.com
After many, many months of working side by side with MSoliman, despite the many conflicts, mis-communications, and even shouting matches, I am here to attest to the validity of his prodigious knowledge and expertise (enhanced and sharpened into focus by, of course, myself), with this as the resulting general weapon of attack:
“I have practiced in the California and Federal Courts across the country for nearly 30 years, and have never under these circumstances, appearing for the first time on #### behalf of pro se homeowners seeking to save their homes from foreclosure, been refused the professional courtesy of a brief extension of time – in this case three days – to file an amended complaint involving complex securitizations and resale of mortgages where virtually none of the foreclosing putative lenders can show standing to foreclose or that they are the real party in interest, that is to say, the true holders in due course of the underlying obligation, the promissory notes secured by the deeds of trust that your respective clients seek to foreclose upon.
At some point in this action, each of the defendants will have to attest under penalty of perjury that they rightfully exercise the power of sale and own the respective obligations. I will be – and am prepared presently, at this very moment, to prove their perjury and deceits, before courts of law, and if called upon, any investigative body.
I have seen the Sarbanes-Oxley section 1122 Reg AB SEC filed 10K audit reports for many lenders, and have no doubt that the same exists for your respective clients. I am prepared to show under FAS 140 that the “sales” reported to the SEC are lies; they are NOT sales, but are instead hypothecations subject to repo agreements that allowed each of the unlawful business combinations to aid and abet each Federal Savings Banks to lie to OCC auditors about their balance sheets and true levels of capitalization.
These same lies are cover ups of the fact that the correlative Wall Street investment trusts are in actuality and presently 20% impaired in their assets, which by the terms of the trust indentures, must result in the collapse and liquidation of the trusts. Both the trusts and the FSBs are insolvent as a matter of law. This is the stark reality of it all.
All of these facts will be pleaded as a matter of public record, and will result my proof of them at trial, to the profound dismay and detriment of your respective clients.
Consequently, I propose a standstill agreement that allows a dismissal of the present pro se action and adequate time to explore if settlement is possible, subject to refiling if we are unable in good faith to reach a compromise agreement. Any statute of limitation defense would be preserved under my proposal.
Absent your immediate agreement to a standstill agreement, I intend to proceed ex parte as described above.”
(God help you all, you #@%)
Steven K. Kop
Attorney at Law
Happy Hunting, Everbody !!!!!
Let’s see, if I can buy a repackeaged mbs or CDO squared at 10 cents on the dollar and sell it to the Federal Reserve or Treasury at 50 to 90 cents on the dollar….I’ll take as much as the Goverment will buy, or as they call it loan at the Fed discount window.
I wonder how many dealers are coming back to pick up their trash from the pawn window….ZERO.
The fraud just goes on and on…
Investors Business Daily 7/7/09-Wall
Street bond dealers more than tripled their businesses of restructuring risky residential mortgage backed securities in Q2 as it gains credence as a way to boost portfolios. Credit Suisse, JP Morgan Chase and Jeffries and Co. led in restructuring nearly $20 billion in securities into salable parts, vs. $5.8bn in Q1 said one primary dealer. Dealers boosted business as banks and other investors sought to ward off losses and credit downgrades,which can force them to write down holdings or dump the securities. Dealers find hedge funds and others willing to take more risk. (Reuters) Any comments? Are the mortgages now being foisted onto unwitting hedge funds? Any idea how much these are going for? Pennies per dollar?
You can remove the Attorney you have listed in Dallas Texas, Billy D Price.
All they do is straight up Chap 7 and 13 filings – that is it.
Earl
Mr. Babcock,
Do you have a copy of the order that you can send to me? I have a friend with the same issues whose foreclosure is on appeal in Kentucky. It would be great if he had some recent case law to back up his arguments.
Thank you,
Alina
CONGRATULATIONS, Sean and Soliman!
Yes…great news and we will wait to see whats next. … they may try and come back quick to set this decison of standing aside . . .and bring in new arguments . We are 50-50 for lenders coming back . Anticipate here!
Anyone here want to comment.
admin@borrowerhotline.com
I just want to said Big Thanks to Maher Soliman who helping me to get out from Lending Sharks.He is always there for me and I am folowing his advice in correspondence with lenders.They are always suprised with his attack (knowlege)and so far I am successfull on one property with him as examiner and adviser.I get what I want and I finaly get what kind of scam all this mortgages are.There is more to be done and I will post result’s how they finished but so far so good. For all of you in trouble, Good Luck and fight,they (Lenders) are vulnerable and and you will get nothing w/o request and fight.
George
Great News!, Thank you, America Thanks you!
Today I hit a homerun in the Providence County Supreme Court. Option One’s attempts to foreclose in RI as Sand Canyon was shot dow. Judge Silverstein ruled that Sand Canyon was not a successor in interest to Option One and could not, therefore, foreclose on my client’s mortgage of $414,000.00. This is a huge ruling in RI where Option One has foreclosed on over 500 properties in the past year. I hope to have every one of them undone and put my client’s in their homes or recovery money damages. On July 30,2009 I have a MERS argument in the same Court that will set the tone for thousands of existing mortgages in RI and thousands that have been foreclosed. IT is all about attention to details.
Here is a question for the litigators and “seekers of truth”
Florida is attempting to have a Mandatory Mediation for all foreclosures.
The question is: are they in violation of their own constitution??
FLORIDA CONSTITUTION
SECTION 11. Prohibited special laws.–
(a) There shall be no special law or general law of local application pertaining to:
(3) rules of evidence in any court;
(5) petit juries, including compensation of jurors, except establishment of jury commissions;
(6) change of civil or criminal venue;
(7) conditions precedent to bringing any civil or criminal proceedings, or limitations of time therefor;
(9) creation, enforcement, extension or impairment of liens based on private contracts, or fixing of interest rates on private contracts;
(10) disposal of public property, including any interest therein, for private purposes;
(12) private incorporation or grant of privilege to a private corporation;
(13) effectuation of invalid deeds, wills or other instruments, or change in the law of descent;
(18) transfer of any property interest of persons under legal disabilities or of estates of decedents
Good luck and much success to all of us fighting the good fight!
phillip p
this must be [said] judge goldman you ref’d in -
“california central district court is pretty much run by a judge goldman”
“court of equity”- hahaha- yea if your a bank
phillip p
was a claim showing [relief & if so what was the claim&relief] ever filed in the case you posted?
i take it there was issue with your atty being [ worn down by the extended time ploy & lack of incentive for him?.
any info would be SOOOOOO helpful to me.
thank you in advance; ]
I am a Petition Preparer in Las Vegas, NV, if you think Florida is burdensome upon the mortgage debtor, well take a look at NEVADA. It appears that the judges have collectively decided that the debtor/mortgagee may if they have enough money file their dispute in State Court for damages but they will lose their homes. Keep in mind that the judges in Nevada are elected officials who run campaigns and the individual debtor does not contribute to that campaign. You can not win in any restrictive and/or good boy States. I believe that forclosure dispute should all be moved to Federal Civil and not Bankruptcy Court. There absolutly no due process and substantive prodecural right avaiable. Perhaps in Florida and Nevada 1983 civil right violation cases would be a better approach for preventing irregular and/or illegal forclosure sales – non judicial case particularly. Mortgage Compaqnies are stealing homes and there is not checks and balances available. The mortgage companies do not have a negative cash flow due to the president(s) taxpayer contributions – the tax payer debtor is screwed.
Any attorney’s in the Spring Hill/Brooksville area of Florida. Anyone have any bad dealings with a FEDERAL CREDIT UNION ?
Abby in CA
Abby in CA
Folks here keep getting caught up with California regulatory criterion that dosen’t, in my opinion, amount to much.
Where are you in term from the settlement date to the dates in question?
The transferor originates the loans long term and accumulates them on its balance sheet. My balance sheet would show these assets as line item “Loans Held for Sale”
This is referred to as warehousing. When the Pool or group of loans reaches a sufficient size for delivery, the loans are physically sold to a QSPE. Remember though they were already committed and that’s all the Fed regulators care about. During the gestation period the transferor finances the cost of holding the loans with prearranged lines of credit known as warehousing lines. The proposed changes to accounting for transfers of financial assets were made even more liberal thanks to a good friend Bernanke. I called this one before it happened where it is even more lax under GAAP criteria for transfers and basically makes the ability to transferor merely by intent as to the assignment for the sale of assets to be bonifide. Backdating is for all intents and purposes lawful here.
Don’t forget the role of the nominee either. MERS
has anyone ever noticed that california central district court is pretty much run by a judge goldman? maybe in relation to goldman & sachs….. I’v looked at some of the case history there and I can’t honestly say that it is a place where justice is rightfully served. When you look at orange county california you’ll see that it has the 3rd highest economy in the world, it was home base for a lot of the shady lenders that gave bunk deals across the nation & that those in charge of enforcing the law have been engaging in activity that puts them outside the law. Sheriff Corona Indicted for Corruption District Attorney Tony R. got put under the scope for giving some of his contributors fake badges, I’m sure it doesn’t stop there it doesn’t take a rocket scientist to figure out that to be able to pull off all of these financial crimes successfully you’d have to do things like put people in power, bribe those in power & receive consent to move forward and then get rid of those that would pose a threat to your new criminal enterprise…. I wonder what happend with all those firings of US Attorneys when bush was in office just before all this got really bad……
Bill,
Can you email me what you have on this John guy?
Jun 29, 2009, 5:13 p.m. EST
States can probe bank fair lending, Supreme Court says
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) — States have the right to investigate national banks for violations of fair-lending laws, the Supreme Court ruled Monday.
The 5-to-4 ruling rejected arguments from the banks that only the federal Office of the Comptroller of the Currency had such authority.
“This is a huge win for consumers across the nation,” said Andrew Cuomo, the attorney general for the state of New York, in a statement.
The case began in 2005 when Cuomo’s predecessor, Eliot Spitzer, asked banks for information about their lending practices. The banks sued to block the probe, and lower courts agreed with the banks. Spitzer had threatened to issue subpoenas to get the data.
The Supreme Court ruled that Spitzer could not have issued subpoenas, but was allowed to bring an enforcement action if violations were uncovered. States are free to pursue investigations of banks for consumer protection issues in courts, the ruling said.
The Clearing House, the banking group that brought the suit, said it was “disappointed” with the decision.
Another bank group, the Financial Services Roundtable, went even further, saying that the decision “will create a patchwork of 50 state laws that destroys the efficiencies of the national market.”
The case was decided by an unusual coalition on the high court. Justice Anthony Scalia joined more liberal Justices Stevens, Souter, Ginsburg and Breyer in the majority.
Seth Galanter, of the Washington office of the law firm Morrison & Foerster, who worked on the amicus brief on the side of the banks, said he was surprised by the ruling since “no one was advocating that [outcome.]”
Galanter said one consolation was that attorneys general would not be able to engage in “fishing expeditions” because there will have to be some basis for their requests.
Robin Conrad, a legal analyst with the U.S. Chamber of Commerce, said Monday’s ruling may be a more narrow victory for the states than bankers fear.
“It leaves the whole area [of federal pre-emption] in a much more muddled state,” Conrad said.
“It is unclear how much it opens the door” for state oversight, Conrad added.
Mr. Garfield:
This story from Nevada may posit the question, will the real party in interest step out from behind the curtain in order to modify my loan? And more importantly inavertantly disclose the whole pretender lender obfuscation of the fact that the only real party in interest is (theoretically at least) the investor
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/06/26/state/n170148D19.DTL&type=business
Darryl,
If you do find one, please let me know. I am having a tough time finding one as well here in CA with a securitized refi MERS Deed and note.
dnd1190@gmail.com or (424) 294-2045
Don
Hello all,
I am an individual who knows exactly how to prove through litigation , that any real property which was a part of the securitization process, is free and clear.
However, I’m really having a tremendous amount of trouble finding attorneys who get it or are willing to fight.
Can someone please send me a referral for the state of California.
Darryl Evans 562-556-2080 or Daltoids@aol.com
Warning – Do not contact or send anything to John Dunn “olivier@ipa.net” … his operation is a scam.
Gina
fax that attorney and tell him you are doing two things immediately if he does not return all of your money and your docs.
1. you will report him to the State Bar Association of California (they have a website and you can do it online)
2. you will file a legal malpractice case against him, as it was really legal malpractice for what he did not do for you
Also, be so kind as to tell us his name so none of us also living in the bay area use him.
What are the pros and cons of filing a lawsuit against JP Morgan Chase Bank, NA in a federal vs a state court? It seems to me, our superior court judges in Santa Clara County are not in tune to what is really going on with these scam artists.
UPdate — The attorney that filed my complaint in the Santa Clara County Superior Court in January did NOT serve JP Morgan Chase. ;’( Thus, the reason why JP Morgan Chase has not answered. No wonder I fired that guy. That attorney has not returned my files to me, did not show up to 2 hearings, and now this. And did not return any of my money to me. It is bad enough dealing with the banks then having to deal with an attorney like this. Which of course meant that I had no money to hire MSolimon who I am convinced is one of the few people that knows what he is doing.
Depressed does not even come close to how I’ve been feeling the last few days. May God help us all.
Wells Fargo Bank, National Association as Trustee for the Certificateholders of Structured Asset Mortgage Investments II Inc., GreenPoint MTA Trust 2005-AR5, Mortgage Pass-Through Certificates, Series 2005-AR5 by EMC Mortgage Corporation as its attorney in fact.
. . . attorney in fact for who. The QSPE needs MERS as beneficiary “Nominee” to remain opaque, hidden and out of sight…till after sale at the courthouse steps.Whoever funded the loan thats likely your Beny!
See FAS 140
msoliman@borrowerhotline.com
A vulture fund is used to buy distressed assets. Its what I used to run at MGCA and would use to purchase impaired bank whole loans.
I would buy a pool of loans in foreclosure at 50 to 80 cents on the dollar. I would mark the pool to resell at a 10 % margin with other assets we held. This way the borrower could also enjoy the gift of a new loan at a reduced balance.
The loans I would purchase were stale on a warehouse line…in other words not yet committed or sold (obviously).
Once sold into a trust its impossible to sell off the asset for a number of reasons. Lenders cannot do a modification and no short sale – I am telling you this . . . . . before you hear it on 60 minutes this Fall.
Okay!
MSoliman
m soliman….
my… what a huge hammer you wield !
so let me thank you for that ” concise & well explained ”
post 6-19-09 re; QSPE
what is the meaning of”Vulture Fund” i can see a couple of different ways to apply it – tho was it a genuine title of the fund? if so how ironic .
hey thanks again… i’m becoming a fan
Abby — I am in San Jose, California.
M Solimon what do you think?
Gina
One more thing to check when hiring a lawyer. You can go to Martindale Hubbel website at martindale.com. Type in the prospective lawyer’s name. Hit the button LEARN MORE and info about the lawyer comes up.
For instance, I just learned that Tracy L. Woods of Pleasanton California, his specialty has been FAMILY LAW & IMMIGRATION until recently when he has started his foreclosure mill!! So no wonder he
floundered with my friend’s case!!
Martindale.com also allows you to input your client experience with your lawyer. So if you have some complaints you need to input your experience at this site. Also, if you feel there is legal malpractice you can file a complaint with the state bar association. Another avenue is to find a legal malpractice attorney who may then sue the attorney who was negligent etc. with your case.
Update on Tracy Wood, ESQ in Pleasanton, CA.. Earlier I described how deficient he was in his legal
work for a friend of mine, who now had to move out of her home due to the Writ of Possession being awarded to the entity who bought her home at Trustee’s Sale. Upon several or my emails to Tracy, basically telling him shame, shame for not even having her bkr plan done before the meeting with creditors AND for not planning to show up for creditor hearing AND for not doing a darn thing to protect her home AND for not even filing a Fraud case against Countrywide…….he has now told my friend he will write her a Fraud complaint but she has to pay to file it. We are not sure if he will represent her though. He kept her money, but when he did show up at the BKR hearing he wanted her to pay $5 for his parking!! The BKR trustee was upset that there was no BKR plan.
Anyone who deals with that firm should use extreme caution. Search this website as there is somebody else who used that firm and ended up losing his/her house due to inaction on the part of that firm. It is a posting from April timeframe.
I also had to tell Tracy it was basic malpractice for what he did not do for my friend.
He sent one email back to me basically telling me to butt out. I had to say my bit as I referred my friend to Tracy.
Philip–I am in the East Bay of California. Dublin.
hey abby where in ca are you located?
GINA-what state are you in? At the very least you, if you are representing yourself, should at least be prepared to argue to the judge that they have not been responding to you. Hopefully, you have filed proof of service with the civil clerk.
note-I am not an attorney. it is also hard to tell as you never indicated what type of complaint you filed against them…wrongful foreclosure only?
Go a bit early and see if any of their attorneys are around —if so, maybe they want to negotiate–but have your facts on why they should–
It is very difficult to predict what that court hearing is about. Sorry.
ps you should read thru your State’s discovery laws….maybe something there you can use with the judge to get them to produce what you have requested.
note–if they complain about the complaint not being adequate etc….then maybe you can use the fact that they did not produce the discovery you requested and you could amend the complaint if you had the discovery.
again….I am not a lawyer and you should try to find an attorney or go to legal aide
Finally, I have my first court day this Tuesday on the case I filed against JP Morgan Chase. I filed it in January and JP Morgan and WaMu did not respond to the complaint. Although, it was discussed when we appeared in an exparte hearing to consolidate and again at the UD hearing. I lost posession of my home last month… So, what happens on Tuesday at the conference hearing? Does the JP Morgan Chase get to respond?
Back in February, I followed examples on this site to dispute the debt validation and also demanded the name(s) and contact info of the owner of my note/loan. Just two weeks ago, WaMu responded that JP Morgan Chase is now the servicer and that it is forwarding the letter to them (which I already sent to them). Comptroller’s office told JP Morgan Chase to respond to me back in March (still nothing).
So, what do I do (or not do) on Tuesday? At this point, I don’t want to live in that house ever again. I want my money back and damages. What should I expect on Tuesday?
Thank you,
G
David,
Well Fargo National Association is the Trustee. You cannot be a Trustee and Own the Note less it then becomes a Partnership with the Certificateholders who are in Fact the Noteholder in this example.
EMC acts as the “attorney in fact” (and would like to see those documents).
Mortgage Audits
oliver@ipa.net
john
OPAQUE AND DECEPTIVE PASS THRU INVESTMENT TRUST BUSINESS PRACTICES
Where Are the Attorneys and Why are Law Makers Silent to FAS 140 and Role of the QSPE
Press Release
By msoliman@borrowerhotline.com
June 17th 2009 LOS ANGELES, CALIF. / I opine legal practitioners must gain a better understanding of the verifiable arguments that MAY lend consideration towards individual and class consideration. We contend the Federal Savings Bank has breached FIRREA and spirit of the enactment using the Pass-through platform as a shelter to conduct business. There is support for concern as to the role of the federally insured FSB (aka saving and loan) having never relinquished the receivable it originated from you the borrower.
“Special Purpose Businesses” or QSPE are a “straw” “combination” (wholly owned) company that among other things, should be prohibited as a transferor entity to act as a lender. The loans or “assets” it originates become a security upon which it can borrower against and as such will fall short of the trust and indenture assuring a bonifide sale has taken place. The “obligor” that transfers assets to the entity (Creditor) and who enters into a commitment to provide additional cash or other assets to fulfill the QSPE’s obligations to beneficial interest holders cannot exist.
Especially if that entity holds equity instruments such as shares of partnership interests.
Accounting for pledges of financial assets is the most serious underlying threat to the trust structure. When a specific asset (as a security) is being loaned the transaction is being accounted for as secured borrowering. FASB has effectively removed the concept of QSPEs, which is the enabling “piece” to make off-balance-sheet securitizations possible. [From the FASB set of regulations, specifically, FAS 140]. FASB voted to remove the Qualified Special Purpose Entity (QSPE) concept (used for some securitizations) from FAS 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, and to remove the related scope exception from FIN 46R, Consolidation of Variable Interest Entities (VIEs).
Consider a Pass through investment upon reading a 10K disclosure for yearend 2008 and whereby a Transferee upon delivering closed sales is reporting to have less than one percent delinquency and or impairment (bad Loans). This whereby assets sold are transferred at will to and from the QSPE (Off balance sheet).
It is solely to shelter investors from loss and the need for impairment recognition that normally could affect the outstanding pool of assets. The demise of the trust is likely and conceivable by notifying the trustee of a failure to recognize reporting delinquency contrary to the rules under a series of repurchases whereby the collective entities are operating as one and a 20% delinquency is grounds for throwing the Trust into receivership.
So where are the attorneys and why has this gone on as long as it has? Not one consumer based group seeking opposition to ongoing opaque and deceptive business practices !
What’s at stake here requires formulating a cognizant legal argument contemplating accounting (GAAP)based principles for formulating litigation that will grasp FASB guidance on accounting for transfers of financial assets in FASB Statement No. 140,
“Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities. The absurd and ignorant view of some regulatory opinions is amazing where I found this- AICPA AcSEC (Letter #44) who stated,
“We are not aware of any abuses in practice related to transfers of a portion of an asset and this new guidance makes the standard much more difficult to apply, would significantly change practice and would result in accounting that doesn’t make sense.”
The reporting party (10K) has a dual motivation for lacking transparency here by repurchasing or “hiding” impaired assets. I can support the reasons for which I was opposed to pass through investment platforms, employing the QSPE model and non transparent platform for capitalization from a new issuance. Because I am honest and to protect the investors where my opposition is verifiable as recently as 18 months ago (Ref: Gareeb Pham et al PPM / CONCILLIUM ASSET BACKED PROPOSAL: Vulture Fund).
These accounting procedural changes are mandatory not solely to improve consistency and transparency in financial reporting.
As stated earlier I believe a transfer of financial assets (borrower loans and derivatives) between a willing buyer and a willing seller should stand on its own merits.” The arguments for and against the QSPA need consider the play amongst parties reporting whereby it is imminent and threatens sponsors to exposure to documented attempts to isolate further control of the assets in question.
Clearly, any attempt to manage, direct or manipulate an asset and after a sale occurs to a Trust investment will clearly violate the provisions for qualifying the asset as something other than a “contingent Transfer” under FAS 140. With the benefit of over 250 consumer homeowner files and audit’s we have a unique advantage permitting us to see clearly the causes for why the transferor after having sold the assets are unwilling to provide a meaningful solution to borrower requests for relief. No ethical method or plan for a disposition for a bad loan has emerged for good reason – direct contact and mediation by anyone other than a Transferee (trustee) would first require the asset to be classified and otherwise make a repurchase back to the QSPE mandatory.
A repurchase provision and any other set aside components which affect the sale will be considered grounds to void the transfer as a true sale. Therefore any attempts to make good on state and federally mandated enforcements associated with borrower relief in mind fail. The is no economic incentive to assist a short sale buyer in a disposition of asset priced above the loss taken in trustees sale which is continually booked at a loss (figure substantially below the short sale offer and its basis held).
Home owners who sought relief from trustee sale via short sale avoid a foreclosure on their credit record. A realtor recently put a house on the market for a short sale. The couple (both in their upper 60’s), lost their business a furniture store due to current economics. Subsequently they could no longer afford their mortgage.
Between April 2008 and August 2008 the DRE Agent presented Chevy Chase Bank with 15 offers, at least 6 of the offers were over the appraised price (bank appraisal).In short, “I provided all requested documents 3 and 4 times, as they seem to lose them’. The allegations by agent and parties claim Chevy Chase will lose more than that at an auction. Correspondence to the, president and CEO failed as all other attempts for mediation did accordingly. Agent claims after 5 months . . . lost over $ 10,000 or more considering all the expenses, and cost to clients who lost their credit rating . . . . Employees in loss and mitigation dropped the ball for nearly 6 weeks.
“When I first called to announce a short sale, the person in loss and mitigation told me outright, why “they” don’t just foreclose”.
A short sale and mortification request is of no economic value and threatens the existence of any trust structure. Early prepayment as we saw in 2003 through 2005 took its toll on the repurchase demands made of Countrywide. The alternative to cashing out early and sustaining huge losses is supplementing lost loan volume with new production. That mentality caused there to be a magnificent push towards production at any expense. Good assets paid off and weaker assets were used to offset losses for guarantees and yields due investors by Countrywide.
Thus all the bad loans you see today!
Could this mentality sustain itself through a third and forth cycle of refinance and hyper accelerated payoffs demands from periodic bursts caused by housing demand? In my opinion more and more weaker loans paid off due to adverse drops in market rates affect housing prices that had driven home sales up and rapid fire prepayment speed.
So assume weaker and weaker loans were supplementing the weak loans that were going from “Citi” to “Country” and back again. You almost need an air traffic controller like facility to keep track; e.g.MERS
Booking loans at the “Whole loan” level is a losing proposition with price levels bearing heavy on fixed and variable costs. Price inhibitors are mostly due to the cost to attract broker business. Retaining a security interest in assets that recycled themselves lower and lower on the quality scale made hanging on a losing proposition. The art of substitution applied to assets treated as a sale is opportune and available only through a trust and pass through investment. Stock options and executive incentives with a shorten horizon of three to five years did not work in hindsight as the latest round of malfeasance has executives facing indictments where they nearly were allowed to get out unscathed and avoid the commissions wrath for manipulative insider trading.
Therefore the notion that greed drove the market and excess caused the toxicity is not entirely correct. It’s the added consideration of recourse and guarantees that normally do not transfer in a bonifide sale that make the QSPE and FAS 140 amendments so important to understand. It was the set aside and need to honor the recourse provisions for fall out in order to shelter the trust pursuant to using unrealistic accounting rules
Now the shift against combinations, transfers and treatment of sales make vulnerable the arguments against the FSB who we contend is the true holder in due course.
Look months down the road at the final assignment from the Trustee in a recovery. That assigment is back to the purported original lender. That transfer of the asset is below the original basis and market and rests as a FSB owned (REO) asset.
MSoliman
http://www.borrowerhotline.com
(thanks neil)
If a street analyst is available please consider the opinions made for FAS FAB 140 and provide comments here or to M.Soliman 877-732-7653
emc is the loan service wells fargo is supposed note holder go to edgar and do a search to see if youroan is in that pool ot cerificates. check the servicing agreement- dave gobb@ptd.net
Now, explain this to me:
This is a foreclosure in Arizona and the beneficiary is?
Wells Fargo Bank, National Association as Trustee for the Certificateholders of Structured Asset Mortgage Investments II Inc., GreenPoint MTA Trust 2005-AR5, Mortgage Pass-Through Certificates, Series 2005-AR5 by EMC Mortgage Corporation as its attorney in fact.
C/O EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, Texas 75067
Mortgage Audits
oliver@ipa.net
john
To Attorney Hackett-with respect to CA code 2924(a)(1)(c), how could I deal with a servicer JP Morgan Chase who never did a declaration, filed the NOD, but then many, many months later a corporate deed of assignment from the original pretender lender New Century Mortgage to U.S. Bank, N.A. done and then backdated (handwritten) on the assignment doc, to the date of the NOD. Also, the Substituion of Trustee is backdated to the date of the NOD. The substituion of trustee, done by US Bank, was done prior to them becoming the beneficiary on the corp. deed of assignment.
So, with the backdating, I have actually two trustees at the same time!! One that was actually the trustee during and then a second one from the backdating of the docs.
I don’t understand what you are saying in your last line of ‘Who’s the beneficiary defense’ …..
Anybody in CA, lawyer or non-lawyer know about a company called “Home Defense Group”?
It looks like they are the same company as United First Foreclosure that used attorney MW ROTH in a JV Agreement.
That didn’t turn out so well and I almost got trapped in that one.
“Who’s the beneficiary defense” seems to be picking up some steam.
While there is no “Show me the Note” defense in CA, Civil Code section 2924(a)(1)(C) expressly states a Notice of Default must be predicated on a declaration from the BENEFICIARY as to each and every default THEN KNOWN to the BENEFICIARY.
Since we do have cases (BK) effectively holding servicers are NOT beneficiaries these seems to support what I’ve been alleging in Complaints i.e. the Trustee’s recording of an NOD and/or NOTS is NOT privileged or authorized by CC 2924 et seq.
Walter Hackett,
Attorney at Law
Philip,
I don’t know if you’ve emailed in the past few days due to substantial hardware issues (so much for the “Laptop as Workstation” theory). I am in the process of adding a couple of associates who I’ll be teaching from scratch so they won’t have anything to “unlearn.” While I’m buried, in light of your posts and clear need if you email me I will find a way to fit you in to my schedule.
Walter Hackett,
Attorney at Law
Phillip
With respect to Neil, I cannot act in place of an attorneys, do not like to solicit business direct (with respect to the bars wishes and the states concerns regarding un qualified auditors) .
In UD Court yesterday I understand a man came in with a crown and tried to represent these individual s suffering at all stages of foreclosure. With memories of scent of a woman he went up to stand before a judge. Now, he said he wanted each foreclosure dismissed for lack of the note where each lender was unable to perfect title.
The following that supported him turned into a mob and chased him out where he was not seen again, Funny? Not really at a cost of as much as $10,000 for some individuals.
Contrary to what some say you need to contact an attorney willing to hire us on your behalf as an expert. Hackett civil or Kop Fed and bankruptcy and Susan Rabin for general guidance and limited scope engagement agreement (ca practitioners) . All good recommendations. Or your own choice from researching the sources around you!
Now as for being worthless….do you know my wife? LOL
We provide accurate testimony for specific areas involving the pass through investment and testify in your case if necessary.
For informational purposes offering a practical foundation and 25 years trading receivables …contact me at 877-732-7653
msoliman
admin@borrowerhotline.com
Phillip…the best way to get that done is to hire a lawyer. Trust me, I am certain that pro se documents are not what’s going to slay the dragon…there’s plenty of good lawyers on this site, use your good money and hire one.
worthless
never mind you guys are wortless
I thought I might pass this information on to those in Florida.
http://www.floridatrend.com/article.asp?aID=50904
http://www.scgov.net/homehelp/documents/LawFirmLetter.pdf
Mortgage Audits
oliver@ipa.net
john
I am facing two seperate foreclosure actions on the same property (1st lein). Wells Fargo and Deutsche Bank both claim they own the same note. As usual, both have lost the note. I have responded w/ a produce the note(30 days no response), motion to compel and have a June 24th date w/ the judge in chambers to hear the motion. Silly me, but how can they both own the note. But, neither are able to produce the original instrument. One or both of them has comitted serious violations in filing…no? 18th district FL
To Phillpl S. Get in touch with me on my site and do a info request, I have some data compiled that may help you.
HEY COULD SOME ONE AT LEAST TELL ME WHAT FORM I USE TO STATE A RESCISSION CLAIM BASED ON 1635(B) & HOW I STATE IT IN CENTRAL DISTRICT COURT…..
solimon what do your services cost ? I need help…….
Hackett’s comments are interesting….
Can you imagine the mandatory need for these compliance audits in prior times and before every broker closed their loan.
So here is our June “Ace hole” of the month award winner …The lender denied the client a meaningful, caring and loving work out resolution under 2923.5 for the following: “Borrower did not have sufficient 12 month seasoning”.
Our findings show the lender Taylor Bean refinanced the borrowers purchase after only 4 months…
Help us Lord, Help us!
I will go on record and tell you that I will examine any audit conducted for a borrower and show you no less than five material violations “MISSED” and equivalent causes of action
(“ahhh ohhh ummm, sorry Bar, I mean laymen can’t say causes”. “So let’s say “Dirty deeds done cheap”).
Any fool who uses the word “AUDIT”audit and who is not QUALIFIED AND OR A CPA had better prepare their E&O carrier for the worse. What! E&O….whats that ? WHAT THE %$# ?
YOU DON’T SAY? My tune has not changed and words are consistent …since 2005. They are :
1) MERS will never be beaten and did no wrong (by the way they are approved to go under ground soon….Senate Bill I believe)
2) Look into the conflict between HUD and the SEC and depending on the horse you pick….Lenders did nothing wrong in view of the commission. That is till they commenced with the exit and recovery.
3) There is one and only one means and method to seek to prevail in these matters. It is exclusive jurisdiction, substance and using arguments that are of the proverbial “Morton’s Fork”. It is completely verifiable. (see item #2 above).HUD will send you to an electric blanket in Vail.
The SEC has beautiful accomodations ready for perpetrators at their Leavenworth resort. Pick your choice on where to argue. . . and judge by the oppositions facial expressions!
4) Home for free and equitable distribution are something you better get on board with.
[NOTE – I heard a Trustee in a hearing warn Mr Kop about equitable distribution and courts lack of understanding. (Nice) Kop (The prophet) calls it low hanging fog. With Colonel Sanders as my witness you should have heard the Prophet “Kop” as he cited section 544 and Trustees strong arm “avoidance powers”.
Trustee – you think that will do the job do you? Get something for nothing?
Prophet: NO! ….but it will allow me to throw Bank of America into receivership!”
Trustee – Pure unaudulterated stagnant silence ……….then looks at the hearings assistant (to the Trustee) and say’s ……
Trustee – .”We will continue the matter!
5) Notes were never ever lost – not at least how you interpret “lost” (Lost sock , lost dog and Yankees lost).
6) The mental stability of the client and ignorance of the marketplace make this a dangerous place to be for any attorney, expert, auditor or jeweler.
msoliman
http://www.foreclosureinfosearch.com
(attorneys that venture into this foray without Garfield’s course are …..just attorneys!
West Coast Suggestions
—————————–
S Rabin ESQ
K Kop ESQ (Bankruptcy)
A Kulack ESQ (Tough as they come)
W Hackett (Always helpful)
Northern California
—————————
Chris Gardas (No BS)
Mark Terbeek (Won several)
Just a reminder: Any state bar is a 100% Voluntary organization. It is not the Licensing Division of the State that grants the right to practice to which a fee is paid….that is by the way of the Supreme Court. Who set up the Supreme Court. There is the geographical State of California and there is the Corporation. Who are the officers of the Corporation and who are the beneficiaries of the corporation? Who has the right to chose their assistance of council?
Mortgage Audits
oliver@ipa.net
john
I’d think twice about that. Mr. Drexel thought nothing about going after attorneys who tried to assist homeowners but did nothing about those who represent thieving, greed-driven lenders. I wrote to him personally to ask him why he was all but ensuring Real Estate “Professionals” (almost an oxymoron at this point) would be the ONLY people who could negotiate on behalf of homeowners with their lenders. I pointed out that these “Professionals” are the SAME people who put homeowners into loans they could NEVER afford.
Walter Hackett,
Attorney at Law
ALL I HAVE TO SAY TO THE PEOPLE OF CALIFORNIA IS BE VERY CAREFUL IN SELECTING COUNSEL
California State Bar, in Refusing to Reappoint Scott Drexel, Sends Message to State: We Don’t Want Lawyers Disciplined
The State Bar of California has sent out a memo: If you want to be the chief lawyer responsible for policing lawyer misconduct, do not actually police misconduct. This is a wink-nod position. Scott Drexel got the memo. From the Daily Journal:
SAN FRANCISCO – The State Bar Board of Governors decided this week not to reappoint Scott Drexel, the head of the bar’s prosecution unit who had sparked controversy by tightening rules governing attorneys.
What were some of Mr. Drexel’s offenses?
Drexel made waves by introducing a controversial rule to allow for permanent disbarment in the most egregious discipline cases and made it tougher for attorneys to resign with charges pending against them. At Drexel’s urging and despite an uproar among attorneys, the State Bar now posts notices of disciplinary charges online.
Why shouldn’t notices of disciplinary charges be posted online? The State Bar doesn’t publish kooky allegations of every rabid pro se litigant. There must be a finding of misconduct. In California, it’s really hard to be found liable for misconduct.
Shouldn’t the public know whether a lawyer has behaved unethically? The public, after all, are clients. The public also pays for court houses, judicial salaries, and all the other trapping of law. Why shouldn’t the public have a right to know?
Drexel also got into major trouble for prosecuting an unethical prosecutor:
Drexel also raised hackles in the law enforcement community by going after several well-known prosecutors for misconduct, including Santa Clara County prosecutor Benjamin Field. Accused of offenses including withholding exculpatory evidence, which Field’s supporters were quick to point out involved cases more than a decade old, Field ended up having his license suspended for four years.
Benjamin Field, quite simply, committed prosecutorial misconduct. He withheld evidence. He broke the law. (News report here.) The judge that heard the evidence of Field’s misconduct concluded (pdf):
In this contested disciplinary proceeding, an overzealous deputy district attorney is charged with multiple acts of serious professional misconduct in four criminal matters. Contrary to the ―professional keeping of lawyers, respondent Benjamin T. Field abused his prosecutorial power, concealed relevant and material evidence and violated the constitutional rights of defendants.
That was too much for the State Bar of California to stomach. Scott Drexel actually wanted to hold lawyers accountable for misconduct. He wanted the public to be able to determine whether a lawyer had violated the law. He wanted prosecutors to follow the same laws they enforce. For his audacity, he is out of the job.
The next chief prosecutor for the State Bar of California will get the message. Pound on a few desks. Make a lot of sound and fury. Signify everything; do nothing.
The Massachusetts cases are powerful and have servicers and lenders very worried about past practices. I had a foreclosure that took place in Saugus Mass last year reversed and my client is due damages. Have seven such cases pending in Rhode Island right now with Atttorney Todd Dion. Look to the UCC, Restatements, Law Review and Bankruptcy Rulings on Standing. This is a war tha can and will be won.
We GET IT – Florida Homeowners who need assistance in fighting your Foreclosure and winning back your home, we’re now accepting new clients.
floridadefenseteam@comcast.net
she has a way to recover with damages i believe…”california gulf case”
sorry i couldnt find the link…
abby ….
we need a lynch mob for him.
there is no middle ground in these times… you’re part of the solution or part of the problem.
tuff break for your friend.
karma has no appellate court for the lawyer .
good luck pursuing this injustice.
Avoid this attorney–Tracy L Wood, ESQ at http://www.tracywoodlaw.com with an office in Pleasanton, CA.
I referred a friend and he indicated he’d file a bankruptcy case and then also a fraud/TILA case in her behalf on her foreclosed home. He did not even file the bankruptcy plan prior to creditors meeting and he did not show up to fight against Countrywide/Sovereign in bankruptcy court. He never kept her updated on her case. He never did the TILA audit as promised.
He has appx. 500 clients in his alleged ‘foreclosure’ rescue business. He has a hugh front office staff.
It is just a mill. He has a judge who has written hm a 20 page document of some sort chastising him.
I think it is deplorable.
She now is being evicted next week. I’m writing to our State Attorney General about this mill.
AVOID AVOID AVOID
I am a California RE Broker in Los Angeles/Ventura County that negotiates loan modifications for clients and am looking for forensic loan review services. Right now costs for these services that I have seen are in many cases cost prohibitive to the homeowner. I am hoping to find an affordable, informed company and/or attorney to perform these. There is no mark-up on my part for the loan audits, the homeowner pays the exact cost, so I am trying to find something that makes financial sense for them. If there are severe TILA or RESPA violations these clients may be referred to an attorney to pursue litigation. I’ve seen information about forensic loan services on this site, but no contact info. Please let me know or send a referral. Thanks.
davidjain79@yahoo.com
Looks like the Conn AG is starting to get it. From the Conn AG website: http://www.ct.gov/ag/cwp/view.asp?Q=441316&A=3673
Connecticut Attorney General’s Office
Press Release
Attorney General Investigates Selection Process For Law Firms, Marshals Handling Foreclosures
June, 2009
Attorney General Richard Blumenthal, as part of an investigation into the foreclosure business in Connecticut, has requested information from mortgage giants Lender Processing Services, Inc., Freddie Mac and Fannie Mae concerning their process for selecting law firms in foreclosure proceedings.
Blumenthal is investigating reports that a majority of Connecticut foreclosures are assigned to only a few select law firms, and complaints by consumers who said they did not receive proper foreclosure notices from marshals.
In letters to Lender Processing Services, Inc., the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae), Blumenthal said he understands that these organizations maintain a network of law firms that perform legal services relating to foreclosure actions.
Blumenthal has requested specific information related to the process in developing these networks and selecting law firms.
“Dominance over foreclosure service by a few select law firms and marshals has spurred complaints about improper or illegal practices — wrongfully allocating work to non-marshals, forging papers, failing to serve papers, and making kickbacks,” Blumenthal said. “Concentrating this work in a few hands can be severely problematic — causing unconscionable costs and failed notice delivery. These companies — mortgage lending giants — have a public trust.
“A scarce few are spinning foreclosures into fortunes — and perhaps deepening homeowner despair.
“As concentration in the foreclosure business has increased, so have consumer complaints, which have prompted my investigation. My office is investigating to ensure that competition is preserved, and consumers protected.”
Blumenthal has requested that Lender Processing Services, Inc., Freddie Mac and Fannie Mae each provide the following information:
* Identify all law firms in Connecticut who have provided them with legal services relating to foreclosure actions from 2007 to the present;
* Identify the criteria utilized in selecting law firms to handle foreclosure work;
* Identify the number of foreclosure actions filed from 2007 to present in Connecticut for which each enterprise has retained counsel;
* Identify the Connecticut law firms used, and itemize all fees paid to such Connecticut law firms, from 2007 to the present;
* Identify and itemize all fees paid to Lender Processing Services, Inc., Freddie Mac and Fannie Mae by Connecticut law firms from 2007 to the present;
* Identify all policies and procedures required of Connecticut law firms to comply with the provision of legal services sought;
* Identify any complaints received relating to Connecticut consumers who did not receive notice of a foreclosure action or default judgment in a foreclosure action;
* Identify all lenders to whom default servicing is provided; and
* Provide copies of all agreements with law firms, including fee schedules.
View the entire letter – (PDF-260KB)
Hey Neil,
I would like to know if it is possible to file a Quiet Title on a house after it has been through the ringer. Meaning the house was sold to a new owner. As you seem to have been the only one with the insight to my particular case. The court file has a filing say the original docs are in the “court file” however there are no “original docs” in the court file as well as no assignment docs etc. You are aware of the circumstances surrounding my case. So I would just like to know before the anniversary of the judgment expires (Sept 10), if I have one last hoorah available?
Best wishes,
JD
p.s.
Scott had sent me an email regarding the Orlando seminar, however he did not follow up on my reply. Hope things went smoothly.
ok, so today one of my “servicers” sends me a response to my written qualified request dated 5/7/09 and signed for return reciept requested on 5/15/09. Stating that they are declining my right to recind because I did not site the specific truth in lending violations to them and that I entered into a forbearane aggremment on 5/16/09. This was a phone call from the servicer offering me a modifacation on this loan the day after it signed for the wqr and nothing was signed as of yet, they sent me a pres plan mod file on 5/28/09 and said I had till 6/15/09 to accept. The are also trying to push the fruadulent 2nd out the door to a Debit collector and say I should contact them directly. Promlem number one; the second is ulitized in the 1st on the HUd, and has all the fraudulent signatures on it as well as a page that was checked off that I cant cancel the mortgage and signed by I belive the Bank rep/loan officer as is bears similarites to her signature, most def not mine. So with that said, do I just give the “lender” this proof or Take this mod, I do like the apprasail was also fishy and overly stated, and would like a new apprasial at todays fair market value to work off of in if I take this. Another issue is that I found that this loan was somhow written with collateral from an ajacent property, so the plot thickens. If I take this now will it leave me with noe recourse on the other property/ I really need to come to see you guys, willing to fly in.
EVERYONE — THIS IS A CALL FOR HELP THAT WILL HELP YOU!: ANYONE WITH LINCOLN FED LOAN SHOULD REPLY. And for the uninitiated, “defeased” means ownership was taken away from you or was purportedly taken by issuance of a certificate of title after sale. Dispossessed means evicted.
FROM S. KOP:
I continue to seek three (3) former homeowners defeased and dispossessed by:
http://www.lincolnfed.com/
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
Dark Forces Gather.
Steve: Please share it here and send to me as POST for BLOG with attribution to you and contact info.
I continue to seek three (3) former homeowners defeased and dispossessed by:
http://www.lincolnfed.com/
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
Dark Forces Gather.
I need an attorney in NM. I have a predatory loan and want to get the owner of the note and start from there . I also have federal issues. Shall I start with state then go to feds? So maybe a attrny who practices in NM and federally? I have a boguss loan that has killed us financially and have foreclosure papers that I have about 23 days to respond to and although did some research I will need an attorney.
I have clicked on the link to this thread under the impression that I’ll be able to find a list of attorneys in a network that “get it.” Instead all I find is a long list of posts.
Is there some list of such attorneys anywhere? I certainly need an attorney that does get it.
TEO
Well here in the good old state of Mass the war continues. I have been tossed around by at least 9 mass attys at this point with my case. I think there is dire corruption here. So, on that note I am back to trying to help my self. I keep being told that with the proper atty my mortgages are void, and I should be able to keep my property free and clear. I have written the wqr to all my “servicers” with the lauguage of all successors ansd assigns and any and all loan numbers or changes in the loan numbers. ( this should cover everything), and I have no response from this. So if the law holds true, I should be able to declare the property mine, correct? The 21 days have passed. The last atty I went to here, looked on the record, and said “you changed your deed so the homestead on your property is void” I said,well you did not look. when the atty gave me back my deed, I recorded another homestead right over the top of that”
OKAY CAN SOMEONE AT LEAST TELL ME WHAT FORMAT I NEED TO TYPE A MOTION OR AN AMENDED COMPLAINT OR WHERE I CAN DOWNLOAD WHAT I NEED OTHER THAN THE CACD WEBSITE?
Ayn Rand Lives,
You are right that it was passed by the Florida legislature. I found out that the legislation was initiated by judges and backed by Sen. Ken Pruitt (R) and Rep. Ellyn Bogdanoff (R).
The rationale, I’m told, is that this will discourage “lenders” from filing foreclosures before trying to work things out with the homeowners. I don’t know about ya’ll, but I don’t believe it will affect the filing of foreclosures one iota. Is that cynicism or what?
Anyway, if anyone has any ideas on how to protest this, I,m game. I have been researching Florida’s open court doctrine which is substantially different than our Constitution. Interestingly, open access to the courts is not exactly a fundamental right under the U.S. Constitution. But under the Florida Constitution, it is.
Alina
A comment on the increased filing fees in Florida foreclosure cases: The fees were increased by the Florida legislature (so you have to wonder if the fix is in by lenders!). Is anyone at the Florida Defense Team willing to challenge it as being in conflict with Fla. Sta. ch. 70.001, Private Property Rights Protection Act?
john..is the Florida court guilty of unjust enrichment by such an exorbitant fee increase?
i also read that the Florida [rocket docket] foreclosure case merits are being determined by the judge asking the defendant ] – [ borrower [homeowner ] 2 questions
1-are you current on the mortgage?
2-are you living in the house?
if yes to both case is ruled is ruled in favor or the plaintiff ?? huh?
a very depressing read imho!
I believe that a class of filing fees predicated exclusively upon the value of one’s home in foreclosure is an impermissible discrimination in light of the equal protection clause of US Constitution and is actionable under 42 USC 1981 etc. – - ie: Civil Rights Act.
Just my thoughts.
Mortgage Audits
oliver@ipa.net
john
The previous fee was $295.00. There were no fees based on the value of the house.
It is outrageous, but I am not sure how to protest this or who to go to.
As I said before, my main concern are the homeowners who are already stressed to the max. The criteria for being declared indigent in Florida is as follows:
Fla. Stat. 57.082 – Determination of Indigent Status
(2) (a) 2. There is a presumption that the applicant is not indigent if the applicant owns, or has equity in, any intangible or tangible personal property or real property or the expectancy of an interest in any such property having a net equity value of $2,500 or more, excluding the value of the person’s homestead and one vehicle having a net value not exceeding $5,000.
Not many homeowners I know can fit the description of being indigent yet they also would not be able to afford to file a counterclaim or cross-claim based on the fees.
Alina
832.366.3526
If I can get this information out to all:
http://pubcit.typepad.com/clpblog/2009/05/275000-sanctions-in-mortgage-shell-game.html
http://pubcit.typepad.com/files/judge-youngs-decision-on-nosek.pdf
Enjoy…
Mortgage Audits
oliver@ipa.net
john
Alina…. or anyone who knows..
can you post what the “previous” court filing fees were.
$1900… thats outrageous ..sounds like a severe protest@court is called for.
what help?! seems like the whole place ” our once great nation” is going to shit
; ( not a good feeling.
Hey Kop,
We don’t want to hear it second hand, we want to hear it from the horse’s mouth…
Mortgage Audits
oliver@ipa.net
john
Maher Soliman has DONE IT. Game over.
Watch for breaking news.
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
310.869.0269
The State of Florida has all but closed the doors to its courts for the ordinary homeowner. Florida has significantly increased the fees associated with foreclosures. The new filing fees not affect lenders filing foreclosures but also affect any homeowner wanting to defend a foreclosure action by filing a counterclaim and/or cross-claim.
I am totally outraged by these increases because, in effect, it makes it virtually impossible for an ordinary John Doe to defend a foreclosure in Florida. This limits access to the courts by the citizens of the State of Florida.
The new fees are which became effective June 1, 2009 are:
CIRCUIT CASE CURRENT FEES: Filing Fee $295
CIRCUIT (NON-FORECLOSURE) NEW FEES: Filing Fee: $395
FORECLOSURE CASES NEW FEES:
Cases with Value up to $50,000 Filing Fee $395
Cases with Value between $50,000.01 and $250,000 Filing Fee $900
Cases with Value of greater than $250,000 Filing Fee $1,900
I would like to get anyone else’s comments on this matter.
Alina
Thankyou for the support of the “new” face of forclosuers. The unemployed in this once great counrty do not wish to be in this situation, now everyone in this once powerful and economicly stable and once productive counrty is feeling this rumble.I did read something recently that the “plan” is now considering unemployment income, so if you are considering a loan modifacation you may want to ask about it, also able to consider spouse income/household income . But as most of us on this site feel, we are not taking this modifacation BS as reality. We all have the evidence, we all feel the same rage, Where are we going from here? Why not just allow this whole counrty to get back to zero and start a fresh “new” USA? I bet it would be alot cheaper than this slow death to us all that we are going thur, not one person I know is immune. This has gone from subprime to primetime. Americans need respect and digity. Write to your congressman/woman,let’s get some! I will get off my soapbox now.
Well seen as I’m not going to be able to find counsel to replace my bad one can someone please tell me how I go about filing an amended complaint that state a claim for which releif can be granted, the documents (evidence) in support & show that the current matter (foreclosure) has to be judicially conducted as a matter of law due to the defaulted state of the loan when it was transfered?
Please people I HAVE TO GET THIS TO COURT BY TOMORROW BEFORE THEY FILE MOTION TO VACATE
Floridians, Barristers, et al.
In defending your foreclosure lawsuit please take heed
to the words of a Ft. Lauderdale Circuit Judge:
,..”Having or not having a meritorious case has little bearing in winning a lawsuit in my court. Cases are frequently won by motion litigation. The ability of a sharp defense attorney who knows the laws shall frequently block the Plaintiff from ever advancing a lawsuit.”
You can prevail in your defense of your home! Study the law – learn the rules, visit the courtroom and hear the judges rulings. Learn the Court of Appeals rulings – JUDGES DO NOT WANT TO GET THEIR RULINGS REVERSED. The plaintiffs cannot prevail on most of these cases or they would have already. Stand your ground!
Looking for help. My loan has been sold several times. I requested copies of my promissory note from the last servercer, CitiFinancial, and my new servicer, Chase. Both claim they do not have the note.
What do I do next? Also, I think my loan may be securitized how do I find out if it is securitized. Would it be in my loan documents?
Thanks, in advance, for your help.
Good news in Mass on voided forclousers! Mass is finally getting it! The loan mod that I have already spoken on here may have more issues that I originally thought.. My thinking was outright fraud with Wamu making another person accountable and making them state in past tense that he was at the closing table so they could create a new note, and part of this mod agreement was that he was to be added to the deed and record as fee simple? But this was never done. So I now belive a bogus loan mod and a bogus original loan? any thoughts?
Here’s a copy of the ruling:
COMMONWEALTH OF MASSACHUSETTS
THE TRIAL COURT
LAND COURT DEPARTMENT
U.S. BANK NATIONAL ASSOCIATION, as trustee for the Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2006-Z,
Plaintiff,
v.
ANTONIO IBANEZ,
Defendant )
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) MISC. CASE NO. 384283 (KCL)
LASALLE BANK NATIONAL ASSOCIATION, as trustee for the certificate holders of Bear Stearns Asset Backed Securities I, LLC Asset-Backed Certificates Series 2007-HE2,
Plaintiff,
v.
FREDDIE ROSARIO,
Defendant )
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) MISC. CASE NO. 386018 (KCL)
WELLS FARGO BANK, N.A., as trustee for ABFC 2005-OPT 1 Trust, ABFC Asset Backed Certificates Series 2005-OPT 1,
Plaintiff,
v.
MARK A. LARACE and TAMMY L. LARACE,
Defendant )
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) MISC. CASE NO. 386755 (KCL)
MEMORANDUM AND ORDER ON PLAINTIFFS’ MOTIONS FOR ENTRY OF DEFAULT JUDGMENT
Introduction and Facts
The above-captioned cases, each brought pursuant to G.L. c. 240, § 6 to “remove a cloud from the title” of the properties in question, present two issues, one in common and the other in three variations. Each arises from a foreclosure sale of property in Springfield. The first issue is whether the Boston Globe, in which the notices of foreclosure sale were published, was “a newspaper with general circulation in the town where the land lies” (Springfield) within the meaning of G.L. c. 244, § 14 at the times of publication.( ) The second is whether the published notices, which named the plaintiffs as the foreclosing parties even though they had no record interest in the property at the time of either publication or foreclosure, complied with G.L. c. 244, § 14.
The variations of the second issue are as follows. In Ibanez, U.S. Bank National Association,( ) in whose name notice was published and sale took place, had no interest in the mortgage being foreclosed (either recorded or unrecorded) at the time of publication or sale. Complaint to Remove Cloud from Title at 2, ¶ 3; 3, ¶ 8 (Sept. 12, 2008) (filed in Misc. 384283) (hereinafter, the “Ibanez Complaint”). Further, there was nothing in the notice to indicate that it was acting (or purporting to act) as someone else’s agent, much less the agent of the principal. Motion for Entry of Default Judgment at 3 (Jan. 30, 2009) (filed in Misc. 384283) (hereinafter, the “Ibanez Motion”). U.S. Bank only acquired an interest in the Ibanez mortgage by assignment nearly fourteen months after the auction took place. Ibanez Complaint at 2, ¶ 3; 3, ¶ 8.
In Larace, Wells Fargo Bank, in whose name notice was published and sale took place, also had no interest in the mortgage being foreclosed (either recorded or unrecorded) at the time of publication or sale. Complaint to Remove Cloud from Title at 2, ¶ 3; 3, ¶ 8 (Oct. 23, 2008) (filed in Misc. 386755) (hereinafter, the “Larace Complaint”). There also was nothing to indicate that it was acting (or purporting to act) as someone else’s agent, much less the agent of the principal. Motion for Entry of Default Judgment at 2-3 (Feb. 2, 2009) (filed in Misc. 386755) (hereinafter, the “Larace Motion”). However, it acquired the mortgage by assignment ten months after the sale, with the assignment declaring an effective date prior to foreclosure (April 18, 2007). Larace Complaint at 2, ¶ 3.
In Rosario, LaSalle Bank, in whose name notice was published and sale took place, was the unrecorded holder of the mortgage at the time of publication and sale, but did not record the assignment reflecting that interest until over a year after the sale. Complaint to Remove Cloud from Title at 2, ¶ 3; 3, ¶ 8 (Oct. 16, 2008) (filed in Misc. 386018) (hereinafter, the “Rosario Complaint”).
In each of these cases, the bank was the only bidder at the foreclosure sale. Stipulation of Walter Porr, Esq., Counsel for Plaintiffs (Feb. 11, 2009 oral argument).( ) In Ibanez, the bank bought the property for $94,350, which was $16,437.27 less than the amount of the outstanding loan ($110,787.27) and $16,650 (15%) less than the bank’s calculation of the property’s actual market value ($111,000). Ibanez Complaint at 3, ¶ 8; Aff. of Walter H. Porr, Jr., Ex. G (Jan. 30, 2009). In Larace, the bank bought the property for $120,397.03, which was the amount of the outstanding loan plus “all outstanding fees and costs” and $24,602.97 (17%) less than the bank’s calculation of the property’s actual market value ($145,000). Larace Complaint at 3, ¶ 8; Aff. of Walter H. Porr, Jr., Ex. E (Feb. 2, 2009). In Rosario, the bank bought the property for $136,000. Rosario Complaint at 3, ¶ 8. Unlike Ibanez and Larace, the record in Rosario does not include information on the amount of the outstanding loan or the market value of the property.
According to the plaintiffs, despite their successful bids and their subsequent recording of all the relevant documents, they cannot obtain title insurance for the properties — making them effectively unsaleable — unless and until these issues are resolved in their favor. They have thus brought these actions seeking such relief. In each of these cases, the defendants (the mortgagors/equity holders of the properties at issue) have been served, failed to respond, and have been defaulted. The plaintiffs have moved for entry of default judgment. The issues were clearly identified before those motions were heard and the parties were given full opportunity to submit whatever affidavits or other admissible materials they believed necessary for adjudication of those issues. Notice of Docket Entry (Jan. 7, 2009) (filed in each case).
Based on the record before me and for the reasons discussed below, I find and rule that the Boston Globe was “a newspaper of general circulation” in Springfield at the time of the notices and sales and thus meets that requirement of G.L. c. 244, § 14. I also find and rule that LaSalle Bank’s foreclosure in Rosario was not rendered invalid by its failure to record the assignment reflecting its status as the holder of the mortgage prior to the foreclosure since it was, in fact, the holder by assignment at the time of the foreclosure, it truthfully claimed that status in the notice, and it could have produced proof of that status (the unrecorded assignment) if asked.( ) Finally, I find and rule, however, that the other two foreclosures (U.S. Bank’s in Ibanez and Wells Fargo Bank’s in Larace) are invalid because the notices that named those entities failed to name the mortgage holder as of the date of the sale as required by G.L. c. 244, § 14. Neither U.S. Bank nor Wells Fargo Bank had been assigned the mortgages at the time notice was published and sale took place. Neither an intention to do so in the future nor the backdating of a future assignment meets the statute’s strict requirement that the holder of the mortgage at the time notice is published and auction takes place be named in the notice.
Analysis
Whether Publication in the Boston Globe Was Sufficient to Meet the Requirements of G.L. c. 244, § 14
G.L. c. 244, § 14 requires notification of a foreclosure sale to be published “in a newspaper, if any, published in the town where the land lies or in a newspaper with general circulation where the land lies” for that sale to be valid. See Bottomly v. Kabachnick, 13 Mass. App. Ct. 480, 484 (1982) (“The manner in which the notice of the proposed sale shall be given is one of the important terms of the power and a strict compliance with it is essential to the valid exercise of the power.”). The purpose behind that requirement is easily discerned and simply stated. It is to ensure, for the benefit of the mortgagor whose equity interest is about to diminish or disappear and who may face personal liability for the full amount of any deficiency, that a sufficient number of likely bidders learn of the sale so that competition, and thus the highest price, will result. See Roche v. Farnsworth, 106 Mass. 509, 513 (1871) (“There is the more reason for this [requiring strict adherence to the statute's notice provisions], where the power [of sale] is made to a mortgagee, who is interested merely for himself, and has opportunities for collusion and for taking unfair advantage of the mortgagor.”). Underlying the notice requirement is the notion that most of the interested and likely bidders will either live or work locally or, if from afar, expect the local newspapers to carry the relevant notices.
The plaintiffs in these cases did not choose “a newspaper . . . published in the town where the land lies” or even, for that matter, the newspaper with the greatest local circulation. That would have been, for both these criteria, the Springfield Republican. Instead, they chose the Boston Globe for reasons of cost and convenience. According to plaintiffs’ counsel, the Globe has competitive advertising rates and its legal notices advertising department is able to receive electronically-transmitted notices from foreclosing parties, immediately acknowledge that receipt, and promptly publish notices. The record does not indicate, and counsel did not know, if the Springfield Republican has similar rates or capacities.
G.L. c. 244, § 14, however, does not require publication in a locally-published newspaper, in the newspaper with greatest circulation, or even on the day with the greatest circulation. ( ) It is enough to publish in “a newspaper with general circulation in the town where the land lies . . . .” G.L. c. 244, § 14. The statute does not contain an explicit definition of “general circulation,” none appears anywhere in the relevant statutory provisions (those governing foreclosures), and counsel has not directed the court’s attention to any relevant decisions of our appellate courts. Thus, the familiar tools of statutory interpretation must be employed.
[A] statute must be interpreted according to the intent of the Legislature ascertained from all its words construed by the ordinary and approved usage of the language, considered in connection with the cause of its enactment, the mischief or imperfection to be remedied and the main object to be accomplished, to the end that the purpose of its framers may be effectuated. Courts must ascertain the intent of a statute from all its parts and from the subject matter to which it relates, and must interpret the statute so as to render the legislation effective, consonant with sound reason and common sense. Words that are not defined in a statute should be given their usual and accepted meanings, provided that those meanings are consistent with the statutory purpose. We derive the words’ usual and accepted meanings from sources presumably known to the statute’s enactors, such as their use in other legal contexts and dictionary definitions.
Seideman v. City of Newton, 452 Mass. 472, 477-78 (2008) (internal quotations and citations omitted).
Black’s Law Dictionary is such a source. See id. at 478; Thurdin v. SEI Boston, LLC, 452 Mass. 436, 453 (2008) (both citing Black’s). It defines “newspaper” as “a publication for general circulation, usually in sheet form, appearing at regular intervals, usually daily or weekly, and containing matters of general public interest, such as current events.” Black’s Law Dictionary at 1069 (8th ed. 2004). “Newspaper of general circulation” is defined as “a newspaper that contains news and information of interest to the general public, rather than to a particular segment, and that is available to the public within a certain geographic area.” Id. The Boston Globe met each of these tests in Springfield at the time the notices were published. It was a “publication for general circulation” in Springfield.( ) It “contain[ed] matters of general public interest,” such as national and international news, sports, and business coverage. And it was available in Springfield on a daily basis during the times in question, both through subscription and single-copy sales at stores and by vendors.
The Globe also was a newspaper that, for the times in question, met the statute’s intent of reaching a broad audience of likely bidders. While it had a fraction of the Springfield Republican’s circulation (the Republican sold somewhere between 21,959 and 24,733 copies in Springfield on an average weekday during the relevant time period),( ) the Globe’s figures (somewhere between 1,400 and 1,600 copies in Springfield during the relevant time period)( ) were nonetheless significant and sufficiently “general” in the context of Springfield’s overall population at the times in question.( ) The Globe’s status as one of New England’s major newspapers also makes it likely to reach a large, additional audience of institutional and other bidders.( ),( )
In short, while far from the best alternative, the Globe was good enough to meet the statutory test at the times in question. It was “a newspaper with general circulation in the town where the land lies” when the notices were published and thus sufficed under G.L. c. 244, § 14.( )
Whether Publication Occurred in the Name Required by G.L. c. 244, § 14
G.L. c. 244, § 14 requires that notice of a foreclosure auction be given not only to the mortgagor and “all persons of record” holding junior interests in the property (by registered mail), but also by publication in a newspaper of general circulation at least “once in each of three successive weeks, the first publication to be not less than twenty-one days prior to the date of sale.” The purpose of such publication, as previously noted, is to ensure, for the benefit of the mortgagor whose equity interest is about to diminish or disappear and who may face personal liability for the full amount of any deficiency, that a sufficient number of likely bidders learn of the sale so that competition, and thus the highest price, will result.( ) See Roche, 106 Mass. at 513. It is thus, broadly speaking, a consumer protection statute and, as the courts have repeatedly made clear, one that requires “strict compliance” with its notice provisions. Bottomly v. Kabachnick, 13 Mass. App. Ct. 480, 484 (1982) and cases cited therein.
One of those requirements is that the notice identify “the holder of the mortgage.” Id. at 483. Failure to do so renders the “sale void as a matter of law.” Id. at 484. The purpose of this requirement and the need for “strict compliance” is readily discerned. As even a cursory glance at the current caseload of this court reveals, titles arising from mortgage foreclosures can have many problems. These include the most fundamental: Did the party conducting the foreclosure have the authority to do so and, if challenged, can it prove that it had such authority? In short, will a purchaser at the foreclosure sale get good title and will get it in prompt fashion? These are increasingly important questions in the current deteriorating real estate market and are not small concerns. It is increasingly rare for a mortgage to remain with its originating lender. Often, as here, mortgages are assigned to other entities, and then assigned yet again into large securitized pools.( ) Often, as here, the paperwork lags far behind. Sometimes mistakes are made.( ) Mistakes can only be corrected, if at all, through confirmatory documents (which the borrower may not so easily agree to) or litigation. With so many foreclosed properties available for purchase, why bid on a property with even the possibility for such trouble? Why bid on a property when the foreclosing party cannot produce all the documents (including proper mortgage assignments in recordable form) that would give good title? Why take the risk that the foreclosing party will be able to produce the documents promptly after the auction takes place, that those documents will be complete and in proper form, or even (in this era of failed and failing institutions) that the foreclosing party will still be in existence, with intact files and knowledgeable employees able to find those files so that the proper paperwork can be completed? Since these concerns affect the ability to obtain clear, marketable title, why bid a reasonable market value instead of a discount price to account for that risk?
None of this is the fault of the mortgagor, yet the mortgagor suffers due to fewer (or no) bids in competition with the foreclosing institution. Only the foreclosing party is advantaged by the clouded title at the time of auction. It can bid a lower price, hold the property in inventory, and put together the proper documents at any time it chooses. And who can say that problems won’t be encountered during this process? It is interesting that it took the plaintiff (the foreclosing party and successful bidder) almost fourteen months after the auction to obtain its assignment in Ibanez and ten months after the auction in Larace.( ) Would any reasonable third-party bidder have been willing to wait that long, trusting that no other issues would arise?( ) Only in Rosario was the assignment (showing that the foreclosing party held the mortgage and could convey title as a result of the sale) in hand and ready for recording at the time of the auction sale.
The plaintiffs defend the validity of their post-foreclosure assignments (in Ibanez and Larace) and post-foreclosure recording of their assignments (in all cases), making essentially three arguments. First, they say that the language of G.L. c. 244, § 14 does not require that the notice name the holder of the mortgage. They agree that the form of foreclosure notice included in the statute contains that requirement explicitly (the signature line on that form is labeled “Present holder of said mortgage” and its text contains both the representation “of which mortgage the undersigned is the present holder” and the command “if by assignment, or in any fiduciary capacity, give reference”), but contend that these are not statutory requirements because the statute permits “alter[ation] [of the form] as circumstances require” and does not “prevent the use of other forms.” G.L. c. 244, § 14 (Form).
This argument is unpersuasive, for three reasons. First, it ignores Bottomly v. Kabachnick, which states that the notice in that case “was defective because it failed to identify the holder of the mortgage, thereby rendering the first foreclosure sale void as a matter of law.” 13 Mass. App. Ct. at 483-84 (citing Roche v. Farnsworth, 106 Mass. 509 (1871)) (emphasis added).( ),( ) Second, it ignores the “fundamental precept[]” that “[c]ourts must ascertain the intent of a statute from all its parts and from the subject matter to which it relates . . . .” DeGiacomo v. Metropolitan Property & Casualty Ins. Co., 66 Mass. App. Ct. 343, 346 (2006) (emphasis added). The form of foreclosure notice included in G.L. c. 244, § 14 is a part of that statute, indicative of its intent, and clearly contemplates (as Bottomly holds) that the present holder of the mortgage be identified in the notice. There is nothing to indicate that this aspect of the notice could be “altered.”( ) See G.L. c. 244, § 14. Indeed, at oral argument, plaintiffs’ counsel conceded that the current practice is to obtain and record all assignment documents before publication and commencement of foreclosure proceedings. Third, the language in the body of the statute clearly contemplates that the “holder of the mortgage” is the entity to give notice, as indicated by its reference to notices to be mailed “to the last address of the owner or owners of the equity of redemption appearing on the records of the holder of the mortgage . . . .” G.L. c. 244, § 14 (emphasis added).
The plaintiffs’ second argument is that the statute should be read “in its practical application, purpose and effect [to] uphold the exercise of the power of sale even though the assignment of the mortgage was recorded afterwards.” Second Supplemental Memorandum of Law in Support of Motion for Entry of Default Judgment at 5 (Feb. 16, 2009) (filed in Larace). This argument is made in two parts. First, the plaintiffs argue that the mortgagor “had ample time and opportunity to exercise his rights in equity to challenge the foreclosure at the time it was ongoing and failed to do so.” This contention (which places the burden and expense of a lawsuit on the mortgagor and allows a statutory violation with potentially severe adverse consequences to proceed unchecked if a lawsuit is not brought) is contrary to the “consumer protection” nature of the statute. The defaulting mortgagor is often a layperson, unfamiliar with law and legal proceedings, and often financially distressed and thus without resources to hire counsel.( ) Second, the plaintiffs’ argument that the mortgagor already knows the identity of the assignee of his mortgage from his RESPA notices( ) and thus cannot credibly complain, Id., completely misses the point of the publication requirement. As noted above, its purpose is to notify potential bidders who do not have that information and whose bids may be chilled by concerns over the foreclosing party’s inability to show, in recordable form, an assigned interest in the mortgage it purports to foreclose. Based upon the facts of these cases, such chilling is not speculative. In each of the two cases for which market value information was provided (Ibanez and Larace), the plaintiff purchased the property at the foreclosure auction for significantly less than that value (15% and 17%, respectively). See discussion, supra at 3-4.
Even the plaintiffs’ argument premised on a general notion of “practical application, purpose and effect” fails. As current practice shows, there is nothing difficult or inhibitive in a requirement that assignment documents be in place at the time of notice and auction. That is precisely what the plaintiffs do now. Those documents must be created, executed and recorded before title can pass in any event, so no additional time or expense is incurred by having them ready at the time of publication and auction sale. Having the assignments in place in recordable form at the time of publication and auction avoids the chilling effects on bidding described above. Interpreting the statute in this manner thus not only comports with its language and the intent inferred from that language, but also with common sense and a rational policy objective. See DiGiacomo, 66 Mass. App. Ct. at 346 (statutes to be interpreted “so as to render the legislation effective, consonant with sound reason and common sense”).
The plaintiffs’ third argument is that both case law and prevailing title practice support their contention that post-notice/post-auction assignment, so long as the ultimate assignee was the foreclosing party, suffices under G.L. c. 244, § 14. I disagree and discuss each of this argument in turn.
Bottomly is the most recent case construing the notice provisions of the statute and is the starting point for the proper interpretation of the earlier cases and proper title practice. As noted above, Bottomly unequivocally holds that a notice that fails to identify the holder of the mortgage is defective, thereby rendering the “foreclosure sale void as a matter of law.” 13 Mass. App. Ct. at 483-84. None of the cases cited by the plaintiffs either hold or suggest the contrary.
The first case plaintiffs cite is Montague v. Dawes, 12 Allen (94 Mass.) 397 (1866). Montague predates the publication provisions of G.L. c. 244, § 14, which were not enacted until 1877, so it is unclear what, if any, guidance it gives on the notice issue.( ),( ) What it does hold, and only holds, is that title derived from a foreclosure sale by an assignee of a mortgage in possession of that assignment at the time of the auction is not defeated by the fact that the assignment was not recorded until after the foreclosure took place, so long as the mortgagor is aware of the assignment and it is “unaccompanied with the suggestion that it was not recorded from improper motives, or that in some way the circumstance actually affected the sale by misleading purchasers or otherwise . . . .”( ) Id. at 400. Thus, it is directly applicable to Rosario (where the foreclosing party, LaSalle Bank, was correctly named in the notice as the holder of the mortgage and was ready, willing and able to produce its assignment, in recordable form, at the time of auction) and inapplicable to Ibanez and Larace (where the named foreclosing party had not been assigned the mortgage at the time of notice and auction, either on or off record).
The plaintiffs next cite the Rule 1:28 Memorandum and Order in Federal Deposit Corporation v. Kefelas, 62 Mass. App. Ct. 1121, 2005 WL 277693 (2005), for the proposition that the foreclosure notice need not contain the name of the holder of the mortgage in order for the sale to be valid. As a pre-February 26, 2008 unpublished opinion, Federal Deposit Corporation has no precedential value. Order Amending Appeals Court Rule 1:28 (Nov. 25, 2008). Even so, when closely examined, Federal Deposit Corporation does not reflect the holding plaintiffs argue. The notice in that case stated that the Bank of New England (“BNE”) was the mortgage holder when, in fact, that bank had failed and substantially all of its assets (including the Kefelas mortgage) had transferred to a “bridge bank,” New Bank of New England (“NBNE”). Federal Deposit Corp., 2005 WL 277693 at *1. The Appeals Court failed to see why, under these circumstances, “the change in name was significant” and thus refused to invalidate the foreclosure sale. Id. at 2-3. This is completely consistent with Bottomly. NBNE was, for foreclosure purposes, effectively the same entity as BNE and, given the general knowledge that BNE had failed and its assets acquired by NBNE, likely no one could have been confused or had their bid chilled.
The plaintiffs’ final citation is REBA Title Standard No. 58, “Out of Order Recording of Mortgage Discharges and Assignments.”( ) It provides, in relevant part, “[a] title is not defective by reason of . . . [t]he recording of an Assignment of Mortgage executed either prior, or subsequent, to foreclosure where said Mortgage has been foreclosed, of record, by the Assignee.” REBA Title Standard No. 58. The accompanying note states that this portion of the standard “is based on Montague v. Dawes, 12 Allen 397 (1866).” Id. (Comment). No explanation is given and no authority other than Montague is cited or discussed. So far as I can tell, this aspect of REBA Title Standard No. 58 has never been reviewed or ruled upon by a court at any level. I have great respect for REBA and the work of its committees, and the initial portion of its standard is certainly a correct reading of G.L. c. 244, § 14 and Montague (“[a] title is not defective by reason of . . . [t]he recording of an Assignment of Mortgage executed . . . prior . . . to foreclosure . . . .”). But the latter portion (relating to assignments made after notice is published and sale has occurred) misconstrues the statute, the holding in Montague, and the teachings of Bottomly and Roche. As discussed above, G.L. c. 244, § 14 requires publication in the name of the holder of the mortgage for the foreclosure sale to be valid. Bottomly, 13 Mass. App. Ct. at 483-84. It does so to assure potential bidders that the foreclosing party can promptly deliver good title and to prevent “opportunities for collusion and for taking unfair advantage of the mortgagor.” See Roche, 106 Mass. at 513. The best practice, of course, is to put the assignment on record prior to notice publication so it is available for all to examine. At the very least, the assignment should be fully executed and available, in recordable form, at the time of the foreclosure sale. Montague, 12 Allen at 400. To allow a foreclosing party, without any interest in the mortgage at the time of the sale (recorded or unrecorded), to conduct the sale in these circumstances, bid, and then acquire good title by later assignment is completely contrary to G.L. c. 244, § 14’s intent and commands.
Conclusion
For the foregoing reasons, none of the three foreclosures at issue in these lawsuits were rendered invalid because notice was published in the Boston Globe. LaSalle Bank’s foreclosure in Rosario was not rendered invalid by its failure to record the assignment reflecting its status as holder of the mortgage prior to the foreclosure since it was, in fact, the holder by assignment at the time of the foreclosure, it truthfully claimed that status in the notice, and it could have produced proof of that status (the unrecorded assignment) if asked. The other two foreclosures (U.S. Bank’s in Ibanez and Wells Fargo Bank’s in Larace) are invalid because the notices (which named those entities) failed to name the mortgage holder as required by G.L. c. 244, § 14. Judgment shall enter accordingly.
SO ORDERED.
By the court (Long, J.)
Attest: __________________________________
Deborah J. Patterson, Recorder
Dated: 26 March 2009
Footnotes
1. The notice in Rosario was published on June 5, 12, and 19, 2007 for auction to take place on June 26, 2007. Complaint to Remove Cloud from Title at 2, ¶ 5; 3, ¶ 8 (Oct. 16, 2008) (filed in Misc. 386018) (hereinafter, the “Rosario Complaint”). The notices in Ibanez and Larace were published on June 14, 21, and 28, 2007 for auctions to take place on July 5, 2007. Complaint to Remove Cloud from Title at 2, ¶ 5; 3, ¶ 8 (Sept. 12, 2008) (filed in Misc. 384283) (hereinafter, the “Ibanez Complaint”); Complaint to Remove Cloud from Title at 2, ¶ 5; 3, ¶ 8 (Oct. 23, 2008) (filed in Misc. 386755) (hereinafter, the “Larace Complaint”).
2. I refer to the plaintiffs by bank name (U.S. Bank, LaSalle Bank, and Wells Fargo Bank) solely for ease of reference. None of these banks hold the mortgages in question for themselves. Instead, they are the servicing trustees of the securitized mortgage pools identified in the case captions, which are the actual beneficial owners of the mortgages. Neither the details of the pools nor the particulars of the trust agreements are relevant for purposes of this Memorandum and Order, which assumes that the pools were duly and properly formed and compliant with all applicable laws, that the mortgages in question were properly included in those pools, and that the banks, as trustees, had full authority to act as they did.
3. I may consider such stipulation as an admission binding on the plaintiffs for purposes of these motions. White v. Peabody Constr. Co., Inc., 386 Mass. 121, 126 (1982).
4. The notices gave its agent’s (counsel for the foreclosure) name and address.
5. The circulation data submitted for both the Springfield Republican and the Boston Globe show that their Sunday editions have their largest readership. The notices in each of these cases were published on weekdays.
6. See circulation figures discussed immediately below.
7. The Republican sold 21,959 copies in Springfield on March 7, 2007, and 24,733 copies in Springfield on March 28, 2008. Supplemental Aff. of Walter H. Porr, Jr. at Exs. A, B (Feb. 3, 2009) (filed in the Larace case). On March 7, 2007, it sold an additional 11,985 copies in the immediately adjacent towns of West Springfield, Longmeadow and East Longmeadow. Id. On March 28, 2008, it sold an additional 14,720 copies in those same adjacent localities. Id.
8. The Globe sold 1600 copies in Springfield on October 24, 2006 and 1,400 copies in Springfield on October 23, 2007. Aff. of Walter H. Porr, Jr. at Exs. B, C (Feb. 2, 2009) (filed in the Larace case). It sold an additional 896 copies on October 24, 2006 and an additional 674 copies on October 23, 2007 in the immediately adjacent towns of West Springfield, Longmeadow and East Longmeadow. Id.
9. According to the U.S. Census data submitted by the plaintiffs, there were approximately 57,000 households in Springfield during this time period. Id. at Ex. D.
10. This is also true of the Springfield Republican and, as shown by their comparative circulation data, even more so in the Pioneer Valley area. Supplemental Aff. of Walter H. Porr, Jr. at Exs. A, B.
11. The record did not indicate, and counsel did not know, if the notices at issue in these cases appeared statewide or only in more localized editions of the Globe. For purposes of this Memorandum and Order, I make the conservative assumption that they appeared only in an edition circulated in Springfield and the neighboring Pioneer Valley area.
12. This ruling is not intended, and should not be construed, as a finding that the Globe meets the statutory test in Springfield for any times other than those at issue in these cases. The drop-off in the Globe’s circulation in Springfield between October 24, 2006 and October 23, 2007 (1,600 to 1,400 copies — a 12.5% reduction in a single year from an already small figure) suggests that foreclosure notices published subsequent to October 2007 may need to be assessed on a case-by-case basis.
13. It is also for the benefit of junior creditors, whose chances for recovery may be diminished or eliminated by the foreclosure if there is are insufficient proceeds from the foreclosure to cover all liens. See G.L. c. 183, § 27 (disposition of proceeds of foreclosure sale); Wiggin v. Heywood, 118 Mass. 514, 516 (1875); Pioneer Credit Corp. v. Bloomberg, 323 F. 2nd 992, 993-94 (1st Cir. 1963) (foreclosure of senior encumbrance discharges junior liens whose holders are made parties to the proceeding).
14. In Ibanez, for example, the mortgage was originally granted to Rose Mortgage, Inc., then assigned to Option One Mortgage Corporation, then assigned to American Home Mortgage Servicing, Inc., and then assigned to the Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2006-Z, of which U.S. Bank is currently the trustee. Ibanez Complaint at 2, ¶ 3. Larace and Rosario have similar histories.
15. See, e.g., LaSalle Bank National Association, as trustee for Merrill Lynch First Franklin Mortgage Loan Trust, Mortgage Loan Asset-Backed Certificates, Series 2007-1 v. Truong, Land Court Misc. Case No. 390707 (KCL) (assignment made, servicemembers action brought and judgment entered, G.L. c. 244, § 14 notices published, foreclosure conducted, and foreclosure deeds issued in incorrect name).
16. The foreclosure auction in Ibanez took place on July 5, 2007. Ibanez Complaint at 3, ¶ 8. The mortgage was not assigned to U.S. Bank until September 2, 2008. Id. at 2, ¶ 3. The foreclosure auction in Larace took place on July 5, 2007. Larace Complaint at 3, ¶ 8. The mortgage was not assigned to Wells Fargo until May 7, 2008. Id. at 2, ¶ 3.
17. There may be an innocent explanation for the delay (i.e., a rational business reason for waiting months to document the assignment), but none was offered or apparent in the record. Moreover, such an explanation is unlikely given the many months of delay, the deteriorating real estate market, the properties’ carrying costs (upkeep, security, and real estate taxes) and the bank’s desire for cash. Surely, each of these was a powerful incentive to move as quickly as possible.
18. Roche invalidated a mortgage foreclosure sale because the notice, inter alia, failed to name the holder of the mortgage at the time of the foreclosure sale (defendant George B. Farnsworth). 106 Mass. 509, 513 (1871). This omission and the other failings in the notice were “inconsistent with the degree of clearness that ought to exist in such an advertisement.” Id.
19. One can become the “holder of the mortgage” (an interest in land) only by a writing satisfying the statute of frauds, G.L. c. 259, § 1, in recordable form. Thus, the plaintiffs’ contention at oral argument that G.L. c. 244, § 14’s requirement of “holder” status was satisfied by the assignment of the promissory notes secured by the mortgages to the securitized pools (apparently done by contract documents referencing them generally, along with hundreds or thousands of other such notes) fails. In any event, no such documents were included in the record, so any arguments based upon them are unsupported and waived. Moreover, there is nothing in the record to indicate when the promissory notes were assigned and the record is unambiguously clear that the mortgages were assigned on the dates referenced herein.
20. Plaintiffs cite 146 Dundas Corp. v. Chemical Bank, 400 Mass. 588, 593 (1987), for the proposition that the precise form of notice contained in G.L. c. 244, § 14 is not mandatory. True enough. But the inclusion of that form in G.L. c. 244, § 14 reflects the Legislature’s intent regarding the contents of the notice, the suggested notice contains two places for “the present holder” of the mortgage to be identified (including a blank line to “give reference” if the mortgage is held by assignment), and there is nothing in 146 Dundas Corp. that holds (or even suggests) that such an identification can be omitted from an alternate form of notice.
21. These cases are perfect examples. None of the defendants ever came to court or filed a responsive pleading even though they had meritorious defenses. There is no suggestion that the mortgagors “waited until the owner may have added largely to the estate, or it has increased in value by a general rise, before bringing [a claim for redemption].” Montague v. Dawes, 12 Allen (94 Mass.) 397, 400 (1866).
22. Real Estate Settlement Procedures Act (RESPA), 12 U.S.C. § 2601, et seq.
23. The foreclosure in Montague took place under St. 1857, c. 229, which allowed sales to take place with “such notices . . . as are authorized or required by such power [of sale in the mortgage deed],” so long as a copy of that notice and an affidavit by the mortgagee “set[ting] forth his acts in the premises fully and particularly” were filed in the registry of deeds within thirty days after the sale. The statutory requirement for published notice was not enacted until 1877, which provided the following:
No sale under and by virtue of a power of sale contained in any mortgage of real estate shall be valid and effectual to foreclose said mortgage, unless previous to such sale notice of the same shall have been published once a week, the first publication to be not less than twenty-one days before the date of sale, for three successive weeks, in some newspaper, if there be any, published in the city or town wherein the mortgaged premises are situated; but nothing herein shall avoid the necessity of also giving notice of such sale in accordance with the terms of the mortgage.
St. 1877, c. 215. It would not be surprising if it came about, in part, as a result of the practices exemplified in the fact pattern and condemned by the court in Montague v. Davis. 14 Allen (96 Mass.) 369, 374 (1867) (“Here the notice proved ineffectual to attract purchasers, as might reasonably have been anticipated from the meagre information it contained, its irresponsible character, and the place of sale selected, remote from the premises to be sold.”).
24. Although not statutorily required at the time, the power of sale in Montague apparently contained a publication requirement of some form or fashion. See Montague, 12 Allen (94 Mass.) at 400 (referring to “public notice by advertisement of the time and place of sale”). The form and type of notice, however, was apparently never placed in issue since the defendant “aver[red] that the notices and affidavit required by statute were duly made and recorded” and the plaintiff “nowhere charg[ed] that the sale was wrongfully made . . . [or] that there was any irregularity in the proceedings.” Id. at 399.
25. Samuel Rice, the original mortgagee, assigned the note and mortgage to Henry Dawes on June 19, 1862. Mr. Dawes conducted the foreclosure sale on August 11, 1862, after he was assigned the mortgage, and conveyed the property to John Dunbar, who purchased it at Dawes’ request. Dunbar then conveyed it to Dawes on August 20, 1862. Dawes later conveyed it to a Mr. Hassam, who conveyed it Lydia Hawes. The case involved the mortgagor’s (George Montague) attempt to redeem the property, which the court denied.
26. REBA is the Real Estate Bar Association for Massachusetts, a private organization.
Posted today on The Home Equity Theft Reporter:
Thursday, May 28, 2009
Court Says Foreclosure Sales Were Invalid As Banks Didn’t Acquire Interest In Delinquent Loans Until After Legal Action Was Completed
In a recent ruling by the Massachusetts Land Court, two foreclosure sales were held to be invalid because, at the time of the publication of the notices of foreclosure sale, neither foreclosing lender owned an interest in the mortgage (either recorded or unrecorded) each was attempting to foreclose.
The facts of the cases in a nutshell are as follows:
• Wells Fargo and U.S. Bank each foreclosed on mortgages it purportedly held and acquired title to the homes securing said loans at foreclosure sales.
• When each lender attempted to unload the homes onto a subsequent purchaser, they were unable to obtain title insurance policies on the homes until a couple of legal issues affecting the property were resolved in the lenders’ favor.(1) One of the issues was whether the lenders were the holders of their respective mortgages at the time the notices of foreclosure sale were published.
• The lenders then each commenced legal actions to “remove a cloud from the title” to the homes.
• The court found that the applicable law for this case is found in G.L. c. 244, § 14, Bottomly v. Kabachnick, 13 Mass. App. Ct. 480, 484 (1982), and the cases cited therein, which among other things, requires that notice of a foreclosure sale identify “the holder of the mortgage,” (See Bottomly, at 483) and that failure to do so renders the “sale void as a matter of law.” (Id. at 484.)
• According to the court, the evidence showed that, while Wells Fargo and U.S. Bank were each identified in the published notice of foreclosure sale as “the holder of the mortgage,” each acquired its interest in their respective mortgages after the foreclosure sale (in Wells Fargo’s case, it acquired its mortgage by assignment ten months after the sale, with the assignment declaring an effective date prior to foreclosure; in U.S. Bank’s case, it acquired its interest in the mortgage by assignment nearly fourteen months after the auction took place). Additionally, the court’s ruling pointed out that there also was nothing to indicate that each was acting (or purporting to act) as someone else’s agent, much less the agent of the principal.
• Because they were incorrectly identified as the mortgage holders in the notice of foreclosure sale when, in fact, each did not acquire its interest until after the foreclosure sale, the court found a lack of compliance with G.L. c. 244, § 14, and therefore, ruled that the foreclosure sales were invalid.(2)(3)
Go here for the consolidated court ruling (U.S. Bank v. Ibanez; LaSalle Bank v. Rosario; and Wells Fargo v. Larace).
Thanks to Glenn Russell, of the Law Office of Glenn F. Russell, Jr., Fall River, Massachusetts for the heads up on this case, and for providing a copy of the court ruling.
(1) For the kinds of title problems one can encounter in buying real estate in a transaction, see:
• Buyers Cautioned To Address Title Issues When Buying Foreclosed Homes, and
• Title Insurance: What Risks Does It Protect A Property Owner Against?
(2) In a third case, the court found in favor of a foreclosing lender, ruling that possession of an unrecorded assignment of mortgage at the time of the publication of the notice of sale was sufficient to establish its status as a holder of the mortgage. Failure to record the assignment of mortgage was not fatal to its position as holder.
(3) In the following excerpt from the court ruling, the trial judge makes an observation that may be of some interest to those in the title insurance industry who are asked to insure the potentially crappy titles to foreclosed homes that may contain title defects as a result of errors made by assembly-line, foreclosure mill lawyers bringing lawsuits on behalf of lenders who lack standing to foreclose. Real estate purchasers buying foreclosed homes, either at a foreclosure auction, or from the bank directly after it acquires title to the foreclosed home, may also have some interest in the following (footnotes omitted):
• As even a cursory glance at the current caseload of this court reveals, titles arising from mortgage foreclosures can have many problems. These include the most fundamental: Did the party conducting the foreclosure have the authority to do so and, if challenged, can it prove that it had such authority? In short, will a purchaser at the foreclosure sale get good title and will get it in prompt fashion? These are increasingly important questions in the current deteriorating real estate market and are not small concerns. It is increasingly rare for a mortgage to remain with its originating lender. Often, as here, mortgages are assigned to other entities, and then assigned yet again into large securitized pools. Often, as here, the paperwork lags far behind. Sometimes mistakes are made. Mistakes can
• only be corrected, if at all, through confirmatory documents (which the borrower may not so easily agree to) or litigation. With so many foreclosed properties available for purchase, why bid on a property with even the possibility for such trouble? Why bid on a property when the foreclosing party cannot produce all the documents (including proper mortgage assignments in recordable form) that would give good title? Why take the risk that the foreclosing party will be able to produce the documents promptly after the auction takes place, that those documents will be complete and in proper form, or even (in this era of failed and failing institutions) that the foreclosing party will still be in existence, with intact files and knowledgeable employees able to find those files so that the proper paperwork can be completed? Since these concerns affect the ability to obtain clear, marketable title, why bid a reasonable market value instead of a discount price to account for that risk?
• None of this is the fault of the mortgagor, yet the mortgagor suffers due to fewer (or no) bids in competition with the foreclosing institution. Only the foreclosing party is advantaged by the clouded title at the time of auction. It can bid a lower price, hold the property in inventory, and put together the proper documents at any time it chooses. And who can say that problems won’t be encountered during this process? It is interesting that it took the plaintiff (the foreclosing party and successful bidder) almost fourteen months after the auction to obtain its assignment in Ibanez and ten months after the auction in Larace. Would any reasonable third-party bidder have been willing to wait that long, trusting that no other issues would arise? Only in Rosario was the assignment (showing that the foreclosing party held the mortgage and could convey title as a result of the sale) in hand and ready for recording at the time of the auction sale.
Excellent link.
I’m going to add that to my “Hackett & Kop’s Greatest Hits” for CA non-judicial foreclosures folder.
Why the “Lost Note” defense is a red herring;
Proof positive that in deed of trust states bankruptcy is the best venue to “Freeze in Time” the inability of putative lenders cure ” lack of possession of the note” and “failure to perfect a sale” of the trust deed.
http://www.mortgagelawnetwork.com/the-plaintiff-found-the-note-now-what/
Steven K. Kop
Attorney at Law
It never ceases to amaze me what these “servicers” do. Been complying with all the paperwork they’ve requested with fax confirmations, yet when called they say they never received it. When they are called out on it with the fax confirmations, they suddenly have the paperwork.
QWR? they still haven’t answered. I guess RESPA doesn’t matter.
CA Civil Code 2923.5 expressly requiring a “lender” try to negotiate modified terms with a homeowner BEFORE concluding a non-judicial foreclosure sale? The “gal” had no idea what the heck that was. Maybe that’s because this servicer is in Texas and I’m in CA.
It’s interesting to see my original loan docs. I’m no lawyer or mortgage audit, but there are quite a few shady things going on. The saga continues…
JD –
You lost the home to combinations, third party collaborators, nominee’s, trustees and vendors including the Master Servicer. . .I was not myself so . . .
Focus on your home for now!
1. Be crafty. . . . If the Less than 30 days, motion to set side …non judicial sale? Correct.
Are you licensed….lawyer?
Mouvant to prepare and show facts were not reasonably discoverable -subsequent to sale….or, try to seek a stay –
Call Susan Rabin ESQ (newest name in the know! ) She will review the file and further this discussion where I am about to cross the proverbial line . . . also Kop, Hackett, Garfield Terbeek, Gardas …I respect all these professionals and their opinion. Or ask around.
Hint: Settle the problem in the back room one on one with the CEO Yes CEO ONLY! He’s nervouse and wont want to rock the boat – Talk Turkey and talk straight about the reality of this fool as a menance to lending. He knows what is going on \ I’ll call him with you if you like….Write the State Attorney General or call a general attorney , call the Treasury Secretary Mr. Get …brother you have oprions here!
if the lender is a bail out Pig receving tax payer proceeds…the CEO will take your call …Hmmm TRUST ME !
Sorry bout the situation
. . . .but get Mad dam’n it!
MSoliman
Jurs Pro Witness
Admin@borrowerhotline.com
Only a licensed attorney in good standing with the State is qualified to give legal advice in California -Nothing herein is applicable or said or implied and intended to be construed or considered a legal opinion.
JD,
I am hopeful I am not one of those who did not respond to you. Unfortunately I’ve been all but literally buried the past two weeks. Please DO contact me and reference livinglies and your screen name so I know it is you. Please also advise as to the jurisdiction in which you are located. My group presently has 112 attorneys most of whom are in CA though we have representatives from at least half a dozen other states.
walter@hackettslaw.com
Walter Hackett, Attorney at Law
Thanks for stating the obvious there admin.
As the question was a general one (meaning there are those who know of my plight, such as Neil etc.) I was putting it out there to ask the possibilities.
JD
If censored whats the point – But JD, did you make any payments over the last 6 or 12 months? There is this thing called and obligation and judges tend to rule infavor of the holder in due course where payments are owed and the security assures the lender of recourse.
Its amazing – what did you expect – no payments no mo home. really! Your comments a little distorted . Wheres the breach, violations and tort.
admin@borrowerhotline.com
Anyone who has been foreclosed by any of the failed federal savings banks please contact me.
http://www.fdic.gov/bank/individual/failed/banklist.html
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
So here is a legal question for all the gurus.
As my house has been lost and sold through this wonderful legal process… Is it still possible to file a QUIET TITLE suit once there is a new owner in the home? Meaning is it possible to have one last hoorah at catching the bastards in their lies? Would the case most likely go through the same judge (who sided with the corrupted bastards)? Surely there has got to be some way to get retribution.
Oh and thanks for the NON-REPLIES to those who requested I contact them.
NEIL!!!!!!!! HELP!!!!!!!
StevenKop
Game On?
I have lost many nights sleep thinking I have been scammed. Now I know as the day I signed my mortgage to purchase my home. The note was sold the same day. I only beleive Wells Fargo and the Builder located in Arizona collaborated against the buyers. They forced values up, sold the note and cashed out with a maximum amount. Now forclosures have hit streets and I find my home value is worth one half of what I paid in the yr 2004. I am $ 200,000 upside down. I need help ! If I modify my loan I find I may only lower the payment about $ 300 per month. But if I sue the bank I may be able to get a principle reduction. I must some how bring my mortgage back to the market value.
Can I sue on any RESPA and TILLA violations even if I can not find any myself ?
If I sue, What are the possibilites of the bank finding the note and producing it in court ?
Can I sue based upon collaboration between the bank and the bulider ?
I
Any ideas or direction will be appreciated. I have a 5-1 ARMS and must refi within one year.
Thank you for your assitance.
BSE.
At the Orlando Seminar the Motion to Abate on Countrywide was discussed, does anyone have a sample motion?
WHAT IS WRONG HERE – AFTER REVIEWING OVER 300 FILES IN THE LAST 12 MONTHS WE HAVE AN ISSUE WITH THE STATE AND ITS UN WILLINGNESS TO ENFORCE THE CODE:
2923.5. (a) (1) A mortgagee, trustee, beneficiary, or authorized agent may not file a notice of default pursuant to Section 2924 until 30 days after contact is made as required by paragraph (2) or 30days after satisfying the due diligence requirements as described insubdivision (g). (Rare)
2923.5. (a) (2) A mortgagee, beneficiary, or authorized agent shall contact the borrower in person or by telephone in order to assess the borrower’s financial situation and explore options for the borrower to avoid foreclosure. (Rare)
2923.5. (a) (2) During the initial contact, the mortgagee,beneficiary, or authorized agent shall advise the borrower that he or she has the right to request a subsequent meeting and, if requested,the mortgagee, beneficiary, or authorized agent shall schedule the meeting to occur within 14 days. (NEVER)
2923.5. (a) (2) The assessment of the borrower’s
financial situation and discussion of options may occur during the first contact, or at the subsequent meeting scheduled for that purpose.(NEVER)
2923.5. (b) A notice of default filed pursuant to Section 2924 shall include a declaration from the mortgagee, beneficiary, or authorized agent that it has contacted the borrower, tried with due diligence to contact the borrower as required by this section, or the borrower has surrendered the property to the mortgagee, trustee, beneficiary,or authorized agent. (NEVER)
2923.5. (c) If a mortgagee, trustee, beneficiary, or authorized agent had already filed the notice of default prior to the enactment of this section and did not subsequently file a notice of rescission, then the mortgagee, trustee, beneficiary, or authorized agent shall, aspart of the notice of sale filed pursuant to Section 2924f, include a declaration that either:
2923.5. (c) States that the borrower was contacted to assess the borrower’s financial situation and to explore options for the borrower to avoid foreclosure.
2923.5 Lists the efforts made, if any, to contact the borrower in the event no contact was made.
2923.5 (d) A mortgagee’s, beneficiary’s, or authorized agent’s loss mitigation personnel may participate by telephone during any contact required by this section.
2923.5 (e) For purposes of this section, a “borrower” shall include a mortgagor or trustor.
2923.5 (g) That contact made at the direction of the borrower shall satisfy the contact requirements of paragraph (2) of subdivision.
3 (a). Any loan modification or workout plan offered at the meeting by the mortgagee, beneficiary, or unauthorized agent is subject to approval by the borrower. (NEVER)
Something has to give here. We need to unite California as the amended code is being treated by Lenders as a “Sham”.
admin@borrowerhotline.com
The information below is from a Countrywide REMIC Propsectus. What is it the PPM author trying to tell the investors about a negative event that is actually a benefit to the lender and investors?
Just amazing to me! (i) (ii) Weak disclosure designed to confuse the real potetnial for what led up to the current scene. See below:
“Mortgage Loan Modifications May Affect
Distributions On The Certificates Modifications of mortgage loans by the master servicer . . . in an attempt to maximize the ultimate proceeds of such mortgage loans .
The ability to modify mortgage loans by the master servicer may be limited by several factors”.
1. The master servicer may have difficulty contacting the borrowers who are at risk or may not be able to work out an acceptable modification.
2. In addition, if the master servicer has to consider a large number of modifications, operational constraints may affect the ability of the master servicer to adequately address all of the needs of the borrowers.
Investors should note that modifications that are designed to maximize collections to the issuing entity in the aggregate may adversely affect a particular class of certificates. . . .
No kidding Junior
Steven Kop,
Are you willing to take on Wells Fraudgo in FL.
Case involves appraisal fraud, illegal flipping , realtor / seller / title co. colusion ,etc ? We are in process of foreclosure now, awaiting forensic mortgage audit to be started. What do you say ? We need someone who wants to stay in the fight .
TCS
stythomas@yahoo.com
lsty@yahoo.com
Neil, I need three mortgage borrowers – bold, fearless borrowers – of
a) Lincoln Savings Banks of Omaha
b) Commercial National Bank (Omaha, NE)
Game On.
Nicole,
We have an attorney that serves Flagler County, as well as many of other Florida Counties – our fees are
reasonable and WE KNOW FORECLOSURE DEFENSE.
floridadefenseteam@comcast.net
or (772) 403-3897
PLEASE HELP!
I am in need of a attorney that REALLY “GETS IT” ! I have a group of people (approx 12-14) that I have been corresponding with who would like to start a class action suit against our mortgage company. I do NOT want to agree to this sub-prime lenders terms! I have done that & my situation has worsened. To make a long story shorter…I went into foreclosure last year mainly due to a forced placed ins., fought them, got it stopped, they offered a modification which turned out to be forebearance. It was an awful deal but I took the deal for 6 months to buy time, they now want to modify but their terms are unclear. I sent in a detailed “QWR” & haven’t recvd a response yet. It appears that they can’t even “produce the note”. After I sent the “QWR” they sent a letter denying the modification. I believe they have added excessive fees, unexplaned corporate advances, padded escrow, etc. & I am trying to have a forensic audit done. The group of people that I am talking with have similiar problems with this company. I have written FTC, HUD, Fannie Mae (FM returned my letter by the way)…..I need someone who has the balls to take on this case & not tell me to agree to their terms. I have tons of documents that don’t add up & am sure they have commited REPSA & TILA violations to my whole group. Someone needs to stand up to them. I have researched this company to find hundreds of similiar complaints yet no one seems to want to do anything about this kind of activity. I beleive that they are targeting & taking advantage of, the poor, uneducated, misunformed, elderly, minorities, single women/mothers, etc. I spoke with a retired attorney recently & he stated that it has the potential to be a HUGE case but I would need to find the right law group to represent. If you have any info, any advice, or have also been wronged by HomEq please email me at goldeeloxxz@yahoo.com
Thanks in advance for any help,
Amy
I am in Florida but the entire group is from all over the country. I want to help them as well as myself.
I need an Lawyer around Flagler County FL. I am desperate! This is way over my head, lost note, incorrect legal description of property, mortgage fraud, pedatory lending, you name it. I really think I have a lot of balls in my court but everyone here is either in cahoots or doesn’t seem to know much. I can’t even get a referal to someone who does. Help me please!
well now my primary is going down. I just received a letter from a law firm stating thar JP Morgan Chase is the New assingee for my wamu assgine, they are trying to forclose on a loan modifacation that I told wamu I was not taking, and I have letters stating that they were not going to do it because I did not get the paper work back in time. This was the Modifacation that they wanted another person at the closing table in past tense and a new note to be signed with a wittness. So,they also said that I need to write to them that the debt is not valid within 30 days, and that they may continue to forclse anyway. What do I do now, the loan mod was for a wamu bank asset. the original lender is gone.
I need an attorney for Los Angeles, California foreclosure lawsuit, I went pro-per now I need help
Please call 323-974-9345
FOR VALID EXTENDED RESCISSION CLAIMS: TENDER PROPERTY IN EXCHANGE FOR MONEY & ORIGINAL NOTE WHAT COULD THEY DO THEN ESPECIALLY IF THEY “LOST” THE ORIGINAL NOTE? THE LAW SAYS IF THEY DO NOT TAKE THE PROPERTY WITHIN 20 DAYS OWNERSHIP VESTS WITH THE BORROWER WITHOUT OBLIGATION.
2 BIRDS 1 STONE
Philip,
The answer depends on a number of things. First, you can’t truly act as his attorney. If you were deemed Guardian or Custodian of your father’s person and estate then, in theory, you could represent him Pro Se. If that is not an option then he could represent himself Pro Se. I do have about half a dozen attorneys in my group that are based in the OC. Feel free to email me with the city in which you live and I can find out who would be interested and able to help you then forward their contact info to you. walter@hackettslaw.com
Walter Hackett, Attorney at Law
Okay my lawyer wants to back out of my federal case, can I have my father (homeowner) grant me as attorney in fact even though I’m not an attorney?
I’m Located in Orange County CA
Florida Residents in Foreclosure – If you cant find an attorney who knows the ins and outs of foreclosure defense – or – worse – takes your case and your money but probably won’t challenge the status quo of the courts – take charge yourself! A pro se litigant is forced to learn everything about the specifics of their case and the law and they can be more knowledgeable than an attorney if they are willing to spend the time to learn. This site is a great reference point for your arsenal. Examine the Banks Complaint, Pick it apart by using Google to find statutes, case Law, motions – use Key Words, open a new tab and Google again after finding more key words – you’ll see alot of appelate court rulings – read how they interpet the laws. Examine the assigments, the signatures. Go to your courthouse and sit in the court room where a foreclosure hearing is being held – listen to the judges demeanor towards the homeowner vs. the bank. You can do this.
On the property with the title issues, I have a land court notice to answer by 5/18. If I wrote the letter to GMAC calling for the loan, should I still answer the complaint in land court as well, and how do I do this?
On my other property,I hava a total of 4. I am looking for an atty to do the leg work on the fraudulent signatures. I have an owners policy as well as a lenders policy on that property. the owners policy does not cover a 66k back end but the lenders does. This second is also funky, I read the hud and the motgage and it was written as some sort of home improvement loan for 66k, I never got a home improvment loan and I paid about the same amt as a down payment for the house,,,,,ummmm, I think I was dupped. Sounds like a case for the atty general. Can I do the leg work to use the title policy on my own or do I really need an atty?
well still plugging along, I sent out a certified letter again yesterday on the properties with the title issues and asked them to release the liens, exponge the bugus complaints and close the files with their law firm, I asked for all my payments back( that they could never prove in the qwr) less any taxes and insurance paid in my behalf, and all this to happen in the next 20 days.The title is unmarketable in it’s present state and I would need to sign off on the other “missing” deed for them to forclose now, what are the chances of that? Here you can have my house, have a nice day? I should have also asked for a satisfation of mortgage. any suggestions?
Article 3-106:
(a) Except as provided in this section, for the purposes of Section 3-104(a), a promise or order is unconditional unless it states (i) an express condition to payment, (ii) that the promise or order is subject to or governed by another record, or (iii) that rights or obligations with respect to the promise or order are stated in another record. A reference to another record does not of itself make the promise or order conditional.
Are my deed of trust and note no longer the same “contract?” They have been sold, traded, collectivised, pooled, (securitized) So in that process I assume new agreements have been made by new and different parties unilaterally. New contracts and agreements, and new governing documents, in relation to the aforementioned alleged note and trust deed. I don’t think anyone signed up for this?
Adam:
Trusts are either Rule 144 (Exempt from Registration) or required to register.
Registration entails filling a prospectus and other offering materials, that’s it.
To discover the details of your Trust today would require an audit of the mortgage backed security trust.
MJ
I just wish there were more (pitbull) attys around advocating for the distressed homeowners as a class, as a nation, instead of the burden still being on distressed homeowners to fight, case by case, these corrupt, mammoth systems and institutions. It’s impossible to do it case by case. Just impossible. Ok – here’s my rant. We need a present day Ferdinand Pecora, Esq. (a prosecutorial pitbull who took Wall St. / banker fraudsters down after they helped to crash the stock market creating the Great Depression) and a real champion of the people (I don’t think they produce them anymore in law schools ). IMO law used to be a honorable profession. Instead, it’s been reduced to legal charades and tools for those in power. A huge percentage of the gov’t is made up of lawyers . Most politicians are also lawyers. So, the field has been reduced to being the cause of many of the problems average Americans find themselves in . I just wish the profession would get its act together and attract and produce more lawyers of character, strength and morals who will step up to the plate for average citizens (class action) to get REAL results at times in history such as today (instead of phony political posturing) vs. the usual narcissistic, greed driven types who help to destroy the country along with the bankers, Wall St. and the gov’t. Where are they ? Please, folks no comments about how they are all dogs. We’ve heard it all before. I’m just venting .
Whoops!
Attension Please Kind of Important I May Very Well Have Another Key Ingredient to effective approach especially in the area of “Lost or No Note” strategy , I’d Be Able to test out its theory but I just need a Little bit of help from a Licensed Attorney, Just Directing Me & Drafting an Amennded complaint for a Rescission “Claim” or motion for Discovery I Think I May Have Found A for Sure Way to make most of the “Where’s The Note” cases work. I’m willing to pay but I can’t provide a fortune seen as I have to substitute out my last attorney(who ate all my $$) and go it alone. Well offer’s on the Table
pippy52@verizon.net
Attension Please Kind of Important I May Very Well Have Another Key Ingredient to effective approach especially in the area of “Lost or No Note” strategy , I’d Be Able to test out its theory but I just need a Little bit of help from a Licensed Attorney, Just Directing Me & Drafting an Amennded complaint for a Rescission “Claim” or motion for Discovery I Think I May Have Found A for Sure Way to make most of the “Where’s The Note” cases work. I’m willing to pay but I can’t provide a fortune seen as I have to substitute out my last attorney(who ate all my $$) and go it alone. Well offer’s on the Table
pippy52@verizon.net
California sure could use some proven strategies that work in the field. There have been some wins, but this state seems to be way behind.
I was served with a foreclosure complaint. It lists a Trustee on behalf of a mortgage loan trust as the plaintiff.
I went to the SEC website to do some research, because my mortgage was not with the trustee or the trust (there was no assignment attached to the foreclosure complaint).
In filings with the SEC The trust states they are incorporated in Delaware. I searched the corporations website and could not find the trust’s registration. I called the Delaware corporations department and they did a search and said the trust/corporation is not registered in Deleware.
I also searched other states where I thought they may have been registered and came up with nothing.
Is it possible that the lawsuit is invalid, because the trust does not legally exist?
Also they have filed nothing with the SEC since 2006.
It “hides in plain sight.”
I am here to reaffirm.
Experts can have great value. I’m helping some former co-workers and employees put together an organization I’m forming for them – Lending Litigation Support Services, LLC. The parties will include, among others, David Springer an imaging and data management guru who oversaw the implementation of New Century’s “scan and shred” program intended to make marketing loans easier. The purpose of the program was, among other things, to save shipping costs which it did to the tune of about 400K per month. Of course it also meant there are NO original notes. I’m also bringing in, among others, a forensic appraiser, long time loan operations manager (origination, documentation and servicing) and credit analyst/underwriter with 40 years of such experience. I’m hopeful this organization will free me up to spend more time suing lenders. I will receive NO compensation from them for any referrals. Several of the participants could easily qualify as experts in their areas of expertise. Once assembled this organization should be a one-stop shop for ANY attorney who wants to start representing consumers facing unlawful foreclosures in CA and, in time, anywhere. It will give you, instantly, over 200 years of “loan” experience in every facet of the lending process.
Walter Hackett, Attorney at Law.
Re: Mark Terbeek / Attorney at Law:
An expert is an authority who does not give legal advice but may consult the matter under the attorneys authority on counsel. If required thetestimoney is submit to the court as relevant theory, scientific testimony, opine in accordance with acedemic understadning, evaluate evidence, compile data for counsel to submit and provide relevant information in support or contra to the arguments made in any matter.
Regarding Rule 702 and Daubert v. Merrell Dow Pharmaceuticals Inc., 509 U.S. 579, 589, The courts ruling set a precedent placing an obligation on federal judges to determine that scientific testimony is relevant and reliable.
The four criterion utilized are testability,
1) peer review of theory or technique,
2) potential error rate,
3) industry standards and
4) general acceptability in the industry.
In the case of Kumho Tire Co. v. Carmichael (97-1709) 526 U.S. 137 (1999) 131 F.3d 1433, reversed, the Eleventh Circuit court held that the District Court erred in that Daubert was limited to a scientific context and did not apply to the expert testimony in this case, which it characterized as skill- or experience-based.
The attorneys are free to use more than one witness specific to the request and registration with an approved service is recomended to avoid conflicts with limitations on services rendered.
msoliman
admin@borrowerhotline,com
I have an important question I would appreciate answered by ANY blogger or attorney.
When I research the securitized trust that our mortgage was assigned to with the SEC, I find that their last filing dated 01/2006 bears the heading “CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER (12)G OF THE SECURITIES EXCHANGE ACT OF 1934 …”
Please educate me as to the relavence or purpose of this filing … Was this trust dissolved in 01/2006 and is no longer an existing viable entity???
If that is the case, who then is the holder in due course with no further recorded assignments? The Servicer?
If the Trust has ceased doing business, what other forms or information should I be looking for to confirm it’s current status?
Mark Terbeek
Attorney at Law
510-919-8623
To Date: Multiple cases won for NLS and Counsel for clients at the UD level including rare judgements in a UD in favor for the defendant. Biggest hit was a recent $1 million case we prevailed in a difficult court jurisdiction against Duetsche Bank.
Demeanor: Easy going and intensive questioning leading to a bull dog change in personality at time of entering the courtroom.
Questions: Very overoworked but hard working.
msoliman
admin@borrowerhotline.com
in reguards to loan mods, if you are given a mod that you truly can afford and the terms are good and you are wwilling to sign off that you can NEVER sue anyone, that is ok. My WAMU loan mod was asking a second person to sign the note and a witness signature putting him in past tense at the closing table( were he never was). And they also wanted a statment saying that he contributed 100% of his income to my debit, watch what you sign, read it 100 times and get a civil law or consumer law atty to help you not a real estate atty. learning the hard way
qrw, debit validation letter,forenic audit, got it. how about that quite title thing ? I also found a very interesting piece of somthing while in the regisrty of deeds. my primary homes deed was rerecorded 7 months after the predtitory loan was recorded and is now on a different book and page, I also redid a homestead around the same date, if I move this deed into a nothers name is this a good block, or do they even have it now?
Important ORDER in the Supreme Court of South Carolina stopping all foreclosures pending in the state.
http://www.judicial.state.sc.us/courtOrders/displayOrder.cfm?orderNo=2009-05-04-01
Mr. Soliman:
You said…
“That will lead to substantiating the failure of the Trust and vulnerability for calling the Trust to be in default.”
If a mortgage backed security trust has has defaulted what happens to all the loans that make up the trust?
What benefit does a borrower receive because their MBS trust has defaulted?
Thank you for you reply, I too am trying to make sense of all this.
MJ
Thank you for all your support.
Kop is taking a huge chance and he must (does) know something. Stay tuned.
The recent alignment with other legal professionals is a breakthrough. In a similar effort we are aligned with expert counsel that includes a memeber of a past presidential adminsitration defense team.
I will take credit for submiting the obvious short fall for the Pass-through Trust where it is operating using one specific and verifiable deceptive practice that will in fact show a complete disregard for the SEC and 10K reporting disclosure requriements.
I never said to attack the Trust structure MERS included . . . .its the deceptive practices under an SEC registration that will show certificate holders were receiving earnings manipulated by one or more of the SPV’s. That will lead to substatntiating the failure of the Trust and vulnerability for calling the Trust to be in default.
Next, we just received an offer from opposing Counsel representing HSBC to settle a claim and withdraw the lawsuit our borrower filed with counsel under a LSAA. (pro per). Here, another borrower is given a concession in lieu of litigation . . . .another major lender will issue loan documents cut the principal by over $500,000 today under TARP and stipulate “borrower will never leave their home”.
In the meantime an investigation into the breakin to our offices and recent disrutpion and effort to enjoin certain web sites in creating an atmosphere of unfair comptetion intended soley to discredit us is underway.
If and friend Garfield allows this to get posted I will be surprised.
Good luck to all!
MSoliman
Hi, All
In need of an Attorney in Rhode Island that gets it. Please any help would be greatly appreciated.
I have just dropped the FBOMB in San Jose, CA. Operative key word to be spoken in Bankruptcy Court, of course a Federal Court of which I am an officer, is ~~~
PERJURY BY THE LENDER.
I predict that there will not only be no evidentiary hearing, but I will not need to file ANY BRIEFS AND SUPPORTING EVIDENCE.
Thank you Maher Soliman for permitting me to be Spearpoint for your shaft. (I have a girlfriend by the way, Maher)
The Launch Codes Have Been Initiated. Google
Minute Man III Test Launch, sit back, and enjoy.
Death From Above.
Peace Out.
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
Steven,
That is excellent news. If he has the credentials you mention then it is very likely I will have met him or know him personally.
On the front lines we received some WONDERFUL news today. A demurrer to my first amended complaint in a case I filed last JULY was OVERRULED and the defendant, Greenpoint Mortgage, has been ordered to file its Answer within 15 days. This is the first such case in which we’ve FINALLY overcome the paper mills’ insistence on burying us with paper.
Walter Hackett, Attorney at Law
I am please to announce a coming attraction. I am engaged in negotiations to enlist the consulting services (he is not a litigator) of one of the country’s finest banking attorneys. He has served as General Counsel for one of Los Angeles’ premiere regional banks. His former partnership was IMHO first among equals in the banking industry. He is dual licensed, and a mortgage broker/banker (mostly commercial).
He is a gentleman, scholar, and importantly, a businessman who knows you start with the endgame and reverse engineer everything from that.
He will provide my firm regulatory compliance analysis, strategic case analysis and litigation and trial, and where required, appellate case management. That is one of the critical tasks of GC.
When concluded, I will make his CV available upon request.
I am contemplating constructing (of course I have it) Trailmap Out Of The Dark Lands and making it available for a modest (in view of my skillsets and time investment) fee.
I am, IMHO, smarter than the average bear.
peace out, and happy hunting.
Steven K. Kop
Attorney at Law
and Mortgage Destructor
bluejaylaw@gmail.com
M Soliman… how can I find A Kulack or M Terbeek!? Thank you,
Gina
San Jose, CA
Bart: excellent work!! Now go after them with forensic review, QWR (Qualified Written Request) and DVL (Debt Validation Letter).
Jose Hernandez: See a lawyer who knows what he is doing in your jurisdiction. If things have not progressed too far you can probably back out and go after them.
Jose:
I assume that you can afford that loan mod? So right now, you can stay in your home & I hope that gives you piece of mind.
Would you really want to back out and be in foreclosure? Maybe it’s different for you because you’re in a judicial state. The wolves have got the $$$ to hire the best lawyers from the best schools. As former NFL coach Bill Parcells told a young rookie, “Their coming in this league”.
You just never really know what that judge is going to do. Will you get a knowledgeable and honest judge?
Litigation is not cheap and a lawyer who works out at my gym gave me his opinion that the legal system is for people with money and designed to make lawyers wealthy.
Congrats on keeping your home. In any event, your mileage may vary; objects may be closer than they appear; close cover before striking.
If you go the lawyer route, get local counsel who has a killer instinct.
I just accepted a loan modification from Countrywide. They gave me an interest only rate for 3 years and place the missed payments on top of loan. My first payment is due for June 01, 2009. After reading here, I ma having seconds thoughts about accepting mod. Can I back out and go after them for preditory lending. Please advise. thanks again
well I had a forclosure sale yesterday at 3pm, early in the am I armed myself with the plot plan, the ORIGINAL title policy to to agent not the new version that Harmon Law firm has, and evidence that the sercurity instument is a maily vacant lot that has a very small portion of a huse on it. This cancelled the sale….for now, but I know the beast will raise his head again and very soon, what next???? I still have one more investment there to protect and then there is my primary home that I will do anything to protect and have been but thur just about everything in the past month to do so. I called the atty for the lenders and he would not talk to me just stated thur his paralegal ” I will call very early next Monday” another sale post in thie Sunday paper?????
thank you steven.!!!
well said…i knew when we met you were “game on”
Maher Soliman is another point i believe you are spot on about.
imho he is a wealth of pertinent info .[only knowing this myself by reading his site&posts]
also thank you neil for all your effort here
Look for it, because I dont see it here and dont have time to find the links.
A bankruptcy attorney not only had numerous cases based upon the so-called “lost note defense” dismissed, but he was also sanctioned $40,000 for doing so. “the dog ate my promissory note” (c) defense is a chess game without an end game, as I have so many times noted here.
Unwarranted, unsupportable defenses resulting only in delay WILL get you sanctioned is the moral of this story.
Dispell the FOG OF WAR. Know your endgame.
Peace out.
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
Neil – I am an independent attorney. I am independent in the sense I am a sole practioner. I am not in a firm of attorneys (partners), nor hired by attorneys (associates), Nor am I hired by any company, including NLS (Nationwide Loan Services).
Previously, I was a “business attorney” who did not have a “retail” practice. I did not advertise for, nor accepted representation of “consumer” cases in bankruptcy or consumer related litigation. I am a bankruptcy and trial attorney. Because of the exigency of the times, I now offer my (IMHO) unique (29 yrs of mortgage litigation, jury trial practice and bankruptcy) services for hire by consumer clients.
Recently, within the past two months, a client referred me to Maher Soliman as a potential expert witness. After speaking with Mr. Soliman, I knew within 5 minutes that he possessed extraordinary knowledge and experience not only in mortgage law, but the securitized mortgage industry unparalleled by any other “expert witness” I had previously encountered.
My client, and several others, has retained Maher to serve as an expert witness in their cases. I have no other relationship with Mr. Maher or NLS, other than that they have referred many potential and present clients to me.
Because very few clients can afford my or any other lawyers of my skill level ($600/hr, $400 discounted for consumers) on an hourly basis, I find that the ONLY cost effective approach to resolving foreclosure facing clients problems is BANKRUPTCY. For $50,000 to $150,000 I am quite willing to accept a case to fight in state or federal trial court. The clients that can afford these fees can afford injunction bonds, costs of appeals, deposition costs, etc.
Otherwise, it is foolhardy and, IMHO, malpractice for an attorney to lead clients unable to afford this freight into these lions dens, unless on a contingent fee basis, and also be prepared for a two year or longer war. I will not take trial court cases on a contingent fee basis, no matter how meritorious, for these reasons.
I will take partial contingent fee cases in what I call on my webblog “The Bankruptcy Express to Mortgage Freedom.” This process I anticipate with take approximately 4 to 6 months, perhaps longer, but I anticipate shorter in most cases. I offer the contingency because I KNOW THE LAW and am confident (thought I cant control all variables and offer no guarantee) in getting results.
A primary reason I did not previously engage in a consumer practice previously is the lack of sophistication, and honestly, ignorance of consumer clients. 29 years of practice without a single complaint to the State Bar of California is not coincidence.
The massive frauds perpetrated by Wall Street in the securitization of mortgages leaves borrowers facing enormously complex legal challenges. I have invested countless sleepless nights working with Maher, unpaid in essence, because the cash fees paid by his clients and mine do not even remotely cover our actual hours and costs unraveling that Gordian Knot, and dispelling the Fog of War created intentionally by the MERS and other deceitful device.
Two nights ago, we COMPLETED (99%) IMHO) the analysis. Finally. Article 9 Automatic Perfection (or lack thereof). Hypothecation. Intercreditor agreements. NOT A SALE. These are critical keys.
Maher is the only Industry “snitch” that I know who is willing to testify and TELL ALL. I am classmate and, at least for a period in our lives, best friend, to the former Chairman/CEO of BancAmerica Securities. My family members are or have been bond hedge fund managers. I will, if compelled to, subpena them. Tney will take the FIFTH AMENDMENT RIGHT NOT TO INCRIMINATE THEMSELVES. Only prosecutorial immunity will compel them to sing, and I am not confident that is forthcoming.
Consequently, there is ONLY Maher Soliman.
I am not here to interject myself into any NLS controversy.
However, I am here to observe, since I spend many many hours at Maher’s offices working with him for my clients, that many NLS – and other foreclosure victims – are so desperate that they resort to horrifically desperate and irrational measures. I will attest to these unpriviledged matters under oath.
Wall Street counts on this. To turn each one against the other. To create FOG OF WAR, confusion, chaos, paranoia, and CANNABALISM.
“Death Before Dishonor” is not only a Marine Corp motto.
Respectfully
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
Messr. Soliman,
In response to your comment “The note argument is nothing to invest in from a class action perspective,” I COMPLETELY agree. However most of my clients are trying to save their homes and we have found NO cases in which a class action was ultimately successful in accomplishing this. We ARE planning to file a quasi-class 17200 action against MERS that MAY effectively eviscerate EVERY non-judicial foreclosure involving MERS in the state of California but that war will be ultimately won at the Appellate Level. Beyond that the distinction between “show me the note” and “who’s the beneficiary” is one that California law has made since 1855 ergo is NOT a matter of semantics.
With all due respect,
Walter Hackett, Attorney at Law.
Hi Bart,
I would be happy to review your mortgage documents. I am working now with 4 cases in MA.
Contact me at my email address below…
Mortgage Audits
oliver@ipa.net
john
my primary home is in jeporty now, the servicer offered a loan mod that was ladden with consumer law violations. Insisting that another person to be added to assume the debt and asking for a witness to their signature, as well as back dating the mod paperwork to sept 1st when it was sent sent 4th and wanting a return by set 11th. It was signed in pure duress after the servicer intimidated and cowursed me into it. then the we are cancaling your loan mod letter came in the mail. I did not make another paymemt over this letter. I did speak with the servicer a cuople times on it but then faxed a final reciction letter to the bank. I now belive that they are in the process of forclouser because I got the one way empty voice mail message on the 30th from the servicer. I am in a judicial state, and I refuse to declare bankrupsty, I need an atty to help me with a restaining order against the lender and the servicer and to get my forclosure in front of a judge in a jury trial, I want all parties present as well as this loan is deemed as preditory lending. hepl asap please. I am in Mass.
msoliman, you are killing me, I am LMFAO, your logic is spot on. you stated
“My concern for the parties involved is the “state” of the note which is almost always disturbed in a challenge to a pass-thru trust” .
Isn’t it also true that if if the trust is to file foreclosure that they must have a majority approval of the trust and that all legal costs regarding the law suit are then the responsibility of the trust not the defendant?
My question has been “how can one foreclose on an instrument “note” that they can not or do not have possession of and thereby how can it be enforced if it can not be proven in effect? How can one have “perfection” when there is proof of “imperfection”
Just asking please clarify my thoughts as I am trying to sort out the mess of this whole process
THIS IS BECOMING A LAW SCHOOL SITE -RECITALS OF CASE LAW ON & OLD BORING TOPICS!
ITS NO LONGER ABOUT BEATING THE BENY? (WHOEVER IT IS)
The note argument is nothing to invest in from a class action perspective. It is a compelling argument. I state again from experience and for the record that a misunderstanding is from a Wall Street phrase “The Note is lost [to the holder in a Trust who is a FSB - ask Bernanke ].
Since I am not a lawyer let it go (after 20 years of listening and seeing first hand insider scamming, I might know a thing or two crystal ballers) . In the meantime go look in the alleys and sewers within 10 mi of the nearest trustee.
I will tell you the note is lost to the plaintiff in a UD hearing and take that to the bank. It is needed to address standing in a lower court. Where Jurisdiction does not come into play you can win on the argument.
We recently won a judgement as a defendant in a UD hearing using this same argument (Mark Terbeek Counsel No California ) But were done at the UD level as our fight is about ownership and not occupancy (what a waste of time cash and law school).
My concern for the parties involved is the “state” of the note which is almost always disturbed in a challenge to a pass-thru trust . If there is pending or bankruptcy or other civil or Fed action that lays claim to the beneficiary, etc etc.
And, the live attached endorsement and Jurat must include a Notory supeona and interogatories. Question authenticitiy of the assignment given the blank assignments and endorsements floating around.
Want something to peek your interest ? Perry Como, Dragnet returns and MERS and Note drama are old.
See the trust indenture and read whereby the Depositor can in fact possess at all times blank endorsements and completed unexecuted assignements pending recordation – - – the Note is thereby physically lost until that time the blanks are completed and oops! . . . .got to go!
admin@borrowerhotlne.com
msoliman
Don,
The “Show me the Note” argument lost because the statute doesn’t require a foreclosing trustee possess the note. It DOES require that a Trustee, Beneficiary OR agent of either ACTUALLY BE the Trustee, Beneficiary OR agent. See Peters v. Jamestown Bridge (1855) CA Supreme Court and read with Bufford’s ruling in In Re: Vargas (see also Civil Code section 2936). Also, CC section 2924(a)(1)(C) specifies the BENEFICIARY must declare a default unlike section 2924 which states Beneficiary, Trustee or Agent thereof. The plain language of the statute combined with 154 years of CA Jurisprudence mean MERS is NOT and NEVER can be a beneficiary of a CA DOT.
Walter Hackett, Attorney at Law
Gina
A Kulack or M Terbeek! – if either will take the matter under consideration. Each is in the know and bored with all this Pass-through Trust “get-some” chit-chat attacking the low hanging “fog”.
They are capable and I have no incentive to recommend where if motivated – each will argue the merits of the case with relentless determination and no fear.
admin@borrowerhotline.com
msoliman
I saw the man in court and woe to the party that cannot substatiteits standing in a court of law.
Really, he’s that good!
The produce the note strategy in non-judicials seems like a lost cause. In California Trust Co. v Smead Investment Co., 6 Cal.App.2d 432, 435 (1935) the party seeking to invalidate a foreclosure
sale argued that the sale was invalid because the beneficiary of the promissory note failed to transfer possession of it to the trustee.
The holder in due course and sufficiency for establishing authenticity for attached endorsements and assignments cause this “Bonnie and Clyde” case law to be out of touch.
admin@borrowerhotline.com
msoliman
The NOD cannot record before the “Substitution” of Trustee if it appears the Substitute initiated and constructed the document.
An effective date is meaningless as to the race to record.
Therein can the Non-judicial foreclosure be challanged in a one action state. The rescission should establish the grounds to file an action as plaintiff and to consolidate the matter to a judicial proceeding.
[A common practice with nonjudicial foreclosures is to have a new trustee sign a Notice of Default as agent for the beneficiary and to later substitute the trustee pursuant to the requirements of Civil Code ß 2934a. Fannie Mae issued Release 98-06 to its service providers. Release 98-06 required that, in nonjudicial foreclosures in California, any substitutions of trustees must be recorded prior to the recordation of the notice of default.; and that the notice of default must not be prepared and recorded by a person or entity that was not the trustee of record.
msoliman
admin@borrowerhotline.com
Don and Dear readers:
Let me help you out. My gift to humanity, so to speak.
http://www.firstam.com/landsakes/html/email/062503assi.html
“produce the note” has always been a Trojan Horse defense for anyone who knows real estate transactions. Chess strategy without an end game is mere mental masturbation.
Coffee is for closers.
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
Thanks for the clarification Walter.
As a non attorney researching the next step if our “servicer” doesn’t grant a loan mod, it seems like CH 13 BK is the only other option. Thanks to a “vexatious” litigant here in CA, Judge Real & Judge Larson (CA Central District) dismissed a bunch of produce the note cases. The produce the note strategy in non-judicials seems like a lost cause. In California Trust Co. v Smead Investment Co., 6 Cal.App.2d 432, 435 (1935) the party seeking to invalidate a foreclosure
sale argued that the sale was invalid because the beneficiary of the promissory note failed to transfer possession of it to the trustee. The court of appeal rejected the argument & held that symbolic delivery was sufficient.
United States District Court “the allegation that the trustee did not have the original note or had not received it is insufficient to render the foreclosure proceeding invalid.” Neal v. Juarez, 2007 WL 2140640. *8(S.D. Cal. 2007)
Don,
For starters the statutes were amended last July to include sections 2923.5 and 2923.6. Beyond that your statement “I think attorney’s in CA would agree that it is extremely rare that lenders/servicers/trustees violate the exhaustive & comprehensive statutory framework that goven non-judicial foreclosures” is UTTERLY wrong. In my opinion, both as a CA attorney AND as a 27 year banker, is that the VAST MAJORITY of all non-judicial foreclosures commenced or concluded in the last 6 years COMPLETELY violate the non-judicial foreclosure statutes.
Walter Hackett, Attorney at Law
California’s non-judicial foreclosure process is governed by Civil Code sections 2924 through 2924k.
So is it safe to say that the only challenge to a non-judicial foreclosure sale requires evidence of a failure
to comply with the procedural requirements for the foreclosure sale that caused prejudice to the person attacking the sale?
I think attorney’s in CA would agree that it is extremely rare that lenders/servicers/trustees violate the exhaustive & comprehensive statutory framework that goven non-judicial foreclosures
More Keys to the Highway:
Chattel Paper
Article 9, UCC
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
So, where do I find the most brutal, fighting, SOB attorney that will get JP Morgan Chase quaking in its boots. I don’t want the house — and sure don’t want to go through mutilation (aka modification)… Santa Clara County needs help… Where is the attorney that knows how to do this? Please let me know.
REALLY — not an attorney that kinda knows. I need the real deal.
Is there anyway to find out if a trust is still active or if has been dissolved or merged?
Specifically: First Franklin Mortgage Loan Trust Series 2005-Ff12
I am also trying to find out where the trust was formed. I thought Deleware, but I can’t find a corporate registration for it.
All I could find is they stopped filing with the SEC in 2006.
ALERT !! Mortgage/judicial foreclosure states lawyers PLEASE EMAIL OR CALL ME !!!!
We can help each other.
STEVEN K. KOP
Attorney at Law
bluejaylaw@gmail.com
310.869.0269 (new number)
California practitioners. A “gentle” reminder from the state bar:
ETHICS ALERT
Legal Services to Distressed Homeowners and Foreclosure Consultants on Loan Modifications
Committee on Professional Responsibility and Conduct
(February 2, 2009)
You have all read and heard about the residential mortgage crisis in California. In 2007,
roughly 84,000 California homeowners lost their homes in foreclosure.1 Through the first three
quarters of 2008 alone, that number increased to over 190,000. During that same period, lenders
recorded nearly 330,000 notices of default on California home mortgages. Recording a notice of
default is the first step of a non-judicial foreclosure or trustee sale, the most common process in
California, which typically takes four to six months or more. In other words, the crisis seems far from over.
Seeing a business opportunity in this crisis, “foreclosure consultants” purport to offer distressed homeowners assistance in assessing their options and/or negotiating loan
modifications with their lenders.2 According to the California Legislature,
These foreclosure consultants, however, often charge high fees, the payment of
which is often secured by a deed of trust on the residence to be saved, and
perform no service or essentially a worthless service. Homeowners, relying on
the foreclosure consultants’ promises of help, take no other action, are diverted
from lawful businesses which could render beneficial services, and often lose
their homes, sometimes to the foreclosure consultants who purchase homes at a fraction of their value before the sale.
Vulnerable homeowners are increasingly relying on the services of foreclosure
consultants who advise the homeowner that the foreclosure consultant can obtain
the remaining funds from the foreclosure sale if the homeowner executes an
assignment of the surplus, a deed, or a power of attorney in favor of the
foreclosure consultant. This results in the homeowner paying an exorbitant fee
for a service when the homeowner could have obtained the remaining funds from
a trustee’s sale from the trustee directly for minimal cost if the homeowner had
1 See Reports on California Foreclosure Activity issued by DataQuick Information Systems, available at
http://www.dqnews.com/News/California/CA-Foreclosures/RRFor080422.aspx,
http://www.dqnews.com/News/California/CA-Foreclosures/RRFor080722.aspx, and
http://www.dqnews.com/News/California/CA-Foreclosures/RRFor081023.aspx.
2 Civil Code section 2945(a) defines “foreclosure consultant” as any person who performs for compensation certain services for a homeowner or makes any solicitation, representation, or offer to do so. The services include, for
example, stopping or postponing a foreclosure sale, obtaining forbearance from any beneficiary or mortgagee,
obtaining reinstatement of a loan obligation, obtaining an extension for reinstating a loan obligation, obtaining a
waiver of an acceleration clause, assisting the owner in getting a loan, and saving the owner’s residence from foreclosure. Civ. Code § 2945.1(a)(1)-(6) & (8). Section 2945.1(b) excludes from the definition of “foreclosure
consultant” certain types of people, including generally lawyers licensed in California. See Civ. Code § 2945.1(b)(1)).
consulted legal counsel or had sufficient time to receive notices from the trustee [ ] regarding how and where to make a claim for excess proceeds.3
To protect distressed homeowners, the Legislature has imposed numerous restrictions on
foreclosure consultants.4 For example, agreements with foreclosure consultants must be in
writing and contain specific disclosures.5 Also, foreclosure consultants are prohibited from
collecting a fee for any services until after the services have been fully performed.6 In addition,
distressed homeowners have a right in certain circumstances to rescind foreclosure consultant
agreements.7 These protections cannot be waived.8 The State Bar of California has posted a
news release that includes a link to consumer information on loan modification and foreclosures.9
There is evidence that some foreclosure consultants may be attempting to avoid the statutory prohibition on collecting a fee before any services have been rendered by having a
lawyer work with them in foreclosure consultations. Many of the proposed relationships
between these foreclosure consultants and lawyers violate the Rules of Professional Conduct and
other ethical rules and, therefore, could result in lawyer discipline.
The purpose of this Ethics Alert is to remind California lawyers of several ethics rules
that may apply in the event a foreclosure consultant or another non-lawyer requests assistance
from a lawyer and/or refers potential distressed homeowner clients to the lawyer.
• A California lawyer may not pay a referral or marketing fee to a foreclosure
consultant or other person for referring distressed homeowners to the lawyer.10
3 Civ. Code § 2945(a) (citation to another Civil Code provision omitted).
4 See, e.g., Civ. Code § 2945.4.
5 Civ. Code § 2945.3.
6 Civ. Code § 2945.4(a).
7 See Civ. Code § 2945.2.
8 Civ. Code § 2945.5.
9 To find the release, go to the State Bar’s home page at http://calbar.ca.gov. Look down the right hand column of
the home page for the links under “News.” Click on “News Releases.” Then click on “News Releases 2008.”
Finally, click on the link for the News Release dated October 8, 2008 entitled “State Bar and Public Interest
Clearinghouse Offer Foreclosure Help for Consumers.” Among other things, this release identifies, and includes a
link to, http://www.ForeclosureInfoCA.org, a site that offers general information for consumers on mortgages and loans, such as how to avoid losing a home and where to go for assistance when foreclosure is a possibility.
10 E.g., Cal. Rules of Prof. Conduct rule 1-320(B) (“A member shall not compensate, give, or promise anything of value to any person or entity for the purpose of recommending or securing employment of the member or member’s
law firm by a client …”); see also Bus. & Prof. Code §§ 6151 & 6152 (prohibiting running and capping); Bus. &
Prof. Code § 6155 (“[N]o lawyer shall accept a referral of such potential clients” from any type of referral service
unless certain conditions are met, including registration of the referral service with the State Bar.). California
lawyers should be particularly mindful of the rules prohibiting the payment of referral fees if and when they are
approached by a foreclosure consultant. A foreclosure consultant may be tempted to propose that a lawyer pay the
consultant a fee in exchange for referring a homeowner client to circumvent Civil Code section 2945.4(a), which
prohibits a foreclosure consultant from collecting a fee from a distressed homeowner until the consultant’s services
have been completed. As noted above, a lawyer may not compensate another for a client referral.
• A California lawyer may not directly or indirectly split any attorney’s fees that the
lawyer earns from a distressed homeowner client with the foreclosure consultant or any other non-lawyer.11
• A California lawyer may not aid a foreclosure consultant or anyone else in the
unauthorized practice of law. A lawyer may not form a partnership or joint venture
with a foreclosure consultant or other non-lawyer if any of the activities of the
business would involve providing legal services. A lawyer may not, under the guise
of serving as in-house counsel for a foreclosure consultancy business, perform legal
services for a distressed homeowner.12
• A California lawyer may not contact in person or by telephone a distressed
homeowner referred to the lawyer by a foreclosure consultant or someone else
unless the lawyer has a family or prior professional relationship with the
homeowner. Nor may a lawyer direct another to do so on the lawyer’s behalf. A
lawyer, however, may write to a distressed homeowner who is a prospective client.13
11 See, e.g., Cal. Rules of Prof. Conduct rule 1-320(A) (“Neither a member nor a law firm shall directly or indirectly
share legal fees with a person who is not a lawyer…”); In the Matter of Francis E. Jones, III (Review Dept. 1993) 2
Cal. State Bar Ct. Rptr. 411 (lawyer suspended and placed on probation, inter alia, for paying to insurance agent one
quarter of client fees); In the Matter of Robert B. Scapa and Michael S. Brown (Review Dept. 1993) 2 Cal. State Bar Ct. Rptr. 635 (lawyers suspended and placed on probation, inter alia, for paying ex-salesman, ex-police officer and
other non-lawyers a portion of fees generated from settlements for clients identified by them); In the Matter of Lawrence Crawford Bragg, (Review Dept. 1997) 3 Cal. State Bar Ct. Rptr. 615 (lawyer aided insurance adjuster,
who evaluated whether to accept clients for lawyer, negotiated and settled pre-litigation claims with insurers, and
occasionally filed lawsuits in lawyer’s name, in unauthorized practice of law); compare Cal. State Bar Formal Opn.
No. 1987-91 (insurance company’s “captive” law firm not engaged in fee splitting because no legal fees paid by
insureds); Cal. Rules of Prof. Conduct rule 2-200(A) & (B) (permitting lawyer, under certain circumstances, to split
fees with another lawyer).
12 See, e.g., Cal. Rules of Prof. Conduct rule 1-300(A) (“A member shall not aid any person or entity in the
unauthorized practice of law.”); Cal. Rules of Prof. Conduct rule 1-310 (“A member shall not form a partnership with a person who is not a lawyer if any of the activities of that partnership consist of the practice of law.”); see also L.A. County Bar Ass’n Formal Opn. No. 510 (fee sharing with financial planning company); In re Carlos (Bankr. C.D. Cal. 1998) 227 B.R. 535, 538-39 (paralegal engaged in unauthorized practice of law by negotiating
reaffirmation agreements); In the Matter of Francis E. Jones, III, supra, 2 Cal. State Bar Ct. Rptr. 411 (lawyer
suspended and placed on probation, inter alia, for engaging in legal business with insurance agent); In the Matter of Robert B. Scapa and Michael S. Brown, supra, ) 2 Cal. State Bar Ct. Rptr. 635 (lawyers suspended and placed on
probation, inter alia, for opening office staffed solely by non-lawyers who explained retainer agreements and fee
arrange