Goldman takes on new role: taking people’s homes

By Greg Gordon, McClatchy Newspapers Greg Gordon, Mcclatchy Newspapers
Mon Nov 2, 6:00 am ET
SAN JOSE, Calif. — When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments and experienced firsthand the perils of subprime mortgages.
The couple wound up in a desperate, six-year fight to keep their [...]

Multiple Tsunamis of Defaults and Crises Seen Resulting from Failure of Finance Reform

Editor’s Note: It’s hard to imagine that we could have been any more scared than we were a year ago when it looked like we were going over a cliff. And yet we wasted the crisis and continue business as usual despite dire warnings from Simon Johnson (see article below) who has the prospective of [...]

No FIX WITHOUT THE TRUTH ABOUT SECURITIZED MORTGAGES

Editor’s Note: They just WON’T get it. Of course they will need a bailout because prices must continue to go down. Just look at the Schiller index that removes inflation from the price of housing and compares it to median income. A child could see where this is going and Washington is covering its eyes [...]

United States is a stockholder of MERS

FYI – Fannie Mae and Freddie Mac became owned by and part of the United States on September 6, 2008 when FHA took them over.  Consider the implications to any cause of action(s), constitutional or otherwise, and defenses, if the United States is a stock holder of MERS.  In professor Christopher Peterson’s work entitled “FORECLOSURE, [...]

Where Has All the Money Gone – Short Time Passing

The Reno Class Action attorneys and others, including Elizabeth Warren, Chairwomen of the Congressional Oversight Committee, want to know where this money went, whether it satisfied obligations, and whether the obligations satisfied inure to the benefit of homeowners who purchased loan products from a Ponzi securitization scheme or otherwise. $13 trillion in mortgages were issued [...]

Modification Fraud — the latest game in town

Here is a good article from NYT but once again they are describing the news instead of reporting it. No investigation. Why do you think that servicers et al are not REALLY interested in modifying your mortgage? Why do you think they want you to believe that you are “in process” for mortgage modification when [...]

Real Consumer Protection: New York Times Gets it Right This Time

June 24, 2009
Editorial
Real Consumer Protection

The federal consumer protection system failed the country, disastrously, in the years leading up to the mortgage crisis. One big cause was the sharing of responsibility for compliance with laws and regulations among several agencies that communicate poorly with each other and tend to put the bankers’ interests first and consumer [...]

Media picks up on evil business practices of servicers: Watch These Videos

HOMEOWNER FIGHTS AND WINS WITH ACORN: watch
HOMEOWNER FIGHTS AND WINS ON PRODUCE THE NOTE: watch

BLACKMAIL: NO LATE PAYMENTS? NO PROBLEM. GET OUT!: watch
PRODUCE THE NOTE: WHEN THE BANK LOST OR DESTROYED THE EVIDENCE: watch
“EVERYONE SHOULD PUT THE ‘LENDER’ TO TASK”: watch
Servicers do everything they can to keep loans in default, make money on foreclosures too: watch
FED BAILOUT [...]

Terrific resources to watch: These will help you

First From Comments: mers-info-excellent-submission-and-discovery
And second: take a look at this site, which is under attack by Goldman Sachs for telling the truth and raising good questions. Goldman Masters of the Unvierse are going to try to shut it down. www.goldmansachs666.com

The elephant in the living room: What is the Federal Government Buying?

The article below by Andrew Rosenfield is an excellent summary of the problems and contradictions facing the Obama administration. But it misses the same point that everyone has failed to ask about. If the intent was to sell the loans to investors and Wall Street took money for that sale, then we must assume that [...]