Why Did the Banks Need to Falsify and Forge Fabricated Documents?

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The investors who purchased David Stern’s foreclosure mill have taken the extraordinary step of announcing publicly that they had been duped into buying a “criminal enterprise.” Obviously they didn’t want to get caught up in the dragnet of prosecutors looking for convictions. Nobody would spend $60 million like these investors did and then announce to the world that not only was it worthless, it was worse than worthless. It turns out that once they owned it they discovered that the entire enterprise was based upon criminal and other illegal or improper acts. It will soon be obvious that virtually all the foreclosure mills operated identically to Stern because they were owned and operated by the same people.

Those criminal acts were all about pushing foreclosures through the system. The end result of foreclosure is that somebody gets the house upon entry of a “credit bid” which is to say that they don’t pay cash, they just submit a “bid” based upon the fact that the property was the collateral for money that was due them. Since Stern was not taking the homes, and it is obvious that others were taking the homes, the question is why did they need to go through all those gyrations and subject themselves to prison time if the mortgages were legitimate?

I think the question answers itself. No Bank would require, allow or promote practices that were criminal acts in order to foreclose on an otherwise legitimate mortgage, note and obligation. The only reason why criminal acts were required was that the mortgages and foreclosures were a sham. At this point, with all the publicity about robo-signing, surrogate signing, forgeries, fabrications, back-dating etc., and the Banks’ protestations that these are the result of paperwork problems that emerged as a consequence of the volume of foreclosures, the Banks have had more than adequate time and opportunity to prove their case — that the mortgages were legitimate and the foreclosures were proper, subject only to resolving some minor paperwork errors.

That they have not done so corroborates the point I made 4 years ago. In most cases, at the time the mortgage documents were signed at “closing” the originator showing on the note and mortgage was not owed one cent — because they never made the loan. The originator was a paid straw-man. Somebody else made the loan but the paperwork does not even hint at that fact. That means the paperwork refers to a transaction with the originator that never occurred. The intermediaries who created this scheme made tons of money without reporting or accounting to either the investors or the borrowers. So it looks like the loan is still outstanding and due when in fact it has been paid several times over. Foreclosures only represented another payment in addition to the other multiple payments of the loan.

The actual source of the loan, as I have stated for years, was a group of institutional investors who were induced into buying bogus mortgage bonds thus creating a pool of money. The investment bankers took a huge bite out of that pool before they started funding mortgages. They did it contrary to the expectations and understanding of the investors and the ratings agencies. It was like buying a new car: as soon as you drive off the lot you lose a substantial amount of equity because now it is a used car. In this case, the Banks drove the money off a cliff and the investors were lucky to receive a few cents on the dollar they invested.

The fact that the mortgage documents refer to a transaction that never took place should be interpreted as a fatal defect in the documents as well as violating deceptive lending laws on the Federal (TILA) level and state level. That defect means or should be interpreted to mean that there is no lien on any of those homes and it can’t be corrected without getting a signature from the homeowner or a court order clearing title. The Banks know as much as I do about all this. In fact they know more than I do and they know exactly how to clear title.

They couldn’t go back to the homeowner because the homeowner now knew what was unknown at closing — that the deal was toxic and stupid and couldn’t work. The Court would enter the order the Banks required if they proved that the requirements of law had been met in establishing a mortgage loan. They can’t. So they are left with (a) an unsecured PAID loan to an unknown creditor and (b) liability for fraud. And they can’t fix it.

So they started foreclosing and in order to do so they needed to finesse the borrowers and the Court system with documents that looked right but were pure fabrication. Millions of these foreclosures took place and the Judges who rubber-stamped them never bothered to look at whether the paperwork actually made sense. Now, like to or not, all those foreclosures need to be reviewed for fatal errors. And homeowners, getting wise to the fact that they might still legally own homes they were kicked out of years ago, are visiting lawyers to see what can be done to recover the property. My guess, is that the tide has turned. That means homes are going to be returned to homeowners. In turn that means the value attributed to the mortgage backed securities have also been false and that requires a significant write-down of non-existent assets.

The write-down of assets on the balance sheets of the Banks (which after all are not really banks) will diminish their capital to a point well under the reserve requirements by any standards whether FED, Basil or otherwise. The only real question left is whether we will act as a nation of laws or of men. If we are a nation of laws the fraudulent transfer of wealth from the populace to the banks will be reversed and the economy will start humming again. If we are a nation of men, then we must recognize that a coup d’etat has occurred and we no longer have the government or the society we thought we had.

 

57 Responses

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  2. AFFIDAVIT OF DANIELLE STERLING–SHE DID NOT ENDORSE THE NOTE–IN JUNK V CITI

    NOT HER!! BUT SOMEBODY USED HER SIGNATURE

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  3. @angry and not taking it
    I just got back on the computer after about a seven week hiatus
    while I found a new rental apartment.

    The reason you think the fake money issue fails is because you are not fighting for the rights given to all of us and our property rights under our US Constitituion.

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  4. I ran out of room

    27. I have certified documents from the SEC for the Pooling and Servicing Agreement as well as the Prospectus. I requested the Master Loan Schedule but it was not sent.
    28. I do not believe that my Note is in the trust or was not properly endorsed into the trust. I have someone researching that for me.

    I will keep you posted. I will go to higher courts if necessary to expose the fraudulent Banksters, the servicers and their attorneys. I intend to keep my home. Later.

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  5. My servicer is Saxon Mortgage Servicing, Inc. The supposed investor that issued Lis Pendens is THE BANK OF NEW YOK MELLON, AS SUCCESSOR TRUSTEE UNDER NOVASTAR FUNDING SERIES 2005-2.
    1. SAXON TOLD ME TO GO LATE IN 11/07 AND THEY WOULD GIVE ME A LOAN MOD THROUGH HAMP
    2. WENT LATE AND THEY ISSUED A LOAN MOD IN 7/08 WITH JPMORGAN CHASE
    3. SENT CHECK FOR $1700.00 TO A LAW FIRM IN TEXAS. CHECK CASHED BUT JP MORGAN RFUSED TO SIGN LOAN MOD. SAID THEY DID NOT OWN THE LOAN.
    4. I DID NOT MAKE PAYMENTS BECAUSE SAXON COULD NOT TELL ME WHO OWNED THE LOAN.
    5. SAXON TOLD ME WACHOVIA OWNED THE LOAN BOTH ORALLY AND IN WRITTEN LETTER. I CALLED WACHOVIA. THEY NEVER HEARD OF ME. I DID NOT MAKE PAYMENTS.
    6. LIS PENDENS ISSUED 12/08
    7. RECRUITED TO A LAW FIRM BY A NON LAWYER. HIRED THE FIRM. NEVER TALKED TO AN ATTORNEY ONLY A NON LAWYER THAT GAVE ME BAD LEGAL ADVICE.
    8. LAW FIRM FILED MOTIONS, INTERROGATORIES, ETC. STATING THAT BONY HAD NO STANDING TO FORECLOSE. ASKED FOR CHAIN OF NOTE AND MORTGAGE. PLAINTIFF DENIED
    9. WAS TOLD NOT TO ATTEND HEARING IN MARCH, 2009 BY THE NON LAWYER. NO ATTORNEY APPEARED FOR ME. SUMMARY JUDGMENT GRANTED THE SAME DAY THAT THE PLAINTIFF FILED THE SUPPOSED ORIGINAL NOTE(MORE ABOUT THAT LATER)
    10. MAY, 2009, PLAINTIFF CANCELLLED THE FORECLOSURE SALE
    11. I ENTERED INTO A LOAN MOD WITH BONY. THEY DID SIGN THE AGREEMENT. I PAID $1350.00 FOR 7 MONTHS ON A HAMP TRIAL. SAXON SAID I DID NOT PAY ON TIME EVEN THOUGH I HAD PROOF. DENIED HAMP.
    12. I ENTERED INTO A SHORT SALE AGREEMENT IN MAY, 2010.
    THE APPRAISER THAT SAXON SENT OUT VALUED THE PROPERTY TOO HIGH. IT DID NOT SELL. ASKED FOR A REDUCTION IN PRICE AND AN EXTENSION AFTER THE LISTING WAS UP IN OCTOBER. DENIED.
    13. TRIED TO ENTER INTO NEW AGREEMENT IN JULY, 2011 AND NOV. 2011. SENT AND RESENT PAPERWORK MANY TIMES. SAXON SAID THEY NEVER GOT IT.
    14. EX PARTE MOTION TO RESCHEDULE FORECLOSURE SALE 11/11.
    15. MANY MOTIONS , AFFIDAVITS, FILED BY ME TO VACATE SHERIFF’S SALE BECAUSE OF FRAUD UPON THE COURT.
    16. PLAINTIFF FILED AN ASSIGNMENT OF MORTGAGE FROM MERS TO BONY WITH THE SUPPOSED ORIGINAL PAPERWORK IN 3/09. FIRST PAGE OF ASSIGNMENT HAS THE DATE OF 11/07. VERY STANDARD FORM WITH NO SIGNATURES, DATES OR NOTARIES. 2ND PAGE WAS SIGNED BY ALFONZO GREENE IN DAKOPTA COUNTY, MIN AND DATED 2/26/09.
    17. ATTORNEY FOR PLAINTIFF SAID THAT ASM DO NOT MATTER. THE MORTGAGE FOLLOWS THE NOTE. IF IT DIDN’T MATTER THEN WHY WAS IT SUBMITTED TO THE COURT?
    18. I ASKED FOR A HEARING TO VACATE THE SHERIFF’S SALE AND DISMISS THE SUMMARY JUDGMENT. HEARING WAS GRANTED 5 DAYS AFTER THE SALE. SALE 1/5/12. HEARING 1/10/12.
    19. PLAINTIFF’S ATTORNEY SAID THAT I HAD NO CASE AS TOO MUCH TIME HAD ELAPSED-MORE THAN A YEAR. I STATED THAT THERE IS NO STATUTE OF LIMITATIONS FOR FRAUD UPON THE COURT.
    20. JUDGE GRANTED A 60 DAY EXTENSION FOR CERTIFICATE OF TITLE.
    21. I CONTACTED BONY BEFORE THE SALE. THEY SENT ME AN EMAIL STATING THAT SAXON WAS THE ONLY ONE THAT COULD CANCEL OR DISMISS THE SALE AS THEY DO NOT PHYSICALLY OWN THE LOAN OR HAVE ANY SAY IN HOW THE PROPERTY IS DISPOSED.
    22. I HAD CONTACTED SAXON BEFORE THE SALE. THEY SENT ME A PACKAGE WHICH I RECEIVED ONE DAY AFTER THE SALE WITH A MYSTERIOUS ALLONGE SIGNED BUT NOT DATED BY THE INFAMOUS CRYSTAL MOORE. IT IS A SUPPOSED ALLONG E TO THE NOTE. IT HAS A BARCODE
    23. SAXON ALSO SENT ME MY ORIGINAL NOTE WHICH HAS NO ENDORSEMENT FROM NOVASTAR TO JP MORGAN CHASE.
    24. PLAINTIFF’S ATTORNEY FILED A SUPPOSED ORIGINALL NOTE WITH A RUBBER STAMP SHOWING THAT NOVASTAR ENDORESED THE NOTE WITHOUT RECOURSE TO JP MORGAN. NO ORIGINAL SIGNATURE OF NOVASTAR ON STAMP. STAMP HAS NO DATE.
    25. SAXON SENT ME A MILESTONE PAPER SHOWING THAT BONY BECAME THE INVESTOR FOR MY LOAN ON 11/15/11.
    26. I HAVE A PRINTOUT FROM MERS SHOWING THAT MY INVESTOR WAS JP MORGAN AS LATE AS 10/07/10.

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  6. THANK YOU Kathy!
    Kathy Charlotte, on January 5, 2012 at 8:07 pm said:
    @Colleen

    If your state is a lien theory state, (yes,it is) go to your county recorders office and find out if the title is still in your name. If it is …(yes, I got a cert. copy and we closed the circle so to speak by acknowledging, accepting and getting a cert. of authority of the notary in public records) get a copy of it and move back into your house. If the sheriff comes show him the deed showing that you are still the legal owner. My Prayers are with you & your family.

    The problem is there are people who bought our home-(they’re title is a “special warranty deed) so how do I inform them that they bought a stolen home?- I don’t “see” anywhere where people are addressing this!- This home is a vacation home ,but we owned it over 4 years and the people are not there full time. So how do I handle this without going to jail?

    Colleen

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  7. While I agree largely with the contention that the alleged loan funding originated from an undisclosed source other than the bank, and some articles have pointed out that the docs were pre-sold to investors even before the alleged borrower ever entered the bank, could you please consider and cover additional material regarding the promissory note itself in this transaction?
    Upon reading page 6 of “Modern Money Mechanics” (no longer printed by the Chicago Federal Reserve… but downloadable online) the fed makes it abundantly clear that in this debt money system such “p notes” are considered same equivalent as cash (FRN’s) or checkbook money, etc.
    There is a contention that it is/was actually your note, created by your signature that is the true source of the alleged loan funds (it should be pointed out that FRN’s are also “promissory notes” that will never be “paid”). The bank accepts your note, presumably as a ‘gift’ (no disclosure on that), deposits the funds in a transaction deposit account and that becoming an asset to the bank allows them to draft a checkbook money withdrawal to the benefit of the seller. Again, no consideration no risk on the part of the bank to justify the encumbrance upon the property.
    Can you clarify this assessment Neil?
    I’ve used this point among others in a hybredized administrative process to first weaken the banks defenses prior to litigating to resolution quite sucessfully. They squeal like the pigs they are once they become informed that the Deed of Trust has been ‘cancelled’ at the county recorders level. (I do not employ a somewhat lacking process utilized by one proactive anti-foreclosure group)
    Drop your e-mail here for further info.

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  8. Enraged, the light at the end of the tunnel WAS a train…the train of truth and it’s barrelling toward us.

    Although the documents owned by the purchasers of the criminal enterprise are not in OUR hands yet, if they’ve been published, cited or posted anywhere, that’s almost as good. Perhaps it’s only a matter of a little more time until we are all in posession of hard evidence we can wave in the judge’s face.
    Chase never completed my foreclosure. Now I know why. Guilty as charged, and they knew it was only a matter of a few months–the whole thing would blow after the foreclosure mills started dropping off the map. Like every other aspect of their scheme to rob everyone involved for as much as they could take, the ring of conspirators even tried to make money off of the sale of the foreclosure mill! Dumb move. How did they not see this coming?
    There are still a lot of questions I’d like answers to; how have the big players kept out of jail? Why do we still have a federal reserve when everyone knows it’s orchestrated every economic downturn since their criminal enterprise was signed into existence in 1933?
    Will those banksters who’ve fled be extradited back here for trial?
    Now that the banksters reign of terror is coming to an end, will we be able to eliminate the industrial military complex altogether, and take our country back? Will we be able to stop the fluoride, chlorine and drugs from making it into our water? The aluminum hydroxide and carcinogens from being sprayed in the skies over us? Stop the march of the unelected but powerful interests that are actively seeking to start WWIII for profit? Will be regain our civil liberties, our right to carry guns, our right to keep what we earn, instead of having to give it to the IRS as if it was a legitimate law that we have to pay income tax? Will we again be a nation of laws, a nation we can be proud of, whose citizens are free to pursue happiness, develop friendships with other countries without meddling in their affairs, a great nation of personal freedom?
    Of course the best question is, we will learn an indelible lesson from this whole terrible, dark chapter, or will we slack again at some point in the future and revisit bad history by allowing the bad men to set up another central bank system?

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  9. We discovered our payments weren’t even due to be started until 3-25-11.So all the payments we made from 8-1-05 to date were never required until the 3-25-11.We paid in advance and still got foreclosed on.Talk about a scam.

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  10. Have you seen what reaction might be–slander of title suit??? I dont know–im wondering–will you be a defendant?

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  11. did you use a forensic examiner——who were parties that might have benefitted from that doc creation? who was servicer

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  12. marilyn lane
    the lawful money argument will fail because we are already using or agreeing to use FRN not lawful money, this creates the assumption of intent and consent of the parties to negotiate. once agreed to negotiate if you didnt object [you signed=consent] then you agreed to pay [whatever term was used in the note re; FRN or money] for a loan you received. The banks case falls apart tho when the term”loan you received” as past tense before you signed or loan that was funded already before execution [this is no mistake] .
    this was misleading inasmuch as you a-greed to pay for a loan that never happen… “show me the loan”. Then the servicer claims for themselves – [thru tax doc] these loan funds as abandoned by borrower.

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  13. “if everyone stopped paying and closed his bank account.”

    Its an enticing idea, and I wish there were a way to completely disconnect from the world of electronic charges, however its not easy.

    Many employers REQUIRE direct deposit—IRS REQUIRES you keep money in the hands of MF Global to protect it from you as a pension asset—also the banks will seize it—-

    if you spend/deposit in accts [as in drugdealers laundering street cash], it requires the receiver financial institution to file an SAR on you—-Suspicious Activity Report—-an obvious reason—-seemingly –untaxed income?

    But the reverse is also true–the bank must file an SAR on you if you receive 10K or more in cash——-so they track your cash–im not sure exactly why this 2nd leg—–??

    how to pay electric? walk in?
    i guess–may all be there soon–like when in college—-cash economy—trades—–and if you put your cash in a deposit box–does the box get locked along with a failed bank?

    or bury money in cans around the backyard? like depression? like eastern europe today?

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  14. my note is fake they used the signature from my mod. not from closing. please they must think we are all dumb as door knobbs. iguess they are so use to dumb people.h

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  15. “Sharon Jordan (lower left) and her family (clockwise from top left: Rydell, Nikera and Anisha) are working with Bank of America and a Boston nonprofit to repurchase their duplex at its current market price — about half of the original value.
    text size A A A January 2, 2012 There’s an unfamiliar trend emerging in America’s troubled housing market: Big banks are volunteering to lose money — hundreds of millions of dollars for themselves and investors — in order to save homes at risk of foreclosure. And they’re doing it in record numbers.”

    by agreement with NAACP and an hispanic collective bargaining they are doing this —-sharon bless her heart is black if the picture is accurate,

    They obtained fair treatment by collective bargaing and if the reader is black or hispanic then jump on this with both feet—-if you are just a plain white person you have nobody bargaining for you. Get out of the house immediately or the sheriff will call in a swat team and carry you out–see Keith Sadler case in Ohio. Resist arrest by not walking to jail for trspassing on your own floor. justice is not blind here—-but some defendants are invisible

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  16. “The write-down of assets on the balance sheets of the Banks (which after all are not really banks) will diminish their capital to a point well under the reserve requirements by any standards whether FED, Basil or otherwise.”

    Please any comments would be appreciated. Cordray also used the word non-lender “bank”. I take umbrage with calling “indepedent servicers” any sort of bank.

    Indy-Servicers, especially, are simply self-described “collection agencies”. Collection agencies are basically on the borderline with loan sharks and associated legally predatory, intimidation-based collection operations. These collection agencies have purchased the residual value of forclosed homes plainly–and simply. They were relieved of most duties represented to investors in SEC filings–by bankruptcy court abandonments of duty obligations to make-up cash flows etc. They just get to seize homes as forfeitures–contractual windfall built into the system. with no oversight or reguluation as pretender banks. They seize the homes and proceed to liquidate them. They have insignificant cash flows from conventional payers compared to opportunities for gain upon seizure when for the sub and alt loans the trustee “abandons” the defaulted promissory notes. The servicer lays claim to the home’ proceeds most swiftly obtained–“seize and freeze” insurance schemes, sale to friendly flippers, stripping. “Liquidation” means conversion to removable cash..

    Servicers are not banks in any sense. They are not regulated as banks. Not National Associations. They do not take deposits, nor offer checking, or make loans. All the do is collect money. Despite decades of growing abuse, this sector is largely unregulated.

    Collection agency laws are supposed to apply. FDCPA etc. Thus state consumer protection should have kicked in when the federal role failed. A grant of a cause of action is not much help to a famuly worried about the roof overhead–food. But even with existing statutes and apparant rights to due process, the giant meatgrinder effect has overloaded the systems and factored in administrative expediance as an aid to the well-oiled collection agencies’ legal seizure frontline troops. The collection agencies’ heavy troops–contract lawfirms–including larger ones with political “influence”. The imbalance presumptively denies due process. This is the core issue–swift mass judgements on no facts is no justice.

    Faking documents to induce foreclosure is a symptom of the abuse. Mass production of documents, coupled with mass filings constitute an assault on the counties’ agencies to extend the impact of the impact of the semi-innocuous but fake documents into a larger and true intentioal fraud. Thhe entirety of this series of events, the pattern” followed by the “criminal synicate” is itself intimidation under FCPA.
    But it worsens. Individualized defenses and explanation/ disclosure of specific cases of egregious abuse are ignored in the compelling effort of govt to keep rolling–keep up the docket, court personnel,sheriffs sales, clerk of courts, county auditor, county recorder, sheriff “servicer” protection work more-harder-faster on limited budget. Feed the flippers. FEDERAL REVIEW OF ALL TRANSACTIONS IS NECESSARY TO RESTORE DUE PROCESS. Today various TBTF real banks are providing damages and homes to minorities, separate and apart from the Federal Reserve and OCC undertaking–itself flawed. These specific groups have received better-than-average- treatment because they have engaged in “collective bargaining”. The organizations that brought those actions complained of the same thing heard here all the time. I applaud those organizations and their constituencies. Their constituencies PAID for those representative groups–and got their money’s worth from collective bargaining–more equal bargaining power.

    I do not believe the case is based as much on discrimination based on color as about a huge imbalance in bargaining power between innocent borrowers and these meat-grinding machines–origination/securitization fraud-schemes. But nevertheless
    the case may be interpreted as discrimination-based. But today, in this country of equal rights, a pair of neighbors side by side, same homes, same loan terms, same broker, same innocence, same education, similarly treated by the collection agencies-servicers get vastly different treatment. The white one is foreclosed with great vigor and tossed by sheriffs into the street–while the collective organized groups get their homes back with damages—having received justice.

    My point is that justice has just begun to be accorded and we can thank the minority collective bargainers for forcing that admission–and the deal in itself –in this country gives rise to a separate cause of action for whites—-unequal treatment under 14th amendment in addition to the Denial of Due Process. Make no mistake the OCC etc are moving to eliminate this double failure by obtaining waivers. They have not taken into account what the ramifications to re-opened cases on title will be—the current occupants in most foreclosed properties are squatters–even if they signed a note.

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  17. iwantmynpv,

    Not exactly what you state below to Carie. Yes, the only thing transferred by the pooling was the right to cash flows. But, In subprime mortgages, only collection rights are transferred — no funding necessary (except for any cash-out). Nevertheless, these collection rights have cash flows as long as the borrower is paying. And, anything with a CURRENT cash flow can be securitized. What we have with subprime is securitization of collection rights “cash flows”. What we do not have, which is “true sale” securitization, is the removal of the current cash flows from a balance sheet.

    These collection rights cash flows are transferred by assignment from originator to Depositor to a “trust.” The trust certificates are then sold FIRST to the security underwriter. Both the Depositor and the security underwriter are, usually, subsidiaries of the parent “bank” that acquired the collection rights in the first place. The sale of certificates to the security underwriters is supposed to represent an accounting conversion of current asset cash balance sheet receivables into securities. But, with subprime the “cash flows” were never on the “banks” balance sheet to begin with — because they were only collection rights. Subprime securization could never be a “true sale” because we never had current assets to remove from a balance sheet. This is why the “chain” never shows a direct sale of loan originations to the parent bank. Remember, subsidiaries, including Depositors and Security Underwriters, balance sheets are consolidated with the parent – they do not have their own reported financial statements. Further, most of the tranche certificates (owned by the security underwriters) were not further sold directly to other entities (other than the GSEs), but, were utilized in derivative CDOs.

    All of this supports why, as the Fed Res states, the security investors and servicers are not your creditor.

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  18. The abominable banking system that is in place today, gives a bank great incentive to foreclose on an Ultra Vires contract, as the bank demands lawful money returned for the unlawful money lent.

    By what Authority are the Banks doing this? There is no authority for doing this. This is in complete prohibition to Art 1 Para 10 Cl1 of our US Constitution.

    All of our cases with slightly different facts all stem from the same Fraud.
    The Bank did not lend you ‘LAWFUL MONEY” but the Bank intentionally wrote
    a “bad check” and gave it to you –to circulate as “money”

    I certainly did not know this kind of fraud was going on when I signed my mortgage and note. Did you?

    The Mortgagor puts up a down payment, the Mortgagor pays a lot of fees and probably paid an attorney to represent them, all in order to get this “bad check”

    Would a Mortgagor have put in all that money, if one knew the truth of how the Banks ran their illegal business. I bet not.

    Did anyone notify you after that big day – the Bank’s check bounced – of course not. When the check that the Bank wrote came back to the Bank that wrote it, the bank didn’t say “we only have 5% , if that much and it was not stamped “insufficient funds” the bank stamped it “paid”

    So since the Bank did not have the money sitting in the bank’s account when they wrote the check, what the bank gave you is their credit.

    That is exactly what is prohibited by Art. 1 Para 10 Cl 1 of the US Constitution.

    What authority gives the Bank the right to make contracts with “bad checks”

    Nothing- Nada.

    “Lawful money” is needed to make a contract valid.

    Over and Over Mortgagors gave a Bank a mortgage on their castle , in return for a Bank giving you a credit entry on their books and charging you Interest on this credit. Also illegal.

    Did the Bank give you lawful money or is that what you got, credit?

    Banks are not allowed to lend their credit- Banks are in the business to lend
    “lawful money” There is not a Bank charter that allows a Bank to lend their credit.

    And as we continued to make monthly payments the Bank collected more money on their fraud.

    You try writing a check when you don’t have funds sitting in your account to cover it.
    You can be sure that check is coming back marked”insufficient funds” You are not allowed to do it and either is a Bank.

    This scam of Ultra Vire contracts caused injury to us, the true homeowners.

    In addition the banks are laundering “bad checks”.

    The Banks violate Truth in Lending Laws.

    The Banks are collecting Interest on money that doesn’t exist. (Lending you 5% and collecting Interest on 95% of thin air)

    And once the Bank gets their Ultra Vire contract going, they start flipping them to MERS, Securitizations , Wall Street, Title Companies etc. there is no shortage of people all wanting to get their piece of the illegal profits.

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  19. @Ann,

    2 years ago, people were begging the bank to give them a mod. Now, the opposite starts ringing true: people don’t pay and don’t want to sign anything with the bank. Banks can’t foreclose anymore without literally jumping through hoops: they don’t have the documents and judges are getting touch.

    Sweet justice at its best. It took 5 years. I knew it was a question of timing.

    How can we NOT believe in God? And things would be resolved much, much faster if everyone stopped paying and closed his bank account. You’d see government scramble to find a solution real fast!

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  20. In Mortgage Crisis, Some Banks Agree To Cut Losses
    by Aarti Shahani

    January 2, 2012

    Sharon Jordan and her family are working with Bank of America and a Boston nonprofit to repurchase their duplex at its current market price — about half of the original value.
    There’s an unfamiliar trend emerging in America’s troubled housing market: Big banks are volunteering to lose money — hundreds of millions of dollars for themselves and investors — in order to save homes at risk of foreclosure. And they’re doing it in record numbers.
    In 30 percent of private loan modifications last year, banks were doing a principal write-down — that is, hacking away at the amount owed, as far down as the current market value. They’re doing it so borrowers can actually afford payments. Two years ago, that 30 percent was just 2 percent.

    After The Housing Bubble

    Bank of America is leading the charge in Massachusetts. The Jordan family of Dorchester, Mass., is a Bank of America client. Sheila May Jordan, a nurse, bought her family house in 2006. She passed away four years later.

    Read more at http://www.npr.org/2012/01/02/143601604/in-mortgage-crisis-some-banks-agree-to-cut-losses

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  21. @javagold

    Re-record your Grant or Warranty Deed…with acknowledgement…and tell them all to go to HE**…

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  22. Jan–
    We can only reprint with permission from the author. In order to send the article to our AG’s, reps and congressmen, we must get permission to reprint and cite the author’s name, giving full credit for his work. What do you say, author? Can we send this gem to the neenerheads? (Except for Schniederman and a few other notable exceptions.) Four stamps will be the best money I’ve spent this year.

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  23. Whine whine whine—lets focus on some of the CEOs that have suffered humiliating failures and admitted eraly senility and memory loss– brain-dead. poor don Corzinni—complete memory lapse.

    All he can remember from those fateful last days as he was shoveling hundreds of millions of client funds out the door was the purchase of one or more Chateau in France where he was planning on getting away from it all —seeing that early retirement was days away.

    i mean how could you expect to remember details like authorizing billions transferred out–when you are trying to keep straight in your head how many rooms in each castle youv looked at—pressing questions like whether the garages are big enough for your exotic car collection? give the man a break–hes only subhuman.

    “As MF Global inched towards collapse, CEO Jon Corzine pre-occupied himself with a few other things — namely securing a chateau for him and his wife in the ritzy south of France.

    At a party in Paris on October 15 — just two weeks before MF Global filed for bankruptcy, costing more than 1,000 workers their jobs — Corzine and his wife, Sharon Elghanayan, were discussing a house they planned to purchase in the south of France, according to an upcoming report in Vanity Fair.

    “It’s not in Cap Ferrat,” one person at the party told Vanity Fair they recall Elghanayan saying in an effort to tone down the extravagance. Cap Ferrat is a coastal town in the south of France known for its lavish lifestyle.

    Though Corzine, a former Goldman Sachs CEO, governor of New Jersey and Senator, was able to scrounge up the money for a possible chateau purchase, he’s having a little bit more trouble tracking down MF Global clients’ money, much of which is still missing. Shortly after the company filed for bankruptcy on October 31 over risky bets on European debt that went disastrously wrong, hundreds of millions worth of customers’ money was discovered missing.

    Corzine, who resigned in early November after the firm’s collapse, told Congress of the lost client funds: “I simply do not know where the money is.” The missing funds have attracted the attention of the FBI and federal prosecutors, according to Reuters.

    Though shopping for a house presumably worth millions in France while your company is on the verge of bankruptcy may seem uniquely ridiculous, Corzine is not the first executive of a failing firm to spend lavishly. Indeed, it’s happened multiple times in the new millenium. Ken Lay, the former CEO of Enron, sold the company’s shares back to Enron to pay for luxuries like renting a private yacht, even as the energy giant was on the verge of collapse, according to a 2006 Reuters report.

    During the financial crisis, executives at bailed-out American International Group reportedly spent $86,000 on a hunting trip even as they asked for billions more in bailout funds from the Federal Reserve, according to CBS News.

    Like

  24. bkdbdg – you said “I put in the documents filed do you want to save the banks or the country.” That took guts. Kudos.

    Like

  25. I like j van eck’s idea. I would also send copies to the judiciary in your state. If begging were appropriate here, I’d beg people to do this: send it to your elected officials and your judges. Send other stuff. DO something. We readers are but a handful of the gazillions of people some of these messages and posts need to reach. You can prob cut and paste, as jan suggested, and then email. Won’t cost a dime. Alternatively, post the mailing addresses for the judges you would most like to get this and ‘other information’ targeted at ending these outrages, and I’ll see to it they get it. I swear. Okay, now I’m begging. This needs to be done. Will anyone take the few minutes this would take: 1) do it yourself or 2) post addresses? By the way, I’m still not on board with all Mr. G’s thoughts on the money trail, but it doesn’t matter, not even to me. As the post says, If there were not bs going on here, there would be no reason for all the lies and fraud and so on. It’s only logical.

    Like

  26. Well written Niel:

    We will see in my case. I put in the documents filed do you want to save the banks or the country. As I mentioned before they must up hold 250 years plus of property law or the world as we know it is over. Why do you think Lloyd s of London pulled every dime out of the European Banks on 10-1-2011 and why did Fannie Freddy and FHA only give 90 days to perfect title (ended 1-1-12) to have their backing on the same day. Plausible deniablity and our Treasury is protected. Those assets created by this fraud are all now unsecured debt and that is the treat.

    Like

  27. @Javagold,

    Being in foreclosure doesn’t mean you can’t counter attack. Even at the last minute, you can do something.

    Good luck.

    Like

  28. @Javagold,

    Judicial or non judicial?
    Still, nothing prevents you from sending a QWR. You want the accounting. It might very well show you some serious hanky panky with your own money.

    Do you know what alleged trust your loan went into? Have you been able to track that down? What if you learned that the so-called trust, of which Freddit was the trustee, closed a year before you closed?

    So long as you have one breath left, there is always something you can do.

    And if push comes to shove, go on Matt Weidner’s blog. Go On Jeff Barnes’, Mark Stopa’s, Mandelman matters, Max Gardner’s, everyone. And if you don’t have the right attorney, ask for referals for your state. The network is becoming incredibly well organized.

    Good luck.

    Like

  29. @Enraged

    still in house, but in foreclosure with no sale date scheduled……got 2007 mortgage direct thru wells fargo and put 20% down ($100K hard cash)…..of course WF doesnt own the loan, freddie mac investor and im pretty sure some trust is involved……they also for some reason changed our account number during the past 2 years

    every time i think im getting closer to answer/understanding the rabbit hole gets deeper and darker …….i will fight until the very end and will not leave , but i prefer for this whole fraud to be ended for everyone and very soon

    Like

  30. @Javagold,

    “Follow the money”. You need to track your $100K down. Are you still in the house? Do you still have the ability to send a QWR? Even after the fact, I don’t see anything stopping you from demanding a full accounting of what happened to your money.

    I would, even if I had lost it. What do you have to lose?

    Like

  31. can someone explain to me , where did my $100,000 hard cash deposit go ?????………i guess i should have put no money down and did a pick your payment option……

    Like

  32. NYCPLR Rule 322. Authority for appearance of attorney in real property action.
    (a) Authority of plaintiff’s attorney. Where the defendant in an action affecting real property has not been served with evidence of the authority of the plaintiff’s attorney to begin the action, he may move at any time before answering for an order directing the production of such evidence. Any writing by the plaintiff or his agent requesting the attorney to begin the action or ratifying his conduct of the action on behalf of the plaintiff is prima facie evidence of the attorney’s authority.
    *************************************************************************************

    SUPREME COURT OF THE STATE OF NEW YORK
    COUNTY OF KINGS : MOTION TERM, PART _____

    Affidavit In Support Of Motion For Proof Of Authority To Commence Action And Represent Plaintiff

    STATE OF NEW YORK )
    COUNTY OF KINGS ) SS.: _________________,

    first being duly sworn and subject to the penalties of perjury, deposes and says:

    1. That he is the Defendant above captioned and submits the instant affidavit in support of his motion for the Court to direct Mr. ____________, Esq., to appear before the Court and show his/her authority to commence the instant foreclosure proceeding and otherwise represent the Plaintiff herein and to file such authority with the Court Clerk.

    2. That the contents herein are based on his own personal knowledge, except as to those matters stated on information and belief and as to those matters he believes them to be true.

    3. Mr. ____________, Esq., has filed documents and made appearance in this foreclosure action, purporting to represent Plaintiff by filing a Notice of Pendency, Summons and Complaint herein all dated _______ and filed in this Court on _______ (the “Commencement Date”).

    4. Deponent, upon information and belief, avers and submits that Mr. ____________, Esq., did not have proper authority to commence the instant foreclosure action and does not have proper authority for representation of Plaintiff herein and, pursuant to N.Y.C.P.L.R. R322(a) and N.Y. General Obligations Law at Article 5, Title 7, § 5-703(1), and Article 5, Title 15, § 5-1502H(1), hereby requests that Mr. ________, Esq., be directed to appear before the Court and show such attorney’s authority to commence and prosecute the instant foreclosure action and to file such authority with the Court Clerk..

    5. WHEREFORE, deponent respectfully prays for the Court to make and enter an Order directing a hearing of this matter and, after such hearing, to deny permission to ________, Esq., to continue representation of Plaintiff in the instant foreclosure action and to strike any pleadings which have been filed by _______, Esq., if there is no submission at the hearing of ”Any writing by the plaintiff or his agent requesting the attorney to begin the action or ratifying his conduct of the action on behalf of the plaintiff” and to grant such other, further, and different relief as Deponent may hereinafter show himself justly entitled to receive and as to the Court may seem appropriate, just and proper in the circumstances.

    Subscribed and Sworn To Respectfully Submitted,
    Before Me this ______ day
    of January, 2012 ________________________
    Roger Rabbit 567 Zuccotti Park
    Wall Street, New York 11207

    Like

  33. Another thing with out my signature they could not make the windfall profits.

    NEVER AGAIN

    Like

  34. The reason they are forging the documents is to cover something up your honor. and these banksters did it to make alot of alleged illegal money. These banksters play to make alot of money that is why they are paid the big bucks.

    NEVER AGAIN

    BUT THEN AGAIN LIFE IS NOT FAIR

    Like

  35. Who Cares?

    That is why we have laws. That if you for anyreason cannot show the chain of Title You screwed up.

    Just like the cop that did not calibrate his/her speeding radar. It is inadmissable in court.

    No matter how fast or slow you went.

    If the Cop relies on a breathalizer that is not functioning correctly then unfortunately the drunk drive gets off.

    NEVER AGAIN

    Like

  36. @Colleen

    If your state is a lien theory state, go to your county recorders office and find out if the title is still in your name. If it is … get a copy of it and move back into your house. If the sheriff comes show him the deed showing that you are still the legal owner. My Prayers are with you & your family.

    Like

  37. @carie he actual source of the money for the loans was a wholly owned subsidiary of the underwriter,sponsor, or in some cases the seller. It was never the certificate investors, they merely paid the money back down the chain and replenished the kitty for the next conduit.. All of the fetch banks would get warehouse lines of fictional monies from a reserve system guy, the investors only funded the the return of the warehouse banks money.

    Look up shelf registration, preliminary prospectus and last registration statement before each pools cut off date,a close date.

    Like

  38. @Carie,you are somewhat correct, the servicers, seller, originator master servicer and trustee are investors to the extent of the over-collateral tranche and a huge chunk of senior series in practically every pool after 2004. The fact remains that the only thing transferred after pooling the loans was the right to cash flow and servicing rights, which the originators retained anyway, if they had a servicing platform.

    These folks are not investors, they are accomplices and accessory to crimes that make the Great Depress-fraud so vast as to appear as though the proverbial’ walk-in-the-park.

    You guys are getting so close though-you can probably taste it.

    The people are on the verge of exposing this organized heist – so we should expect another major mortgage program pout of Washington within two weeks, actually only eight days. If you know folks receiving checks from the OCC to settle foreclosure fraud, tell em not to sign it. They may get the house back or a helluva a lot more than the pennies they are being bribed with.

    Moreover, Rosicki and Rosicki in NY are next in the bankruptcy line. they have huge lawsuits coming and so does he scam artists at McCabe and Weisberg. It is sad that many innocent young lawyers have been introduced to their profession through fraudulent acts of their client. Yet, the homeowners to need to name the attorney who signed the affirmation to go after treble damages. Just do it and don’t feel bad. Their boss has an E&O policy and the client will cover all the losses anyway to try ans weep away individual cases.

    Like

  39. carie

    Yes. Right.

    And, sorry, Neil, know you have been instrumental in allowing victims to speak their mind here. And, we thank you. But, you have refused to acknowledge “investors” fault in the bogus so-called mortgage loans. The investors are debt collectors to false collection rights. These “investors” include servicers acting for undisclosed parties, and “trustees” for security investors that have nothing to do with foreclosures and nothing to do with the bogus “loans” — that are actually nothing more than false collection rights. Neither servicers, nor trustees for security investors are the creditor. Whatever “investors” are trying to collect is simply — fraudulent.

    While we thank you for bringing all of us together, it is time to rethink your defense of “investors.” Has not helped the homeowner victims. We have moved in our own paths.

    “Investor” fraud against homeowners is very close to being — over.

    Like

  40. Enraged,
    I’d love to stay put. BUT, I’m WAY past that. I want my home BACK!
    I’ve all ready changed the locks once just to have bunch of papers
    on my windows stating THEY changed them again.
    How do I get it back?

    Like

  41. @E. Toile,

    You were warned… I did state that “his prose sucks”. And I also mentioned that he got “some” religion….

    Still. Foreclosures are bad for the economy. That’s a hell of a good start. Remember? Before Christmas, unemployment was the biggest problem. We’re making progress.

    Like

  42. I noticed this in the footnotes of Bernanke’s letter that was posted:

    This paper does not address the important issues surrounding whether lenders and servicers have appropriately carried out their roles in foreclosures.

    Oh please Ben, do go on….we’d love to hear more about the appropriateness of the lenders….

    In April 2011, the Federal Reserve, along with the other federal banking agencies, announced formal enforcement actions requiring many large banking organizations to address a pattern of misconduct and negligence related to deficient practices in residential mortgage loan servicing and foreclosure processing.

    Really? Deficient practices? Misconduct? Do you mean something was amiss? Scant? Was the truth scarce, or a rarity? Was legality lacking or in short supply? Tell us how you enforced them Ben. Did you ask them nicely to look into it?

    These deficiencies represented significant and pervasive compliance failures and unsafe and unsound practices at these institutions.

    “Pervasive compliance failures” is the turn of a phrase a person dodging the truth says instead of “ongoing criminal acts”. If I have my way, Bernanke’s biggest concern will be his daily trips to the shower. Misconduct? Oh yeah….he won’t believe how pissed off some of those hardened homeboys whose Mammas were tossed out into the streets by Ben and his buddies will be. Karma’s a bitch, and if there’s any justice, Ben’s about to become one himself. And that goes for you to Jamie!

    Like

  43. “…The actual source of the loan, as I have stated for years, was a group of institutional investors who were induced into buying bogus mortgage bonds thus creating a pool of money…The investment bankers took a huge bite out of that pool before they started funding mortgages. ..”

    “…In turn that means the value attributed to the mortgage backed securities have also been false and that requires a significant write-down of non-existent assets…”

    NEIL—COME ON—PLEASE—“NO FUNDING” IN SUBPRIME—NO VALUE EVER BECAUSE NO MONEY IN THE SECURITIZED TRUSTS…EVER…THE “BANKS” TOOK ALL THE MONEY AND CREATED “CREDIT”…ONLY COLLECTION RIGHTS TRANSFERRED…

    RIGHT, ANONYMOUS???

    Like

  44. @Colleen,

    Stay put in your house if you’re at risk of losing it. Stay put in someone else’s house if they’re at risk of losing it. Just stay put. And pester.

    Like

  45. I had a dream… A delusion of sort, worth holding on to.

    All those FEMA camps being built all over the country? They are conceived to house those criminals! Because just building a big wall around Wall Street and calling it “Wall Street Penitentiary” would only take care of the bankers. They had plenty of help, nationwide, from real estate agents, title companies, lenders/brokers, notaries, robo signers, foreclosure mills, congress, attorneys who screwed people with promises of getting them a modification, pocketed the money and ran and the list goes on.

    I’ve NEVER signed anyone’s name except mine. Somehow, I’ve always known it was wrong, whether I’d be paid $10/hr or $10.000/hr. Wrong is wrong. I’ve never created phony documents to appropriate someone else’s property. Stealing is stealing (except from a thief. Stealing from a thief is taking back what’s yours). Apparently, the group listed above didn’t know… or didn’t care.

    In any event, when we add them all up, they could fill up a few Guantanamos. Hence those FEMA camps!

    And Nora? That light at the end of the tunnel that I said I was seeing, a couple of months ago? Nope. Not a train. Definitely not a train.

    Now is the time to put pressure on everyone who owes his living to being elected. We represent 99% of this country’s inhabitant. We’ve got a role to play. A calling to answer.

    Pester your AG. Pester the White House. Pester Congress and your state reps. Pester everything that moves and has a few bucks. Let’s take those bastards out of their agony!!! And out of ours.

    Like

  46. So, is it time (yet) to have a meeting with the sheriff

    and hire a locksmith?- OH my mind is going a mile a minute…can we?
    can we?

    Colleen

    Like

  47. Spot on about the money trail but
    surely they also needed to fabricate the docs to cover their
    earlier conspiracy to defraud.The extra payment was just a bonus.The trouble with that then is the Fed.Reserve AND the Obama administration are also criminal conspiritor’s after the fact too.
    To paraphrase Winston Churchill;
    Never in human history has so much been stolen from so many,by
    so few !

    Like

  48. May I suggest we copy this post that Neil has written that so well that describes what has happened and put it in each and every foreclosure info box currently being marketed?

    Like

  49. Great post Neil. You’ve been a lone beacon in storm tossed seas for years now. Every ludicrous, crazy sounding post of yours has been proven true.

    Much work needs to be done to let those in power know that the jig is up, and that it’s way passed time to start prosecuting the criminals. Unfortunately for my neck of the woods, MERS and their criminal owners are still foreclosing as if they were running out of time. I’m reminded of the Germans who killed indiscriminately when retreating at the end of the war.

    Our so-called law makers and the judges that follow them need to be educated that it’s – FULL TILT – game over. Any found to be assisting the crimes will be judged for the crimes. It’s time to choose, are our representatives on the side of the law and their constituents, or do they side with the banksters and lawless? Ask them this question outright. It’s the only way forward.

    Like

  50. And so our friend Benny Boy just found (some) religion…

    His timing is impeccable. On the other hand, his prose sucks. But, the jest of it is that “Foreclosures a bad for the economy”. It’s like saying: “Toxins are bad for our health”.

    Really? You don’t say!

    http://www.federalreserve.gov/publications/other-reports/files/housing-white-paper-20120104.pdf

    Like

  51. There is a perfectly simple way to disseminate this information. Do a “copy” of the posting and “paste” it onto a blank page at “Office Word” and from there you send it off either by email or paper to your local member of Congress and your Governor, together with a request that they respond with what they propose to do about it. Should be interesting.

    Like

  52. I knew that day would come. “You can fool some of the people some of the time but you can’t fool all of the people all of the time.”

    We’ve got a lot of work to do to fix that mess, with or without our government. The first order of business is to recoup all of our money, that same money we paid via taxes to maintain our infrastructures and our schools system, to invest in R & D of alternative and renewable energy sources and in reversal of the environmental debacle we have created.

    Whether bankers go to jail or not, thir end is near. And don’t any government ever tell me they didn’t do anything illegal!!!

    Like

  53. http://www.kfraud.com

    my fourth amended against fatco,

    no the court is ruling on the matters,even the day before the hearing. notice of rulings..filed by them the day before the court date.

    my American right to a jury.
    not in this state!

    Like

  54. […] Why Did the Banks Need to Falsify and Forge Fabricated Documents? Posted [on LivingLies] on January 5, 2012 by Neil Garfield […]

    Like

  55. I got chills as I read this. It gives me hope and encouragement to continue my battle. We have breached the dark castle walls and our troops are starting to pour in! The battle is joined!

    Like

  56. I haven’t read this post yet, but just from the title, I’d say yahoo, now we’re getting somewhere. This is the 13 trillion dollar question and when we can answer it to a t, we will be in fat city.

    Like

  57. Neil,now that is the type of provocative message that needs mass dissemination. I am starting next month to spread the word. I am also going to get a blog together that can link folks in over here.

    I would again inquire about allowing homeowners to but a title and assignment search direct.

    Like

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