Most Mortgage Closings Were Sham Closings

“Powers of attorney are fraught with problems. Title attorneys and title insurance companies are reluctant to accept them, and will insist on making sure that the proper form and correct language is included in the document. You should not use the forms that can be obtained free of charge (or even for a fee) on the internet. If you need to provide a power of attorney for your real estate transaction, get the proper form from the settlement attorney that will be handling the closing.” Benny L Kass, realtytimes.com see link below

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Editor’s Analysis: Consider this. You walk in off the street and apply for a loan. The Bank confirms the loan and a closing date and place is set up — usually at a closing agent or title agent (who is also a closing agent). But your friend shows up and wants the loan and says he is willing to sign the papers. What do you think the Bank would do? What do you think the closing agent would do? It’s obvious. The closing is cancelled and the loan never happens.

But suppose your friend has a friend in the bank and that person is in charge of preparing the papers for closing. The friendly bank person switches out the name of the borrower from you to your friend. The closing agent collects the money from the bank and gives your friend the loan. When the loan goes into default the bank finds that it loaned the money to the wrong person. Having no rights against you they are limited to pursuing your friend who by now is long gone. Unless they prove you had something to do with it, they have nothing on you.

Next, assume your friend goes to the closing for you and he has a power of attorney from you, saying you are out of town or whatever excuse he can think of. The closing agent will most likely not accept the power of attorney unless told to do so by the Bank. The Bank will most likely refuse because powers of attorney are subject to cancellation by death or disability.

If your friend adds that he is your successor because you died and he is the personal representative of your estate, there are even more problems and fewer chances that the bank will accept the successor argument or the power of attorney. The assumption would be that something screwy is going on and the Bank wants no part of it. Suppose the power of attorney is a forgery? What if you are not really dead?

But in the modern era of foreclosures the very same succession and powers of attorney are accepted without question FROM the same banks who would turn it down if it were offered TO them. THIS is why you need forensic auditors to give you a report on where the weaknesses are in the chain of title and the money trail. The best way to determine if an assignment is actually valid is to look at the consideration. Who paid how much to whom? And that is the heart of aggressive discovery. The Banks don’t want to get into that because they would be shown to be strangers to the transaction and that the assignment or transfer never actually occurred.

When you went to your loan closing or your client went to their loan closing, there was an assumption that was not true in most cases —- that the payee on the note and the mortgagee on the mortgage was giving the borrower a loan of money. But they didn’t. The money came from investors rather directly through the investment bank that acted as a depository for the funds until they withdrawn for their own fees or to fund mortgages like yours. The party that SHOULD have been on the documents was the actual lender — i.e., the investor or a group of investors in a REMIC trust if indeed the trust was ever funded, which we are finding is increasingly unlikely.

Now the Banks are saying that just because they had their own reasons not to write the right parties and terms on the loan in violation of their duties to the investors, that the Bank is entitled to foreclose! AND if you look closely you see all the succession language and powers of attorney, endorsements, and mergers, all of which lack consideration for any transfer of any loan because the loan was funded from the beginning by the investors who were forced out of the room.

In Court when the judge enters a final judgment of foreclosure or allows the sale to proceed the Judge is unintentionally stripping the investors of their security rights and stripping the investors of any claim for payment against the borrower — which was the ONLY reason they advanced money in the first place. This in turn gives the borrower nobody to talk to to find out the real balance of the account receivable, or to address issues of modification.

If the Judiciary wants to see this bulge of foreclosure cases go away, then enforce the mortgages the same you did when there was no securitization. They will vanish in a flash.

 

Powers of Attorney: A Potential For Fraud
http://realtytimes.com/rtpages/20130828-powersofattorney.htm

 

95 Responses

  1. Great read thanks

  2. still to java

    I found mine first on sec site by going line by line of all the loans I the trust -both loans show up in the trust but they are jn different sections I was able to find -yes took hours -by looking for original amount for each-on another site (loan care) I learned how to find trust report on the master servicers site -not trustee site

    in 2010 my jr lien was charged off the trust report shows it marked ‘paid in full’ on one page of the report in 2012 I wrote the trustee -I called the number listed in sec docs and someone answered and gave me address -I sent certified letter to trustee telling them about servicing errors -I asked if my loans had been removed from trust or marked paid in full….the reply letter said they confirm both my loans are collateral for trust and contact my servicer if I had questions…

  3. to javagold

    the changing loan numbers – my loan numbers have changed 3 times
    my original loan numbers are also my mers min # I have a copy of what was recorded and each security deed has the mers min # on the front page
    I keep documents and notice the loan numbers used by my originator match these.
    when my servicer changed I got new loan numbers
    my numbers got mixed up -no joke now when the servicer submits copy of deed to court they use copy of recorded doc with wrong number and just redact the mers min number -of course this was hard to notice-they did not redact the 2nd lien stamp which is how I figured out they are not using correct docs in items submitted to court….in 2008 when the loan numbers switched the first time questioned the amounts of my loans I knew I had not oaid 14,000 on my jr lien in one year and my 1st the amount they claimed was too high – wish I knew then what I do now – currently with another servicer who I sent qwr requesting complete report of accountjng of my loan 6 -they finally sent me 2008 to present date -when I pointed out my loan started in 2005 they finally admitted they only have info from 2008 -so how can they be sure the amount they claim and I disputedd is correct? (yes I included examples of numerous errors in the servicing of my loan in my qwr to support my reason for questioning the accounting of my loan -this was never even addressed!)

  4. Most comprehensive mortgage examinations reveal SUBSTANTIAL causes of action, not trivialities like incorrect apr. Typical: loan application lies, overvaluation in appraisals, damage to credit history, etc. Those can justify big compensatory and punitive damages. THAT’S the Schtick.

    *Bob Hurt* *Blog 1* ***2* ***3* ***f* ***t* ** 2460 Persian Drive #70 Clearwater, FL 33763 Email ; Call: (727) 669-5511 Law Studies: Donate Subscribe Learn to Litigate with Jurisdictionary

  5. christine on 9/16 @ 8:44
    What i think is being described is “impossibility of performance”. Whether or not a third party’s act is recognized in a contract (for which i of p is a defense, I believe) between two others, got me. Hope so, because so many of us did in fact find performance impossible. Hard to make a pymt with no job and 401k’s etc etc wiped out because of the acts of *&*#!)(!’s. Hard to sell, also, when one is underwater because of those acts and bs appraisials.
    A false economy was created by racketeers with no shame and was allowed by regulators, apparently also with no shame.

  6. Evil wins when we let it get the best of us. We have our loved ones and no matter what that is all that is most important. However fighting back and not letting evil take over is not an option. Hug and hold the ones we love and thank God for them. But never turn a blind eye to evil.

  7. J, from my understanding, the changing loan numbers are actually sales of the Note (which is not legal). There are ways to find your note in the trust from the SEC website. Type into Google, how to find my note in a trust or words to that effect.

  8. Justme, “Unexamined cultural values & limitations of language have made us unwitting prisoners of our own assumptions.”
    – Terence McKenna Could not be more true. We have to take the BS power away from the banksters that are destroying this planet. It is moving that way. check out Divinecosmos.com. We should be happy even if we have these low-frequency villains destroying everything. They are being defeated even as we speak. Just the thought patterns of happiness and joy destroys the enemy.

  9. Have any regulars really read through Neils previous post? ” Foreclosure Defense: Rescission Letter, Demand Letter”
    I just read and re read and many a things are aloof.
    The commentators, the remarks, the answers…..none of the ordinary and much is out of place. The title is not a particular common draw within any means, something seems very OFF. Very, very, VERY off.

  10. Evil lives in Hell, but sometimes a little wanders into one’s mind. Be happy. Push that shit out and stay happy. It’s hard to hurt the happy, they are a crazy kind of positive. You can take someones house away, but not their happy. ~ bad quote of the night.

  11. Yes and this is being done by Scott Stafne’s firm However it causes more litigation and expense for already financially harmed homeowners. A real tragedy. Certainly not being protected by our politicians, but being victimized again and again by the very people that should be protecting us. Feels like we are battling with flat out evil.

  12. It’s my understanding that since a court may not enforce an
    unconstitutional law, the’ law’ may be challenged in court actions.

  13. I absolutely agree. More people are going to be victimized by this law before we get it turned around. The petition will expose and should embarrass all of the senators, whom are a part of this injustice and will gain traction. Voting all of the senators out of office will be a focus also.

  14. Well, it’s not really bench law per se, but it’s not legitimate law.

  15. shelley – I read the WA deal at deadly clear and of course I’m horrified.
    Title companies want the liens released so they can issue title policies for lenders and buyers. While I sympathize with them economically, the biggies (TC’s), I hasten to note, are part and parcel of the malignancy which caused the problems. They now want a quick cure for the illness they helped create. This legislation won’t stand, not in a democracy, anyway. As deadly clear points out, these are contractual issues and not subject to bench law of one state’s legislators. No court may enforce an unconstitutional law. It’s not constitutional for a law to alter the rights of one party to a contract. I hope you get the signatures you need on your petition.
    I need to say how sickening and saddening it is that title companies, once our buds (yes), have picked the wrong side and as to some of them, even helped draw and define the line. I am so not kidding. This is an American tragedy.

  16. WHAT’S THE DEAL WITH CHANGING ORIGINAL LOAN NUMBERS. ALWAYS WITH SANE SERVICER. ALSO SENT PAPERWORK SAYING ITS PART OF A FREDDIE MAC TRUST. BUT CANNOT FIND IT ANYWHERE !!!

  17. I sure would hate to be the judge and jury on that. A person in her capacity and fame and trying to prove the mortgages to be fake, will meet up with mud slinging by advocates for the banks. I dont believe the claims will hold. She has done a great job of exposing the crime and has put millions into helping homeowners. This can only make the banks dance and be merry. And harm our battle against them.

  18. Too bad that little warning on the bottom stating it is a crime to knowingly make false statements etc. can result in imprisonment does not do a good enough job. It should also read; ” and not knowing how to appropriately fill out this form”…..

  19. Just me, I bought and sold several houses, and the hud 1 is always a problem. Most of the attys offices do not know how to fill it out correctly. The attys leave the work to paralegals who may or may not know what they are doing. The attys get bent out of shape if you ask to see it in advance of the closing, which, of course, makes me very suspicious. We need a course on how to correctly fill out a Hud1. Any takers?

  20. Heard through the grapevine Ms. Lynn stole the work she used to make her multi-million dollar win in court?

  21. Certified copies from county records and or copies of unendorsed notes sent to you in the course of you case by the bank. Unendorsed

  22. Send your notes to Lynn Syzmoniak by way of Deadly Clear blogg site or my email, to prove the notes therefore the mortgages are fake. Notes that are being claimed by trust.

  23. Exactly Shelly

    My wiring instructions for another loan in 2007 has “blue” ink with hand written notes on it from December 26, 2006? What?…the lawyer who closed gave me every piece of paper, because he was pissed that BOA was foreclosing on his stuff from an escrow, suspense account.

    I have paperwork faxed from a dentist’s office in NJ at 6:00 pm on a Sunday, from Credit Suisse who claims to have funded…WTF

    The point: when we are following the paper trail everything MUST be verified, because all of it is a “counterfeit” or “forgery” and we keep chasing our tails, because the majority of the paperwork IS a fake.

  24. Has a securitization trust investor suffered injury by the homeowner’s non-payment or is the investor’s loss a result of someone else’s non-payment? Did the homeowner sell anyone the certificates (which apparently don’t even pay out dollar for dollar on the note)?

  25. re: jurisdiction-invoking injury:

    United States 9th Circuit Court of Appeals

    In RE Palmdale Hills Property, Llc., 654 F.3d 868 (9th Cir. 2011)

    “Whether Lehman satisfies the “person aggrieved” test is a question of fact that is reviewed for clear error. Duckor
    Spradling & Metzger v. Baum Trust (In re P.R.T.C., Inc.), 177 F.3d 774, 777 (9th Cir. 1999).

    A. Article III (constitutional – sic) Standing

    Article III standing is a necessary component of subject matter jurisdiction. (the other is prudential standing – sic) To have Article III standing, Lehman must show:

    (1) it has suffered an “injury in fact” that is (a) concrete and particularized and (b) actual or imminent, not conjectural or
    hypothetical;
    (2) the injury is fairly traceable to the challenged action (here non-payment – sic) of the defendant; [fn4] and
    (3) it is likely, as opposed to merely speculative, that the injury will be redressed by a favorable decision.
    Friends of the Earth, Inc. v. Laidlaw Envtl. Servs. (TOO, Inc., 528 U.S. 167, 180-81, 120 S.C”

    The U.S. Constitution vests our courts with the power to hear and adjudicate disputes between litigants, i.e., it gives courts ‘jurisdiction’ / authority. A caveat of that jurisdiction is that the claimant before a court must have suffered its own injury caused by the other party. ”

    jg: A person in possession of a bearer note, say, has not demonstrated (or generally even alleged) his injury by its non-payment. He just says ‘I’ve got this bearer note and art III of the UCC says I may enforce, and with no evidence article III supports his enforcement of THIS note secured by real property, to boot.( Is article III about wickets, kupi dolls, UFO’s, what?’ Where does it say in the UCC that article III applies to notes secured by real property? Why is this a presumption – that art III does? )
    Regardless, his injury is the only thing which may invoke the juris of the court, not his possession or his alleged right to enforce under the UCC.. He is not aggrieved for not being able to enforce a bearer note, having suffered no injury by its non-payment. Also, as to THESE notes, he has other bars to meet, those recited in the governing instruments of the loan, in particular those defining who may enforce the note (the language of which does not say “see UCC” – the UCC is default law).

  26. Poppy the papers filed are being proven to be fraud, by assigners admitting they had no clue and were taking info on hearsay. Every deposition of the document (robo) signers has proven deception and fraud documents. Not one deposition was good for the banks. Not one! I now have a deposition of Jeff Stenman who has been deposed about ten times, his most recent is Jeff admitting NW Trustee’s and all their branches they are associated with are working for the banks. When they are suppose to be third parties with no ties to either side. They are the firm taking over the robo doc signing now and have been caught red handed on this deposition. I have it on email and am trhing to have it put on a form I can post easily. We now have Claire Swazey and Yvonne McElligot and two Jeff Stenman depositons telling the lack of knowledge on their hearsay assignments and telling of NW Trustee’s and Crab tree and the like working for the banks. CPA violations. I also have a federal judge admitting he is an advocate for the banks and has served the banks as a trustee numerous times. Then rules for a mortgage case against the homeowner and takes the fifth when asked a question he should have answered. All on pdf right now and trying to get them on a dif form to post.

  27. just me – send me your HUD at
    johngault764@yahoo.com

    send me any title report or policy. I’ll keep confidential what you want confidential (which I assume is your name, property address, etc)

  28. @JG
    I looked over the HUD-1, both are checked top left box 3 – Conv. unins. So perhaps the loan was meant to be uninsured, or, they knew it could not be because of the previous owners loan… either way it ended up insured. Interesting, too. lines 503 – 505 are all blank number wise. One says ‘payoff mortgage loan bank’ and under that, ‘payoff second mortgage loan’ but there are no amounts in either.
    When you said they biffed and it is their problem (FHA) – Do you know who would be the best place to speak with regarding FHA? FHA. HUD- every call I make I get “call National servicing center”.
    I believe you are correct, after they paid their loan off, mine would of ‘slid into first’ ……but does’t that mess with chain of title? Badly? As in they should not have been able to make the loan in the first place …I have a recorded warranty deed free and clear of any encumbrances or liens. So theoretically,(I think ) The warranty deed would of slid into first, saying I own the home free and clear, then the mortgage. The title company really did a doozy in this. I wonder why we got a free and clear warranty deed? That makes it look like on record, we had the house, ours alone, no liens, and then made a loan on it..Aaagh. Apologies for anything that sounds really out of the ball park, I have not been doing this for all that long.

  29. I guess what I am trying to say here is: just because they have a bunch of papers filed, doesn’t mean that’s the same paper trail they have in their books? Think about it! The entire mess could be a fake…my doc’s are similar. Looks like loans, everywhere, but on further investigation…a refi of the old loan they were hiding. Hmmmmmmmmm

  30. Don’t forget the UETA laws listed in this article. The contracts are void at closing on all contracts, boats, cars, trucks, houses, if you have not knowingly given explicit permission for electronic filing. http://deadlyclear.wordpress.com/2013/04/27/mers-too-many-dead-ducks/ And not just MERS on the docs. Who knew what half the initials meant on the docs. We trusted the banks not to commit such frauds against us. We learned a lot the hard way since. The loans were void at the signing.

  31. bob hurt – Even if you find a loan violation, which could be a justiciable claim or one for negotiation, that is so not the battle. You may be well-intentioned. I couldn’t know. But just for sh$ts and giggles, tell us, if you can, what is the value of finding, say, the a.p.r. is off after 9 years? What is the value of finding the numbers on the HUD don’t add up? What’s the stick?

  32. Poppy re 4.23 post
    I agree but after receivership and the ” certain assets” sold need to file suit to get the info.

  33. Neil – have you ever given any thought of your own to why MERS and its buds called “MERS” a nominee instead of an agent in the dot? Do you think, what, it’s because ‘agent’ was outside their vocabulary? Have you ever given any thought of your own about whether or not a remic trust may own real estate? Have you ever given any thought of your own to who owns real property after a successful credit bid?
    Have you ever given any thought of your own as to the ability of these trusts to even make a credit bid on real estate? Doesn’t look like you have.
    Well, should you decide to, here’s a hint for direction: a state SC recently ruled that while MERS’ presence in the dot does in fact bifurcate the note and dot, “reunification” is possible pursuant to
    Restatement 3rd yada yada (but no internal quote from R 3rd!).
    How is RE-unification possible when there was never any unity to re-unite?) But more the hint is the willful bifurcation.

    Have you ever thought about the “assignment” of a credit bid (which wasn’t necessary and / or known at all prior to MERS Consent Order)?
    Have you ever considered why MERS 86’d foreclosures in its name
    after that Consent Order?
    Any chance you will? Any chance you’ll direct your attention even momentarily to an issue outside “they used the investors money to fund loans”, even as that proposition may determine a lot? it may well be a lot, but it is so not the only thing which undermines the legitimacy of this stinking deal.

  34. Poor people. Kick em’ when they are down eh? I cannot bring myself to take on any lawyer. Even If I could afford 1,000 – I still cannot stand the thought of loosing because I followed someone else’s advice and let them do it their way. No one will fight harder for my house then me, that I know. If I loose, I loose. I know It will be by my own fault, I will know I did all I could and did not put all I had in some suit’s hands that may not of really gave a rats arse if i won or not…I have done good, so far.

  35. Legal Malpractice BOOMING in Foreclosure Defense Industry

    Here’s a twist on legal malpractice and foreclosure that NOBODY but I wants to report.

    The Malpractice Scheme: Dozens of attorneys in the Tampa Bay area, including Matt Weidner, Tom Ice, Mark Stopa, Randall Reder, and Greg Clark, vigorously promote their foreclosure defense services. They get foreclosure victim clients by promising to “keep you in the house as long as possible.” They charge $1500 to $3000 retainer (a downpayment gift) and $500+ a month till the foreclosure becomes final. Meanwhile they file cookie-cutter pleadings they copied from other attorneys complaining about “show me the note,” bifurcation of note from mortgage, securitization, wrong track of ownership of note, lack of standing (wrong plaintiff), vapor money (lender deposited borrower’s note and used that to fund the loan), and other nonsense. This delays the foreclosure, but the foreclosure inevitably goes through anyway and the client loses the house. The lawyer never bothers comprehensively examining the mortgage, note, and all related documents for evidence of torts, breaches, fraud, and legal errors, but sometimes sells useless services like securitization audit, loan audit. In the end, to avert foreclosure, the lawyer cons the client into a short sale, deed in lieu of foreclosure, keys for cash, or an onerous loan modification that leaves the client owing double to triple the value of the house, and facing a huge balloon the client cannot pay.

    Why is this malpractice? The bank accused the foreclosure victim of breach of contract. The first things the attorney should do:

    1. Say “give me the contracts and all related documents, letters, lawsuits, etc.,” then 2. Search for the causes of action in them against the lender or lender’s agents, then 3. Attack the lender and agents through settlement negotiation or lawsuit, then 4. WIN compensation for the mortgage victim’s injuries.

    You see, historically, lenders and their agents have cheated NINE OUT OF TEN mortgagors. Settling or suing on the basis of those causes of action can get financial compensation for the mortgagor.

    Thus, the mortgagor can fight one of two battles:

    1. The foreclosure, which the borrower statistically always loses. 2. The mortgage, which the borrower statistically always wins.

    Which battle makes most sense to you?

    Our problem lies in the fact that no MORTGAGE ATTACK legal industry exists. Foreclosure Defense Lawyers focus on the easy money of defense for $300 to $500 a month and the mortgagor loses the house after paying the lawyer upwards of $10,000 to $30,000 for doing virtually no work on the case. They do this KNOWING the mortgagor will lose the house. Those lawyers have not learned how to examine mortgages for causes of action, and I believe most have become too lazy and incompetent to serve the real interests of the client. Many such lawyers ballyhoo claims of winning when the court temporarily dismisses the foreclosure complaint for lack of standing because the wrong plaintiff sued. They plaintiffs nearly always correct their paperwork, get standing, refile or appeal the case, and win. Then the court sells the property and orders the mortgagor out of the house.

    The net issues: mortgagors cannot find competent lawyers to examine their mortgages. And, the mortgagor with an examination report showing causes of action in hand cannot find a lawyer to attack the mortgagee over those causes of action.

    Herein lies a huge opportunity for lawyers and mortgagors. Mortgagors do have a mechanism available for negotiating with the lender to obtain a reduced loan balance and payments they can afford, or financial remuneration for their injuries. They can simply contact the lender and demand a solution. If the lender balks, the mortgagor can contact Government regulators and report the lender for violating regulations. That usually brings a quick remedy. Severely injured borrowers might even get the house free and clear WITHOUT NEEDING the services of a lawyer.

    The public needs to know about this technique and opportunity. I can connect people with a competent mortgage examiner, and I charge nothing for my service. You can read numerous articles I have written on related subjects athttp://bobhurt.blogspot.com . Many people come to me for help. Some go on to ignore my encouragements, and lose their house. Others get their mortgages examined, and I help them discover how to proceed from there.

    If you want to learn more about this, and don’t want to read my articles, contact me. I have retired from the computer industry and have the time to help people free as my way of giving back to the community. I have no business obligation to any company.

    Before deciding NOT to contact me, ask yourself what YOU would do with a mortgage exam report that showed causes of action against YOUR lender.

    Bob Hurt 727 669 5511 Clearwater, Florida Click to E-mail Me (http://r.beetagg.com/?48F181)

    *Bob Hurt* *Blog 1* ***2* ***3* ***f* ***t* ** 2460 Persian Drive #70 Clearwater, FL 33763 Email ; Call: (727) 669-5511 Law Studies: Donate Subscribe Learn to Litigate with Jurisdictionary

  36. correction – I got what was a recorded mortgage in my name. So I got something anyway😕

  37. No, Poppy, we got the loan, with the previous owners keeping their loan as well.
    The previous owners didn’t really know what happened either, they ended up having 4 mortgages on the house and knew of only 2. I had to copy it and show them what was recorded for them to believe me and they said they did not know what they were looking at. (one is whip smart too so I don’t know what happened there) But solid as stone, they had made a mortgage made in 03, lasted until 2012 when it was paid & recorded, meanwhile we got a loan on the house too. In 2005.
    The local credt union the previous owners cashed the check at from the closing – “can’t find it” I am not being made all that fully aware of what happened. Somethign IS fishy there though.
    – Good for you , I am happy for you!

  38. The previous borrowers had a mortgage VHA – made and recorded in 2003 – I know them so I have been in touch and asking- paid the whole time up until 2012 when satisfaction was recorded.
    Title ins place told them the remainder of their mortgage after the closing deal was like a ‘private loan’ to the bank and the “house part” of the mortgage was paid off.

    I actually have the title commitment. None of them know it exists anymore because no one else has it, it was all ‘lost’. It does have a condition ‘buyers must pay 20,000 on ____ loan’
    one hud-1 designates such a payment, one does not even state any such bank or payment. One also says we paid for title insurance , ones does not.
    The title place gave me some junk (go figure- that was made the exact day – the exact time to the minute our mtg was recorded.) that shows an owners and lenders policy.
    Its bull.
    First Am says no such policies exist. They emailed me after searching names, policy numbers, soc numbers, property addresses, etc.
    ?

  39. To me: you never got a loan, it was a refi from the other party…I have one with BOA/Countrywide. Dated 1985, didn’t buy the place until 2005. No loan exists for me. It was a refi from the old loan originated in 1985. They are supposed to sell it today. Waiting on a SJ and bang everything is allowed in my defense on a counter-claim.

    They need to get their checkbook out!

  40. The servicer wrote me several times and told me the loan was in a GNMA pool. With some clever talking Ginnie gave me my 2 pool numbers but finding any such pool or the PSA is out of the question. Edgar/SEC no such anything exists. I do have the letter from closing telling me they intended to put the loan into GNMA as well. Servicer says its a MERS loan, they personally checked into that and it is not. FDCPA wise they ‘bought’ the loan in default.
    The title place has nothing at all from any transactions except for the HUD-1 – well – there are 2.
    They used ONLY the note & mortgage made out to the original ‘lender’ (whom is gone) who is not them, for MSJ.
    They have zip for any type of authentication for the Note that their name is NOT on. I called it on being un admissible as evidence for trial. No note, no debt. So they pulled one of those “here is the actual original” that has a nifty little blank endorsement on it. Thats super – but as far as I can tell those other 5 times they filed the assured “true & correct” , “genuine” copy of the note WITHOUT that endorsement on it making it un admissable – didn’t they just prove to the Judge they smacked on that pretty little endorsement after I noted what they had originally could not be used at trial?
    The day after round 1 when they produced this so called “original” with the endorsement, I wrote a QWR to the servicer asking them only one question. – That there has been some confusion as to the original note…I have seen ones that look different😛
    They sent me a GUARANTENDAMTEED true copy of the original. They have done this before- it was always a normal size print out.
    This time they sent me a full size- what 14″ – real copy and guess what –
    that pretty little endorsement in blank they need to make the note admissible and to even prove the loan moved to Ginnie – was not there.
    Heh. Should that be enough, who knows. Probably not.
    I am stuck on the origination though! They gave me a loan on a house that was someone else’s. Someone else had a mortgage on “homeA” with bofa ….. a totally different ‘lender’ comes along and gives me a mortgage on the house too?! Two different people, two different lenders, two different mortgages – One house for collateral on both?
    Same property numbers, etc. Their mortgage was recorded, they still had the loan,—-how did HUD insure my mortgage on that house?
    The National servicing center said they do not handle that, they said call the title ins place – title ins place are the ones who made it possible to make this work, no?And they lost everything. Title ins does not exist says First American (backs title ins. place) My copies of the mortgage and warranty deed (free from anything) are not even dated or notarized. Even the loan application – dated the same date as the day everything else was recorded. Cahoots! I called Denver HOC like HUD told me to – you know what the lady said when I told her they referred me to them……”That’s scary.”

  41. jsut me: you bought a house. there was a first and a second, which second you were told (by seller?) was an unsecured note for “construction”, theoretically improvements to the property. Your lender ordered a title commitment from some co. owned by or assoc’d with First Amer Title. Your fha loan closed and the first on the property was paid off, but not the construction loan which turned out to be a second? The second remained on the property until somehow it was released in 2012, 7 years after your closing.

    These are lay opinions: yes, you have an fha loan. FHA doesn’t make seconds,as you know, which is what your loan would have been; it would have been subordinate to the loan not paid off IF that loan not paid off were of record. But now that it’s been paid off, your loan slid into first. It may be more complicated – not sure. So far, no one has suffered any damage by that second not being paid off for 7 years or you’ve mentioned none.
    Would this cause FHA to deny its insurance if your loan now defaults? It’s my understanding that the title commitment is part of the “insuring package” sent to FHA after your loan closed. If that “second” were not of record because it was unrecorded, your FHA loan was imo senior. If the second were disclosed on the prelim, but FHA yet issued its mortgage insurance certificate (“mic”), they biffed and it’s their problem, I think.
    You haven’t said anything about the title commitment or policy’s reference to the “second”, so shooting in the dark. On a refi, the title insurance is a lender’s policy and the borrower doesn’t necessarily get a copy of the policy when it’s issued. Not so, generally, on a purchase since the buyer usually gets an “owner’s policy”. I have no way of knowing when or if the “construction” second were recorded and thus when anyone had notice it existed.

  42. yowwwww! Don’t hear that very often do ya!

  43. “What good is a loan to the servicer”

    Try my best to answer what I know…A payment stream is what they are after, even the house as they have no skin(money) in the play.

    And servicer is deceptive. It is being used in a “legal” way by one group and another for a debt collector, which many of the servicers are…check the paperwork they send. The rules for debt collectors are State governed. The rules for servicers working for a REMIC trust, under the PSA are very, very different.

    And to further confuse the issue, a REMIC trust in MOST cases is not valid. In other words they say the note went into a trust, but it did not, herein is another problem. You MUST research and find out “exactly” where your loan traveled, from who to whom and how.

    My $.02 here

  44. What good is a HUD loan to a servicer if it is not govt insured? You are assuming that no one is forging any documents, that all the participants are doing what is legal and no one is taking money under the table to bamboozle the borrower. My HUD 1 was an illegal mess, and the atty involved in the closing (judicial state) did 3 years in the fed pen for wire fraud. As a borrower, you are assuming the professionals involved are doing their job properly, morally and legally, but that is not the case.

  45. I agree with that one…our government is no help and and many, many people have lost touch are couch potatoes. But we all know that and we do no good yapping about couch turds and bad school systems. Not what (most) of us ARE here for and frivolous to point out. That is why people have left,shall we keep on topic please? Can anyone answer my question? What good is a loan to the servicer if it is not HUD insured? Any thoughts on that one? I’ve asked oobers of questions on here and am frequently ignored or no one has anything that would be of help of to me, which is fine, but it would be great if the ppl that had helpful things to say said them. I have not been here all that long but these forums have been turning into a knowledge board of copy & paste’s and some sort of weird collective “adults social group” that give one another something to do and it works. I am in the pot as we speak looking at second round of MSJ fairly soon. Many of Neil’s latest posts are oddly relative to what I have been doing. However between some lack of “how to, where to” and the public posts it leaves much to be desired. Those of us personally fighting are digging for that “how to,where to” and it’s blanketed by junk. So, America is taking a digger and dah dah dah, why not try to fill in the hole instead of making it deeper. Leave your shovels off the blog.

  46. Another “true” American who spells it like it is. Easy to see that he’s right, just reading the posts on this site. Might be why so many attorneys left for good, so many homeowners no longer visit and the only people left are frustrated hyenas with a mean streak a mile long… and not much else. What a great country!

    “What Do You Do When The Country Where You Live Is Literally Going Insane?
    By Michael Snyder, on February 2nd, 2012

    Do you ever get the feeling that the world around you is going crazy? If you live in America today and you are not in a television-induced coma, then you have probably had that feeling. It seems like almost everywhere you turn these days, there is someone that is seriously losing it. It is not just our politicians either. In every profession and on every level of society there are lots of people that appear to be a few fries short of a Happy Meal. So what do you do when the country where you live is literally going insane? When paranoia, fear and delusional thinking are commonplace, it is very difficult for a society to function normally. And unfortunately, some of the craziest people out there are working for the federal government. These days you literally do not know who you can count on. If you contact someone in a position of authority, that person may help you or that person may turn out to be a raving lunatic. Once upon a time, there was a feeling that most people in America shared a set of common values, but those days are long gone. These days, it seems like nearly everyone has their own idea of what “right and wrong” are, and so when you meet someone you never know what you are going to get. What may seem “totally insane” to you may seem perfectly normal to the person that you are trying to interact with.

    Yes, of course part of the problem is that the U.S. population has been very much “dumbed-down” over the years [and boy is it ever true!!!] Our government schools are pumping out millions upon millions of kids that are dumb as a rock [cats don’t have dogs. the parents must be in for something… nothing happens in a vacuum], and our entertainment industry is slowly turning the American people into a bunch of jibbering idiots.”

    Oh well… so many American-born authors lamenting the mental shape of their country. Pity.

  47. Omg fighting on here again
    Anyhoo
    Trespass unwanted
    Thank you for your info and time It is useful
    Im not only suing the appraiser- that was in fact on prior councils recommendation so i cant say too much else because there is more than one lawsuit.
    Im suing him /appraiser for negligent misrepresentation.

  48. Good! Thank you, check it out I will :]

  49. Christine, only YOU are the “snarling hyena”—get a life, beeyatch! Oh, I forgot—attacking people on here IS your life—wow…so pathetic.

  50. ehhhhhhhrrrrrrr my garsh.
    Well that just SUCKS huh!
    Looks like were all going to DIE at some point or another. well shit.
    I am only me. Just me.
    mooooor–gaaa-dges. kl-ooooo-sing.useeeeee-ful-nesssss: goooo-ood

  51. There are several investor lawsuits in New York City: Phoenix Light v. Goldman Sachs, etc. Finally, the investors are getting in on the act. It clearly states that the notes never made it to the trusts within the ninety day window. check it out.

  52. Hey, Poppy, I just forwarded one of those nasty posts from Christine/Enraged to Neil. Need to get rid of her. She has personally attacked me on several occasions. Negative and unnecessary, and I think she is a sociopath.

  53. Truly amazing… birds of a feather… and then, they all croak just the same. With HPB, cancer and everything that toxic attitude can trigger.

    “Being American Is Bad for Your Health
    Posted: 02/04/2013 4:34 pm

    Marty Kaplan

    Director, Norman Lear Center and Professor at the USC Annenberg School

    With few exceptions — like death rates from breast cancer — we suck. Our newborns are less likely to reach their first birthday, or their fifth birthday. Our adolescents die at higher rates from car crashes and homicides, and they have the highest rates of sexually transmitted infections. Americans have the highest incidence of AIDS, the highest obesity rates, the highest diabetes rates among adults 20 and older, the highest rates of chronic lung disease and heart disease and drug-related deaths…

    … Even non-Hispanic white adults or those with health insurance, a college education, high incomes, or healthy behaviors appear to be in worse health (e.g., higher infant mortality, higher rates of chronic diseases, lower life expectancy) in the United States than in other high-income countries.” And by the way, “the nation’s large population of recent immigrants is generally in better health than native-born Americans.”

    Oh well…

  54. Poppy,

    One posts as many, sometimes responding to their own posts, sometimes telling the rest of us we are interfering with the flow and ‘trying to get us back on track’ kind of posts under various names.

    There’s more than two names used.

    Trespass Unwanted, Creator, Creditor, Life, Free, Independent, State, In Jure Proprio, Jure Divino

  55. “You are not in any court, liar!” Whatever, pooper-scooper. Whatever.

    And that, my friends, is exactly why this country is in such disarray. With that kind of an attitude, the rest of the world is waiting for this country to simply… vanish! And it is well on its way to do just that.

    Oh well…

  56. @ justme

    I’m done…FYI: It roils me to see some people, overtaking this blog and spewing insults, where none are required or necessary. Completely inappropriate. My $.02

  57. You and I both know Pam Ragland’s closing was a sham… she was supposed to get a Fixed Rate but got an ARM’s worth of backlash…. here is part one of a multi-part interview with her about her using her intuition in finding murdered child Terry Smith and in fighting and winning her case against US Bank, who continues to soldier on and fight reasonable settlement offers. They even sold her house, likely to a straw bidder, within the 7 day savings TRO period so that she and her friends couldn’t buy it back. Scum.
    http://mortgagemovies.blogspot.com/2013/09/kingcastmortgage-movies-bonus-inside.html

  58. You are not in any court, liar! You are a bully and a fraud! Get a life. If you are so busy in court and traveling the world, as you point out, how do you stay on here continuously? And who anointed you the “censor” of information?

    And any “real” American has the heart and where-with-all to stand and fight for the principles by which we founded and understand we ALL must align and fight for change. It’s like only being loyal to the baseball team, as long as they are winning, a loser mentality.

    Criticism is fine, we need that, but your hatred of what we are is unfathomable. And the very personal insults are unacceptable, who do you think you are?

    Enough said.

  59. Remember when I said something like “you guys are making it hard to dig through all the BS to get to the useful stuff?” – your doing it again.
    ……
    If this is ripping the investors off why are the investors not doing something and stepping in? They are the money buckets that this started with, they have the means. I am not sure where I am going with that question…. but if the banks are jipping the investors why not start with them, if you can find them…
    My home was sold to me when the previous owner still owned it -they – WE- both did own it, until 2012! We brought it in 2005 (no lease or assumption) They did not file a satisfaction of mortgage until 2012 when it was actually paid off. They THOUGHT (the title company told them), the ‘construction loan’ they had tacked to the original loan was more like a ‘personal loan’ and it had nothing to do with the mortgage on the house. EHHH BuZZZ wrong.
    How did HUD insure it? Who knows. HUD says call The Title/closing place, geee…they “lost” all the records from closing and don’t know. First American backs them, call them and guess what? There never was, nor is there, any title insurance in existence for my home. SO they say call Denver HOC. And the beat goes on….
    Question; If it was found the loan should not of been insurable in the first place- might it void the current insurance from HUD? And if it did did void it- would they want my home? They would not get $$ ? Just a thought.

  60. “She has no skin in the game, nor is she an American…” To be in federal court, one has to be a citizen, imbecile. Unbelievable display of ignorance and stupidity. No wonder they all lose… Must be really something else to watch them in court if they even make it that far. What a fucked up bunch!

  61. And by the way, lenders and their agents have DOZENS Of ways of cheating mortgagors. ONLY a comprehensive mortgage exam can find them. Anyone who has found them can use them to obtain financial compensation or a favorable mortgage loan balance adjustment from the lender.

  62. Legal Malpractice BOOMING in Foreclosure Defense Industry

    Here’s a twist on legal malpractice and foreclosure that NOBODY but I wants to report.

    The Malpractice Scheme: Dozens of attorneys in the Tampa Bay area, including Matt Weidner, Tom Ice, Mark Stopa, Randall Reder, and Greg Clark, vigorously promote their foreclosure defense services. They get foreclosure victim clients by promising to “keep you in the house as long as possible.” They charge $1500 to $3000 retainer (a downpayment gift) and $500+ a month till the foreclosure becomes final. Meanwhile they file cookie-cutter pleadings they copied from other attorneys complaining about “show me the note,” bifurcation of note from mortgage, securitization, wrong track of ownership of note, lack of standing (wrong plaintiff), vapor money (lender deposited borrower’s note and used that to fund the loan), and other nonsense. This delays the foreclosure, but the foreclosure inevitably goes through anyway and the client loses the house. The lawyer never bothers comprehensively examining the mortgage, note, and all related documents for evidence of torts, breaches, fraud, and legal errors, but sometimes sells useless services like securitization audit, loan audit. In the end, to avert foreclosure, the lawyer cons the client into a short sale, deed in lieu of foreclosure, keys for cash, or an onerous loan modification that leaves the client owing double to triple the value of the house, and facing a huge balloon the client cannot pay.

    Why is this malpractice? The bank accused the foreclosure victim of breach of contract. The first things the attorney should do:

    1. Say “give me the contracts and all related documents, letters, lawsuits, etc.,” then
    2. Search for the causes of action in them against the lender or lender’s agents, then
    3. Attack the lender and agents through settlement negotiation or lawsuit, then
    4. WIN compensation for the mortgage victim’s injuries.

    You see, historically, lenders and their agents have cheated NINE OUT OF TEN mortgagors. Settling or suing on the basis of those causes of action can get financial compensation for the mortgagor.

    Thus, the mortgagor can fight one of two battles:

    1. The foreclosure, which the borrower statistically always loses.
    2. The mortgage, which the borrower statistically always wins.

    Which battle makes most sense to you?

    Our problem lies in the fact that no MORTGAGE ATTACK legal industry exists. Foreclosure Defense Lawyers focus on the easy money of defense for $300 to $500 a month and the mortgagor loses the house after paying the lawyer upwards of $10,000 to $30,000 for doing virtually no work on the case. They do this KNOWING the mortgagor will lose the house. Those lawyers have not learned how to examine mortgages for causes of action, and I believe most have become too lazy and incompetent to serve the real interests of the client. Many such lawyers ballyhoo claims of winning when the court temporarily dismisses the foreclosure complaint for lack of standing because the wrong plaintiff sued. They plaintiffs nearly always correct their paperwork, get standing, refile or appeal the case, and win. Then the court sells the property and orders the mortgagor out of the house.

    The net issues: mortgagors cannot find competent lawyers to examine their mortgages. And, the mortgagor with an examination report showing causes of action in hand cannot find a lawyer to attack the mortgagee over those causes of action.

    Herein lies a huge opportunity for lawyers and mortgagors. Mortgagors do have a mechanism available for negotiating with the lender to obtain a reduced loan balance and payments they can afford, or financial remuneration for their injuries. They can simply contact the lender and demand a solution. If the lender balks, the mortgagor can contact Government regulators and report the lender for violating regulations. That usually brings a quick remedy. Severely injured borrowers might even get the house free and clear WITHOUT NEEDING the services of a lawyer.

    The public needs to know about this technique and opportunity. I can connect people with a competent mortgage examiner, and I charge nothing for my service. You can read numerous articles I have written on related subjects at http://bobhurt.blogspot.com. Many people come to me for help. Some go on to ignore my encouragements, and lose their house. Others get their mortgages examined, and I help them discover how to proceed from there.

    If you want to learn more about this, and don’t want to read my articles, contact me. I have retired from the computer industry and have the time to help people free as my way of giving back to the community. I have no business obligation to any company.

    Before deciding NOT to contact me, ask yourself what YOU would do with a mortgage exam report that showed causes of action against YOUR lender.

    Bob Hurt
    727 669 5511
    Clearwater, Florida
    Click to E-mail Me (http://r.beetagg.com/?48F181)

  63. And there they go again… The regular pack of snarling hyenas. Sad commentary on why this society is so f’d up and won’t pull through. Afflicting collective imbecility.

    Oh well… the rest of the world is moving on…

  64. It boggles my mind how you all let this “abuser” speak to you the way she does. She has no skin in the game, nor is she an American…these Internet tough guys. What a joke.

    She does not speak the truth. She uses this forum to bolster her own esteem. Most of her postings are “copy and pastes” and “paraphrases” of other’s. Gosh, she is far worse than stripes. her attacks are very personal and directed at most of you, claiming her truths are evident and most here are stupid. Stupid is never having what you need, by your own hand. Hurting other’s from your own internal combustion, is dysfunctional and to be pitied.

    This blog is not for abusing other’s, nor is it her’s to control/take over. We all have enough strife and horror to live through each day. She is a parasite…not an altruist, who cares for other’s and has their best interest at heart! Racist, hater, abuser, comes to my mind. Let her start her own blog…with the skin heads and KKK…all people haters!

  65. Blah blah blah goes the spoiled brat bully bitch day in/day out.
    Never ending, always blaming, constantly spewing…and telling everyone to “grow up”. If “growing up” means becoming a supreme bitch like that, no thanks.

  66. LOL. No control. How does it feel?
    When will you post as someone else?
    Today you’ve been trolling this blog and posting since 9:09 AM, right?
    Pay must be good.

    The link where the broker said she’d pay the mortgage, and he was a strawberry picker making $14,000 and got a home worth over $700,000.

    I posted the link of my free will and because I could find it after all these years.

    http://drhousingbubble.blogspot.com/2007/05/yearly-income-14000-purchase-of-house.html

    The Creator in me is the same Creator in another.
    I don’t have to go to war with myself to know who I am and to know who you are. Your posts vibrate as you, no matter what name you use to keep others from knowing its you posting.

    I will always see you because you and I are One, we have the same Creator. I know you have to earn a living. I know we create our own reality by what we do.

    I am me. I have free will. I will do what I do as long as it is my will to do it. The system of control is crumbling. The Declaration of Independence mentioned the truth.

    All men are created equal.
    So posting anything that gives the illusion of not being equal would not be true. If you see a dysfunctional world, then it is what you are living in of your free will.

    There are many experiments with reality and no two people experience it the same way.

    I can’t go down that low in vibration, so i laugh at the power I have to not be affected by words typed in a computer by someone paid to ‘be you’.

    All debts are being called in. The war for the soul is a debt being called in to. A time will come where each of us will be stuck at the vibration we chose for this time, and we will experience the reality that goes with that choice.

    I wish everyone well on the journey they’ve selected for the future.

    Trespass Unwanted, Creator, Creditor, Life, Free, People, State, In Jure Proprio, Jure Divino

  67. Another one of those deeply disturbed individuals just proved my case. Sad, sad society. The rest of the world moves on… Case closed.

  68. Paid to discredit. Earn that living. Ah ha ha ha

    Still using the word, lost. LOL.

    Everyone is anonymous.

    It’s all an illusion.

    Earn that living. I see you.

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

  69. Correction on the Extreme Makeover homes causing neighborhood homes to pay higher taxes.

    This comment refutes that wrong understanding.

    Chris Gibson, Dickinson County deputy appraiser, said the “Extreme Makeover” home won’t cause the property taxes or valuations of neighbors’ homes to rise. The neighbors would face higher taxes only if they were to build homes with the same square footage, number of bathrooms and other features of the Tutwilers’ home.

    http://cjonline.com/stories/111808/kan_357239109.shtml

  70. And why are people who lost for want of a fight, didn’t play their cards appropriately or even simply lost because the timing was wrong have such a hard time moving on? Why do they keep haunting sites where people are still in the fight while having nothing to offer other than attitude? Why do they resort to name-calling when asked to cite their sources? Anonymously, to boot! Such moral courage!

    Is this country dysfunctional? You bet!

    Is this country going to overcome the dysfunction? increasingly doubtful… The dysfunction didn’t come out of thin air. it is ingrained. Nothing happens in a vacuum. Nothing. Not even today’s killing in DC. It is all symptomatic of a very, very sick and angry society. For some strange reason, that dysfunction needs to be publicly played out day in, day out. Sad state of affairs. The rest of the world is moving on…

  71. Here’s a bit of histor from 2009 that can show how the appraisal situation gets caught in the banking transactions.

    The price of a home sold at high cost can shift an entire neighborhood’s appraisal value and cause tax increased based on that value.

    It doesn’t discuss shifting the appraisal value, but the end result is, it fell into the average price of comparable homes as he posted about how many homes were sold in the area (as if it were a hot location) within a period of time.

    http://www.doctorhousingbubble.com/real-homes-of-genius-770000-in-mortgages-on-a-900-square-foot-culver-city-home-housing-short-sales-and-the-hidden-mortgage-equity-withdrawal-machine/

    I won’t quote a source but searching the net should find something but that t.v. show, Extreme Makeover, would put people in new homes, mcmansions, and that construction was shifting the appraisal value of neighborhoods and as neighbors were initially happy for the family that got the ‘free home’, they soon found out that the value of that home was averaged in with their neighborhood home values and they paid higher property taxes as if that larger home was an improvement in their neighborhood. (the article doesn’t mention it like that, but just search for how many unhappy families and neighbors there were left after that new home was built

    Seek and ye shall find.

    Trespass Unwanted, Creator, Creditor, Life, Free, Independent, State, In Jure Proprio, Jure Divino

  72. Attention Industry controller / paid shill.

    I see you and know who you are. I know you post as many people and reply to your own posts.

    I have nothing…I mean nothing to say other than what was said.

    You do not control me. You do not decide what I see, hear, nor experience. You do not give me timelines to work within nor are you responsible for my thoughts, experiences, ideas, and actions.

    If I have a link to share and it is my will to share it, or it is still available on the internet and the site that had it hasn’t changed it’s name or shut down, of my free will I’ll share it.

    You are afraid. You would not have such anger unless somehing I mention scares you.

    I notice it all the time. I post something, it causes the shill scare and then is followed by a post to discredit.

    You don’t need to discredit me unless your employer requires it.

    I don’t discredit you while you parrot information from removingtheshackles.blogspot.com and other places.

    Others reading this blog.
    Not everyone here has your best interest, but you don’t need me to tell you that.

    Just pay attention to the advice given in a prior post where One told another to ‘lie’ about a financial transaction.

    I can post ‘who I am’ all day long and One would have an argument with ‘self’ just to try to be better, or higher, or smarter, or in more control.

    Control is an illusion and the day will come when they figure that out.
    I have no concerns and that’s where I leave this comment.

    Trespass Unwanted, Creator, Creditor, Life, Free, Independent, State, In Jure Proprio, Jure Divino

  73. “I saw articles (?) … the article (?) goes on to say …

    I read… I saw… I heard… Someone told me… Never, ever any source supporting that sort of hearsay. Second, third, fourth hand information is not information. Why aren’t people ever citing their sources?

  74. Deborah Wynn,

    I can’t dispute those facts.
    I just happen to have a comprehension of contracts.

    They were not compelled to perform for us.

    That degree of separation is why they are not ‘reachable’ in my opinion.

    There’s not much time nor money anyone has to ‘reach over a direct transaction to go after someone else who was not part of the direct transaction.

    If the appraiser was the reason for you to ‘not’ get the home due to discrimination or some other noticeable reason, then we could go after them, but by virtue of them using comparable values of homes that sold in the area to make the appraisal, we can’t prove that homes did not sell at the price they appraised comparable properties they appraised by the time we purchased.

    There were people ready to flip homes and money was easy. Someone could overpay for a home, do the labor, upgrade the appliances, throw in a pool or some expensive landscaping and sell it at cost + a profit. The buyer getting easy money and an interest only loan for 7 years could have accepted that value and signed a promissory note to pay it, thinking in 7 years the price will go up and they could pull equity to make the future payments.

    All I know is they use what homes sold for in the area to come up with their numbers, and if a lot of people are buying, and others are enticed to sell because prices are rising, it can probably be proven that they were within a certain range with each appraisal even as they raised from borrower to borrower into the stratosphere.

    I saw articles where farmers making $17000 a year purchased million dollar homes on interest only hoping the value would rise before the rate reset. When they had concerns on payment, they were told by the broker that if they could not afford to pay the mortgage, the broker would pay it. Of course the article goes on to say they hit a point where they could not make the payment, but the broker hit a point where homes weren’t selling like they used to so the farmer rented out rooms to other people to make the payments, but they were all low wage and living sharing a million dollar home.

    Yes they were taken advantage of, but yes they signed the document. yes someone made a promise they could not/would not keep, but yes they purchased more home than they could afford, yes the lending was predatory to put someone in a home they could not afford, but yes whoever signed the documents saw the home, and had to agree to sign the docs and they moved in and lived there.

    So there is some accountability from all involved, but you make a valid point and there is no reason to rebut it. I’ve just seen how the appraisers worked in the area I purchased and I saw how people wanted to live in a location and was willing to pay anything to be there, or in that house and as each One made that decision, the price rose and rose and the appraisals got higher and higher as more and more money was lent allowing more people to promise to pay more money, a vicious cycle.

    Trespass Unwanted, Creator, Credit, Life, Free, Independent, State, In Jure Proprio, Jure Divino.

  75. in my Depo I said this in response to the question why I did not think to ask for the appraisal report at closing
    ” if it was good enough for the bank i figured it was good enough for me”
    but i also thought that i was signing a good faith contract with shared risk.
    Case on appeal 9th circuit 12-16192. if interested. may not help many every case took different turns and twists, wonder why- how many ways can they screw us out of due process.

  76. oh yes, the sick part is you must ASK for the appraisal report.

  77. TU very good BUT
    The Appraisal REPORT is intended for the use of secondary market participants RELIANCE upon it as accurate true reflection of the real market value to justfy the investors risk in that deal. it is as important as clear title in a mortgage loan transaction .
    Read the governing standards for appraiser USPAP and newly revised fannie/Freddie guidelines.

  78. Deborah wynn, your comment on the prior post on September 15, 2013 at 9:39 pm said:

    So TU
    Hence the appraiser must be held to account. No appraisal for value over loan amount – no loan
    Because – you relied on it

    I would agree except for this caveat.

    We didn’t hire the appraiser and the pretender did.
    We received a copy of what they decided, but they had given the copy to the one who hired them.

    Pretender-to-appraiser-to-pretender-to-homeowner.

    What they did was separated from us, no contract, no obligation to perform for us.

    We could have hired our own appraiser, but most of us, financed the cost of the appraiser with the mortgage as part of the fees charged by the pretender for services they arranged and set up contracts for.

    Trespass Unwanted, Creator, Creditor, Life, Free, People, State, In Jure Proprio, Jure Divino

  79. “I’m either more ignorant than the day I was born…” It does appear that way at times, huh? The more I learn, the less I understand and the less I can analyze it with the tools I was provided with as a kid. It feels as though, all of a sudden, everything we lived and functioned by was an enormous illusion and reality never was what we, our parents, grandparents and generations before them believed it to be and instilled into us. Either it was a monumental joke visited upon humanity or we are at the brinks of collapse as a species…

  80. We may be on our own, Christine, but it isn’t because one attorney turns out to be a nogoodnick. But something does become clear – I’m either more ignorant than the day I was born or a certain group of people are.t least by and large.

  81. Neil, why, why do you go on and on and on about what to date has been only conjecture about the “money trail”? You have steadfastly refused to identify why you are so confident the investors money was used to fund loans. Maybe it was. You have never articulated, not really, what’s wrong with that. Is it a violation of the contract between the depositor (?) and the investors? Whose claim is that? What actual tenets of the law in regard to the borrower were violated by that act? (“The lender named on the note was not the lender”
    just doesn’t get it, I would hazard.) If it were a failure of a meeting of the minds that is fatal to the formation of a contract, how is that – exactly?
    And if so, what does it mean to the borrower’s obligation? WHAT says a collateral instrument to such a contract (note) is not perfected even though recorded?

    I, like everyone here, have no doubt none of the bums did anything according to Hoyle, and I personally doubt even had they, securitization is yet a legitimate deal, and also as for me, though I lack the savvy to prove it, I still believe every loan had to be seasoned before qualifying for securitization.
    Also seems to me you’re in a position to confirm or disspell that and yet you ignore what could be a very big deal. (Is that why the GSE’s fashioned their guarantees, as a self-help utility to avoid the statutory seasoning requirement? And why, though that appears somewhat obvious.

    And just as steadfastly, you refuse to address the errant reliance on article 3 / possession of bearer notes as the bomb on THESE notes.
    Nothing anyone thinks is of value actually means didley unless one can get at it. You make zero inroads on discovery. You’re an attorney, and as such, it seems to me you should and could attack bs hearsay affidavits and declarations, generally the gravamen and backbone of the banksters’ motions to dismiss or for sj. Yet you don’t. I’m still greatful for this site, but I don’t get it, not after all this time.

  82. Figueroa v. Szymoniak decision granting Plaintiff his motion to remand to state court (after Szymonioak played Deutsche Bank’s game of removing the case from state court and throwing it into federal court.)

    Sorry JG. I have now shed one more layer of illusions. After reading that case, it does appear that the homeowners’ hero committed serious malpractice. She wouldn’t be the first one. Recall Mitchell Stein.

    Time for people to finally realize that they are on their own…

    http://scholar.google.com/scholar_case?case=8564022742635961839&q=figueroa+v.+szymoniak&hl=en&as_sdt=2,36&as_vis=1

  83. Yes he has. And he conceded that the confirmation process wasn’t something he wanted to go through. Why? Because it would be drawn out, painful and humiliating for him. People are fed up. They’re starting to put pressure on their reps. Hopefully it isn’t too late already…

  84. Summers had withdrawn from consideration, so I read.

  85. i see it doesn’t look good for LYnn S., but we haven’t heard her side – the fat lady isn’t singing just yet . But, the most interesting thing at that link was the ‘thing’ from an alleged secretary of LPS Default Solutions, Inc. alleging to authorize so and so to execute documents. I’m not going to try to explain what’s wrong with it. I mention it to draw attention to its existence in hopes that people capable of attack make it, for whatever that’s worth at this date to those victimized. It goes back to MERS, or at least Hultman. I hope I live long enough to see those guys where they belong. I hope all of us do.

  86. Ellen Brown has never been accused of stupidity. Here is her excellent analysis (based on the Palast’s one) in which she demonstrates why the US engages in constant wars: it NEEDS them. Or, at least, it believed it did. Until people started saying: “Enough is enough”.

    Nothing happened in the spring. People are getting ripe to take on our leaders. As they should.

    This will not end well…

    http://www.atimes.com/atimes/Global_Economy/GECON-01-110913.html

    Sep 11, ’13

    Summers, Syria and the Fed
    By Ellen Brown

    “The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.” – Prof Caroll Quigley, Georgetown University, Tragedy and Hope (1966).

    Iraq and Libya have been taken out, and Iran has been heavily boycotted. Syria is now in the cross-hairs. Why? Here is one overlooked scenario.

    In an August 2013 article titled “Larry Summers and the Secret ‘End-game’ Memo,” Greg Palast posted evidence of a secret late-1990s plan devised by Wall Street and US Treasury officials to
    open banking to the lucrative derivatives business. To pull this off required the relaxation of banking regulations not just in the US but globally. The vehicle to be used was the Financial Services Agreement (FSA) of the World Trade Organization (WTO).

    The public bank alternative

    Countries laboring under the yoke of an extractive private banking system are being forced into “structural adjustment” and austerity by their un-repayable debt. But some countries have managed to escape.

    In the Middle East, these are the targeted “rogue nations”. Their state-owned banks can issue the credit of the state on behalf of the state, leveraging public funds for public use without paying a massive tribute to private middlemen. Generous state funding allows them to provide generously for their people.

    Like Libya and Iraq before they were embroiled in war, Syria provides free education at all levels and free medical care. It also provides subsidized housing for everyone (although some of this has been compromised by adoption of an International Monetary Fund structural adjustment program in 2006 and the presence of about 2 million Iraqi and Palestinian refugees).

    Iran too provides nearly free higher education and primary health care.

    Like Libya and Iraq before takedown, Syria and Iran have state-owned central banks that issue the national currency and are under government control. Whether these countries will succeed in maintaining their financial sovereignty in the face of enormous economic, political and military pressure remains to be seen.

    As for Larry Summers, after proceeding through the revolving door to head Citigroup, he became then state senator Barack Obama’s key campaign benefactor. He played a key role in the banking deregulation that brought on the current crisis, causing millions of US citizens to lose their jobs and their homes.

    Yet Summers is President Obama’s first choice to replace Ben Bernanke as Federal Reserve chairman. Why? He has proven he can manipulate the system to make the world safe for Wall Street; and in an upside-down world in which bankers rule, that seems to be the name of the game.

  87. If this is true (and it appears to be…) this is horrible: a homeowners’ hero (and one of the very, very few ones t that) fallen from grace for something not quite legal… I pray Mandelman is wrong. And yet, I know he isn’t. His post clearly demonstrates that he understands the issues and did, indeed, read the hundreds of e-mails between Szymoniak and Figueroa to which he alludes.

    A terrible, terrible blow to homeowners.

    http://mandelman.ml-implode.com/2013/09/some-of-lynn-szymoniaks-millions-may-belong-to-someone-else/

    “Literally, and quite understandably, overnight… Lynn Szymoniak became a hero to millions of American homeowners who had been living the nightmare of being at risk of foreclosure. And a few months later, that 60 Minutes segment, “The Next Housing Shock,” won the most prestigious award in business journalism, a Loeb Award, for explanatory reporting.

    Congratulatory wishes and heartfelt thanks went up all over the Internet, as Lynn was showered with praise for what she had achieved, not just for herself, but presumably for millions of Americans. And in her countless interviews, she seemed to say all the right things…

    …However, I’m now unsure what made Szymoniak’s multi-million dollar dream come true…

    Now, it appears that Lynn Szymoniak’s millions may not have come her way… the right way. It’s a story whose details are at times so distasteful to consider, that it’s likely to make some people unable to do anything but turn away and wish it gone.

    But it’s not a story that’s going away… rather it’s one that’s going to court.

    It’s the subject of a complaint filed March 4th this year in Broward County, Florida. The defendant is Lynn Szymoniak.

    The suit alleges that Szymoniak, and other lawyers with whom she worked, committed legal malpractice, breach of fiduciary duty, unjust enrichment, and fraud…. against a fellow homeowner at risk of foreclosure.

    The plaintiff in the suit alleges that in 2010, over a period of roughly six months, Lynn Szymoniak was his attorney, and that she led him to believe that she would be filing a “Qui Tam,” or False Claims action in which HE was to be the “RELATOR,” and SHE, his legal counsel.

    Had that been what occurred, the $18 million award would have gone to the plaintiff… and not to Ms. Szymoniak… but instead the Qui Tam lawsuit that was filed named Lynn Szymoniak as the “RELATOR,” and so Lynn and her lawyers divided up the multi-million award without ever mentioning anyone else being involved.

  88. Another fine which will disappear in Lalaland like all the rest of them, to never be seen again and never be used to compensate wrongly foreclosed upon homeowners…

    JPMorgan Agrees To Pay At Least $750 Million In Fines For ‘Whale’ Losses: Report

    Posted: 09/16/2013 3:32 pm EDT | Updated: 09/16/2013 3:55 pm EDT

    http://www.huffingtonpost.com/2013/09/16/jpmorgan-agrees-to-pay-at_n_3936427.html

  89. I really have a case for bad power of attorney or “Attorney in Fact” claims by OCWEN.

    My original loan named an entity that did not even exist as the supposed lender. But the listing of “America’s Wholesale Lender Corporation is not a scribner’s error either. Even before my loan origination in 2005, the Pagano v “America’s Wholesale Lender Corporation” case was decided, showing that a foreclosure could not be performed in the name of a void entity. Same entity was still used on my loan as the name of the LENDER. Thus I have a void contract. And it also involved fraud at the inducement because I was insisting on a non-Countrywide loan. This thing I have is apparently Countrywide in disguise.

    This means there is no MERS membership BTW, and no way for MERS to be used to ‘fix’ the problem.

    But lets go ahead and layer on some more ‘ridiculousness’.

    Next we have Litton and LPS’s LSI unit putting together the extremely late assignment to the Trust in 2010. This was a problem assignment to a REMIC in that
    1) it attempted to assign a loan that was allegedly in default
    2) it attempted to assign a loan after the REMIC was closed
    3) it attempted to assign a supposedly defaulted loan into a REMIC after the 2 year ‘swap’ period
    4) it attempted to assign a loan to the entity that has already attempted to submit a POC to a BK court case (fraud upon the court)
    5) it attempted to assign a loan to the improperly-cited version of the REMIC trust’s name.
    6) MERS Inc had no way to support assignment of the loan from the VOID entity named as my supposed LENDER.
    7) it also attempted to ASSIGN the NOTE

    Then in 2012, after OCWEN buys Litton, we have OCWEN trying to FIX the badly named trust entity on that 2010 assignment. This is a problem in that
    1) They attempt to use the “Attorney in Fact” status to represent BOTH parties. HOW can they? The badly named entity in the prior assignment does not exist.
    2) They attempt to claim that there was “Good and Valuable Consideration”. Now HOW did that non-existent thing take or give anything and acknowledge same? How did the REMIC trust offer anything of value without voiding the transaction both because of the TIMING, but also because the trust could not have paid anyone anything for this SUPPOSEDLY DEFAULTED loan!

    Basically, Ocwen WORKS FOR the entity that is the Trustee of the REMIC. This is a VERY SELF-SERVING assignment, just like the original attempt to assign the loan to that same REMIC that was so badly done by Litton/LPS/LSI and needed a further ‘fix’.

    Yeppers, the bad Litton assignment got a payment of $1300 for that bogus attempt to ‘fix’ the mess. They also recorded that second assignment after review. These clowns just try to ‘paper over’ every fraud.

    BTW, remember Litton/LPS had supposedly ‘assigned’ the NOTE to that thing that did not exist. Then, when they tried to ‘fix’ that, they only assigned the DOT. This would seem to leave them out on a limb, needing to admit the attempted “assignment” of the note was pure fiction. IF not, it brings up issues in some states. But in CA the DOT follows the NOTE, supposedly. I doubt that any amount of assigning is going to fix the problems with this loan.

    If you see such an ‘Attorney in Fact’ assignment, especially to any of the trusts, I think it it is going to be shown to be fraudulent.

  90. Enforce the laws and stop the Fed from handing them $trillions ,, force the banks to repatriate their stolen booty.

  91. I think Neil G. only touched the tip of the iceberg. The Hud 1 in my closing was done as if it were a refi instead of a purchase, about $8,000 was lost in the transaction, the warehouse lender did not appear at anytime in the official records (i.e. Note and Mortgage), the alleged lender is now bankrupt, they assigned the Note after the first foreclosure action commenced, they assigned the BS Note to the trust five years after it closed and then sold the Note to Ocwen, who is literally the bottom of the barrel in servicers. Ocwen did not honor the court-ordered settlement agreement, and now is being sued for breach of contract and bad faith.

  92. It’s time to End all foreclosures !!!

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