SERVICER ADVANCES: The Big Modification—> Foreclosure Scam by Wells Fargo and Others — “Better be 90 days behind”

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see http://www.occupy.com/article/how-wells-fargo-fraudulently-foreclosed-florida-homeowner

The Big Question:

How can there be a declaration of default

when the creditor is showing no default and no loss on its books?

I have been through the ringer myself, as the homeowner in the article linked above said about himself. We have a steady policy of the banks luring homeowners into default or luring them into deeper defaults. The reason is clear. They want the foreclosure — not the house and definitely not the money owed. As one BOA manager said “we are in the foreclosure business not the modification business.” The facts are always the same: the homeowner is faced with two choices based upon the information that comes from the only source he or she knows about — the party claiming to own the loan or claiming the authority to service the loan. In nearly all cases neither representation is true.

The two choices are to find another way to get help from friends and relatives (i.e., forget about modification) or go into a default. The message is perfectly clear that the “customer representative” is inviting them to go into default. But they have a script that carefully avoids the direct words of “I am telling you to go into default.” And so nearly all judges say that this is not illegal legal advice and not fraudulent misrepresentation, even though the homeowner is told that there is nobody else they can talk to about their loan.

Millions of homeowners were looking for modification rather than a free house — mostly on loans that had reset to unaffordable monthly payments that were not properly disclosed at closing and which should never have been approved by any legitimate underwriting process. In fact, such loans were never approved prior to the era of the illusion of securitization in the secondary markets where mortgage loans are bought and sold. Industry practices, rules and regulations preventing banks from approving loans in which it was obvious that some or all of the terms would be breached based upon current information. So if a borrower is approved for a mortgage with a teaser payment of $500 per month in a household that grosses $50,000 per year, it is obvious what will happen when the payment resets to $5,000 per month ($60,000 per year) — $10,000 more than their entire income.

The ONLY reason why such loans were approved is that the banks were not putting the bank at risk in such loans and were making money hand over fist in the “secondary” markets that were completely under the control of the same banks. They sold that loan as though the $5,000 per month would be paid — and even had ratings and insurance indicating that the loan was “low risk” when the bank knew for sure that default was imminent due to the reset  of the amount of payments. And in fact, payments were made to the investor creditors just as expected —> but paid by the investment bank as “Servicer advances.”

But were they really paying the certificate holders in REMIC Trusts? Yes, but they were paying investors out of their own money which was hijacked into a commingled slush fund. But since they were called “servicer advances” that are now being bundled as derivatives and sold to the same investors as securitized debt, it is the SERVICER who has a claim for the advanced money even though it wasn’t their money that funded the “advances” which were really refunds out of the money paid by the investors themselves.

The banks created this scheme so that investors would remain ignorant that anything was wrong with the portfolio despite mountains of delinquencies that were DECLARED BY THE SERVICER to be “defaults.” And so the investors would buy more “mortgage backed” securities they were neither mortgage backed nor securities because the Trust never saw a penny of the offering of mortgage backed bonds and never operated nor purchased nor received ownership of the loans.

Those “advances” or refunds or whatever you want to call them can be “recovered” (I would say stolen) by the investment banks masquerading as the Master Servicer of a REMIC Trust that existed only on paper and not in the real world. But they can only “recover” those advances (that they are quickly selling to investors through new securitization schemes) if the property goes into foreclosure. If the property is foreclosed then the servicer no longer needs to make advances although in many cases it continues to do so in order to keep the investors in the dark. But more importantly it is ONLY when the property is sold that the “Master Servicer” can “recover” those servicer advances.

It’s complicated. But if you stop for a moment and put pencil to paper suddenly the reason for those long delays in prosecuting foreclosures becomes crystal clear. The investment bank is using the investor money to make “advances” to the investor to make good on the expectations of the investor in receiving income from their “investment.” Since the investment bank is not actually making the advances, the “receivable” due to the investment bank under this convoluted scheme increases with each passing month (without any corresponding liability or expense). So the investment bank that controls the slush fund where investor money is kept, makes payments to the investor for the amounts due regardless of whether the borrowers are paying.

In the example above, they want to keep that time running as long as possible. By making advances of $5,000 per month, that is $60,000 per year and over an 8 year period, for example, the receivable is now $480,000 without the bank having to spend one dime and in fact, actually collecting fees during the entire time at a premium rate for those loans that are distressed. So they have a $480,000 asset waiting. But there is a catch. They can only get the $480,000 if the property is foreclosed and the property is sold. It is only out of the sale proceeds that the bank as “master Servicer” can lay claim for its $480,000. Of course in the end the investors get screwed because that $480,000 was their money and THEY should have received it. But they didn’t and they don’t. Just read the prospectuses on the bundling of “servicer advances.”

So Wells Fargo and other banks adopted strategies that lure homeowners into default and get them believing and hoping they will get a modification when in fact they don’t give the modifications at all. In truth they are neither authorized to collect the money nor enforce the obligation because their so-called authority comes from the PSA for a REMIC Trust that was never used, never funded, never in operation. And they do it in a variety of ways—

Here are some excerpts from the article in the above link from about a year ago:

Occupy.com Article

Wells Fargo put them “through the ringer”. “We were happy living in a rural-suburban area. Time went by quickly. One thing that we always did was pay our bills on time. We took pride in our credit score, which were 760 each. We were so proud when we needed a new car we could just “walk” off the lot with it. [I’m] not sure what happened, where everything went wrong. I actually believe it was President Obama telling Americans to apply for a Home Affordable Modification Program (HAMP) loan. When job loss occurred in our family, I was aware that we would qualify for that loan and I called Wells Fargo to inquire. They put us through the ringer. That is what started our tumble down the credit hole. Wells Fargo approved a forbearance agreement, while we submitted a HAMP application in 2009.” – See more at: http://www.occupy.com/article/how-wells-fargo-fraudulently-foreclosed-florida-homeowner#sthash.iIM39zPY.dpuf

[HAMP had been introduced by the Obama administration as a tool to help homeowners keep their homes. It turned out that the yellow brick road led many into foreclosure disasters – a prolonged disaster that kept homeowners’ hope alive while chipping away their savings, their equity, and ruining their credit scores. Americans were watching in disbelief while the servicers and banks didn’t comply with the HAMP requirements, continued with dual tracking (processing modifications and foreclosing at the same time), pushing homeowners towards in-house modifications even when they qualified for HAMP, and many other irregularities.] – See more at: http://www.occupy.com/article/how-wells-fargo-fraudulently-foreclosed-florida-homeowner#sthash.iIM39zPY.dpuf

This is when the games began,” continued J.S. “The forbearance ruined my credit score. Every fax I sent to Wells Fargo has not been received – that’s what their representatives claimed. Week after week, always [with] a two-week lag. Always something missing. Then I started my Internet research on “lost paper work” and I found Living Lies website, which led to Foreclosure Hamlet, and now Facebook. My search for answers brought many wonderful people in my life together with the answers and they helped me through the darkest moments of my life. [Editor’s note: Ruining the credit score of the homeowner is key to insuring a foreclosure. If their credit score remained high they would be able to refinance and the investment bank as Master Servicer would have no claim for “servicer advances.”]

“In 2009 I was informed by a Wells Fargo representative that I may not be approved because someone moved my application out of the review folder from her computer! Their incompetence was limitless. Eventually I was approved for a modification, but it was more than my original mortgage. However, I wanted to save my house at all costs. At this time I had a good job. [But] after the BP oil spill my salary was cut in half and I re-applied for the HAMP loan in 2010. – [Editor’s Note: I have personal knowledge and tape recordings of Wells Fargo employees speaking without realizing they were being recorded by their own system. In those recordings they acknowledged that images and data from one borrower was mixed in with another. They agree that they shouldn’t admit that to the borrower. Then Wells Fargo blames the borrower for not having sent the required documentation which they have had all along or destroyed. Evidence in a case involving BOA and other banks shows that on a periodic basis the banks simply destroy all applications and submissions by borrowers.]

“I was told by Wells Fargo that we had to be 90 days late before they would consider my HAMP loan application. At that time, I still had a great credit score, and now they were telling me to actually STOP PAYING MY MORTGAGE. I think that I literally freaked out then. I didn’t want to lose my home.” [This is the big one. And up till now it has been foolproof. Most homeowners are unaware of the news or history of other borrowers. So when they are told about the “90 day” requirement, they think they don’t qualify for relief unless they withhold payments for 90 days. But that isn’t true for two reasons — the bank is only telling them about the policy of Wells Fargo, not the investors (sometimes Fannie or Freddie).  The bank is creating the impression that they are a reliable source of information when in fact they are lying to the borrower in order to get them into default, foreclosure, sell the property and then claim “Servicer advances.”]

One of the biggest traps by the servicers during the HAMP modification process was pushing homeowners into default without telling them that they would be reported by those same servicers to the credit agencies, thus ruining their credit.] – See more at: http://www.occupy.com/article/how-wells-fargo-fraudulently-foreclosed-florida-homeowner#sthash.iIM39zPY.dpuf

“After reluctantly not paying my mortgage for 90 days, I was able to apply for a HAMP loan. Again every fax I sent was lost. I didn’t know what to do anymore. My frustration reached its limits and I realized that next time I will FedEx my documents, so they can’t lose it, since there will be a tracking number as a proof of delivery. The new HAMP application letter stated that paper work was due on or before Feb. 14, 2011. I gathered everything and sent on Feb. 3, 2011. It was received on Feb. 4, 2011, and signed via FedEx tracking. On Feb. 16, 2014, I received a letter from Wells Fargo that my documents were not received. WHAT? I called them right away. They say they never received my package. After I cried over the phone, their representative sounded very upset and finally told me, ‘We have some of your documents, but things are missing.’ – See more at: http://www.occupy.com/article/how-wells-fargo-fraudulently-foreclosed-florida-homeowner#sthash.iIM39zPY.dpuf

“I called FedEx and spoke to the supervisor of the delivery person and she tried to call Wells Fargo but I was told no one would answer the phone and she never contacted me again. I had no choice but to wait for foreclosure proceedings. They obviously wanted to give me the run around. I was served Dec. 27, 2011. I was ready. – See more at: http://www.occupy.com/article/how-wells-fargo-fraudulently-foreclosed-florida-homeowner#sthash.iIM39zPY.dpuf

41 Responses

  1. – please pass this along –
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  2. Reblogged this on California Freelance Paralegal and commented:
    Very good blog post by Neil Garfield on mortgage services stringing homeowners along on loan modification applications.

  3. Foreclosure/Standing: bank failed to prove standing to foreclose when it filed complaint because bank was not payee on note, endorsement accompanying note was undated, and bank did not prove that assignment occurred before complaint filed – Harris v. HSBC Bank USA, N.A., Case No. 4D14-54 (Fla. 4th DCA Sept. 9, 2015) (reversed and remanded)

  4. Marco effen Rubio had a foreclosure on his house in FLA.
    Did he write to you?

  5. JG,
    In my opinion the only one that can get access to the servicer’s database is CFPB , but only if they are informed the loan was paid
    Then the servicer would be left explaining why they hired a trustee to take the home., the trustee [usually a substitute were the trustee remained inactive] would be left explaining why they did not validate the debt, and the Amicus that trustees are debt collectors, starts to make sense.

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

  6. BTW – the next big credit default swap insurance crisis is coming in the name of ‘FEDERALLY GUARANTEED STUDENT LOANS”
    this will be even more profitable for the banks because the Fed set it up so that students cannot be forgiven for the debt – no deed in lieu of foreclosure – its their labor and their blood… nothing else will do!

  7. UKG. .. TU

    The 1st time I heard the word standing from my attorney a few years back…. I asked what the heck is standing and what does it have to do with the fraud, the false accusations and the title?

    I wanted to sue their britches off!
    But that would have cost more than the payoff of my husbands loan.
    Standing on the Sidelines.

    When mortgors under a mortgage become borrowers..
    I Bite Back!

  8. As I recall (only) – the way the dot trustee got its alleged info about a borrower’s default was by accessing the servicer’s database (this was the ‘evidence’ of default). There was no “separation”, no security, of info. An outfit being sub’d in as trustee (read anyone with a pulse) on Tom Brown’s loan had the same access to Carla Smith’s records, including ss numbers and other private info.

  9. Florida is hitting it!
    I like ‘reversed’!

    Can’t wait for mine to be like that; and the disgorgement.

    Trespass Unwanted, Creator, Corporeal, Life

  10. Thanks for re-posting michael keane.

    Trespass Unwanted, Creator, Corporeal, Life

  11. Foreclosure/Standing: judgment of foreclosure in favor of lender reversed when lender failed to prove standing to enforce and foreclose mortgage before the action was filed –Tomlinson and Crump v GMAC, Case No. 2D13-6030 (Fla. 2nd DCA September 2, 2015) (foreclosure judgment reversed)

  12. @ Trespass Unwanted,

    Thank you for your much-needed direction during my time of scurrilous attacks and the noisome discord of the likes of those who are best referenced as that which has become stuck to my shoe.

    Be well and I wish you serenity.

  13. For those playing along: I stick with my original comment, the first one listed, below.

    I also stick with my analysis of “Bob G”. He does smell.

  14. Dear Fake “Bob”,

    I work for myself.

    Also, you flatter yourself to think “hundreds of people” are reading your nonsense.

    I think, instead, hundreds of people are reading that you are an impostor.

    In the past, you have proven unsound in your analysis of derivatives even as “Bob Hurt” has demonstrated he has zero understanding of who it is that was cheated by the MERS by-passing the 1300 or so county recorders.

    Please threaten your hissy fit elsewhere.

  15. http://www.thetrumpet.com/article/5290.4.0.0/economy/

    Taking Profits in a $1.5 Quadrillion Bubble -…

    moneymorning.com/2014/…profits-in-a-1-5-quadrillion-bubbleCached
    Wall Street Bets a Quadrillion of Everybody Else’s…

    Also, read, Ellen Hodgson Brown.

  16. Global Derivatives Market now valued at $1.14 …

    jutiagroup.com/…market-now-valued-at-114-quadrillionCached
    Quadrillion Dohttp://www.silverdoctors.com/marshall-swing-1-5-quadrillion-in…Cached

    llar Derivatives Market 20 Times…

    therealnews.com/t2/index.php?option=com_content&task=…Cached
    Tower of Babel Economy – theTrumpet.com

  17. rense.com/general85/g20.htmCached

    LaRouche then specified: “It’s Wall … – Lyndon…
    larouchepac.com/node/31160Cached

    Coming Derivatives Crisis_150 – American Free…

    http://www.americanfreepress.net/…derivatives_crisis_150.htmlCached
    Marshall Swing: $1.5 Quadrillion in Derivatives

  18. Thanks, T U, never knew that- though it does ‘splain some things, Lucy.

    Anyway,

    Worldwide derivatives market could be over $1.2 quadrillion in notional value

    The Horrific $1.5 QUADRILLION Derivatives Bubble |…

    Global Exposure in Financial Derivatives Surpasses…

    1.5 Quadrillion Dollar Derivatives Bubble at the…

    socioecohistory.wordpress.com/2009/03/30/15…Cached

    Derivatives: The Quadrillion Dollar Financial…

    theeconomiccollapseblog.com/archives/derivatives-the…Cached
    $1.14 Quadrillion In Derivatives— What Goes Up… |…

    When the quadrillion-dollar Ponzi scheme falls on…

    http://www.birchgold.com/economy/quadrillion-dollar-ponzi-schemeCached
    G-20 Must Freeze The $1.5 Quadrillion Derivatives…

    I have a bunch more and I also originally wrote:

    “For those playing along at home:

    “Bob G” is an alias. I suspect his real name is Bob Hurt; the simpleton that has done his best to misdirect people in foreclosure by creating a fraudulent, similarly named site: “LivingLiesTheTruth” to sow confusion… or, failing that, to capitalize on their plight by stalking this site in an effort to glean those among us here that have factual evidence.”.

  19. 1. doesn’t surprise me that your comments are awaiting moderation.
    2. i’m not mathematically challenged. i know what a quadrillion is.
    3. please, just cite your source for the $682 trillion. you’re starting to look like a fool with your inability to address a simple question regarding a statement that you made.
    4. since you don’t know me, how can you speculate as to what my intentions are? you really can’t, now, can u michael?
    5. and are you in foreclosure or are you already a foreclosee? in going with the latter.
    6. are you gainfully employed, or did your mouth, your attitude and your inability to think logically and rationally get you canned from you job, too?

    see how this works, keane? you act like a jerk, you get treated like one in front of hundreds of others.

    this site used to be rather useful, but it has gone downhill a lot in the last couple of years. sad, because there used to be some good posters here, with some good info and advice. not any more…just a bunch of folks with too much time on their hands and an inability to stop typing after a couple of hundred words or so. and it wouldn’t be so bad if they actually had something useful to say…but generally they don’t. just post after post after post about their victimhood and how bad the system/banksters/courts/lawyers, etc., etc. are. we already know all this drivel. tell us something new and useful.

  20. michael keane, if it is your will, please repost the comment.
    moderators will not get around to it.
    If it has two http links in it, that makes it go to moderation.
    Just copy and paste, remove one http link, post it and then post the second http link in the next post.

    That is, if it is your will.

    Trespass Unwanted, Creator, Corporeal, Life

  21. Thanks louise, will do and done.

    Trespass Unwanted, Creator, Corporeal, Life

  22. @ “Bob G.”

    I’m still here with a comment awaiting “moderation”.

    In the meantime, among the hundreds available, you may wish to search “Quadrillion”.

    The ones I listed are in my pending comment.

    For those playing along: “Bob”, I feel, is an impostor and he runs in a pack farming this site for victims of fraudclosure that may have evidence, so he and his pals may capitalize on their plight.

  23. @mkeane

    1. let’s start over and pretend you’re an adult. what is your source for the $682 trillion number? don’t have one? i thought so.

    2. try thinking like a lawyer some time. it works pretty well. looks to me that folks who think like lawyers are kicking folks like you out of your house left and right, while those that lawyer thinkers sleep comfortably and secure at night in theirs. you are being kicked out of your house, aren’t you? or are you already gone?

  24. roger,

    so why are institutional investors suing if they’re being paid by the servicers? the question goes unanswered around here.

    bob

  25. Bob, we know the only remaining certificates are the equity tranches (A1 A2 etc.) and the irregular “z” tranche don’t we? Top tranches held by the sponsor and the servicer parent. One in the same.

  26. Or as the Irish might say, “Fecked for sure… Fecked. Fecked Good and Proper”.

  27. @ Bob G,

    Why would anyone want to think like an attorney?

    I wouldn’t sleep at night thinking about being punched in the face 500 times and then being dragged in front of a firing squad.

  28. TU, better buy gold and silver and bury it in the backyard. If you have anything in a safety deposit box, get it out ASAP. Things are going to get rocky for awhile.

  29. Bob G – please keep thinking like an attorney – i so appreciate the contrast between your mind and that of a man… we need more like you…

    best
    greg

  30. @ greg,

    I like the way you think and presume you are on point.

    I was amused at the reception Barry O’ Malley … got ? Or, was it Barry Obama? …

    Yup. Barry Obama. Anyway, the President of the US of A was welcomed, early on, by the Irish people and some still cling to the notion he isn’t so bad.

    Reminds me of one of my favorite jokes:

    “What’s Irish and stays out all night”?

    “Paddy-O Furniture”.

    Sorry… I love that one.

    Google “Quadrillion”. If the plight of the central bankers and their present INSOLVENT STATE were described by the Irish, they would say something like, “the English, Central Banking Filth are truly fecked… A ‘Quadrillion Dollars’, Aye, they are fecked indeed”.

  31. Disclosure.
    I can NEVER think like a lawyer.
    In my opinion, I will state generically what others have discovered;
    They are UN employees, they expatriated from the people,
    their allegiance lies with another,
    They have a license to do what they otherwise could not do, and by having one represent the name you are called, they do not provide full disclosure of what that truly entails when you sign the agreement with them.

    In my opinion, they have sold their soul when they agreed to trick the Creator within each of us, into acts of necromancy or intercourse with other dead and other entities/creations of man.
    They know these secrets and keep them from the Creator who with conscience and love tries to show compassion and grace and in return is captured in body and warehoused in locked facilities preventing the Creator from fulfilling specific spiritual goals long set before the lawyer created the paper to get the life energy of the Creator to be captured and housed without knowing, willing, or intentional conscience, but held anyway because the consent was expressed and of the free will lacking the full disclosure of what the Creator has agreed to, until it is done.

    That’s my opinion, I will NEVER think like them, and I am glad I am not One of them. The Creator in me is first pure witness to their deeds. Their names are in our book of life, billions of us have experience what they do with paper and the will of the dead against the will of the living.

    Trespass Unwanted, Creator, Corporeal, Life, Free, People, Independent, State, In Jure Proprio (in One’s own Right), Jure Divino (by Divine Right)

  32. Bob G,

    You are a fraud and akin to something I would regret having gotten stuck to the bottom of my shoe.

    In short, you smell.

    Please go play in traffic.

  33. Bob G,
    The CUSIPS include bonds of people who are in prison without being convicted of a crime or in prison under fake claims.
    Investors have pulled back the covers – there is nothing in the assets they are holding – the prospectus probably told them this and they ignored that information and didn’t do research relying on Moody or some other agency to rate them – and as the stock market declines, the payments their funds are to receive will not be sent.

    The credit is drying up.
    I read that that first drop in the market, there were people who wanted to sell some of their assets out of a fund and were put on hold because the fund manager did not know the value of the asset after that first drop, and that was 7 days after the first drop had occurred.

    There is no exit door for these people, and it is predicted that there will be a last push up of the money illusion where people will think recovery and throw what they have into it so they aren’t at the losing end of the deal, and poof, it will all be gone.

    As for CUSIPS, Ferguson, MO had a lot of CUSIPS from the court cases where the lower income population were in debtor’s prison for not being able to pay a fine. These expenses are paid by the government when the judge, prosecutor, and court appointed sign documents to get into certain accounts to pay those expenses. The new ferguson judge dismissed thousands of cases when he took over after the riots.

    There is the ‘texas dirty thirty’ and the ‘texas triangle’
    http://www.theblaze.com/stories/2015/06/04/in-a-few-small-texas-towns-police-are-issuing-so-many-speeding-tickets-a-local-judge-quit-on-principle/

    also see (by searching these strings)

    177-bikers-busted-on-cookie-cutter-probable-cause-affidavits
    and
    Texas-officials-scrutiny-biker-shootout-case.html

    this kind of fraud messes up the validity of those CUSIPS that are traded before any complaint has been placed before a grand jury.

    In case you missed it (this string in a search)
    US-can-only-pay-its-bills-until-March-Treasury-Secretary-Jack-Lew-warns.html

    “Once it loses the ability to borrow, Treasury would pay its bills by relying on incoming revenue and any cash left in public coffers. ”

    treasury-resumes-extraordinary-measures-to-work-around-debt-ceiling-000678

    “Lew plans to implement the first of the extraordinary measures on March 13th. The federal government will stop issuing special purpose bonds that state and local governments can purchase to help finance construction and other projects. ”

    timesunion Lew-informs-Congress-he-extending-debt-limit-6413228.php

    “Since March 16, Lew has been employing a variety of bookkeeping maneuvers such as removing investments from government pension funds to keep from breaching the current debt limit of $18.113 trillion.”

    Anyone remember months ago when drudgereport had the words
    ‘have an exit plan’ and nothing more.

    Well there is no exit door, from the rumors in the net.
    Trades are halted several times a day to keep algos from going crazy, and no one knows the value of any asset, and to cash out a significant amount of money, people have had to make appointments with their broker who can’t promise the sale without a counter party on the other side willing to purchase.

    I don’t know investment things, so my dialogue above may not make sense, and maybe articles looking for certain key words where the value of stocks are unknown or people having to make appointments with investment bankers and brokers may help with the clarity of the discussion.

    Trespass Unwanted, Creator, Corporeal, Life

  34. dc,

    DOJ is paying attention now.
    Individual accountability is new direction.

    You got names? They got the people to investigate and get info as to where those people [names] go the direction to do what they did, and incentive to get the corporation to assist in the investigation but no immunity no matter what position is held.

    And if there truly is no statue of limitation on fraud, a nice unsigned affidavit and a judgement by a man or woman who probably has no docs to show their authority as a public servant may help clear things up a bit by cleaning out the cobwebs weaved by these people.

    http://www.justice.gov/dag/file/769036/download

    If you take the time to read through the words in the image, you’ll see the direction they are taking ‘although it’s about time’, will make a huge difference, but they still need us – we are the witnesses to what individual people do to us that affect our lives while trying to hide behind the corporate structure which can’t think, speak, or do.

    Trespass Unwanted, Creator, Corporeal, Life

  35. @Michael Keane…where are you getting your $682 trillion derivitive number from? Please provide a rock solid source of your information. Thanx.

    Also, once again, if the servicers were making ALL the payments to the investors, then why all the institutional investor lawsuits? Why are the CUSIPS not trading, or are trading for pennies on the dollar? Why are all the subordinate tranches zeroed out on the monthly investor reports?

    Am I the only one who thinks that something is wrong with Neil’s picture? Doesn’t this seem odd to anyone else here?

    Folks…please try and think like LAWYERS here.

  36. the Pope is coming to tell a joint session of congress that he is enforcing the treaty of 1166 between King John of England and the Vatican (Bank)…

    he will tell them that the 1783 treaty of Paris between King George and the Colonies is Void because it was in contradiction to the previous standing treaties between England and the Vatican…. and that the Vatican owns the USA…

    he will tell the federal reserve private owners to go to hell, and take all their credits upon the Vatican Bank… and complete the coup that was begun over 500 years ago…

    or not?

  37. That should be easy enough as it is all public record yet after going through these exact same things Ive come to realize more than the banks its the the people making money from others pain is why it continues,The Lawyers,The Realtors,The Entire Real Estate Industry is crooked,corrupt and hideous.

    I was a “premiere client” at Wells Fargo for 14 years when after getting no love from the online folks I went to my local branch only to hear in in house broker look this long time premiere client with past loans paid in full and on time , in the eyes and give me a very strange “NO” to renegotiating the terms of my 6%,interest only refi of my principle residence that my broker who had done every loan I had [about 15-20] heavily solicited to me and assured me that a refi 12 months from then would be a breeze.
    I was buying and selling homes in my area in So Cal and thus the loans,and sent about 25 of my friends to her for their loans,had been banking at WF since they merged or took over First Interstate,and things were better for me then they were for them I thought they were going under many times but thanks to their loyal customers such as myself and of course their lying,cheating,stealing way they came out pretty good,as a matter of fact what I get from my research is that WF basically owns and runs the securities end of the mortgage biz on Wall Street.
    They are the “Securities Administrators” along with two or three others and when you think about it they have this game hemmed up so tight its sick,it will,would, take huge numbers of crazies such as myself taking to the streets to rattle their cages.
    The cities,counties,states have zero incentive to help disgruntled homeowners/borrowers when where Im at they see the dollars flooding in directly into their pockets,pensions etc,etc,The big banks have gifted the judges and all the states workers trillions of $ worth of MBS and real estate and the page after page of fannie and freddy and god fucking darn I will prob die laughing when they realize their all bullshit,or they cant pay all those millions upon millions of them,such and such securities trust 509-12su-BS.
    My judge in Santa Monica CA who dismissed my case that my lawyer moved to her court and lied to me about it in several e mails who now has the “One of them”status,and was accused in 2009 of running a deed scam type fraud with another judge and the head of the bev hills bar,also awarded the attorney for the escrow co,20k in fees based on the owners sworn affidavit that she witnessed me sign and its not even signed but they dont need proof any longer,since the new law that all records must be destroyed after 7 years,that is exactly what was said.

    So when I sent my QWR and got copies of the closing docs that prob never existed until they got that since I left my brokers office with the original loan packet in full and they didn care,so when it said on the HUD-1 that WF had paid off my 2nd with Chase for 134k and I said thats a lie look I have the cancelled checks,and statement showing a zero balance 2 months prior to the refi,the judge could care less and the bank needs no proof,the judge says it must have been paid twice and maybe I can get a refund from Chase.
    I guess I dont need to go into the whole mod attempt deal or the fabricated docs from WF lawyers or the lies and threats oh the 750 credit to 500 and yes I can relate but since they never paid that they must be screwing their investors with those fabricated figures and thes are all here and there and its not a joke I keep everything,my docs and the entire thing from start to finish I want to put together and publish or put it in the times or I dont know but all the deceptive,misleading communication from WF and the 17 single points of contact,the rquest for the documents at least 45 times,and the zero help from the CFPB,OCC,FDIC,DOJ,and when I got my case file after kicking my first thieving lawyer to the curb the banks lawyers have every single complaint to anyone,so I guess they think I am nuts,oh well after paying into this 250k in interest only my balance now 150k more than originally and 5 lawyers later Ive got two months to make a move or lose my house and the equity.Sell or appeal?or keep paying lawyers who do nada and get paid for it.In the part of town Im in thats the norm,banks,escrow companies,title companies and lawyer do not have to show the consumer any form of accounting,none and you can file 500 complaints and you get nothing its unbelievable,they are all in on it and its us they want to take it from we the consumers[are new title,no longer humans just consumers].

  38. The investment banker is similar to the security guard of a bank vault who is charged to protect the assets in the bank vault and all he knows of the assets is the papers he signed that they exist and was put in the vault he’s protecting from theft or robbery of the contents therein.

    One day someone will come to get the asset and the vault door will open and it will be discovered the vault is empty.

    While everyone tries to figure out if the security guard did it, or if someone got past the security guard without his knowledge, no one will figure out for a long time that the day the assets were put into the vault, the security guard signed papers.

    The papers created the existence of the assets behind the vault door, and it’s not until observed that anyone knows the assets never existed.

    That day will soon come, because as much as the assets depreciate on paper, someone is going to eventually inventory what is left and how to package it together for value and there is nothing like finding there is nothing to package together and their accounting was a lie from the day they managed the assets in digits in their systems.

    Can we say ‘wipe-out’?

    If you go look and there is nothing, how can the accounting still show something? It can’t.
    That’s when all the people will be laid off and offices shuttered and people owed retirement are told there is no funds.

    That won’t be easy to explain to someone who has watched digits in their account rise and fall and then suddenly be told the account has nothing.

    Thank the judges and lawyers for opening that pandora’s box.
    They were used royally.
    The plan was so elaborate, that they were part of the plan to help strip everyone of everything leaving nothing.
    Who’s untouchable after all of this?

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

  39. The fraudulent banking system has to collapse and soon. Servicers are just thieves, and they do not have the documents to prove they own any notes. Foreclosures are frequently using the Trust’s name as plaintiff–however the Trusts do not have the documentation either to prove what they own. What we all needed in these lawsuits was discovery, and that is sorely lacking.

  40. The banks are interested in collecting on 682 TRILLION DOLLARS that are currently described as the bounty owed to “Notional Derivatives”.

    Since 2006, the banks are refusing to disclose the accounting that is described as “M3”.

    The reason this is so is because they are hopelessly INSOLVENT!

    682 TRILLION DOLLARS IS AN UNSUSTAINABLE AMOUNT AND IT REPRESENTS 10 TIMES THE GDP OF EVERY COUNTRY ON THE PLANET.

    This is not about the banks re-selling properties listed as in “default (never mind that those listed defaults are also the product of FRAUD and Fantasy). Instead, this is about trying to fend off the notion that We The People have been duped and misled by our own government for the past 100 plus years.

    End the Fed. Return it as a PUBLIC UTILITY that enriches Public Coffers- NOT PRIVATE POCKETS.

    FORCE ANY AND ALL POTENTIAL REPRESENTATIVES OF WE THE PEOPLE TO RENOUNCE THE CURRENT CENTRAL BANKING SYSTEM- IT IS A FRAUD.

    THEN RENOUNCE THE BANKERS AND REPUDIATE THEIR BOGUS CLAIMS OF AMERICAN INDEBTED-NESS!
    END THE CORPORATOCRACY!

    INVESTIGATE, PROSECUTE AND JAIL WALL STREET!

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