Banks Want The Foreclosure Sale, Not the Property, Not Even the Money

For more information please call 954-495-9867 or 520-405-1688

This is not a legal opinion on any case. It is general information

==========================

see http://www.mlive.com/news/ann-arbor/index.ssf/2015/12/too_big_to_care_deteriorating.html

Dick Durbin told it like it is when he said “the banks own the place.” The place was Congress and all the legislatures across the country. If they didn’t then there would have been a tobacco like suit for the disastrous consequences of the banks lies and damage to entire states, cities and towns. And instead of a few billion dollars, the damages are obviously in the trillions of dollars.

No where is that more obvious when the Bank, in this case Citi, turns down a modification that would enable the real party whose money was used to recover multiples of what they are being given now. The bank gets the foreclosure sale, having turned away from a monetary solution that would enable both sides to preserve some of their capital. Instead the borrowers and the investors (pension funds etc) both get wiped out.

But the injury doesn’t stop there. After the foreclosure the bank walks away from the property and let’s it collapse, be sold for tax liens, or demolished because ti is hazardous or because drug dealers have taken up residence in whole communities that have been abandoned.

So let’s review the bidding here. The bank doesn’t want the money, doesn’t want the property but still says it has a right to foreclosure and causes a foreclosure sale. The conclusion is now obvious to everyone — Citi wants the sale more than it wants the money back from the loan, and Citi has no interest in the property either.

In this way thousands of communities have been severely depressed, financially injured and left without the tax base they relied upon when they attempted to improve and expand infrastructure for houses that would eventually be empty because the owners were forced out, and then abandoned because Citi had no interest in the house — only the foreclosure sale.

Cities, Counties and States have a very similar cause of action as they had with the tobacco companies — and that settlement was over $250 Billion. Just how did the banks think they would get away with stealing trillions of dollars and settling for a fraction of one percent of what they stole? The answer is arrogance that comes from decades of getting away with things they never would have tried when brokerage companies were partnerships and not corporations. Now   when executives of mega banks perform illegal ac ts, they are virtually immune — which is why Eric Holder said to sue the individuals on behalf of homeowners, sue them on behalf of government authorities and extract judgments or payments that they have parked off-shore.

=======================

The vacant, foreclosed home that once stood at 210 S. Mansfield St. in Ypsilanti Township seemed to defy physics in not collapsing on itself.

For several years, two walls leaned inward while another canted out. Its subflooring and floor joists were gone. Its roof twisted and sagged while its foundation crumbled.

But equally alarming is what building officials investigating the wobbly home in 2014 discovered inside. Multiple memos written by property maintenance companies hired by its owner, CitiMortgage, clearly documented the decay.

The paperwork was hard evidence that Citi knew of the home’s precarious state, but did nothing.

Township building officials say Citi, which foreclosed on a family of three at the address in early 2012, made a deliberate business decision to ignore the property because it’s cheaper than renovating and selling the home. In doing so, Citi tried to stick neighbors and the township with a blighted, abandoned property and its cleanup bill.

91 Responses

  1. The link in my previous post is correct but must being blocked UNLAWFULLY by the WAFFEN S.S./FSB up on WALL STREET who have no LEGAL JURISDICTION to do that.

  2. AMERICA’S DARK PROGRAM: MILITARISM

    http://www.veteranstoday.com/2013/09/270425/

  3. Moreover, evidence suggests the main objective of the intended FINANCIAL CRISIS is by the UNLAWFUL PROCUREMENT OF DRUGS WALL STREET would HOLOCAUST CATHOLICS by SRA for the FEDERAL SERVICE BUREAU (FSB).

  4. The link i posted in my previous comment states:

    In the United States, the FBI is in charge of PROCURING VICTIMS for the ILLUMIMATI HUMAN SACRIFICE.

    That is the epitome of FRAUD IN THE FACTUM in every U.S. COURTROOM.

    My father was in the FBI DRUG ENFORCEMENT DIVISION therefore, my disgust with him & that entire ORGANIZATION for terrorizing me unlawfully for defending my TITLES PRO SE is justified to say the least.

    They & others have been trying to destroy the evidence of my outstanding PRO SE LEGAL DEFENSE WORK IN COOK COUNTY, ILLINOIS CHANCERY COURT on the 28th floor of the DALEY CENTER COURTHOUSE for over 2 years now.

  5. Furthermore, maybe the FBI should come out & explain what is said here regarding ILLICIT ACTIVITY by them:

    13 ILLUMINATI BLOODLINES:

    http://www.illuminatirex.com/illuminati-bloodlines/

    In fact, I hold the FBI & the GSE’s who they obviously protect for the VIOLATION OF MY LEGAL RIGHTS through the ILLINOIS STATES ATTORNEYS OFFICE for over 5 years now for forcing me to defend my TITLES PRO SE in the 2 FRAUDCLOSURES they brought upon me UNLAWFULLY on behalf of the LUCIFERIAN OBAMA ADMINISTRATION IMHO.

  6. There is solid & substantial evidence they worship the devil Hammertime.

    9-11 for example was RITUAL HUMAN SACRIFICE & so is FRAUDCLOSURE.

    What was UNAWFULLY PLEDGED regarding those UNCERTIFICATED CERTIFICATES they won’t reveal?

    Being CATHOLIC I know the devil is real in the world & warring with us.

    The pastor of OBAMAS CHURCH said GD AMERICA.

    What PASTOR would damn the country he lives in?

  7. Lvent those last 2 posts make alot of sense. The manipulation is taking another turn. Chase is dumping their loans on their partners in crime like PennyMac. So last week by chance I pick up paper version of LA Times and front page there’s an article how PennyMac is an alternative lender on personal credit /credit card. The focus is that PennyMac is evading law because IT is not an actual lender! There the deception is complete again Chase good others bad just like they did w sub prime, WaMu etc. If we focus we can destroy this deception esp if we can get Bernie Sanders to break up these criminal enterprises. But if u go into Satan, Obama and everything under the sun u hurt more than help.

  8. The words PERFECT DEFAULT CORRELATION is the only evidence needed to convict WALL STREET CRIMINALS because no one was given the STATISTICS on the FAILURE RATIO of CONTRIVANCE.

  9. They’re not even banks, they’re FRAUD BROKERING their own ILLICIT TRADES & massaging their own egos when they pretend to own things that have value.

    They’re not lending nothing of value proven by the fact what they’re manipulating is never revealed.

    They were BAILED OUT unlawfully becsuse no one knows what they were bailing out.

    If it was lost fortunes of IN HOUSE STOCK TRADERS trading their own misfortunes than they should have gone to prison for using the U.S. TREASURY DEPARTMENT for collateral in illicit sales.

    However, what they were trading was never revealed, & that’s what makes them CRIMINALS because the true motive of the contrived sales was never revealed to the public in written form with receipts & proper TAX DOCUMENTATION.

    If we were missing $60+ TRILLION DOLLARS & could not prove the money ever existed they would say the money was stolen.

    Therefore, the BAILOUT MONEY was stolen from the U.S. TREASURY DEPARTMENT, & innumerable properties were taken unlawfully by these UNREGISTERED, UNLICENCED & UNKNOWN STOCK TRADING MANIPULATORS with no CERTIFICATES to do the trades because the BONDS were FICTITIOUS.

  10. WALL STREET EXECS want to turn their illegitimate stock & bond re-issues into TRANSVESTITE HOOKERS who forge their fake documents to get free boob jobs under the HEALTHCARE SCOFFLAW.

    Then by RECORDATION FRAUD, they won’t gst the boob job they’ve been forging for, they will be re-married to it under the REMARRIAGE RE MACINO ruling.

    Then they get the exaggeraion of the truth they’ve been trying to legalize since the GM BAILOUTS.

  11. So what was PLEDGED in those MONOLINE TAX EXEMPT REIT FUNDS AGREEMENTS between unknown parties behind our backs who could be FOREIGN ESPIONAGE AGENTS from GLASGOW, MOSCOW or THE BANK OF LEUMI?

    That’s what the SPY RING of FEDERAL EXECUTIVES from WALL STREETS FRONT OFFICES won’t reveal & that is AN ACT OF WAR upon the U.S. SOVEREGN CITIZENRY.

    They file FRAUD SUITS upon us, unwarranted, with no PROPER LEGAL DOCUMENTATION & expect us to combat their ARSENAL OF FRAUD without proper LEGAL REPRESENTATION while they AIM their unending WEAPONS OF MASS DESTRUCTION upon our LEGAL RIGHTS & that is how WAR CRIMINALS operate by UNFAIR SURPRISE.

    They take LIBERTIES UNLAWFULLY by not revealing their TRUE IDENTITY.

    The IBM GM could be disguised like the mailmam if his pension money is invested in IBM HIGH FREQUENCY TRADES & they have bought shares in MERS FRAUDULENT TITLE TRANSFERS.

    That’s why PRIVITIZATION of PUBLIC PROPERTY that we paid for is AN ACT OF WAR too, because you don’t know who their employees really work for.

  12. Where’s the receipts for the MONEY MARKET TICKER PAPER that’s strewn on the floor of your office JACK? Said the FOREIGN EXCHANGE RATE TRADER to his counterparty.

    Filed with the company cryptograph under CHAPTER 154 of the LAWS OF 1913.

    We can profer to build things that don’t exist by proferring we build things that don’t exist.

    That’s called CREDIT BROKERING the mainstay.

    Oh look Jack, I think MUSTANG SALLY got out of its stable.

    To heck with that, how bout we talk some dirty derivatives trading & how that effects COMPARTMENTAL TRADES in our back offices?

    You mean MONOLINE TRADES JACK?

    Right, & how sexy TARP was because that was our best CREDIT BROKERING TRADE ever.

    Essentially we FREE TRADED ourselves out of our own FREE MARKET TRADES & REPURCHASED them under FAKE INDENTURE CLAUSES.

    Magnifique, & we chained HANK to his desk in GOLDMAN permanently by bonding him out.

    That’s just how TED would have wanted it because SS is really SELECTIVE INSECURITY.

  13. It’s like the LAND OF THE LOST in the freeist nation on earth.

    Lost legal docs, lost PAY OUT SHEETS by WALL STREET business firms DBA non entities, UNREGISTERED & UNLICENSED to divy up EXCHANGE RATE TRADES & call them LEGA RIGHTS.

    STANDING is remarkable for the DIRECTORATE of the SALES of SECURITIED CONTRACT AGREEMENTS. However, the TREASURY AGENT is UNAVAILABLE for TESTIMONY because his dog must have swallowed the NOTORIAL CERTIFICATE that was never signed by us.

    Boofrickety hoo for the OBAMA ADMINISTRATION who couldn’t organize the BAR MITVAH for the blind horse they thought could see.

  14. Friday 18 December 2015

    Colin:

    The reference to the Bob G comment you requested was this one:

    thanx for the standing link. it raises an interesting possibility, because there must be an injury-in-fact caused by the defendant in order for the plaintiff to have standing to sue. in the context of a foreclosure action, if the plaintiff bought a note already in default, who caused the plaintiff’s injury? If i defaulted on the note prior to the plaintiff’s purchase of the note, did i cause the injury or did the plaintiff knowing full well that the note was already in default when he bought it, cause himself the injury?

    Taking it a step further, one could argue that the original creditor who was holding the note when i defaulted would have a cause of action against me, not the purchaser. For example, if the lender lent me $100,000 and i defaulted on that amount, and the lender thereafter sold the note for $60,000, it could be argued that i caused the lender a $40,000 loss, and that the original lender would have a cause of action against me for that amount, not the purchaser. Kinda like an intentionally self-inflicted gunshot wound. You can’t really sue Smith & Wesson for your damage, because Smith & Wesson didn’t cause it.

    Might be a good case for a law school class.

  15. Judges also want banks to steals homes quickly because they cash illegal kickbacks from each foreclosed home according to a recently retired Judge Dale in his book linked here:

    THE GREAT AMERICAN ADVENTURE
    SECRETS OF AMERICA
    [Political history of government and law]
    By: Judge Dale, retired

    https://anticorruptionsociety.files.wordpress.com/2013/04/the-great-american-adventure-complete-work-by-judge-dale.pdf

    @ For the People below:

    Thanks for your linked Texas Jurisdiction case which is also discussed by judge Dale above. He explains similar issues.

    Search words like FORECLOSURE or JURISDICTION in the book to quickly find what you want.

  16. DELINIATION of EVIDENCE to FRAUDULENTLY CONCEAL the PLAINTIFF is engaging in ACTS OF RICO by UTTERING FRAUDUENT CONCEALEMENT into evidence to engage in BANK FRAUD to GAIN UNJST ENRICHMENT by TITLE FRAUD.

  17. That is the real meaning of no LEGAL ASSIGNMENT – DRUG RACKETEERING UNAWFULLY by WALLSTREET EXECS by IDENTITY THEFT.

    The SECURITIES FRAUD means the WALL STREET hoodlums think DRUG RACKETEERING with our U.S. BIRTH CERTIFICATES gives the PRINCE HALL FREEMASONS control over our LEGAL RIGHTS.

    They’re WAR CRIMINALS & the
    SECURITIES FRAUD is one vast WALL STREET COVERUP for the FREEMASONIC CONSPIRACY to UNLAWFULLY control the LEGAL RIGHTS of WE THE PEOPLE.

  18. Moreover, I never signed no contract with the most CRIMINAL & RACIST organization in the world, the PRINCE HALL FREEMASONS.

    However, if you want to believe the big lie that WALL STREET DRUG RACKETEERING with your U.S. BIRTH CERTIFICATE is just reckless & not necessarily criminal than you’re with the terrorists.

  19. The OBAMA PRINCE HALL FREEMASONIC CABAL ADMINISTRATION is one vast CYCLOSPORIN GERM on the face of humanity.

    The FREEMASONS want RESOCIALIZED COMMUNIST T4 HITLERCARE because they want everyone drugged under FALSE PRETENSES to force suicide because of theIr DIRECT ENERGY WEAPONS WAR CRIMES.

  20. — TONIGHT —
    A gentle reminder – please make an appointment for yourself to join us for Episode [12] of “The Gallant Goose & Friends” on TalkShoe #139335 with your host, greg; TONIGHT, Thursday evening at 6:45 PM Eastern.

    Since Neil posted that he is skipping his weekly Thursday Night LIVING LIES – FORECLOSURE DEFENSE & ATTACK call until Jan 7, 2016, we’ll just talk about current events and news and your own Foreclosure Defense experience…

    IMPORTANT NOTE: Because Dec 24th and Dec 31st fall on Thursday, we will be “bumping” our call over to Wednesday for the next two weeks (Dec 23 & Dec 30)

    Details follow:

    1) Neil’s Living Lies Call at 6:00PM Eastern (347) 850-1260… on Blogtalk Radio (resumes 1/7/2016)

    2) Our interactive self-help Q&A call, “The Gallant Goose & Friends” on TalkShoe – begins every Thursday night at 6:45PM Eastern, 15 minutes after the conclusion of Neil’s show (except as noted above)

    Call in at (724) 444-7444 (then use Call ID: 139335) then “1#” for guest
    and/or use your computer to blog/type at http://www.talkshoe.com/tc/139335 6:45 PM Eastern Thursdays (for 60+ min)

    [Our Calls and Chat Board are recorded for review and sharing…]

    Please use the phone line TO SPEAK; ASK QUESTIONS AND CONTRIBUTE…
    Note that computer access will ONLY allow you to hear and type into the blog (Not Speak)…

    all are welcome!

    if you; or one of your friends; would like to be added and receive email reminders of the call…please email the host at: [lawman@gmx.us] with the subject line: “please add me to the goose!”

    If you would like to be REMOVED from the group…please email the host at: [lawman@gmx.us] with the subject line: “please pluck my goose”

    thank you.

  21. djabelanger, on December 17, 2015 at 10:00 am said:
    Lender- A person or organization that makes a loan.

    WELL WELL… A word is just a word… and “Lender” can be a function or a PRONOUN…

    Imagine i loan you 100 bucks to buy a new toaster – i am then functioning as a “Lender”

    Now imagine we are actors in a play and i pretend to give you a hundred bucks in front of the audience, as part of the script… the money we used was actually provided by the prop manager. For the purpose of the play (the contract) i “appear” as a “Lender”… but upon conclusion of the play, i have no right to demand a hundred bucks back from you…even though there were 5,000 witnesses!

    Now what if we never told anyone it was a play and they all thought it was real? i could sue you and win because you would be the only who realized it was a canard!

    The word “Lender” in these mortgage contracts is a PRONOUN for a party who in fact is a commissioned middle deal negotiator and was never a “Lender” in function.

  22. @ ForThePeople

    Great link, with a lot to digest.

  23. …which leads back to a recent LL post during the past week on forensic accounting and expert witness declaration(s) / affidavit(s).

    Case open.

  24. …and it is the converse: case open.

  25. @ djabelanger

    Your reference to step one, in a word: consummation.

    Without out a consummation of CONSIDERATION (monies lent), there was no loan, therefore no valid contract.

  26. IT ALL STARTS FROM THE BEGINNING. PEOPLE.

    STEP BY STEP. CANT GO FROM STEP ONE TO STEP TWO UNTIL STEP ONE PROVES IT GAVE ANY MONEY. IF NOT. THEN ALL OTHER STEPS ARE POINTLESS. AND WORTH NOTHING.

  27. Lender
    A person or organization that makes a loan.

    That is, ( a lender gives money to a borrower ) SEE THE WORDING,
    A LENDER THAT GIVES MONEY,. SO IF YOUR FAKE LENDER ON YOUR MORTGAGE / AND NOTE IS NAMED LENDER. THEN LETS SEE THE PAPER TRAIL. LETS SEE THE ACCOUNT THE MONEY CAME FROM THIS LENDERS ACCOUNT BOOKS.

    IF THERE IS NO PROOF THAT THE MONEY CAME FROM THIS FAKE LENDER ON PAPER, THEN THEY ARE NOTE THE LENDER AND CREDITOR THAT WAS SUPPOSTED TO FURNISH YOU WITH ALL TILA/RESPA FORMS.

    SO THE LOAN IS NOT CONSUMMATED. EVEN IF YOU HAVE A 10 YR OLD LOAN OR NOT. DOESNT MATTER HOW LONG.

    with the expectation of repayment in a timely manner, almost always with interest.

  28. If the link is broke, google it.

  29. I’m going to repost that link:

    http://www.whale.to/b/sp/app1.htm

  30. True other Americans have betrayed other Americans & the SPY RING is to blame because they control their own fraud.

    Nothing like the criminal underworld policing their own FOREIGN ESPIONAGE so they can criminally undermine their own TITLE FRAUD & try to steal everything from us.

  31. OBAMA’S pension is invested in VANGUARD:

    http://en.wikipedia.org/wiki/The_Vanguard_Group

  32. U better believe obumas entire administration is behind this and that is why the fraudulent activity continues to this day. Our fellow Americans have sold out fellow Americans. It’s every man for himself. Wake up or be screwed

  33. In fact, because OBAMA was SENATOR in the STATE OF ILLINOIS & is PRESIDENT of the CORP OF FRAUD, I’m sure his INVESTMENT PORTFOLIO is behind the CRIMINAL HARASSMENT upon my LEGAL RIGHTS.

    http://www.commieblaster.com

  34. I never signed no contract with the ILLINOIS STATES ATTORNEY but that office thinks it has the right to UNLAWFULLY HARASS me.

  35. There is no PROSPECTUS or PSA because the SECURITIES never existed.

    NON-DISCLOSURE of the structuring of the FRAUD, PERFECT DEFAULT CORRELATION by the RPII, whose identity was FRAUDULENTLY CONCEALED is DERILICTION OF DUTY by the POLITICIANS.

  36. Furthermore, they’re pleading injury with no just cause to do so.

    What was pledged was HUMAN SACRIFICE because FRAUDCLOSURE is SATANIC RITUAL ABUSE(SRA) evidenced by NON-DISCLOSURE of the RPII.

    They can’t produce the PROOF OF LOSS STATEMENT because PARTIAL GRANT DEEDS convey nothing but that’s PROOF OF FRAUDULENT CONCEALMENT by WALL STREET EXECS.

    In ILLINOIS FRAUDCLOSURE is FALSE IMPRISONMENT by the ILLINOIS STATES ATTORNEY’S OFFICE by NON-DISCLOSURE of their INVESTMENTS in DERIVATIVES FRAUD.

    The STATE OF ILLINOIS should not be bringing cases v the citizenry because they’re operating unlawfully.

  37. you all should read all your prospectus/ and supplement as of the trust/psa.

    it should say , everything must go through the dtcc/ dtc/ so hum that means they ran all the mortgage go through them. as we all know/ the treasury/ and federal reserve.

    time to send qwr to dtcc/dtc/crearsteam/abs , see they are still selling it, but over sea.

    EuroABS GMACM Mortgage Loan Trust 2006-J1
    http://www.euroabs.com/IssueViewer.aspx?issueid=18927
    GMACM Mortgage Loan Trust 2006-J1. Data and documents available for this issue: Issue and Tranche data. Prospectus in PDF format. Prospectus in HTML …

  38. 2013-11-19 NCUA Agreement Exhibits (executed).pdf

  39. Moreover, PLEDGING things you don’t own is HUMAN TRAFFICKING by TITLE FRAUD & it’s CRIMINAL.

  40. PERFECT DEFAULT CORRELATION is why the SECURITIES do not exist because it is PROOF OF INTENT TO HARM by WALL STREET EXECS & their LAWYERS who defend their CRIMES.

  41. Securities

    Reserve Banks accept a wide range of securities as collateral. General acceptance criteria for securities can be found below, followed by a detailed list of eligible security types, valuation information, and pledging instructions.

    Acceptance Criteria for Securities

    1) A pledging institution must have rights in the securities that are sufficient to grant an enforceable security interest to the Reserve Bank. The Reserve Bank must be able to obtain a perfected, first priority security interest in the securities, free of the adverse claims of third parties, including the claims of an insolvency official or an affiliate of the pledging institution.

    2) Securities should not be subject to any regulatory or other constraint(s) that impair their liquidation.

    3) Securities may not be obligations of the pledging institution or an affiliate of the pledging institution, or otherwise correlated with the financial condition of the pledging institution.

    1 Certain pledging institutions may also be required to pledge collateral to mitigate the risk of their use of certain services or non‐wire activity in their account. For more information on the use of collateral under the Payments

    System Risk (PSR) policy, refer to the “Guide to the Federal Reserve’s Payment System Risk Policy on Intraday Credit”.

    2

    4) In general, securities must meet the regulatory definition of “investment grade” at a minimum, and in some cases must be of “AAA” rating quality (where indicated). If a security has more than one credit rating assigned, the most conservative (lowest) rating will be utilized.

    5) Intermediated securities must be pledged to the local Reserve Bank’s account at DTC, Euroclear, or Clearstream or the pledging institution’s restricted securities account at the Fedwire Securities Service (FSS). Certificated securities must be held at a custodian approved by the Reserve Bank or at the Reserve Bank.

    6) Securities denominated in certain foreign currencies are acceptable. Eligible foreign currencies are:

    Japanese Yen, Euro, Australian Dollars, Canadian Dollars, British Pounds, Danish Krone, Swiss Francs, and Swedish Krona.

    Asset Eligibility Table

    Asset Type Limitations on Eligibility Additional Information

    U.S. Treasury and Fully‐Guaranteed Agency Securities (Bills, Notes,

    Bonds, Floating Rate Notes, Inflation‐Indexed and STRIP’s)

    Pledged through FSS (and DTC on a limited basis)

    Government Sponsored Enterprise

    (GSE) Securities (Bills, Notes, Bonds,

    Zero Coupons)

    Pledged through FSS (and DTC on a limited basis)

    Foreign Government Guaranteed Securities and Brady Bonds

    Pledged through Clearstream,

    Euroclear or DTC

    Includes securities backed by guarantees of export credit agencies

    Foreign Government Agencies Foreign denominated securities must be AAA‐rated

    Pledged through Clearstream or Euroclear

    Includes securities backed by guarantees of export credit agencies

    Supranationals (Bills, Notes, Bonds and Zero Coupons)

    Foreign denominated securities must be AAA‐rated

    Zero coupon securities must be U.S.

    dollar denominated

    Pledged through FSS and DTC

    Corporate Bonds Foreign denominated securities must be AAA‐rated

    Excludes convertible bonds

    Excludes structured notes for which the principal balance is structured as a derivative

    Pledged through DTC, Euroclear or Clearstream

    German Jumbo Pfandbriefe Securities must be AAA‐rated Pledged through Clearstream or

    Euroclear

    Municipal Bonds Foreign denominated securities must be AAA‐rated

    Unrated securities may be acceptable; contact your Reserve Bank for additional information

    Pledged through DTC

    3

    Asset Backed Securities (ABS) Foreign denominated securities are not eligible

    Pledged through DTC

    Collateralized Debt Obligations (CDO’s)

    Securities must be AAA‐rated

    Foreign denominated securities are not eligible

    Pledged through DTC

    Commercial Mortgage‐Backed Securities (CMBS)

    Securities must be AAA‐rated

    Foreign denominated securities are not eligible

    Pledged through DTC

    Agency‐Backed Mortgage Securities

    (Pass‐Through’s and Collateralized

    Mortgage Obligations)

    Excludes interest‐only, principal‐only, Z, inverse floater, and residual tranches

    Pledged through FSS (and DTC on a limited basis)

    Private Label Collateralized Mortgage Obligations (PLCMO’s)

    Excludes interest‐only, principal‐only, Z, inverse floater, and residual tranches

    Securities must be AAA‐rated

    Foreign denominated securities are not eligible

    Pledged through DTC

    Trust Preferred Securities (TPS) Excludes TPS with deferred dividend payments

    Foreign denominated securities are not eligible

    Pledged through DTC

    Certificates of Deposit (CD’s),

    Bankers’ Acceptances, Commercial

    Paper, Asset‐Backed Commercial

    Paper (ABCP)

    Unrated CD’s may be acceptable; contact your Reserve Bank for additional information

    Foreign denominated securities are not eligible

    Short‐term ratings must be investment grade

    Pledged through DTC

  42. the Federal Reserve raises key interest rate by a quarter point for the first time in 7 years.
    hang on to your briches.

    Federal Reserve Collateral Guidelines
    Last Update: 6/3/2015

    Third‐Party Custodian Arrangements Hours of Operation:

    Pledge: Local Reserve Bank business hours Withdrawal: Local Reserve Bank business hours

    General Processing Time:

    Pledge: Within one business day after receipt of the cover letter and schedule of collateral (only if an arrangement has been approved by the local Reserve Bank)

    Withdrawal: Within one business day after receipt of the withdrawal request

    Revaluation: Within one business day after receipt of the cover letter and schedule of collateral

    A pledging institution may designate a third party custodian to provide custody services for loans pledged to a Reserve Bank. Third party custody arrangements involve a pledging institution (borrower), another institution that holds the loans being pledged (custodian) and the Reserve Bank (lender). A third‐party custodian can be affiliated with a pledging institution but must be approved by the Reserve Bank prior to any pledge of loans. In all cases, the third‐party custodian must be in sound financial condition and have acceptable custody controls for the loans in its possession. An institution must contact its local Reserve Bank to request this type of pledging arrangement and receive instructions. The custodian and the institution will be required to complete an additional agreement found in Appendix 5 of Operating Circular 10.

    Loan collateral held by a third‐party custodian will be subject to many of the same review requirements as loans pledged under a BIC arrangement. In addition to the custodian maintaining appropriate document

    https://www.frbdiscountwindow.org/en/Pages/Collateral/Automated-Loan-Deposit.aspx

  43. Lms point below that mods legitimize transaction and waive rights possibly like foreclosure does unless defended against. Though other damages could be raised or even fc reversed after the fact.

  44. Lms if it’s part of the chain of title you may imo. Would be interesting to see if they have language that waives ur rights as Greg and reports warned on TILA. That’s one of the main points of this post that foreclosure only serves to legitimize the “transaction” and fraud. They’ve already reneged on court ordered mod on top of that. Was that ever challenged and is this response? If tgey made u a worse offer after reneging sounds predatory to me. If u have evidence to ur claims seems tgey may not even show on TILA rescission.

  45. Hammertime or anyone. Am I giving away any rights or recourse on the old loan (already kno it probably never existed) if I sign the new loan modification
    I am really in a dilemma. Please help. I don’t really want to sign it.

  46. Wednesday 16 December 2015

    Excellent observation/point, Bob G. Worth throwing up as yet another
    roadblock for a lender that waived its 20 day time response period for
    rescission when filing a federal case for enforcing rescission against the
    purported lender…cannot claim any injury. Seems so simple…

  47. http://www.burrconsumerfinancelitigationblog.com/category/cfpb/

    TRID: New Requirements for Real Estate Closing Disclosures Are Here, Will There be A Grace Period?
    October 5, 2015 by Nick Agnello

    It’s finally here. Over the weekend, the Consumer Financial Protection Bureau’s (CFPB) long awaited and oft delayed integration of the disclosures required by the Federal Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) known as the TILA-RESPA Integrated Disclosure or “TRID” for short, became effective. TRID applies to most closed-end consumer credit transactions secured by real property. Specifically, TRID applies to those who did not close on their loans, or who applied for a loan, on or after Saturday October 3, 2015. For those covered, TRID means saying good-bye to the Truth in Lending Disclosure Statement, Good Faith Estimate, and HUD-1 Settlement Statement and saying hello to the “Loan Estimate” and “Closing Disclosure.”

    As the name implies, the Loan Estimate combines elements of the Truth In Lending Act Disclosure Statement and Good Faith Estimate into a consolidated estimate of the anticipated life of loan costs of financing a real estate purchase. The Loan Estimate is required within three days of receipt of the loan application and no less than seven days before consummation of the loan. Similarly the Closing Disclosure combines elements of the Truth in Lending Act Disclosure Statement and the HUD-1 Settlement Statement. The Closing Disclosure is required at least three days prior to consummation of the loan and cannot be delivered on the same day as the Loan Estimate. Because there are no exceptions to this three day rule, minor changes which could have been made at the closing table now require new disclosures and a new three day waiting period. The tolerances for the Loan Estimate are extremely limited (in some cases a zero tolerance) and amounts in excess of the disclosed amounts which exceed the tolerances must be refunded to the consumer within sixty calendar days.

    An October 1, 2015, the CFPB sent a letter to the industry, in which CFPB Director Richard Cordray made it clear that the CFPB is poised to identify and punish those who fall behind complying with the new rule. Specifically, the letter stated:

    “During initial examinations for compliance with the rule, the agencies’ examiners will evaluate an institution’s compliance management system and overall efforts to come into compliance, recognizing the scope and scale of changes necessary for each supervised institution to achieve effective compliance,” CFPB Director Richard Cordray wrote in his letter. “Examiners will expect supervised entities to make good faith efforts to comply with the rule’s requirements in a timely manner. Specifically, examiners will consider: the institution’s implementation plan, including actions taken to update policies, procedures, and processes; its training of appropriate staff; and its handling of early technical problems or other implementation challenges.”

    While the CFPB has indicated it will observe a certain undefined “grace period” while the industry works out the kinks during these early stages of TRID compliance efforts, the agency seems to be taking pains not to commit to anything concrete. However, there has been activity in Congress to make a formal TRID grace period official through legislation, though nothing has actually passed yet. A vote is scheduled this week in the House on H.R. 3192 which includes a TRID grace period through the end of the year. Regardless of how Congress moves on the issue, it is clear that industry members should make sure to keep vigilant about their compliance processes in the months and weeks ahead.

  48. FEDERAL TRADE COMMISSION

    CONSUMER INFORMATION

  49. The Federal Trade Commission (FTC), the nation’s consumer protection agency, wants you to know what a mortgage servicer does and what your rights are.

    Transfer of Loan Ownership
    The ownership and servicing rights of your loan may be handled by one company or two.

    If ownership of your loan is transferred, the new owner must give you a notice that includes:

    the name, address and telephone number of the new owner of the loan

    the date the new owner takes possession of the loan
    the person who is authorized to receive legal notices and can resolve issues about loan payments

    where the transfer of ownership is recorded.

    The new owner must give you this notice within 30 days of taking possession of the loan.

    It is in addition to any notices you may get about the transfer of the servicing rights for your loan.

  50. Lms 2 words TILA rescission

  51. yes used car guy, they appraised the house for 450k and I only paid 310k, values have been back around 300k for a couple years now and they want me to commit to 450k. now they really make me look like the irresponsible borrower that I am NOT! I know Chase has never either consummated the first loan or sold it off because they have no paperwork either than the note and mortgage that I signed in 06. I also took cash out for a new roof, but never took even close to what they said the house was worth back then. Chase has been hiding behind Fannie Mae since they threw me in foreclosure in 2012, not to mention that I was in the Chasemdlsettlement class action when they put me in foreclosure after they reneged on the loan mod in 2010 and then again in 2011. They thought they could slam the door on me quick. I wish I could find an honest lawyer to expose all the wrong they have done, but I am thinking if I sign the new loan mod that I could open a new lawsuit to make them prove ownership, but not sure if that would close the door on the old foreclosure. The only good thing I see about signing the new loan mod is judgement goes away and they have to see IF I default again if all this would open a new foreclosure case.

  52. Looks like a new lawsuit might be out there. Contact an attorney in your area.

  53. lms, it’s all about fabricating more debt (new money) for them to put on their balance sheet. These loans are extinguished and paid off.
    My mod is still trading even though I only made 6 payments. 5 years ago. Wells breached by not returning countersigned copies. This “original lender” scam has been going on for years. There was no “loan”. There was a trading of credits over the wire funded by unknown third parties. You issued the security, you didn’t get a “loan”.

  54. Deerfield beach florida, blackstone likes it, nice rental income, considered by many to be desirable area, east of federal hwy, the “good side” of town. most foreclosures resold and blackstone bought quite a few so not really any deterioration of properties on the “good side” of town. chase has tried to bully me out of my home for going on 7 years. Why?? Reneged on 2 loan mods and now they want me to sign a loan mod that is a payment of 45% of my gross mthly income and they have slapped an unexplainable150k on the back end. this is legal extortion either I sign or they go thru with foreclosure sale also says in loan mod paperwork, if I ever rent the property, I am considered in default. Why is that??? because blackstone and chase are in bed together and they want the rental income that I could make. also someone explain this. if fannie mae is owner of my loan and chase is servicer and the new loan mod is showing chase as originator/lender yet all thru court they had a blank endorsement, no assignment of any kind and new paperwork for loan mod looks the same as the old, would I be crazy to sign???? I think so!

  55. Bob, the profits are realized a couple different ways: writeoff on the lost income, writeoff of the servicing fees, collection of the PMI, creation of “new money” by reporting a 4yr defaulted HAMP as a paying loan, all escaping IRS and BK TRUSTEE Attorney and judicial attention. And then multiply the profits by 2, for double placement of the same loan in two similarly named trusts. So, Neil isn’t really talking out his arse when he says the foreclosure is preferable. The title problems on a lot of these properties are immense. Walkaways by banks leaving houses to rot for years is not uncommon. Got one across the street actually. Boarded up, and the county records clerk says nobody knows who owns the loan or the mortgage. No Sherlock! My neighbor was there badgering the records office and they could not or would not divulge the record owner of the loan. The homeowner is in jail doing 25 to life on a murder charge.

  56. Moreover, TITLE THEFT is MOB RACKETEERING to FRAUDULENTLY CONCEAL the motive is SATANIC RITUAL ABUSE (SRA), of U.S. CITIZENS by AIG & their MAFIA LAWYERS.

  57. They’re swapping out the evidence of their own BANK FRAUD by SWAPPING OUT their own TITLE FRAUD unlawfully.

    It’s IDENTITY THEFT by the WALL STREET CORPORATE KLEPTOMANIACS to cover up the ORIGINATION FRAUD that was IDENTITY THEFT by them in the first place.

  58. One example of the lack of moral civility coming from that building is when ANGEL GARCIA of BAYVIEW LLC said in his AFFIANT SAYETH NOT FRAUDULENT AFFIDAVIT 4 years late he downloaded their own BANK FRAUD on his computer & swears to its own AUTHENTICITY of LAWLESSNESS.

    Because he was not present for the ISSUANCE of their own BANK FRAUD, he could not possibly AUTHENTICATE it, REGISTERED CPA or not, which the law requires of the ACCOUNTANT, he incriminiated himself in FRAUD with the DIGITIZED SIGNATURE by swearing to downloading BANK FRAUD.

  59. The real question is, why do CREDITORS think they’re owed something for issuing FRAUD?

    No one signed that contract or they would be dead quite frankly because FRAUD IN THE ISSUING OF CREDIT is one vast UNLAWFUL DETAINER that cannot be LEGALLY ENFORCED because that’s how MOB RACKETS issue DEATH WARRANTS UNLAWFULLY.

    The MOB RACKET in particular, who uses DOMESTIC TERRORISM to carry out murder hits upon U.S. CITIZENS in OPEN SECRET is the UNLAWFUL BAILOUT GOVERNMENT AIG.

    Whose CARTEL of FREEMASONS include THE PRINCE HALL FREEMASONS, THE MUSLIM BROTHERHOOD, THE EL RUKIN MEDELLIN DRUG CARTEL, THE KKK, THE CHURCH OF SCIENTOLOGY, ETC constitute the DRUIDIC WITCHES & SORCERERS of the well contrived
    issues of the GESUITI high priests & high priestess LAWYERS who run their BANK FRAUD BLACK OPS for the GESUITI.

    The LEARNED ELDERS OF ZIONIST BANK FRAUD rule unlawfully by their ZIONIST PROTOCOLS DENOTED by THE SYNAGOGUE OF SATAN.

    The SOS could likely be headquartered in the 28th floor of the DALEY CENTER on 50 WEST WASHINGTON in CHICAGO, ILLINOIS denoted by the PICASSO of SATAN right out in front of the building.

  60. Hey greg, or rather everyone for that matter:

    Please send me the scanned digital image(s) of those green pieces of linen. I’ll re-hypothicate them by converting them to .pdf format for all of us to simultaneously share by e-mail, saving everyone of us the cost of the printer toner ink, the reams of paper, the electrical power, heck, even the printer.

    While you’re at it, send me those mortgage documents too, with which I’ll do the same. Then, I, too, can record an assignment of a lien against your home, but we’ll use our collective e-mail monies to send the banks for a loooong walk off of a short pier.

  61. I called DICK DURBIN’S office regarding the MORTGAGE FRAUD & spoke with one of his reps.

    It was right before the last SENATE ELECTION & the rep said contact the ILGA & complain.

    I said who would you vote for & he laughed.

    If the banks were the main protozoa, the FRAUD AMOEBA would have devoured its own ANTECEDENT .

    The only thing left STANDING would be CHICAGO TITLE & TRUST & GERTRUDE, the RUSSIAN CITADEL from GRANT THORTON.

    Therefore, the real problem is their LAWYERS.

  62. How many ways is there to riddle the jokes of MAURICE GREENBERG & AIG?

    What were they LEVERAGING when they bought out their own CRIME SYNDICATE under the BUSH ADMINISTRATION with U.S. TAXPAYER SWEAT EQUITY?

  63. news flash… from Dollapallooza.scum

    “Following the 20th century practice of digitizing and shredding original bank-notes and promissory-notes and keeping copies as JPGs (because it’s just too much of a pain in the arse to store them), the US Bankster’s Association has decided to now scan, digitize and shed all Federal Reserve Notes and issue them to people as JPG documents which can be passed around by email and printed on their home printers… No longer will the banks have to be burdened by storing and keeping those bothersome little green pieces of paper, rather, folks can now just print them “at will”, and just file a lost document affidavit in order to have the commercial system recognize them as authentic.”

  64. There would be no common sense reason for “lenders” to buy defaulted loans in mass quantities. There is n default if fraud or violations of truth in lending etc “Bob”. Besides injury creditors need to have an interest and Garfield’s post makes clear banksters have interest to address harm done they’ve ADMITTED to or in us as people or our communities and country.

  65. greg

    thanx for the standing link. it raises an interesting possibility, because there must be an injury-in-fact caused by the defendant in order for the plaintiff to have standing to sue. in the context of a foreclosure action, if the plaintiff bought a note already in default, who caused the plaintiff’s injury? If i defaulted on the note prior to the plaintiff’s purchase of the note, did i cause the injury or did the plaintiff knowing full well that the note was already in default when he bought it, cause himself the injury?

    Taking it a step further, one could argue that the original creditor who was holding the note when i defaulted would have a cause of action against me, not the purchaser. For example, if the lender lent me $100,000 and i defaulted on that amount, and the lender thereafter sold the note for $60,000, it could be argued that i caused the lender a $40,000 loss, and that the original lender would have a cause of action against me for that amount, not the purchaser. Kinda like an intentionally self-inflicted gunshot wound. You can’t really sue Smith & Wesson for your damage, because Smith & Wesson didn’t cause it.

    Might be a good case for a law school class.

  66. Neil, how can anyone take what you are writing seriously without your providing some evidentiary proof for your allegations. If you were on the other side of the table, you would be objecting to high heavens, and you would be getting sustained. Based solely on your allegations, none of this makes any economic sense. The banks are selling these properties 24-7 in upstate NY. That’s my contra-proof. Show us the money, Neil, show us the money.

  67. download state & federal Amicus Briefs from the Consumer Financial Protection Bureau which may apply to your case:

    http://www.consumerfinance.gov/amicus/

  68. back to standing… nice article
    http://law2.umkc.edu/faculty/projects/ftrials/conlaw/caseorcontroversy.htm

    e.g. “Standing doctrine confuses both lower courts and litigants, because the Court manipulates the doctrine to serve other objectives. When the Court wants to reach the merits of a case, the standing doctrine is often relaxed. Conversely, when the Court wishes to avoid deciding the merits of a case–or perhaps, when it wants to shut a whole category of cases out of court–, the requirements for standing are tightened.”

  69. There’s various BRANCHES & TRANCHES to their DRUG CARTEL of devil worshippers.

    CHASE/AIG/MORGAN STANLEY/DEAN WITTER & their INFRAGUARD CORP of DEMON GANG STALKERS is the reason why ERIC HOLDERS solution condones their DEATH WARRANT upon the U.S. CITIZENRY by how it promotes its own DECEPTION.

    CONSUMER FRAUD & DECEPTIVE PRACTICES is why banks like CITI have no LEGALLY ENFORCEABLE LIEN & NO LEGAL WARRANTS.

    THE BANKSTERS operate FINCEN BLACK BANKING OPS in the shadow of the LUCIFERIAN OBAMA ADMINISTRATION.

    THE SATANIC ELITE: AMERICAN MIND CONTROL & WORLD GOVERNMENT:

    http://www.newswithviews.com/McGuire/paul151.htm

  70. The SATANIC ELITE fraudulently control everything because they’re one vast DRUG CARTEL CRIMINAL ENTERPRISE of DRUG DEALERS.

    Those properties don’t get left behind in ILLINOIS, they get used to unjustly enrich the DRUG CARTEL ran by the ILLINOIS STATES ATTORNEY.

  71. The banks own the local courts and government as well. In this case Citi probably complied with some inspection requirement and even paid a fee as evidenced by documents found but ignored the harm done and homeowner rights. But it’s more than needing new laws they are ignoring law as long as they get their payoff from fees and in my case even if they don’t. They accuse us of being conspiracy nuts but with shoe on other foot MERS claimed civil conspiracy against them when govt took property on tax sale in recent case. So it depends if property is in a hot area they may try to keep property or to cover up something. But the actual civil conspiracy is against us.

  72. Better Laws need to be set in place requiring more than public notification of unclaimed things.
    Oh Boy! The Insurance Companies are Fighting us Hard here in Illinois.

  73. They r letting the properties go to destroy the evidence because when this fraudulent mess gets found out by all. People will want back what should have never been taken from them and the banks want to have as little recourse as possible. Thieves. Thieves. Thieves.

  74. It goes deeper than that … They are not telling you…what they owe you!
    Abandonment / Unclaimed property
    Escheats

  75. They are only interested in the sale because that is where their bread is buttered, They foreclosed for a fee. That is the way the GSE Business Model is designed and operated by the partner/players involved. Not complex.

  76. dailypuma, EXACTLY!
    You can choose not to play! Live off your income and don’t use credit!
    There is no profit without credit.
    Your lifestyle may decline .. But when you take back the Power you gave them … Your Health Improves.
    Many Blessings to All!

  77. That’s It Neil !!!
    They don’t want the money or the house!
    Its far more profitable to foreclose on the value of an Estate.
    They are foreclosing on the ESTATES!

    Plaintiff As One Half of the Estate … Reconveyence Bound!
    Quiet Time

  78. Lets complete the cycle Neil. After causing all of this havoc, the loss of all equity in a foreclosed home also creates credit card defaults, which then siphon even more of a state’s revenue through credit card filings in state and city courts and then creates 7 years of credit rating hardship plus wage garnishments, which is ironic because a foreclosure has already created an even bigger credit rating vacuum.
    Maybe the banks are being paid a bounty for every foreclosure they create since it means the foreclosure victim will pay probably 100% more on any future debt they incur.

  79. We’ll see. The courts are just NOW starting to wake up. I honestly think that the banks thought people like us would just go quietly away. Most did. There is a lot of shame and humiliation that goes along with a foreclosure. A lot of us simply ran out of money and time. The jig was up after 5 years. We were outgunned from the start and never stood a chance in a judicial system that blamed US for the foreclosures.

  80. We have a house in this terrible condition in my neighborhood. The only way the crimes of the banks are going to end is suing them, arresting those at the top, trying them and jailing them. The banks have never been held accountable for any of this, and it is still going on today. Why are people buying houses when they have to take out a note and mortgage? The same terrible things will happen to them, too.

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