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October 21, 2010

Federal bailout for Fannie, Freddie could more than double, regulator says $215 billion

18 Comments / bubble, CDO, Corruption, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

Editor’s Note: All this because they won’t face reality and insist on maintaining the illusion that the “loan” transactions were anything but empty promises based on misrepresentations. There is another way out of this without letting the Wall Street socialists continue to dine at the taxpayer trough. To do that we have to put aside …

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Judges, Lawyers, Prosecutors, Legislators Apply the Brakes to Foreclosures

17 Comments / bubble, CDO, Corruption, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary EDITOR’S COMMENT: While I commend the reporting and the acts by Judges, lawyers and government officials, they still don’t “get it.” The presumption is that the homeowner owes the money that the servicer says is due. That is a lie. Thus the assertion that the …

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Can I Borrow Your Law License?

10 Comments / bubble, CDO, Corruption, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary “In its S.E.C. filing, Prommis alerted potential investors that it could face challenges from bar associations, prosecutors or homeowners that its relationship with its law firms constituted the “unauthorized practice of law” or involved “impermissible fee sharing” arrangements.” “The relationship between the Wall Street specialists …

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Can I Borrow Your Appraisal, Mortgage Broker, Real Estate, Title Agent License?

9 Comments / bubble, CDO, Corruption, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary Coupled with the obvious improper relationship between lawyers and Wall Street, is the prior history of having done essentially the same thing in the creation of the loans. People who had licenses to practice their profession threw caution to the winds in exchange for large …

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Simon Johnson: Foreclosures Present Systemic Risk

5 Comments / bubble, CDO, Corruption, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

Bank of America is a particular worry, because its capital position is already precarious, and any downgrade by rating agencies will push it into dangerous territory. To the extent the market believes that the government does not stand fully or immediately behind Bank of America (a view expressed by Morgan Stanley analysts in a note …

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