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November 9, 2010

HEAD BKR JUDGE IN AZ JUST RULED BONY MELLON MUST PRODUCE THE CUSTODIAL RECORDS

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

JUDGE CURLEY THE HEAD BK JUDGE IN AZ JUST RULED MINUTES AGO THAT THE BANK OF NEW YORK MELLON MUST PRODUCE THE CUSTODIAL RECORDS IN THEIR VAULT IN A CASE AGAINST AN AZ HOMEOWNER, THEREBY PRODUCING THE NOTE AND ALL OTHER DOCS. Here is the link to the docs: http://ia341339.us.archive.org/3/items/gov.uscourts.azb.529181/gov.uscourts.azb.529181.docket.html THIS IS A TRANSFORMATIONAL DECISION.  …

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BLOOMBERG: GMAC CASE MAY ESTABLISH ANTI-BANK PRECEDENT

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GMAC foreclosure case may set anti-bank precedent Michael Riley, Bloomberg News Tuesday, November 9, 2010 When James Renfro had to stop making payments on his two-story fixer-upper in Parma, Ohio, a suburb of Cleveland, he triggered events that were supposed to result in the forced sale of his home. That Nov. 15 auction has been …

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50 State AG's and Ass't AG's Lack Adequate Knowledge to Prosecute

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FW: ACTION ALERT: A few moments of your time to help educate the Multi state AG panel of 50 AGs investigating foreclosure “practices”.‏ charles@ba​yliving.com Homeowners War    charles@bayliving.com Homeowners War charles@bayliving.com Send email Find email View details To Charles Cox From: Charles Cox (charles@bayliving.com) Sent: Wed 11/03/10 8:09 AM To: Charles Cox (charles@bayliving.com)   From: …

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Taking 2nd Mortgage to Pay the Foreclosure Lawyer

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

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary “Until recently, foreclosure defense would have been considered the lowest of the low — below the divorce guys, below ambulance chasers,” said Mr. Oppenheim, who practices in Weston, Fla. “The idea was inconceivable that you might have legitimate defenses when your client did not pay …

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GOLDMAN FRAUD DECISION: a watershed — ramifications across the financial sector.

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EDITOR’S NOTE: This decision is buried in the flurry of articles regarding the liability of investment banks for fraud in connection with upstream or downstream activity. This decision stands for the proposition that Goodman had sufficient knowledge to know or it SHOULD have known that there was fraud in the activities that were subject of …

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Wall Street Back-Office Blues: No Clerical Solution

4 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 NOTE: In a few of my recent articles I referenced the great paperwork crisis that brought down several large brokerage firms in the late 1960’s. The article below gives more details and comparisons with the current situation. I agree with everything he is saying …

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HUFFPOST: Foreclose on the Foreclosure Fraudsters, Part 2: Spurious Arguments Against Holding the Fraudsters Accountable

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

“Let us deal with the “borrower fraud” argument first because it is the area containing the most erroneous assumptions. There was fraud at every step in the home finance food chain: the appraisers were paid to overvalue real estate; mortgage brokers were paid to induce borrowers to accept loan terms they could not possibly afford; …

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BKR: Get the Federal Trustee Interested in Your Case

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Lender Processing Services Has a Very Bad Day: Federal Bankruptcy Trustee Joins Litigation Against LPS on Behalf of All Chapter 13 Trustees in the US Lender Processing Services, which provides “technology” services to servicers and foreclosure mills, is under an escalating legal assault. Although media attention has focused on its role as a generator of …

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