Category: Government Financial Complex

Geoff Walsh of National Consumer Law Center (NCLC) publishes very informative article regarding foreclosure

Almost everyone writing articles about consumer finance, mortgage loans, and servicing is now in agreement that there are viable meritorious defenses for the consumer. True, they are not obvious to the casual observer, which is part of the problem. see NCLC Digital Library – 12 Ways to Fight Foreclosure of Zombie Second Mortgages – 2022-03-28 But the defenses available to consumers and to homeowners, in particular, are sufficient to defeat most attempts to administer, collect or enforce any alleged loan account receivable mostly because no such account exists on the books of the party named as the owner of the”note”.

Read More »

Ally $52 Million settlement for "Deficient Securitization"

All of these adjectives describing securitization add up to one thing: the claims were false. For the most part none of the securitizations ever happened. And that means that the REMIC trusts never purchased the debt, note or mortgage. And THAT means the “servicer” claiming the right to administer a loan on behalf of the trust is false. And THAT arguably means the business records of the servicer are not business records of the creditor. And THAT my friends means what I have been saying for 10 years: virtually none of the foreclosures were legal, moral or justified. The real

Read More »

Search Our Blog

Subscribe to our Blog!

Scroll to Top