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Appraisal

BLACK KNIGHT, CORE LOGIC MOVE TO AUTOMATED VALUATION FOR APPRAISALS

2 Comments / foreclosure / By

Appraisal fraud creates civil and criminal liability. And it turns out that licensed appraisers are still uncomfortable with the current system of faking appraisals. So the investment banks, acting through their principal agents, Black Knight and CoreLogic, have turned to automation in order to do the calculation that results in the valuation of the property. …

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Appraisers Reverse — Now Going Low

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

CLICK HERE FOR CONSULTATION WITH NEIL “We can account for small to reasonable increases in values,” Mr. McKinnon said. “We cannot account for $20,000 jumps in a month.” Editor’s Comment: An amazing quote from someone who obviously is NOW stressing the fundamental elements of an appraisal, especially where there is a loan involved. During the …

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Five Bad Reasons to Avoid Principal Correction (Reduction)

67 Comments / bubble, CDO, Corruption, currency, Eviction, evidence, Fannie MAe, foreclosure, GTC | Honor, investment banking, Investor, Modification, Mortgage, securities fraud, Servicer, Statutes / By

5 years ago it was obvious to anyone with the facts that the entire system or mortgage origination and mortgage foreclosures had been turned on it’s head, starting with one huge lie: that the value of the property exceeded the amount of the loan. It was in 2005 when 8,000 appraisers warned congress that their …

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BOFA-Aurora Appraisal Fraud $1.8Million Lawsuit Filed in New York for One Homeowner

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

MOST POPULAR ARTICLES CLICK HERE TO GET COMBO TITLE AND SECURITIZATION REPORT Use this form under the heading “Best Practices” — Excellent in every respect. Hats off to Ivan Young of the Young Law Group in Bohemia, New York. I say the Defendants have a collective exposure of several million dollars. If I can find …

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Foreclosure-Gate Screw Tightens: Banks Face $17 Billion in Suits Over Foreclosures

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

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S COMMENT: Here is our problem writ large. The commentary written by Shedlock (see below) is basically on the side of punishing the banks for their wrongdoing, but not giving any relief to borrowers. The logic behind the position is that anyone who does not pay …

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THE PROBLEM WITH PRINCIPAL "REDUCTION" VS PRINCIPAL "CORRECTION"

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

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary “While Wall Street has us all thinking that this is so complicated that it can never be unraveled, the reverse is true. If the homeowner was the victim of a crime or misfeasance or malfeasance, then the homeowner has every right to restitution and redress …

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NY Appeals: AG may pursue Banks for Fraudulent Appraisal

10 Comments / CASES, CDO, Corruption, Eviction, evidence, expert witness, foreclosure, foreclosure mill, Forensic Analysis Workshop, GTC | Honor, HERS, Mortgage, Motion Practice and Discovery, Pleading, securities fraud, Securitization Survey, Statutes, workshop / By

Editor’s note: I think the standards used here apply to ALL private actions for appraisal fraud. With appraisal fraud proven, virtually all lending statutes are proven to have been violated. Appraisal fraud lies at the root of the mortgage mess with its sister, ratings fraud. Both are appraisals and both are ratings. Both were designed …

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Bank of America to Pay $108 Million in Countrywide Case

14 Comments / CASES, Corruption, Eviction, evidence, expert witness, foreclosure, foreclosure mill, Forensic Analysis Workshop, GTC | Honor, HERS, investment banking, Investor, Modification, Mortgage, Motion Practice and Discovery, securities fraud, Securitization Survey, Servicer, Statutes, trustee, workshop / By

GET LOAN SPECIFIC RECORDS PROPERTY SEARCH AND SECURITIZATION SUMMARY FTC v Countrywide Home Loans Incand BAC Home Loans ServicingConsent Judgment Order 20100607 Editor’s Comment: This “tip of the iceberg”  is important for a number of reasons. You should be alerted to the fact that this was an industry-wide practice. The fees tacked on illegally during …

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Insider Confirms Builder Complicity in Appraisal Fraud

4 Comments / bubble, CASES, Corruption, Eviction, expert witness, foreclosure, foreclosure mill, GTC | Honor, HERS, Modification, Mortgage, Motion Practice and Discovery, Statutes / By

Editor’s Comment: Appraisal fraud, ratings fraud, misrepresentation, steering investors and borrowers in the wrong direction — all of these amount to the same thing: DECEIT. And as everyone knows, when someone is bilked out of money or value through deceit, they are entitled to made whole — as close as possible, and probably entitled to …

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Berating the Raters and Appraisers

7 Comments / bubble, CDO, Corruption, Eviction, expert witness, Fannie MAe, foreclosure, foreclosure mill, Forensic Analysis Workshop, GTC | Honor, HERS, investment banking, Investor, Modification, Mortgage, Motion Practice and Discovery, securities fraud, Securitization Survey, Servicer, Statutes, trustee, workshop / By

“of AAA-rated subprime-mortgage-backed securities issued in 2006, 93 percent — 93 percent! — have now been downgraded to junk status.” Editor’s Note: What homeowners and their lawyers, forensic analysts, and experts need to realize is that the ratings scam on Wall street was only one-half of the equation in a scheme to defraud homeowners. If …

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Foreclosure Prevention 1.1

8 Comments / bubble, CDO, community banks, Corruption, credit unions, currency, education, Eviction, expert witness, Fannie MAe, foreclosure, foreclosure mill, foreign relations, Forensic Analysis Workshop, GTC | Honor, HERS, Investor, Modification, Mortgage, Motion Practice and Discovery, Obama, politics, securities fraud, Securitization Survey, Servicer, taxes, workshop / By

Nobody ever thought that returning a lady’s purse to her after a purse snatcher ran away with it was a gift. So why is anyone contesting returning the purse to homeowners who had their lives snatched from them? The baby steps of the Obama administration are frustrating. Larry Summers, Tim Geithner and those who walk …

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Sample Interrogatories

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

SUPERIOR COURT OF NEW JERSEY CHANCERY DIVISION – ESSEX VICINAGE ——————————————————————X                Civil Action Deutsche Bank National Trust Company, As Trustee Of Argent Securities, Inc. Asset Backed Pass Through Certificates, Series 2004-PW1 Docket Number: XXX REQUEST FOR INTERROGATORIES Plaintiff(s), vs. XXX; John Doe, Husband Of XXX                                                                            XXX Avenue Rosedale, NY 11422 Defendant(s)/Pro Se ——————————————————————X REQUEST FOR …

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Monster From Below, Not from Above — Appraisal Fraud

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

Editor’s Comment: Again, myth prevails. The monster that gobbled our home equity and the value of our pension funds came from the waters beneath the market not from some economic disaster or sudden migration of population to Australia. The “loss of value” was nothing of the sort. Prices were going up during a decade when …

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Train wreck waiting to happen: Appraisal fraud

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

more than 8,000 appraisers – roughly 10 percent of the industry – have signed a petition asking the federal government to take action. “There are a lot of people who have refinanced for more than their homes are actually worth and they’re effectively already upside down even without a real estate bubble bursting,” said Callahan. …

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Michigan, Ohio, Texas Lawyers Wanted: We Know You're Out There

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

The business case for taking, handling and litigating residential “mortgage” cases has been proven over and over again. Unfortunately most lawyers are ignoring this opportunity. The latest estimates are that it will take 6-12 years to clean up this mess and I think that is very conservative. My analysis shows that it will take the …

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How to Negotiate a Modification

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

See how-to-negotiate-a-short-sale See Michael Moore — Modifications See Template-Lawsuit-STOP-foreclosure-TILA-Mortgage-Fraud-predatory-lending-Set-Aside-Illegal-Trustee-Sale-Civil-Rico-Etc Includes QUIET TITLE and MOST FEDERAL STATUTES — CALIFORNIA COMPLAINT See how-to-buy-a-foreclosed-house-its-a-business-its-an-opportunity-its-a-risk My statements here relate to general information and not legal advice. Generally we are of the opinion that the loan modification programs are a farce. First they end up in foreclosure in 6-7 months …

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Greenspan: If you can't blame the borrowers, blame the investor — anyone but the real culprits

4 Comments / CDO, currency, Eviction, foreclosure, GTC | Honor, Mortgage / By

October 23, 2008 Alan Greenspan was wrong today when he said that investors did not look critically enough at the ratings. Finance is based upon trust, and these companies had been trustworthy for many decades. Here is the real story. The very notion of pooling is and was illegal. Allocation of payments, recording statutes, recording …

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