From Jose Semidey: [Editor’s Note: This is a major item that affects the core of both claims and defenses against the lenders. Any party seeking to foreclose is “admitting” that they are the holder in due course on the note or that they are the authorized agent for the HDC. Inflated appraisals greatly affect the …
Wells Fargo, Rels Conspired to Inflate Home Appraisals Read More »
First From Comments: mers-info-excellent-submission-and-discovery And second: take a look at this site, which is under attack by Goldman Sachs for telling the truth and raising good questions. Goldman Masters of the Unvierse are going to try to shut it down. www.goldmansachs666.com
The article below by Andrew Rosenfield is an excellent summary of the problems and contradictions facing the Obama administration. But it misses the same point that everyone has failed to ask about. If the intent was to sell the loans to investors and Wall Street took money for that sale, then we must assume that …
The elephant in the living room: What is the Federal Government Buying? Read More »
Editor’s Note: This article is on the right track. Using the guidelines of resolution trust, a fair and equitable distribution of risk and loss could be achieved while at the same time demonstrating to the world that the United States accepts the responsibility for what our “masters of the universe” on Wall Street and Main …
Too many people are looking for an easy way out and reporting that Judge’s don’t like their arguments because they are going into court saying they don’t owe the money and there is no obligation. This argument starts you off on the wrong foot and heads for disaster. The better approach is to start off …
From M Solimon: {Editor’s Note: Lots more here than meets the eye. You want to know what ledger entries were made by each entity and by what individuals and under whose supervision or instructions the entry was made. Besides being able to trace the holder in due course you will probably eliminate most of their …
Get those Ledger Entries from everyone — they tell a long story Read More »
From Sal Danna: When Countrywide took over the servicing from Greenpoint, the loan was already in default which automatically makes Countrywide a debt collector. If it was not in default, then a loan servicer is not considered a debt collector. When I received the first letter from Countrywide, it contained the standard “This is an …
Violation of the Fair Debt Collection Practices Act (“the FDCPA”) Read More »
“The way mortgages are bundled and resold, it can be enormously time-consuming just trying to determine what company holds the loan on a property thought to be in foreclosure.” Susan Saulny of the NY Times gets credit for her story on the front page today. It points out what we have been saying here all …
By the METHOD of pooling and tranching, they converted from negotiable to non-negotiable instrument. (Article VIII UCC). That means that upon transfer the recipient of the payment is satisfied in full and a new obligation arises between the seller and buyer separate and apart from the borrower. Further, the method calls for the proceeds of …
BOTTOM LINE: Use of a nominee causes an irreconcilable cloud on title entitling the homeowner to recovery on his homeowner title insurance policy. If homeowners purchased title insurance, they were at the same time in the same closing agreeing that the names of MERS and Countrywide would be used, for example, but that off-record activity …
Curious "disclosure" by MERS and Countrywide: What is a nominee? Read More »
Many thanks to Alan Baron who has been staying on top of the research. Rand Corporation v Yer Song Moua: Manisy Moua, John Doe, Mary Roe, United States Court of Appeals Filed March 20, 2009. 8th-cir-tila-rand-march-20-2009 Phoenix, Az March 25, 2009. by Neil Garfield. Despite nearly heroic efforts by the banking industry to avoid an …
8th Circuit Comes Down Heavy for Homeowners on TILA Rescission Read More »
The Big Takeover The global economic crisis isn’t about money – it’s about power. How Wall Street insiders are using the bailout to stage a revolution MATT TAIBBI Posted Mar 19, 2009 12:49 PM ADVERTISEMENT It’s over — we’re officially, royally fucked. no empire can survive being rendered a permanent laughingstock, which is what happened …
Why Show Me The Note Matters —- kudos to the Bankruptcy Law Network By Wendell Sherk, Missouri Attorney on Mar 17, 2009 in Bankruptcy Practice and Procedure, Credit, Bankruptcy, and Society, Featured, Missouri More bankruptcy courts are demanding mortgage servicers prove they are entitled to collect on a mortgage loan note before foreclosing. The fight over …
The big deal is that it is ONLY the holder in due course who is allowed in court to make claims or enforce any rights regarding the mortgage and note. No servicer (e.g. Countrywide), administrator (e.g. MERS), or trustee has any right to do a judicial or non-judicial foreclosure because they are not the holder …
As reported in the Florida Bar News dated March 1, 2009, The Supreme Court of Florida has received a petition to require foreclosure mediation. The article by Mark D Killian, managing editor states “Contending that prejudgment mediation could save more than 130,000 Florida homes from foreclosure and assist more than 360,000 borrowers,” the plan is …
Florida Petition Seeks Mediation of Foreclosures Read More »
it follows that the investors are the ONLY parties with standing to make any claim on the mortgage, note or obligation. But they won’t make that claim because of the exposure to risk that could leave them with even more loss than the current loss on their investment. This leaves trillions of dollars in unclaimed …
“Our position is that the mortgage with IndyMac is toilet paper — it has no legal standing,” March 8, 2009 Mortgage Fraud Case Poses Federal Quandary By MICHAEL POWELL Waver Brickhouse, gray-haired and soft-spoken, has come undone twice during the nation’s housing crisis. In 2005, she fell behind on her mortgage payments and turned to …
Submitted by a gifted pro se litigant. See Comments. My only comment before quoting his comment (editor’s discretion) is that the obligation to perform due diligence is present in all cases, in all courts and in all legal procedures. Failure to do so will negate any attempted action once it is pointed out by the …
Arizona Now Requires "Due Diligence" by Parties Seeking Foreclosure Read More »
From one of our more sophisticated readers. see Comments ——————————- Obviously there are a lot of home owners in trouble. You need to warn them of a trap that has been set for them. I’ve given you some information concerning my case, but I would appreciate 5 minutes of “talk time” at your convenience. The …
We are receiving numerous reports of “vulture” investors picking up MBS securities and where possible buying actual pools of mortgages for 8-10 cents on the dollar. The basic assumptions are two: (a) the securities and the mortgages, notes and obligations are worthless and (b) the government guarantees and willingness of borrowers to “modify” will result …
Investors Bet on Mortgage Backed Securities — Former Countrywide Officers Read More »
Greetings! I hope you like our new look. Our team has been working on producing a more user friendly atmosphere and the work continues. I hope you like it. More improvements are coming. 3/2/09 Bailouts are going to the perpetrators rather than the victims. The mystery deepens as to where all this money went and …
I am a lawyer in Georgia and it has been my experience in Georgia the lender will move the court to modify the rescission procedure by having you tender the money into the court registry (15 USC 1635(b)) within a specified amount of time., usually 6 months. The mortgage will only be removed after this …
Georgia Lawyer's Strategy on "Bond" Requirement Has Merit Read More »
submitted by NY Interestingly, with the exception of Judge Bufford and a few other judges, there has been less than adequate focus upon the UCC title issues. The next round of cases may and should focus upon the title to debt instrument. The person seeking to enforce the note must show that: (1) It is …
President Obama is taking on a very challenging task. A direct statement to the American people that their mortgages and notes are invalid, unenforceable or void would be portrayed as undermining contractual obligations. It would infuriate the investors who bought the worthless CDOs and undermine Obama’s enormous popularity with allegations of throwing the finance system …
