Upon finding that a portion of those payments should be applied to the subject loan, the declaration of default would be invalid because it would either be wrong inasmuch that the third party payments would at least be prepayments of future monthly payments, or wrong because the third party payments reflected an inaccurate accounting of …
A Thought About Bankruptcy Petitions: Creditor ID Read More »
“That’s right. Issuers are essentially paying twice for flawed deals that bestowed great riches on the bankers and advisers who sold them. Taxpayers should be outraged, but to be angry you have to be informed — and few taxpayers may even know that the complicated arrangements exist.” Editor’s Note: At some point, it will become …
Editor’s Comments: Everyone now has heard of credit default swaps but very few people understand what they mean and fewer still understand their importance in connection with the securitization of residential mortgage loans and other types of loans.The importance of understanding the operation of a CDS contract in the context of foreclosure defense cannot be …
“Yet on a wholesale basis, Goldman Sachs and others not only had the inside information, they had created it. That is why Goldman started trading against the the interests of its clients to whom it was selling mortgage backed securities that were designed to fail” “Both the investor and the borrower would have understood that …
Credit Default Swaps as Insider Trading Violation Read More »
The fact is that credit default swaps and other complex derivatives that have proved to be instruments of mass destruction still remain entrenched in our financial system three years after our economy was almost brought to its knees. Editor’s Note: Credit default swaps were the glue that held the mortgage meltdown scheme together. If there …
Editor’s Note: 180787_86_opinion Lehman My reading of this report is that the underlying principle of the ADDITION of conditions and co-obligors changed the homeowner’s note from being negotiable to non-negotiable. This decision doesn’t say that but the underlying reasoning leads me to believe that we are on the precipice of a paradigm shift in the way …
Bankruptcy Judge Invalidates Securitization Payment Structure Read More »
OK I’m upping the ante here with some techno-speak. But I’ll try to make it as simple as possible. YIELD is the percentage or dollar return on investment. For example, if you buy a bond for $1,000 and the interest rate is 5%, the yield is 5%. You are expecting to receive $50 per year …
Yield Spread Premiums Prove Appraisal Fraud: The Key to Understanding The Mortgage Mess Read More »
NY Times: “When you buy protection against an event that you have a hand in causing, you are buying fire insurance on someone else’s house and then committing arson.” Mr. Lippmann made his pitch to select hedge fund clients, arguing they should short the mortgage market. He sometimes distributed a T-shirt that read “I’m Short …
EDITOR’S NOTE: Earth,the final frontier. Somewhere there are people who grasp the concept of reality. But to give credit where credit is due Floyd gives primary print space to contrary points of view. Even better, he shows his professionalism by asking the two questions (1) why would banks lose the note and (2) “what am …
How to Use Lost Documents and Destroyed or Withheld Documents Read More »
NOW AVAILABLE on KINDLE/AMAZON The Emperor\’s New Clothes: THOSE FORECLOSURES ARE NOT REAL FOLKS, GET IT? 1-in-10-u-s-mortgage-delinquencies-reach-a-record-high-going-up The Emperor is still strutting around as though he was fully clothed in the best silk, color and design. Wall Street is still the darling of government and a whole lot of other people, even if it was …
The Emperor's New Clothes: THOSE FORECLOSURES ARE NOT REAL FOLKS, GET IT? Read More »
AVAILABLE ON KINDLE/AMAZON You can use this information by establishing “probable cause” in the mind of the Judge or jury right off the bat — we know they lied to investors, are we now supposed to believe they told the truth to the homeowners? This is the kind of news article buried deep into a …
Wells Fargo to Repurchase $1.4 Billion of Securities: WHAT THAT MEANS TO YOU Read More »
