In a dispute between the attorney for the homeowner and the attorney for the alleged “lender”, there are a number of devices that are nearly universally applied across the country in order to ridicule and defeat the homeowner. The more you are aware of them, the better you will be prepared to deal with them. …
The following is but a short sampling supporting the argument that any document coming from the banks and servicers is suspect and unworthy of any legal presumption of authenticity or validity. Judges are looking into self-serving fabricated documentation and coming to the wrong conclusion about the facts. Chase following bank playbook: screw the customer “Chase …
Fighting Off Foreclosures Fighting Off Foreclosures Editor’s Note: Fannie and Freddie have foreclosed on almost 4 million homes since the financial crisis of 2008. The GSEs typically can’t prove they own the loan if it was securitized between 1999 and 2014. Did you know that Fannie Mae and Freddie cannot accept a note that is …
Fannie and Freddie foreclose on almost 16,000 homes in May, almost 4 million since 2008 Read More »
As we have seen for months there have been a steady stream of cases in which the courts have turned back to the fundamental requirements of due process and the rule of law. Here the court reminds (again) that judicial notice is not a substitute for foundation of facts in dispute AND that the homeowner’s …
1st DCA CA: Not so Fast on Rubber Stamping Foreclosures Read More »
Editor’s Note: Former Secretary of Treasury Timothy Geitner was instrumental in greasing the runways for HAMP so the GSEs could steal homes. But he also engineered the theft of GSE investor profits while proclaiming Fannie Mae and Freddie Mae to be on the verge of collapse. Instead, the federal government, in an act of unconscionable …
Editor’s Note: The Fed is doing everything in its power to maintain the real estate bubble in order to maintain demand- by lowering credit score requirements, offering lower down payments (1 to 3%), and now removing the lender’s responsibility for home valuations. What could go wrong? http://www.miamiherald.com/news/business/real-estate-news/article157002859.html By KENNETH R. HARNEY Do we always need …
Refinancing mortgage? Maybe you don’t need that appraisal after all Read More »
WOW! BIG Housing & Mortgage Easing News: This Changes Thing https://mhanson.com/6-2-hanson-wow-big-housing-mortgage-easing-news-changes-things/ by Mark Hanson Fannie Mae pulls a 2006-style credit ease…this changes things. QUESTION: How do you know you that you are past mid-stage in a housing bubble? QUESTION: How do you know that the overlords are worried about a housing market correction? QUESTION: …
Fannie Mae eases credit requirements boosting purchasing power by 22% Read More »
The top reason mortgage applicants nationwide get rejected is because they’re carrying too much debt relative to their monthly incomes. Fannie Mae will be raising its DTI ceiling from the current 45 percent to 50 percent as of July 29. Fannie Mae and the Federal Reserve are engaging in the exact same practices that resulted …
Fannie Mae to lower Consumer Financial requirements in July Read More »
A sluggish mortgage-bond market could be jump-started by a new service that allows investors to short home loans. Skeptics say the rise of derivatives on credit-risk transfer notes sold by Fannie Mae and Freddie Mac has echoes of the 2008 credit crisis, when the market plunged under the weight of collapsing subprime securities. Fannie and Freddie – the …
New products could increase the number of investors shorting U.S. home loans Read More »
After four months of leaving the benchmark interest rate for standard mortgage modifications (not including HAMP mods) at an 18-month high, Fannie Mae and Freddie Mac recently announced that they are cutting the benchmark rate. Back in January, Fannie and Freddie increased the standard mortgage modification benchmark rate from 3.875% to 4.25%. That level is the highest …
Fannie, Freddie cut mortgage modification interest rate for first time in 2017 Read More »
By Richard Bowen They’re Back! Fannie and Freddie Ride Again It looks as if Fannie Mae and Freddie Mac have not learned from their previous enabling of banks leading to the financial crisis. In fact, it looks as if the two are still using the same business model; they are lowering even further their underwriting …
CitiBank Whisteblower Richard Bowen: They’re Back! Fannie and Freddie Ride Again Read More »
Homeowners start preparing your Fannie and Freddie FOIA requests. A brief window to submit your request may occur prior to the GSEs being privatized again. Last week H.R. 1694 passed in the House of Representatives. This bill will make Fannie Mae and Freddie Mac subject to the requirements of the Freedom of Information Act, which …
H.R. 1694 Passes: Fannie and Freddie Open Records Act of 2017 Read More »
Steve Mnuchin stated Monday on Fox News that President Obama engineered the “Net Worth Sweep” (NWS) in August 2012 to divert funds from the two Government Sponsored Entities (GSEs) to pay for Obamacare, after Congress refused to fund the low-income insurance subsidies critical to keep afloat the Affordable Care Act (ACA). “There is a Twitter …
FannieGate: Obamacare Looting Scheme by diverting Fannie and Freddie Funds Read More »
Author: Aly J. Yale http://www.themreport.com/daily-dose/05-01-2017/mnuchin-gses-wont-stay-long Fannie Mae and Freddie Mac should prepare for change—and sooner rather than later. According to Steven Mnuchin, the Trump administration won’t keep the status quo for long. Mnuchin discussed the GSEs and housing reform in general as part of an interview with reporter Maria Bartiromo on Fox Business’ “Mornings …
http://www.fanniemae.com/portal/media/financial-news/2017/student-loan-debt-6546.html The massive student loan bubble the Feds created has resulted in a generation that is unable to afford a home like previous generations. Millenials are often not able to find a job that provides a living wage and the ones that bought into the hype that an over-priced college degree provides value often graduate …
By K.K. MacKinstry/LendingLies Anyone who is trying to find out information about the trust ownership of their loan, knows that if Fannie Mae or Freddie Mac are involved- your research hits a stone wall. Homeowners who have a mortgage not secured by the GSEs are better able to determine what trust their loan was allegedly …
Please refer to Bloomberg news for article about the Goldman Sachs/Fannie Mae non-performing loan purchases at: https://www.bloomberg.com/view/articles/2017-03-20/mortgage-math-and-sympathetic-sales
By the Lending Lies Staff Just last year Goldman Sachs entered into settlements with state and federal governments over the sale of toxic mortgage backed securities to investors while subsequently shorting the very same securities they were selling. Goldman would agree to provide $1.8 billion in debt relief to delinquent borrowers. However, since Goldman (and …
Why would Goldman Sachs buy Delinquent and Defective Mortgages? Read More »
Editor’s Note: Although the hedge funds and investors can’t claw back lost profits, perhaps they can sue on the rampant fraud committed by the GSEs. http://www.zerohedge.com/news/2017-02-21/fannie-freddie-plunge-after-court-rules-hedge-funds-cant-sue Moments ago, the stocks of the nationalized GSEs – Fannies and Freddie – tumbled by over 30%, after a federal appeals court upheld a ruling that barred hedge funds …
Fannie, Freddie Plunge After Court Rules Hedge Funds Can't Sue Read More »
By the Lending Lies Team Fannie Mae and Freddie Mac have launched a new loan modification program for troubled mortgages known as “Flex Modification.” The GSE’s have an issue with rising defaults and questionable paperwork and the Flex Modification allows them to modify the underlying defective “loan” and gloss over the false endorsements, assignments and …
Fannie and Freddie Launch Flex Modification Program: No Paperwork Required in Some Cases Read More »
We all know that the banks committed wholesale fraud on the government, on investors, on the the court system and on borrowers. They fabricated documents, forged them, altered them, and even paid off employees of Government agencies to do things that in normal circumstances would never be tolerated. The question is why did the banks …
Mnuchin was and remains “the guy between the guys.” Billed as the organizer of OneWest his role was to provide a layer between the founders and the rest of the world. His prospective appointment As Secretary of the US Treasury means that the TBTF banks would have a lackey to do what the banks wanted …
Mnuchin as Treasury Secretary: Lackey for the TBTF Banks Read More »
http://www.vice.com/read/when-you-buy-a-house-but-dont-actually-own-it Danny Shedd’s nightmare began with some cows. When Shedd, a 12-year veteran with combat experience in Iraq and Afghanistan, finished up his military service at Fort Benning, Georgia, he and his wife, Jacinda, wanted to move to the prairie. The house they settled on in Big Cabin, Oklahoma, was perfect: a 5,400 square-foot, four-bedroom …
David Dayen: When You Find Out Your Neighbors Own Your House and They Try to Evict You Read More »
Fannie and Freddie have reportedly been cash-cows for the federal government who have allegedly held the quasi-governmental guarantors hostage during eight-years of government receivership. Fannie and Freddie have returned to the Treasury over $60 billion more than they received in the bailout. But the amount they owe to the government remains outstanding. It is …
Forbes: Fannie, Freddie Could Need as Much as $126 Billion in Crisis Read More »
