Pretender lenders are going to cite this case as support for the idea that the note and mortgage can be separated and that either one can be the basis of a successful foreclosure. They will rely on the “exception” implied in the court decision wherein the owner of the note has an agency relationship with …
NJ Court: Possession of note + mortgage assignment is prerequisite to foreclosure Read More »
Payment by third parties may not reduce the debt but it does increase the number of obligees (creditors). Hence in every one of these foreclosures, except for a minuscule portion, indispensable parties were left out and third parties were in reality getting the proceeds of liquidation from foreclosure sales. The explanations of securitization contained on the websites of …
Same Old Story: Paper Trail vs, Money Trail (Freddie Mac) Read More »
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 »
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 »
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 …
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 …
By New York Times reporter Gretchen Morgenson Seven years after their dubious lending practices helped push the United States economy to the brink of disaster, the nation’s largest banks are closing in on a long-sought goal: to unseat Fannie Mae and Freddie Mac, the mortgage finance giants, and capture their share of the profits in …
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 »
In the final analysis there is nothing about the business model that makes sense. Switching servicers and owners is simply not the norm of the industry except in relation to cases in foreclosure. It only makes sense if you assume that they are hiding the truth. Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message …
The resulting case law is opening up Pandora’s box as the law of these foreclosure cases spills over into hundreds of other situations. Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments. THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER. —————- …
Freddie Mac Selling Toxic Loans: Do they really own those loans? 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 »
For further information please call 954-495-9867 or 520-405-1688 Listen to Neil Garfield Show on Thursday February 26, 2015 at 6pm EDT., and each Thursday =============================== see http://www.njspotlight.com/stories/15/02/02/new-foreclosure-procedures-put-to-test-as-number-of-cases-climbs-in-nj/ New Jersey now has an upsurge of Foreclosure activity. It is on track to become first in the nation in the number of foreclosures. What is clear is …
Modification Minefields as Foreclosures Resume Upward Volume Read More »
For further information please call 954-495-9867 or 520-405-1688 ============================== http://nypost.com/2015/01/31/ny-federal-judge-slams-wells-fargo-for-forged-mortgage-docs/ COURT FINDS PRESUMPTIONS CAN BE REBUTTED BY A SHOWING OF SOME EVIDENCE THAT THE INSTRUMENT AND/OR SIGNATURE IS NOT AUTHENTIC What I like about the Federal Judge decisions is that they express the reasons for their orders and judgments with much greater specificity than State …
Wells Fargo Skewered by Federal Judge For Forgery as a Pattern of Conduct Read More »
For further information please call 954-495-9867 or 520-405-1688 ======================== see http://features.necir.org/pmi Insurers pay “losses” on mortgages and then pursue borrowers for recovery of payment A big area of confusion in the foreclosure cases is the impact of insurance claims and payments with respect to insured mortgages and insured mortgage bonds. So let’s start with the …
Insurers Pay Pretender Lenders and Then Pursue Homeowner for the "Loss" Read More »
