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GRETCHEN MORGENSON

NYTimes Gretchen Morgenson: Wells Fargo accused of making improper changes to Mortgages

2 Comments / foreclosure / By

Editor’s Note: Wells Fargo is a lawless operation that exploits unsuspecting consumers by opening accounts in their name without permission, and modifying and foreclosing on homes it doesn’t own with fabricated notes and fraudulent documents.   Not to mention participating in identity theft and accessing credit reports without authorization. Meanwhile, for the most part, Wells …

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Gretchen Morgensen: A Whistle was Blown, but Who was Listening?

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The Securities and Exchange Commission calls itself the whistle-blower’s advocate. But one participant in the agency’s lauded whistle-blower program isn’t so sure. He is Michael J. Lutz, an accounting specialist who raised his hand in early 2013 when he was at Radian Group, the giant mortgage insurer. At the time, Radian was still weathering the …

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CHAIN OF NOTHING: Wells Fargo Fraud Is Causing the Curtain to Fall Revealing Fraud in Foreclosures and Ultimately Mortgage Bonds

13 Comments / foreclosure / By

“Defendant Wells Fargo’s deceptive and intentional conduct displayed a complete and total disregard for the rights” of the couple, wrote Judge Elliott, a circuit judge in the 43rd Judicial District of Missouri. “Wells Fargo took its money and moved on, with complete disregard to the human damage left in its wake.” see http://www.nytimes.com/2016/09/22/business/in-wells-fargos-bogus-accounts-echoes-of-foreclosure-abuses.html?_r=0 Gretchen Morgenson …

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Gretchen Morgenson: In Wells Fargo’s Bogus Accounts, Echoes of Foreclosure Abuses

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John Stumpf, the chairman and chief executive of Wells Fargo, won a dubious achievement award from one of his interrogators during Tuesday’s scorching hearings on Capitol Hill. The bank’s yearslong practice of opening bogus accounts for customers and charging fees to do so, said Senator Jon Tester, Democrat of Montana, had united the Senate Banking …

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People Who Were Wrong Are the Winners — SO FAR

15 Comments / AMGAR, education, escrow agent, foreclosure, Occupy Movement, Title / By

First of all I don’t think Geithner caused the financial crisis. He certainly contributed to it but it probably would have happened even if he had not undercut Sheila Bair at every opportunity; and yes he should have listened to other people who were saying that the corruption on Wall Street had reached epic proportions. …

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More Lawsuits, Still No Real Progress and No Coverage by Media

112 Comments / CASES, CDO, Corruption, evidence, expert witness, Fannie MAe, foreclosure, foreclosure mill, GARFIELD KELLEY AND WHITE, investment banking, Investor, Modification, Mortgage, Motions, Pleading, securities fraud, Servicer, Statutes, Trust Beneficiaries, trustee / By

Jon Stewart committed his entire show to the mortgage crisis last Wednesday night. Go watch it. It wasn’t funny although they added some comedic aspects. The bottom line is the question “why aren’t these people in jail?” And the media was scorched with the fact that despite a constant culture of continuing corruption and absurd …

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Gretchen Morgenson: Tide Turning as Judges Get Irritated by Bank and Lawyer Behavior

46 Comments / CDO, Corruption, evidence, foreclosure, foreclosure mill, GARFIELD GWALTNEY KELLEY AND WHITE, investment banking, Investor, Modification, Mortgage, Motions, Pleading, securities fraud, Servicer, Statutes / By

“Two recent rulings — one in New York involving Bank of America and one in Massachusetts involving Wells Fargo — serve as examples. In the Wells Fargo case, a ruling on Sept. 17 by Judge William G. Young of Federal District Court was especially stinging. In it, he required Wells Fargo to provide him with …

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Trustees on REMICs Face a World of Hurt

88 Comments / CDO, Corruption, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

DID YOU EVER WONDER WHY TRUSTEES INSTRUCTED THE INVESTMENT BANKS TO NOT USE THEIR NAME IN FORECLOSURES? Editor’s Comment: Finally the questions are spreading over the entire map of the false securitization of loans and the diversion of money, securities and property from investors and homeowners. Read the article below, and see if you smell …

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Appraisal Fraud: Triaxx Inching Toward the Truth

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

Editor’s Comment: At the heart of the entire scam called securitization was the abandonment — in fact the avoidance of repayment of the loans. The idea was to make bigger and bigger loans without due any evidence of due diligence, so that the “lender” could claim plausible deniability and more importantly, make a claim for …

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DELAY Is the Name of the Game

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

Featured Products and Services by The Garfield Firm NEW! 1/2 Day CLE Workshop for Paralegals and Lawyers with Neil Garfield: Building a case book for each client that saves time rather than takes time. NEW! 2nd Edition Paralegal-Attorney Workbook,Treatise & Practice Manual ——–>SEE TABLE OF CONTENTS: WHOSE LIEN IS IT ANYWAY TOC LivingLies Membership – …

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GRETCHEN MORGENSON ON CNN TONIGHT WITH SPITZER

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

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE Her new book “Reckless Endangerment” is a good read. Gretchen was amongst the first to drill down on the mortgage meltdown and expose numerous illegal practices of lenders and foreclosers (different parties, as we know). In many ways she has led the way for other journalists …

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ANATOMY OF INTENT: WHY MORE THAN 800 PEOPLE COULD BE CHARGED WITH CRIMINAL INTENT

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

GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE In the S&L scandals more than 800 bankers went to jail, why not now? EDITOR’S ANALYSIS: As you read the article below regarding NovaStar Financial, think about buying the book it came from. Gretchen and Joshua have spent a lot of time not just taking notes …

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GRETCHEN MORGENSON: BORROWERS ARE NOT TO BLAME

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

CLE SEMINAR: SECURITIZATION WORKSHOP FOR ATTORNEYS — REGISTER NOW SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM LOUISIANA BKR JUDGE STOPS FORECLOSURE ON BORROWERS CURRENT IN PAYMENTS EDITOR’S NOTE: The tide keeps turning in the direction of borrowers’ rights yet the scam continues. All three branches of government — executive, legislative and judicial are rapidly coming to …

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THE NEW NINJA: NO INDICTMENT, NO JAIL, AMNESTY FOR TOP WALL STREET FIGURES

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

CLE SEMINAR: SECURITIZATION WORKSHOP FOR ATTORNEYS — REGISTER NOW SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM “…several years after the financial crisis, which was caused in large part by reckless lending and excessive risk taking by major financial institutions, no senior executives have been charged or imprisoned, and a collective government effort has not emerged. This …

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NY Issues More Subpoenas on Foreclosures

18 Comments / foreclosure / By

SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM “Raymond H. Brescia, assistant professor of law at Albany Law School, said: “We’re seeing a disproportionate number of cases in the foreclosure context where questionable filings have been made. I think it’s easy to say this is the largest and most wide-ranging fraud against the courts in the United …

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WALL STREET EXECS: NOTHING TO LOSE, EVERYTHING TO GAIN, WIN OR LOSE

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

SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM GET COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ LAWYERS CONSIDER NAMING INDIVIDUAL EXECUTIVES AS DEFENDANTS IN DAMAGE SUITS FOR HOMEOWNERS “the Federal Reserve purchased almost all the mortgage securities issued by Fannie and Freddie in 2009.” EDITORIAL COMMENT: Has anybody asked exactly what Fannie, Freddie and Ginny …

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NYT: American Real Estate Market an Engrossing Piece of Fiction

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

COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ see 10-lies-we-live-by-and-should-stop-believing-if-we-want-this-to-stop NOTABLE QUOTES: “Alan M. White, a law professor at the Valparaiso University School of Law in Indiana, last year matched MERS’s ownership records against those in the public domain. “The results were not encouraging. “Fewer than 30 percent of the mortgages had an accurate …

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PAYBACK TIME: $5.1 IN PUNITIVE DAMAGES AGAINST SERVICER ON A $79K CASE

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

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary “In short, loan servicing is a perfect setup for administrators who want to take advantage of both borrowers and lenders.” (Editor’s Note: Notice that the investors are referred to as lenders, hence the term “pretender lender” as to all others pretending to be lenders.) “The …

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FRONT PAGE FORGERY — NY TIMES

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

SERVICES YOU NEED “Linda M. Tirelli, a lawyer in White Plains who represents Ms. Nuer in the case against Chase. “This is not about getting a free house for my client. It’s about a level playing field. If I submitted false documents like this to the court, I’d have my license handed to me.” “Judges …

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Ratings, Appraisal Fraud Unraveling: Testimony Reveals Cover-up

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

SERVICES YOU NEED “According to testimony last week, from January 2006 to June 2007, Clayton reviewed 911,000 loans for 23 investment or commercial banks, including Citigroup, Deutsche Bank, Goldman Sachs, UBS, Merrill Lynch, Bear Stearns and Morgan Stanley.” It’s like slapping some paint on a 30 year old Chevy and selling it as a Rolls …

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POLITICS IN THE FALL: REPR BRAD MILLER

35 Comments / bubble, CDO, Corruption, Eviction, evidence, expert witness, foreclosure, foreclosure mill, GTC | Honor, HERS, investment banking, Investor, Modification, Mortgage, Pleading, Servicer, Statutes, trustee / By

EDITOR’S NOTE: I don’t know Brad Miller bradmiller.house.gov but I’m sending him a donation. Gretchen Morgenson says he’s worth getting to know and I am going to do just that. He’s running for re-election in North Carolina, and except for a scant few other members of Congress, he is one of the few that has actually …

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INVESTORS SUE FOR INFLATED HOME APPRAISALS, WHY DON'T YOU?

24 Comments / bubble, CASES, CDO, Corruption, Eviction, evidence, expert witness, foreclosure, foreclosure mill, GTC | Honor, HERS, investment banking, Investor, Modification, Mortgage, Motions, Pleading, securities fraud, Servicer, Statutes, trustee / By

The model concluded that roughly one-third of the loans were for amounts that were 105 percent or more of the underlying property’s value. Roughly 5.5 percent of the loans in the pools had appraisals that were lower than they should have been. In one pool with 3,543 loans, for example, the CoreLogic model had enough …

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Finally, Borrowers Score Points

11 Comments / bubble, CASES, Corruption, Eviction, evidence, expert witness, Fannie MAe, foreclosure, foreclosure mill, Forensic Analysis Workshop, GTC | Honor, HERS, investment banking, Investor, Modification, Mortgage, Motion Practice and Discovery, Motions, Pleading, Securitization Survey, Servicer, trustee, workshop / By

“The court certainly agrees that ‘mistakes happen,’ ” Judge Bohm wrote. “However, when mistakes happen not once, not twice, but repeatedly, and when actions are not taken to correct these mistakes within a reasonable period of time, the failure to right the wrong — particularly when the basis for the problem is a months-long violation of …

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