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How "servicer advances" advance the false premise of securitization of loans.

4 Comments / foreclosure / By

Since the times of ancient Greece and even before that, it has been a commonly used statement that before discussion of an issue each party should precisely define their terms. The obvious conclusion has been that without agreed definitions, it is highly probable that each side is talking about something different and making no point …

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Could IRS Enforcement of REMICs Bring Wall Street Into Line? Yes but they won't do it. Investors and homeowners continue to suffer as victims of fraud.

3 Comments / Bailout, Corruption, discovery, Discovery -Subpoena, evidence, expert witness, Fabrication of documents, FDIC, foreclosure, foreclosure defenses, forensic investigation, investment banking, Investor, jurisdiction, legal standing, originator, Pleading, Presumptions, prima facie case, securities fraud, Servicer, sham transactions, TRIAL OBJECTIONS, trial strategy, trustee, Unlawful Detainer / By

The most obvious places to look for correction in the illegal conspiracies masquerading as securitization of residential debt were the IRS , the SEC, the FDIC and the FTC and probably later the CFPB. Qui tam (whistleblower) actions were regularly dismissed because the agency that lost money due to false claims rejected the notion that …

Could IRS Enforcement of REMICs Bring Wall Street Into Line? Yes but they won't do it. Investors and homeowners continue to suffer as victims of fraud. Read More »

The Facts Behind Smoke and Mirrors

2 Comments / burden of persuasion, burden of pleading, BURDEN OF PROOF, Corruption, discovery, Discovery -Subpoena, evidence, Fabrication of documents, foreclosure, foreclosure defenses, foreclosure mill, forensic investigation, investment banking, Investor, legal standing, Modification, Mortgage, originator, Pleading, Servicer, TILA, TILA rescission, TRIAL OBJECTIONS, trial strategy / By

Nearly everyone is confused as to the identity of the real holder in due course, or the “creditor,” or the owner of the debt. Nearly everyone thinks that ultimate it is investors who purchased certificates. In fact there is no holder in due course and there never will be in most instances. There was never …

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Servicer Advances: More Smoke and Mirrors

86 Comments / AMGAR, Corruption, escrow agent, evidence, expert witness, foreclosure, foreclosure defenses, foreclosure mill, GARFIELD KELLEY AND WHITE, GTC | Honor, investment banking, Investor, MBS Trustee, Modification, Mortgage, Motions, Servicer, Trust Beneficiaries, trustee / By

Several people are issuing statements about servicer advances, now that they are known. They fall into the category of payments made to the creditor-investors, which means that the creditor on the original loan, or its successor is getting paid regardless of whether the borrower has paid or not. The Steinberger decision in Arizona and other …

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Who Has the Power to Execute a Satisfaction and Release of Mortgage?

77 Comments / AMGAR, Corruption, evidence, expert witness, foreclosure, foreclosure defenses, GARFIELD KELLEY AND WHITE, GTC | Honor, investment banking, Investor, MBS Trustee, Modification, Mortgage, Pleading, securities fraud, Servicer, Statutes, Trust Beneficiaries, trustee / By

 The answer to that question is that probably nobody has the right to execute a satisfaction of mortgage. That is why the mortgage deed needs to be nullified. In the typical situation the money was taken from investors and instead of using it to fund the REMIC trust, the broker-dealer used it as their own …

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Prommis Holdings LLC Files for Bankruptcy Protection

70 Comments / bubble, CDO, Corruption, currency, Eviction, foreclosure, GARFIELD GWALTNEY KELLEY AND WHITE, GTC | Honor, Investor, Mortgage, securities fraud / By

I have not followed Prommis Holdings closely but I can recall that some people have sent in reports that Prommis was the named creditor in some foreclosure proceedings. The reason I am posting this is because the bankruptcy filings including the statement of affairs will probably give some important clues to the real money story …

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Another Ruse: Realtors Gleeful over Equator Short Sale Platform

26 Comments / foreclosure / By

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Colorado Moves Forward with Legislation to Prevent Fraudulent Foreclosures

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

MOST POPULAR ARTICLES CLICK HERE TO GET COMBO TITLE AND SECURITIZATION REPORT CUSTOMER SERVICE 520-405-1688 Editor’s Comment:  Once upon a time it was a simple thing. If you sued someone, you had to say why, plead facts that supported the relief you wanted, and then demand the relief. Today it is considered nearly revolutionary to …

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Wells Fargo, Option One, American Home Mortgage Relationship

49 Comments / bubble, CDO, Corruption, Eviction, expert witness, foreclosure, foreclosure mill, GTC | Honor, HERS, Investor, Mortgage, securities fraud, Servicer / By

Wells Fargo Bank, N.A. appears in many ways including as servicer (America Servicing Company), Trustee (although it does not appear to be qualified as a “Trust Company”), as claimed beneficiary, as Payee on the note, as beneficiary under the title policy, as beneficiary under the property and liability insurance, and it may have in actuality …

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