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REVERSE "MORTGAGES" ARE SUBJECT TO SAME DEFENSES AS ANY OTHER HOMEOWNER TRANSACTION

1 Comment / foreclosure / By

CLICK HERE FOR FREE WEBINAR ON FRIDAY 4PM * I am getting a lot more inquiries about reverse mortgages in which Foreclosure is threatened. That’s far, there appears to be no difference in the challenges and offenses available to homeowner homeowners between what is ordinarily falsely described as a “conventional Loan” and a “reverse mortgage …

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Those letters from the lawyer for the "servicer": PHH

9 Comments / Corruption, discovery, Discovery -Subpoena, Fabrication of documents, foreclosure, foreclosure mill, hearsay, investment banking, legal standing, Presumptions, Servicer, sham transactions, TRIAL OBJECTIONS, trial strategy / By

It is true that someone will execute a release of the lien. What is not true is that they have any authority to do so — nor is it true that PHH has any right to receive any money, whether it is a monthly payment or a payoff. In fact it is not true that …

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Modifications Are Part of the Big Lie: Don't send that application for modification if you don't want to waive important rights.

5 Comments / foreclosure, Modification, Mortgage, sham transactions, standing / By

The application for modification licenses New Rez aka PHH aka Ocwen to sell, distribute the personal data and transaction data to third parties. Besides the obvious problems with data privacy, this confirms the apparent voluntary participation of the homeowner in a securities scheme that was and still is concealed from the homeowner. By filing the …

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WHAT IS A SERVICER ADVANCE? According to Ocwen it has zero credit risk and is not really an advance

2 Comments / Corruption, Fabrication of documents, Judicial notice, Presumptions, prima facie case, SEC, securities fraud, Servicer, sham transactions, TRIAL OBJECTIONS / By

One place where securitization players and foreclosure players don’t lie is in reports that are formally filed with the SEC. So in my research, I found a document in which Ocwen describes itself and which is subject to judicial notice because it is a government document downloaded from the Sec.gov website. The filing of 8k …

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You might not know VendorScape but it sure knows you

Leave a Comment / boarding process, burden of persuasion, burden of pleading, BURDEN OF PROOF, Corruption, discovery, Discovery -Subpoena, evidence, foreclosure defenses, hearsay, investment banking, Pleading, securities fraud, Servicer, sham transactions, standing, TRIAL OBJECTIONS / By

In a somewhat startling admission by CoreLogic, we now have an admission of many facts that might not have otherwise surfaced but for intensive and aggressive, persistent Discovery. I am not publishing the entire letter from them for privacy reasons. But it is worth mentioning that the letter was sent, after careful legal analysis, as …

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Processing Fees are more than illegal — by adding them to balance due, the default letter is defective.

2 Comments / boarding process, Corruption, discovery, Discovery -Subpoena, Fabrication of documents, foreclosure, foreclosure defenses, forgery, investment banking, Investor, prima facie case, securities fraud, Servicer, sham transactions, standing, TRIAL OBJECTIONS, trial strategy / By

This is simple logic. If illegal processing fees were greedily added to the “loan accounts” falsely asserted to exist, then the amount demanded from “borrowers” was incorrect. That would make the statements sent to borrowers part of a fraudulent scheme through US Mails which would be mail fraud. And it would make the notices of …

Processing Fees are more than illegal — by adding them to balance due, the default letter is defective. Read More »

PennyMac and Other Companies are Making False Claims as "Servicers": Black Knight, the king of fabricated documents is behind 62% of all "servicing records."

8 Comments / boarding process, burden of pleading, BURDEN OF PROOF, Corruption, discovery, Discovery -Subpoena, evidence, Fabrication of documents, foreclosure, foreclosure defenses, forensic investigation, forgery, hearsay, investment banking, jurisdiction, legal standing, Mortgage, Motion Practice and Discovery, Pleading, Presumptions, prima facie case, Servicer, sham transactions, standing / By

The bottom line is that companies claiming to be servicers are not servicers although they perform some servicing functions as “clients” of Black Knight. This provides a veil of plausible deniability for lying in court about testimony and documents. Hiding behind litigation immunity foreclosures are being pursued and granted resulting in windfall payments to intermediaries …

PennyMac and Other Companies are Making False Claims as "Servicers": Black Knight, the king of fabricated documents is behind 62% of all "servicing records." Read More »

The danger of submitting a hardship letter. See a lawyer!!!

3 Comments / BURDEN OF PROOF, Corruption, evidence, foreclosure, foreclosure mill, prima facie case, Servicer / By

It is strongly advised by most attorneys that when submitting any statement or reply to any company posing as a mortgage servicer or lender that where it is appropropriate to do so you should state that you are making the statement for purposes of compromise and settlement only and not for use in court, trial …

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Ocwen Stock Is Riskier Than Investors Know

10 Comments / Corruption, discovery, evidence, foreclosure, investment banking, Investor, Modification, Mortgage, Servicer, sham transactions / By

the truth is there for anyone who wants to see it, which means that the entire prospect for Ocwen is that of an actor with only one foot on the edge of a cliff. This article represents the analysis and opinion of the writer. Take no action with consulting a legal and financial adviser.  The …

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Tonight! Why the Bankruptcies of DiTech and Aurora Matters! Neil Garfield Show 6PM EDT

1 Comment / evidence, Fabrication of documents, foreclosure, forensic investigation, investment banking, legal standing, sham transactions, standing, trial strategy / By

Thursdays LIVE! The Neil Garfield Show — WEST COAST with CHARLES MARSHALL AND BILL PAATALO or prior episodes Or call in at (347) 850-1260, 6pm Eastern Thursdays ******************************* I get that the complexity of securitization and foreclosure litigation can be mind-numbing even to an experienced litigator. But once you start winning you get a rush. Tonight we …

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Homeowners Sue SPS in Class Action Over Failure to Mitigate

11 Comments / AMGAR, CASES, Corruption, discovery, Discovery -Subpoena, evidence, Fabrication of documents, foreclosure, Investor, legal standing, MBS Trustee, Modification, Servicer, trial strategy / By

Thousands of cases like this one have pointed out that SPS and other servicers like Ocwen do not consult with any investor, do not evaluate the case for settlement, modification or mitigation. The answer to questions arising from the unwillingness of those companies to comply with law stems from the fact that the  vast majority …

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Ocwen Failing? Who cares — they don't do the "Servicing" anyway

5 Comments / boarding process, Corruption, discovery, Discovery -Subpoena, evidence, Fabrication of documents, foreclosure, Servicer, TRIAL OBJECTIONS / By

It’s only when you do the work — burrowing into all the data that the truth emerges. From many prior cases it has been obvious that the “boarding process” was a ruse. It was cover for the real parties who were manipulating data to suit their own needs contrary to their duties to the alleged …

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No Surprise: Ocwen & US Bank Hit by $3.8 Million Verdict in Chicago Federal Trial For Violations in Fake Foreclosure

23 Comments / boarding process, CASES, Corruption, Fabrication of documents, foreclosure, Mortgage, Motions, Servicer, sham transactions / By

“The jury, after deliberating for approximately 7 hours, determined that Ocwen breached its contract, violated RESPA for failing to adequately respond to Saccameno’s Qualified Written Request, violated the FDCPA and committed both unfair and deceptive acts in violation of the Illinois Consumer Fraud Act.  Monette Saccameno was awarded $500,000.00 in compensatory damages, $70,000.00 in non-economic damages, $12,000.00 in economic damages and $3,000,000.00 in …

No Surprise: Ocwen & US Bank Hit by $3.8 Million Verdict in Chicago Federal Trial For Violations in Fake Foreclosure Read More »

Bank Fraud News: The reason why banks and servicers should receive no presumption of reliability

13 Comments / Corruption, currency, foreclosure, TILA / By

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 …

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Ocwen Admission Confounds Judges and Experts

12 Comments / boarding process, burden of persuasion, BURDEN OF PROOF, CASES, Corruption, discovery, evidence, expert witness, foreclosure, foreclosure mill, legal standing, MBS Trustee, Modification, Mortgage, politics, Servicer, Trail Objections / By

This is a blatant attempt at deception  — a deceit without which none of the Trusts would be recognized as legal entities much less the owner of loans. Ocwen is admitting that there is no single owner of the loan it is allegedly “servicing.” “There is no single owner of the account, but rather the …

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Illusion of Confusion: Dealing with Unresponsive "Responses" in Discovery

10 Comments / Corruption, discovery, Eviction, evidence, foreclosure, GTC | Honor, legal standing, Mortgage, Motions, Servicer / By

The bank playbook is very simple: keep it as complicated as possible. That way the court and even the homeowner will come to rely on what the banks and so-called servicer say about names, places, documents and money. That’s how they sold the initial fraudulent MBS and around 10 million foreclosures. If you had a …

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Ocwen Boarding Process Was Shot Down Last Year

6 Comments / boarding process, foreclosure, hearsay, legal standing, standing / By

As foreclosure defense lawyers have been saying for years, the Ocwen Boarding process is a sham. “This boarding process is a legal fiction, and it means something different to every entity,” Butchko ruled from the bench during a March 17 hearing. Ocwen does not verify any of the data. It downloads it and then “calls it …

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Ocwen to Shell Out $56 Million in Class-Action Settlement

9 Comments / foreclosure / By

Ocwen to Shell Out $56 Million in Class-Action Settlement July 20th, 2017  |  by Alex Spanko Ocwen Financial Corporation (NYSE: OCN) on Thursday announced that has reached a $56 million settlement over a federal class-action lawsuit, the latest in a line of issues for the troubled servicer. The lawsuit stemmed from alleged problems with restatements …

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NO TRUST ASSETS: In the eye of the storm

9 Comments / foreclosure / By

This is one more nail in the coffin of false securitization: the only assets attributed to apparent “Buyers” were those related to and including servicer advances. By severing the investors from their positions as creditors, the banks were able to create the illusion that they — or their “originators”, brokers, nominees, fronts and sham operators …

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US Bank v Mattos: Ocwen's Witness unable to collaborate U.S. Bank's Records

7 Comments / foreclosure / By

Thanks to Investigator Bill Paatalo of BP Investigative Agency for the heads up on this case.  Furthermore if you are suing U.S. Bank please note that THERE ARE NO RECORDS KEPT BY US BANK OF ANY KIND other than receipt of a monthly fee.  Bill Paatalo will be dropping a bombshell on these findings in …

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Bloomberg Law: Ocwen Loses Bid for Early Test of CFPB’s Constitutionality

6 Comments / foreclosure / By

Ocwen Loses Bid for Early Test of CFPB’s Constitutionality https://www.bna.com/ocwen-loses-bid-n73014451876/ REQUEST A TRIAL From Bloomberg Law: Banking By Chris Bruce A federal judge June 2 blocked Ocwen Financial Corp.’s bid to test the constitutionality of the Consumer Financial Protection Bureau in the early stage of a closely watched enforcement case ( Cons. Fin. Protection Bureau …

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Ocwen accuses California settlement monitor of fraudulent strip club, casino expenses

8 Comments / foreclosure / By

Claims Fidelity Information Services engaged in ‘fraudulent, abusive billing scheme’ May 30, 2017 Ben Lane Fidelity Information Services perpetrated a “fraudulent and abusive billing scheme” and engaged in gross dereliction of duty in its role as the independent monitor of Ocwen Financial’s 2015 settlement with the state of California, Ocwen said in a bombshell lawsuit …

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Here's a detailed breakdown of Ocwen's new restrictions by state

8 Comments / foreclosure / By

A deeper dive reveals what Ocwen can and can’t do going forward April 21, 2017 Ben Lane http://www.housingwire.com/articles/39932-heres-a-detailed-breakdown-of-ocwens-new-restrictions-by-state The servicing issues at Ocwen Financial are allegedly so widespread that some states are placing stricter restrictions on the nonbank, beyond freezing the company’s ability to acquire new mortgage servicing rights. On Thursday, a group of state …

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