The banks were not taking risks. They were making risks and profiting from them. Or another way of looking at it is that with their superior knowledge they were neither taking nor making risks; instead they were creating the illusion of risk when the outcome was virtually certain. Securitization as practiced by Wall Street and …
Can you really call it a loan when the money came from a thief? Read More »
For more information on foreclosure offense, expert witness consultations and foreclosure defense please call 954-495-9867 or 520-405-1688. We offer litigation support in all 50 states to attorneys. We refer new clients without a referral fee or co-counsel fee unless we are retained for litigation support. Bankruptcy lawyers take note: Don’t be too quick admit the …
Securitization for Lawyers: How it was Written by Wall Street Banks Read More »
Courts and lawyers are continually ignoring the obvious. By zeroing in on the NOTE, they are ignoring the documents that allow the person in possession of the note to be in court. That results in elimination of critical elements of a prima facie case in which the Defendant borrower lacks the superior knowledge and resources …
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 …
Click to tune TONITE in on The Neil Garfield Show Or call in at (347) 850-1260, 6pm Thursdays LET’S PROCEED STEP BY STEP. – Based upon actual documentation filed with the SEC 1. let’s assume that the mortgage is defective because it was not perfected. The note described a party who was not the creditor …
I was asked a question a few days ago that runs to the heart of the problem for the banks in enforcing false claims for foreclosure and false claims of losses that should really allocated to the investors so that the investor would get the benefits of those loss mitigation payments. This is the …
Since I entered the fray as the actual attorney for clients, we are getting down to the nitty gritty. Judges are surprised to learn that the foreclosure case in front of them was filed despite the payments actually received by the alleged creditor through third parties. In other words the case in front of them …
Despite the pronouncements by Eric Holder, the chief law enforcement officer of the United States, and the obvious reticence of the Securities and Exchange Commission, the vast majority of securities attorneys believe that the banks were (a) trading on inside information and (b) committing securities fraud when they funded and then traded on mortgages that …
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"Conversion" of the Note to a Bond Leaves Confusion in the Courts Read More »
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Bankers Using Foreclosure Judges to Force Investors into Bad Deals Read More »
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Like I said, the loans never made into the "pools" Read More »
MOST POPULAR ARTICLES CLICK HERE TO GET COMBO TITLE AND SECURITIZATION REPORT CUSTOMER SERVICE 520-405-1688 Editor’s Comment: We had an interesting exchange in a civil, almost charming meeting with the Arizona Secretary of State last night at Darrell Blomberg’s Tuesday night meeting. He has the AZ AG coming in a couple of weeks. One thing …
State and Federal Agencies Should Brace for Demands for Administrative Hearings Read More »
REGISTER NOW FOR DISCOVERY AND MOTION PRACTICE WORKSHOP 5/23-24 Editor’s Notes: These lawsuits from the SEC, the Class Action lawyers etc., are already producing fall-out — dozens of articles and production of secret emails etc. that can only help your case. Follow them closely as they will inevitably lead to admissible evidence of what you …
Discovery Hints: Goldman Sachs may not be the only firm in SEC cross hairs Read More »
FROM drhDe.u5a.htm This is both a HERS post and a general post for those seeking discovery of documentation. You can Google this information also. This is also what I am asking all of you to send in to me for posting. I’m backdating the HERS posts like this generally to February and March so as not …
REGISTER NOW FOR DISCOVERY AND MOTION PRACTICE WORKSHOP (2006) Here is a case that should not have been filed (entire text of opinion below) and was argued improperly. The homeowners clearly lost because they put their eggs in the wrong basket. Nonetheless, the opinion is a pretty good compilation of the various statutes, rules and …
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 …
Wells Fargo, Option One, American Home Mortgage Relationship Read More »
USE THIS AS A GUIDE FOR DISCOVERY, FORENSIC ANALYSIS AND MOTION PRACTICE TO COMPEL DISCLOSURE see for this example SHARPS%20CDO%20II_16.08.07_9347 Comments in Red: THIS IS A PARTIAL ANNOTATION OF THE PROSPECTUS. IF YOU WANT A FULL ANNOTATION OF THIS PROSPECTUS OR ANY OTHER YOU NEED AN EXPERT IN SECURITIZATION TO DO IT. THERE ARE THREE …
Discovery, Forensic Analysis and Motion Practice: The Prospectus Read More »
Here is a direct link to this particular “Trust”… http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001352650&owner=exclude&count=40 The PSA is contained within the 330 page Prospectus (424B5). I have not found any of the other relevant “Purchase Agreements” … This “Trust” has quit reporting to the SEC in 2007 yet is still actively providing monthly payments to the Investors according to the …
This RMBS “Trust” has quit reporting to the SEC in 2007 Read More »
