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 …
In answer to questions frequently asked of me, the term “dark pool” was not coined by me nor was it discovered by me as an instrumentality of obscuring financial transactions. I have understood the workings of dark pools since my Wall Street days. But back then, in the 1960’s and 1970’s they were not so …
DARK POOLS OF SECURITIES AND MONEY FUNDED MORTGAGE LOANS Read More »
Zerohedge.com notes that JP Morgan has cornered the market in gold derivatives. They ask how the CFTC, who supposedly regulates the commodities markets could have let this happen. I ask some deeper questions. If JPM has cornered the market on those derivatives, is this a reflection that they, perhaps in combination with others, have cornered …
JP Morgan Corners Gold Market — where did they get the money? Read More »
World Savings Bank was acquired by Wachovia Bank which in turn was acquired by Wells Fargo. We have previously reported here that we had no information regarding the actual securitization of loans had been originated by World Savings Bank. Now we have that information. And in a case of the right hand not aware of …
World Savings Bank Loans Were Securitized Before Wachovia Merger Read More »
FOR REPRESENTATION IN OHIO CALL OUR CUSTOMER SERVICE NUMBER 520-405-1688. Click Now to Consult with Neil Garfield In a well-reasoned and well-written opinion, the Supreme Court of the State of Ohio analyzed the questions of standing and real party in interest — two doctrines that are all too often used interchangeably. They lead to different …
Ohio S. Ct: Standing is jurisdictional at the beginning of the foreclosure Read More »
MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE Fontes-MEMO-9th Ciruit BAP – Judge Jury a Member of the Panel The collateral benefit MUST go solely to the homeowner. If the creditor chooses not to exercise any right or intention to collect, it is not a license for ANYONE to come in …
9th Circuit BAP: HSBC, ASC Not Real Party In Interest, No Standing, MERS Has No Interest Read More »
SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM EDITOR’S NOTE: Finding that lawyers and judges are confused about the meaning and use of terms like “real party in interest” and “standing,” it hardly comes as a surprise that pro se litigants and other homeowners are confused as well. These concepts, which have been used and abused for …
CIVIL PROCEDURE: REAL PARTY IN INTEREST EXPLAINED Read More »
Our good friend “Anonymous” has piped up with more vital information and expressed it more succinctly than I did. “The senior tranches have largely already been paid and closed. Since the junior tranches are paid only if there is left over current payment – after the senior tranches have been paid. Thus, junior tranches are …
Therefore they cannot convey any interest in a note, mortgage, debt or obligation since they expressly do not own it and in fact openly disclaim it. And stating the obvious the decision says that that note is payable to a specific payee. It must therefore be endorsed by that payee for it to be transferred. …
Editor’s Note: While the courts hear arguments and decide this way and that about standing and real party in interest, the elephant in the living room is that we have highly publicized reports of LOSSES associated with more than $5 trillion in loans bought or guaranteed by Fannie and Freddie. That amounts to around 25 …
What Do Those Losses at Fannie and Freddie Mean? Read More »
The true answer is that securitization is a process that is still on going and not an event.The Real Party in Interest (and the real amount of principal due, if any) is in a state of flux hidden by obscure, hidden or “confidential documentation.” Don’t make it your problem to unravel it. Use your strength …
Shack; JPM, Trustee Lacks Standing, Vacates Foreclosure Read More »
GMAC has failed to demonstrate that it is the holder of the Note because, while it was in possession of the Note at the evidentiary hearing, it failed to demonstrate that the Note is properly payable to GMAC Once the securities have been sold, the SPV is not actively involved. IN RE WEISBAND In re: …
why-you-should-attend-the-discovery-and-motion-practice-workshop VISIT LIVINGLIES STORE FOR FREE VIDEOS AND OTHER RESOURCES START WINNING CASES!! May 23-24, 2010 2 days. 9am-5pm. Neil F Garfield. CLE credits pending but not promised. Register Now. Seating limited to 18. INCLUDES LUNCH AND EXTENSIVE MANUAL OF FORMS, NARRATIVE AND CASES. An in-depth look at securitized residential mortgages and deeds of trust. …
see Magnetar%20Mortage%20Recovery%20Backstop%20Whitepaper%20Jun09.pdf Magnetar Mortage Recovery Backstop Whitepaper Jun09 Two things jump out at me with this paper from June, 2009. First it is obvious that the “real money” investors are defined as those seeking low risk and willing to take lower yield. The fact that they are called “Real Money Investors” underscores my point about …
Magnetar Echoes Livinglies call for Alignment of Investors, Servicers and Borrowers Read More »
From Max Gardner – QUIET TITLE GRANTED Bellistri v Ocwen Loan Servicing, Mo App.20100309 Mortgage Declared Unenforceable in DOT Case: NOTE DECLARED UNSECURED “When MERS assigned the note to Ocwen, the note became unsecured and the deed of trust became worthless” Editor’s Note: We know that MERS is named as nominee as beneficiary. We know …
More and more authorities are holding that in order for a claimant to prove itself to be the real party in interest to support a proof of claim or motion for relief from stay in bankruptcy, as well as to prove itself to be a holder in due course, they have to prove the entire …
see 2010-ohio-542 After-acquired interest not good BONY v Gendele Significant Excerpts: By the way this is why we need title and escrow agents to act as experts or forensic analysts. A simple title chain analysis reveals the defect and now Trial Judges in Ohio have a rule to follow. Will the real party in interest …
Ohio Appeals Court Bangs BONY For Not Owning the Loan Read More »
