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The Logic of Wall Street "Securitization:" The transaction that never existed

30 Comments / AMGAR, CASES, Corruption, discovery, evidence, expert witness, Fannie MAe, foreclosure, foreclosure defenses, GTC | Honor, investment banking, Investor, MBS Trustee, Modification, Mortgage, Motion Practice and Discovery, Motions, originator, Pleading, securities fraud, Trust Beneficiaries, trustee / By

For more information on foreclosure offense and 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 loan exists nor that …

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LOCAL GOVERNMENTS UNDERWATER: TIME TO CORRECT PRINCIPAL BALANCES

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

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary We now have a growing group of unlikely bedfellows — investors, homeowners and local governments who were all duped and whose claims are being treated as though each one was unique when in fact the entire plan was a highly organized crime. Add the Federal …

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FRAUD IS THE CENTRAL PROBLEM

20 Comments / CASES, CDO, Corruption, Eviction, evidence, expert witness, foreclosure, foreclosure mill, foreign relations, GTC | Honor, HERS, investment banking, Modification, Mortgage, securities fraud, Servicer, trustee / By

It is hard to state this strongly enough. The entire mortgage backed securitization structure was based upon FRAUD. An intentional misstatement of a material fact known to be untrue and which the receiving party reasonably relies to his detriment is fraud. BOTH ends of this deal required fraud for completion. The investors had to believe …

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Magnetar Echoes Livinglies call for Alignment of Investors, Servicers and Borrowers

4 Comments / bubble, CASES, CDO, Corruption, credit unions, currency, Eviction, expert witness, foreclosure, foreclosure mill, Forensic Analysis Workshop, GTC | Honor, HERS, investment banking, Investor, Modification, Mortgage, Motion Practice and Discovery, securities fraud, Securitization Survey, Servicer, trustee, workshop / By

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 …

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Ghost Towns: 25 million more suburban homes by 2030 than are needed.

14 Comments / bubble, CDO, Corruption, currency, Eviction, expert witness, foreclosure, GTC | Honor, HERS, Investor, Mortgage, securities fraud / By

Editor’s Note: Put simply this crisis will still be ongoing in 20 years. When you add the student loans that were securitized and which were “non-dischargable” in bankruptcy because of the government guarantee of the “risk” (which never existed because the risk was sold before the loan was ever funded, hence the guarantee should not …

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Taking Aim at Bonuses based on $23.7 Trillion in Taxpayer Gifts

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

see bully-bonus-11-7-billion-jpm If they earned it, what business is it of ours or the government? On the other hand, if they stole it, why are they not in jail? If there is money for bonuses it is because of illusory (fake) profits from an illegal scheme that I would call fraudulent. If that is profit …

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