By Donna Steenkamp Head of Research at Living lies/Defend the Foreclosure Few documents in foreclosure litigation are treated with more blind acceptance than a MERS assignment. That is a mistake. When a MERS assignment appears in the file, many homeowners assume it settles the transfer issue. Some lawyers treat it the same way. But a …
There is one question at the heart of nearly every foreclosure case, and most courts still do not ask it clearly enough: Who is the creditor? Not who is the servicer. Not who has possession of paper. Not who filed the foreclosure. The real question is this: who has the legal authority to verify the …
Our head of Research, Donna Steenkamp, was instrumental in doing the kind of research and documentation of evidence that reversed a bad lower court ruling
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 …
How "servicer advances" advance the false premise of securitization of loans. Read More »
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 …
REVERSE "MORTGAGES" ARE SUBJECT TO SAME DEFENSES AS ANY OTHER HOMEOWNER TRANSACTION Read More »
Frankly, I am frequently bewildered by the astonishment of people who should know better. Everything that I report on my blog is derived from actual concrete reliable data and information and previous legal proceedings in which there were administrative findings of fact and legal consequences. Some followers of my blog are well-intentioned but are married …
Black Knight fka Lender Processing Systems — Short memories can hurt you Read More »
The problem has always been how to present this counterintuitive reality to a judge who is convinced that securitization of a loan DID occur even though the transaction was not in fact a loan and no sale occurred. After decades of litigating and teaching litigation, the one common theme throughout my career has been the …
Sometimes the client figures it out better than the lawyer Read More »
[contact-form][contact-field label=”Name” type=”name” required=”true” /][contact-field label=”Email” type=”email” required=”true” /][contact-field label=”Website” type=”url” /][contact-field label=”Message” type=”textarea” /][/contact-form] Wall Street Transactions with Homeowners Are Not Loans * I think the biggest problem for people understanding the strategies that I have set forth on this blog is that they don’t understand the underlying principles. It simply is incomprehensible to …
How and Why to Litigate Foreclosure and Eviction Defenses Read More »
We now have an opportunity to attack the most absurd of the decisions on 2 grounds, to wit: The first is that the decisions are wrong based upon existing judicial doctrine, statutory law, and court precedent. The second is that the decisions are wrong because the justification for bending the law is also wrong. …
The problem with qui tam in connection with mortgages and foreclosures is that they have not yet worked except in rare instances. The biggest hurdle seems to be that the agency that supposedly got defrauded (e.g. FDIC) by false claims steps forward and says it was OK. You can’t force them to admit that they …
Qui Tam? Class Action? Mass joinder? Wrongful foreclosure? Read More »
Legal presumptions are not meant to be used as a means for achieving an illegal or unjust result. But they do exactly that when apparently facially valid documents are left unchallenged. A successful challenge to the credibility of the source of documents initially filed in foreclosure will end the case in favor of the homeowner. …
How to Challenge The Credibility of Documents Offered to Support Foreclosure Read More »
In order to maintain the illusion of legality and an orderly marketplace the banks and their servicers must continue to push foreclosures even if it means going after people who are not actually withholding payments. The legacy of the mortgage meltdown and the brainless government policies that let the banks get away with what they …
If you think foreclosures are a thing of the past, think again Read More »
By using the methods of magicians who distract the viewer from what is really happening the banks have managed to hoodwink even the victims and their lawyers into thinking that collection and foreclosure on “securitized” loans are real and proper. Nobody actually stops to ask whether the named claimant is actually going to receive the …
PTSD: A Breakdown of Securitization in the Real World Read More »
One of the fundamental cancers growing out of the “Securitization” craze is that it opened the door to financial scams of increasing diversity. The article below demonstrates one of those scams. None of this would be possible if it were not for the fact that “securitization” was and continues to be a scam as to …
Payment by third parties may not reduce the debt but it does increase the number of obligees (creditors). Hence in every one of these foreclosures, except for a minuscule portion, indispensable parties were left out and third parties were in reality getting the proceeds of liquidation from foreclosure sales. The explanations of securitization contained on the websites of …
Same Old Story: Paper Trail vs, Money Trail (Freddie Mac) Read More »
First quarter issuance doubled 2016’s total By Ben Lane at Housingwire.com S&P: Mortgage-backed security market making a comeback in 2017 Editor’s Note: Does anyone else seek stark similarities between what happened in 2007/08 and what is happening now? This is evidence that the housing bubble is complete. By now we know how this will play …
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 »
Mnuchin was and remains “the guy between the guys.” Billed as the organizer of OneWest his role was to provide a layer between the founders and the rest of the world. His prospective appointment As Secretary of the US Treasury means that the TBTF banks would have a lackey to do what the banks wanted …
Mnuchin as Treasury Secretary: Lackey for the TBTF Banks Read More »
The real question is when government agencies and regulators PLUS law enforcement get the real message: Wells Fargo’s behavior in the account scandal is the tip of the iceberg and important corroboration of what most of the country has been saying for years — their business model is based upon fraud. Wells Fargo has devolved …
The crux of this fight is that if the foreclosing parties are forced to identify the creditors they will only have two options, in my opinion: (a) commit perjury or (b) admit that they have no knowledge or access to the identity of the creditor Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or …
In short, the proffer of a document signed not by the grantor or assignor but by a person with limited authority and no knowledge, on behalf of a company claiming to be attorney in fact is an empty self-serving document that provides escape hatches in the event a court actually looks at the document. It …
Self Serving Fabrications: Watch for "Attorney in Fact" Read More »
The problem with all this is that the REMIC Trust never received the proceeds of sale of the MBS and therefore could not have paid for or purchased any loans. It had no assets. And THAT is why the Trust never shows up as a Holder in Due Course (HDC). HDC is a very strong …
ABSENCE OF CREDITOR: Breaking Down the Language Of The "Trust" Read More »
Everyone is reporting balance sheets with assets that derive their value on one single false premise: that the trusts that issued the original mortgage bonds owned the loans. They didn’t. SUPPORT LIVINGLIES! Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments. ======================== This article is not a substitute for an opinion and …
Why The Investors Are Not Screaming "Securities Fraud!" Read More »
As I have been writing and talking about the forced judicial sales, my opinion has always been that in most cases there is an absence of evidence that the party making the credit bid was in fact the creditor thus entitled to make a “credit bid” at the auction. The credit bid is an allowance …
"Credit Bid" Comes Under Scrutiny in 9th Circuit Read More »
