I received an email from one of my most prolific contributors that I am republishing here because virtually everything in it is entirely correct. I especially approve of her point about the fact that servicer advances are funded from proceeds of public offerings of stock that were all purchased by the Wall Street banks who …
Who is PennyMac and Why Was It Needed by Wall Street Banks? Read More »
It is simply not true and has not been true for 20 years that lending is subject to free market forces or that lenders are subject to regulation. all of this has resulted from extraordinary illegal Market Control which has resulted in the complete inability of small financial institutions to compete with lending practices sponsored …
Regulatory Capture and Monopoly of Residential Lending by Wall Street Read More »
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 …
The danger of submitting a hardship letter. See a lawyer!!! Read More »
Just assume that everything is a fiction and none of it is real. Then set out to create the inference against the use of key legal presumptions necessary for the foreclosure mill to establish a prima facie case. Those presumptions lead to conclusions that are contrary to facts in the real world. The answer is …
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 …
Want to know why this site is called LivingLies? Read on Homeowners often challenged the authority of the named claimant while skipping over the actual party who is supporting the claim — the alleged servicer. You might also want to challenge or at least question their authority to be a servicer. The fact that someone appointed them to …
Don't Admit Anything About the Servicers Either — It's All a Lie Read More »
Faced with a notice of foreclosure sale from a company claiming to be the trustee on a deed of trust, homeowners in judicial states are forced to defend using well known facts in the public domain that are not evidence in a court of law. This is particularly evident in scenarios like the Chase WAMU …
Chase-WAMU: Is it time to Declare Non Judicial Foreclosure Unconstitutional As Applied? Read More »
Until this decision I had assumed that Qui Tam actions were essentially dead in relation to the mortgage meltdown. Now I don’t think so. The question presented is whether actions brought by a private person acting as a relator on behalf of a government entity can bring claims for damages under the False Claims Act. …
If you are going to challenge a foreclosure or sue for wrongful foreclosure and fraud, you need to know what you are doing and know what your opposition has been doing. You also must know what to do about it because knowing is not enough. You need to convince a judge who starts from a …
Referring to the default as real, but with an explanation of how it is subject to rationalization or argument, completely undermines your argument that they have no right to be in court, to collect, to issue notices or initiate foreclosure. …when you refer to the default, you should refer to it as a false claim …
Proving that an instrument is unenforceable does not void the instrument unless it is unenforceable by anyone. Better to prove that it should never have been written. DONATE to LivingLies Let us help you plan for trial and draft your foreclosure defense strategy, discovery requests and defense narrative: 202-838-6345. Ask for a Consult or check us out …
Is that Mortgage or Deed of Trust Void or Just Unenforceable? Read More »
My personal take on this is that borrowers who receive this form for “forgiveness of debt” should probably send a letter or form of contest to the IRS stating the objection to the filing of the 1099-C. The objection or contest should state, in most cases, that this has been filed by a party who …
A recent request from an old client brought to mind the changes that have occurred, as in her case, since 2011 — more than 7 years ago. A quick review indicates that the facts were correct but the conclusions need tweaking. And the title record should be updated. Many new laws and case decisions have …
Older Forensic Title Analyses Need Updating — Even Ours Read More »
In cases where the CA foreclosure is being filed on behalf of the named Trustee (e.g., US Bank, Deutsch Bank etc.) for the certificates or the certificates holders — or where the it is ambiguous as to what or who the named trustee is asserted to be representing, there is a form demanding disclosure of …
The bottom line is that the loans themselves were fatally defective in terms of the loan documents. The money was delivered but not by the named “lender” nor anyone in privity with the named lender. At all times nearly all of the loans were in actuality involuntary direct loans from investors who had no knowledge …
U.S. Sues UBS for Fraudulent Sales of RMBS But Still Manages to Get It Wrong Read More »
There is no doubt in the minds of most serious trial lawyers who dig deep enough that homeowners can and should win all or most of the foreclosure cases. There is also little doubt that homeowners will lose by default or by inadequate presentation and well-founded attacks on the foreclosing party’s existence and ownership of …
Now that the courts are no longer in fear of precipitating an economic meltdown, it’s time to return to legal decisions instead of political decisions. The Hawaii Supreme Court has done just that in a common sense decision that sweeps aside most of the Wall Street arguments against allowing homeowners to raise the fraudulent foreclosure …
Mortgage foreclosure is the civil equivalent of the death penalty. in criminal cases. Many court decisions have enthusiastically supported that notion and attached much more stringent rules to the enforcement of a mortgage or deed of trust than they use in enforcement of a note. That is, until the last 20 years. If you begin …
STANDING: THE CRUX TO DEFENDING FALSE CLAIMS OF SECURITIZATION OF MORTGAGE LOANS Read More »
Basic Black Letter law: A debt can only be transferred by the owner of the debt. The owner of the debt may use agents or intermediaries to accomplish the transfer of the debt. If an intermediary executes a document of transfer without reference and identification of the owner of the debt, the document has potentially …
The answer is yes but the movement of the debt is often, all too often, presumed to have occurred. After more than a decade of research and analysis I find no support for the informal “doctrine” that the debt, note and mortgage can be used interchangeably. But the human inclination is to treat them the …
Does the Debt Need to Transfer with the Mortgage? Read More »
If you are dealing with a bias held by most judges the only effective way of dealing with it is to meet the challenge head-on. If you dance around it it looks like you are trying to “get off on a technicality.” Let us help you plan for trial and draft your foreclosure defense strategy, …
HAPPY NEW YEAR to readers who celebrate Rosh Hashanah! To all others, have a HAPPY DAY. This is a prescheduled article. ABOUT LIVINGLIES AND LENDINGLIES I have assembled a partial list of various possible claimants on the note and various possible claimants on the mortgage. Which one of these scenarios fits with your case? Once …
UCC Hierarchy of Rights to Enforce Note and Mortgage Read More »
Hat tip to anonymous tipster I have previously posted articles written by lawyers who researched and analyzed the TILA rescission statute 15 U.S.C. §1635 et seq. The bottom line is that they all have come to the same conclusions that I have after 12 years of study. The latest one brought to my attention was …
For those who are willing to do the work, events after the “sale” of the foreclosed property will probably reveal the puppets and at least point to the puppet-masters. As you investigate each named party leads to a dead end without any legal entity who is responsible for the actions taken. I have a client …
Tricks of the Trade: Banks' Playbook Behind the scenes Read More »
