Archive for 'bubble' Category
EDITOR’S NOTE: THIS IS THE SAME WELLS FARGO WHO ON OCTOBER 20 TOOK A VERY “COMPETITIVE” STANCE INSISTING THERE WERE NO ERRORS. 7 DAYS LATER, OOPS! October 27, 2010 Wells Fargo to Amend About 55,000 Foreclosures By ERIC DASH After several weeks of insisting its foreclosure processes were sound, Wells Fargo & Company said on […]
Posted: 8:27 pm Tue, October 19, 2010 By Steve Lash Daily Record Legal Affairs Writer ANNAPOLIS — Maryland’s highest court on Tuesday approved an emergency rule designed to identify and weed out irregularities in the mortgage foreclosure process. The new rule, which takes effect immediately, allows circuit courts to appoint independent lawyers to review foreclosure […]
“It’s funny, when I finally lost the house, I started sleeping,” he said. “I cry sometimes, but at least I sleep now.” EDITOR’S NOTE: Somebody needs to get the message to Spanish victims of these mortgage frauds that they have remedies too. This is the same story with the same excuses. The message: we must […]
10.27.2010 KATHERINE PORTER SENATE testimony-102710-porter see also 10.27.10 OHIO AG ROBO AMICUS BRIEF ParmaForeclosureBrief Katherine Porter is a visiting law professor at Harvard. Her 2007 study was the seminal work on mortgage and foreclosure irregularities. She found that 40% of the notes had been “lost” or destroyed. The following is an excerpt from her testimony […]
10.27.10 JUDGE SCHACK ROBO DISMISSAL-Onewest-Bank-F-S-B-v-Drayton[1] With crushing clarity, Judge Shack in New York has made it crystal clear that the finesse of recording requirement for real property and splitting the note and mortgage won’t work under his watch. The quoted segments of testimony from a robo-signer shows criminal responsibility on the part of the robo-signor, […]
Editor’s Note: A good start, but without correction of the principal due to reflect reality, there is no major incentive for borrowers to do this. Eventually they will walk away. FDIC’s Bair Proposes ‘Global Solution’ to Foreclosure Mess By Peter Barnes Published October 26, 2010 | FOXBusiness One of the nation’s top bank regulators is proposing a […]
Editor’s Note: Because of the complexity of what should have been securitization of loans but wasn’t, and because nearly all the information is coming from government sources which is getting its information from Wall Street, articles are appearing all over the place like the one below in the Washington Times. It intersperses fact with fiction. […]
Jim Wilson/The New York Times Updated: Oct. 21, 2010 When the housing boom began to cool in 2006, that set in motion a chain of events that was a disaster for millions of homeowners whose property has been seized by lenders. The plummeting property values that both followed from and accelerated foreclosures helped create the […]
Editor’s Note: Simply explained, the shadow banking system arises when private companies issue money. That is what Wall Street has been doing since 1983 when the credit derivative market was zero. Now it is $600 trillion, which is 12 times the size of the real banking system. It’s easy to see how they control things. […]
Editor’s Note: This is an illusion caused by Wall Street. As long as fraudulent hang over the market, as long as consumers keep getting battered, as long as we pretend that those mortgages are real and not just some pawn in a larger scheme of fraud, we will see home prices weaken. who can buy […]
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