Archive for 'bubble' Category
40116426-DEUTSCHE-BANK-NATIONAL-TRUST-COMPANY-AS-TRUSTEE-NOTICE-TO-CERTIFICATE-HOLDERSForeclosure-Practice-Notice-10-25(2) It would be funny if it were not so disastrously tragic. This group of memos corroborates the information I heard on a telephone conference between the head of “asset acquisition” and the spokesperson for Deutsch as Trustee. To translate it into my native NY tongue. Fuhgetaboutit. (Okay, he said “this might be counter-intuitive.” Same […]
United States: FDIC Issues Final Safe Harbor Rule: Raises More Questions Than It Answers Editor’s Note: The clear implication here is (1) that these deals can be “unwound” and (2) that the FDIC thinks it can specify the circumstances under which it will be unwound. The safe harbor here might be a smoking gun announcement […]
Editor’s Note: Employers across the country are corroborating reports we have been getting for the last year — they can’t get qualified workers. Where are they? ANSWER: Stuck in a house they can’t get out of. A short-sale or modification would allow them to leave and go on with their lives. But around 1% of […]
The Obama administration needs to ensure that the taxpayers’ interests come first. Until now, the White House has focused far more energy on shoring up the banks — a stance that may have made sense in the thick of the financial crisis but is increasingly suspect now. October 26, 2010 The Mortgage Morass The mortgage […]
COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary why-the-paperwork-appears-sloppy why-short-sales-are-being-rejected Price declines are “geographically expanding,” with 78 out of the 100 largest metropolitan areas experiencing declines, CoreLogic said. That was up from 58 in July. Paul S. Willen, a senior economist at the Federal Reserve Bank of Boston, said Monday that the series […]
“The American people have a right for full and complete disclosure about their investment in A.I.G.,” Mr. Barofsky said, “and the U.S. government has an obligation, when they’re describing potential losses, to give complete information.” “If a private company filed information with the government that was just as misleading and disingenuous as what Treasury has […]
Editor’s Comment: The obvious enmeshment between government and Wall Street caused by the bailout and other “deals” that were supposedly necessary to maintain our finance structure and avoid 15% unemployment leads to moral hazard in the thinking of the leaders who are in office to protect us. Like the NY Times editorial said this morning, […]
Editor’s Note: This is no mere technicality. If the service is bad, so is the rest of the proceeding, unless service is waived. From Ann, and Courtesy of Matt Weidner DEFECTIVE SUMMON SERVICE PROCESS – FORECLOSURE LAWSUIT , SALES CAN BE VOID ————————————————————————- http://www.mattweidnerlaw.com/blog Defendants are Not Getting Notice / Due Process in Foreclosure Cases […]
Karl Denninger…Weekend Roundup: Foreclosuregate Status EDITOR’S NOTE: This probably applies to private student loans too. The government guarantee is a nullity if the participating member bank did not actually make the loan. Hence the student loan is dischargeable in bankruptcy or already paid in full. Think about it. Posted on October 23, 2010 by Foreclosureblues Posted […]
Talcott Franklin P.C. Issue Investors are the ostensible owners of securitization trusts, but these trusts are not always administered in a manner that is in the investors’ interests. In many cases, this is a result of conflicts of interest by the trust administrators. For example, in some cases: ¬Servicers and trustees have failed to pursue […]
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