Archive for 'bubble' Category
SERVICES YOU NEED Somebody get me the complaint so I can post it here. Editor’s Note: AMBAC is one of the insurers of loan portfolios, like AIG. The insurance paid off when the Master Servicer declared the portfolio had “failed,” based upon standards that were set by the Master Servicer and Underwriter. The insurer had […]
SERVICES YOU NEED J.P. Morgan Chase freezes 56,000 foreclosures — Washington Post J.P. Morgan Chase issued a freeze on 56,000 foreclosures on Wednesday, acknowledging that some employees may have signed off on documents submitted in support of them without proper review. Chase spokesman Tom Kelly said the company has requested that the courts not enter […]
SERVICES YOU NEED “Here is a simpler explanation: the financial services industry is throwing more paper at the system than it can handle. So they are getting away with “representations” rather than solid evidence and proof. If Judges would require at least a copy of the title report, this case would not have occurred — […]
SERVICES YOU NEED Illinois and other states consider application of consumer fraud statutes allowing recovery of damages, treble damages and attorney fees. Texas, Iowa, Illinois Investigate GMAC Foreclosures By Margaret Cronin Fisk, Lorraine Woellert and Joel Rosenblatt – Sep 24, 2010 4:03 PM ET Attorneys general in Texas, Iowa and Illinois, following Florida, have started […]
SERVICES YOU NEED “Then guy then laughed nervously and said, “Well, if you’re right, we’re ****ed. We never transferred the paper. No one in the industry transferred the paper.” Editor’s Note: It is very rewarding to see the work of Karl Denninger and others who are taking my work and not only moving it along, […]
Broken Promises: Promissory Note Fraud A promissory note is a form of debt – similar to a loan or an IOU – that a company may issue to raise money. Typically, an investor agrees to loan money to the company for a set period of time. In exchange, the company promises to pay the investor […]
SERVICES YOU NEED The sharks are circling. Industry practices for the past ten years have been based upon intentional misrepresentation. If their lips were moving, if they submitted a document, they were lying. The lawyers, the banks and the individual people who signed any of these documents are in serious trouble along with those who […]
SERVICES YOU NEED EDITOR’S NOTE: Well it has finally happened. Three years ago I couldn’t get a single lawyer anywhere to consider this line of work. I predicted that this area of expertise in their practice would dwarf anything they were currently doing including personal injury and malpractice. I even tried to guarantee fees to […]
SERVICES YOU NEED “According to testimony last week, from January 2006 to June 2007, Clayton reviewed 911,000 loans for 23 investment or commercial banks, including Citigroup, Deutsche Bank, Goldman Sachs, UBS, Merrill Lynch, Bear Stearns and Morgan Stanley.” It’s like slapping some paint on a 30 year old Chevy and selling it as a Rolls […]
SERVICES YOU NEED “As basis for the legal case, WaMu had submitted an assignment of mortgage, which however the court just found never actually belonged to WaMu, and instead was carried on the books of Fannie Mae.” EDITOR’S NOTE: It’s an old story to us but it’s news to everyone else. Yes it IS fraud, […]
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