Archive for 'bubble' Category
Dec 9, 2008

Kevin Lamson Said, So can anyone guess the name of “organization” that was formed by Countrywide’s, Anthony Mazillo and Fannie Mae’s, James Johnson ten years ago it start with an M? No not the Mafia. It’s Mortgage Electronic Registration Systems Inc. commonly referred to as MERS. Yes that’s right Countrywide and Fannie Mae were the […]

Dec 8, 2008

OK it’s complicated. But I have distilled it down to a few sound bites that more or less captures the basic truth of why you don’t owe the money on that mortgage note, credit card, student loan, auto loan, furniture loan etc. Even small businesses might not owe their small business loans. There are exceptions […]

Dec 8, 2008

BORROWERS BETRAYED | I-TEAM SPECIAL REPORT Exec had mortgage racket down to an art Orson Benn has gone to prison for falsifying applications, but a former associate in Homestead still sells mortgages. Borrowers Betrayed Part 4 Orson Benn’s network of mortgage brokers wrote thousands of subprime loans in Miami-Dade which have gone into foreclosure. MIAMI […]

Dec 6, 2008

Report: New Century’s GC Warned Managers of Subprime Danger Sue Reisinger Corporate Counsel March 31, 2008 Listening to its general counsel might well have saved New Century Financial Corp., once the nation’s second-largest subprime mortgage lender, from plunging into bankruptcy a year ago. That’s one lesson from a 581-page report filed Wednesday by Michael Missal.A […]

Dec 5, 2008

STRAIGHT OFF THE NET THANKS TO READER ALLON HILL IS THE NAME OF THIS PARTICULAR COMPANY. I’M SURE THERE ARE DOZENS OF OTHERS. Assignment Recording Residential or commercial, Agency or private delivery, Allon Hill offers a complete menu of mortgage assignment services. In the past 14 years, Allon Hill has prepared and recorded over 5 […]

Dec 5, 2008

securities consultant says Merrill Lynch knew or should have known the securities they brought to market where overrated (From her website: “She wrote the first letter the SEC posted in February 2007 in response to its proposed rules for the credit rating agencies; she made the case that the NRSRO designation for the rating agencies […]

Dec 4, 2008

Notwithstanding your assertions to the contrary, the letter is very specific to the subject mortgage transaction. You are quite right however, that we are questioning virtually every aspect of the transaction because there appears to be questionable behavior on the part of multiple parties in connection with every phase of the loan transaction and subsequent […]

Dec 2, 2008

If you have access to Bloomberg professional or other such service here is the list of items we might want on any one occasion. Obviously once we have it we don’t need to do it again for the same series of certificates. Wish list would be documents we could lift, paste, print and use in […]

Dec 1, 2008

Countrywide Sued by Fund Over $8.4 Billion Loan Deal (Update1) greenwich-investor-complaint-against-countrywide-describing-securitization-in-simple-terms Excellent Article by Mr. Mortgage: Mortgage Security Holder Stands up to Bofa By Patricia Hurtado Dec. 1 (Bloomberg) — Countrywide Financial Corp., the home lender acquired by Bank of America Corp., was sued by Greenwich Financial Services Fund over claims an agreement to reduce […]