Archive for 'bubble' Category
CREDITORS CAN ONLY GET PAID ONCE Editor’s Note: If you are news junkie like I am and watch and read everything about the financial markets it is absolutely amazing how everyone seem to be in agreement that we are headed for a financial cliff and nobody wants to do anything about it. Sen Merkley, with […]
Editor’s Note: In an extremely well-written and well reasoned decision Federal District Court Judge M. James Lorenz denied the Motion to dismiss of US Bank on an alleged WAMU securitization that for the first time recognizes that the securitization scheme could be a sham, with no basis in fact. Although the Plaintiff chose not to […]
Seniors Leading the New Wave of Foreclosures Editor’s Comment: I think the figure is closer to 10 million, but I went with the title of the article by Mandi Woodruff on Business Insider. Unless the mortgages are corrected to reality in the marketplace instead of the fiction that prevailed when they were defectively “originated”, households […]
Housing Regulator Defies White House Obama’s Next Move Unknown Editor’s Comment and Analysis: It’s unanimous! Except for DeMarco, the housing regulator who won’t let Fannie and Freddie cooperate with principal reductions. Why not? “The Federal Housing Finance Agency’s own analysis has shown that principal reduction could help up to 500,000 homeowners and save taxpayers as […]
Could it be that the banks are ordering their “independent” trustees to alter the wording of the notice of sale and the ensuing deeds or transfers to look as bad as possible so they can get your home for 5 cents on the dollar? see alert-trustees-selling-liens-not-property-and-property-without-title Unless the bank’s are going to rig the real […]
Moving the Goal Posts Again SELLING LIEN INSTEAD OF PROPERTY AT TRUSTEE SALE When Will Judges Get It? There is NO Mortgage Lien EDITOR’S ANALYSIS: A new instrument is surfacing masquerading as a Notice of Sale. This is going to be interesting. If you didn’t read it, as most of these were probably not read […]
Many Canadians and U.S. investors are causing a buying “spike” that is creating the illusion that the market has hit bottom in some places and even going up. This illusion is self-perpetuating until it becomes clear that the buyers of these properties have bought into problems that they never knew existed. This is not the […]
Editor’s Comment: There can no longer be any doubt about the complicity of regulators with banks in both the Libor and mortgage scandals. In fact, it should not called a scandal. That implies that a few people went off the reservation. We have something more fundamental at stake here. It is the revolving door, bribery […]
Securitized debt in residential housing was and remains a myth. It never happened. And now the media are is starting to understand that the actual financial transaction is far simpler than the one the banks are reporting: the investors (pension funds etc.) loaned money to the homeowners. Instead of writing the check directly to the […]
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