Massachusetts is a power of sale state (non-judicial, but there is plenty of securitized meat in here for everyone). Good stuff to quote from — with Banks making the arguments that we are promoting on this Blog. The issues include (a) notice (b) unmarketable title and unable to get title title insurance (c) void certificate […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, lender, Lender Liability, Mortgage, securitization, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

RESPONSE TO MOTION FOR SUMMARY JUDGMENT AND TO TAX ATTORNEYS FEES AND ANSWER Defendant, DOUGLAS SCHWARTZ AND TAMMY SCHWARTZ, files its response and additional answer to plaintiffs U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR STRUCTURED ASSET SECURITIES CORPORATION (SASCO) 2007-BNC1, Mortgage Pass-through Certificates, Series 2007-bnc1 motion for summary judgment and to tax attorneys fees. 1. […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, Mortgage, predatory lending, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

Judge’s ruling deals blow to national mortgage servicer BY TIM O’REILEY A Las Vegas bankruptcy judge has dealt a blow to an obscure but critical piece of the mortgage enforcement machinery that could slow foreclosures. After a rare hearing in front of three judges last year that initially encompassed 27 cases, U.S. Bankruptcy Court Judge […]

Tags: bankruptcy, borrower, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

The actual certificates of asset backed securities (ABS) and in particular mortgage backed securities (MBS) were sold to investors. And they weren’t just sold, they “sold forward.” This is a form of short selling wherein the investment bank sells the security first and THEN waits until it can get the underlying mortgage and note at […]

Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, rescission, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

UCC: possession is not an indication of ownership of the note. Recording of collateral assignments is not required under Revised Article 9. Enforcement of the debt without the note is allowable under Article 3. Equitable arguments are available to prevent a borrower from benefiting from the industry’s inability to keep track of its documents. by […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, Mortgage, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

DOJ Probing Mortgage Data Processing Firms By Peg Brickley Of DOW JONES DAILY BANKRUPTCY REVIEW The Department of Justice is conducting a nationwide probe of the company whose automated systems handle half the mortgages in the U.S., looking for evidence Lender Processing Services Inc. (LPS) has “improperly directed” the actions of lawyers in bankruptcy court. […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, lender, Lender Liability, Mortgage, mortgage meltdown, TILA audit, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

Lies a new tool in foreclosure Lawyers, in rush to regain properties, can exploit judges’ workload By Todd Ruger Published: Sunday, May 10, 2009 at 1:00 a.m. Foreclosure lawyers want to take back property as fast as possible, and sometimes they do not let the facts slow them down. In case after case, lawyers representing […]

Tags: foreclosure defense, foreclosure offense, fraud, Lender Liability, predatory lending, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

The Judge authored a 58 page opinion ”to share my education with participants in the bankruptcy system who may be similarly unfamiliar with the extent that a third party intermediary drives the Chapter 13 process.” Opinion, p. 30.

where, as here, the debtor contests the relief sought, the flaws in the automated process become apparent. At this juncture, an attorney must cease processing files and act like a lawyer. That means she must become personally engaged, conferring with the client directly and abandoning her reliance on computer screens as an expression of her client’s will. This did not happen in this case until the Court became involved. It should not have taken judicial intervention to bring the Claim Objection to its conclusion.

Tags: bankruptcy, borrower, Chapter 13, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, Mortgage, rescission, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

Editor’s Note: Nationwide (described in the article below) is not the only company that is in the business of trying to “clear up” the title, assignment and, ownership and recording problems caused by the manner in which the loans were securitized. In many cases we are seeing fabricated documents, signatures from unauthorized people, notarization in […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, predatory lending, rescission, securitization, TILA audit, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

Many Thanks to Ron Ryan, Esq. representing the Tucson Bankruptcy Bar for the submission below: Editor’s Note: Obama wasn’t kidding when he he said the thing that humbled or frustrated him the most was how slow Washington is to “get on board.” Dick Durbin had the class and guts to say it outright. The banks […]

Tags: bankruptcy, borrower, Chapter 13, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |