STICKIER THAN THEY THINK: These are not the only mortgage securities they hold and they all amount to ownership of the risk on every loan they purchased. The purchase of course was accomplished in one of many ways — direct and indirect. But when you come down to it, between the GSE’s (which are now […]

Tags: BINYAMIN APPELBAUM, CDO, CDS, Federal reserve, loans, mortgage bonds, mortgage securities, SPLITTING NOTE FROM MORTGAGE
Posted in bubble, Corruption, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

SOMEBODY SEND ME THE COMPLAINT PLEASE —> NGARFIELD@MSN.COM Registration Statements omitted and/or misrepresented the fact that the sellers of the underlying mortgages to JP Morgan Acceptance were issuing many of the mortgage loans to borrowers who: (i) did not meet the prudent or maximum debt-to-income ratio purportedly required by the lender; (ii) did not provide […]

Tags: Coughlin Stoia, HERS, JP MORGAN ACCEPTANCE CORPORATION
Posted in bubble, Corruption, expert witness, Pleading |

GREAT POST BY MATT WEIDNER even if the instant motion was timely, the explanations offered by plaintiff’s counsel, in his affirmation in support of the instant motion and various documents attached to exhibit F of the instant motion, attempting to cure the four defects explained by the Court in the prior May 2, 2008 decision […]

Tags: fraud on the court, MERS INC
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud, Servicer |

July 16, 2010 A.I.G. to Pay $725 Million in Ohio Case By MICHAEL POWELL and MARY WILLIAMS WALSH The American International Group, once the nation’s largest insurance group before it nearly collapsed in 2008, has agreed to pay $725 million to three Ohio pension funds to settle six-year-old claims of accounting fraud, stock manipulation and […]

Tags: A.I.G., accounting fraud, American International Group, Andrew M. Cuomo, Bid Rigging, Eliot L. Spitzer, Federal reserve Bank of New York, fraud, HERS, MARY WILLIAMS WALSH, Maurice R. Greenberg, MICHAEL POWELL, Ohio pension, Richard Cordray, Securities and Exchange Commission, stock manipulation
Posted in bubble, Corruption, evidence, expert witness, Pleading |

NOTES ON HEARINGS W. David Merrill was sworn. He said that he worked for American Home Mortgage Servicing as a senior loan consultant working in mitigation, mediation, and litigation. Hence, the witness only entered the picture long after the loan was declared in default, a notice of default was served, and a notice of sale […]

Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

COMMENT FROM READER:  I received a printed copy from the Deutsche Bank, in reply to a complaint I filed against Deutsche Bank to Federal Reserve Bank New York. Title of the Page is “ROLE OF THE TRUSTEE IN THE US MORTGAGE MARKET” Under the TRUSTEE; It says ” Performs a variety of functions, among them […]

Tags: DEUTSCHE BANK
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, securities fraud |

One of the hardest things for people to get their minds around is how borrowers were defrauded. The nagging question keeps coming to mind “But you DID sign the loan and take the money, didn’t you?” Yes you did, but you did it because of a representation and virtual guarantee from several parties at the […]

Tags: appraisals, derivatives, loans, mortgage bonds, ratings
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Pleading, securities fraud |

6.29.10Bank-of-New-York-v-Michael-Raftogainis[1] Judge Todd also stated that additional discovery is to be produced when the foreclosure involves a securitization, lost note claims, or a holder in due course challenge (which may arise in the context of the purported assignment of a toxic loan to a securitized trust prior to the trustee of that trust instituting a […]

Tags: Bank of New York Mellon, Home Mortgage Investment Trust, New Jersey, securitization report, title report, William C. Todd
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, securities fraud |

“Trust me, I’m your friend.” “Hi! I want to be your Lender” (pretender lender) “I’ve got a great deal for you” “Here is the name of the underwriter of your loan.” “Here is the appraisal — it came in higher than your deal.” “You can rely on the appraisal” “It’s a 30 year loan” (1-6 […]

Posted in bubble, Corruption, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud |

I like this post from a reader in Colorado. Besides knowing what he is talking about, he raises some good issues. For example the original issue discount. Normally it is the fee for the underwriter. But this is a cover for a fee on steroids. They took money from the investor and then “bought” (without […]

Tags: accounting, ACTUAL RECEIVABLE, CREDIT EVENT, foreclosure, FORM 938, fraud, HERS, IRS, NOMINAL RECEIVABLE, ORIGINAL ISSUE DISCOUNT, REMIC, SERVICER FEE, taxes, Underwriter, WAMU, yield spread premium
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud, Servicer |