NPR Report: How We Found Our Toxic Asset There’s no store where you can buy toxic assets; you have to know a guy. We know Wit Solberg, a former Wall Street trader. Solberg left Wall Street to set up his own shop, Mission Peak Capital, in Kansas City, Mo. He and a dozen guys sit […]

Tags: CUSIP: 41161PUA9, Fla., Kansas City, Mission Peak Capital, OOMLT, Option One Mortgage Loan Trust, Sarasota, toxic assets, Wit Solberg, ZIP code 34232
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Editor’s Note: Recontrust appears to be wholly owned by Bank of America. This particular deal looks like a “reconstituted” mortgage backed security comprised of new securities which are “backed” by old mortgage backed securities which in turn are backed by a list of “loans” which may or may not exist, and which certainly have at […]

Tags: "reconstituted mortgage, assigment, BAC, Bank of America, credit-default swap, Federal Bailout, GRS Mort. Trust 2003-9, GSR Mort. Trust, HERS, list of "loans", mortgage backed security, NOD, paid in whole or in part, ReconTrust
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without raising taxes one cent, many states could recover much or all of their deficit and perhaps some states could be looking at a surplus. The money is sitting on Wall Street waiting to be claimed through existing tax laws, regulatory fees, and even damage claims much like the Tobacco litigation. Editor’s Note: Bob Herbert […]

Tags: Andre Cherney, ARIZONA, Bob Herbert, CALIFORNIA, Center on Budget and Policy Priorities, Children's Health Insurance Program, CHIP, Chris Chistie, Dean Martin, Florida, income tax, infrastructure, Jan Brewer, Job Shure, New Jersey, Ny Times, Recording fees, State Budget Deficits, taxes, Treasurer, Wall Street
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SEE The Economics and Incentives of Yield Spread Premiums and Credit Default Swaps March 23, 2010: Editor’s Note: The YSP/CDS paper is intentionally oversimplified in order to demonstrate the underlying economics of securitization as it was employed in the last decade. To be clear, there are several things I was required to do in order […]

Tags: borrower, credit, credit default swaps, credit worthy, creditor, damages, DEBTOR, Garfield, Garfield Continuum, identity theft, investment banker, Investor, Real Estate Settlement Procedures Act, remedies, TOXIC WASTE, Truth in Lending Act, yield, yield spread, yield spread premium
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SEE ALSO BOE PAPER ON ABS DISCLOSURE condocmar10 If the Bank of England wants this information, how can this court deem it irrelevant? NOTE: BOE defines investors as note-holders. information on the remaining life, balance and prepayments on a loan; data on the current valuation and loan-to-value ratios on underlying property and collateral; and interest […]

Tags: ABS Disclosure, arrangement, asymmetry of information, balance, Bank of England, bankruptcy, BEAR STEARNS, cash-flow waterfalls, countrywide, Credit Suisse, current rate, current valuation, David J. Grais, default, delinquent, descriptions, Deutsch Bank, diagrams, discovery, event, Federal Home Loan Bank of San Francisco, foreclosure, fraudulent activity, Grais and Ellsworth, Gretchen Morgenstern, interest rate, levels, LITIGATION, loan-to-value ratio, loss on sale, Merrill Lynch, Moral Hazard, mortgage backed bonds, mortgage backed securities, New York Times, noteholders, performing, portfolio, prepayments, profit on sale, qualified written request, remaining life, RMBS, sale price, subportfolio, total recoveries, triggers, value of payments in arrears
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“(T)he differences between the values ascribed to these properties and the prices at which the properties were sold in foreclosure are significantly greater than the declines in house prices in the same geographical areas over the same periods,” Editor’s Comment: BINGO! Use this complaint for both discovery and as a pleading guide. Send me a […]

Tags: appraisal fraud, Banc of America, BEAR STEARNS, Charles Koppa, countrywide, Credit Suisse, Dave Tartre, Day and Lamprey, Deutsch Bank, discovery, eclosure sales, Federal Home Loan Bank of San Francisco, FHLB, Fruad, Goodin, Greenwich capital markets, JPMorgan Stanley, Macbride, mortgage backed bonds, property value, RBS Securities, Robert Goodin, Squeri, UBS
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Upon finding that a portion of those payments should be applied to the subject loan, the declaration of default would be invalid because it would either be wrong inasmuch that the third party payments would at least be prepayments of future monthly payments, or wrong because the third party payments reflected an inaccurate accounting of […]

Tags: accounting, adversary, bankruptcy, credit default swaps, creditor, Federal Bailout, foreclosure, insurance, schedules, secured claims, securitized mortgage, third party payments, unsecured creditors
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from June Reyno: 2010/03/30 at 2:43pm Once all of this information has been compiled with all their names, titles, addresses, signatures, company affiliation– we should then begin submitting these (i.e. notary public signatures) to various state agencies for confirmation and verification that these “people” are actually who say they are on the paper closing statements […]

Tags: ARM, Bankruptcy automatic stay, Bonafide Purchasers, CC 1161(a), County Recorder’s Office, fiduciary, LLC, Option One Mortgage Corporation, Residential Funding Real Estate Holdings, San Diego Police Dept., trustee, Washington Mutual
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