NOTE: BE AWARE THAT WELLS FARGO AND OTHERS MAY HAVE PUT YOUR TRANSACTION IN A FORBEARANCE PROGRAM WITH UNKNOWN TERMS. ======== I think that the banks have unfairly benefited from assumptions regarding the connection between the cessation of payments by homeowners and the existence of a default. * I think that there are elements of a default that we […]

Posted in discovery, evidence, expert witness, Fabrication of documents, foreclosure defenses, legal standing, Pleading, securities fraud |

Major banks, including Citigroup, JPMorgan and Morgan Stanley used massive trading revenues to beat profit expectations despite the continued struggles of the United States economy during the coronavirus pandemic. Those trading units tend to perform best when markets are volatile, helping to guard the major banks against economic struggles. see https://www.cnbc.com/2020/07/17/without-big-wall-street-trading-arms-regional-banks-lean-on-mortgages-and-fees-to-beat-earnings.html Way back in 2006 and 2007 and when I first […]

Posted in Corruption, foreclosure defenses, foreclosure mill, legal standing, Motions, Pleading, Servicer |

The only way that enforceability of the homeowner transaction can be preserved is through common law contract, in which UCC presumptions would probably not apply I recently received a question from a paralegal asking a question I constantly receive — where do I find my loan. Or more specifically how to find out which trust […]

Posted in Corruption, discovery, evidence, Fabrication of documents, foreclosure defenses, foreclosure mill, legal standing, Pleading |

I received an email from one of my most prolific contributors that I am republishing here because virtually everything in it is entirely correct. I especially approve of her point about the fact that servicer advances are funded from proceeds of public offerings of stock that were all purchased by the Wall Street banks who […]

Tags: Pennymac, TRUTH
Posted in Corruption, discovery, evidence, expert witness, Fabrication of documents, foreclosure defenses, foreclosure mill, legal standing, Pleading, securities fraud, Servicer |

Servicers did not make any advances. They never did and they never will. They said they did but they didn’t. If you read the prospectus carefully you will see that the money from investors is divided into three parts. * The first part is the purchase of a certificate that promises payments to the investor […]

Posted in Corruption, discovery, Fabrication of documents, foreclosure defenses, foreclosure mill, legal standing, Modification, Pleading, Servicer |

Since foreclosures are about to start another meteoric rise, this would be a good time to write a new article on what went wrong the last time, what is going on now, and what is still likely to go wrong this time. * I know that some of the rantings on the internet seem like the […]

Tags: reformation
Posted in Corruption, discovery, evidence, Fabrication of documents, foreclosure defenses, legal standing, Modification, Pleading, securities fraud, Servicer |

In all jurisdictions, even if the trust has some assets, and therefore legal existence as a legal person, if the asset in question has not been entrusted to the trustee on behalf of beneficiaries, the existence of the trust is completely irrelevant. And all claims arising from the supposed existence of the trust are also […]

Tags: inchoate, presumptions, trust existence, Trust Law, trustee
Posted in Corruption, Fabrication of documents, foreclosure defenses, foreclosure mill, legal standing, Motions, Servicer |

Many thanks to Bill Paatalo for bringing this to my attention. This article brings to the forefront a central issue that Wall Street cannot escape unless we let them: in the context of securitization, the paper transfers to the “depositor” is not a sale even if it is treated as a sale by the “Seller.” […]

Posted in Corruption, evidence, Fabrication of documents, foreclosure defenses, legal standing, Servicer |

Fundamentally you must understand that the investment banks want you and everyone else to look only at the payments history — not the debt, who owns it and whether anyone suffered a loss resulting from any lack of payment by the homeowner. * Their strategy is to get the court to presume that in the absence of […]

Posted in Corruption, discovery, Eviction, evidence, expert witness, Fabrication of documents, foreclosure defenses, legal standing, Pleading, securities fraud, Servicer |

Some have pointed to some articles indicating that the securitization ponzi scheme collapsed already. It might be more accurate to say that the scheme was reorganized rather than collapsed. But even if it collapsed the Wall Street banks will continue sending servicers and foreclosure mills into the field to file foreclosures. After, all, it’s free money […]

Tags: creditor, debt, HOLDER, holder in due course
Posted in discovery, evidence, Fabrication of documents, foreclosure defenses, legal standing, Pleading, securities fraud |