“of AAA-rated subprime-mortgage-backed securities issued in 2006, 93 percent — 93 percent! — have now been downgraded to junk status.” Editor’s Note: What homeowners and their lawyers, forensic analysts, and experts need to realize is that the ratings scam on Wall street was only one-half of the equation in a scheme to defraud homeowners. If […]

Tags: Appraisal, appraisers, lender, Moody's, PAUL KRUGMAN, Raters, rating agencies, Reg Z, Senate’s Permanent Subcommittee on Investigations, Standard & Poor's, TILA, verification
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Editor’s Note: I don’t know him but I am going to get to know him. It sounds like you should too. Every  time the servicer violates the law, you have a  remedy. Katz is leading the charge collecting damages and there are usually awards of attorneys fees. I would add that if they don’t pay […]

Tags: ACA International, ARIZONA, collection agency, consumer protection law, Fair Debt Collection Practices Act, Jack Gordon, Minneapolis trial lawyer, National Loan Recoveries, Peter Barry, Rozanne M. Andersen, Steven Katz, Tucson, WebRecon
Posted in Corruption, foreclosure mill, Modification, securities fraud, Servicer |

There is a lot of conflicting opinions about this. My opinion is that the confusion arises not from the law, not from application of the law and not from what is written on the note or deed of Trust. If you look at the Bellistri Missouri case the issue is well settled. And the problem […]

Tags: Bellistri case, Bellistri v Ocwen Loan Servicing, beneficiary, borrower, Certainty, creditor, DEED OF TRUST, defect in title, DOT, enforceability, HERS, MERS, Moral Hazard, multiple parties, nominee, note, Obligation, Ocwen, Payee, quiet title suit, release and reconveyance, Restatement 3rd, SEPARATION OF DEED OF TRUST FROM NOTE, unmarketable
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Editor’s Note: This is what we are hearing about. What about the settlements that go unreported? The number of settlements that are off-record (unreported) is unknown but suspected to be very high. [One of the reasons why it is SO important to get the true CURRENT status of the SPV and the true FULL accounting […]

Tags: $600 million, 07-05295, accounting, allocation to the borrower's principal balance, balance due, capital pool, Central District of California (Los Angeles)., Citigroup Inc, class-action lawsuit, Countrywide Financial Corp, Countrywide underwriters, creditors, David E. Rovella, Dean Kitchens, defense of payment, Edvard Pettersson, foreclosure suits, Goldman Sachs Group Inc, HERS, In re Countrywide Financial Corp. Securities Litigation, investors, Jef Feeley, Jennifer Bankston, JPMorgan Chase & Co, Judge Mariana Pfaelzer, KPMG LLP, Labaton Sucharow LLP, monthly statements, Mozilo, New York retirement funds, notices of default, notices of delinquency, notices of sale, payment as a defense, pretender lenders, principal balance, settlements, Shirley Norton, The Daily Journal, U.S. District Court, U.S. Securities and Exchange Commission
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Leo II bgitt47@verizon.net 2010/04/25 at 12:26 am Editor’s Note: I believe Leo is right. These suits allege that the SPV do not own the loan portfolios. They also allege directly that the Trust Assets included insurance — payments from credit default swaps. Two revealing lawsuits filed against Goldman-Sachs that I believe further support arguments that […]

Tags: Blankfein, credit default swaps, Goldman, insurance, Leo II, Shareholders, SPV, TRUSTS
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If you have a GSAMP securitized loan you might want to pay particular attention here. In fact, if you ever had a securitized loan of any kind you should be very interested. Hudson Mezzanine: The use of the word “mezzanine” is like the use of the word “Trust.” There is no mezzanine and there is […]

Tags: ABACUS 2007-AC1, Altius I, Anderson Mezzanine 2007-1, Bank of America, Broadwick, Carl Levin, conduit entity, conventional mortgage, Everest Management, Fortius I, Gary Kopff, Goldman Sachs, Goldman Sachs Conveyor Belt, GSAMP, GSAMP securitized loan, HERS, Hudson Mezzanine, insurance, Lloyd C. Blankfein, markdown, Mezzanine, Michael Swenson, mortgage researcher, mortgage trader, negative bets on housing, Peleton Partners, Securities and Exchange Commission, Senators, sub-prime mortgages, Timberwolf I, trust
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“a ‘thing’ which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price.” Editor’s Note: Think about it. The foundation of the supply of money that was pressure pumped into our economic housing system resulted in inflation of home appraisals. It was so large that everyone thought the […]

Tags: ABX, appraisers, Fabrice "Fabulous Fab" Tourre, foreclosure sale, free house, Goldman Sachs, Great Depression, Gregory White, rating agencies, Scandals, SEC, Times of London., Tourre, Wall Street
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REGISTER NOW FOR DISCOVERY AND MOTION PRACTICE WORKSHOP 5/23-24 Editor’s Notes: These lawsuits from the SEC, the Class Action lawyers etc., are already producing fall-out — dozens of articles and production of secret emails etc. that can only help your case. Follow them closely as they will inevitably lead to admissible evidence of what you […]

Tags: Abacus, accounting bookkeping, Alan Bromberg, Angelo Mozilo, Bank of America, CDO, collateralized debt obligation, correspondence, countrywide, discovery, distribution reports, E. Scott Reckard, emails, Goldman Sachs, HERS, ledgers, Los Angeles Times, Merrill Lynch, Motion Practice, Nowicki, Ponzi scheme, press releases, Prospectus, Rababank, ratings, Robert Khuzami, SEC, securitization documentation
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REGISTER NOW FOR DISCOVERY AND MOTION PRACTICE WORKSHOP MAY 23-24 Editor’s Note: As these hearings progress, you will see more and more admissible evidence and more clues to what you should be asking for  in discovery. You are getting enhanced credibility from these government inquiries and the results are already coming out as you can […]

Tags: admissible evidence, appraisals, Carl Levin, collateralized debt obligations, corrupt, credibility, David A. Skeel, discovery, enhanced credibility, HERS, inflation of the appraisals, loan product, market forces, Moody's Investors Service, Motion Practice, pattern of illegal conduct, rating agencies, rating system, Rating=Appraisal, reasonably relied, Securities and Exchange Commission, SEWELL CHAN, Standard & Poor's, Stockholm syndrome, University of Pennsylvania
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Judge Bashes Bank and Stern Law Firm in Foreclosure Case By AMIR EFRATI A Florida state-court judge, in a rare ruling, said a major national bank perpetrated a “fraud” in a foreclosure lawsuit, raising questions about how banks are attempting to claim homes from borrowers in default. The ruling, made last month in Pasco County, […]

Tags: affidavit, AMIR EFRATI, Anthony Rondolino, assignment of mortgage, David Stern law firm, disclosure, Fla., Florida, foreclosure defense, Forrest McSurdy, fraud, fraud upon the court, GMAC Mortgage LLC, Harpster, HERS, Judge Lynn Tepper, Law Offices of David J. Stern, Lender Liability, securitization, St. Petersburg, Steve Dale, trustee, U.S. Bank, Wall Street Journal, Wells Fargo
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