I have frequently commented that one of the first things I learned on Wall Street was the maxim that the more complicated the “product” the more the buyer is forced to rely on the seller for information. Michael Lewis, in his new book, focuses on high frequency trading — a term that is not understood […]

Tags: appraisal fraud, bailout, countrywide, disclosure, Fannie, foreclosure, foreclosure defense, foreclosure offense, FORECLOSURE SETTLEMENT, fraud, RESPA, securitization, TILA audit
Posted in Corruption, discovery, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Pleading, securities fraud, Servicer |

Several people are issuing statements about servicer advances, now that they are known. They fall into the category of payments made to the creditor-investors, which means that the creditor on the original loan, or its successor is getting paid regardless of whether the borrower has paid or not. The Steinberger decision in Arizona and other […]

Tags: broker-dealer, creditor, investment bank, Investor, mortgage loans, pooling and servcing agreement, Prospectus, Servicer advances
Posted in Corruption, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Motions, Servicer |

Danielle Kelley, esq., my law partner frequently says she likes to start with the jury instructions because that is where everything is boiled down to their simplest components. I think it is wise to make references to the standard jury instructions (plus the fact that they were introduced as an amendment to the Florida rules […]

Tags: admissible evidence, BREACH, commercial litigation, contracts, elements of contract, financial injury, florida standard jury instructions, implied contracts, loss
Posted in Corruption, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Motions, Pleading, Servicer |

Modifications are like a dirty word in the marketplace. Frustration, chicanery, luring borrowers into default, and crating modifications that are bound to fail so that the banks can get that ever precious foreclosure sale. But there is another side to it, as our guest writer David Abellard points out below. And while I think the […]

Tags: Abellard, home loans, interest rate reduction, Krasker, modification, mortgage modification, princnipal reduction
Posted in Corruption, expert witness, foreclosure defenses, foreclosure mill, Modification, Pleading, Servicer |

Some of you might remember that I had a representative of the law firm of Paul Krasker on The Neil Garfield Show,  which airs on Thursday nights at 6 PM for 30 minutes. Krasker has taken a disciplined niche approach to the foreclosure problem and I think his firm has done a very good job […]

Tags: credit brain, CREDIT REPAIR, credit restoration, Da'Vid Abellard, Paul Krasker
Posted in Corruption, foreclosure mill, Modification, Servicer |

The issue is what are the elements of the loan contract? Who are the parties? And who can enforce it? I would agree that an overpayment at closing from the source of funds is rare. What is not rare and in fact common is that the wire transfer instructions that accompany the wire transfer receipt […]

Tags: acceptance, borrowers, closing table, consideration, contract law, debt, documentation, homeowners, investors, lenders, Mortgage, note, offer
Posted in Corruption, evidence, expert witness, foreclosure defenses, Modification, Pleading, Servicer |

There have been multiple questions directed at me over the issue of consideration arising from presumptions made about a note and mortgage that appear to be facially valid. Those presumptions are rebuttable and indeed in many cases would be rebutted by the actual facts. That is why asserting the right defenses is so important to […]

Tags: adequacy of consideration, consideration, contract law, credit bid, creditor, creditor bid, discovery, foreclosure sale
Posted in Corruption, evidence, expert witness, foreclosure defenses, Modification, Motions, Pleading, Servicer |

Click to Tune in or Download The Neil Garfield Show Or call in at (347) 850-1260, 6pm Thursdays It has been my contention all along that these cases ought to end in the discovery process with some sort of settlement — money damages, modification, short-sale, hardest hit fund programs etc. But the only way the […]

Tags: Bank of America, bank of new york, competency of witness, depositions, discovery, foreclosure defense, Mellon, modification, objections to discovery, personal knowledge, short-sale, Urban Lending Solutions, Wells Fargo
Posted in Corruption, evidence, foreclosure defenses, Modification, Motions, Pleading, Servicer |

Wells Fargo Manual “Blueprint for Fraud” Hat tip to my law partner, Danielle Kelley, Esq., for sending me the manual and the reports on it. Anyone desirous of a consultation on the application of what is on this blog, must either be a lawyer or have a lawyer who is licensed in the jurisdiction in […]

Tags: Bank of America, business records exception, Chase-Wamu merger, competency of witness, conflict of interest, hearsay, hearsay upon hearsay, JPM CHASE, Master Servicer, REMIC trusts, sub servicer, Urban Lending Solutions, WAMU Loans
Posted in Corruption, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

Wells Fargo Investigated by 4 Agencies for Manual on Fabricating Foreclosure Documents Wells Fargo is under investigation for a lot of things these days, just as we find in Bank of America and other major “institutions.” The bottom line is that they haven’t been acting very institutional and their culture is one that has led […]

Tags: Bank of America, fabrication manual, fabrication of foreclosure documents, fraud, identity theft, Investigation, trust, Wells Fargo
Posted in bubble, Corruption, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Pleading, securities fraud, Servicer |