From Dan Edstrom: Department of Justice Press Release For Immediate Release April 16, 2010 United States Attorney’s Office Eastern District of California Contact: (916) 554-2700 Stockton Real Estate Executive Pleads Guilty to Bid Rigging at Auctions of Foreclosed Properties SACRAMENTO, CA—United States Attorney Benjamin B. Wagner and Assistant Attorney General Christine Varney of the Department […]

Tags: Anthony B. Ghio, Antitrust Division, Auctions of Foreclosed Properties, Benjamin B. Wagner, Bid Rigging, CA, Christine Varney, conspiring to rig bids, Department of Justice, Federal Bureau of Investigation, Financial Fraud Enforcement Task Force., HERS, Judge Edward J. Garcia, Lauren Horwood, MERS, Mortgage Fraud Working Group, Obama, Robin R. Taylor, Russell L. Carlberg, SACRAMENTO, San Joaquin County, San Joaquin County District Attorney’s Office, Sherman Act, Stockton Real Estate
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Editors’ Note: In response to my post on ID THEFT I received a number of comments and ideas. Here is one example of how someone stuck to the message and forced the issue using ID theft as a defensive tactic as well as preparing for an offensive response. Are you reading my mind? Out of […]

Tags: assignment, beneficiary, credit reports, DEED OF TRUST, disclosure, discovery, dispute credit report, FDCPA, foreclosure, foreclosure defense, foreclosure offense, fraud, FTC Complaint, HERS, ID Theft, identity theft, lender, SEC Complaint, SEC filings, securitization, Substitute Trustee, transfer, trustee
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“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
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From Beth Findsen, Attorney in Scottsdale, AZ, she comments that ID Theft may just be the heart of the matter in seeking damages. The logic is simple: they used every borrower’s signature for selling a pool of loans that included OTHER borrowers and a huge undisclosed profit was generated by using the borrower’s signature. Without […]

Tags: Beth Findsen, borrower, failure to disclose?, fraudulent misrepresentation, ID Theft, identity theft, investors, Scottsdale, use of identifying information
Posted in Corruption, expert witness, 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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