Hiding in plain sight, Chase may indeed have taken control of the portfolio loans of Washington Mutual. The FDIC receiver clearly stated to me that there was no assignment of mortgages. He also said that he thought Washington Mutual was servicing about $1 Trillion in loans originated by WAMU or its originators (pretender lenders). And […]

Tags: Chase, FDIC receiver, Richard Schoppe, US bankruptcy trustee, WAMU
Posted in Corruption, Modification, securities fraud, Servicer |

Where “servicer” advances to the trust beneficiaries are present, it explains the rush to foreclosure completely. It is not until the foreclosure is complete that the payor of the “servicer” advances can stop paying. Thus the obfuscation in the discovery process by servicers in foreclosure litigation is also completely explained. Further this would open the […]

Tags: bond defaults, contract law, non stop servicer advances, note defaults, novation, RESPA, second liability, third party payments, TILA
Posted in Corruption, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

Getting the closing instructions and the closing documents, including the wire transfer receipts and wire transfer instructions, one is able to piece tog ether that escrow was never properly closed. This could mean that escrow is still open — leaving open the option of a three day rescission. Dan points out in response to me […]

Tags: Bogan v. Wiley (1949), closing of escrow, conditions precedent to closing escrow, delivery of note, escrow agent, failure of delivery of an instrument, Jeannerette v. Taylor (1934), POSSESSION VERSUS AUTHORITY OR RIGHT TO ENFORCE THE INSTRUMENT], Sousa v. First California Co. (1950), Todd v. Vestermark (1956)
Posted in Corruption, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

NOTE: THE FOLLOWING IS A LEGAL ANALYSIS THAT MAY OR MAY NOT APPLY TO CASES ON WHICH YOU ARE WORKING. IT IS REALLY MEANT FOR ATTORNEYS WHO ARE REPRESENTING PARTIES IN FORECLOSURE LITIGATION. No lay person should assume that anything in this article is true or applies to their case. Nobody should use this information […]

Tags: ABN AMRO merger with BofA, ABN AMRO merger with Citi, Bank of America, Bank of America as trustee, Citimortgage, Citimortgage as trustee, Federal reserve order on BOA-LaSalle Merger, LaSalle bank, LaSalle Bank as trustee, servicer, US BANK, US Bank as trustee, US Bank website
Posted in Corruption, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

Editor’s note: in preparing a complex motion for the court in several related cases I ended up writing the following which I would like to share with my readers. As you can see, the issues that were once thought to be simple and susceptible to rocket docket determination are in fact complex civil cases involving […]

Tags: ABN AMRO, acquisition, authority to represent, Bank of America, demand letter, foreclosure, foreclosure defense issues, LaSalle bank, merger, modification, notice of acelleration, Notice of Default, Power of Attorney, reinstatement, rocket docket, sec.gov, servicer, sucessor by merger, trustee, US BANK
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

One of the rewarding aspects of what I do is to see more and more people not only hopping on board, understanding securitization, but adding to the body of knowledge I have amassed. In the following article Bill Paatalo, who has done the loan level accounting for many of our readers, expands upon a topic […]

Tags: Auction, Bill Paatalo, credit bid, default, foreclosure sale, Notice of Default, Notice of Sale, redemption, reinstatement, standing
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Pleading, securities fraud, Servicer |

I keep getting inundated with creative arguments about the documentation, which is exactly the rabbit hole that the Banks want you to go down. It is a trap. Technical attacks on documentation are not going to win the day because in the end, it is public policy for negotiable instruments to be safe bets in […]

Tags: account payable, account receivable, co-obligors in securitized loan transactions, defective documentation, Servicer advances, third party payments
Posted in Corruption, evidence, expert witness, Modification, Motions, Pleading, securities fraud, Servicer |

EDITOR’S NOTE: The dots are starting to get connected. Here JP Morgan who said they were the successor for everything that was WAMU turns out to be arguing that this didn’t actually happen and that some money is still left in the WAMU “estate.” The issue that is not raised is what else is in […]

Tags: Chase, complex litigation, FDIC, foreclosures, JP Morgan, JPM, rocket docket, WAMU, WAMU estate
Posted in Corruption, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

Editor’s Note: In answer to the many inquiries we get, I am ONLY licensed in the State of Florida. The reason you see my name pop up in other states is that I am frequently an expert witness and trial consultant on cases, working for the lawyer who is licensed in that state. My law […]

Tags: accounting, CALIFORNIA, Chase, Florida, loan level accounting, sanctions against banks, securitization report, Servicer advances, title report, US BANK
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

When I first got into this mortgage mess I called counsel for Aurora on a foreclosure case pending in California. I asked him how the currently self-designated entity pursuing foreclosure could justify its actions. His answer was “we are the holder.” So I asked him again why a company that has no financial stake in […]

Tags: appraisal fraud, Daiwa Products, Davis vs. West, for value, Inc. v Nationsbank, Kind v Gittman, N.A, U.S. v Second National Bank of North Miami, UCC 3-305
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |