Jon Stewart committed his entire show to the mortgage crisis last Wednesday night. Go watch it. It wasn’t funny although they added some comedic aspects. The bottom line is the question “why aren’t these people in jail?” And the media was scorched with the fact that despite a constant culture of continuing corruption and absurd […]

Tags: BlackRock, Corere, credit default swaps, DOJ, fraud, GRETCHEN MORGENSON, Jon Stewart, JPMorgan Chase, wrongful foreclosure
Posted in Corruption, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

Since I entered the fray as the actual attorney for clients, we are getting down to the nitty gritty. Judges are surprised to learn that the foreclosure case in front of them was filed despite the payments actually received by the alleged creditor through third parties. In other words the case in front of them […]

Tags: assignment of rents, Dade County, default, investment banker, non stop servicer advances, pooling, Pooling and Servicing Agreement, Prospectus, PSA, Servicer advances, Title and Securitization Report, trust beneficiaries, US BANK
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

‘The bottom line is that the notice of substitution of Plaintiff in judicial states, or notice of substitution of Trustee in non-judicial states should be the first line of battle. Neither one of them is valid and in both cases you have a stranger to the transaction being allowed to name itself as creditor, name […]

Tags: ABN AMRO, Bank of America, BOA, Citi, Federal reserve, judicial foreclosure, LaSalle bank, Motion to Strike Notice of substitution of Plaintiff, non-judicial foreclosure, Notice of Substitution of Plaintiff, trustee, US BANK
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Pleading, securities fraud, Servicer |

Shack Blasts Chase, Fannie Mae for Bad Faith on Wamu Merger It is obvious that documents were produced for Shack to issue these rulings. The affidavits to which he refers should be obtained in their entirety. There is lots to take away from this decision, but most important, is that Chase never acquired the loans […]

Tags: American Brokers Conduit, assignment of rents, Chase, Chase-Wamu merger, contribution, Fannie MAe, FDIC, Freddie Mac, TILA, UNJUST ENRICHMENT, WAMU, Washington Mutual
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

I’ve talked about this before. It is why we offer a Risk Analysis Report to Community Banks and Credit Unions. The report analyzes the potential risk of holding MBS instruments in lieu of Treasury Bonds. And it provides guidance to the bank on making new loans on property where there is a history of assignments, […]

Tags: BANK REGULATION, community banks, credit unions, FDIC, Federal reserve, insurance, MBS, OCC, OTS, reserves at small institutions, risk analysis report, SEC
Posted in Corruption, evidence, expert witness, Modification, Motions, Pleading, securities fraud, Servicer |

An ordinary individual finds a sack of promissory notes, and you might expect him to try to locate the owners of those notes. After all they are the equivalent of cash. But the banker sells the stolen notes with false assignments, insures them, gets them guaranteed with payment proceeds to himself and then settles with […]

Tags: affirmative defenses, answer, existence of the debt, financial injury alleged, foreclosure defense, jurisdiction, pleading requirements for foreclosure, proving annegative
Posted in Corruption, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

One of the more controversial statements I have made is that certain types of payments from third party sources should be applied, pro rata, against loan balances. Some have stated that the collateral source rule bars using third party payments as offset to the debt. But that rule is used in tort cases and contract […]

Tags: Allocation of Third Party Payments, asset pool, credit default swaps, CREDIT EVENT, discovery, foreclosure, guarantees, insurance, Master Servicer, offset
Posted in Corruption, evidence, Modification, Motions, Pleading, securities fraud, Servicer |

Thanks to all who inquired about my health. I am fine. Just busy with cases getting ready for trial. Recent trends show a number of things. First, more actual judgments are being rendered in favor of borrowers. Sometimes, it is procedural, like the statute of limitations that limits actions to 5 years in Florida. But […]

Tags: DAVID STERN, foreclosures, Guarantee of title, Marshall Watson, mortgage modification, mortgage scams
Posted in Corruption, evidence, expert witness, Modification, Motions, Pleading, securities fraud, Servicer |

Matt Weidner reports that he went to court on a case where IndyMAc was the plaintiff. IndyMac was one of the first banks to collapse. It was found that they owned virtually zero mortgages and had “securitized” the rest which is to say they never loaned the money or got paid off by a successor. […]

Tags: Bank of America, Chase, Citi, creative criminals, indictments, INDYMAC, Matt Weidner, mortgage bond fraud, mortgage note fraud, Ponzi scheme, pretender lender, Wells
Posted in Corruption, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, Servicer |

The Wadsworth case clearly shows that the appellate courts are requiring the trial court to scrutinize the claims and filings of would-be forecloser and that things like notice of acceleration and the right to cure are important enough to reverse summary judgment. This is directly contrary to the rulings of many judges who say that […]

Tags: alteration of instrument by lender, Bank of America, Beaumont, Florida appeals, MOTION TO DISMISS, paragraph 22, summary judgment, Wadsworth
Posted in Corruption, evidence, foreclosure mill, Motions, Pleading, Servicer |