Editors Note: If anything shows the extent of appraisal fraud, it is the sheer number of homes that are under water. These figures while high, report only a fraction of the actual number of homes because of the way they are computed. If you take the asking price, reduce it by at least 4% (which […]

Tags: appraisal fraud, Bloomberg, Brian Louis, broker, Celia Chen, commission, Edge Simonton, fair market value, foreclosure, HERS, house arrest, Moody’s Economy.com, RealtyTrac Inc, selling expenses, strategic defaults, under water, Zillow.com
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Editor’s Note: Hard to say which way this will go, but it SHOULD go negative for Moody’s, Fitch and Standard and Poor’s. This was appraisal fraud at the OTHER end of the lending chain. Investors were misled as to the value of the security not only because the home appraisals were inflated, and not only […]

Tags: appraisal fraud, cease and desist, credit enhancements, Credit Rating Agency Reform Act of 2006, Fitch, home appraisals, investors, MIS, Moody's, moodys.com, ratings agencies, SEC, SEC Form NRSRO, Standard and Poor's, Triple AAA ratings, Wells Notice, Zero Hedge
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

5 08 10 Florida mediationorder The main message is that what we have here is a legal obligation in search of a creditor and that the opposition is trying to use the court as a vehicle to steal the house and run with it while the whole securitization mess is scrutinized. I think this Order […]

Tags: 6th District, authority, Florida, free house, holder in due course, lender status, Motion Practice, pretender lenders, real party, Shareholders
Posted in Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Eltman, Eltman & Cooper was one of 35 law firms sued last July by the state, which claimed that they had improperly obtained more than 100,000 judgments in consumer-debt cases. Editor’s notes: The dubious “enforcement” of mortgages, notes and “obligations (that have been paid many times over through credit enhancement) is both mirrored and amplified […]

Tags: debt, Debt Collectors, Eltman, Eltman & Cooper, judges, New York, Obligation, Philip S. Straniere, usury, WILLIAM GLABERSON
Posted in Corruption, foreclosure mill, Servicer |

The problem is that a statute passed for judicial economy is now being used to force the burden of proof onto the borrower in the foreclosure of their own home I think the main issue in non-judicial states is what does “non-judicial” mean. I think in your argument you do NOT want to concede that […]

Tags: BURDEN OF PROOF, judicial event, judicial foreclosure, non-judicial, object to the sale, power of sale, trustee
Posted in Corruption, Eviction, expert witness, foreclosure mill, Servicer |

Editor’s Note: Besides the obvious, there are a number of not-so-obvious things to keep in mind. The reason why they made the “mistake” is probably related to errors in procedure because they receive information from multiple sources. It is possible but unlikely that this was a normal error in posting. In Motion Practice and Discovery […]

Tags: 80129, 8742 Lucent Blvd, borrower, business as usual, business records, CO, creditor, DEBTOR, discovery, fabricated documents, homeowner, Investor, Littleton, Motion Practice, Pasadena Sheriff’s Department, price, Reginald Jones, Specialized Loan Services, stakeholders, standard operating procedure, Terwin Group
Posted in Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Editor’s Comment: Home builders made out like bandits as they were complicit in the rampant appraisal fraud that served as the keystone of the mortgage meltdown. Both the homes that were sold and the securities that were sold to fund the mortgages were inflated in the same way. But on the homeowner side there was […]

Tags: appraisal fraud, Beazer, comparable, HERS, home builders, HOrton, Hovnanian Enterprises, Lennar, MDC Holdings, profit margins, TILA, Toll Brothers
Posted in bubble, Corruption, securities fraud, Servicer |

GMAC has failed to demonstrate that it is the holder of the Note because, while it was in possession of the Note at the evidentiary hearing, it failed to demonstrate that the Note is properly payable to GMAC Once the securities have been sold, the SPV is not actively involved. IN RE WEISBAND In re: […]

Tags: adequate protection payments, adjustable rate promissory note, allonge, ARIZONA, Aurora Loan Services ("Aurora"), case or controversy, endorsement, evidentiary hearing, FISA, Flow Interim Servicing Agreement ("FISA"), GMAC as the sub-servicer, GreenPoint Mortgage Funding, GreenPoint Mortgage Funding Trust ("Trust"), HERS, HOLLOWELL, Inc., Inc. ("GreenPoint", Lehman Brothers Holdings, Lehman Capital, Master Servicer, MERS, Mortgage Electronic registration Systems, Mortgage Loan Sale and Assignment Agreement ("MLSAA"), Motion for Relief from Stay, motion to lift stay, prohibition on third-party standing, REAL PARTY IN INTEREST, Reconstituted Servicing Agreement, Ronald Ryan, SASC, standing, Structured Asset Securities Corporation ("SASC"), third-party standing, trust, Trust Agreement, Tucson, U.S. Bank National Association ("U.S. Bank"), WEISBAND
Posted in Corruption, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Practically all the questions I get relate to how to prove the case that the loan was securitized. This is the wrong question. While it is good to have as much information about the pool a loan MIGHT BE INCLUDED, that doesn’t really answer the real question. The real question is what is the identity […]

Tags: AFFIRMATIVE RELIEF, amortization, assignment, assumption, authenticity of the assignment, BURDEN OF PROOF, credit default swaps, credit enhancement, cutoff date, DEED OF TRUST, discovery, full accounting of all payments, identity of the creditor, insurance, judicial economy, judicial proceeding, Mortgage, Motion Practice, non-judicial statutes, note, Obligation, offer AND an acceptance, owed on my obligation, payments from third parties, pooling and service agreement, prima facie case, pro se litigants, securitization, UNCONSTITUTIONAL
Posted in Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Editor’s Note: Judge Lippman is certainly onto something here. There is no doubt that the poor get the short end of the stick when it comes to legal matters. Whether this will have any effect on foreclosures is a question that cannot be answered as yet. With more people moving into the poverty level due […]

Tags: April Charney, CALIFORNIA, Eviction, Gideon v. Wainwright, indigent, JOBLESSNESS, Jonathan Lippman, Legal Aid Society, legal representation, National Legal Aid and Defender Association, New York, oligarchy, Steven Banks, wages, WILLIAM GLABERSON
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |