Most “Trustees” or Substitute Trustees get a package from some unknown source with everything already prepared and instructions to proceed. That is the exact opposite of the protections intended by the legislature in this statute under Arizona law. Your state is probably the same. 33-803.01. Trustee of trust deed; delegation of duties A. A trustee […]

Tags: 33-803.01. Trustee of trust deed; delegation of duties, cancellation of notice of sale, clerical or office staff employed by the trustee, Delegate, delegation of duties, notice of trustee sale., preparation and execution, trustee's deed upon sale, TRUSTEES, under the trustee's direct and immediate supervision
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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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Editor’s Note: Now the truth as reported here two years ago. There were no losses. They were making money hand over fist. And this article focuses only on a single topic — some of the credit default swaps — those that Goldman had bought in its own name, leaving out all the other swaps bought […]

Tags: ABACUS 2007-AC1, bonds, borowers, check-kiting, David A. Viniar, default, Eric Kolchinsky, Federal Deposit Insurance Corporation., financial crisis, Financial Crisis Inquiry Commission, Fitch, fraud, Gary D. Cohn, Goldman Sachs, GRETCHEN MORGENSON, HERS, John A. Paulson, Kolchinsky, lenders, lending, Lloyd C. Blankfein, losses, Louise Story, Moody's, mortgage backed securities, Office of Thrift Supervision, operating agreement, OWNERSHIP of the loan pool, Ponzi, Securities and Exchange Commission, selling forward, Senate Permanent Subcommittee on Investigations, SEWELL CHAN, sham, shares, special purpose vehicle, Standard & Poor's, swaps, trust, trustee, Washington Mutual
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REGISTER NOW FOR DISCOVERY AND MOTION PRACTICE WORKSHOP 5/23-24 Editor’s Notes: These lawsuits from the SEC, the Class Action lawyers etc., are already producing fall-out — dozens of articles and production of secret emails etc. that can only help your case. Follow them closely as they will inevitably lead to admissible evidence of what you […]

Tags: Abacus, accounting bookkeping, Alan Bromberg, Angelo Mozilo, Bank of America, CDO, collateralized debt obligation, correspondence, countrywide, discovery, distribution reports, E. Scott Reckard, emails, Goldman Sachs, HERS, ledgers, Los Angeles Times, Merrill Lynch, Motion Practice, Nowicki, Ponzi scheme, press releases, Prospectus, Rababank, ratings, Robert Khuzami, SEC, securitization documentation
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REGISTER NOW FOR DISCOVERY AND MOTION PRACTICE WORKSHOP MAY 23-24 Editor’s Note: As these hearings progress, you will see more and more admissible evidence and more clues to what you should be asking for  in discovery. You are getting enhanced credibility from these government inquiries and the results are already coming out as you can […]

Tags: admissible evidence, appraisals, Carl Levin, collateralized debt obligations, corrupt, credibility, David A. Skeel, discovery, enhanced credibility, HERS, inflation of the appraisals, loan product, market forces, Moody's Investors Service, Motion Practice, pattern of illegal conduct, rating agencies, rating system, Rating=Appraisal, reasonably relied, Securities and Exchange Commission, SEWELL CHAN, Standard & Poor's, Stockholm syndrome, University of Pennsylvania
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Judge Bashes Bank and Stern Law Firm in Foreclosure Case By AMIR EFRATI A Florida state-court judge, in a rare ruling, said a major national bank perpetrated a “fraud” in a foreclosure lawsuit, raising questions about how banks are attempting to claim homes from borrowers in default. The ruling, made last month in Pasco County, […]

Tags: affidavit, AMIR EFRATI, Anthony Rondolino, assignment of mortgage, David Stern law firm, disclosure, Fla., Florida, foreclosure defense, Forrest McSurdy, fraud, fraud upon the court, GMAC Mortgage LLC, Harpster, HERS, Judge Lynn Tepper, Law Offices of David J. Stern, Lender Liability, securitization, St. Petersburg, Steve Dale, trustee, U.S. Bank, Wall Street Journal, Wells Fargo
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see Magnetar%20Mortage%20Recovery%20Backstop%20Whitepaper%20Jun09.pdf Magnetar Mortage Recovery Backstop Whitepaper Jun09 Two things jump out at me with this paper from June, 2009. First it is obvious that the “real money” investors are defined as those seeking low risk and willing to take lower yield. The fact that they are called “Real Money Investors” underscores my point about […]

Tags: "true" fair market value, borrower, creditor, DEBTOR, fair market value, HERS, identity of the creditor, infrastructure, Investor, Magnetar, Moral Hazard, mortgage backed securities, mortgage modification, principal reduction, real money, real money investors, REAL PARTY IN INTEREST, recovery, risk, status quo, whitepaper, yield
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Nobody ever thought that returning a lady’s purse to her after a purse snatcher ran away with it was a gift. So why is anyone contesting returning the purse to homeowners who had their lives snatched from them? The baby steps of the Obama administration are frustrating. Larry Summers, Tim Geithner and those who walk […]

Tags: Appraisal, credit default swaps, false assumption, false rating, false value, Federal Bailout, foreclosure, homeowners, illegal fees, insurance, interest rate reduction, Larry Summers, loan product was viable, modification, Obama administration, principal reduction, release, servicers, temporary modification called a "trial", Tim Geithner
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