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The problem with all this is that the REMIC Trust never received the proceeds of sale of the MBS and therefore could not have paid for or purchased any loans. It had no assets. And THAT is why the Trust never shows up as a Holder in Due Course (HDC). HDC is a very strong […]
http://www.dailykos.com/story/2016/9/24/1572040/-Five-questions-with-David-Dayen-about-foreclosure-fraud-activism-and-hope David Dayen (dday to old-timers at Daily Kos) has been the most single most dogged journalist digging into the massive fraud perpetuated on American homeowners in the last decade, the fraud that almost brought down the global economy. In fact, he wrote the book on it—Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great […]
“Defendant Wells Fargo’s deceptive and intentional conduct displayed a complete and total disregard for the rights” of the couple, wrote Judge Elliott, a circuit judge in the 43rd Judicial District of Missouri. “Wells Fargo took its money and moved on, with complete disregard to the human damage left in its wake.” see http://www.nytimes.com/2016/09/22/business/in-wells-fargos-bogus-accounts-echoes-of-foreclosure-abuses.html?_r=0 Gretchen Morgenson […]
Thursdays LIVE! Click in to the The Neil Garfield Show Or call in at (347) 850-1260, 6pm Eastern Thursdays At a time when approximately two percent of legal disputes are ended by a trial, the walk-up to trial itself is often a game of negotiation and posturing. The strategy is to stick with an improbable […]
http://www.nytimes.com/2016/09/22/business/in-wells-fargos-bogus-accounts-echoes-of-foreclosure-abuses.html John Stumpf, the chairman and chief executive of Wells Fargo, won a dubious achievement award from one of his interrogators during Tuesday’s scorching hearings on Capitol Hill. The bank’s yearslong practice of opening bogus accounts for customers and charging fees to do so, said Senator Jon Tester, Democrat of Montana, had united the Senate […]
Hat tip to David Belanger see utc_final_rev2010 see also utc-itc Readers and analysts should refer to this as very persuasive authority and if enacted by the State legislature, it is the law. But this is not the Uniform Commercial Code. The UCC applies in all cases where paper instruments are involved and transfers of that […]
Everyone is reporting balance sheets with assets that derive their value on one single false premise: that the trusts that issued the original mortgage bonds owned the loans. They didn’t. SUPPORT LIVINGLIES! Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments. ======================== This article is not a substitute for an opinion and […]
The DOJ continues to participate in this PR scheme to keep people from asking — “if everything was so illegal at the top of this food chain, why are we treating the bottom of the food chain as presumptively legal?” THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL […]
It’s time to sit up and take notice. Judges are turning the corner and getting pretty angry about what passed before as evidence. In April this order seemed like a shot in the dark. But now, we are seeing more and more judges actually study the chain of alleged transactions relied upon those who seek […]
http://www.reuters.com/article/idUSFit973331 The following statement was released by the rating agency) NEW YORK, September 15 (Fitch) Ocwen Loan Servicing’s (Ocwen) loan modification activity has roughly doubled beginning in July due to the implementation of the Streamline HAMP program, according to Fitch Ratings. Ocwen expects modification activity to remain elevated for several months as a result […]
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