From Mandelman Matters Blog: Mandelman Blog A few weeks ago, Fannie Mae issued an outright threat to homeowners in this country, creating a new rule that would punish anyone who stops paying their mortgage and walks away from their home, referred to as a “strategic default,” by not allowing those who choose that path to […]

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Over and over again, investors are coming out of the woodwork. When will they realize they are in perfect position to assert ownership of the loans and workout deals with borrowers that make sense to everyone? Goldman Sachs, Citigroup Sued Over Subprime Loans By William McQuillen – Jul 12, 2010 Goldman Sachs Group Inc., Citigroup […]

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AMBAC Assurance Corporation v EMC Mortgage Corp, EDNY.July 9.2010.Motion to Compel Production Now that these venerable institutions have turned into ankle biter’s, their claims to compel production and other forms of discovery are being heard by the same judges that turn down similar claims from borrowers. In this case AMBAC is suing one of the […]

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Investors are starting to wake up. First, they are filing suit in any court of competent jurisdiction alleging fraud in the sale of mortgage-backed securities. As discovery proceeds, they will also discover that despite assurances to the contrary not all of the money they advanced was used for the purchase of mortgage loans. In discovery, […]

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McCaffery DEUTSCH- Court Order re preliminary injunction hearing

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I recently heard that phrase and it motivated me to remind you that we are all leaders. Leaders teach those who notice them as examples or in their roles as rule-makers. In this foreclosure and economic crisis, we all have a pretty good sense of right and wrong. 20 million households have been robbed of […]

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This is what scares the hell out of the pretender lenders. The reason? Because it transfers POWER from them to the borrower. They have embarked on numerous “ventures” in PR, rumors and even attempts at criminal investigations to scare off people from dumping their sour investments. The people who have shared their stories with me […]

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I’ve been getting some “hate mail” from people who obviously have a vested interest in getting a message out that the appraisers did nothing wrong. This is the equivalent of saying the rating agencies did nothing wrong rating securities AAA when they were worthless. The simple facts are that the “lender” had no skin in […]

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JPM’s Jamie Dimon likes to brag and bully people with who he knows and talks to. Well now is his big chance. He gets to talk to the SEC who are investigating the truth about the liabilities and repurchase obligations connected with the mortgage mess. Eventually, the SEC is going to figure out that Dimon’s […]

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FROM A READER IN COLORADO ANSWERING “ANONYMOUS” You raise a good point as to the servicer keep all the payments. As it has been proven in the two WAMU cases I have, the servicer(JPM not Chase Home Finance) is compelling the action under a bogus POA for the trustee. The trustee does not have control […]

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