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From “Summer Chic” with some edits The investment banker was acting as the agent or conduit for both the actual creditor (“investor) who was lending the money to an investment bank and the homeowner “debtor” (borrower) was “borrowing” the money. Credit Default Swaps realte not to thye “laons” but rather tot he securities. The payment […]
SECURITIZATION CHANGED THE BARGAIN. ONLY THE FINANCE SIDE GOT WHAT THEY WANTED. People often criticize the points I make an appearance, articles, and pleadings because they think I am raising technical objections that won’t change anything. “You got the loan, didn’t you?” Actually no — virtually none of the transactions with homeowners resulted in anything […]
Here is a line from another lawyer that I spoke with: “The investment banks were not selling securities and they can’t say that they were because if they did say that then they would be saying that they were subject to registration requirements for initial public offerings. Their entire position is based on the assertion […]
I would ask HUD, and CFPB why they are not investigating and fining entities like PennyMac and Wells Fargo who frequently start cases in which the lawyers claim they are the creditor and then later admit to only being the servicer without ever actually identifying the party who maintains and a trust account or a loan account receivable. […]
May everyone welcome the New Year with a sense of “relief in sight.”
OK. This is subject to rehearing, reconsideration and appeal. But in Delaware where the financial industry is coddled to the point of absurdity (statutory trusts are not trusts), this ruling is highly significant. Allow me to say “I told you so.” Here is the decision: REMIC Trust MTD-AC-decision-2021.12.13 Here is an article about the decision […]
see Better%2520Markets%2520-%2520Wall%2520Street%2527s%2520Six%2520Biggest%2520Bailed-Out%2520Banks%2520FINAL.pdf&clen=3848125&chunk=true Out of sign, out of mind. This report correctly describes the total in “bailouts” that went not to depository institutions but to risk-takers and frankly law violators on Wall Street. And part of the “bailout” was that those same businesses were suddenly chartered overnight to be licensed as commercial banking institutions — so […]
People often tell me that they challenged something in court and that the judge completely ignored their challenge. The problem is that most people don’t know the elements of a legal challenge in court. Based upon my review of transcripts, reports, and proffers of evidence and testimony, nearly all such cases consist of raising questions […]
May 2022 bring us security and happiness. Let justice prevail!!! And a BIG Thank You to all my readers and contributors. I could not keep this up without you guys. Best regards, NEIL
Simple answer: pro se litigants can win and do win. But they mostly lose and they lose because they know nothing about court procedure. Competent trial counsel knows his or her way through the treacherous waters of litigation. Homeowners want the courts to do the work but that is not their job. * The cost of hiring competent trial counsel is […]
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