Archive for 'Uncategorized' Category
see https://www.npr.org/2021/12/13/1063767973/saule-omarova-gets-candid-banks-sank-her-nomination-to-head-occ Sheila Bair was forced to resign as head of the FDIC. Very few people remember that Obama made her resign. That means she was fired. She objected to the “save the banks” strategy started by the Bush administration in 2008 and continued by the Obama, Trump and Biden Administrations. All of them are […]
The only thing Judges have heard from all corners of the body politic is that the transactions with homeowners were in fact loans — frequently admitted by homeowners who are equally ignorant — and that any other legal approach (to foreclosures) would give an undeserved windfall to homeowners — which would somehow undermine the entire […]
Although I am qualified to practice in bankruptcy court, I do not consider myself to be a competent qualified bankruptcy lawyer. On bankruptcy questions, you absolutely need to consult with a bankruptcy lawyer who only does bankruptcy. * The filing of a bankruptcy petition starts an administrative process that includes some elements of litigation, including […]
EVERYONE IS GETTING A PIECE OF THE SECURITIZATION PIE EXCEPT CONSUMERS WITHOUT WHOM IT WOULD NOT EXIST Retailers are NEVER going to challenge what Wall Street is doing to consumers because virtually everything is sold with an offer to make installment payments — which in turn results in the sale of securities far in excess of […]
There is an important difference between sending letters to regulators complaining about lack of action on behalf of consumers and sending a QWR, DVL and complaints to CFPB and State Attroeny General on specific cases. The first one is a political act, not likely to produce results unless millions of people join with you in […]
There is a difference between securitization, on the one hand, and securitization of debt, on the other. They are not the same thing. The entire scheme that is currently advertised or represented as securitization of debt is false. Securitization refers to the creation, issuance, sale and trading of securities. There is no doubt that securities […]
https://www.forbes.com/advisor/debt-relief/using-debt-verification-debt-validation-letters/ It’s a business. Anyone can make a claim. Anyone can say that they are representing someone who has a claim. If you don’t contest it, the claim might be presumed as valid even though it has no basis in fact. The investment banks don’t want you to read articles like the above link in […]
Thursdays LIVE! Click in to the WEST COAST Neil Garfield Show with Charles Marshall and Bill Paatalo Or call in at (347) 850-1260, 6pm Eastern Thursdays The legal case of US Bank (trust) v. UBS (United Bank of Switzerland) Real Estate was decided in 2016 in SDNY. The order following decision extends for literally more than 100 pages. […]
The following link leads to an oversimplified chart of a conventional loan transaction, leaving out the actual people at each step and leaving out several of the computer servers: CHART: Conventional Loan Transaction Most people don’t have any idea about the number of steps and the number of people in the number of vendors that […]
Like everything else, “servicer advances” is a false label. There is no money being advanced. But there is money received by institutional investors who bought certificates under the mistaken belief that they were mortgage-backed securities. They receive that money regardless of whether or not payments are made by homeowners. The test for whether or not […]
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