“We already see how AI tools can turbocharge fraud and automate discrimination, and we won’t hesitate to use the full scope of our legal authorities to protect Americans from these threats,” said FTC Chair Lina M. Khan. “Technological advances can deliver critical innovation—but claims of innovation must not be cover for lawbreaking. There is no AI exemption to the laws…[...]

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According to recent reports: MSR trading volume this year is on pace to meet or exceed last year’s robust mark, when some $1 trillion in MSRs exchanged hands — then fueled by the spike in interest rates. The trading volume of MSRs so far this year is on pace to meet or exceed last year’s robust mark, when some $1…[...]

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Posted in Corruption, securities fraud |

Whenever anyone refers to your transaction as a loan, you should be objecting at the earliest possible moment (or else it is waived), and you should be moving to strike the phrase from the court record. But you need to do so properly. * Up until now and for the foreseeable future, homeowners will continue to lose their cases by either waiting…[...]

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People familiar with my victories in court frequently ask for a list of generic questions that they hope will work in every case. Lay people are not rained to think within the context fo the rules of civil procedure or motions required to force the opposing side to comply with those rules. * There are plenty of POSSIBLE questions and…[...]

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The mega banks are reporting higher profits that were most likely created years ago and stuffed into offshore repositories in off balance sheet transctions. From 1998 to 2008, they siphoned trillions of  dollars out of the US economy using worthelss and faslely represented "Mortgage-backed bonds." How is it that both manufacturing and services declined over the last 40 years while…[...]

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You are completely correct to say that modification of a contract is not possible without the parties to that contract agreeing to modify. Even a court may not modify that contract unless it contains something that is patently unlawful. * And in the case of documents proffered by lawyers who imply that they have been retained by and represent a…[...]

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Most homeowners will continue to ignore such pronouncements that fail to give relevant examples. Most lawyers are too lazy or presumptive to research the issue and seek advice from experts who actually are competent to comment on investment banking applied to the loan market. But since the implied unpaid loan account does not exist and the designated party as claimant…[...]

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Hat tip to Elle She raises probably the most important problem confronting homeowners in conflict with pretender lenders. "what if the witness is clearly lying, but it is affecting the judgment of the presiding judge?" The procedural answer is that even if it is clear to you and the rest of the courtroom, once the judge says the light was…[...]

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Under the category of "WAIT! WHAT? The Securities and Exchange Commission's (SEC) renewed proposal to prohibit conflicts of interest in securitizations is critically flawed and would impose significant impediments to the ongoing functioning of the assetbacked securities market, industry advocates said recently. Seee https://asreport.americanbanker.com/news/damage-to-financial-markets-and-economy-feared-from-secs-abs-proposal It is astonishing that anyone could say that with a straight face. The fact is that…[...]

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Hat tip to summer chic. I might add a hat tip to some State and Federal agencies that are waking up and trimming the edges around the false claims implied to support the remedy of foreclosure. Things are changing -- and before the banks manage to use their influence in state and federal legislatures, homeowners would be doing themselves and…[...]

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