The only party that can make a credit bid (i.e., use the foreclosure judgment instead of paying cash) is one who is still a senior secured creditor as to the property being auctioned. In my review of the results of many auctions it is apparent that a credit bid was submitted by a party relying upon a dubious claim as…[...]

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Tags: Branch Banking v Tomblin, credit bid, Grable v Nunez, judgment creditor, senior creditor
Posted in Uncategorized |

The Bigger Problem: Assignments from Nonexistent Entities Dan Edstrom, senior forensic analyst, highlights a disturbing pattern: what happened in Chase-WAMU and IndyMac-OneWest is being replicated in hundreds of foreclosure chains. Regulators often call these foreclosures merely “faulty.” But when foreclosing parties rely on entities that don’t exist to execute assignments years after bankruptcy, that’s not faulty—it’s fraudulent. And the obvious…[...]

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Tags: Bankrupt, Chase, INDYMAC, Mortgage Lenders Network USA, OneWest, US Bank as trustee, WAMU
Posted in foreclosure defenses, Uncategorized |

There is an old saying on Wall Street that "Bulls make money, Bears make money but Pigs never do." The obvious circumstances of Chase claiming ownership to nonexistent loan portfolios contained within WAMU coupled with the admission in this letter to the FDIC, shows just how arrogant Chase felt when they informed the FDIC that they wanted to get paid…[...]

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Tags: chain of title, Chase, FDIC, JPMC, title defects, WAMU, WMB
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If only all courts would entertain the possibility that everything presented to them should be the subject of intense scrutiny, 90%+ of all foreclosures would have been eliminated. Imagine what the country would look like today if the mortgages and fraudulent foreclosures failed. The Banks say that if the mortgages failed they all would go bust and that there is…[...]

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Tags: DELAWARE, FDIC, GMAC Mortgage, GMACM MORTGAGE LOAN TRUST 2006-J1, MERS, OneWest, REMIC, res, ResCap, trust, United States Bankruptcy Court, WAMU
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It is good that there was a finding that HSBC was found to have engaged in "faulty" foreclosure practices. What is not so good is that there is a direct or implied suggestion that HSBC is now operating within the rules and laws protecting borrowers, consumers and homeowners. That simply is not true. It is also not good that the…[...]

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Tags: HSBC Fine, HSBC Fraud, OCC HSBC
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The stakes could not be higher. Mnuchin's ascension to the position of Secretary of the Treasury is literally installing a person who will merely respond to the direction of the Wall Street bankers and who will be largely unresponsive to whoever occupies the Oval Office. This is a terrible decision and the resistance to him being confirmed must be intense…[...]

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Tags: Chase, INDYMAC, Mnuchin, OneWest, Treasury, Trump, TRUTH, WAMU
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Documents show that state prosecutors and Treasury Department regulators believed Steve Mnuchin's bank was mishandling foreclosures at the height of the financial crisis.   Alexia Fernández Campbell In 2011, at the peak of the housing crisis, regulators for the Treasury Department ordered Steve Mnuchin and directors at OneWest Bank in California to fix the bank’s questionable handling of home loans.…[...]

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Tags: OneWest, The Atlantic
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  [caption id="attachment_35460" align="alignnone" width="494"] Live at 6 pm Eastern with California Attorney Patricia Rodriguez[/caption] Thursdays LIVE! Click in to the The Neil Garfield Show Or call in at (347) 850-1260, 6pm Eastern Thursdays NEW MAIN NUMBER: 202-838-NEIL (6345). Get a Consult!   In this episode Los Angeles based attorney Patricia Rodriguez joins Neil Garfield to discuss Pre-Litigation concerns for…[...]

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http://money.cnn.com/2017/01/04/news/mnuchin-onewest-california-memo/ California investigators wanted to file a lawsuit in 2013 against a bank owned by Steven Mnuchin, President-elect Donald Trump's pick to run the Treasury Department, for misconduct during foreclosures, according to an internal memo obtained by CNN. The memo and a draft civil complaint accused the bank, OneWest, of backdating thousands of documents, violating rules for waiting periods and…[...]

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Tags: OneWest, Steve Mnuchin
Posted in Uncategorized |

Mnuchin is a highly paid gopher. He has made his money not by his business acumen but by his willingness to do anything for money. That included putting himself on the front line of one piece of the greatest economic crime in human history. Nominating him for Treasury Secretary is a direct slap in the face of tens of millions…[...]

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Tags: Backdating, CALIFORNIA, false filings, FINANCIAL FREEDOM, FIRST FEDERAL, illegal credit bids, LA JOLLA BANK, Mnuchin, modification, OneWest, RIGALI, Treasury secretary, TRUTH
Posted in Uncategorized |