In a perverse way many if not most borrowers lost everything in 4 ways --- their home, their retirement money that was used to fund the loans, their savings that was used to try to save the home and their jobs when upon the largest loss of household wealth in history the economy tanked. It didn't help that corporations were…[...]

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http://www.salon.com/2016/05/19/it_is_happening_again_david_dayen_on_the_epidemic_of_mortgage_fraud_and_the_rigged_economy_that_sets_it_in_motion/ “It is happening again”: David Dayen on the epidemic of mortgage fraud and the rigged economy that sets it in motion David Dayen's new book explores the criminal conspiracy that destroyed the lives of millions Heather Digby Parton David Dayen (Credit: The New Press/lumy010 via iStock/Salon) Earlier this week the New York Times featured a depressing story about homeless people living…[...]

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By William Hudson Banks have used fabricated documents and forged signatures over the past decade to foreclose on homes they don’t own while law enforcement and the courts have intentionally looked the other way. However, attorney Constantine "Chuck" Kalogianis is now in trouble because he has been accused of resorting to the same tactics by altering documents in at least…[...]

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[wpvideo NqykIqTB] Chain of Title should be required reading in every college-level business ethics class in America. At a time when “business ethics” is an oxymoron, perhaps the current generation that adores Bernie Sanders might better understand the dangers big banking monopolies hold. David Dayen’s book, Chain of Title, unearths a system with the power and collateral to stonewall millions…[...]

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Tags: chain of title, DAVID DAYEN, david dayen chain of title, neil garfiled interview david dayen, recipient ida and studs terkel prize, salon writer david dayen
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  "The borrower owes money not to the world at large but to a particular person or institution, and only the person or institution entitled to payment may enforce the debt by foreclosing on the security." "[O]nly the entity currently entitled to enforce a debt may foreclose on the mortgage or deed of trust securing that debt . . .…[...]

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[wpvideo NqykIqTB] Listen to David Dayen tonight on the Neil Garfield Show at 6 pm EST. Click in to tune in The Neil Garfield Show Or call in at (347) 850-1260. Chain of Title should be required reading in every college-level business ethics class in America. At a time when “business ethics” is an oxymoron, perhaps the current generation that…[...]

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Tags: chain of title, DAVID DAYEN, fraud mortgage, ida and studs terkel prize south florida foreclosure, securtization fail
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[wpvideo NqykIqTB] The Neil Garfield Show you can't afford to miss! Listen at 6 pm EST on the Neil Garfield Show Click in to tune in The Neil Garfield Show Or call in at (347) 850-1260, 6pm Eastern Tonight! Salon and recent recipient of the Ida and Studs Terkel Prize,  Author David Dayen joins Neil Garfield tonight on the Neil…[...]

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It seems obvious that if a complete stranger to the transaction (see the wording from the San Francisco study), is attempting to enforce a debt or seek a foreclosure, they should have no rights at all. And if a party accepts a modification application, they are making several representations about their authority and what they will do with the application.…[...]

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Tags: 9TH CIRCUIT, foreclosure defense, foreclosure offense, fraud, modification, Newman, securitization, Yvanova
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assuming the investors got some or all of their investment back, under what circumstances would there exist (a) a default and (b) an enforceable loan contract and (c) ANY definable amount for "reinstatement" required under virtually all written mortgages and notes --- signed only by the homeowner and missing any contract or other document in which the lender agreed to…[...]

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The bottom line is that millions of people have been told that line and most of them stopped paying for three months because of it. It was perfectly reasonable for them to believe that they had just been told by the creditor that they must stop paying if they want relief. Judges have heard this repeatedly from homeowners. So what…[...]

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Tags: in-house modification, LOAN MODIFICATION, Master Servicer, REMIC TRUST, rescission, RESPA, Servicer advances, three month delinquency
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