Preface: When I received my extended MBA degree with the highest honors, I also taught and tutored other students in accounting and auditing. * I recently received a response sent by SPS as the "servicer." note again that SPS is owned by Credit Suisse, a commercial and investment bank located offshore. The homeowner was understandably confused. There was a reference…[...]

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The point is not the identity of the "holder" of the note. The point is the identity of the party who owns and maintains an unpaid loan account receivable that is due from you to that party. The problem with asking for the identity of the holder of the note is that there is a legal presumption that arises from…[...]

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Take care to distinguish what contract you're talking about.  If you receive money, the law says you must give it back unless it was payment for something or it was a gift. In that sense, the law imposes a contract on people even if they are not thinking about or writing a contract. * In fact, even if there is…[...]

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Disclaimer: This article is for educational purposes only and does not constitute legal advice. Always consult with a licensed attorney regarding your specific case. The Role of Business Records in Foreclosure Cases Any experienced foreclosure defense litigator will tell you: nearly every foreclosure case today relies on business records as the primary evidence that a loan account exists and that…[...]

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Homeowners (and my readers, in particular) are completely correct in asserting at least the appearance of corruption by judges. Virtually all of them have their retirement invested partially or even mostly in funds that rely heavily on purchasing "Mortgage-Backed Securities." Hence, if judges were to rule against the lawyers asserting representation of banks like "U.S. Bank as trustee..." (Blah blah),…[...]

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... the courts have been following an illegal doctrine for about 25 years. It is called "The Homeowner Should Always Lose." This is closely related to the corollary doctrine of "False  Foreclosure Claims Should be Allowed to Prevent Economic Disaster." Besides foreclosure litigation, several rules and laws limit how long a claimant in civil litigation can drag out their claim.…[...]

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Someone once asked me if "securitization" was actually a hologram. My answer was that it is a hologram of an empty paper bag. He ran with that and made millions defending homeowners. All he did was demand corroboration of the facts that the lawyer for the foreclosure mill wanted the court to presume from the apparent facial validity of the…[...]

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MAKE SOME NOISE I am proposing that homeowners start petitions and complaints to government agencies and to US Senators US Representatives, State Senators, and State Representatives. With the election over, they have the time to do their job instead of focusing on getting elected or re-elected. I have been corresponding with activists who are doing exactly that and I was…[...]

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The trustee on a deed of trust becomes the owner of the property or perhaps it would be better stated if we said that it was the owner of the title to the property. * In a normal world transfer of the title to the property from one trustee to another is made on behalf of and at the instruction…[...]

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The industry knows there is a gigantic problem surrounding servicer compensation. But there’s a difference between knowing the problem and knowing how to solve it. As Laurie Goodman, codirector of the Housing Finance Policy Center with the Urban Institute, so eloquently put it at a housing policy event on Wednesday, “It is much easier to say the current system does…[...]

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