http://www.housingwire.com/articles/35455-dbrs-settles-with-sec-over-misrepresenting-mortgage-bond-rating-capabilities Several things strike me about this event and the reporting on it: A relatively small rating agency has been thrown under the bus and has agreed to pay a fine for something we have known for nearly 10 years --- the ratings of so-called mortgage backed securities were a sham and continued to be a sham. "the SEC determined…[...]

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For further information please call 954-495-9867 or 520-405-1688 This is not a legal opinion. It is for general information only. Seek legal advice before acting or making any decision. ============================ "REMIC TRUST PAYMENTS ADRIFT AFTER LOSING CLARITY OF THEIR SAFE HARBOR" 8 years ago the Fordham Law Review published an article entitled "Will the Real Holder in Due Course Please…[...]

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I don't know what is different, but it looks like we are making progress at building an effective team to help lawyers, accountants, homeowners and others with consumer debt. Perhaps it is because people started looking back at my original writing starting back in 2007 and realized that I correctly analyzed and predicted the progress although I missed the timing.…[...]

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For more information please call 520-405-1688 or 954-495-9867 This is for general information only and is not a substitute for legal advice. ================================== I had occasion to respond to some people who are still confused about rescission. My answer is that it is too simple to fathom because this is exactly what Congress wanted to do to banks who violate…[...]

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Hat tip to Patrick Giunta, Esq. for sending me this article. Very interesting that it was written in 2011. ANALYSIS: It seems fair to say that the Courts are not willing to find a contractual obligation exists under State Law until a true and actual lender is identified. “Pretender lenders” – as Neil Garfield calls them – and intermediary “originators”…[...]

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A quick note on the subject of criminal prosecution of bankers. The excuse is the four dog defense. As a refresher, the first part is "I don't have a dog." In the case of the mortgage crisis, it started with the banks claiming that trusts, derivatives, mortgage backed securities had nothing to do with the loans. Actually, they were telling…[...]

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I have received a copy of the comments made at a very recent seminar for lawyers who represent the servicers, trustees and the alleged trusts. While they fail to commit to writing the issues regarding standing to challenge a rescission, the rest of it is pretty much spot on. Their message is that ignoring or even rejecting the rescission by…[...]

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Tags: jesinoski, rescission, TILA
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So far I have crashed and burned with trying to get a national or even regional group to meet regularly. The need is there but everyone is expecting me to do it. I don't have enough time in the day to do what I'm doing, so I can help, I can promote, but I can't make this happen. It's like…[...]

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For further information please call 954-495-9867 or 520-405-1688 This is not a legal opinion on any case. Consult with an attorney. ============================= see Rodriguez v. Wells Fargo "The core element concerning to whom the note was payable on the date suit was filed was not proven." Bottom Line: You can't file a lawsuit without standing. Judgment reversed with instructions to…[...]

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Tags: HOLDER, holder in due course, Pleading, PROOF, standing, UCC
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For More information please call 954-495-9867 or 520-405-1688 This is not a legal opinion on any one case. Consult with an attorney before taking any action or making any decisions. ================================= see http://www.newyorklawjournal.com/id=1202739700342/The-Most-Significant-Title-and-Foreclosure-Cases-of-2015?cmp=share_email In an interesting decision a New York State Court put to rest a misconception about the statute of limitations. It could have far reaching consequences. The premise…[...]

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