"You got the loan, didn't you?" The correct answer is "NO." While most Americans understand that Wall Street "securitization" is operating behind the scenes, as consumers they have no knowledge of how this is impacting them. And worse, they like to pretend that they do know. * Millions of American homeowners have been asked the question. And they have answered…[...]

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Alan Greenspan admitted (after the 2008 crash) that he and the rest of the Federal Reserve had made a huge mistake in failing to regulate the creation, sales, and trading of derivatives that were only tenuously linked to the lending marketplace. The securities had no value or known attributes, but Greenspan was operating under the Milton Friedman doctrine that free…[...]

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Just to be clear. * The reports are produced by XYZ financial services (usually FiServ in conjunction with CoreLogic). * The witness who is ostensibly employed by the company that has been designated as  "Servicer" knows nothing about the location, existence, ownership, or authority over any account maintained in the name of the company (ABC BANk --- usually US Bank,…[...]

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A common practice employed by the banks and leave foreclosure mills that represent the banks is to use an instrument purporting to transfer an asset as the foundation for the truth of the matter asserted: that is, that the asset exists. This practice has been heavily litigated over hundreds of years. The simple answer is that a document of transfer…[...]

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The heart of foreclosure defense lies in arcane procedures that occur within the context of discovery during litigation in court. The premise is that neither the foreclosure attorney nor any identified claimant can or will answer questions about the core issues of any foreclosure case ---- the existence, ownership and right to administer, collect or enforce then alleged debt. *…[...]

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see https://abcnews.go.com/US/wireStory/zombie-debt-homeowners-face-foreclosure-mortgages-93383054 The simple story is that three reporters from AP stumbled across a strange story. They discovered that people were being served with foreclosure papers. That was not unusual. What WAS unusual was that the "foreclosures" were based on "loans" that had expired 10 years earlier. And when they made inquiries to the actors who supposedly were named as…[...]

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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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