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Just because you see a picture of a duck doesn't mean it can poop on your patio

Nov 11, 2022
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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Now that the election is over, start writing to senators and representatives in state and federal government.

Nov 10, 2022
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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How Wall Street escaped most liability for blatant violations of lending and servicing statutes.

Nov 9, 2022
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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Servicer compensation

Nov 8, 2022
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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Where's Waldo? You need to stare at something for a while before you see everything.

Nov 7, 2022
While I was doing a CONSULT for someone, a reminder popped up on my computer screen relating to a statement sent under the letterhead of "Shellpoint." Since securitization is a game of musical labels, the name "Shellpoint" seems especially appropriate. And knowing the culture of investment banking (having been an investment banker), it is likely that this was intentional. Investment…[...]

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Ignorance of law, accounting, bookkeeping and financial reporting leads to arguments and assumptions about futility

Nov 4, 2022
Let me first state that in 16 years of public appearances, presentations at CLE seminars for litigators and bankruptcy lawyers, thousands of articles published in 26 countries, and thousands of cases litigated in court, there has been only icy silence from Wall Street as to my criticism of the financial system, the political system, and the judicial system as to…[...]

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"Experts" and Fact Witnesses

Nov 3, 2022
A lot of people contact me asking for an expert report. Most have no education, training, knowledge, or experience in using the testimony or report of a witness claimed to be an expert. The problem is compounded by the inability of the homeowner, or the lawyer for the homeowner, to do what every trial lawyer does with every expert witness…[...]

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You Are Not Securitizing Debt If You Are Not Securitizing Debt

Nov 2, 2022
In reviewing thousands of cases personally and reviewing the work done by dozens of other forensic reviewers, I have not found a single instance in any homeowner transaction where, at the time of the claim, the implied loan account was either alleged to exist or did exist. The entire case always rests upon legal arument that the lawyers need not…[...]

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An example of why people hate lawyers and the courts: Splitting Hairs

Nov 1, 2022
The problem here is the lack of information that is provided to victims of fraudulent foreclosure. You are perfectly correct that no economic or financial loss is attributed to a loss of value or a loss posted to an unpaid loan account. * There are two problems. * One is that if you examine the pleadings, correspondence notices, and statements,…[...]

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Virtual Securitization, Virtual Assignments and Virtual Title: None of them are real. Ask any lawyer.

Oct 31, 2022
"We all know that the loans were securitized. I mean, that is well established." That entire statement is wrong even if it is repeated ad nauseum and the homeowners and lawyers who accept the idea that parts of it might not be true are generally successful (65%) in court. The execution of a document is generally presumed to mean that…[...]

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    FluentNHibernate.Cfg.FluentConfigurationException: An invalid or incomplete configuration was used while creating a SessionFactory. Check PotentialReasons collection, and InnerException for more detail. ---> Microsoft.Data.SqlClient.SqlException (0x80131904): Cannot open database "dealeron" requested by the login. The login failed. Login failed for user 'default'. at Microsoft.Data.SqlClient.ConnectionPool.WaitHandleDbConnectionPool.TryGetConnection(DbConnection owningObject, UInt32 waitForMultipleObjectsTimeout, Boolean allowCreate, Boolean onlyOneCheckConnection, DbConnectionOptions userOptions, DbConnectionInternal& connection) at Microsoft.Data.SqlClient.ConnectionPool.WaitHandleDbConnectionPool.TryGetConnection(DbConnection owningObject, TaskCompletionSource`1 taskCompletionSource, DbConnectionOptions userOptions, DbConnectionInternal& connection) at Microsoft.Data.ProviderBase.DbConnectionFactory.TryGetConnection(DbConnection owningConnection, TaskCompletionSource`1 retry, DbConnectionOptions userOptions, DbConnectionInternal oldConnection, DbConnectionInternal& connection) at Microsoft.Data.ProviderBase.DbConnectionInternal.TryOpenConnectionInternal(DbConnection outerConnection, DbConnectionFactory connectionFactory, TaskCompletionSource`1 retry, DbConnectionOptions userOptions) at Microsoft.Data.ProviderBase.DbConnectionClosed.TryOpenConnection(DbConnection outerConnection, DbConnectionFactory connectionFactory, TaskCompletionSource`1 retry, DbConnectionOptions userOptions) at Microsoft.Data.SqlClient.SqlConnection.TryOpen(TaskCompletionSource`1 retry, SqlConnectionOverrides overrides) at Microsoft.Data.SqlClient.SqlConnection.Open(SqlConnectionOverrides overrides) at Microsoft.Data.SqlClient.SqlConnection.Open() at NHibernate.Connection.DriverConnectionProvider.GetConnection(String connectionString) at NHibernate.Connection.ConnectionProvider.GetConnection() at NHibernate.Tool.hbm2ddl.SuppliedConnectionProviderConnectionHelper.Prepare() at NHibernate.Tool.hbm2ddl.SchemaMetadataUpdater.GetReservedWords(Dialect dialect, IConnectionHelper connectionHelper) at NHibernate.Tool.hbm2ddl.SchemaMetadataUpdater.UpdateDialectKeywords(Dialect dialect, IConnectionHelper connectionHelper) at NHibernate.Tool.hbm2ddl.SchemaMetadataUpdater.Update(ISessionFactoryImplementor sessionFactory) at NHibernate.Impl.SessionFactoryImpl..ctor(Configuration cfg, IMapping mapping, Settings settings, EventListeners listeners) at NHibernate.Cfg.Configuration.BuildSessionFactory() at FluentNHibernate.Cfg.FluentConfiguration.BuildSessionFactory() ClientConnectionId:f5dac539-b1c9-4f0c-888f-daf04accf3bf Error Number:4060,State:1,Class:11 --- End of inner exception stack trace --- at FluentNHibernate.Cfg.FluentConfiguration.BuildSessionFactory() at SITESAA.Infrastructure.DataLayer.Contexts.DatabaseContext.LoadSessionFactory() in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Infrastructure.DataLayer/Contexts/DatabaseContext.cs:line 37 at System.Lazy`1.ViaFactory(LazyThreadSafetyMode mode) --- End of stack trace from previous location --- at System.Lazy`1.CreateValue() at SITESAA.Infrastructure.DataLayer.Repositories.DealerHeaderRepository.GetDealerIdByHost(String hostname) in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Infrastructure.DataLayer/Repositories/DealerHeaderRepository.cs:line 10 at SITESAA.Infrastructure.Services.Caching.Providers.RedisCacheProvider.<>c__DisplayClass21_0`1.b__0() in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Infrastructure.Services/Caching/Providers/RedisCacheProvider.cs:line 81 at SITESAA.Infrastructure.Services.Caching.Providers.RedisCacheProvider.Cached[T](String key, Int32 expirationInMinutes, Func`1 functionWithPayloadWhichWillBeCached, CachingType cachingType) in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Infrastructure.Services/Caching/Providers/RedisCacheProvider.cs:line 81 at SITESAA.Infrastructure.Services.Caching.Providers.MemoryCacheProvider.<>c__DisplayClass13_0`1.b__0() in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Infrastructure.Services/Caching/Providers/MemoryCacheProvider.cs:line 85 at SITESAA.Core.Helpers.Timer.Time(Action functionToBeTimed) in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Core.Helpers/Timer.cs:line 21 at SITESAA.Infrastructure.Services.Caching.Providers.MemoryCacheProvider.Cached[T](String key, Int32 expirationInMinutes, Func`1 functionWithPayloadWhichWillBeCached, CachingType cachingType) in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Infrastructure.Services/Caching/Providers/MemoryCacheProvider.cs:line 84 at SITESAA.Core.DomainServices.Caching.Providers.CacheProviderBase.Cached[T](String key, Func`1 functionWithPayloadWhichWillBeCached) in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Core.DomainServices/Caching/Providers/CacheProviderBase.cs:line 37 at SITESAA.Presentation.Infra.WebRequestService.GetHostDealerId(String hostName) in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Presentation.Infra/WebRequestService.cs:line 412 at SITESAA.Presentation.Infra.WebRequestService.GetDealerId() in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Presentation.Infra/WebRequestService.cs:line 192 at SITESAA.Module.CompositionRoot.ApplicationServices.<>c.b__4_0(IServiceProvider sp) in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Module.CompositionRoot/ApplicationServices.cs:line 109 at ResolveService(ILEmitResolverBuilderRuntimeContext, ServiceProviderEngineScope) at ResolveService(ILEmitResolverBuilderRuntimeContext, ServiceProviderEngineScope) at ResolveService(ILEmitResolverBuilderRuntimeContext, ServiceProviderEngineScope) at ResolveService(ILEmitResolverBuilderRuntimeContext, ServiceProviderEngineScope) at Microsoft.Extensions.DependencyInjection.ServiceLookup.ServiceProviderEngineScope.GetService(Type serviceType) at lambda_method14(Closure, Object, HttpContext, IServiceProvider) at SITESAA.Presentation.Infra.Middleware.StaticDependencyInjectionShimMiddleware.InvokeAsync(HttpContext context, IDealerService dealerService, IDealerAddressService dealerAddressService, IDealerOrganizationService dealerOrganizationService, ILocationService locationService, ICustomizationService customizationService, IOemProgramService oemProgramService, IPrivacySettingsService privacySettingsService, IWebRequestService webRequestService, PlatformOptions platformOptions, IVehicleRefService vehicleRefService, CacheOptions cacheOptions, MemoryCacheProviderBase memoryCacheProvider, ICacheProvider cacheProvider, IConnectionMultiplexer connectionMultiplexer, ILoadDealerService loadDealerService, IRelayControl relayControl, IDealerFeatureRingProvider dealerFeatureRingProvider) in /home/ado-agent/agent/_work/3/s/SITESAA/Source/SITESAA.Presentation.Infra/Middleware/StaticDependencyInjectionShimMiddleware.cs:line 67 at Microsoft.AspNetCore.Diagnostics.DeveloperExceptionPageMiddlewareImpl.Invoke(HttpContext context) HEADERS ======= Accept: */* Host: prod-web-5.ashburn.edealertools.com User-Agent: Blog Loader X-Dealer-Hostname: prod-web-5.ashburn.edealertools.com