contrary to popular belief, if the foreclosure is allowed, no trust, no beneficiary, no certificate holder, and no trustee or servicer is ever going to see the money proceeds from the liquidation of the property. I received a chat question from a reader with whom I frequently converse. I'm being foreclosed by US Bank the "trustee" of a "trust" who…[...]
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This quote is incorrect: "The judges have a duty to see this and turn a blind eye." Judges have no duty to see anything other than what is in the court record. They also have no duty to inquire. The fact that they might do so in one case or another does not create a duty. It only means they…[...]
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Ocwen is the parent company, and PHH is said to be a subsidiary and subservicer in charge of underperforming or nonperforming accounts. Those who read these pages know that I have taken the position, successfully in many court cases, that Ocwen is not doing anything, and neither is PHH. They are fronts for third-party FINTECH companies (mainly CoreLogic, FiServ and…[...]
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The absence of an unpaid loan account on the books and records of the alleged "successor lender" is all you need to defeat the foreclosure, and that is also sufficient to tee up the case for a lawsuit for wrongful foreclosure. About 1/3 of inquiries made to my office at least mention forgeries. Yes, they are probably correct. But there…[...]
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Several people have greeted the latest news with a yawn. It's about the 5th Circuit Court of Appeals opining that the CFPB funding was contrary to the required constitutional separation of powers --- and, therefore, could not legally do anything. Most readers seem to think that there is no help coming from the Federal government and that the burden of…[...]
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Stop thinking that you know all about finance, law and lending. If you assume that you know absolutely nothing and that you want to know absolutely everything, you will get better terms in a transaction and a much higher likelihood of winning in litigation. (1) you want someone, anyone who will attest to the fact that they are the owner…[...]
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Settlements virtuallya dmitted virtual fraud but failed to protect consumers/homeowners
Oct 20, 2022
Some people have discovered that in the settlements that have been published, the major financial institutions and the governments of various states have agreed to programs in which monetary relief was granted to the states, but not the homeowners to any material degree. The recognition that false documents were being used to make claims of administration, collection, and enforcement of…[...]
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The latest decision striking the funding of the CFPB is a perfect example of that impact. The fifth circuit Court of Appeal has made circular logic into an art form. * Congress passed the statutory authority and charter for the CFPB to act. Congress passed the statutory authority for the CFPB to be funded up to a certain amount and…[...]
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The only beef I have with the article cited in the link below is that it fails to ask, "why?" Why were fabricated documents needed at all? Why was MERS needed at all? Why were "servicers" needed at all? The rise of "servicers" only occurred within a specific period in a very specific sector of the marketplace. And they performed…[...]
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The simple answer is because they are robbing you blind. And you are blind because they are hiding behind multiple layers of curtains. * see https://wallstreetonparade.com/2022/10/casino-banking-wall-street-mega-banks-traded-more-in-their-federally-insured-bank-than-the-total-for-their-bank-holding-company/ * The article in the above-referenced link says that regulators need to pull their heads out of the sand. The obvious problem is that legislators and regulators are prospective employees of the originators of…[...]
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