Hat tip to Ken McLeod and to Ron Ryan who argued endlessly that the former ruling was wrong in Arizona. Ron Ryan is a good lawyer and Ken McLeod is a good investigator. Both have years of experience investigating, analyzing and fighting illegal foreclosures. Courts are catching on and as I have predicted, the ultimate determination of the merits of…[...]

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Tags: BURDEN OF PROOF, home mortgages, Merritt v Countrywide, rescission, table funded loans, tender
Posted in Corruption, discovery, evidence, foreclosure defenses, Modification, Pleading, Servicer |

As further corroboration of the articles on this site and an infinite number of mainstream and not-so-mainstream sites, the banks sold mortgage bonds to investors under the presumption that the risk of loss was nearly zero. If done properly, securitization works. It gives a greater opportunity to more people to get home loan and other kinds of credit financing. And…[...]

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Tags: bad loans, discrimination in lending, JPMorgan, MIami
Posted in Corruption, evidence, expert witness, foreclosure defenses, Modification, Pleading, Servicer |

In order to understand how the banks made money creating a void and then filling it with what I call a tier 2 yield spread premium, trading withe investors money, and avoiding the trust entirely, you should read the articles relating to the Volcker rule, where "proprietary trading" is frequently put in quotation marks. The banks were essentially treating all…[...]

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Tags: actual creditor, documentation without loan, loan without documentation, proprietary trading, standing, tier 2 premium, volcker rule
Posted in Corruption, discovery, evidence, foreclosure defenses, Modification, Motions, Pleading, securities fraud, Servicer |

So let's say you are thinking that those deadbeat borrowers are just trying to get out of debts they owe. And to spice things up the borrowers say it is the bank who screwed everything up, not me. And you laugh at their pathetic attempt to save face when all they do is spend money doing nothing at all to…[...]

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Posted in Uncategorized |

THE PERFECT CRIME: THE VICTIMS DON'T KNOW ANYTHING WHY INVESTORS AND BORROWERS SHOULD GET RID OF THE SERVICERS AND REPLACE THEM WITH SERVICING COMPANIES THEY CAN TRUST TO MITIGATE THE LOSSES CAUSED BY INVESTMENT BANKS HOW? It is simple: since the perpetrators ignored the REMIC trust, didn't fund them and never intended to actually have the REMIC trusts own the…[...]

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Tags: ARIZONA, assignment fabricated, First Magnus, foreclosure, lender, Merendon Mining, Saxon, Substitution of Trustee, Vasquez
Posted in Corruption, evidence, expert witness, foreclosure defenses, Modification, Pleading, Servicer |

Hat Tip to Dan Edstrom in Northern California, our senior securitization analyst for finding this report. Investors Have Had Enough!! "If Citibank wants to settle with the Justice Department and [Attorney General] Eric Holder, that's fine. Just please don't settle with investors' money. Because that's whose money it is," Fiorillo says. "It's not Citibank's money. I've said it 100 times…[...]

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Tags: DoubleLine Capital LP, Vincent Fiorillo
Posted in Corruption, evidence, foreclosure defenses, Modification, Pleading, securities fraud, Servicer |

Housing Wire, Ben Lane (see link to article below): "Bank committed fraud in order to show ownership." We are entering the 6th inning of the game started by Wall Street when it created the smoke and mirrors game based upon false claims of successors and securitization. As lawyers actually do the work investigating and researching, they are getting results that…[...]

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Tags: Assignment and ASsumption Agreement, Chase Bank commits fraud, dual, dual tracking, falsify documents, pretender lenders, public policy
Posted in Corruption, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Motions, Pleading, Servicer |

I recently had a case in which the issue of standing, ownership and modification of the loan were all at issue. The case is an example of what happens when the parties purportedly representing the GSE's bring a foreclosure action in the name of Fannie or Freddie, and then offer through a servicer (authorized or unauthroized). This is why Fannie…[...]

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Posted in Uncategorized |

When will borrowers be allowed to use nominees at loan closings? Will they be able to say later that off-record transactions prevent the lender from enforcing loans? Even the premise that MERS "enables" the REMIC Trust to claim innocence in LENDER mortgage fraud, is flawed: none of them claim the status of holder in due course because they cannot produce…[...]

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Posted in Uncategorized |

I have been receiving increasingly urgent and frustrated messages from lawyers in nonjudicial cases. They are dismayed that the most basic components of proof are not required from "new" trustees on deeds of trust and "new" beneficiaries on the deed of trust, all self proclaimed and presumed valid even if the borrower denies it. Here is my answer: I think…[...]

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Tags: due process, EQUAL PROTECTION, nonjudical procedure
Posted in Corruption, evidence, foreclosure defenses, Modification, Pleading, Servicer |