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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"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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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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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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