Editor's note: in preparing a complex motion for the court in several related cases I ended up writing the following which I would like to share with my readers. As you can see, the issues that were once thought to be simple and susceptible to rocket docket determination are in fact complex civil cases involving issues that are anything but…[...]

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Tags: ABN AMRO, acquisition, authority to represent, Bank of America, demand letter, foreclosure, foreclosure defense issues, LaSalle bank, merger, modification, notice of acelleration, Notice of Default, Power of Attorney, reinstatement, rocket docket, sec.gov, servicer, sucessor by merger, trustee, US BANK
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

EDITOR'S NOTE: By popular demand I am writing a new workbook that is up to date on the theories and practices of real estate loans, documentation, securitizations and effective enforcement and foreclosure of the collateral (real property --- i.e., the house). The book will be finished around the end of January. If you want to purchase an advance subscription to…[...]

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Tags: acceptance, assignment, Bench Book, consideration, debt, foreclosure defense, foreclosure defense workbook, Garfield Continuum, Judge Jennfier bailey, loan contract, Mortgage, mortgage transactions, note, note mortgage, offer, securitization, workbook
Posted in evidence, Modification, Motions, Pleading |

I never liked the Capra movie "It's a Wonderful Life," but I never remembered why. Dissapointment. So even though I like to watch my favorite movies more than once, I avoided watching this particular movie. It was just a knee jerk reaction for me. But my daughter and I watched tonight and I saw it through the eyes of a…[...]

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  EDITOR'S NOTE: this is why I am encouraging attorneys to take cases involving foreclosure, even if the foreclosure itself is problematic. The FDCPA federal counterpart essentially states the same rules. These cases allow for damages and recovery of attorney fees that might aid in the cost of protracted litigation by a pretender lender. Most of my clients are receiving…[...]

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Tags: business relationship, categorically, cell, cellular phones, collect a debt, collection, communicate, consumer, Debt Collection, emergency calls, exempt, exempted, exemption, express consent, factual allegations, foreclose, foreclosure, foreclosure action, landline, Mortgage, notice, phone, pre-suit, prerecorded, security interest, servicer, solicitations, telephone, telephone-solicitation
Posted in Corruption, Motions, Pleading, Servicer |

One of the ways that judges are greasing the skids for fraud by the banks is that they ignore the basic requirement of pleading --- that the complaining party plead the existence of a duty of the homeowner, breach of that duty and consequential damages as a result of that breach of that duty by the defendant homeowner. By failing…[...]

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One of the rewarding aspects of what I do is to see more and more people not only hopping on board, understanding securitization, but adding to the body of knowledge I have amassed. In the following article Bill Paatalo, who has done the loan level accounting for many of our readers, expands upon a topic that I have introduced (and…[...]

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Tags: Auction, Bill Paatalo, credit bid, default, foreclosure sale, Notice of Default, Notice of Sale, redemption, reinstatement, standing
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Pleading, securities fraud, Servicer |

I keep getting inundated with creative arguments about the documentation, which is exactly the rabbit hole that the Banks want you to go down. It is a trap. Technical attacks on documentation are not going to win the day because in the end, it is public policy for negotiable instruments to be safe bets in the marketplace. You are not…[...]

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Tags: account payable, account receivable, co-obligors in securitized loan transactions, defective documentation, Servicer advances, third party payments
Posted in Corruption, evidence, expert witness, Modification, Motions, Pleading, securities fraud, Servicer |

It is difficult to state with certainty exactly how many ugly mortgage bonds have been purchased by the Federal Reserve. But if you put pencil to paper we can estimate the number. The published figures indicate there was a purchase of several hundred billion in these defective bonds when the financial collapse occurred. To be on the safe side we…[...]

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EDITOR'S NOTE: The dots are starting to get connected. Here JP Morgan who said they were the successor for everything that was WAMU turns out to be arguing that this didn't actually happen and that some money is still left in the WAMU "estate." The issue that is not raised is what else is in the WAMU estate? I content…[...]

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Tags: Chase, complex litigation, FDIC, foreclosures, JP Morgan, JPM, rocket docket, WAMU, WAMU estate
Posted in Corruption, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

The deal offered to and accepted by the the real lenders (creditors/investors) who ended up being trust beneficiaries to an unfunded trust with no assets, was that there would be multiple co-obligors so there was practically no way on earth that the investor could lose money --- except of course in the case of fraud. AND fraud is what happened…[...]

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