It seems I stirred up a tempest with my blog this morning. My position is that applying generally accepted accounting principles and the accounting standards promulgated by the FASB, you must accept that Servicer advances are either a third party payment that reduces the account receivable of the creditor, or the advances are without effect because of the agency relationship…[...]

Continue Reading

Tags: account payable, account receivable, FASB, gaap, generally accepted accounting principles, investors, Servicer advances
Posted in Corruption, evidence, Pleading, Servicer |

The following message and article brings up questions that I have been receiving with increasing frequency as homeowners, their forensic analysts and attorney dig further and further. They are following the money and coming up with the fact that servicers are advancing payments to investors when the borrower stops paying. In fact, they advance those payments to investors after the…[...]

Continue Reading

Tags: monthly payments, securitized loans, servicer, UCC
Posted in Corruption, evidence, expert witness, Modification, Pleading, securities fraud, Servicer |

"[Customers and employees] accuse the company of using high-pressure salesmanship to target elderly and vulnerable homeowners, as well as misleading borrowers about their loans, and falsifying property appraisals and other information to push through bad deals.... A group of ex-employees, meanwhile, have gone to federal court to accuse Quicken of abusing workers and customers alike. In court papers, former salespeople…[...]

Continue Reading

Tags: BAC, Bank of America, Bordas and Bordas, countrywide, Dan Gilbert, Jason Causey, Jim Bordas, Judge David J. Sims, Merrill Lynch, Ohio, Quicken Loans, West Virginia, West Virginia Consumer Credit and Protection Act, Wheeling
Posted in Corruption, Eviction, securities fraud, Servicer |

Forbes has taken notice. There is a shift toward borrowers in mortgage litigation. The decision points back to the origination of the loan. This decision follows a similar decision in the 4th circuit. It all comes down to what actually happened at closing? And we don't actually know if the decision to allow rescission indefinitely on second mortgages will extend…[...]

Continue Reading

Tags: banking, foreclosure defense, rescission, TILA, truth in lending
Posted in Corruption, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

BUSINESS DAY | Five Years Later, Poll Finds Disapproval of Bailout The simple answer is yes, there will be another bailout attempt and it appears likely that the Banks will continue to confuse things enough so that it again happens only "this time" there will be some "stern regulations". The reason is not some esoteric financial mumbo jumbo, nor does…[...]

Continue Reading

Tags: bailout, Fannie MAe, Federal reserve, Freddie Mac, U.S. Treasury
Posted in bubble, Corruption, evidence, expert witness, Modification, Pleading, securities fraud, Servicer |

FL 2nd DCA: Focht v. Wells Fargo Bank, N.A. - Foreclosure Judgment Reversed Based on Genuine Issue of Material Fact of Wells Fargo' s Standing http://4closurefraud.org/2013/09/25/fl-2nd-dca-focht-v-wells-fargo-bank-n-a-foreclosure-judgment-reversed-because-judge-had-to-based-on-genuine-issue-of-material-fact-of-wells-fargo-s-standing/ Editor's Comment:  The Court clearly states that if the bank does not  meet the prerequisites of standing at the commencement of the action, the case must be dismissed. But as stated in the concurring…[...]

Continue Reading

Posted in Corruption, Eviction, securities fraud |

"in today's marketplace, they don't want to mitigate damages, they want to mitigate liability to all the people from whom they received money, including the investors." Neil F Garfield, livinglies.me After a nasty bout of the flu I have returned to the world of the living. Here are some comments and links that you should be reading and thinking about.…[...]

Continue Reading

Posted in Corruption, Eviction, securities fraud |

  I have frequently made the point that if you want to protect your case on appeal, you must have a coherent and accurate record established in the court file or you will be shunted away on a technicality of some sort. The strategy I endorse, and the only one I use is aggressive litigation from the start. This alone…[...]

Continue Reading

Tags: court jurisdiction, Pleading, pleading the loan, pleading the loss, PROOF, record on appeal, standing
Posted in Corruption, Eviction, securities fraud |

Writing with the flu. Despite symptoms and medication that makes me dizzy, I feel compelled to write about something that is getting traction out there. The more you look at the false claims of securitization the more it stinks. We are dealing with a system that is based on really big lies. I'm sure our leaders of government have a…[...]

Continue Reading

Tags: law of contracts, mortgage backed securities, mortgage litigation, recording defective mortgages, REMIC TRUST, securities fraud, trustee
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Pleading, securities fraud, Servicer |

If you are seeking legal representation or other services call our South Florida customer service number at 954-495-9867 and for the West coast the number remains 520-405-1688. In Northern Florida and the Panhandle call 850-765-1236. Customer service for the livinglies store with workbooks, services and analysis remains the same at 520-405-1688. The people who answer the phone are NOT attorneys…[...]

Continue Reading

Tags: ARTICLE 77, Bank of America, bank of new york, Madoff, MBS, Mellon
Posted in Corruption, Eviction, securities fraud |