INTERESTING NUCLEAR OPTION: "A credit bid submitted by anyone, whether authorized or not, might well be an admission (or at least a question of fact allowing the homeowner to go forward in discovery) that the amount owed was far less than the amount demanded in the Notice of Default and demands for collection. The point is not just that the…[...]

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Tags: credit bids, deficiency judgment, discovery, fair market value, overage, wrongful foreclosure
Posted in bubble, Corruption, Eviction |

The REMICS are mirror images of the NINJA loans --- no income, no assets, no job the borrower did not realize that the false appraisal and other deficiencies in underwriting had shifted the risk of loss to the homeowner and the investors Editor's Notes: Our economy and the economic structure in other countries is stuck because of the false appraisal…[...]

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Tags: appraisal fraud, common law fraud, compensatory damages, deceptive lending, exemplary damages, Federal reserve, NINJA, Ponzi scheme, punitive damages, REMIC, RICO Fraud, risk of loss, TILA, treble damages, underwriting committee, underwriting standards, wrongful foreclosure, wrongful lending
Posted in bubble, Corruption, Eviction, securities fraud |

You can consider this an open letter to Bar Associations across the country who are accrediting Seminars for CLE credits. From what I have seen (by attending by myself), listened to (ordering the CD or DVD), and heard from dozens of lawyers attending other seminars regarding foreclosure defense, there is only one point of view that is being presented: the…[...]

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Tags: Bar Associations, CLE seminars
Posted in bubble, Corruption, Eviction, securities fraud |

WHERE ARE THE TRIALS? Editor's Analysis: There are only two choices here: either the insurer knew that the loans were bad or was misled into thinking the loans were good. Or to be more specific, it knew that the mortgage BONDS were bad or it was misled into thinking the BONDS were as GOOD as represented. It's not hard to…[...]

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Tags: BofA, countrywide, MBIA, TRIIALS
Posted in bubble, Corruption, Eviction, securities fraud |

FROM Nancy Koerber, someone I deeply admire: I won't mince words:  If we're going to win this thing, we need everyone to double-down on their efforts. The big banks are targeting state capitals and city mayors... "The bank registered more than 150 lobbyists in 31 state capitals in 2012, according to an Observer review of state lobbyist registration rolls. That’s an…[...]

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Posted in Uncategorized |

Editor's Comment: Barry Fagan is pulling out the stops and challenging the CA AG to do her job. I am surprised that those who specialize in administrative law have not used the presumed findings of several Federal and State agencies as to a pattern of conduct that is fraudulent and which requires forgery to proffer in court and perjury to…[...]

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Tags: administrative law, attorney general, Barry Fagan, CALIFORNIA, criminal law, Harris, Wells Fargo
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Comment: "Reckless?" No, it was intentional. And THAT lies at the heart of the media and government perception of this entire securitization scam. The worse the loan, the more money they made. By insuring it for 100 cents on the dollar they received total payback, plus they probably got the honor of foreclosing on the home, when they never…[...]

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Tags: Libor, proprietary trading profits, Wells Fargo
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's comment: While I agree with the Appellate Court and its findings, reversing the judgment against the borrower for being a vexatious litigant, I strongly disagree with the characterization of the case which probably comes from bad pleading and bad argument in court. That is the danger of going into court without at least getting a consult from a knowledgeable…[...]

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Tags: admissions, credit default swaps, Deny and Discover, federal abilouts, Federal Reserve purchases, insurance, payments, pleadings, princnipal, settlements with investment banking firms
Posted in bubble, Corruption, Eviction, securities fraud |

CREDITOR HAS BEEN PAID The complexity and shroud of mystery surrounding claims of securitizations, assignments etc can be simplified if you just look at the money. This is why I have forensic auditors who chase this information down. Call living lies customer service 520-405-1688 if you can't find an adequate analyst of your own who REALLY dig in. What money…[...]

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Tags: balance due, CDS, co-obligors, credit bid, creditor, foreclosure settlements, insurance, mortgage bond
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Note: Here is a memo I received on a case with which I am assisting. It clearly shows three different stakeholders showing three different amount in arrears. Lawyers who take note of these things often get the Motion to Lift Stay denied, the motion to dismiss denied and the motion for summary judgment denied. That puts the case into…[...]

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Tags: multiple creditors, Residential Funding, US BANK
Posted in bubble, Corruption, Eviction, securities fraud |