Thank you to all of you who were able to contribute to our intern program for the summer.  We raised the necessary funds to complete the summer program.  Below are listed some of the accomplishments to date and we still have 6 weeks to go in the program. Our interns have contributed so much to our work over the last…[...]

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Tags: Good grief America, Nancy Koerber, Project REconomy
Posted in bubble, Corruption, Eviction, securities fraud |

CREDITORS CAN ONLY GET PAID ONCE Editor's Note: If you are news junkie like I am and watch and read everything about the financial markets it is absolutely amazing how everyone seem to be in agreement that we are headed for a financial cliff and nobody wants to do anything about it. Sen Merkley, with help from local organizers, is…[...]

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Tags: accounting, appraisal fraud, DeMarco, Housing Wire, John Prior, Oregon, private label securitization, restitution, Senator Jeff Merkley, underwater homes'refinancing
Posted in bubble, Corruption, Eviction, securities fraud |

Today Yesterday Summaries Country United States Canada United Kingdom India Germany Philippines Russian Federation Israel Puerto Rico Mongolia Dominican Republic Denmark[...]

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Posted in Uncategorized |

Editor's Note: In an extremely well-written and well reasoned decision Federal District Court Judge M. James Lorenz denied the Motion to dismiss of US Bank on an alleged WAMU securitization that for the first time recognizes that the securitization scheme could be a sham, with no basis in fact. Although the Plaintiff chose not to make allegations regarding false origination…[...]

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Tags: accounting from master servicer, accounting from sub-servicer, assignment, attempt to securitize, California Reconveyance Company, cloud on title, Colleen Irby, CRC, cut-off date, Debt Collectors, FDCPA, fraud in origination of loan documents, livinglies-store.com, loan receivable, Lorenz, MOTION TO DISMISS, qualified written request, quiet title, QWR, RESPA 6, true credidtor, trust document, U.S. Bank, Unfair Competition LAw, WAMU
Posted in bubble, Corruption, Eviction, securities fraud |

Seniors Leading the New Wave of Foreclosures Editor's Comment: I think the figure is closer to 10 million, but I went with the title of the article by Mandi Woodruff on Business Insider. Unless the mortgages are corrected to reality in the marketplace instead of the fiction that prevailed when they were defectively "originated", households are going to be doubling…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

Housing Regulator Defies White House Obama's Next Move Unknown Editor's Comment and Analysis: It's unanimous! Except for DeMarco, the housing regulator who won't let Fannie and Freddie cooperate with principal reductions. Why not? "The Federal Housing Finance Agency's own analysis has shown that principal reduction could help up to 500,000 homeowners and save taxpayers as much as $1 billion, Geithner…[...]

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Tags: Business News, DeMarco, Ed DeMarco, Ed DeMarco Fhfa, Fannie, Freddie, Housing Geithner, housing regulator, Tim Geithner, Tim Geithner Ed DeMarco, Tim Geithner Fhfa, White House
Posted in bubble, Corruption, Eviction, securities fraud |

Could it be that the banks are ordering their "independent" trustees to alter the wording of the notice of sale and the ensuing deeds or transfers to look as bad as possible so they can get your home for 5 cents on the dollar? see alert-trustees-selling-liens-not-property-and-property-without-title Unless the bank's are going to rig the real estate marketplace like they did…[...]

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Tags: auction rigging, foreclosure auction rigging, Libor rigging, municipal bond auction rigging
Posted in bubble, Corruption, Eviction, securities fraud |

Moving the Goal Posts Again SELLING LIEN INSTEAD OF PROPERTY AT TRUSTEE SALE When Will Judges Get It? There is NO Mortgage Lien EDITOR'S ANALYSIS: A new instrument is surfacing masquerading as a Notice of Sale. This is going to be interesting. If you didn't read it, as most of these were probably not read since they first surfaced earlier…[...]

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Tags: Notice of Sale, sale of lien, trustee, trustee sale without warranty of title
Posted in bubble, Corruption, Eviction, securities fraud |

Many Canadians and U.S. investors are causing a buying "spike" that is creating the illusion that the market has hit bottom in some places and even going up. This illusion is self-perpetuating until it becomes clear that the buyers of these properties have bought into problems that they never knew existed. This is not the 1980's. In a previous post…[...]

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Tags: LOAN SPECIFIC TITLE SEARCH AND ANALYSIS, Title and Securitization Analysis and Commentary, title search
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Comment: There can no longer be any doubt about the complicity of regulators with banks in both the Libor and mortgage scandals. In fact, it should not called a scandal. That implies that a few people went off the reservation. We have something more fundamental at stake here. It is the revolving door, bribery and influence going both ways…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |