Reno, Nevada. In 2009, 16 banks hired 16 highly prominent law firms to take deposition testimony from an expert on the process of securitizing debt. He had been named as an expert witness in a class-action lawsuit against MERS (Mortgage Electronic Registration Systems, Inc., MERSCorp etc --- actually three distinct entities, one of which, the main one whose name used…[...]

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No default (no loss) means no claim. No claim means no remedy. intrepid souls are wandering into the weeds trying to find out what it means that PennyMac Mortgage Investment Trust (PMIT) is referred to as an approved issuer of "securities." The short answer is that none of it is true. PMIT does not own nor has it paid for…[...]

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Thursdays LIVE! Click in to the Neil Garfield Show Tonight’s Show Hosted by Neil Garfield, Esq. Call in at (347) 850-1260, 6pm Eastern Thursdays So the Defense in your case is that there is no claim, and thus no default the named designated claimant is a nominee and has no claim, and the designated company claiming to be a servicer is not…[...]

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The two things most overlooked by most lawyers for homeowners in litigation are discovery demands (and enforcement) and mediation. These strategies bring the real issue to the early attention of the court --- that the opposition is unable or unwilling to produce the corroborating evidence that the lawyer wants the court to simply presume to be true. I stumbled upon…[...]

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the "loans" were never sold because there was nothing to sell. The transaction is not "booked" as a loan receivable" or as any receivable because everyone is paid off completely upfront 100%. But the homeowner or other property owner is completely unaware of the reality of their transaction  --- and the transformation from what the homeowner intended to what the…[...]

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Homeowners have always legally and morally been entitled to bargain for and share in the infinite profits generated by securitization. So far they have received nothing. Homeowners have never been in default because to be in default there must be a lender, successor lender or creditor who has paid value for an unpaid underlying obligation due from the homeowner. No…[...]

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Thursdays LIVE! Click into the Neil Garfield Show Tonight’s Show Hosted by Neil Garfield, Esq. Call in at (347) 850-1260, 6 pm Eastern Thursdays * Lawyers have a job. Their job is to do the best they can at advancing their client's position-- within the bounds of the law. This usually involves a fair amount of bluff and any successful…[...]

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I have repeatedly stated that to get traction in the uphill battle of defending property from unlawful foreclosure claims, you need a lawyer. Being right is not enough. The playbook of your opposition is based almost entirely on outlasting you. This is because of loopholes the pleading rules and preapproved pleading forms for foreclosure. But how much good can the…[...]

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One very interested reader has corresponded with me about the unwillingness of the courts to act properly --- and I agree with her. She cites many improper moves like what is being upheld their bad decisions and misconduct...holding cases without jurisdiction, meeting in the judge chambers, making deals with the attorney, allowing a case or cases when the party has…[...]

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I keep receiving messages, emails, and texts from homeowners who complain about the cost of legal retainers. Some people think help should be free and maybe they are right. But for now, that is not our system. And lawyers, far from being obligated to provide such free service, are required to pay off their loans and investment in education. *…[...]

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