if the so-called lenders had done due diligence. But nobody was doing due diligence because they didn't care. They didn't care because they were not lending money for which they would be held accountable. And now people like this, en masse, are being asked to take responsibility for the failure of the banks to know their own business. One ‘Nightmare’…[...]

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NOVEMBER 22, 2010 Foreclosure Detectives Hunt for Lies By RUTH SIMON URBANDALE, Iowa—In two squat, suburban office-park buildings here, Richard Barrent is digging through loan files that could help decide who pays for the mortgage-paperwork debacle. The former Wells Fargo & Co. quality-assurance manager's two-year-old company is part of a cottage industry of loan detectives obsessed with detecting fraud, misrepresentations…[...]

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Bank of America may discover that it has millions of loans on its books that it thought it had transferred to trusts that issued mortgage backed securities, because 96% of Countrywide loans were ostensibly securitized. As the Congressional Oversight Panel explained, that outcome alone could cause massive damage to a bank's balance sheet. And as bad as that would be,…[...]

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary "When you rob the bank you pay for the crime. When you ARE the Bank, you still do the time." It's good that Dylan is highlighting the mortgage mess. He had Matt Weidner on yesterday who did his best in answering a bad question. Ratigan asked Matt why homeowners shouldn't…[...]

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Tags: Dylan ratigan, Florida, foreclosures, Matt Weidner, MSNBC
Posted in bubble, Corruption, Eviction, securities fraud |

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary Submitted by Brian Davies Countrywide and Bank of America published case. This could be an IMPORTANT development. It could mean proof that the securitized trusts were routinely NEVER consummated. That would mean Countrywide-cum-BOA legal actions being taken in the name of their securitized trusts lack “Standing” and or “Capacity”. Those…[...]

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary ROBO-SIGNING REVEALS ROBO-APPROVALS OF LOANS "The inability of the borrower to repay was a known fact. The willingness to give him the money came from the securitization scheme (fraud) that induced investors to advance money for "quality" mortgage pools, combined with the fact that those who "approved" the loan (but…[...]

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary submitted by Tony Editor's Note: One of the things that struck me about this submission was that only a year ago it would have been unlikely for any but the bravest to try this analysis and now it is getting commonplace. The fundamental facts and black letter law can only…[...]

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Senate, House Hearings on Foreclosure Fraud Cast Doubt on Deadbeat Borrower Meme On Thursday, the housing subcommittee of the House Financial Services Committee held hearings on robo signing, documentation, and servicing issues. This session wasa companion to the Senate Banking Committee hearings on the same topic earlier in the week. There were some notable differences between the two forums. The…[...]

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EDITOR'S NOTE: It's worse than Martin thinks. If my information is correct, virtually all the RMBS derivatives and mortgage bonds are fatally defective (they can't be fixed). The nominal value of that exceeds all the real money in the world by a factor of two. A lot of them cancel each other out, but the point is that there are…[...]

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HITLER EXPLAINS PRETENDER LENDER STRATEGY[...]

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