Editor's Note: All this because they won't face reality and insist on maintaining the illusion that the "loan" transactions were anything but empty promises based on misrepresentations. There is another way out of this without letting the Wall Street socialists continue to dine at the taxpayer trough. To do that we have to put aside our agendas and adopt just…[...]

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Tags: bailout, Fannie, Freddie
Posted in bubble, Corruption, Eviction, securities fraud |

Fellow foreclosure defense activists, Check out PBS’ News Hour at http://www.pbs.org/newshour/bb/business/july-dec10/foreclosures_10-19.html Part II is tonight! We need forensic auditors up here in Bean Town. America is getting Kafkaesque! Let’s get the VOTE out! ALLAN BeMoved@AOL.com[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary EDITOR'S COMMENT: While I commend the reporting and the acts by Judges, lawyers and government officials, they still don't "get it." The presumption is that the homeowner owes the money that the servicer says is due. That is a lie. Thus the assertion that the homeowner is in default is…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary "In its S.E.C. filing, Prommis alerted potential investors that it could face challenges from bar associations, prosecutors or homeowners that its relationship with its law firms constituted the “unauthorized practice of law” or involved “impermissible fee sharing” arrangements." "The relationship between the Wall Street specialists and a law firm appears…[...]

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Tags: Ares Capital, David J Stern, FTV Capital, Great Hill Partners, Hunt Leibert Jacobson, Iowa attorney general, Lender Processing Services, LPS, Pillar Processing, Prommis, Steven J Baum, Tailwind, Tom Miller, unauthroized practice of law, UPL, Volentine
Posted in bubble, Corruption, Eviction, securities fraud |

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary Coupled with the obvious improper relationship between lawyers and Wall Street, is the prior history of having done essentially the same thing in the creation of the loans. People who had licenses to practice their profession threw caution to the winds in exchange for large profits and fees. Keep in…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

Bank of America is a particular worry, because its capital position is already precarious, and any downgrade by rating agencies will push it into dangerous territory. To the extent the market believes that the government does not stand fully or immediately behind Bank of America (a view expressed by Morgan Stanley analysts in a note this week), we should expect…[...]

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary "setting the stage for a huge battle between mortgage holders like the government, hedge funds and other institutional investors on one side and the big banks on the other." Editor's Note: The plot thickens. Even as the Fed and investors talk about wanting their money back on mortgage backed securities,…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

1. Chicago Sheriff stops foreclosures until banks get their paperwork in order (which will never happen): http://www.cnbc.com/id/39745284 2. Could I please be added to your referral list as someone who gets it? I was a securitization lawyer for a couple of years (1999-2001 for Chapman and Cutler LLC in Chicago, a 100+ year old finance/banking firm. Never did I dream…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

" "If it were just a matter of negligence or covering up dubious collateral, surely some of the assignments by some of the banks would have been done properly. Why would they all be defective? "...it's too late to assign properties to trusts that have already been set up without violating the tax code for REMICs, and the trusts themselves…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

From Katherine Editor's Note: I almost passed on this. Then I started thinking. If the original note must be sequestered with the Court to prevent further negotiation of the note, it locks in the other side pretty early. If you can convince the court that tendering the original note to the court is a condition precedent to getting judgment, then…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |