The MERS Edifice Quavers.... The Market Ticker ® - Commentary on The Capital Markets Posted 2010-10-11 22:05 by Karl Denninger in Foreclosuregate The MERS Edifice Quavers.... And threatens to crumble into dust.... Yes, this is a draft.  But it is coming from a law school's scholarly paper mill - not exactly the sort of place you want to ignore.  A…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

Mot. For Order Prohibiting Sale, Assignment, or Transfer Interesting material in this pleading, with some good citations and argument, but awkwardly worded in spots.[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

From Bill: Sample Cause of Action in our complaints… (decoupling). Neil, your thoughts? Editor's Note: My thoughts are this is exactly what is needed. ————- PRIMARY CAUSE OF ACTION – THE DEED OF TRUST IS NULL QUIET TITLE IS THEREFORE REMEDY TO THAT NULLITY 1. Between July to August 2006, a now-bankrupt Countrywide Home Loans Inc. in conjunction with US…[...]

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Breaking News Alert: U.S. investigating possible criminal violations in foreclosure crisis October 19, 2010 2:53:09 PM ---------------------------------------- Federal law enforcement officials are examining whether financial firms may have broken the law when they filed improper foreclosure documents with courts, sources familiar with the probe say. Task force probing whether banks broke federal laws during home seizures Gallery Thousands of foreclosures…[...]

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Whistleblower Speaks On Fraudclosure Submitted by Tyler Durden on 10/19/2010 07:49 -0500 Fitch GMAC Mortgage Backed Securities Mortgage Loans ratings Ratings Agencies Zero Hedge has been approached by an individual who participated directly in the various aspects of what is now broadly known as Fraudclosure. The below narrative recounts his experience in the due diligence process of selecting loans for…[...]

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary "The worst outcome would be a conclusion that errors by financial institutions had decoupled the payment promises made by borrowers from the mortgages they signed. In that case, the mortgages would be invalid. Homes could be sold without paying off lenders. There also could be heavy tax consequences for lenders,…[...]

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Tags: unsecured mortgages
Posted in bubble, Corruption, Eviction, securities fraud |

finance-and-the-housing-bubble Explaining The Housing Bubble Levitin and Wachter SSRN-id1669401 EDITOR'S NOTE: These articles and treatises are important for many reasons and you should read them and use them in briefs because they capture the truth of much of what was in process during the mortgage meltdown crisis 2001-present. But I think the most salient point that screams out here is…[...]

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary The essential component of every loan that was never revealed to either the lenders (investors) nor the borrowers (homeowner/investors) was the addition of co-obligors and terms that neither the investor nor the borrower knew anything about. The "insurance" and other enhancements were actually cover for the intermediaries who had no…[...]

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Foreclosure Nightmare - MERS - No Legal Foundation By Joel Skousen Editor - World Affairs Brief 10-15-10 Begin Excerpt - The role of the Mortgage Electronic Registration System (MERS) throughout the foreclosure furor is interesting-mostly because there is no legal basis for its role. It was created out of whole cloth by the investment bankers who brought us the Mortgage Backed…[...]

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Editor's Note: Interesting that this got zero attention from the press. This is the first official recognition of two things we have been saying here for 3 years: For the Borrowers, there can be no effective modification nor any inducement to go into a modification unless there is a very substantial principal reduction such that the homeowner has at least…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |