JPM's Jamie Dimon likes to brag and bully people with who he knows and talks to. Well now is his big chance. He gets to talk to the SEC who are investigating the truth about the liabilities and repurchase obligations connected with the mortgage mess. Eventually, the SEC is going to figure out that Dimon's bravado and arrogance stemmed from…[...]

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COMMENT FROM READER:  I received a printed copy from the Deutsche Bank, in reply to a complaint I filed against Deutsche Bank to Federal Reserve Bank New York. Title of the Page is "ROLE OF THE TRUSTEE IN THE US MORTGAGE MARKET" Under the TRUSTEE; It says " Performs a variety of functions, among them acting as TRUSTEE for the…[...]

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Tags: DEUTSCHE BANK
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, securities fraud |

FROM A READER IN COLORADO ANSWERING "ANONYMOUS" You raise a good point as to the servicer keep all the payments. As it has been proven in the two WAMU cases I have, the servicer(JPM not Chase Home Finance) is compelling the action under a bogus POA for the trustee. The trustee does not have control if the operation as the…[...]

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One of the hardest things for people to get their minds around is how borrowers were defrauded. The nagging question keeps coming to mind "But you DID sign the loan and take the money, didn't you?" Yes you did, but you did it because of a representation and virtual guarantee from several parties at the closing table who knew the…[...]

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Tags: appraisals, derivatives, loans, mortgage bonds, ratings
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Pleading, securities fraud |

From one our astute readers ---- To Whom It May Concern (i.e. all of us); One of the remaining pink elephants in the room for distressed American homeowners is the heretofore successful national narrative that homeowners who endeavor to bring all parties together, before a Judge, in a Court of law, are doing so to gain a free home, not…[...]

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6.29.10Bank-of-New-York-v-Michael-Raftogainis[1] Judge Todd also stated that additional discovery is to be produced when the foreclosure involves a securitization, lost note claims, or a holder in due course challenge (which may arise in the context of the purported assignment of a toxic loan to a securitized trust prior to the trustee of that trust instituting a foreclosure action, as well as…[...]

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Tags: Bank of New York Mellon, Home Mortgage Investment Trust, New Jersey, securitization report, title report, William C. Todd
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, securities fraud |

Reston-based company sued on fraud charges Nevada law firm says Mortgage Electronic Registration Systems deprives counties of fees by Gregg MacDonald | Staff Writer A Nevada law firm has filed two civil lawsuits against Reston-based Mortgage Electronic Registration Systems alleging billions of dollars worth of fraud. The suits, filed in Nevada and California district courts, claim the company has deprived…[...]

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Posted in Uncategorized |

"Trust me, I'm your friend." "Hi! I want to be your Lender" (pretender lender) "I've got a great deal for you" "Here is the name of the underwriter of your loan." "Here is the appraisal --- it came in higher than your deal." "You can rely on the appraisal" "It's a 30 year loan" (1-6 years actually) "This is your…[...]

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Posted in bubble, Corruption, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud |

I like this post from a reader in Colorado. Besides knowing what he is talking about, he raises some good issues. For example the original issue discount. Normally it is the fee for the underwriter. But this is a cover for a fee on steroids. They took money from the investor and then "bought" (without any paperwork conveying legal title)…[...]

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Tags: accounting, ACTUAL RECEIVABLE, CREDIT EVENT, foreclosure, FORM 938, fraud, HERS, IRS, NOMINAL RECEIVABLE, ORIGINAL ISSUE DISCOUNT, REMIC, SERVICER FEE, taxes, Underwriter, WAMU, yield spread premium
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud, Servicer |

This is what is scaring the big boys that are siphoning every penny out of every American citizen whether they own property or not. If the rush toward strategic defaults continues, it is quite possible that many people will get a large share of the transfer of wealth from poor to rich. The fact remains that you can't fool all…[...]

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Tags: strategic defaults
Posted in bubble |