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 |

I like MidFirst Bank out of Oklahoma. In fact, I like most Community Banks and most Community Bankers. They provide personal banking for solid people who are not particularly huge customers. And, I know there is a rivalry, I kind of like Credit Unions too, although they tend to lag behind in technology. The reason I like these institutions is…[...]

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From "Anonymous" in Response to Post about PAID IN FULL Editor's Note. I might have misstated the case when I said that investment banks are buying up the lower tranches. It's not them. It is the people in the investment banks because they have another gambit to run on this. Anonymous, I would appreciate it if you would inquire and…[...]

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It is hard to state this strongly enough. The entire mortgage backed securitization structure was based upon FRAUD. An intentional misstatement of a material fact known to be untrue and which the receiving party reasonably relies to his detriment is fraud. BOTH ends of this deal required fraud for completion. The investors had to believe the securities were worth more…[...]

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Tags: accountants, appraisals, fraud, lending fraud, Ponzi, predatory lending, ratings, risk, securities fraud, value
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Having just received the transcript on this case, I find that what the Judge said could be very persuasive to other Judges. I am renewing the post because there are several quotes you should be using from the transcript. Note the intimidation tactic that Plaintiff's Counsel tried on the Judge. A word to the wise, if you are going to…[...]

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Tags: 07013084CI, assumptions, beyond a reasonable doubt, burden of prrof, business records, competency, due process, evidence, expert witness, florida judge, foreclosure defense, FOUNDATION, fraud, GMAC, hearsay, HERS, incompetent witness, motion for summary judgment, rules of evidence, securitization, Visicaro, witness
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, securities fraud, Servicer |

As some of you knew or probably have guessed, livinglies is a lightening rod for information. We have posts like the one below on the comments and emails sent with details that are neither for attribution or publication. In addition, several people in sensitive government positions use livinglies as a method of getting the real information out. Take a close…[...]

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Tags: anonymous, assignment with knowledge, Bernanke, receivables, REMMIC, short sales, transfer of wealth
Posted in bubble, Corruption, Eviction, evidence, expert witness, Modification, securities fraud |

The article below was purloined from www.foreclosureblues.wordpress.com --- the comments are mine. Neil Garfield "According to the Federal Deposit Insurance Corporation (FDIC), Deutsche Bank now holds loans for American single-family and multi-family houses worth about $3.7 billion (€3.1 billion). The bank, however, claims that much of this debt consists of loans to wealthy private customers. (EDITOR'S NOTE: THUS ALL THE OTHER…[...]

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Tags: ALT-A, Boundary Hall, C-BASS, CDO, Christoph Pauly, Cleveland, Common Ground, Countrywide Financial Corporation, Cricket Square, Deutsche Bank (Cayman) Limited, Deutsche Bank AG, exotic financial vehicles, FDIC, fiduciary function, foreclosureblues, foreclosures, Giaimo, Grand Cayman, HERS, Josef Ackermann, Litton Loan, Milwaukee, New Haven, ROOF Project, subprime, third-party CDO, Thomas Schulz
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

From www.foreclosureblues.wordpress.com Editor's Note: I think we posted the referenced case when it came out, but this article from foreclosure blues does point out some things that I had not emphasized. They are right that a primary point to remember is that where there is a conflict between what the would-be forecloser SAYS and what they submit as EXHIBITS, the…[...]

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EDITOR'S NOTE: LISTEN UP! It's easy to pass over these reports with the thought that it merely points out chicanery you already knew was about. But this one confirms what I've been saying for three years. The best defense against any claim is to show payment. Normally if someone pays off your debt it is either a gift (hence the…[...]

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Posted in Uncategorized |