Under pressure from the Obama Administration, Federal agencies that turned a deaf ear to consumers, borrowers and debtors, are starting to investigate, prosecute and reveal predatory, deceptive and illegal activities of the entire securitization chain. Now is the time for us to make sure they get a copy of your qualified written request. And the QWR or DVL should be…[...]

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NOTE: Working on one of my expert declarations I figured I would share my computations with the readers. In order to protect privacy I am deleting any identifying information. In this case there was a $1 billion offering of non-certificated mortgage backed securities, which is a fancy way of saying there was no certificate, just a book entry. The Master…[...]

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Here's Why Jumbo Mortgage Delinquencies Are 50% Above Average And Rising Today, June 18, 2010, 5 hours ago | Michael David White A quiet revolution has hit wealthy neighborhoods: financial failure. The 90-day delinquency rate on home loans worth over a million dollars hit a high in February at 13.3 percent, much higher than the overall rate of 8.6 percent.…[...]

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Got this off the “Mortgage Servicing News” newsletter: June 16, 2010 Investigation Highlights Challenges to Foreclosure Docs By Kate Berry The backlash is intensifying against banks and mortgage servicers that try to foreclose on homes without all their ducks in a row. Because the notes were often sold and resold during the boom years, many financial companies lost track of…[...]

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Tags: April Charney, Docx, fabrication, false notary, Fidelity National, Fidelity National Financial Inc., Florida Attorney General, Foreclosure Docs, forgery, HERS, James Kowalski Jr, Kate Berry, Lender Processing Services Inc., M&T Bank Corp., Mortgage assignments, Mortgage Servicing News, Peter Sadowski
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

From usedkarguy To: M. Soliman, I wrote to Neils’ blog over 10 months ago stating the exact facts that you are promulgating here in this recent post. I have been in litigation for over a year now and have been removed to US Dist. Court recently, at the behest of Deutsche Bank. They have brought in a securities attorney from…[...]

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Tags: accounting, Caymen Islands, DEUTSCHE BANK, general master pay account, HERS, payments, sub-trust accounts
Posted in bubble, Corruption, evidence, expert witness, foreclosure mill, Modification, Servicer |

“The fraud here is truly stunning in its scale and complexity,” said Lanny A. Breuer, assistant attorney general in the criminal division of the Department of Justice. “These charges send a strong message to corporations and corporate executives alike that financial fraud will be found, and it will be prosecuted.” Once they determined that that approach might be difficult to…[...]

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Tags: accounting, bank fraud, civil fraud charges, Colonial BancGroup, Colonial Bank, conspiracy, Department of Housing and Urban Development, Department of Justice, DOJ, ERIC DASH, Federal Deposit Insurance Corporation., fraud, HERS, infrastructure, investors, Lanny A Breuer, Lee B Farkas, Ny Times, Securities and Exchange Commission, securities fraud, Taylor, Taylor Bean, TBW, wire fraud
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

Editor's Note: Housing prices will continue to decline until median income starts to flatten out. All signs indicate that we are in for another 10%-20% drop as conventionally measured. Remember that housing prices do NOT take into consideration selling expenses and concessions at closing. All things considered, housing prices should be at least 8% under what is reported. With that…[...]

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Tags: housing prices, median income, principal reduction, underwater
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

SUBMITTED BY M SOLIMAN EDITOR'S NOTE: Soliman brings out some interesting and important issues in his dialogue with Raja. The gist of what he is saying about sales accounting runs to the core of how you disprove the allegations of your opposition. In a nutshell and somewhat oversimplified: If they were the lender then their balance sheet should show it.…[...]

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Tags: accounting, balance sheet, discovery, failure, income statement, Investor, ledger, lenders, mortgage backed securities, mortgage lenders, pools, Raja, securitization chain, Soliman, third party payments, writedown
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

What We Know (and Don't Want to Know) About Housing Today, June 16, 2010, 34 minutes ago | noreply@blogger.com (Charles Hugh Smith) The housing market is doomed in the U.S., and the causal factors are all well-known. But we don't want to know, because that knowledge would re-order the American culture and economy. Yesterday I suggested that what we don't…[...]

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Training Bulletin Number 2010-05 To: All MERS Members ` May 26, 2010 Re: Identifying Investors on MERS® System MERS® System Release 19.0 on June 14, 2010, will include Phase II of MERS® InvestorID. Phase I was introduced on June 19, 2009, to help our Members meet the requirements of the Helping Families Save Their Homes Act of 2009 by using…[...]

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Tags: MERS
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