The true answer is that securitization is a process that is still on going and not an event.The Real Party in Interest (and the real amount of principal due, if any) is in a state of flux hidden by obscure, hidden or "confidential documentation." Don't make it your problem to unravel it. Use your strength to force THEM to prove…[...]

Continue Reading

Tags: Arthur M. SchackJ. S. C, Fordham Law Review, George, GMAC MORTGAGE CORPORATION, JPM, lender, loan originator, MERS, NOMURA ASSET ACCEPTANCE CORPORATION MORTGAGE PASS-THROUGH CERTIFICATES, non-judicial, originator, Precious L. Williams, REAL PARTY IN INTEREST, SERIES 2004-AR4, servicer, shack, standing, Steven J Baum, trustee, vacate, Vacate foreclosure judgment
Posted in Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

APPRAISAL FRAUD IS THE ACT OF GIVING A RATING OR VALUE TO A HOME THAT IS WRONG --- AND THE APPRAISER KNOWS IT IS WRONG. This can't be performed in a vacuum because there are so many players who are involved. They ALL must be complicit in the deceit leading to the homeowner signing on the the bottom line and…[...]

Continue Reading

Tags: access to the information, Appraisal, appraisal company, appraisal fraud, builder, closing agent, credit cards, deceitful lending practices, developer, errors and omissions insurance, fair market value, false appraisal, fees, fraud, HERS, insurance, kickbacks, lenders, MORTGAGE BROKER, profit, rating, reabtes, Reg Z, TILA, title agency, trustee, Truth in Lending Act, value, verification, yield spread premium, YSP
Posted in Uncategorized |

Editors Note: If anything shows the extent of appraisal fraud, it is the sheer number of homes that are under water. These figures while high, report only a fraction of the actual number of homes because of the way they are computed. If you take the asking price, reduce it by at least 4% (which is the actual sales price),…[...]

Continue Reading

Tags: appraisal fraud, Bloomberg, Brian Louis, broker, Celia Chen, commission, Edge Simonton, fair market value, foreclosure, HERS, house arrest, Moody’s Economy.com, RealtyTrac Inc, selling expenses, strategic defaults, under water, Zillow.com
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Editor's Note: Hard to say which way this will go, but it SHOULD go negative for Moody's, Fitch and Standard and Poor's. This was appraisal fraud at the OTHER end of the lending chain. Investors were misled as to the value of the security not only because the home appraisals were inflated, and not only because the viability of many…[...]

Continue Reading

Tags: appraisal fraud, cease and desist, credit enhancements, Credit Rating Agency Reform Act of 2006, Fitch, home appraisals, investors, MIS, Moody's, moodys.com, ratings agencies, SEC, SEC Form NRSRO, Standard and Poor's, Triple AAA ratings, Wells Notice, Zero Hedge
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

5 08 10 Florida mediationorder The main message is that what we have here is a legal obligation in search of a creditor and that the opposition is trying to use the court as a vehicle to steal the house and run with it while the whole securitization mess is scrutinized. I think this Order is far more significant than…[...]

Continue Reading

Tags: 6th District, authority, Florida, free house, holder in due course, lender status, Motion Practice, pretender lenders, real party, Shareholders
Posted in Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Editor's Comment: Appraisal fraud, ratings fraud, misrepresentation, steering investors and borrowers in the wrong direction --- all of these amount to the same thing: DECEIT. And as everyone knows, when someone is bilked out of money or value through deceit, they are entitled to made whole --- as close as possible, and probably entitled to punitive, exemplary or treble damages.…[...]

Continue Reading

Tags: Appraisal, appraisal fraud, appraiser’s comments section, builders, comparable property, comparable sales, Condo, countrywide, early transfers, fraud, HERS, HOA, incentives, independent loan brokers, inflated values, Landsafe, loan officer, mortgage fraud, occupancy ratios, property management company, upgrade sheet, upgrades
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification |

Eltman, Eltman & Cooper was one of 35 law firms sued last July by the state, which claimed that they had improperly obtained more than 100,000 judgments in consumer-debt cases. Editor's notes: The dubious "enforcement" of mortgages, notes and "obligations (that have been paid many times over through credit enhancement) is both mirrored and amplified in the debt collection industry.…[...]

Continue Reading

Tags: debt, Debt Collectors, Eltman, Eltman & Cooper, judges, New York, Obligation, Philip S. Straniere, usury, WILLIAM GLABERSON
Posted in Corruption, foreclosure mill, Servicer |

The problem is that a statute passed for judicial economy is now being used to force the burden of proof onto the borrower in the foreclosure of their own home I think the main issue in non-judicial states is what does "non-judicial" mean. I think in your argument you do NOT want to concede that they wish to foreclose. What…[...]

Continue Reading

Tags: BURDEN OF PROOF, judicial event, judicial foreclosure, non-judicial, object to the sale, power of sale, trustee
Posted in Corruption, Eviction, expert witness, foreclosure mill, Servicer |

Editor's Note: Besides the obvious, there are a number of not-so-obvious things to keep in mind. The reason why they made the "mistake" is probably related to errors in procedure because they receive information from multiple sources. It is possible but unlikely that this was a normal error in posting. In Motion Practice and Discovery you would want to exploit…[...]

Continue Reading

Tags: 80129, 8742 Lucent Blvd, borrower, business as usual, business records, CO, creditor, DEBTOR, discovery, fabricated documents, homeowner, Investor, Littleton, Motion Practice, Pasadena Sheriff’s Department, price, Reginald Jones, Specialized Loan Services, stakeholders, standard operating procedure, Terwin Group
Posted in Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Editor's Comment: Home builders made out like bandits as they were complicit in the rampant appraisal fraud that served as the keystone of the mortgage meltdown. Both the homes that were sold and the securities that were sold to fund the mortgages were inflated in the same way. But on the homeowner side there was the developer who would raise…[...]

Continue Reading

Tags: appraisal fraud, Beazer, comparable, HERS, home builders, HOrton, Hovnanian Enterprises, Lennar, MDC Holdings, profit margins, TILA, Toll Brothers
Posted in bubble, Corruption, securities fraud, Servicer |