CLASS ACTION LAWSUIT AGAINST BANK OF AMERICA – BAC VICTIMS CAN JOIN THE LAWSUIT ——————————————————————— Bank of America Home Loans Date Filed: March 22, 2010 Court: U.S. District Court Location: Seattle Ticker Symbol: BAC Washington homeowners sued Bank of America claiming the lending giant is intentionally withholding government funds intended to save homeowners from foreclosure. Hagens Berman represents plaintiffs in…[...]

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As pointed out in the article below there are many good reasons for prepaying your mortgage on a monthly basis. But if you are in a securitized mortgage and you are either underwater or facing payments that are resetting, be aware that any prepayments will take you far out of the running for any modification. Yours will be a super-performing…[...]

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Tags: modification, Mortgage, New York Times, note, Obligation, prepayment, reset, Ron Lieber, securitized mortgage
Posted in bubble, Corruption, securities fraud |

I MERELY REPORT THE FOLLOWING AS A POSSIBLE "HEADS UP". I HAVE NOT HEARD OF THIS PROBLEM WITH PACER. IF ANY OF YOU KNOW SOMETHING ABOUT IT, PLEASE POST YOUR COMMENTS. Editor's Note: Like MERS, garbage in, garbage out. Without a referee the players do whatever suits them. Here PACER enables litigants to submit questionable documents --- i.e., where authentication…[...]

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Tags: CM/ECF, county recorder, court record, foreclosure defense, foreclosure litigation, Fraudlent documents, hadn signature of judge, Joseph Zernik, MERS, NEF, Notice of electronic Filing, Pacer, property appraiser, recording, Richard Fine, RSA-encrypted, stamp of the clerk
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This is an example of the information I am requesting that everyone send in so we can pool information. I am entering the names and parties in key words so you can search for them. My goal with HERS is to have an ever increasing database that will speed the research for forensic analysts and lawyers. The following six orders…[...]

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Tags: 1661 Worthington, 2007, affidavit of employment, American Brokers Conduit, Argent Mortgage company, assignment, Attorney in fact, Aurora Loan Services, Aurora Loan Services LLC, bank of new york, Castellanos, Countrywide Home Loans, Deutsch Bank, First Magnus Financial Corporation, Index No 07206/2007, Index No 15208/2007, Index No. 22375/2006, Index No. 32052/2007, Jeff Rivas, Judge Arthur M Schack, Keri L. Selman, Keri Lynn Atwood, Keri Selman, lack of standing, May 11, McKinney, Melville, MERS, Mortgage, Mortgage Electronic registration Systems, MTGLQ Investors, New York, Orosco, ownership, Robert Hardman, Sattar, Scott Anderson, Suite 100, Texas, Vice President Default Timeline Management, West Palm Beach Suite, Zamalloa
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without raising taxes one cent, many states could recover much or all of their deficit and perhaps some states could be looking at a surplus. The money is sitting on Wall Street waiting to be claimed through existing tax laws, regulatory fees, and even damage claims much like the Tobacco litigation. Editor's Note: Bob Herbert of the New York Times…[...]

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Tags: Andre Cherney, ARIZONA, Bob Herbert, CALIFORNIA, Center on Budget and Policy Priorities, Children's Health Insurance Program, CHIP, Chris Chistie, Dean Martin, Florida, income tax, infrastructure, Jan Brewer, Job Shure, New Jersey, Ny Times, Recording fees, State Budget Deficits, taxes, Treasurer, Wall Street
Posted in bubble, Corruption, Eviction, expert witness, securities fraud |

Announcing the establishment of the Homeowners Electronic Registration System (HERS) to assist in mortgage negotiations, litigation, foreclosures and modifications. HERS v MERS, Get It? We are looking for someone to go through the comments and blog posts that give the name of an officer or other person signing any paper involved in the mortgage or foreclosure of property and to…[...]

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Tags: discovery, ethics, expert declaration, fabrication mills, Fabrication of documents, foreclosure mills, forensic analysis, HERS, Homeowners Electronic Mortgage Registration System, lawyers, limited signing officers, MERS, Mortgage Electronic registration Systems, qualified written request, Rand
Posted in bubble, Corruption, Eviction, securities fraud |

SEE The Economics and Incentives of Yield Spread Premiums and Credit Default Swaps March 23, 2010: Editor's Note: The YSP/CDS paper is intentionally oversimplified in order to demonstrate the underlying economics of securitization as it was employed in the last decade. To be clear, there are several things I was required to do in order to simplify the financial structure…[...]

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Tags: borrower, credit, credit default swaps, credit worthy, creditor, damages, DEBTOR, Garfield, Garfield Continuum, identity theft, investment banker, Investor, Real Estate Settlement Procedures Act, remedies, TOXIC WASTE, Truth in Lending Act, yield, yield spread, yield spread premium
Posted in bubble, Corruption, Eviction, expert witness, Modification, securities fraud, Servicer |

Bear in mind now, that underneath this all are subprime mortgage loans and pool of subprime mortgage loans in which only eight percent have to go bad for the whole CDO to be worth zero. NPR Interveiw with Lewis Author Submitted by Ron Ryan, Esq. (Tucson) with the following comment: The story broke on 60 minutes last week and on…[...]

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Tags: asymmetric access to information, CDO, credit default swaps, inherently defective loan products, Lewis, NPR, pool, subprime mortgage loans, TARP, toxic assets
Posted in bubble, Corruption, Eviction, securities fraud |

The Affidavit executed by Movant’s loan servicer makes no mention of the location of the original Note or who has possession of it. Movant proffered no business records or testimony tracing ownership of the Note and establishing Movant is the present holder of the Note. The Affidavit executed by Movant’s loan servicer makes no mention of the location of the…[...]

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Tags: 2006-3, Allonge to Promissory Note, Assignment of Mortgage and Loan Documents, Aurora Bank FSB f/k/a Lehman Brothers Bank, bankruptcy court, Case No. 6:09-bk-12240-ABB, Chapter 7, Florida, FSB, Jack Jacob, Jennifer Henninger, JORGE CANELLAS, Judge ARTHUR B. BRISKMAN, Lehman Brothers Bank, Lehman Brothers Small Balance Commercial Mortgage Pass-Through Certificates, MIDDLE DISTRICT OF FLORIDA, Motion for Relief from Stay, Note and Mortgage, Orange County, ORLANDO DIVISION, owner and holder, private securitized trust, Special Assets Administrative Assistant, trustee, Trustee Carla P. Musselman, U.S. Bank National Association
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Editor's Note: The ankle-biting is rising to a crescendo. Wait till you see what happens next. The insurers are not just alleging misrepresentation or negligence. They are saying that Countrywide and others knowingly originated bad loans. And as I have explained before on these pages they are finally "getting it." Bottom Line: The worse the loan, the higher the profit. …[...]

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