Since I am making the point repeatedly in emails and calls I thought I might bring it up on the blog.I have changed one of my suggested strategies and I no longer recommend the immediate introduction of the term "pretender lender." THERE IS A DIFFERENCE BETWEEN THE USE OF THE WORDS "CREDITOR" AND "LENDER". THERE IS A DIFFERENCE BETWEEN THE…[...]

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Posted in Uncategorized |

Submitted by BMcDonald Most of us are trying to get the info from the banks, which they will not do unless forced. Well, now many of us can walk right in through the back door. FOIA requests! I fought for 7 months to get the bank to cough up the info and it only took 6 days by going through…[...]

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Tags: FDIC, FOIA, Freddie Mac, Freedom of Information Act, INDYMAC, OneWest Bank
Posted in bubble, Corruption, Eviction, securities fraud |

Max Gardner's Protoge Achieved This result as Reported Max's Current Newsletter: Editor's Note: Most of what we have seen reported indicates that although TILA is clear in is legislative expression that NO TENDER is required for the rescission remedy under TILA, Judges don't like it. It seems they feel that Big Bad Borrowers are taking advantage of Bambi Banks. Yet…[...]

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Tags: 15 U.S.C. § 1601, Botelho, FRCP 12(b)(6), LXS2007-4N Trust, rescission, tender, TILA, Truth in Lending Act, U.S. Bank
Posted in bubble, Corruption, Eviction |

Upon finding that a portion of those payments should be applied to the subject loan, the declaration of default would be invalid because it would either be wrong inasmuch that the third party payments would at least be prepayments of future monthly payments, or wrong because the third party payments reflected an inaccurate accounting of the principal due. OK let's…[...]

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Tags: accounting, adversary, bankruptcy, credit default swaps, creditor, Federal Bailout, foreclosure, insurance, schedules, secured claims, securitized mortgage, third party payments, unsecured creditors
Posted in bubble, Corruption, Eviction, expert witness, securities fraud, Servicer |

Editor's Note: to most Judges and most lawyers the thought that a home could be foreclosed by the wrong party, or that there could be a declaration of default on a satisfied mortgage, and that these things could lead to sale of a home by a bank or other party that doesn't own it to someone who also doesn't own…[...]

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Tags: Bank of America, Beth Findsen, expert declaration, financial double jeopardy, Florida, forensic report, Golden gate Estates, Naples, Nyerges, recording, securitization, Tuan Van Ho
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Note: Here is where the foreclosure or mortgage analysts get separated --- the ones who understand the process of securitization and the ones who don't. I received this from a pro se litigant in a case where Wells Fargo identified itself as the creditor/lender (as usual, not true). In fact Wells denied that the loan was securitized. In some…[...]

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Tags: creditor, forensic analysis, Master Servicer, mortgages, Reconstituted Service Agreement, Service Agreement, servicer, Thornburg Mortgage Securities Trust 2006-5, Thornburgh, Thornburgh Mortgage Home Loans, Underwriter, Wells Fargo
Posted in bubble, Corruption, Eviction, securities fraud |

Tony, I got an interesting email to my blog BUT when I replied POOF they disappeared! I have been researching this for a bit now. I need information on the following tip: “Deutsche Bank National Trust passed the certificate to the administator of the main trust Maples Finance Limited, You want to check out Indymac c1-1 Corp they are incorporated…[...]

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Tags: administator, British Virgin Islands, cashflow CDOs, Cayman Islands, CDOs, Collateral Securities, collateralized debt obligations, Deutsche Bank National Trust, DinSFLA, Dublin, Indymac c1-1 Corp, Jersey, main trust, Maples Finance, Maples Finance Limited, SIV, structured finance vehicle
Posted in bubble, Corruption, Eviction, securities fraud |

This is pretty aggressive and pretty abusive. I don’t know how under GAAP this follows the rules whatsoever,” he said, referring to Generally Accepted Accounting Principles.“That reeks of an auditor who, rather than being really truly independent, is beholden to management,” he said, adding that the S.E.C. and the Justice Department should follow up on Mr. Valukas’s findings. Executives at…[...]

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Tags: Barclays, Ernst and Young, forensic analysis, forensic auditor training, forensic report, forensic review, gaap, Goldman Sachs, K&L Gates, Lehman, Linklaters, Lynn E. Turner, Michael Missal, New Century Financial Corp, Patricia Hynes, repo, Richard S. Fuld Jr, S.E.C., Valukas, workshop
Posted in bubble, Corruption, Eviction, Modification, securities fraud, Servicer |

see FORECLOSURE_SUBPRIME_MORTGAGE_LENDING_AND_MERS1 Editor's Note: This appears to be public domain. The article is excellent in its analysis of MERS. Here is the Table of Contents: FORECLOSURE, SUBPRIME MORTGAGE LENDING, AND THE MORTGAGE ELECTRONIC REGISTRATION SYSTEM Christopher L. Peterson* TABLE OF CONTENTS I. THE AMERICAN REAL PROPERTY RECORDING SYSTEM II. THE ORIGIN AND OPERATION OF MERS III. THE QUESTIONABLE LEGAL FOUNDATION…[...]

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Tags: Debt Collection, FDCPA, Federal fair Debt Collection Practices Act, MERS, mortgage market, recording, standing, title
Posted in bubble, Corruption, Eviction, securities fraud |

Submitted by Charles Cox, apparently from public domain Article by Christopher Story to be published by Economic Intelligence Review conflict of interest inherent in the sponsor also serving as the servicer constitutes fraud and conversion. In the fourth place, in all ‘true-sale’, ‘disguised loan’ and ‘assignment’ securitisations where the Special Purpose Vehicle [SPV] is a trust, the declaration of trust…[...]

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Tags: assignment, Charles Cox, Christopher Story, conversion, disguised loan, Economic Intelligence Review, fraud, RICO, Securitisation, securitization, tax evasion, true sale, usury
Posted in bubble, Corruption, Eviction, securities fraud |