The product being sold by OCWEN FINANCIAL SERVICES is its common stock --- and probably its integrity * At least the Titanic has historical and maybe even archaeological significance. * Let's be clear. The product being sold by OCWEN FINANCIAL SERVICES is its common stock --- and probably its integrity (if it ever had any). In plain language, the wealth…[...]

Continue Reading

Posted in Uncategorized |

Thursdays LIVE! Click in to the Neil Garfield Show Tonight’s Show Hosted by Neil Garfield, Esq. Call in at (347) 850-1260, 6pm Eastern Thursdays * Regular people think that going to court is winning a point and finding vindication in the judgment of the court. But lawyers know that going to court is all about keeping in control of the narrative. *…[...]

Continue Reading

Posted in Uncategorized |

Securitization, by definition, means the acquisition of an asset through payment for a security (e.g. "certificate"). If that event has not occurred, then there is no securitization. If the asset is a loan account, then nothing has changed. If nothing has changed then claims regarding REMIC trusts, trusts, and holders of certificates are all false. Also, the claims of companies…[...]

Continue Reading

Posted in Uncategorized |

The bottom line of a successful defense to Foreclosure Defense is that those who are successful understand that Wall Street changed the conventional home loan equation from legal to illegal. This is not a technical point. If nobody is getting hurt by the refusal or failure of the homeowner to make a scheduled payment, then there is nothing to sue…[...]

Continue Reading

Posted in Uncategorized |

It is not correct to say that anything was securitized. Issuing securities does not mean the securitization of an asset occurred. The purchase of an option is not securitization of an asset even though the option is a new "security." I am currently in a spirited debate with a good faith reader who is struggling to reconcile her knowledge of…[...]

Continue Reading

Posted in Uncategorized |

Much has been said and written about various scams involving bid-rigging. That's where the parties involved agree to not bid against each other in exchange for getting title to the foreclosed property at a low price. It's illegal. It's a violation of the Sherman Antitrust Act. And if anyone other than an investment bank does it, they are likely to…[...]

Continue Reading

Posted in Uncategorized |

The inability or unwillingness of the legal profession to admit its ignorance of advanced sophisticated financial innovations has produced an age-old problem. In 400 B.C. Socrates was put to death for revealing it. It's a simple proposition with far-reaching consequences: people who excel in one thing and rise to power tend to believe they understand everything and thus make uninformed…[...]

Continue Reading

Posted in Uncategorized |

Thursdays LIVE! Click into the WEST COAST Neil Garfield Show with Charles Marshall and Bill Paatalo Or call in at (347) 850-1260, 6pm Eastern Thursdays Very promising development in a recent judicial foreclosure case out of New York State. A principal issue in the case was whether the foreclosing party (mortgagee, the typical designate in a judicial foreclosure state) possessed the subject…[...]

Continue Reading

Posted in Uncategorized |

You can use the blog chat function for very narrow questions requiring a "yes" or "no" answer or a very short answer. Text messages are frustrating and accomplish virtually nothing. Voice mail messages are about the same as text messages. For the most part, lawyers and homeowners need more from me than that so I have established a procedure in…[...]

Continue Reading

Posted in Uncategorized |

Wall Street banks have weaponized confusion among people in the legal profession that starts in law school. In so doing they have created a virtual creditor when the law requires a real creditor. But they have used the confusion to apply legal presumptions of facts that are untrue. Let's take a look at that. Start with the law. If you…[...]

Continue Reading

Posted in Uncategorized |