How to Find “Who Owns The Note” – Who has an “Insurable Interest” !!!! It is basic insurance law that in order to become named as a loss payee – that is, to get an insurance policy issued to you to indemnify you against loss – you have to have an “insurable interest.” MERS doesn’t ( as far as I…[...]

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Tags: assignments, brad keiser, creditor, hypothecation, insurable interest, lender policy, loss payee, MERS, Steven Kop, UCC 9-301-304, Who Owns the Note
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Note: I am currently working on the issue of fiduciary duty, so I would appreciate receiving material from any of you that have submissions on the subject. There is an article in the Florida Bar Journal this month on this topic. "If a fiduciary has special skills or becomes a fiduciary on the basis of representations of special skills…[...]

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Tags: agent, assignments, attorney, borrower, close-out, fiduciary duty, Florida Bar Journal, Kammerer, Landers, loan originator, Mariani, Ny Times, recordable, REMIC, SIV, special skills or expertise, SPV, TARA SIEGEL BERNARD, TILA, trust, trustee, undisclosed fees and profits
Posted in bubble, Corruption, Eviction, securities fraud |

"That’s right. Issuers are essentially paying twice for flawed deals that bestowed great riches on the bankers and advisers who sold them. Taxpayers should be outraged, but to be angry you have to be informed — and few taxpayers may even know that the complicated arrangements exist." Editor's Note: At some point, it will become obvious and axiomatic that Wall…[...]

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Tags: apraisal, credit default swaps, fiduciary duty, fraud, Gretchen Morgenstern, insurance, investment bankers, Jefferson County, local government, Ny Times, property, title
Posted in bubble, Corruption, Eviction, securities fraud |

More and more authorities are holding that in order for a claimant to prove itself to be the real party in interest to support a proof of claim or motion for relief from stay in bankruptcy, as well as to prove itself to be a holder in due course, they have to prove the entire chain of "ownership" and "holdership"…[...]

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Tags: brad keiser, chain of ownership, creditor, forensic analysis, Lane Houk, MERS, MIN report, real investor, REAL PARTY IN INTEREST, Ron Ryan
Posted in bubble, Corruption, Eviction, securities fraud |

Doesn't anyone see that if "financial services" accounts for 40% of our GDP that it means we are kidding ourselves? THAT only means we are trading from the left pocket into the right pocket into the back pocket and around again --- and counting it as GDP. Our real GDP is far lower than anything reported. Editor's Note: The U.S.…[...]

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Tags: bubble, building, consumer confidence, evidence, financial services, housing, housing market, jobs, Leonhardt, Ny Times, presumptions
Posted in bubble, Corruption, Eviction, securities fraud |

Option One Mortgage Corporation merely changed its name to Sand Canyon Corporation June 4, 2008. It is still registered as a California corporation. American Home Mortgage Servicing is a Delaware corporation located in Irving, Texas which merely services the loans. Wells Fargo is the Trustee of the pool of Option One Mortgage Loan Trust etc.[...]

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Tags: American Home Mortgage Servicing, HERS, Irving, Option One Mortgage Corporation, Sand Canyon Corporation, Texas, Wells Fargo, Wells Fargo is the Trustee of the pool of Option One Mortgage Loan Trust etc.
Posted in bubble, Corruption, foreclosure mill, securities fraud |

Maybe the fact that it came from Goldman will motivate some people to take a second look at where we are on health care. Goldman likes the two biggest health insurance companies because it says profits are going up due to lack of competition and lack of regulation. Like the foreclosure mess, the fact that this is further damaging what…[...]

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Tags: bankruptcies, defaults, foreclosures, Goldman Sachs, health insurance, health-care reform, housing prices
Posted in bubble, Corruption, Eviction, securities fraud |

You Just Can't Hide It: Until the market and the judiciary gets real about these mortgages, foreclosures will continue to skyrocket, people will walk away from their homes, and the demand for alternative housing needs will skyrocket as well --- which might be the underlying reason why nobody wants to do principal reduction and solve the problem. Throwing millions of…[...]

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Tags: John Krerowicz, Kenosha News, Kensoha County, principal reduction, Wisconsin
Posted in bubble, Corruption, Eviction, securities fraud |

The following is an excerpt from a 10-K/A SEC Filing, filed by GSR MORTGAGE LOAN TRUST 2006-8F on 7/1/2008. Next Section Next Section Previous Section Previous Section http://sec.edgar-online.com/gsr-mortgage-loan-trust-2006-8f/10-ka-amended-annual-report/2008/07/01/section31.aspx EX-33 (c) Restated Report on Assessment Regarding Compliance with Applicable Servicing Criteria 1. Avelo Mortgage, LLC (the “Servicer”) is responsible for assessing compliance, as of December 31, 2006 and for the period…[...]

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Tags: 2006-8F, 7/1/2008, Altshuler, Applicable Servicing Criteria, Assessment, Avelo Mortgage, Compliance, David M. Altshuler, GS Mortgage Securities Corp, GSR MORTGAGE LOAN TRUST 2006-8F on 7/1/2008., HERS, LLC, PricewaterhouseCoopers LLP, Vice President and CFO
Posted in Corruption, foreclosure mill, Modification, securities fraud, Servicer |

Foreclosures now are just ‘tip of the iceberg’ March 1st, 2010, 7:36 am · 108 Comments · posted by Marilyn Kalfus, real estate reporter Despite some reports that suggest the housing crisis may be hitting bottom, foreclosures so far represent the “tip of the iceberg,” real estate analyst, investor and lender Bruce Norris says. Norris told hundreds of investors attending a seminar…[...]

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