Article below submitted From the desk of Brad Keiser: Editor's note: This is a perfect example of why ignoring the complexities of securitization leaves all the red meat on the table. The commingling of funds that is cited in the article below is exactly what I have I have been talking about , exactly why the pretender lenders balk at…[...]

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Tags: affordability, APR, resets, securitized transactions, TILA audit, yield, yield spread, yield spread premium
Posted in bubble, Corruption, Eviction, securities fraud |

Resubmitted by Dan Edstrom. Good Question where is the FTC now? Bear Stearns and EMC Mortgage to Pay $28 Million to Settle FTC Charges of Unlawful Mortgage Servicing and Debt Collection Practices The Bear Stearns Companies, LLC and its subsidiary, EMC Mortgage Corporation, have agreed to pay $28 million to settle Federal Trade Commission charges that they engaged in unlawful…[...]

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Posted in Uncategorized |

2010/03/03 at 12:34pm IN THE CIRCUIT COURT OF THE FOURTH JUDICIAL CIRCUIT, IN AND FOR DUVAL COUNTY, FLORIDA CASE NO.:16-2007-CA-00852-XXXX-MA DIVISION: CV-D DEUTSCHE BANK NATIONAL TRUST COMPANY Plaintiff, vs. ERICO LOGAN, ET AL, Defendant. ______________________________/ DEFENDANTS ERICO LOGAN AND GLORIA BROOK’S ANSWER AFFIRMATIVE DEFENSES; COUNTERCLAIMS AND DEMAND FOR JURY TRIAL COME NOW, the separate Defendants and for their answer, affirmative…[...]

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Tags: affirmative defenses, answer, April Charney, counterclaims
Posted in Corruption, Eviction |

You must remember the judiciary moves slowly is assimilating new facts or patterns in the marketplace. In order to break through a Judge's preconception of the mortgage origination process, you need to have something that is clear in is presentation of facts, and obvious in its impact. The reasons for having analysis performed by an independent third party is that…[...]

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Tags: affordability, April Charney, audit, brad keiser, damages, deceptive lending, demand letter, Discrepancies, DVL, evidence, facts, forensic analysis, independent third party, latent violations, MAX GARDNER, patent violations, predatory lending, programming, QWR, refunds, REPA, TILA
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Note: Looking further down the road, when the Ponzi aspect of the Mortgage Meltdown is fully revealed, it will become obvious that both yield spread premiums and the proceeds of credit default swaps, insurance and federal bailout are subject to claims by homeowners. The Trustee's conclusion as affirmed by the Judge's ruling in the Madoff case will undoubtedly come…[...]

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Tags: accounting, bailout, credit-default swap, Daid J. Sheehan, damages, Diana B. Henriques, distribution, insurance, Judge Lifland, Madoff, Ny Times, Picard, Ponzi, SEC, SIPC, standing, Stephen P. Harbeck, TILA, trustee, yield spread premium
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Comments: Everyone now has heard of credit default swaps but very few people understand what they mean and fewer still understand their importance in connection with the securitization of residential mortgage loans and other types of loans.The importance of understanding the operation of a CDS contract in the context of foreclosure defense cannot be understated. In summary, a CDS…[...]

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Tags: accounting, CDS, credit default swaps, creditor, DEBTOR, default, delinquency, downgrade, excess proceeds, loss reserves, non-payment, payment, pretender lender, TILA
Posted in bubble, Corruption, Eviction, securities fraud |

Liening on NY homeowners TRUSTEE SAYS "Chase filed documents that appear to be patently false or misleading" As pointed out in this article, 95% of foreclosures are NOT scrutinized. This is why homeowners need to go to forensic analysts, experts and lawyers. Most people are walking away from homes they still own on the basis of a claim by a…[...]

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Tags: Baum, Diana Adams, forensic analysis, JP Morgan Chase, Judge Robert E Gerber, NY POST, ownership of the mortgage, questionable assignments, Richard Wilner, securitization, Shaev and Fleischman, TILA audit
Posted in bubble, Corruption, Eviction, securities fraud |

"Yet on a wholesale basis, Goldman Sachs and others not only had the inside information, they had created it. That is why Goldman started trading against the the interests of its clients to whom it was selling mortgage backed securities that were designed to fail" "Both the investor and the borrower would have understood that sometimes very little of the…[...]

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Tags: credit default swaps, damaes, insider trading, investors, loan as security, rescission, SEC, undisclosed fees and profits
Posted in bubble, Corruption, Eviction, securities fraud |

The fact is that credit default swaps and other complex derivatives that have proved to be instruments of mass destruction still remain entrenched in our financial system three years after our economy was almost brought to its knees. Editor's Note: Credit default swaps were the glue that held the mortgage meltdown scheme together. If there had been transparency on an…[...]

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Tags: Bernanke, credit default swaps, derivatives, Greece, Gretchen, Martin mayer, Morgenstern, Ny Times, SEC, Wall Street bankers
Posted in bubble, Corruption, Eviction, securities fraud |

from June Reyno: 2010/03/30 at 2:43pm Once all of this information has been compiled with all their names, titles, addresses, signatures, company affiliation– we should then begin submitting these (i.e. notary public signatures) to various state agencies for confirmation and verification that these “people” are actually who say they are on the paper closing statements (if it can be found)…[...]

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Tags: ARM, Bankruptcy automatic stay, Bonafide Purchasers, CC 1161(a), County Recorder’s Office, fiduciary, LLC, Option One Mortgage Corporation, Residential Funding Real Estate Holdings, San Diego Police Dept., trustee, Washington Mutual
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, securities fraud, Servicer |