Many Thanks to Max Gardner for this contribution: See  entire Case at US Bank v Ibanez Memo of Decision Denying US Bank Mts Oct 14 2009Misc 384283 and Misc 386755 See Neil's Abstract: judge-long-principal-must-be-disclosed See Boston Globe Article: judge-long-massachusetts-foreclosure-decision-throws-securitization-intermediaries-into-chaos-reo-sales-stopped See what-do-these-case-decisions-mean US Bank v Ibanez. Memo of Decision Denying US BankMts. Oct.14.2009 Misc 384283 and Misc 386755.doc "The issues in…[...]

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Tags: bankruptcy, borrower, disclosure, Eviction, foreclosure defense, foreclosure offense, fraud, lender, Lender Liability, predatory lending, rescission, securitization, TILA audit, title issues, trustee, vacating order of foreclosure
Posted in bubble, Eviction |

Kathleen Engel, professor of law at Suffolk University, said the federal government should step in to help states deal with “toxic titles’’ that are clogging up the system from California to Florida. She said until recently few people were scrutinizing paperwork of foreclosing lenders, whose actions are causing problems for borrowers, investors, and municipalities. No matter how Long rules, she…[...]

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Tags: bankruptcy, borrower, disclosure, foreclosure defense, Lender Liability, lenders, lost note, mortgage meltdown, predatory lending, rescission, securitization, TILA, trustee
Posted in bubble, Eviction |

the use of nominees or straw men doesn't mean they can be considered principals in the transaction anymore than your depository bank is a principal to a transaction in which you buy and pay for something with a check. The fact that the money was processed through your depository bank doesn't make them party to the transaction. In answer to…[...]

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Tags: bankruptcy, borrower, disclosure, Eviction, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, rescission, securitization, trustee
Posted in bubble, Eviction |

SEE Entire Article: porter While concentrating on Bankruptcy Court all of her points are instructive in all types of litigation. "From external indicia, the claims process in consumer bankruptcy cases seems like an exemplar of a well-designed legal system that balances the interests of consumers and industry.  The claims rules are unambiguous; all parties typically are represented; the process is…[...]

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Tags: bailout, bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, predatory lending, RESPA, securitization, trustee
Posted in bubble, Eviction |

SEE wells-fargo-steps-on-a-rake-we-hope-eggs-a-new-country SEE 2009-Ohio-1092 Exactly as we predicted, the Wells Fargo appeal was an arrogant display of attempting to alter the law simply on the basis of the size of the institution. Bullying at its stupidest. They were looking to create precedent to say that anyone in the securitization chain can bring enforcement of a note, anyone can bring enforcement…[...]

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Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, securitization, Wells Fargo
Posted in bubble, Eviction |

\"60 Minutes\" on World Savings Bank May 15, 2009 High & Low Finance A Bank Is Survived by Its Loans By FLOYD NORRIS In a mortgage market gone crazy with generous loans, no one was more generous than World Savings. Lots of banks offered mortgages that allowed borrowers to pay less than the amount of interest being charged, but World…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Note: It's hard to imagine that we could have been any more scared than we were a year ago when it looked like we were going over a cliff. And yet we wasted the crisis and continue business as usual despite dire warnings from Simon Johnson (see article below) who has the prospective of being in senior management at…[...]

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Tags: bailout, disclosure, Federal reserve, fraud, Lender Liability, mortgage meltdown, Obama, securitization, trustee
Posted in bubble, Eviction |

October 9, 2009 Editorial Another Kind of Foreclosure Crisis The foreclosure crisis is being made substantially worse by a shortage of lawyers for people whose homes are at risk. According to a new study, an overwhelming number of homeowners who face foreclosure do not have legal help in protecting their rights. As a result, people are losing their homes who…[...]

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Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, Lender Liability, mortgage meltdown, securitization
Posted in bubble, Eviction |

Editor's Note: The simple truth is this is a ruse. For most people they are under water at the beginning, in the middle and at the end. For most people they will not be able to maintain the payments and they will either fail or refuse to do so. Treasury is kidding itself if it thinks the American public will…[...]

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Tags: bailout, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, predatory lending, securitization
Posted in bubble, Eviction |

Editor's Note: They just WON'T get it. Of course they will need a bailout because prices must continue to go down. Just look at the Schiller index that removes inflation from the price of housing and compares it to median income. A child could see where this is going and Washington is covering its eyes hoping that when they open…[...]

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Tags: bailout, borrower, credit crisis, disclosure, Federal reserve, foreclosure defense, fraud, Lender Liability, mortgage meltdown, securitization
Posted in bubble, Eviction |