It appears I need to weigh in here. My objective was to let the "free market" operate and have people offer various services that would assist homeowners in fighting or challenging their lenders. What we have instead is some service providers performing some of the work needed in a forensic review and many of these service providers calling themselves experts.…[...]

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Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, lost note, predatory lending, rescission, securitization
Posted in bubble, Eviction |

In November of 2008, AIG answered a request from the SEC that requird them to explain the inner workings of Credit Default Swaps. While they appear to have finessed certain issues, this is the clearest glimpse of how it worked. There are several classes of transactions but each of them involves some "delivery" of the underlying "performance obligation." Thus any…[...]

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Tags: bailout, bankruptcy, borrower, credit, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lenders, securitization, trustee
Posted in Eviction |

The Reno Class Action attorneys and others, including Elizabeth Warren, Chairwomen of the Congressional Oversight Committee, want to know where this money went, whether it satisfied obligations, and whether the obligations satisfied inure to the benefit of homeowners who purchased loan products from a Ponzi securitization scheme or otherwise. $13 trillion in mortgages were issued during the mortgage meltdown period,…[...]

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

People have been asking about class actions. With a little bit of help at www.classadvocate.com I have come up with the following list. The one to watch is in Reno Nevada filed by Hager and Hearne. It covers Arizona, Nevada, and California. It has not been certified yet as a class action. I am involved as an expert witness in…[...]

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Tags: borrower, brad keiser, countrywide, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, predatory lending, rescission, RESPA, securitization, trustee, Wells Fargo
Posted in bubble, Eviction |

1st Annotation of Landmark v. Kesler: IN THE SUPREME COURT OF THE STATE OF KANSAS No. 98,489 LANDMARK NATIONAL BANK, Plaintiff/Appellee, v. BOYD A. KESLER
Appellee/Cross-appellant
MILLENNIA MORTGAGE CORPORATION,
Defendant,
(MORTGAGE ELECTRONIC REGISTRATION
SYSTEMS, INC. AND SOVEREIGN BANK),
Appellants/Cross-appellees,
and
DENNIS BRISTOW AND TONY WOYDZIAK,
Intervenors/Appellees. filed August 28, 2009 “The second mortgage lies at the core of this appeal. That mortgage document stated that the mortgage was made…[...]

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

Neighbors: Wells Fargo exec. moved into Malibu beach home surrendered to bank by couple   MALIBU, Calif. (AP) -- A Wells Fargo & Co. executive who oversees foreclosed properties hosted parties and spent long summer weekends in a $12 million Malibu beach house, moving into the home just after it had been surrendered to Wells Fargo to satisfy debts, neighbors said.…[...]

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Posted in Uncategorized |

Aoude v. Mobil Oil Corp., 892 F.2d 1115, 15 Fed. R. Serv. 3d 482 (1st Cir. 1989) ("Because corrupt intent knows no stylistic boundaries, fraud on the court can take many forms.") People are always asking how they go about getting their house back or how they stop a sale that is in process. One answer of course is the…[...]

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

It was September 6, 2001. I was visiting friends at the World Executive Buildings in Manhattan. The tall buildings with their majestic atriums and the two neighboring towers reaching up to the sky were a little intimidating even for me. I’d been there before these structures were built. We were all abuzz about derivatives and the coming explosion in finance…[...]

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Posted in Uncategorized |

Here is PART of the next wave of "defaults" that will ruin lives and fill the pockets of the Wall Street bankers and intermediaries who are now "servicing" and foreclosing on loans that have already earned extremely high profits, far exceeding the funded amount of the loan. My opinion is that there will be three general classes of people that…[...]

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Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, predatory lending, rescission, securitization, trustee, Wells Fargo
Posted in bubble, Eviction |

Makes for very good reading. Shows that the advent of low-doc and non-doc loans were, as epected, sure to result in higher delinquencies. As we have pointed out before here, that was the point --- to get loans that were sure to go into default. That was the only way they collect the "insurance" (credit default swaps). liars_loan[...]

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Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization, TILA audit
Posted in bubble, Corruption, Eviction, securities fraud |