The simple mortgage on a home had been broken into many pieces (tranches --- See Special Purpose Vehicle (SPV)) each having characteristics of entities unto themselves. The term "borrower" was severed from the the obligation to pay. The term "lender" was severed from the risk of loss and the right to payment from the borrower. The term "investor" was severed…[...]

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Tags: civil procedure, DIRECTORS, discovery, ERRORS AND OMISSIONS, insurance, OFFICERS, risk of loss, SPV, tranches, underwriting
Posted in bubble, Corruption, Eviction, securities fraud |

McClatchy Washington Bureau Posted on Sun, Jun. 08, 2008 Credit crisis expands, hitting all kinds of consumer loans Kevin G. Hall | McClatchy Newspapers last updated: June 08, 2008 08:39:12 PM WASHINGTON — The credit crisis triggered by bad home loans is spreading to other areas, forcing banks to tighten credit and probably extending the credit crisis that's dragging down…[...]

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Tags: consumer, credit, securitization
Posted in Eviction |

SEE GARFIELD'S GLOSSARY AND TACTICAL GUIDELINES  https://livinglies.me/glossary-mortgage-meltdown-and-foreclosure/ THE UNDERLYING THEME OF THE MORTGAGE MELTDOWN WHICH HAS SIGNIFICANCE TO FORECLOSURE DEFENSE IS THAT FOR EACH "LOAN" TRANSACTION THERE WERE CORRESPONDING INVESTMENTS IN ONE OR MORE ASSET BACKED SECURITY, BOTH (MORTGAGE AND ABS) DEPENDENT ON EACH OTHER FOR THEIR CREATION. THE SPREADING OF RISK, THE OBLIGATION FOR PAYMENT, AND THE SEPARATION OF…[...]

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Tags: affirmative defenses, counterclaims, foreclosure defense, jurisdiction, mortgage securitization, payment
Posted in Eviction |

Thus the fund is present for payment and controlled by the combined entities of the entire single transaction. A default by the borrower is actually therefore impossible under the scheme of securitization as it was implemented.  The fact that the borrower has not made a payment to the mortgage service provider has typically been accepted as prima facie proof that…[...]

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Tags: asset backed security, defense of payment, foreclosure defense, fund for payment, third party payment
Posted in Eviction |

Most lawyers and borrowers take it for granted that they know what a "lender" is. They take it for granted that they know that this was a "mortgage" transaction. They take it for granted that the transaction was legal but for the legal challenges you wish to mount to ward off foreclosure, sale or eviction. But what if the so-called…[...]

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Tags: CALIFORNIA, corporations, Florida, intangible tax, lender, Lender Liability, registration, secretary of state, securities, Washington Mutual
Posted in Eviction |

  Mortgages in foreclosure jump in first quarter Foreclosure starts, delinquency rate also rise in first months of 2008: MBA By Amy Hoak, MarketWatch Last update: 2:13 a.m. EDT June 6, 2008       CHICAGO (MarketWatch) -- More homeowners headed toward foreclosure in the first three months of 2008, as both the percentage of loans somewhere in the foreclosure…[...]

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Tags: foreclosure defense, mortgage meltdown
Posted in Eviction |

NO worries really. The causes of action are mostly Federal and can be brought in Federal Court under Federal law. ANd the law is unworkable after the borrower has filed suit in state court or Federal Court. I might add that Judges, Sheriffs, and others are wary of the constitutionality of laws enabling the lender to proceed without dude process…[...]

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Tags: Florida, foreclosure defense
Posted in Eviction |

This is a developing resource for attorneys and borrowers to assist them in creating strategies and tactics in foreclosure defense and offense. Assistance and comments regarding bankruptcy jurisdiction is also covered. Bottom Line: The procedure invoked by the mortgage meltdown scheme defrauded investors (false ratings and insurance) in asset backed derivative securities, who were the source of funding for the…[...]

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Tags: ABC, asset backed security, borrower, fees, foreclosure defense, loan, Mortgage, note, revenue, securitization, transaction fees
Posted in Eviction |

Financial Services Bad News Banks Liz Moyer, 05.29.08, 3:00 PM ET    The number of troubled U.S. banks is rising. The outlook: more pain as the credit crisis enters its second wave. The Federal Deposit Insurance Corp. (FDIC) is now tracking 90 "problem" banks, 18% more than in the fourth quarter and the most in almost four years. Banks are struggling…[...]

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Tags: bank failures, brokered deposits, FDIC
Posted in Eviction |

Taking the entire Mortgage Meltdown process as a single transaction starting with the origination of the loan to the borrower and ending with the sale of an asset backed security to an investor, a pattern of deception and confusion emerges --- providing the borrower with an arsenal of offensive and defensive strategies to avoid foreclosure, recover damages and even free…[...]

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Tags: appraisals, FDIC, Fitch ratings, foeclosure defense, Lender Liability, Moody's Investor Service, mortgage meltdown, rating agencies, single transaction, Standard & Poor's
Posted in Uncategorized |