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 |

The FBI seems to be assuming that all mortgage fraud is by borrowers, appraisers and mortgage brokers. The perception is that the lenders were victims. Sometimes that is true, but most of the time it isn't. Prosecutors fail to note that in virtually every case, the lender knew exactly what was going on and went along with it anyway because…[...]

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Tags: appraiser liability, criminal mortgage fraud, Las Vegas mortgage fraud, mortgage broker liability, mortgage meltdown
Posted in Eviction |

Steven of Portsmouth, VA (05/24/08) My mortgage was on military allotment and Chase said that they had not received payment several times that they had, or they would hold payments saying thet they weren't received until there were late fees due.  I ended up in foreclosure with nobody believing that I was being ripped off until after I was forced…[...]

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Tags: Chase, foreclosure, predatory lending
Posted in Eviction |

In 1999 we purchased a cozy 3 br. home with the help of Citi Financial. We had 2mortgages on this home. Our payments were high,which was due to our past credithistory, but we were on the way to cleaning our credit up that is until I became very ill and then developed an injury on top of it. I ended up loosing…[...]

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Tags: foreclosure, predatory lending
Posted in Eviction |