When presented with a situation in which a court has ordered mediation or where a proposed modification has been offered, practicitioners (lawyers) should be asking themselves what they would do if they knew for a fact that all of the correspondence, notices and proposed agreements were coming from a party who neither owned the alleged debt, relating to an obligation…[...]

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It has been happening for at least 10 years. Most homeowners never knew it happened. They were served with foreclosure notices and they simply walked away thinking that they had an unpaid account receivable with their name on it and that foreclosure was inevitable. A satisfaction of mortgage, usually by the Bank of America or Ocwen, is recorded in the…[...]

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Thursdays LIVE! Click in to the WEST COAST Neil Garfield Show with Charles Marshall and Bill Paatalo Or call in at (347) 850-1260, 6pm Eastern Thursdays Today Charles Marshall addresses some recent developments in loan workout and securitization practice, with a reference also to Neil's Blog post of March 3 in which he breaks down how in a recent deposition the Bank's Zombie…[...]

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In a very recent deposition expertly done by a lawyer in an extremely conservative state, the grossly illegal plan to falsely present a scenario of "securitization of loans" was laid bare despite many attempts by an experienced witness who confessed that he was primarily a teacher to other witnesses for Mr. Cooper d/b/a Nationstar. The homeowner had simply asked for…[...]

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In today's technology, there is no good reason why all banks, large and small should not be competing for the same customers for services relating to demand deposit accounts and even long-term deposits. They are all equally dependent upon the same technology backbone, electronic funds transfer, and everything else. But bigger is not necessarily better and centralized banking is not…[...]

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I learned early (2006-2011) on when some 26 state bar associations filed various types of complaints or started investigations of my efforts to help homeowners. I fought them all back. Meanwhile, I have seen one lawyer after another falling victim to imaginary violations or discipline that was about 10 times worse than lawyers doing anything other than foreclosure defense. The…[...]

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Today we are still living with the myth that the transactions with homeowners were loans, that the concealed risks absorbed by homeowners should not be compensated, and that administration, collection, and enforcement of nonexistent accounts receivable should be allowed. We can all change that by being open to the idea that maybe it isn't the way that Wall Street is selling…[...]

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The bottom line is that homeowners are mostly successful in defeating the foreclosure attempt entirely by merely issuing timely discovery demands and objections that focus on existence, ownership, and authority over the alleged obligation. They don't need to plead or prove that that the payment they received was an incentive payment. It just ends up that way.  The math is…[...]

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The goal of fake securitization is to pretend that securitization occurred and then to sell securities that were NOT ownership interests in any loan. In order to do that, there needs to be no owner who even could sell the asset (i.e., the "loan") --- lest someone be accused of selling the same asset over and over again. That is…[...]

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Thursdays LIVE! Click in to the Neil Garfield Show Tonight’s Show Hosted by Neil Garfield, Esq. Call in at (347) 850-1260, 6pm Eastern Thursdays There is a huge difference between knowing something and doing something. Everyone knows or at least suspects that the current wave of foreclosures since the year 2000 has been some sort of scam. Only experienced trial lawyers have…[...]

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