First a little background.  On February 6, 2018 a California federal judge certified a nationwide class of borrowers accusing Countrywide Financial Corporation of using inflated real estate appraisals to inflate its loan origination business from 2003 to 2008, overturning successor Bank of America’s claims that borrowers won’t be able to back up their racketeering claims […]

Tags: appraisal fraud, Bank of America, class action, countrywide, Landsafe
Posted in Uncategorized |

Regulators have confirmed that there were widespread errors by banks but that the errors didn’t really matter. They are trying to tell us that the errors had to do with modifications and other matters that really didn’t have any bearing on whether the loans were owned by parties seeking foreclosure or on whether the balance […]

Tags: appraisal fraud, bailout, borrower, disclosure, foreclosure defense, foreclosure fraud, foreclosure offense, LOAN MODIFICATION, securitization
Posted in Corruption, discovery, evidence, foreclosure defenses, Modification, Pleading, Servicer |

Today is National Honesty Day. While it should be a celebration of how honest we have been the other 364 days of the year, it is rather a day of reflection on how dishonest we have been. Perhaps today could be a day in which we say we will at least be honest today about […]

Tags: appraisal fraud, auction fraud, Bank of America, bankruptcy, borrower, countrywide, disclosure, foreclosure, foreclosure defense, foreclosure fraud, foreclosure offense, modification, predatory lending, securitization, Wells Fargo
Posted in Corruption, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Pleading, securities fraud, Servicer |

Kudos again to Jim Macklin for sitting in for me last night. Excellent job — but don’t get too comfortable in my chair :). Lots of stuff in another mini-seminar packed into 28 minutes of talk. A big point made by the attorney guest Charles Marshall, with which I obviously agree, is don’t admit the […]

Tags: appraisal fraud, bankruptcy, borrower, disclosure, foreclosure, foreclosure offense, investors, Lender Liability, securitization
Posted in Corruption, discovery, evidence, foreclosure defenses, Pleading, Servicer |

I have frequently commented that one of the first things I learned on Wall Street was the maxim that the more complicated the “product” the more the buyer is forced to rely on the seller for information. Michael Lewis, in his new book, focuses on high frequency trading — a term that is not understood […]

Tags: appraisal fraud, bailout, countrywide, disclosure, Fannie, foreclosure, foreclosure defense, foreclosure offense, FORECLOSURE SETTLEMENT, fraud, RESPA, securitization, TILA audit
Posted in Corruption, discovery, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Pleading, securities fraud, Servicer |

When I first got into this mortgage mess I called counsel for Aurora on a foreclosure case pending in California. I asked him how the currently self-designated entity pursuing foreclosure could justify its actions. His answer was “we are the holder.” So I asked him again why a company that has no financial stake in […]

Tags: appraisal fraud, Daiwa Products, Davis vs. West, for value, Inc. v Nationsbank, Kind v Gittman, N.A, U.S. v Second National Bank of North Miami, UCC 3-305
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

““The words PONZI SCHEME and FRAUD applied to the mortgage meltdown has been largely dismissed by policy makers, law enforcement and regulators. Instead we heard the terms RISKY BEHAVIOR and RECKLESSNESS. Now law enforcement has finally completed its investigation and determined that those who set the tone and culture of Wall Street were deeply involved […]

Tags: appraisal fraud, benefit of the bargain, defective mortgages, exemplary damages, fraud, Libor, market manipulation, pattern of behavior, Ponzi, punitive damages, TILA, treble damages
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

We have come a long way in six years. Back in 2007 almost everyone thought that the mortgage bonds were valid instruments issued by a valid entity that owned valid mortgages. Now we have Reuters news service reporting that “home loans underlying securities were rotten from the start.” Thus we are crossing that line where […]

Tags: account receivable, appraisal fraud, auction fraud, bailout, Bank of America, Bloomberg, Chase Bank, commodities, disclosure, Federal reserve, foreclosure, foreclosure fraud, Reuters, securitization
Posted in Corruption, Eviction, evidence, Servicer |

CHECK OUT OUR DECEMBER SPECIAL! What’s the Next Step? Consult with Neil Garfield For assistance with presenting a case for wrongful foreclosure, please call 520-405-1688, customer service, who will put you in touch with an attorney in the states of Florida, California, Ohio, and Nevada. (NOTE: Chapter 11 may be easier than you think). Editor’s […]

Tags: AIR, appraisal fraud, Appraisal Independence Requirement, Diane Spiteri, ownership of appraisal report, US Appraisal Group
Posted in bubble, Corruption, Eviction, securities fraud |

What’s the Next Step? Consult with Neil Garfield CHECK OUT OUR NOVEMBER SPECIAL For assistance with presenting a case for wrongful foreclosure, please call 520-405-1688, customer service, who will put you in touch with an attorney in the states of Florida, California, Ohio, and Nevada. (NOTE: Chapter 11 may be easier than you think). Editor’s […]

Tags: appraisal fraud, credit bid, Eviction, foreclosure sale, foreclosure scam, fraud, legitimate debt, pension funds, seniors foreclosure, underwater, widow foreclosure
Posted in bubble, Corruption, Eviction, securities fraud |