Well you have to give credit to Sheila Baer> She gets it. Here she is going after the IndyMac executives for making loans to developers that they knew would not be repaid. It is the first time that an important agency has recognized the link between the malfeasance of the originating lenders, the securitization intermediaries […]

Tags: appraisals, developers, FDIC, INDYMAC, Sheila Bair
Posted in Uncategorized |

One of the hardest things for people to get their minds around is how borrowers were defrauded. The nagging question keeps coming to mind “But you DID sign the loan and take the money, didn’t you?” Yes you did, but you did it because of a representation and virtual guarantee from several parties at the […]

Tags: appraisals, derivatives, loans, mortgage bonds, ratings
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Pleading, securities fraud |

It is hard to state this strongly enough. The entire mortgage backed securitization structure was based upon FRAUD. An intentional misstatement of a material fact known to be untrue and which the receiving party reasonably relies to his detriment is fraud. BOTH ends of this deal required fraud for completion. The investors had to believe […]

Tags: accountants, appraisals, fraud, lending fraud, Ponzi, predatory lending, ratings, risk, securities fraud, value
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

REGISTER NOW FOR DISCOVERY AND MOTION PRACTICE WORKSHOP MAY 23-24 Editor’s Note: As these hearings progress, you will see more and more admissible evidence and more clues to what you should be asking for  in discovery. You are getting enhanced credibility from these government inquiries and the results are already coming out as you can […]

Tags: admissible evidence, appraisals, Carl Levin, collateralized debt obligations, corrupt, credibility, David A. Skeel, discovery, enhanced credibility, HERS, inflation of the appraisals, loan product, market forces, Moody's Investors Service, Motion Practice, pattern of illegal conduct, rating agencies, rating system, Rating=Appraisal, reasonably relied, Securities and Exchange Commission, SEWELL CHAN, Standard & Poor's, Stockholm syndrome, University of Pennsylvania
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Editor’s note: This is red meat for investors and borrowers seeking restitution for losses caused by improper appraisals, ratings and representations concerning loan and property values, loan viability, securities fraud, deceptive lending practices, TILA violations etc. Obama Bank Policy Signals $1 Trillion in Writedowns April 3 (Bloomberg) — U.S. regulators may force Bank of America […]

Tags: appraisals, Bank of America, Bloomberg, Citigroup, deceptive lending, foreclosure defense, property values, ratings, securities fraud, TILA violations, Writedowns
Posted in bubble, Corruption, Eviction, securities fraud |

Ease of entry was a key in the jump from 11,000+- in CA in 1990, to over 21,000 by 2007. From Steve Smith This comment is not made to defend the actions of any appraiser, or the appraisal industry itself, but to add some dimension of what was going on transactionally. Sadly, appraisers were Conditioned […]

Tags: appraisals, COnditioned to Anchor on Sales price, templates, USPAP
Posted in Eviction |

Editor’s Note: This might not be as far-fetched as you think. Median income is dropping like a rock. Housing prices have historically been closely related to median income. I don’t know about the percentage drop, but another crash in real estate values seems likely. median income is still out of whack with housing prices indicating […]

Tags: appraisals, credit crisis, disclosure, foreclosure defense, foreclosure offense, fraud, housing prices
Posted in bubble, Corruption, Eviction, securities fraud |

Appraisal negligence and/or fraud is overlooked by many. Appraisers are usually licensed and insured. Filing a complaint with the licensing board as well as sending a demand letter to them to forward to their carrier could produce some substantial results. And remember that the originating “LENDER” supposedly has a committee or person verifying the appraisal […]

Tags: appraisal fraud, appraisals, appraiser's insurance, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, predatory lending, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

From: rainmaker@zoomtown.com > To: ngarfield@msn.com > Subject: Just a thought…opposing arguments > > On the whole idea with an inflated appraisal and the $amount delta between real and legit, if I’m opposing counsel I argue that that the only one an inflated appraisal benefited was the seller of the property, not anyone in the chain […]

Tags: appraisals, foreclosure defense
Posted in Eviction |

Fraudulent Appraisals, Teaser Rates, and Manufactured Defaults: Boons to Borrowers in Defending Foreclosure As more and more lender misconduct hits the Internet airwaves and more of us continue our investigation into and scrutiny of the practices of originating lenders and their downline successors, certain themes are developing which give rise to numerous defenses to mortgage foreclosure actions. Three such […]

Tags: appraisals, ARM, default in payment, foreclosure, HELOC, interest rates, investment bankers, originating lenders, servicing agent, stated income, successors, teaser rates
Posted in Eviction |