While Mr. Barnes’ enthusiasm in the submission below is a bit over the top it points out quite skillfully that things are not as they appear in any foreclosure involving a securitized loan. Barnes was effective in pressing the point early on and refusing to accept the burden of proof on issues where it was […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, securitization, trustee
Posted in bubble, Eviction |

July 15, 2009 Calpers Sues Over Ratings of Securities By LESLIE WAYNE SACRAMENTO — The nation’s largest public pension fund has filed suit in California state court in connection with $1 billion in losses that it says were caused by “wildly inaccurate” credit ratings from the three leading ratings agencies. The suit from the California […]

Tags: borrower, credit crisis, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, securitization
Posted in bubble, Eviction |

“The people running this system remind me of gangsters who manage to walk out of the courthouse with a suspended sentence and can’t wait to get back to their nefarious activities.” “Today’s business model is about making money through tricks and traps.” –Elizabeth Warren Chairman of Oversight Committee There is nothing free or fair about […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, RESPA, RICO, securitization
Posted in bubble, Eviction |

Maher Soliman and Steve Kop have hit the nail on the head. The only grey area that needs to be explored is the same cinfused mess that started this. The SPE is a conduit by definitition. It is a REMIC. That means it does NOT own the mortgages and notes and it does not own […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, money, mortgage meltdown, rescission, securitization, trustee
Posted in bubble, Eviction |

Maher Soliman suggested that we consider throwing the SPV Trusts into receivership. Here was my response: MSOLIMan: Forcing the trust into receivership might be a good idea — or even forcing into involuntary bankruptcy. But be careful here. While the Trustee maintains that a trust exists and that the trustee has powers over the subject […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, securitization, trustee
Posted in bubble, Eviction |

GRETCHEN MORGENSON of the New York Times Keeps Getting It Better and Better. In Today’s article she demonstrates tenacity, insight and combines it with her excellent writing skills. Send her some fan mail. What follows is one of my annotations on one of the many books, treatises and articles that I am constantly reading on […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, JP Morgan, Lehman, Lender Liability, lost note, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in bubble, Eviction |

Pretender Lenders — read and weep. Game Over. Over the next 6-12 months the entire foreclosure mess is going to be turned on its head as it becomes apparent to even the most skeptical that the mortgage mess is just that —  a mess. From the time the deed was recorded to the time the […]

Tags: bankruptcy, borrower, credit, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lenders, lost note, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in bubble, Corruption, Eviction, Modification, securities fraud, Servicer |

Don’t get misled by titles. The wording of the statute clearly uses “verification” not validation. Verification generally means some sworn document or affidavit. This means when you contest the debt under FDCPA (in addition to sending a QWR) the party who is supposedly collecting or enforcing the debt has a duty to “obtain verification”. And […]

Tags: bankruptcy, borrower, credit, disclosure, FDCPA, foreclosure defense, foreclosure offense, fraud, Lender Liability, Mortgage, securitization, TILA audit, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

Debtor Without Lawyer Defeats Motion for Relief from Stay, Based on Lack of Standing By Craig Andresen, Minnesota Bankruptcy Attorney on Mar 29, 2009 in Featured, Foreclosure Defense, Mortgage Issues In Bankruptcy, Mortgage Servicer Abuses A Washington bankruptcy court recently agreed with a pro se debtor that mortgage servicing agents do not possess legal standing […]

Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, securitization, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

When U.S. Bank comes in as Trustee for the the holders of series xyz etc., the use of the words Trustee and series certificates give it an air of legitimacy. But this is probably just another bluff. Reading the indenture on the bond (mortgage backed security) and the prospectus, you will see that the “Trust” […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, predatory lending, REMIC, rescission, RICO, securitization, taxation, trustee
Posted in bubble, Corruption, Eviction, Modification, securities fraud, Servicer |