Archives by Tag ' creditor '
SEE The Economics and Incentives of Yield Spread Premiums and Credit Default Swaps March 23, 2010: Editor’s Note: The YSP/CDS paper is intentionally oversimplified in order to demonstrate the underlying economics of securitization as it was employed in the last decade. To be clear, there are several things I was required to do in order […]
Upon finding that a portion of those payments should be applied to the subject loan, the declaration of default would be invalid because it would either be wrong inasmuch that the third party payments would at least be prepayments of future monthly payments, or wrong because the third party payments reflected an inaccurate accounting of […]
Editor’s Note: Here is where the foreclosure or mortgage analysts get separated — the ones who understand the process of securitization and the ones who don’t. I received this from a pro se litigant in a case where Wells Fargo identified itself as the creditor/lender (as usual, not true). In fact Wells denied that the […]
“Without your blog I would not have found the right lawyer in my state.” – Meghan in RI “Some of the most rewarding work of my career.” – Chris Brown Esq. While we understand the many reasons borrowers pursue their cause on a ProSe or ProPer basis, it has been our position since the […]
How to Find “Who Owns The Note” – Who has an “Insurable Interest” !!!! It is basic insurance law that in order to become named as a loss payee – that is, to get an insurance policy issued to you to indemnify you against loss – you have to have an “insurable interest.” MERS doesn’t […]
More and more authorities are holding that in order for a claimant to prove itself to be the real party in interest to support a proof of claim or motion for relief from stay in bankruptcy, as well as to prove itself to be a holder in due course, they have to prove the entire […]
Editor’s Comments: Everyone now has heard of credit default swaps but very few people understand what they mean and fewer still understand their importance in connection with the securitization of residential mortgage loans and other types of loans.The importance of understanding the operation of a CDS contract in the context of foreclosure defense cannot be […]
the obligation created when the debtor entered the transaction may well be satisfied in whole or in part by the U.S. Taxpayer, insurers, or counterparties in credit default swaps. Wall Street attempts to frame the argument as giving a free house to the unworthy homeowner. The TRUE argument is what to do with all the […]
see Bradsher Cramdown in Chapter 13 This case is an example of why forensic audits need to go much further than they currently do. Brad Keiser’s Workshop on forensic analysis will focus on the important issues that are usually missed in TILA or other reviews. As the case points out, the usual rule is that […]
the bailout and insurance money was paid not to the investors or the borrowers, it was paid to the investment bankers who never were at risk. I’m beginning to think that the ultra-sophisticated investors have some dog in this race that prevents them from entering the foreclosure market directly to recover or settle their investments […]
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