And THAT is why you are entitled to compel discovery, compel answers to your QWR, DVL and other requests. If the losses were not real, if the pools were marked down solely on the say-so of the financial institutions that created them, if the default rate was really much lower than the declared defaults, if […]

Tags: accounting, Alistair Barr, AMbac, default, HERS, illusory losses, John Spence, MarketWatch, mortgage backed securities, pretender lenders, price-earnings ratio, principal reduction, sham financial transactions, third party payments
Posted in Corruption, Eviction, securities fraud |

Editor’s Note: The significance of this announcement is that the bondholders, who were insured directly by AMBAC (as opposed to the investment bankers who bought “bets” like credit default swaps) are receiving 25 cents on every dollar they funded as creditors for the funding of loan to homeowners (debtors/ borrowers). This supports and corroborates two […]

Tags: Ambac Financial Group Inc., Andrew Frye, appraisal fraud, Bloomberg, bondholders, credit default swaps, creditors, damages, debtors, default, discovery, foreclosure defense, forensic analysis, full accounting, HERS, insurance, Insurance Commissioner, Jody Shenn, Obligation, payment, principal reduction, Sean Dilweg, securitized residential mortgage
Posted in bubble, Corruption, Eviction, securities fraud |

SEE ALSO BOE PAPER ON ABS DISCLOSURE condocmar10 If the Bank of England wants this information, how can this court deem it irrelevant? NOTE: BOE defines investors as note-holders. information on the remaining life, balance and prepayments on a loan; data on the current valuation and loan-to-value ratios on underlying property and collateral; and interest […]

Tags: ABS Disclosure, arrangement, asymmetry of information, balance, Bank of England, bankruptcy, BEAR STEARNS, cash-flow waterfalls, countrywide, Credit Suisse, current rate, current valuation, David J. Grais, default, delinquent, descriptions, Deutsch Bank, diagrams, discovery, event, Federal Home Loan Bank of San Francisco, foreclosure, fraudulent activity, Grais and Ellsworth, Gretchen Morgenstern, interest rate, levels, LITIGATION, loan-to-value ratio, loss on sale, Merrill Lynch, Moral Hazard, mortgage backed bonds, mortgage backed securities, New York Times, noteholders, performing, portfolio, prepayments, profit on sale, qualified written request, remaining life, RMBS, sale price, subportfolio, total recoveries, triggers, value of payments in arrears
Posted in bubble, Corruption, Eviction, expert witness, Modification, securities fraud, Servicer |

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 […]

Tags: accounting, CDS, credit default swaps, creditor, DEBTOR, default, delinquency, downgrade, excess proceeds, loss reserves, non-payment, payment, pretender lender, TILA
Posted in bubble, Corruption, Eviction, securities fraud |

“The problem is not that the mortgages are in default. The problem is that the investment banks are in default of their obligations to investors and homeowners. Until Government and the Courts realize this simple fact, they will never untangle the debris caused by the illusion of a crash. If that day ever comes, more […]

Tags: AIG, AMbac, CDO, default, delinquency, FGIC, Goldmn Sachs, Janet tavakoli, John Paulson, Paykin Krieg and Adams LLP, Thomas Adams
Posted in bubble, Corruption, Eviction, securities fraud |

“The note is often produced at some point in the litigation, but the real problem is, how did they get it? When did they get it? And did the transfer of ownership comport with federal and Florida law for the transfer of such negotiable instruments?” In cases that are dismissed based on these arguments, foreclosure […]

Tags: April Charney, default, Florida, foreclosure defense, foreclosure offense, Jacksonville Business Journal, Jose Semedey, Kimberly Morrison, negotiable instrument, pretender lender, produce the note, quiet title, real lender, securitization, transfer of ownership
Posted in bubble, Corruption, Eviction, securities fraud |

IN THE CIRCUIT COURT OF THE SEVENTEENTH JUDICIAL CIRCUIT IN AND FOR BROWARD COUNTY, FLORIDA, DEUTSCHE  BANK     NATIONAL TRUST COMPANY , AS TRUSTEE Plaintiff, Case No.: vs.                                DIVISION: 02 . xxxxxxxxCITIBANK, FSB, UNKNOWN TENANT(S) IN POSSESSION #1 AND #2 et al Defendants. ____________________________________/ DEFENDANT’S EMERGENCY MOTION TO VACATE […]

Tags: default, foreclosure defense, motions, summary judgment, vacate judgment
Posted in bubble, Eviction |

You could be up to date in all your payments. Your billing proves it. And yet, the person (Mr. Investor) who loaned you the money for your mortgage is not getting the payments. This person steps forward and says you owe all the payments from the date of the loan, including interest, late payments, late […]

Tags: AMbac, default, errors and omissions insurance, foreclosure offense, holder in due course, reserve pool, trustee deed
Posted in Eviction |

debt Funds owed by a debtor to a creditor. Outstanding debt obligations are assets for creditors and liabilities for debtors. May or may not be covered by written agreements. See Asset Backed Security. The significance of the definition of a debt, being an asset on one balance sheet and a liability on another, is that […]

Tags: assignment, balance sheet, borrower, debt, default, enforcement, foreclosure defense, foreclosure offense, lender
Posted in Eviction |

Start with GARFIELD’S GLOSSARY ABOVE: HERE IS ARE SOME OF THE RECENT ADDITIONS TO THE GLOSSARY AND TACTICAL CONSIDERATIONS: Deed of Trust An instrument signed by a borrower, lender and trustee that conveys the legal title to real property as security for the repayment of a loan. The written instrument in place of mortgage in […]

Tags: ABS, DEED OF TRUST, default, due process, foreclosure, legal standing, lender, NON-JUDICIAL SALE, original note, REAL PARTY IN INTEREST, trustee
Posted in bubble, Corruption, Eviction, securities fraud |