This is what Mr. Robert E. Bostrom, Executive Vice President, General Counsel & Corporate Secretary of Freddie Mac had to say to the Supreme Court Task Force on Foreclosures. “Recommendation regarding verification of “ownership” of the mortgage” “The Task Force has recommended a requirement for a plaintiff in a foreclosure action to verify that it owns […]

Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, MERS, mortgage meltdown, securitization, trustee
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NOW AVAILABLE ON KINDLE/AMAZON WHY THIS IS IMPORTANT TO FORECLOSURE DEFENSE AND OFFENSE: OK I know the last thing you want to hear is how complex this scheme was. But if you can get over the intimidation factor, you will see how the lawsuits filed by individual homeowners, attorney generals, and class actions are picking […]

Tags: AAA rating, borrower, disclosure, Fitch, foreclosure defense, foreclosure offense, fraud, Lender Liability, McGraw Hill, Moody's, ohio police and fire pension fund, Ohio Public employment retirement System, rating agencies, rescission, SEC, Securities and Exchange Commission, securitization, Standard & Poor's, Trile-A, underwriting standards
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Government officials, perhaps influenced by spending too much time with bankers, forgot that if you want to govern effectively you have retain the trust of the people. And by treating the financial industry — which got us into this mess in the first place — with kid gloves, they have squandered that trust. During the […]

Tags: AIG, bailout, disclosure, Federal reserve, foreclosure defense, foreclosure offense, illusion of financial soundness, Krugman, mortgage meltdown, Ny Times, securitization
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NY JUDGES ROCK — IndyMAc Bank FSB. v Yano-Horosky Indymac Bank F.S.B. v Yano-Horoski 2009 NY Slip Op 52333(U) Decided on November 19, 2009 Supreme Court, Suffolk County Spinner, J. Published by New York State Law Reporting Bureau pursuant to Judiciary Law § 431. This opinion is uncorrected and will not be published in the […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Horoski, INDYMAC, Mortgage, predatory lending, quiet title, securitization, vacating foreclosure sale, Yano
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AVAILABLE ON KINDLE/AMAZON You can use this information by establishing “probable cause” in the mind of the Judge or jury right off the bat — we know they lied to investors, are we now supposed to believe they told the truth to the homeowners? This is the kind of news article buried deep into a […]

Tags: auction rate securities, borrower, credit default swaps, disclosure, foreclosure defense, foreclosure offense, fraud, Investor, mortgage backed securities, securitization, Wells Fargo
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Editor’s Note: In this article you have the nub of the problem for the investors, for the foreclosers, for the pretender lenders. What did the taxpayer actually pay for and what did they get for it? And if the money all went to pay off credit default swaps at 100 cents on the dollar then […]

Tags: AIG, audit, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Geitner, Lender Liability, mortgage meltdown, NY Fed, securitization
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And probably people “of the cloth” from all denominations. We are a nation of faith. Jesus angrily drove the money lenders out of the temple. How can we stand by and allow the borrowers to be driven out of their homes? The fact is most of these victims were hunted down like a foxhunt, with […]

Tags: Apostle Garay, bailout, Bank of America, borrower, countrywide, disclosure, Florida, foreclosure defense, foreclosure offense, Jacobson, mortgage brokers, mortgage meltdown, securitization, subprime loans, The Atlantic
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all we have left is the obligation, unsecured and subject to counterclaims etc. MOST IMPORTANT procedurally, it requires a lawsuit by the would-be forecloser in order to establish the terms of the obligation and the security, if any. This means they must make allegations as to ownership of the receivable and prove it — the […]

Tags: chain of title, disclosure, evidence, foreclosure defense, foreclosure offense, fraud, investors, lenders, MERS, Obligation, securitization, Signatures, trustee
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Dan Edstrom, you are great! OK I found the loan level details for my deal. It shows my loan in foreclosure and my last payment in 6/2008 (which is accurate). What it doesn’t say (among other things) is what advances were made on the account. Very interesting. This report is generated monthly but they are […]

Tags: accounting, disclosure, discovery, Edstrom, foreclosure defense, foreclosure offense, fraud, lost note, Mortgage, quiet title, QWR, TILA audit, trustee
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MANY THANKS TO DAN EDSTROM Dan has put together a list which frankly I would like him to expand. Following the money means determining the party to whom you MIGHT owe money. It certainly isn’t the pretender lender and if you can fill in the blanks on this list you will be able to show […]

Tags: accounting, audit, borrower, disclosure, Eviction, foreclosure, foreclosure defense, foreclosure offense, forensic review, fraud, lender, Lender Liability, mortgage note, securitization, servicer, servicing agent, TILA audit
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