Reported figures on the financial statements of the “13 banks” that Simon Johnson talks about, make it clear that around 96% of all loans originated between 1999 and 2009 are subject to claims of securitization because that is what the investment banks told the investors who advanced money for the purchase of what turned out […]

Tags: ABN AMRO, Access Mortgage, Citi, Citimortgage, CPCA Trust 1, docket, Fannie, First National, Freddie, Ginny, IRS AMNESTY, LaSalle bank, MERS, note holder, REMIC, securitization, VA
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

Probably the most misunderstood aspect of the securitization process is that the banks are able to claim there was no securitization when in fact there was. This is especially true in GSE’s like Fannie, Freddie, Ginny and the VA. When you are researching loans you hit a brick wall when you get to the GSE. […]

Tags: Fannie, Ginny, government guaranteed mortgage loans, GSE, ownership of the loan, securitization, VA Loans
Posted in Corruption, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

You read the news on one settlement after another, it sounds like the pound of flesh is being exacted from the culprits again and again. This time the FHFA, as owner of Fannie and Freddie, is going for a settlement with Bank of America for sale of “faulty mortgage bonds.” And most people sit back […]

Tags: Bank balance sheet, Bank of America, defective mortgage bonds, defective mortgages, Fannie, faulty mortgage bonds, faulty mortgages, FHFA, foreclosure defense, Freddie, loan closings, loan origination, mortgage bonds, sale of loans, underwriting mortgage bonds
Posted in Corruption, evidence, expert witness, Modification, Motions, Pleading, securities fraud, Servicer |

Three cheers for Chris Hayes on MSNBC. In his new show, ALL IN, last night he reported and editorialized on the mistakes of giving banks relief and “screwing” homeowners since 2008. On his show he had Elliot Spitzer who took the administration to task for not doing something before this time. And to top it […]

Tags: CBO, Chris Hayes, Congressional Budget Office, DeMarco, Fannie, Freddie, Obama, principal correction, principal reduction
Posted in Corruption, Eviction, evidence, Modification, Servicer |

CHECK OUT OUR EXTENDED DECEMBER SPECIAL! What’s the Next Step? Consult with Neil Garfield For assistance with presenting a case for wrongful foreclosure, please call 520-405-1688, customer service, who will put you in touch with an attorney in the states of Florida, Tennessee, Georgia, California, Ohio, and Nevada. (NOTE: Chapter 11 may be easier than […]

Tags: Abacus, Fannie, fraud, Freddie, Investigation, Naked Capitalism, Ponzi scheme, PROOF, prosecution, yves Smith
Posted in bubble, Corruption, Eviction, securities fraud |

What’s the Next Step? Consult with Neil Garfield For assistance with presenting a case for wrongful foreclosure, please call 520-405-1688, customer service, who will put you in touch with an attorney in the states of Florida, California, Ohio, and Nevada. (NOTE: Chapter 11 may be easier than you think). CHECK OUT OUR NOVEMBER SPECIAL Administrative […]

Tags: administrative process, Denise Cote, Deutsch, Fannie, Federal Housing Finance Agency, FHFA, fraud, Freddie, Goldman, JPMorgan, REMIC
Posted in bubble, Corruption, Eviction, securities fraud |

Since the Fed can create unlimited money, why not pay off every mortgage in the land? That’s only $9.7 trillion, and if the Fed wanted to unleash an orgy of spending, that would certainly do it. Trillions in losses would be filled with “free money,” since the Fed would pay the full value of all […]

Tags: central bank, Charles Hugh Smith, Fannie, Federal reserve, FHA, MBS, Of Two Minds, REO
Posted in bubble, Corruption, Eviction, securities fraud |

Wall Street is gearing up to buy properties en masse from Fannie, Freddie and other holders (including the Federal Reserve. The question for these investors is what are they buying and what are they doing? I think these sales represent an attempt to create a filler for an empty hole in the title chain. we […]

Tags: accounting, assignments, emotional distress, Fannie, Federal reserve, Freddie, GSE, money trail, origination, receiver
Posted in bubble, Corruption, Eviction, securities fraud |

Housing Regulator Defies White House Obama’s Next Move Unknown Editor’s Comment and Analysis: It’s unanimous! Except for DeMarco, the housing regulator who won’t let Fannie and Freddie cooperate with principal reductions. Why not? “The Federal Housing Finance Agency’s own analysis has shown that principal reduction could help up to 500,000 homeowners and save taxpayers as […]

Tags: Business News, DeMarco, Ed DeMarco, Ed DeMarco Fhfa, Fannie, Freddie, Housing Geithner, housing regulator, Tim Geithner, Tim Geithner Ed DeMarco, Tim Geithner Fhfa, White House
Posted in bubble, Corruption, Eviction, securities fraud |

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Tags: bailout, beneficiary, credit default swaps, credit enhancements, Fannie, FHA, Freddie, Ginnie, guarantees, ICELAND, insurance, investment banks, lender, mortgagee, Pooling and Servicing Agreement, securitization, StopForeclosureFraud
Posted in bubble, Corruption, Eviction, securities fraud |