The article below by Andrew Rosenfield is an excellent summary of the problems and contradictions facing the Obama administration. But it misses the same point that everyone has failed to ask about. If the intent was to sell the loans to investors and Wall Street took money for that sale, then we must assume that […]

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

Many thanks to Alan Baron who has been staying on top of the research. Rand Corporation v Yer Song Moua: Manisy Moua, John Doe, Mary Roe, United States Court of Appeals Filed March 20, 2009. 8th-cir-tila-rand-march-20-2009 Phoenix, Az March 25, 2009. by Neil Garfield. Despite nearly heroic efforts by the banking industry to avoid an […]

Tags: bailout, borrower, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, RESPA, securitization, TILA audit, trustee
Posted in Eviction, Modification, securities fraud |

The Big Takeover The global economic crisis isn’t about money – it’s about power. How Wall Street insiders are using the bailout to stage a revolution MATT TAIBBI Posted Mar 19, 2009 12:49 PM ADVERTISEMENT It’s over — we’re officially, royally fucked. no empire can survive being rendered a permanent laughingstock, which is what happened […]

Tags: borrower, disclosure, Federal reserve, foreclosure defense, fraud, Lender Liability, lost note, mortgage meltdown, Paulson, predatory lending, rescission, securitization, TILA audit
Posted in Eviction, Modification, securities fraud |

The big deal is that it is ONLY the holder in due course who is allowed in court to make claims or enforce any rights regarding the mortgage and note. No servicer (e.g. Countrywide), administrator (e.g. MERS), or trustee has any right to do a judicial or non-judicial foreclosure because they are not the holder […]

Tags: borrower, countrywide, disclosure, Federal reserve, foreclosure defense, foreclosure offense, Lender Liability, lenders, mortgage meltdown, predatory lending, quiet title, rescission, RESPA, securitization, TILA, trustee
Posted in Uncategorized |

it follows that the investors are the ONLY parties with standing to make any claim on the mortgage, note or obligation. But they won’t make that claim because of the exposure to risk that could leave them with even more loss than the current loss on their investment. This leaves trillions of dollars in unclaimed […]

Tags: bailout, borrower, countrywide, disclosure, Federal reserve, foreclosure, foreclosure defense, foreclosure offense, fraud, mortgage meltdown, rescission, securitization, TILA audit, trustee
Posted in Corruption, Eviction, Modification, securities fraud |

We are receiving numerous reports of “vulture” investors picking up MBS securities and where possible buying actual pools of mortgages for 8-10 cents on the dollar. The basic assumptions are two: (a) the securities and the mortgages, notes and obligations are worthless and (b) the government guarantees and willingness of borrowers to “modify” will result […]

Tags: bailout, borrower, Federal reserve, foreclosure defense, foreclosure offense, lenders, mortgage meltdown, predatory lending, rescission, securitization
Posted in Corruption, Eviction, Modification, securities fraud |

Obama on who owns the mortgage: Watch Marcy Kaptur D- Ohio on who owns the mortgage: Watch Geithner’s plan of buying up toxic assets assumes there is a value. There isn’t. The paper is all bad from one end to the other. The Certificates of Asset Backed Securities are bad, the mortgages are bad, the […]

Tags: bailout, borrower, disclosure, Eviction, Federal reserve, foreclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, rescission, securitization, TILA audit
Posted in Corruption, Eviction, securities fraud |

Three U.S. Banks Shut by Regulators as Financial Crisis Deepens Email | Print | A A A   By Margaret Chadbourn and Ari Levy Feb. 7 (Bloomberg) — Three banks, two in California and one in Georgia, were seized by regulators, bringing this year’s tally of closings to nine as a recession and record foreclosures […]

Tags: bailout, disclosure, Eviction, Federal reserve, foreclosure, foreclosure defense, foreclosure offense, Lender Liability, lost note, mortgage meltdown, quiet title, rescission
Posted in Corruption, Modification, securities fraud |

The only thing necessary for evil to triumph is for good men to do nothing -Edmund Burke Release Date: February 2, 2009 Contact: Ofc. John Roach, 313-224-0615 Evans halts sale of foreclosed homes o Sheriff says move is necessary to ensure homeowners´ rights o Federal bailout act protections preempt State foreclosure law, Evans says DETROIT, Michigan […]

Tags: bailout, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, rescission, trustee
Posted in bubble, Eviction, Modification, securities fraud |

NY Times second lead article is how are these “Troubled Assets” going to be valued? 97 cents on the dollar (management), 87 cents (S&P at current default rates), 53 cents under “bleaker” (undefined conditions), 38 cents where the trading markets value them, or 0 cents on the “Garfield Continuum Index.” ? why the disparity? What […]

Tags: audit, bailout, borrower, disclosure, Eviction, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, securitization, trustee
Posted in Corruption, Eviction, securities fraud |