The REMICS are mirror images of the NINJA loans — no income, no assets, no job the borrower did not realize that the false appraisal and other deficiencies in underwriting had shifted the risk of loss to the homeowner and the investors Editor’s Notes: Our economy and the economic structure in other countries is stuck […]

Tags: appraisal fraud, common law fraud, compensatory damages, deceptive lending, exemplary damages, Federal reserve, NINJA, Ponzi scheme, punitive damages, REMIC, RICO Fraud, risk of loss, TILA, treble damages, underwriting committee, underwriting standards, wrongful foreclosure, wrongful lending
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 |

STANDARD CHARTERED accused of conducting secret money laundering transactions with Iran. “Mr Lawsky has accused the bank, which employs nearly 90,000 people worldwide, of breaking money-laundering rules and processing $250bn of transactions on behalf of Iranian clients. The regulator has given the bank until next week to “demonstrate why [the bank’s] license to operate in […]

Tags: Benjamin Lawsky, Federal reserve, Iran, Money Laundering, New York State Department of Financial Services, standard chartered, terrorists
Posted in bubble, Corruption, Eviction, securities fraud |

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Tags: county recorder, David J Stern, Fannie MAe, Federal reserve, Florida, foreclosure fraud, Freddie Mac, GSEs, HousingWire, Jon Prior, Lender Processing Services, Lisa Epstein, Michigan, Mortgage Electronic registration Systems, Office of the Comptroller, Palm Beach County, securitization scam, Sharon Bock
Posted in bubble, Corruption, Eviction, securities fraud |

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Tags: Ace Securities Home Equity Loan Trust, AIG, Arizona Department of HOusing, bankruptcy, credit default swaps, DEUTSCHE BANK, Fannie, Federal reserve, Find the Fraud, forced placed insurance, Freddie, HAMP, homeowners, investment banks, investors, Judge Williams, Master Servicer, MBIA, MERS, Michael Olenick, Michael Trailor, Naked Capitalism, Ocwen, pension fund, Ponzi scheme, REMIC, servicers, State Agencies, subservicer, Tim Geithner
Posted in bubble, Corruption, Eviction, securities fraud |

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Tags: Ace Securities Home Equity Loan Trust, AIG, Arizona Department of HOusing, bankruptcy, credit default swaps, DEUTSCHE BANK, Fannie, Federal reserve, Find the Fraud, forced placed insurance, Freddie, HAMP, homeowners, horne, investment banks, investors, Judge Williams, Master Servicer, MBIA, MERS, Michael Olenick, Michael Trailor, Naked Capitalism, Ocwen, pension fund, Ponzi scheme, REMIC, servicers, State Agencies, subservicer, Tim Geithner
Posted in bubble, Corruption, Eviction, securities fraud |

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Tags: Ace Securities Home Equity Loan Trust, AIG, Arizona Department of HOusing, bankruptcy, credit default swaps, DEUTSCHE BANK, Fannie, Federal reserve, Find the Fraud, forced placed insurance, Freddie, HAMP, homeowners, investment banks, investors, Judge Williams, Master Servicer, MBIA, MERS, Michael Olenick, Michael Trailor, Naked Capitalism, Ocwen, pension fund, Ponzi scheme, REMIC, servicers, State Agencies, subservicer, Tim Geithner
Posted in bubble, Corruption, Eviction, securities fraud |

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Tags: Ace Securities Home Equity Loan Trust, AIG, bankruptcy, credit default swaps, DEUTSCHE BANK, Fannie, Federal reserve, FHFA, Find the Fraud, Finra, forced placed insurance, Freddie, HAMP, homeowners, insurance, investment banks, investors, Judge Williams, Master Servicer, MBIA, MERS, Michael Olenick, Naked Capitalism, Ocwen, pension fund, Ponzi scheme, REMIC, servicers, subservicer, Tim Geithner
Posted in bubble, Corruption, Eviction, securities fraud |

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Tags: BLOOMBERG NEWS, borrower, Case/Schiller index, consumer debt, debt bürden, Eviction, Federal reserve, financial sector, foreclosure, foreclosure defense, foreclosure fraud, foreclosure offense, foreclosures, forgery, fraud, Gdp, housing market, housing prices, investment bankers, investment capital, Lender Liability, Mortgage, mortgage meltdown, mortgage rates, predatory lending, TBTF, tier 2 yield spread premium
Posted in Uncategorized |