SERVICES YOU NEED “As basis for the legal case, WaMu had submitted an assignment of mortgage, which however the court just found never actually belonged to WaMu, and instead was carried on the books of Fannie Mae.” EDITOR’S NOTE: It’s an old story to us but it’s news to everyone else. Yes it IS fraud, […]

Tags: affidavits, Chase, Duval, Fannie MAe, Florida, FNMA, fraud, fraud on the court, GMAC, HOLDER, JP Morgan, owner of record, real party, servicer, standing, Wells Fargo
Posted in bubble, Corruption, Eviction, securities fraud |

SERVICES YOU NEED From testimony in a Chase case, same as dozens of others I have seen —- Q. So if you didn’t review any books, records, and documents or computerized records, how is it that you had personal knowledge of all the matters contained therein? A. Well, I have personal knowledge that my staff […]

Tags: affidavits, Ally, damages, foreclosures, fraud, GMAC, personal knowledge, slander of title
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

EDITOR’s comment: Everyone seems to agree that nobody really knows the identity of the creditor in the millions of mortgage transactions that were created from 2001 to 2008. Yet the general consensus from the administration and the media is that these transactions should be enforced anyway. The idea of enforcing a transaction in which only […]

Tags: borrower, bull market, congress, creditor, David Streitfeld, fraud, fraudulent appraisals, fraudulent loan transactions, housing market, identity of the creditor, Investor, Ny Times, Obama, speculators, Wall Street
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

Good Stuff —- Now we are working on a script. Comments invited including edits. Let’s get on the same page do what the pretender lenders are doing. We should have a common message that all the Judges hear from all the lawyers. HOW TO ARGUE FLORIDA ASSIGNMENT FRAUD TO JUDGES http://www.amartinezlaw.com In accordance with the […]

Tags: assignment, Florida, fraud
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud, Servicer |

A YIELD SPREAD PREMIUM IS A FEE PAID TO A BROKER FOR CREATING A FRAUDULENT PROFIT BY LYING TO THE CUSTOMER WHO BUYS A FINANCIAL PRODUCT. This particular lie would be about the rate on the loan. One would think this was already illegal and one would be right. Not only is it specified in […]

Tags: David Streitfeld, fraud, RICO, TILA, yield spread premium, YSP
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

SHELL GAME CONTINUES. WHO HAS THE BOND? WHO HAS THE RECEIVABLE? WHO HAS THE SECURITY INTEREST? WHO IS GETTING PAID? WHERE ARE THE MONTHLY PAYMENTS GOING? FANNIE MAE AND FREDDIE MAC ARE BIG PLAYERS, AS IS THE FEDERAL RESERVE. ARE THEY THE ONES REALLY FORECLOSING UNDER COVER OF SECURITIZATION? EDITOR’S NOTE: Another entry under the […]

Tags: borrower, disclosure, discovery, foreclosure, foreclosure defense, fraud, HERS, Lender Liability, Mortgage, predatory lending, rescission, securitization
Posted in bubble, Corruption, evidence, expert witness, foreclosure mill, securities fraud, Servicer |

12debt.html?_r=1&ref=business EDITOR’S NOTE: It is ironic how reality eventually catches up with illusion. While we have been pounding on the issue of principal reduction as the only realistic way out of the recession, and while the financial industry has been busy convincing people that principal reduction is somehow immoral, the contraction of home prices back […]

Tags: appraisals, David Streitfeld, fraud, home equity, Mortgage, predatory
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud |

Our good friend “Anonymous” has piped up with more vital information and expressed it more succinctly than I did. “The senior tranches have largely already been paid and closed. Since the junior tranches are paid only if there is left over current payment – after the senior tranches have been paid. Thus, junior tranches are […]

Tags: creditor, fraud, mediation, REAL PARTY IN INTEREST
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

July 16, 2010 A.I.G. to Pay $725 Million in Ohio Case By MICHAEL POWELL and MARY WILLIAMS WALSH The American International Group, once the nation’s largest insurance group before it nearly collapsed in 2008, has agreed to pay $725 million to three Ohio pension funds to settle six-year-old claims of accounting fraud, stock manipulation and […]

Tags: A.I.G., accounting fraud, American International Group, Andrew M. Cuomo, Bid Rigging, Eliot L. Spitzer, Federal reserve Bank of New York, fraud, HERS, MARY WILLIAMS WALSH, Maurice R. Greenberg, MICHAEL POWELL, Ohio pension, Richard Cordray, Securities and Exchange Commission, stock manipulation
Posted in bubble, Corruption, evidence, expert witness, Pleading |

I like this post from a reader in Colorado. Besides knowing what he is talking about, he raises some good issues. For example the original issue discount. Normally it is the fee for the underwriter. But this is a cover for a fee on steroids. They took money from the investor and then “bought” (without […]

Tags: accounting, ACTUAL RECEIVABLE, CREDIT EVENT, foreclosure, FORM 938, fraud, HERS, IRS, NOMINAL RECEIVABLE, ORIGINAL ISSUE DISCOUNT, REMIC, SERVICER FEE, taxes, Underwriter, WAMU, yield spread premium
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud, Servicer |