see comp-pr2010-59 SEC Complaint V GS Fraud “The Commission seeks injunctive relief, disgorgement of profits, prejudgment interest and civil penalties from both defendants.” Editor’s Note: Here is where the rubber meets the road. This same pool of illegal fraudulent profit is also subject to being defined as an undisclosed yield spread premium due to the […]

Tags: 10b-5, 15 U.S.C. §77q(a), 15 U.S.C. §78j(b) and Exchange Act Rule 10b-5, 17 C.F.R. §240.10b-5, ABACUS 2007-AC1, ACA, ACA Management LLC ("ACA"), CDO, discovery, Exchange Act Rule 10b-5, Fabrice Tourre, flip book, fraud, Goldman Sachs, HERS, investment banks, marketing material, material misstatements and omissions, offering memorandum, Paulson & Co. Inc. ("Paulson"), portfolio, resecuritized CDO market, residential mortgage-backed securities ("RMBS"), RMBS, SEC, Section 10(b) of the Securities Exchange Act of 1934, Section 17(a) of the Securities Act of 1933, subprime, term sheet, Tourre
Posted in Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

See the thing about the arrogance of these non-bank and bank financial institutions is they are rushing to get under the wire before the truth is revealed: they are not the creditor and they never were. Send your debt validation letters and don’t let them sue without filing a motion to dismiss the same as […]

Tags: bailout, credit cards, disclosure, Federal reserve, fraud, Lender Liability, mortgage meltdown, pretender lender, securitization
Posted in bubble, Corruption, securities fraud |

Submitted by Charles Cox, apparently from public domain Article by Christopher Story to be published by Economic Intelligence Review conflict of interest inherent in the sponsor also serving as the servicer constitutes fraud and conversion. In the fourth place, in all ‘true-sale’, ‘disguised loan’ and ‘assignment’ securitisations where the Special Purpose Vehicle [SPV] is a […]

Tags: assignment, Charles Cox, Christopher Story, conversion, disguised loan, Economic Intelligence Review, fraud, RICO, Securitisation, securitization, tax evasion, true sale, usury
Posted in bubble, Corruption, Eviction, securities fraud |

Your case should first be summarized by your securitization expert who relies upon the expert opinions of others as to underwriting, appraisal, mortgage brokers etc. Then those other experts come in. After that, the forensic analyst and homeowner come in to fill in the facts upon which the experts relied. But you build your case […]

Tags: agent, allonge, bank of new york, BEAR STEARNS, Bear Stearns Asset Backed Certificates Series 2003-2, cross examination, custodian, cut-off date, EMC, endorsement, expert, forensic report, Form 8-K, fraud, Greenville, JP Morgan, JP Morgan Chase, MERS, MIN, MOM, opinions, Pool field, RBMG, securitized transactions, title policy, Wells Fargo Bank
Posted in bubble, Corruption, Eviction, securities fraud |

 “Without your blog I would not have found the right lawyer in my state.”                                                                                                                              – Meghan in RI “Some of the most rewarding work of my career.”                                                                                                                   – Chris Brown Esq. While we understand the many reasons borrowers pursue their cause on a ProSe or ProPer basis,  it has been our position since the […]

Tags: audit, bailout, bankruptcy, borrower, Chapter 13, countrywide, credit crisis, creditor, depression, disclosure, discovery, Eviction, Florida, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, housing, lawyers, lender, Lender Liability, mortgage meltdown, rescission, RESPA, securitization, TILA audit, trustee, Wells Fargo
Posted in Corruption, Modification, Servicer |

“That’s right. Issuers are essentially paying twice for flawed deals that bestowed great riches on the bankers and advisers who sold them. Taxpayers should be outraged, but to be angry you have to be informed — and few taxpayers may even know that the complicated arrangements exist.” Editor’s Note: At some point, it will become […]

Tags: apraisal, credit default swaps, fiduciary duty, fraud, Gretchen Morgenstern, insurance, investment bankers, Jefferson County, local government, Ny Times, property, title
Posted in bubble, Corruption, Eviction, securities fraud |

Lawsuits like this one have been on the rise as ever more mortgages default. It is no secret that the housing market boom fostered poorly underwritten mortgages, in which it was common that a borrower’s income was inflated or never documented. Insurers are denying the claims on many loans, asserting they are not liable to […]

Tags: Bank of America, countrywide, fraud, insurance, insurance claims, loans, MGIC Investment Corp., mortgage insurance, mortgage underwriting, New York, Old Republic International Corp., rescission, Sara Lepro, Supreme Court, TILA
Posted in bubble, Corruption, Eviction, securities fraud |

“Many economists and mortgage experts have concluded that banks must ultimately forgive loan balances to restore equity to underwater borrowers. Otherwise, growing numbers will walk away from their homes and accept foreclosure rather than make payments on properties in which they no longer own a stake.” Editor’s Comments and Notes: The Obama Administration has finally […]

Tags: bailout, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, mortgage meltdown, predatory lending, principal reduction, quiet title, securitization
Posted in bubble, Corruption, Eviction |

see bully-bonus-11-7-billion-jpm If they earned it, what business is it of ours or the government? On the other hand, if they stole it, why are they not in jail? If there is money for bonuses it is because of illusory (fake) profits from an illegal scheme that I would call fraudulent. If that is profit […]

Tags: bonuses, constructive trust, excessive risk, fraud, homeowners, investors, risk, TARP, taxpayers
Posted in bubble, Corruption, Eviction, securities fraud |

Thanks to Gator Bradshaw Editor’s Comment: Like I said, the investors and the homeowners have a lot of interests in common. When they finally get together and compare notes, they find a giant donut hole where assets or money were supposed to be. The amount of theft or undisclosed fees and profits staggers the imagination. […]

Tags: CalPERS, conflict of itnerest, Donald Bradshaw, fiduciary, fraud, lawsuits against servicers, pooling and service agreement, PSA, securitization, servicers, syndicate, toxic mortgages
Posted in bubble, Corruption, Eviction, securities fraud |