NOW AVAILABLE ON AMAZON KINDLE!! Pursuit vs. UBS Drills Down to Real Benefits to Intermediaries While Real PARTIES — Investors and Homeowners — get the shaft UBS090909 This is a case of an investor suing the underwriter of the mortgage backed bonds purchased as “investment grade securities.” As we have pointed out on these pages […]

Tags: CDO, disclosure, discovery, flow of documents, follow the money, foreclosure defense, foreclosure offense, fraud, homeowner, investment grade securities, Investor, Lender Liability, Morelli, motions to compel, pattern of deception, predatory lending, Pursuit, Pursuit v UBS, securitization, Stamford Court, TILA audit, trustee, UBS
Posted in bubble, Corruption, Eviction, securities fraud |

Editor’s Note: This might not be as far-fetched as you think. Median income is dropping like a rock. Housing prices have historically been closely related to median income. I don’t know about the percentage drop, but another crash in real estate values seems likely. median income is still out of whack with housing prices indicating […]

Tags: appraisals, credit crisis, disclosure, foreclosure defense, foreclosure offense, fraud, housing prices
Posted in bubble, Corruption, Eviction, securities fraud |

Ken McLeod has the figures on this, having done detailed statistical analysis, and capable of testifying as an expert on the usual outcome of these sales. The important point being “why would the “bank” let the property go for 60% of distressed market price — even to an insider?” Answer: because it is all a […]

Tags: bankruptcy, Chapter 13, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, securitization, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

From Steven Kop: Like Florida and other states, the laws already exist to penalize the pretender lenders. The question is whether the public will rise up and force the enforcment of these laws and use them to discredit the worthless paper issued by the participants in the securitization chain. CALIFORNIA CODES PENAL CODE SECTION 470-483.5 […]

Tags: disclosure, foreclosure defense, foreclosure offense, fraud, predatory lending, quiet title, rescission, securitization, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

Readers of Livinglies: Firstly, might I say we were as shocked as anyone to learn of Judge Spinner’s ruling, so eloquently documented in his Jeffersonian-writing style. We appreciate the notes and calls of support, but we are ordinary people whose only wish is to return to a normal life. As the court records indicate, we […]

Tags: disclosure, Eviction, foreclosure defense, foreclosure offense, fraud, mortgage meltdown, predatory lending, securitization, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

You will find similar provisions in virtually every state and without much variation. It is no exaggeration to say that the “enforcement” of invalid mortgages and notes are acts of fraud. By this time there is no possibility of claiming ignorance on the part of anyone who is not in a coma and who is […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, Mortgage, predatory lending, securitization, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

This is what Mr. Robert E. Bostrom, Executive Vice President, General Counsel & Corporate Secretary of Freddie Mac had to say to the Supreme Court Task Force on Foreclosures. “Recommendation regarding verification of “ownership” of the mortgage” “The Task Force has recommended a requirement for a plaintiff in a foreclosure action to verify that it owns […]

Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, MERS, mortgage meltdown, securitization, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

NOW AVAILABLE ON KINDLE/AMAZON WHY THIS IS IMPORTANT TO FORECLOSURE DEFENSE AND OFFENSE: OK I know the last thing you want to hear is how complex this scheme was. But if you can get over the intimidation factor, you will see how the lawsuits filed by individual homeowners, attorney generals, and class actions are picking […]

Tags: AAA rating, borrower, disclosure, Fitch, foreclosure defense, foreclosure offense, fraud, Lender Liability, McGraw Hill, Moody's, ohio police and fire pension fund, Ohio Public employment retirement System, rating agencies, rescission, SEC, Securities and Exchange Commission, securitization, Standard & Poor's, Trile-A, underwriting standards
Posted in bubble, Corruption, Eviction, securities fraud |

NY JUDGES ROCK — IndyMAc Bank FSB. v Yano-Horosky Indymac Bank F.S.B. v Yano-Horoski 2009 NY Slip Op 52333(U) Decided on November 19, 2009 Supreme Court, Suffolk County Spinner, J. Published by New York State Law Reporting Bureau pursuant to Judiciary Law § 431. This opinion is uncorrected and will not be published in the […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Horoski, INDYMAC, Mortgage, predatory lending, quiet title, securitization, vacating foreclosure sale, Yano
Posted in bubble, Corruption, Eviction, securities fraud |

AVAILABLE ON KINDLE/AMAZON You can use this information by establishing “probable cause” in the mind of the Judge or jury right off the bat — we know they lied to investors, are we now supposed to believe they told the truth to the homeowners? This is the kind of news article buried deep into a […]

Tags: auction rate securities, borrower, credit default swaps, disclosure, foreclosure defense, foreclosure offense, fraud, Investor, mortgage backed securities, securitization, Wells Fargo
Posted in bubble, Corruption, Eviction, securities fraud |