Here it is. On August 28, 2009 the Supreme Court of the State of Kansas rendered an opinion based calmly on existing law and relentlessly applying it to the chagrin of all participants in the securitization scheme. This decision is being examined, cited, analyzed and applied all over the country. MERS was the appellant seeking […]

Tags: bankruptcy, borrower, disclosure, foreclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lenders, Mortgage, predatory lending, quiet title, rescission, RESPA, RICO, securitization, trustee
Posted in bubble, Eviction |

Matt Taibbi in Huffington Post: Waking up to discover the mortgage market was a giant criminal enterprise A landmark ruling in a recent Kansas Supreme Court case may have given millions of distressed homeowners the legal wedge they need to avoid foreclosure. In Landmark National Bank v. Kesler, 2009 Kan. LEXIS 834, the Kansas Supreme […]

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

In November of 2008, AIG answered a request from the SEC that requird them to explain the inner workings of Credit Default Swaps. While they appear to have finessed certain issues, this is the clearest glimpse of how it worked. There are several classes of transactions but each of them involves some “delivery” of the […]

Tags: bailout, bankruptcy, borrower, credit, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lenders, securitization, trustee
Posted in Eviction |

The Reno Class Action attorneys and others, including Elizabeth Warren, Chairwomen of the Congressional Oversight Committee, want to know where this money went, whether it satisfied obligations, and whether the obligations satisfied inure to the benefit of homeowners who purchased loan products from a Ponzi securitization scheme or otherwise. $13 trillion in mortgages were issued […]

Tags: bailout, borrower, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, predatory lending, rescission, RESPA, RICO, securitization, TILA, trustee
Posted in bubble, Eviction |

People have been asking about class actions. With a little bit of help at www.classadvocate.com I have come up with the following list. The one to watch is in Reno Nevada filed by Hager and Hearne. It covers Arizona, Nevada, and California. It has not been certified yet as a class action. I am involved […]

Tags: borrower, brad keiser, countrywide, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, predatory lending, rescission, RESPA, securitization, trustee, Wells Fargo
Posted in bubble, Eviction |

1st Annotation of Landmark v. Kesler: IN THE SUPREME COURT OF THE STATE OF KANSAS No. 98,489 LANDMARK NATIONAL BANK, Plaintiff/Appellee, v. BOYD A. KESLER
Appellee/Cross-appellant
MILLENNIA MORTGAGE CORPORATION,
Defendant,
(MORTGAGE ELECTRONIC REGISTRATION
SYSTEMS, INC. AND SOVEREIGN BANK),
Appellants/Cross-appellees,
and
DENNIS BRISTOW AND TONY WOYDZIAK,
Intervenors/Appellees. filed August 28, 2009 “The second mortgage lies at the core of this appeal. That mortgage document stated […]

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

Aoude v. Mobil Oil Corp., 892 F.2d 1115, 15 Fed. R. Serv. 3d 482 (1st Cir. 1989) (“Because corrupt intent knows no stylistic boundaries, fraud on the court can take many forms.”) People are always asking how they go about getting their house back or how they stop a sale that is in process. One […]

Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, Mortgage, rescission, securitization, trustee
Posted in bubble, Eviction |

Here is PART of the next wave of “defaults” that will ruin lives and fill the pockets of the Wall Street bankers and intermediaries who are now “servicing” and foreclosing on loans that have already earned extremely high profits, far exceeding the funded amount of the loan. My opinion is that there will be three […]

Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, predatory lending, rescission, securitization, trustee, Wells Fargo
Posted in bubble, Eviction |

Makes for very good reading. Shows that the advent of low-doc and non-doc loans were, as epected, sure to result in higher delinquencies. As we have pointed out before here, that was the point — to get loans that were sure to go into default. That was the only way they collect the “insurance” (credit […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization, TILA audit
Posted in bubble, Corruption, Eviction, securities fraud |

Editor’s Note: Here is another sore point in the mortgage meltdown: Developers were in on it up to their necks. One of the ways the appraisals were skewed was to use the developer’s asking price, which at times was rising by as much as 10% per month, giving the appearance of a rapidly advancing market. […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, predatory lending, rescission, RICO, securitization
Posted in bubble, Eviction |