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 |

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 |

BofA’s Countrywide loses court ruling on mortgages — Modifications Not Authorized By Investor May be Invalid There is lots of significance about this decision. First it shows that if the investor is going to sue it is going to be against the intermediary pretender lenders and not the borrower — because they don’t want to […]

Tags: borrower, countrywide, Eviction, foreclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in bubble, Eviction |

From Kevin A McKenna. A very good explanation about MERS and nominees. Note especially the reference to creating two entities to exercise collection and foreclosure instead of one thus reinforcing the argument of financial double jeopardy. The MERS deed would therefore be void, as he says. Thus there would be no security, probably no note […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lenders, lost note, Mortgage, mortgage meltdown, quiet title, securitization, trustee
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See Asset Securitization Comptroller’s Handbook The basic model we have developed tracks the money and with that, the intent behind seemingly irrational decisions. For example, why would any lender seeking to make a profit grant a loan whose interest payments were greater than the gross income of the borrower? That is not taking a risk. […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, securitization
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By Brad Keiser For those of you who have been to our seminars, (coming to Southern California next month) You have heard me ask about Hank Paulson and Ben Bernanke…”Are they stupid or were they lying when they said everything was OK through out all of 2007 and most of 2008?” You have seen and heard why Neil and I declare […]

Tags: bailout, borrower, borrowers, brad keiser, Chapter 13, countrywide, credit, credit crisis, depression, disclosure, Federal reserve, foreclosure, foreclosure defense, foreclosure offense, foreclosures, lawyers, lender, Mortgage, mortgage meltdown, Paulson, predatory lending, quiet title, rescission, RESPA, securitization, TILA, TILA audit, TILA rescission, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

It’s not just that servicers get more money by pushing the loan further and further into distress. They certainly have that incentive. When the loan becomes “delinquent”, they get more money, when the loan goes into “default”, they get more money, and when the loan goes into “foreclosure”, they get more money. So of course […]

Tags: borrower, countrywide, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, LOAN MODIFICATION, mortgage meltdown, rescission, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

Doesn’t it bother you that you pay your taxes for doing business in the state of Arizona or whatever state you hail from, but the Wall Street players made trillions of dollars in trading securities based solely (deriving value from)upon interests in real property situated within the boundaries of your state and never reported any […]

Tags: bankruptcy, borrower, disclosure, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization, trustee
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Pretender lenders and lawyers for pretender lenders should take warning. The operation described in this article is virtually identical to the operation used by pretender lenders. See also LENDER LIABILITY pdf July 23, 2009 N.Y. Claims Collectors of Debt Used Fraud By JONATHAN D. GLATER Tens of thousands of New York consumers had money seized […]

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

“The people running this system remind me of gangsters who manage to walk out of the courthouse with a suspended sentence and can’t wait to get back to their nefarious activities.” “Today’s business model is about making money through tricks and traps.” –Elizabeth Warren Chairman of Oversight Committee There is nothing free or fair about […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, RESPA, RICO, securitization
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