Maher Soliman and Steve Kop have hit the nail on the head. The only grey area that needs to be explored is the same cinfused mess that started this. The SPE is a conduit by definitition. It is a REMIC. That means it does NOT own the mortgages and notes and it does not own […]

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

Maher Soliman suggested that we consider throwing the SPV Trusts into receivership. Here was my response: MSOLIMan: Forcing the trust into receivership might be a good idea — or even forcing into involuntary bankruptcy. But be careful here. While the Trustee maintains that a trust exists and that the trustee has powers over the subject […]

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

GRETCHEN MORGENSON of the New York Times Keeps Getting It Better and Better. In Today’s article she demonstrates tenacity, insight and combines it with her excellent writing skills. Send her some fan mail. What follows is one of my annotations on one of the many books, treatises and articles that I am constantly reading on […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, JP Morgan, Lehman, Lender Liability, lost note, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in bubble, Eviction |

The reason why the figure is so low is exactly why we have been saying that the Wall Street pretenders have no right to foreclose. They never owned the mortgage backed securities because they sold them “forward.” That’s a fancy way of saying they sold the securities before they existed. They were a figment of […]

Tags: bailout, borrowers, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, rescission, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

Pretender Lenders — read and weep. Game Over. Over the next 6-12 months the entire foreclosure mess is going to be turned on its head as it becomes apparent to even the most skeptical that the mortgage mess is just that —  a mess. From the time the deed was recorded to the time the […]

Tags: bankruptcy, borrower, credit, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lenders, lost note, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in bubble, Corruption, Eviction, Modification, securities fraud, Servicer |

When U.S. Bank comes in as Trustee for the the holders of series xyz etc., the use of the words Trustee and series certificates give it an air of legitimacy. But this is probably just another bluff. Reading the indenture on the bond (mortgage backed security) and the prospectus, you will see that the “Trust” […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, predatory lending, REMIC, rescission, RICO, securitization, taxation, trustee
Posted in bubble, Corruption, Eviction, Modification, securities fraud, Servicer |

June 24, 2009 Editorial Real Consumer Protection The federal consumer protection system failed the country, disastrously, in the years leading up to the mortgage crisis. One big cause was the sharing of responsibility for compliance with laws and regulations among several agencies that communicate poorly with each other and tend to put the bankers’ interests […]

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

And when that rakes hits them in the head, it will hopefully start a domino effect with the rest of the pretender lenders. OH Sup Ct – Wells Fargo Appeal WF has decided to go for the brass ring by bringing an appeal from a case they lost. What they are saying to the Ohio […]

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

HOMEOWNER FIGHTS AND WINS WITH ACORN: watch HOMEOWNER FIGHTS AND WINS ON PRODUCE THE NOTE: watch BLACKMAIL: NO LATE PAYMENTS? NO PROBLEM. GET OUT!: watch PRODUCE THE NOTE: WHEN THE BANK LOST OR DESTROYED THE EVIDENCE: watch “EVERYONE SHOULD PUT THE ‘LENDER’ TO TASK”: watch Servicers do everything they can to keep loans in default, make money […]

Tags: bailout, borrower, credit crisis, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in bubble, Corruption, Eviction, Modification, securities fraud, Servicer |

EDITOR’S NOTE: It might seem unrelated, but the foreclosure crisis is very much related to BOTH the state budget problems and solutions. While Wall Street tinkered with real property in each state, making unrecorded transfers at huge profits, state Treasurers and county revenue departments have sat idly by watching tens of billions of dollars in […]

Tags: borrower, credit crisis, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |