Editor’s Note: The reason they “lost” the note is that it was a strategic decision to claim they lost it. There is a procedure for re-establishing a lost note and until recently the rules were extremely loose — because back in the days when those rules were established you had two parties (the borrower and […]

Tags: borrower, countrywide, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, predatory lending, securitization, TILA audit
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

Editor’s Note: The opinionators at NY Times have it right in their description but wrong in their prescription. The reality is that nearly all securitized mortgage loans are worthless and unenforceable. The marketplace seems to know that — with “mortgage-backed securities” (that are not backed by anything in reality) selling at 3 cents on the […]

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

Judge’s ruling deals blow to national mortgage servicer BY TIM O’REILEY A Las Vegas bankruptcy judge has dealt a blow to an obscure but critical piece of the mortgage enforcement machinery that could slow foreclosures. After a rare hearing in front of three judges last year that initially encompassed 27 cases, U.S. Bankruptcy Court Judge […]

Tags: bankruptcy, borrower, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

DOJ Probing Mortgage Data Processing Firms By Peg Brickley Of DOW JONES DAILY BANKRUPTCY REVIEW The Department of Justice is conducting a nationwide probe of the company whose automated systems handle half the mortgages in the U.S., looking for evidence Lender Processing Services Inc. (LPS) has “improperly directed” the actions of lawyers in bankruptcy court. […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, lender, Lender Liability, Mortgage, mortgage meltdown, TILA audit, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

Many Thanks to Ron Ryan, Esq. representing the Tucson Bankruptcy Bar for the submission below: Editor’s Note: Obama wasn’t kidding when he he said the thing that humbled or frustrated him the most was how slow Washington is to “get on board.” Dick Durbin had the class and guts to say it outright. The banks […]

Tags: bankruptcy, borrower, Chapter 13, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

Unfortunately, the bill would not only pay institutions handsomely for each modification they do — at $1,000 each, a bounty that could reach $10 billion — but it would also create opportunities for mortgage servicers to profit at the expense of investors who own the loans. Gretchen Morgenson deserves Kudos for her attempts to disclose […]

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

The whole thing is unraveling just we predicted 18 months ago. The largest transfer of wealth in world history is starting. The question is who is going to be behind the curve and who is going to be ahead of it? We are getting daily reports of many cases in which cases that have gone […]

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

First From Comments: mers-info-excellent-submission-and-discovery And second: take a look at this site, which is under attack by Goldman Sachs for telling the truth and raising good questions. Goldman Masters of the Unvierse are going to try to shut it down. www.goldmansachs666.com

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

The article below by Andrew Rosenfield is an excellent summary of the problems and contradictions facing the Obama administration. But it misses the same point that everyone has failed to ask about. If the intent was to sell the loans to investors and Wall Street took money for that sale, then we must assume that […]

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

Editor’s Note: This article is on the right track. Using the guidelines of resolution trust, a fair and equitable distribution of risk and loss could be achieved while at the same time demonstrating to the world that the United States accepts the responsibility for what our “masters of the universe” on Wall Street and Main […]

Tags: bailout, borrower, credit, credit crisis, disclosure, foreclosure defense, fraud, Lender Liability, mortgage meltdown, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |