loan_origination_mortgage_fraud_ffiec loan_origination_mortgage_fraud_prevention_response_nelson Red Flags • Critical loan processing activities, such as  verification of income, employment, or deposit, is delegated to brokers. • Delegated underwriting allowed for correspondents that are new or lack an established track record with the FI. • A growing number of loans is being repurchased due to misrepresentations by the FI under […]

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

Gump59 – Why buy performing mortgages? If they are producing income for their owners, why wouldn’t they be held onto? > ANSWER: You’d buy a performing mortgage if you thought that you were buying it at a bargain, guaranteed with Triple AAA rating. If you buy a mortgage note that has a principal balance due […]

Tags: audit, bailout, bankruptcy, borrower, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

Would You Pay $103,000 for This Arizona Fixer-Upper? That Was Ms. Halterman’s Mortgage on It; ‘Unfit for Human Occupancy,’ City Says By MICHAEL M. PHILLIPS AVONDALE, Ariz. — The little blue house rests on a few pieces of wood and concrete block. The exterior walls, ravaged by dry rot, bend to the touch. At some […]

Tags: borrower, credit crisis, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, Mortgage, mortgage meltdown, quiet title, rescission, RESPA, RICO, securitization, TILA
Posted in bubble, Corruption, Eviction, securities fraud |

The “lenders’ are holding nothing but worthless or at best questionable paper. As soon as you sign a modification you are validating a debt that you most likely don’t have anymore or at worst have substantial offsets against and you are validating a security instrument (mortgage) that was destroyed in the securitization process. Check with […]

Tags: borrower, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, Mortgage, mortgage meltdown, quiet title, rescission, RESPA, securitization, TILA audit, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

December 23, 2008 Irregularity Uncovered at IndyMac   By EDMUND L. ANDREWS   WASHINGTON — Two months before IndyMac Bancorp collapsed in July, at a cost of $8.9 billion to taxpayers, a top federal banking regulator allowed the bank to backdate a capital infusion and gloss over its deepening problems, the Treasury Department’s independent investigator […]

Tags: audit, bankruptcy, credit crisis, disclosure, foreclosure defense, foreclosure offense, fraud, housing, lawyers, Lender Liability, Mortgage, mortgage meltdown, predatory lending, rescission, RESPA, RICO, securitization, TILA audit, trustee
Posted in bubble, Corruption, securities fraud |

Kevin Lamson Said, So can anyone guess the name of “organization” that was formed by Countrywide’s, Anthony Mazillo and Fannie Mae’s, James Johnson ten years ago it start with an M? No not the Mafia. It’s Mortgage Electronic Registration Systems Inc. commonly referred to as MERS. Yes that’s right Countrywide and Fannie Mae were the […]

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

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Tags: foreclosure defense, foreclosure offense, lender, Lender Liability, Mortgage, mortgage meltdown, RESPA, RICO, TILA, TILA audit
Posted in bubble, Corruption, Eviction, securities fraud |

Report: New Century’s GC Warned Managers of Subprime Danger Sue Reisinger Corporate Counsel March 31, 2008 Listening to its general counsel might well have saved New Century Financial Corp., once the nation’s second-largest subprime mortgage lender, from plunging into bankruptcy a year ago. That’s one lesson from a 581-page report filed Wednesday by Michael Missal.A […]

Tags: audit, bankruptcy, borrower, credit crisis, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, rescission, RESPA, RICO, TILA
Posted in bubble, Corruption, Eviction, securities fraud |

securities consultant says Merrill Lynch knew or should have known the securities they brought to market where overrated (From her website: “She wrote the first letter the SEC posted in February 2007 in response to its proposed rules for the credit rating agencies; she made the case that the NRSRO designation for the rating agencies […]

Tags: bailout, depression, disclosure, foreclosure defense, foreclosure offense, lost note, mortgage meltdown, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

History shows that the descriptions and predictions in this piece I wrote 1 1/2 years ago were unfortunately on target. What I didn’t realize at the time, was that many if not most of the money was at that time going for “refi’s” that homeowners did not solicit or want. There was a knock on […]

Tags: conspiracy, foreclosure defense, foreclosure offense, mortgage meltdown, PREDATORY LOANS
Posted in bubble, Eviction |