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 |

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 |

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 |

By Walter Hackett, Esq. The federal government has trumpeted its Home Affordable Modification Program or “HAMP” solution as THE solution to runaway foreclosures – few things could be further from the truth.  Under HAMP a homeowner will be offered a “workout” that can result in the homeowner being “worked out” of his or her home.  […]

Tags: audit, bailout, bankruptcy, borrower, brad keiser, credit, credit crisis, depression, Eviction, FDG, Federal Bailout, foreclosure, foreclosure defense, Foreclosure Defense Group, foreclosure offense, foreclosures, fraud, HAMP, lawyers, Lender Liability, Loan Mod, LOAN MODIFICATION, lost note, Mortgage, predatory lending, quiet title, rescission, RESPA, RICO, TILA audit
Posted in Uncategorized |

Looking for the Lenders’ Little Helpers By GRETCHEN MORGENSON Published: July 11, 2009 IT is hard not to be dismayed by the fact that two years into our economic crisis so few perpetrators of financial misdeeds have been held accountable for their actions. That so many failed mortgage lenders do not appear to face any […]

Tags: borrower, disclosure, First Alliance, foreclosure defense, foreclosure offense, fraud, Lehman, Lender Liability, predatory lending, rescission, RESPA, RICO, securitization, trustee, Wells Fargo
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
Posted in bubble, Eviction |

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 |

From M Solimon: {Editor’s Note: Lots more here than meets the eye. You want to know what ledger entries were made by each entity and by what individuals and under whose supervision or instructions the entry was made. Besides being able to trace the holder in due course you will probably eliminate most of their […]

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