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 |

I think we will be seeing more from Judge Bailey but bravo to the Judge for being so insightful. If memory serves me correctly she is Chairman of the Foreclosure Task force in Florida and this is a very good way of (a) demonstrating how the pretender lenders played fast and loose with basic law […]

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

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 |

Don’t get misled by titles. The wording of the statute clearly uses “verification” not validation. Verification generally means some sworn document or affidavit. This means when you contest the debt under FDCPA (in addition to sending a QWR) the party who is supposedly collecting or enforcing the debt has a duty to “obtain verification”. And […]

Tags: bankruptcy, borrower, credit, disclosure, FDCPA, foreclosure defense, foreclosure offense, fraud, Lender Liability, Mortgage, securitization, TILA audit, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

Debtor Without Lawyer Defeats Motion for Relief from Stay, Based on Lack of Standing By Craig Andresen, Minnesota Bankruptcy Attorney on Mar 29, 2009 in Featured, Foreclosure Defense, Mortgage Issues In Bankruptcy, Mortgage Servicer Abuses A Washington bankruptcy court recently agreed with a pro se debtor that mortgage servicing agents do not possess legal standing […]

Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, securitization, trustee
Posted in 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 |