Archives by Tag ' securitization '
The Court, possibly because of the pleadings and briefs refers to the Trust as “US Bank” — a complete misnomer that reveals a completely incorrect premise. Despite the clear allegation of the existence of the Trust — proffered by the Trust itself — the Courts are seeing these cases as “Bank v Homeowner” rather than […]
One of the things I personally have stayed away from is credit repair. But it really is something that virtually everyone needs if they have been at all touched by the continuing banking and servicing crisis. I have worked with one of our readers and frankly asked him, as an accountant, what services he could […]
We get it. Judges don’t like statutory rescission under TILA. They are not required to like TILA rescission but they are required to follow it. This decision openly defies the SCOTUS ruling and refuses to apply it. Despite clear legislative intent to prevent banks from stonewalling rescission they are succeeding in doing so nonetheless as […]
The court held that the FDCPA unambiguously requires any debt collector – first or subsequent – to send a section 1692g(a) validation notice within five days of its first communication with a consumer in connection with the collection of any debt. THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN […]
Judges are thinking the unthinkable — that none of the trusts ever acquired anything and that the foreclosures were and are a sham. THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER. —————- It isn’t “theory. It is facts, or rather the absence of […]
1sT Appellate District US Bank v Naifeh: “… we conclude that a borrower may rescind the loan transaction under TILA without filing a lawsuit, but when the rescission is challenged in litigation, the court has authority to decide whether the rescission notice is timely and whether the the procedure set forth in the TILA (sic) […]
Void means that the instrument meant nothing when it was filed, not that it is unenforceable now. Why Quiet Title Actions Often Fail Homeowners often ask about using a quiet title action to clear fraudulent mortgage claims. But the truth is: quiet title is a very limited remedy. Quiet title can only remove instruments that […]
In addition to defrauding the borrower whose signature will be copied and fabricated for dozens of “sales” of loans and securities deriving their value from a nonexistent loan contract, this distorted practice does two things: (a) it cheats investors out of their assumed and expected interest in nonexistent mortgage loan contracts and (b) it leaves […]
Virtually none of the nonjudicial or judicial foreclosures can be won by banks without use of legal presumptions that lead the court to assume facts that are plainly untrue. The bottom line is that the rules of evidence require proof of the transaction chain with no right to rely on legal presumptions. The banks can’t […]
there is no such thing as a soft landing in a cornered marketplace Despite claiming $52 TRILLION “notional” value in derivatives (nearly all the money in the world) DB has posted a shattering loss and according to the IMF poses the most serious systemic loss to the financial system. Reports indicate that 29 DB employees […]
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