Since the times of ancient Greece and even before that, it has been a commonly used statement that before discussion of an issue each party should precisely define their terms. The obvious conclusion has been that without agreed definitions, it is highly probable that each side is talking about something different and making no point […]

Tags: bookrunner, investment bank, refinancing, securitization, servicer, Servicer advances, standing, Underwriter
Posted in Uncategorized |

The banks were not taking risks. They were making risks and profiting from them. Or another way of looking at it is that with their superior knowledge they were neither taking nor making risks; instead they were creating the illusion of risk when the outcome was virtually certain. Securitization as practiced by Wall Street and […]

Tags: CERTIFICATES, common law trust, foreclosures, Master Servicer, Merril Lynch, Moody's, Mortgage Loan Schedule, Pooling and Servicing Agreement, Prospectus, REMIC, Rent-A-Name, securitization, stable managed fund, trust, Underwriter, US BANK
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For Further information please call 954-495-9867 or 520-405-1688 ========================== see http://dealbook.nytimes.com/2015/01/26/ocwen-and-bondholders-clash-over-mortgage-services/?_r=0 And if you are in the mood to drill into Ocwen’s Business, see http://www.sec.gov/Archives/edgar/data/1513161/000119312513024292/d474092dex991.htm Every once in a while you get a peek at what is really happening behind the scenes. The view from here is startling sometimes even to me. Here we have […]

Tags: bondholders, Master Servicer, Ocwen, PSA, REMIC, TRUSTS, Underwriter
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I have not followed Prommis Holdings closely but I can recall that some people have sent in reports that Prommis was the named creditor in some foreclosure proceedings. The reason I am posting this is because the bankruptcy filings including the statement of affairs will probably give some important clues to the real money story […]

Tags: bankruptcy, debt, Deny and Discover, document trail, investment bank, Investor, look-back period, money trail, Mortgage, note, Prommis, schedules, statement of affairs, Underwriter
Posted in bubble, Corruption, Eviction, securities fraud |

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE Delaware sues MERS, claims mortgage deception Posted on Stop Foreclosure Fraud Posted on27 October 2011. Some saw this coming in the last few weeks. Now all HELL is about to Break Loose. This is one of the States I mentioned MERS has to […]

Tags: 50 state settlement, attorney general, Bank of America, bankruptcy, Beau Biden, borrower, CALIFORNIA, Cassandra Daniels, Catherine Cortez Masto, countrywide, criminal, DELAWARE, disclosure, Eileen Foster, employees, Eric Schneiderman, foreclosure, foreclosure defense, foreclosure fraud, foreclosure offense, foreclosures, fraud, Gavin Newsom, Investigation, jack conway, Kamala D. Harris, kentucky, LOAN MODIFICATION, Lori Swanson, mail fraud, Martha Coakley, Massachusetts, MBS, MERS, michael hudson, Minnesota, modification, Mortgage, mortgage backed securities, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., Nevada, New York, quiet title, Refinance, rescission, RESPA, securitization, settlement, TILA audit, trustee, TRUSTS, U.S. Department of Labor, Underwriter, Wall Street, WEISBAND, whistleblower, wire fraud
Posted in bubble, Corruption, Eviction, securities fraud |

I like this post from a reader in Colorado. Besides knowing what he is talking about, he raises some good issues. For example the original issue discount. Normally it is the fee for the underwriter. But this is a cover for a fee on steroids. They took money from the investor and then “bought” (without […]

Tags: accounting, ACTUAL RECEIVABLE, CREDIT EVENT, foreclosure, FORM 938, fraud, HERS, IRS, NOMINAL RECEIVABLE, ORIGINAL ISSUE DISCOUNT, REMIC, SERVICER FEE, taxes, Underwriter, WAMU, yield spread premium
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud, Servicer |

Editor’s Note: Here is where the foreclosure or mortgage analysts get separated — the ones who understand the process of securitization and the ones who don’t. I received this from a pro se litigant in a case where Wells Fargo identified itself as the creditor/lender (as usual, not true). In fact Wells denied that the […]

Tags: creditor, forensic analysis, Master Servicer, mortgages, Reconstituted Service Agreement, Service Agreement, servicer, Thornburg Mortgage Securities Trust 2006-5, Thornburgh, Thornburgh Mortgage Home Loans, Underwriter, Wells Fargo
Posted in bubble, Corruption, Eviction, securities fraud |