The REMICS are mirror images of the NINJA loans — no income, no assets, no job the borrower did not realize that the false appraisal and other deficiencies in underwriting had shifted the risk of loss to the homeowner and the investors Editor’s Notes: Our economy and the economic structure in other countries is stuck […]

Tags: appraisal fraud, common law fraud, compensatory damages, deceptive lending, exemplary damages, Federal reserve, NINJA, Ponzi scheme, punitive damages, REMIC, RICO Fraud, risk of loss, TILA, treble damages, underwriting committee, underwriting standards, wrongful foreclosure, wrongful lending
Posted in bubble, Corruption, Eviction, securities fraud |

Your allegations of intentional misdeeds, fabricated documents and forgeries have new life now that the SEC is hot on the trail of the wrongdoers in a very public way. As the news sinks in more and more Judges, lawyers and experts and forensic analysts will see their role more as a commitment to justice than […]

Tags: affordability, appraisal verification, belief, confidence, fabricated documents, fair market value, forgeries, Goldman Sachs, income verification, industry underwriting standards, intentional misdeeds, NASDAQ, pretender lenders, TILA, Truth in Lending Law, underwriting standards
Posted in bubble, Corruption, Eviction, securities fraud |

NOW AVAILABLE ON KINDLE/AMAZON WHY THIS IS IMPORTANT TO FORECLOSURE DEFENSE AND OFFENSE: OK I know the last thing you want to hear is how complex this scheme was. But if you can get over the intimidation factor, you will see how the lawsuits filed by individual homeowners, attorney generals, and class actions are picking […]

Tags: AAA rating, borrower, disclosure, Fitch, foreclosure defense, foreclosure offense, fraud, Lender Liability, McGraw Hill, Moody's, ohio police and fire pension fund, Ohio Public employment retirement System, rating agencies, rescission, SEC, Securities and Exchange Commission, securitization, Standard & Poor's, Trile-A, underwriting standards
Posted in bubble, Corruption, Eviction, securities fraud |

By GRETCHEN MORGENSON Published: November 1, 2008 AS a senior mortgage underwriter, Keysha Cooper was proud of her ability to spot fraud and other problems in a loan application. A decade of vetting mortgage documents had taught her plenty, she says. But as a senior mortgage underwriter at Washington Mutual during the late, great mortgage […]

Tags: foreclosure defense, JP Morgan Chase, Kerry Killinger, restructure desk, underwriting standards, WAMU, Washington Mutual
Posted in Eviction |

Ex-Capital One employee files whistleblower lawsuit Thu Jun 12, 2008 5:49pm EDT NEW YORK, June 12 (Reuters) – A former underwriter who says she was forced to resign after blowing the whistle on fraud at Capital One Financial Corp’s (COF.N: Quote, Profile, Research, Stock Buzz) subprime mortgage unit filed a $51 million lawsuit against her former employer on Thursday. […]

Tags: CAPITAL ONE, foreclosure defense, GREENPOINT MORTGAGE, NEW YORK STATE BANKING DEPARTMENT, STEINMETZ, underwriting standards
Posted in Eviction |

COUNTRYWIDE SUED FOR IMPROPER LENDING PRACTICES BY ITS SHAREHOLDERS: GOOD MATERIAL HERE FOR BORROWERS TO ALLEGE IN THEIR LAWSUITS AND DEFENSIVE ACTIONS In these posts I am trying to keep pace with the events unfolding on the investor side of the Mortgage Meltdown. That is because these lawsuits are more sophisticated than the usual fair […]

Tags: borrowers, CALIFORNIA, countrywide, lenders, Pfaelzer, risk, securitization, underwriting standards
Posted in bubble, Corruption, Eviction, securities fraud |