THE POWER OF FRAUD CLAIM: Fruit from the Poison Tree

from our good friend Anonymous, he tells us why fraud is so important as a cause of action in these loan:

To answer your question – (and this is not directed at “You” – it is just to answer your question)

Because you used fraud to lend the money – that is, if you actually lent any money at all since prior mortgage may not have been even paid off – and/or funding/lending may have violated securities law and federal law designed to protect borrowers from your fraud. .

And, the fraud has many legs including

1) falsely telling borrowers the asset (house) was worth far more that it really was.
2) predatory lending – telling borrowers that they qualified for a loan based upon the (falsely) valued home asset – and not upon the borrowers income
3) Violating RESPA by not informing that the loan was table-funded – thus, concealing yourself as the actual lender – in violation of federal law
4) Violating TILA by charging yield-spread premiums for no work that was ever done.
5) Violating TILA by charging egregious loans terms – with near usury rates – and by failing to adequately disclose the terms – and hoping the borrowers – not as sophisticated as you – just would not notice.

All of this – and claiming the loan was securitized – when no documents support securitization. Losing documents and attaching false affidavits to cover up what was never done in the first place..

If you were lender/investor – who now claims money is owed to – then every party involved in the fraudulent process above – acted as your agent – because you concealed yourself.

And, by the fraud, a financial crisis was caused by your actions – blocking every homeowner from GETTING OUT of the fraudulent contract and/or by selling the home to resolve the situation.

You, as a concealed lender/investor cannot now come back – after all the damage and fraud you have done – and claim “But, you still owe me the money.” And, you cannot hide yourself, and with fraudulent documents, to then try to foreclose upon the homes – when you have to right to do so..

“You” – should be in jail.

Tags: fraud
Posted in bubble, Corruption, Eviction, securities fraud |