TONIGHT! The benefits of criminal enterprise!

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with Charles Marshall and Bill Paatalo

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A couple of years ago I had a Federal judge ask me directly, during my closing argument, whether I thought the people responsible for these foreclosures should be in jail. My response was immediate and unequivocal. YES.

Today Charles Marshall discusses this on the West Coast Foreclosure show with Bill Paatalo. Specifically we will discuss a civil lawsuit in which Nationstar Mortgage LLC is suing various defendants for essentially subverting Nationstar’s ostensibly valid interest in the subject properties. This suit, short title Nationstar v. Patrick Joseph Soria, et al, seeks to use the power of a full-blown Defendants’ asset freeze to shut down the efforts of Defendants to continue what appears on its face to be a criminal enterprise.

Caveats all around here, though it needs to be said that various criminal investigations into Defendants’ conduct are being directed from various quarters in California, including Los Angeles County and portions of Central California, in which according to the Nationstar lawsuit criminal proceedings are pending against Soria in San Joaquin County re the business enterprise at issue here. See Neil’s Blog for some case information and documentation on this Nationstar lawsuit.

Ah yes, the inevitability of all this….it is almost patently reasonable to maintain that it was and is inevitable that California’s non-judicial foreclosure scheme is great cover for the type of activity seen here. Same non-judicial legal framework is but a modest–one might say papier mache–backstop against illegitimate foreclosure actions, where the proving of true title before proceeding with a trustee’s sale is rarely vetted by the Courts, and only then when hard-pressed homeowners elect to sue to try and protect their fragile legal rights, in which proceedings more often than not the ‘pretender-lender’ is ratified as the real one by California’s courts, State and Federal.

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