Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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10/31/18

Harvard just put more than 6 million court cases online to give legal AI a boost
After five years of work, nearly 6.5 million US court cases are now available to access for free online.

10/31/18

The Economics of Justice
There is no doubt in the minds of most serious trial lawyers who dig deep enough that homeowners can and should win all or most of the foreclosure cases. There is also little doubt that homeowners will lose by default or by inadequate presentation

10/30/18

Foreclosures: The Lie We Are Living
Most people, including homeowners, believe that the homeowners do owe the money and that the entities that are attempting to foreclose should win. That is why the free house myth is so pervasive.

10/26/18

Evidence of Spiraling Financial Regulation Fulfill My Predictions
Like most attorneys, I’ve spent sleepless nights worrying about what will happen if the phones go silent or clients stop coming through the office door. Fortunately, DannLaw has been extremely busy lately. Unfortunately, the influx of clients hasn’t relieved my insomnia. Now I’m up agonizing about the future of our country.

10/24/18

PRO-BANK 5TH U.S. CIRCUIT APPELATES TAKE DOWN ANOTHER HOMEOWNER … MAYBE?
As promised, I bring you the latest relevant case from the Fifth U.S. Circuit Court of Appeals in the Big Easy. But wait … it wasn’t a “big easy” for the borrower, whose case I worked on long ago (in doing a chain of title assessment for) and whose assignments of deed of trust I use in my chain of title workshops to show “document manufacturing gone wrong”.

10/24/18

TPS — Third Party Strangers in Mortgage Cases
I’m sharing the wording I use in my TERA and Case Analysis reports now. I think the benefit of this wording is that it fills in the blank on who is the real creditor (owner of the debt). Hopefully it answers

10/23/18

FDIC chair: Risk has shifted from banks to mortgage servicers
One of the nation’s top bank regulators says the banking system is safe, but worries about risks at non-bank financial institutions, particularly mortgage servicers. The remarks from Federal Deposit Insurance Corp. Chair Jelena McWilliams come days after regulators freed the last “too big to fail” non-bank from extra regulation.

10/22/18

BankThink Trump reopening Wall Street casino by weakening Volcker Rule
Prohibiting Wall Street’s biggest, most dangerous banks from high-risk gambling with taxpayer-backed deposits, the Volcker Rule was one of the most important provisions of the 2010 Dodd-Frank financial reform law. It outlawed proprietary trading, which is Wall Street banks using other people’s money (depositors) to make socially useless bets to fund their bonuses.

10/21/18

Fred Hampton’s Boyhood House Saved From Foreclosure — For Now
The childhood home of slain Black Panther leader Fred Hampton, 804 S. 17th Ave. in Maywood, will not be up for auction this week, as was originally scheduled, buying community leaders some more time in their attempts to keep the home in the Hampton family.

10/19/18

Wall Street Loves These Risky Loans. The Rest of Us Should Be Wary
The C.L.O., a cousin of the mortgage-related product that malfunctioned a decade ago, has become one of the hottest investments on Wall Street.

10/18/18

Attorney Mark Stopa’s foreclosure cases are halted but clients’ checks are being cashed
TAMPA — A bankruptcy judge has ordered a temporary halt to all state and appellate court proceedings in which suspended foreclosure defense attorney Mark Stopa and his former law firm are counsel of record.

10/17/18

The Stunning Hypocrisy In Foreclosures: Scott Pelley Interviews Robo-Signer
The Stunning Hypocrisy In Foreclosures: Scott Pelley Interviews Robo-Signers (Originally posted FRI APR 6, 2011 on South Florida Law Blog In an eye-opening piece by 60 Minutes this week, Scott Pelley managed to actually interview robo-signers who had forged documents that allowed banks to foreclose on thousands of homes illegally.

10/17/18

If it is their case, then THEY must prove it
As I have said since 2006, the burden of proof should not shift to homeowners until the pretenders have made their case. To get rid of legal presumptions homeowners need only prove a credible narrative

10/16/18

Fake Evidence and False Representations
Foreclosure defense litigants usually find themselves in a fog of questions they can’t answer. That is because the banks are using a tactic that I have called “step-over.” If they can’t prove an essential element of a case they step over it and pretend it was already established before.

10/15/18

Discovery Changes and Broadens After Hawaii Supreme Court Decision
Based on questions that greeted me when I got to my desk this morning, here are just some of the thoughts that apply — a case review and analysis for each case being necessary to actually draft the right questions and to close any trap doors.

10/12/18

Hawaii Supreme Court: Yes to wrongful foreclosure counterclaim BEFORE foreclosure is completed and no to”plausible” pleading
Now that the courts are no longer in fear of precipitating an economic meltdown, it’s time to return to legal decisions instead of political decisions. The Hawaii Supreme Court has done just that in a common sense decision that sweeps aside most of the Wall Street arguments against allowing homeowners to raise the fraudulent foreclosure issue.

10/11/18

New report strongly recommends a public bank for New Jersey
Creating a public bank — Gov. Phil Murphy’s campaign centerpiece — has been left on the back burner since his election. But a new report supports the argument that it could play a key role in achieving big public-policy goals. John Reitmeyer writes about it in NJ Spotlight:

10/11/18

Bank of America fights court battle over purge of nearly 2 billion bank records
MIAMI – The nation's second-largest bank is squaring off in a contentious court battle against a Miami real estate attorney who is accusing it of purging 1.88 billion records to conceal alleged fraud.

10/10/18

Not So Innocent: Transfer of Servicing Rights
Fundamental questions: How can a “trust” change trustees without consent of the Trustor and/or beneficiaries? Is this statement true:

10/10/18

A Comeuppance For Bank Of America?
Susan Richardson, a Bank of America foreclosure victim, certainly hopes so. With bated breath she’s following a drama currently playing out in a California bankruptcy court.

10/09/18

HOW CAN THE NOTE BE TRANSFERRED WITHOUT THE DEBT?
For most people, the concept of indorsing a note and delivering an “original” of the note to the indorsee/endorsee can only mean one thing — the note is evidence of the debt and thus, by virtue of the merger doctrine, the transfer of the note means that the note was essentially “title” to the debt.

10/08/18

A Retrospective From The Trenches Of The Great Recession – 10 Years ..
Roy Oppenheim’s retrospection on the 10 Year Anniversary of the Great Recession Usually anniversaries tend to make us slow down and look back. For us at Oppenheim Law, the anniversary of the start of the Great-Recession of 2008 has been an opportunity to look back, appreciate what we have learned and set new goals for years to come

10/08/18

STANDING: THE CRUX TO DEFENDING FALSE CLAIMS OF SECURITIZATION OF MORTGAGE LOANS
Mortgage foreclosure is the civil equivalent of the death penalty. in criminal cases. Many court decisions have enthusiastically supported that notion and attached much more stringent rules to the enforcement of a mortgage or deed of trust than they use in enforcement of a note. That is, until the last 20 years.

10/05/18

IS FORECLOSURE MILL TROTT LAW DEFRAUDING WELLS FARGO AND MBS INVESTORS?
Detroit Foreclosure Mill Trott Law Accused Of Pocketing Money Meant For Wells Fargo And MBS Bond Holders

10/05/18

NYSE parent company ICE acquires MERS
Intercontinental Exchange, the parent company of the New York Stock Exchange, is now also the parent company of MERSCORP Holdings, as the companies announced Friday that ICE has acquired all of MERS.

10/04/18

Challenging MERS Agency In California Under RTC § 23302 – PART I
It has now been ten-years since the financial collapse in 2008, and document fabrication mills continue to churn out assignments on behalf of MERS as an individual entity, or as an agent/nominee for long deceased or bankrupt entities. Well here is a California law that may

10/04/18

Florida Foreclosure Help Coming Statewide, Oppenheim Law Says Go For It!
A new federally funded program is now accepting applications for mortgage assistance payments in Florida. The Florida Hardest-Hit program pays an applicant’s mortgage for up to six months to help them to focus on finding a job. There is a maximum, however, of $12,000. Also, the program will pay out up to $6,000 to bring loans current. If this seems meager, it is.

10/04/18

Bill Paatalo Hits Another Nail on the Head
If you want to know what persistence means, go visit Bill Paatalo. This time this Oregon private investigator has found a California statute that applies to many different originators.

10/03/18

Third DCA Issues Show Cause Order to Prominent Foreclosure Defense Attorney
The appellate court asked attorney Bruce Jacobs to show cause as to why there should not be sanctions levied against him in a Sept. 26 order. According to the order, there is a reasonable basis to conclude that Jacobs -- counsel for the appellant party -- violated rules for appellate procedure as well as the rules regulating the Florida Bar.

10/03/18

Mark Stopa’s Former Law Firm, Stay In My Home PA Officially Files For Chapter 7 Bankruptcy
Stay In My Home PA is officially bankrupt. The former law firm of Florida foreclosure defense attorney Mark Stopa declared Chapter 7 bankruptcy Tuesday.

10/03/18

After a big win over Amazon, Bernie sets his sights on big banks
Bernie Sanders notched a progressive victory Tuesday by playing a role in securing a $15 minimum wage for all Amazon employees. Now the Vermont senator is turning his attention to another American powerhouse: the financial sector.

10/03/18

Are banks like Wells Fargo the new slumlords? Pam Ragland’s post-foreclosure story.
Though it gets less publicity these days than it did in years past, the foreclosure crisis in the U.S. lingers. Sometimes it isn’t even the homeowners who suffer most from foreclosure.

10/02/18

Eight years after illegal foreclosure, McGreevey finally wins
Jacob McGreevey at long last got justice for himself and as many as two-dozen other military veterans. The former Marine fought a long and unsuccessful court battle to prove that creditors illegally seized his Vancouver home.

10/02/18

TILA RESCISSION: W.V. Federal District Court:”LENDER” MUST FILE SUIT, DAMAGES AWARDED TO BORROWER
major hat-tip to Charles Cox in Nevada. Federal Judge’s response to chicken little argument: [2] RMS argues that enforcing the statute as written would upend the mortgage industry.

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