Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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04/18/19

C&E Strategy is the beginning of a successful attack on the claimed enforcement of a mortgage or deed of trust. Living Lies

C&E Strategy is the beginning of a successful attack on the claimed enforcement of a mortgage or deed of trust.
Attacks on technical deficiencies of assignments of mortgage is a great place to start, but it is not the finish line.

04/17/19

DiTech: The Pretense Continues Living Lies

DiTech: The Pretense Continues
DiTech was not a lender. It was a sales agent or loan broker. Nonetheless a new agreement has been executed in which major creditors of DiTech are resurrecting the illusion

04/16/19

Deutsche Bank: Here’s What Maxine Waters Should Be Subpoenaing Wallstreetonparade.com

Deutsche Bank: Here’s What Maxine Waters Should Be Subpoenaing
According to today’s New York Times, Democrats now in charge of the House Intelligence and Financial Services Committees, have issued subpoenas to Deutsche Bank, JPMorgan Chase, Bank of America and Citigroup, related to the President’s finances and/or Russian money laundering.

04/16/19

Fannie Mae Explains Securitization and Distribution of Ownership of Debt Living Lies

Fannie Mae Explains Securitization and Distribution of Ownership of Debt
As a quasi government agency Fannie Mae is forced to be forthcoming about its role in lending. But the wording of disclosures mostly come from Wall Street investment banks.

04/13/19

DEFEATING DIVERSITY IN FORECLOSURE ACTIONS Clouded Titles Blog

DEFEATING DIVERSITY IN FORECLOSURE ACTIONS
Even in its most liberal stature, the U.S. 9th Circuit Court of Appeals has again, redefined and re-explained that REMIC trusts can end up costing you lots of money in litigation,

04/12/19

Research Study on Ongoing Crime Spree by Wall Street Mega Banks Gets News Blackout: Here’s Why Wallstreetonparade.com

Research Study on Ongoing Crime Spree by Wall Street Mega Banks Gets News Blackout: Here’s Why
One day before Democrats on the House Financial Services Committee held an historic grilling of the CEOs of the mega banks on Wall Street, the nonprofit watchdog, Better Markets, released an in-depth research report

04/12/19

General Electric agrees to pay $1.5B civil penalty over subprime mortgages The Blaze

General Electric agrees to pay $1.5B civil penalty over subprime mortgages
General Electric has agreed to pay a $1.5 billion settlement for accounting violations related to a now-defunct business that handled subprime mortgages.

04/11/19

Cal. 3d DCA: WRONGFUL FORECLOSURE — You Can Cancel the Assignment, Notice of Default, Notice of Sale and Reverse the Sale. Living Lies

Cal. 3d DCA: WRONGFUL FORECLOSURE — You Can Cancel the Assignment, Notice of Default, Notice of Sale and Reverse the Sale.
This decision “Not for publication” takes one more step toward unravelling the false claims of securitization that resulted in millions of fake foreclosures over at least 15 years

04/10/19

Florida Bankers Association Admission to Florida Supreme Court: “Original Notes Were Eliminated” Living Lies

Florida Bankers Association Admission to Florida Supreme Court: “Original Notes Were Eliminated”
Courtesy of Bill Paatalo, I have located the stark 2009 admission by the Florida Bankers Association that original notes were destroyed contemporaneously with the loan closing.

04/10/19

Bill seeks to hold judges accountable Lowell Sun

Bill seeks to hold judges accountable
BOSTON — Judges in Massachusetts might soon be in for a surprise, as a local legislator is pushing the state to start checking in with them every seven years.

04/09/19

Stop Feeling Guilty — Be A Warrior Living Lies

Stop Feeling Guilty — Be A Warrior
Shame is the reason why most borrowers don’t contest foreclosures. That shame turns to intense anger when they realize that they were used, screwed, abused and now they are

04/09/19

MA Attorney General Secures $2 Million From National Mortgage Servicer Over Unfair And Unaffordable Loan Modifications Mortgageledger.com

MA Attorney General Secures $2 Million From National Mortgage Servicer Over Unfair And Unaffordable Loan Modifications
A national mortgage servicing company will pay $2 million and undertake affordable loan modifications for affected Massachusetts homeowners, Attorney General Maura Healey announced today. The settlement resolves allegations that Caliber Homes Loans Inc. (Caliber) failed to help borrowers avoid foreclosure and instead gave homeowners unaffordable loan modifications with ballooning monthly payments they could not afford.

04/08/19

Steve Eisman and FrontPoint Were Shorting Wall Street Banks While the Dumb Fed Was Giving FrontPoint Emergency Loans – and that’s not the Worst Part of this Story Wallstreetonparade.com

Steve Eisman and FrontPoint Were Shorting Wall Street Banks While the Dumb Fed Was Giving FrontPoint Emergency Loans – and that’s not the Worst Part of this Story
Steve Eisman is one of the central characters in the Michael Lewis bestselling book, The Big Short. In the movie of the same name,

04/08/19

CERTO v. BANK OF NEW YORK MELLON Stopforeclosurefraud.com

CERTO v. BANK OF NEW YORK MELLON
FL 1st DCA – An agreement to which Mellon is not a party does not evidence a transfer of the Note to Mellon. Thus, the documents Mellon introduced below and that it cites on appeal do not evidence its purchase of the debt or an effective transfer or valid assignment to it.

04/05/19

Miami-Dade Judge Rules Retroactive Provision in Florida's Foreclosure Law is Unconstitutional Daily Business Review - Law.com

Miami-Dade Judge Rules Retroactive Provision in Florida's Foreclosure Law is Unconstitutional
Judge David Miller's wrote that the specific application of the Florida Fair Foreclosure Act—a 2013 law created in response to the housing crisis— to a case before him was at odds with the Florida Constitution.

04/05/19

Discovery from REMIC Rules Living Lies

Discovery from REMIC Rules
I have added to my templates for discovery questions and requests relating to a claimant that is named “XYZ Bank, N.A. as trustee for the ABCDE Corp. Trust Series 12345-4321A Certificates” and where, as in most cases,

04/04/19

You Elected Them To Write New Laws Theyre Letting Corporations Do It Instead Publicintegrity.org

You Elected Them To Write New Laws Theyre Letting Corporations Do It Instead
Each year, state lawmakers across the U.S. introduce thousands of bills dreamed up and written by corporations, industry groups and think tanks. Disguised as the work of lawmakers, these so-called “model” bills

04/04/19

San Francisco Chronicle: California can’t divert mortgage relief funds to pay off state debt Housing Wire

San Francisco Chronicle: California can’t divert mortgage relief funds to pay off state debt
In a former job, Neil Barofsky’s title was SIGTARP – the Special Inspector General overseeing the Troubled Assets Relief Program. He was one of the

04/03/19

UCC: The Internet is no substitute for law school Living Lies

UCC: The Internet is no substitute for law school
he way that borrowers lose cases is by picking out one thing from a case or statute and treating it as a magic bullet. If the law were that simple a computer would be deciding all cases.

04/02/19

Common Sense Prevails: SCOTUS Broadens Primary Liability for Fraudulent Schemes Living Lies

Common Sense Prevails: SCOTUS Broadens Primary Liability for Fraudulent Schemes
For quite some time, the courts have struggled with the concept of primary liability for a lying liar and secondary liability for a liar who passes on the lie knowing that it was a lie. Scotus, in the Lorenzo decision has now said that is a distinction without a difference.

04/01/19

Begging to Lose Money? Think About It! Living Lies

Begging to Lose Money? Think About It!
There are two morals to this story. First always use a legal and financial adviser if you are about to make the largest investment of your life. Second, there is no such thing as boilerplate or standard clauses.

04/01/19

After a Decade of Cheap Money, the Federal Reserve Still Has No Exit Strategy Foundation For Economic Educaton

After a Decade of Cheap Money, the Federal Reserve Still Has No Exit Strategy
Everything the Federal Reserve did to cause the housing crash was done on a much larger scale, not just in 2008, but in every year since.

04/01/19

MMT Scholars’ Predictive and Policy Successes – Part A Neweconomicperspectives.org

MMT Scholars’ Predictive and Policy Successes – Part A
By William K. Black March 31, 2019 Bloomington, MN Introduction The second article in this series deals with Modern Monetary Theory’s (MMT) predictive and policy successes. The article has three, separately published, parts.

04/01/19

Why Homeowners Should Win Foreclosures: It’s the Moral Thing to Do. Living Lies

Why Homeowners Should Win Foreclosures: It’s the Moral Thing to Do.
The reason why thousands of cases have been confidentially settled with satisfactions of mortgages, payment of attorney’s fees and damages is that the banks are willing to pay anything necessary to preserve the tree (certificates) and the branches (derivatives) and the leaves (minibonds and contracts like credit default swaps). The risk to the investment bank is enormous if the tree falls.

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