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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08/31/19

Verdict for Tampa Homeowner! Torrens Law Group

Verdict for Tampa Homeowner!
On June 25, 2019, we tried a foreclosure case in circuit court on behalf of a Hillsborough County homeowner. The bench trial resulted in the Court granting our motion for an involuntary dismissal of the foreclosure action.

08/29/19

Extension of Martin Act in New York Threatens Securitization Players Living Lies

Extension of Martin Act in New York Threatens Securitization Players
While most people didn’t notice, all of Wall Street took notice when the New York Governor signed into law a bill that extends the right of the state attorney general to investigate financial crimes and bring actions for equitable relief and damages.

08/28/19

Ditech Sale Blocked by Homeowner Claims of Botched Mortgages Bloomberg

Ditech Sale Blocked by Homeowner Claims of Botched Mortgages
Bankrupt mortgage servicer Ditech Holding Corp. saw its reorganization plan rejected on Wednesday after a federal judge ruled the company couldn’t sell its mortgage-servicing rights and reverse-mortgage business free and clear of consumer claims.

08/28/19

Federal Court Says Fannie Mae and Freddie Mac Foreclosures Have to Meet Constitutional Due Process Standards Nolo.com

Federal Court Says Fannie Mae and Freddie Mac Foreclosures Have to Meet Constitutional Due Process Standards
Based on a recent federal court decision, foreclosure procedures for Fannie Mae and Freddie Mac loans could change in states that allow nonjudicial foreclosures.

08/28/19

Jurisdictional Defense —- Certificate Holders vs Trust Living Lies

Jurisdictional Defense —- Certificate Holders vs Trust
Litigators often miss the point that the foreclosure is brought on behalf of certificate holders who have no right, title or interest in the debt, note or mortgage — and there is no assertion, allegation or exhibit that says otherwise.

08/27/19

Fannie Mae Admits Mortgage Transfers Without recording — Sees Substantial Liability Living Lies

Fannie Mae Admits Mortgage Transfers Without recording — Sees Substantial Liability
Hat tip: Bill Paatalo Everyone in law enforcement knows that if you can get suspect to say something he thinks will help him, you have the beginning of a confession or

08/26/19

Consent Order Contains Admission of False Affidavits and False Chains of Title Living Lies

Consent Order Contains Admission of False Affidavits and False Chains of Title
A lot of student loan debt ends up being claimed by “Trusts” that are exactly like REMIC trusts except they are not about residential mortgages. And as I have previously pointed out on these pages, the enforcement of those debts

08/22/19

How to present the defense in foreclosure Living Lies

How to present the defense in foreclosure
As we all continue to fight what we know are wrongful foreclosures we struggle with how to reveal that to a judge in a way that is so compelling that even the most bank biased judge will feel so uncomfortable with the proof that he or she is compelled to rule for the homeowner.

08/20/19

Warren: Trump DOJ settlements let big banks off easy American Banker

Warren: Trump DOJ settlements let big banks off easy
Sen. Elizabeth Warren is demanding information from the Justice Department about actions that Trump administration officials took last year to reduce the penalties against two large banks that sold faulty mortgages to investors in the run-up to the financial crisis.

08/19/19

Appellate Judges Do Not Redo the Case Living Lies

Appellate Judges Do Not Redo the Case
The appellate court does not review for purposes of figuring out whether an alternative decision would have been better. They review strictly for the purpose of deciding whether there was any legal basis supporting the judge’s decision. If the answer is yes the decision is affirmed. If the answer is no, then the decision is reversed.

08/19/19

Why “REMIC” Certificates Are Not Mortgage Backed Living Lies

Why “REMIC” Certificates Are Not Mortgage Backed
One of the things tying the SEC and the IRS in knots is that the securitization scheme was a scam that is now institutionalized. The Certificates pr “bonds” are not mortgage backed and that means the so-called REMIC trusts are not REMICs.

08/16/19

American Mortgage Service Co. and Eustis Mortgage plan to merge Housing Wire

American Mortgage Service Co. and Eustis Mortgage plan to merge
Two companies have combined 110 years of lending experience

08/16/19

Law Firm Admits Absence of Creditor Living Lies

Law Firm Admits Absence of Creditor
Hat Tip Bill Paatalo You are right, Bill. You can’t make this stuff up. But somehow judges still don’t want to believe it. How can you be attorney in fact for a nonexistent entity? law-firm-finally-admits-the-absence-of-any-mortgagee

08/16/19

How to Distinguish Between Ownership of the Debt, Ownership of the Note and Ownership of the Mortgage (or Deed of Trust) Living Lies

How to Distinguish Between Ownership of the Debt, Ownership of the Note and Ownership of the Mortgage (or Deed of Trust)
Amongst the lay people who are researching issues regarding who actually can enforce a mortgage, there is confusion arising from specific terms of art used by lawyers

08/15/19

Chase Laundered WAMU Loans Through Offshore Accounts with Fictitious Names Living Lies

Chase Laundered WAMU Loans Through Offshore Accounts with Fictitious Names
Bill Paatalo has once again made a breakthrough in analyzing and investigating the Chase-WAMU connection. see https://bpinvestigativeagency.com/did-chase-park-the-wamu-loans-in-off-shore-tax-haven-subsidiaries-evidence-says-yes/ Here is what we know: did-chase-park-the-wamu-loans-in-off-shore-tax-haven-subsidiaries-evidence-says-yes

08/14/19

A Key Change to Mortgage Lending Rules Is Coming in 2021. Here’s What That Could Mean Fortune

A Key Change to Mortgage Lending Rules Is Coming in 2021. Here’s What That Could Mean
In late July, the Consumer Financial Protection Bureau announced that it will allow the expiration of the so-called “GSE Patch.” The patch is

08/14/19

How One Woman Beat the Banks by David Dayen Living Lies

How One Woman Beat the Banks by David Dayen
I’m not sure if I ever knew about this article but it seems accurate. How One Woman Beat the Banks by David Dayen

08/14/19

Keep the Envelopes! Attention Forensic Auditors! How to Show They Are Lying About Everything Living Lies

Keep the Envelopes! Attention Forensic Auditors! How to Show They Are Lying About Everything
I have long described the practice of sending out correspondence and notices from, say for example PennyMac, from an address that has never been PennyMac.

08/14/19

How to Use Forensic Auditors During Discovery Living Lies

How to Use Forensic Auditors During Discovery
Discovery is a process that can be used in litigation. That means you have to be in court. Discovery is the process of asking for information that don’t already have or information that will corroborate information

08/13/19

How to track that PO Box When You Receive Notices or Statements Living Lies

How to track that PO Box When You Receive Notices or Statements
Click Here to Look Up P.O. Box Information

08/13/19

2018 DOJ Lawsuit Reveals Securitization Equivalent to “Leprosy” According to Wall Street Insiders Living Lies

2018 DOJ Lawsuit Reveals Securitization Equivalent to “Leprosy” According to Wall Street Insiders
Although the US Department of Justice has never filed criminal charges against anyone, they clearly wanted to do so. Having been limited by some sort of executive direction, they have been filing civil complaints.

08/12/19

Attention Accountants: Follow Up to Forensic Loan Seminar Living Lies

Attention Accountants: Follow Up to Forensic Loan Seminar
Recent reporting by companies involved in the creation and trading of various instruments that are designated to be “derivatives” or contracts on derivatives clearly shows a disclosure that they are not reporting results in accordance with GAAP.

08/12/19

Minus 0.5% Interest: Bank in Denmark will effectively pay qualified home buyers who take out a 10-year fixed rate mortgage Living Lies

Minus 0.5% Interest: Bank in Denmark will effectively pay qualified home buyers who take out a 10-year fixed rate mortgage
The answer is simple — the bank is not making money on the loan. It is making money by originating the loan. It is not making money by collecting interest, it is paying interest in exchange for the borrower’s signature.

08/10/19

DO YOU HAVE FORECLOSURE MONEY COMING TO YOU? Columbus Dispatch

DO YOU HAVE FORECLOSURE MONEY COMING TO YOU?
Here's how foreclosed homeowners can find out if they have surplus funds waiting for them and how to collect

08/10/19

FORECLOSED AND FLEECED Columbus Dispatch

FORECLOSED AND FLEECED
Vulnerable homeowners lose thousands in scheme involving lost properties

08/09/19

Chase-WAMU: Is it time to Declare Non Judicial Foreclosure Unconstitutional As Applied? Living Lies

Chase-WAMU: Is it time to Declare Non Judicial Foreclosure Unconstitutional As Applied?
Faced with a notice of foreclosure sale from a company claiming to be the trustee on a deed of trust, homeowners in judicial states

08/07/19

2008 Schack Decision Reminds Us How Something “Nefarious” Is Happening Living Lies

2008 Schack Decision Reminds Us How Something “Nefarious” Is Happening
It is worth remembering when the foreclosure tidal wave began and the banks were at least as arrogant as today creating sham entities, sham addresses, sham documents, fabricated instruments with sham people.

08/06/19

Ocwen agrees to refund Maine residents to end foreclosure dispute with the state Housing Wire

Ocwen agrees to refund Maine residents to end foreclosure dispute with the state
Will pay to make amends for pursuing foreclosure on loans for which Maine said it had no claim

08/06/19

Ocwen agrees to refund Maine residents to end foreclosure dispute with the state Housing Wire

Ocwen agrees to refund Maine residents to end foreclosure dispute with the state
Will pay to make amends for pursuing foreclosure on loans for which Maine said it had no claim

08/06/19

Consumer watchdog blasts government’s loan sales program — says it has ‘no rules’ in place to help people save their homes Market Watch

Consumer watchdog blasts government’s loan sales program — says it has ‘no rules’ in place to help people save their homes
The Consumer Financial Protection Board (CFPB) is considering rule changes that might negatively impact consumers. Unless a substantial number

08/06/19

Get out your pen! Write comments to CFPB! Living Lies

Get out your pen! Write comments to CFPB!
The Consumer Financial Protection Board (CFPB) is considering rule changes that might negatively impact consumers. Unless a substantial number

08/05/19

Finally a Judge Asks the right Questions about TILA Rescission and Invites Briefs Living Lies

Finally a Judge Asks the right Questions about TILA Rescission and Invites Briefs
The time may now be coming where the court systems and Federal and State legislatures must come to terms with two inescapable legal facts:

08/05/19

Mr Cooper: Now You See It Now You Don’t — Maybe They Own Debt and then Again Maybe Not: 10Q report to SEC Living Lies

Mr Cooper: Now You See It Now You Don’t — Maybe They Own Debt and then Again Maybe Not: 10Q report to SEC
READ SLOWLY, Breathe, repeat

08/02/19

How Trump’s Political Appointees Overruled Tougher Settlements With Big Banks Propublica

How Trump’s Political Appointees Overruled Tougher Settlements With Big Banks
After talks with well-connected lawyers for Barclays and Royal Bank of Scotland, senior Justice Department officials in Washington last year told career prosecutors who’d been investigating the banks’ misdeeds to settle for less than they wanted.

08/02/19

US Bank and Deutsch Agree That They Should NOT be named as Plaintiffs in Foreclosures Living Lies

US Bank and Deutsch Agree That They Should NOT be named as Plaintiffs in Foreclosures
People forget that Deutsch issued a directive to all servicers to cease using its name when initiating foreclosures. The investment banks fought back and

08/01/19

Fry Law's Sacramento Injury Attorneys Stand Up for Homeowners and Stick it to Wells Fargo...Again! Fry Law Corp.

Fry Law's Sacramento Injury Attorneys Stand Up for Homeowners and Stick it to Wells Fargo...Again!
In late 2014, a Sacramento couple represented by the personal injury attorneys at Fry Law Corporation submitted a loan modification application to Wells Fargo. After months and months of the review process,

08/01/19

Mortgage servicers are missing the boat when it comes to customer satisfaction Housing Wire

Mortgage servicers are missing the boat when it comes to customer satisfaction
Let's just say servicers have a lot of room for improvement when it comes to customer satisfaction.

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