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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06/24/19

Expert: Quick closings sound great for consumers, but are they really? Housing Wire

Expert: Quick closings sound great for consumers, but are they really?
A 10-minute closing may sound like it’s great for the borrower, but one expert questions if the consumer would really benefit from faster closings.

06/24/19

Great Article on Discovery Living Lies

Great Article on Discovery
While I have often expressed my opinions regarding how to conduct discovery, the article written by Donna Welch, Esq., and Kaitlin L. Coverstone of Kirkland and Ellis LP in Chicago Illinois presents a clearer and more concise blueprint for planning and executing discovery.

06/23/19

New Case Update: Owner of Property May Defend Foreclosure, Even If Not on Mortgage Torrens Law Group

New Case Update: Owner of Property May Defend Foreclosure, Even If Not on Mortgage
The Second District Court of Appeal recently stepped in on a very important question: whether an owner of a property who is not on the mortgage, but acquired ownership of the property before the foreclosure suit, may challenge the bank's foreclosure case.

06/23/19

3 Foreclosures Defeated in 3 Weeks! Torrens Law Group

3 Foreclosures Defeated in 3 Weeks!
Over the last three weeks, we have had three different foreclosure cases that were set for trial in which the bank has agreed to voluntarily dismiss the foreclosure actions.

06/22/19

Supreme Court Overturns Precedent In Property Rights Case — A Sign Of Things To Come? NPR

Supreme Court Overturns Precedent In Property Rights Case — A Sign Of Things To Come?
A sharply divided U.S. Supreme Court ruled Friday that property owners can go directly to federal court with claims that state and local regulations effectively deprive landowners of the use of their property.

06/22/19

Conservative SCOTUS Decades Old Overturns Property Rights Injustice Conservative Daily Post

Conservative SCOTUS Decades Old Overturns Property Rights Injustice
Previously, people who had their property seized by the government couldn’t fight back, but now, that injustice has been removed.

06/22/19

Knicht v Township of Scott, Pennsylvania Scott Stafne

Knicht v Township of Scott, Pennsylvania
U.S. Supreme Court overrules previous precedent and holds a government violates the Takings Clause of the Fifth Amendment when it takes property without compensation, and a property owner may bring a Fifth Amendment claim under §1983 at that time.

06/21/19

A green and just transition requires democratized public banks – Costa Rica style Opendemocracy.net

A green and just transition requires democratized public banks – Costa Rica style
Public banks have far greater financial capacity than we think. We need to harness it for the good of people and planet

06/21/19

Tough Love: Stop Attacking Judges as Stupid or Corrupt. Living Lies

Tough Love: Stop Attacking Judges as Stupid or Corrupt.
Without naming names, I recently responded to an email insisting that I take judges to task for “bad rulings.”

06/19/19

At Wells Fargo, a tone-deaf response to shattered lives Charlotteobserver.com

At Wells Fargo, a tone-deaf response to shattered lives
The next time you see a commercial declaring a new era at Wells Fargo, or the next time you hear a Wells executive touting a new culture, remember Stan and Melissa West.

06/19/19

Sanction Awards to Miami Attorney Bruce Jacobs Could Help City Establish Affordable Housing Fund Law.com

Sanction Awards to Miami Attorney Bruce Jacobs Could Help City Establish Affordable Housing Fund
City of Miami officials have partnered with one of Miami’s most outspoken foreclosure defense litigators to establish a novel method of adding affordable housing to the city.

06/19/19

Help! I need somebody! How to convince an attorney to take your foreclosure case Living Lies

Help! I need somebody! How to convince an attorney to take your foreclosure case
We are inundated with requests for help. We will try to get to each request in timely fashion but in the meantime perhaps this post will be of some assistance

06/18/19

Supreme Court Gives Consumers a Rare Win Jakelegal.com

Supreme Court Gives Consumers a Rare Win
It is not often lately that there is news of the United States Supreme Court making a decision that is in favor of consumers. Recently, however, the court did just that, putting limits on big business’ and banks’ ability to try to make class action cases more difficult for consumers.

06/18/19

Great Article Summarizing Securitization Risks Living Lies

Great Article Summarizing Securitization Risks
This was originally hailed as a brilliant financial innovation as US Fed chair Alan Greenspan believed that CDOs transferred risk from banks to investors

06/18/19

Illinois Court of Appeals Cracks Code of Silence on Who Pays Foreclosure Mills Living Lies

Illinois Court of Appeals Cracks Code of Silence on Who Pays Foreclosure Mills
The wording of the decision strongly suggests that whether the claimant is US Bank, Deutsch or BONY Mellon et al, the third party who is

06/18/19

Wells Fargo mistakes cost people their homes. It was just the start of their problems Charlotteobserver.com

Wells Fargo mistakes cost people their homes. It was just the start of their problems
About nine years ago, a Burlington woman begged Wells Fargo to keep working with her to lower her mortgage payments. She had just lost her job, and the single mom was struggling to pay for the house she shared with her three kids.

06/17/19

Quicken Loans agrees to $32.5 million settlement in federal mortgage fraud lawsuit Cleveland.com

Quicken Loans agrees to $32.5 million settlement in federal mortgage fraud lawsuit
CLEVELAND, Ohio — Quicken Loans has agreed to pay $32.5 million to settle a years-old lawsuit in which the Justice Department accused the lending company of mortgage fraud.

06/17/19

I Have a Plan Too. Statutory Changes Governing Loans and Foreclosures. Living Lies

I Have a Plan Too. Statutory Changes Governing Loans and Foreclosures.
I recently received an email from a contributing reader who was complaining that judges are to blame for the foreclosure mess. Correction. While judges might share some blame,

06/14/19

UPDATE: DITECH BANKRUPTCY INFORMATION Cloudedtitlesblog.com

UPDATE: DITECH BANKRUPTCY INFORMATION
Here’s the latest posting on Ditech’s bankruptcy action (for those who are affected):

06/14/19

BANKS GET SCREWED TOO BY NOT FOLLOWING PROCEDURE! Cloudedtitlesblog.com

BANKS GET SCREWED TOO BY NOT FOLLOWING PROCEDURE!
Was it really clerical error or weren’t the attorneys for the bank paying attention to detail?

06/14/19

The Truth about US Bank Living Lies

The Truth about US Bank
Lawyers and pro se litigants continue to ignore the basics when mounting a challenge to foreclosures in which US Bank is asserted to be

06/12/19

No the Mortgages Are Not Securities, But the “Certificates” Do Not Qualify for Exemption As “Mortgaged Backed” Living Lies

No the Mortgages Are Not Securities, But the “Certificates” Do Not Qualify for Exemption As “Mortgaged Backed”
For those straining to find a way to categorize mortgage loans as securities I offer this based upon my licensing, training and experience as a

06/11/19

Veira v PennyMac and JPM Chase 4th DCA Finds What Everyone has Known all along — that PennyMac never has standing and Chase, most of the time, doesn’t have standing Living Lies

Veira v PennyMac and JPM Chase 4th DCA Finds What Everyone has Known all along — that PennyMac never has standing and Chase, most of the time, doesn’t have standing
Another case showing shifting attitudes toward illegal foreclosures. At the trial level there have been many such decisions, some with an expanded finding of fact showing that the foreclosure was a sham.

06/11/19

Veira v PennyMac and JPM Chase 4th DCA Finds What Everyone has Known all along — that PennyMac never has standing and Chase, most of the time, doesn’t have standing Living Lies

Veira v PennyMac and JPM Chase 4th DCA Finds What Everyone has Known all along — that PennyMac never has standing and Chase, most of the time, doesn’t have standing
Another case showing shifting attitudes toward illegal foreclosures. At the trial level there have been many such decisions, some with an expanded finding of fact showing that the foreclosure was a sham.

06/10/19

Ocwen all but drops Ocwen name, will operate as PHH Mortgage and Liberty Home Equity Solutions Housing Wire

Ocwen all but drops Ocwen name, will operate as PHH Mortgage and Liberty Home Equity Solutions
Ocwen Financial announced Monday that it has hit two milestones enabling the company to officially service loans through its two primary brands:

06/10/19

THE C&E, ASSIGNMENTS … AND YOUR RIGHT TO CHALLENGE THEM (PART 2) Cloudedtitlesblog.com

THE C&E, ASSIGNMENTS … AND YOUR RIGHT TO CHALLENGE THEM (PART 2) …
In part 1 of this blog post, we talked about how homeowners were duped by table-funded mortgage brokers and DBA’s (fictitious entities) who claimed they were New York corporations when in fact, they were

06/10/19

Not all courts are ignoring the law. Some are ruling for homeowners based upon basic premises contained in my articles Living Lies

Not all courts are ignoring the law. Some are ruling for homeowners based upon basic premises contained in my articles
Total hat tip to Bill Paatalo There are two takeaways of major significance here.

06/07/19

Finding a Lawyer to Win Foreclosure Cases Living Lies

Finding a Lawyer to Win Foreclosure Cases
No lawyer is an expert in everything. Every case is a learning experience for the lawyer. That includes me despite my extensive background in law and finance.

06/05/19

Right in Front of Our Eyes: Black Knight and U.S. Bank Living Lies

Right in Front of Our Eyes: Black Knight and U.S. Bank
Anyone who knows about foreclosure litigation and securitization of residential debt knows that the only way the banks could succeed is if they had

06/03/19

How the loan was sold multiple times. Living Lies

How the loan was sold multiple times.
THE CLAIM FOR HOMEOWNER ROYALTIES It is like any hedge contract. The buyer of the hedge contract is the investment bank, sometimes working through sham conduits.

06/03/19

FHFA merges GSE issuance to common security in bid to cut housing costs for millions Housing Wire

FHFA merges GSE issuance to common security in bid to cut housing costs for millions
As of Monday, Freddie Mac and Fannie Mae mortgage-backed securities will be issued under a common security – the Uniform MBS – in a move some have called the biggest change to the MBS in a generation.

06/03/19

REITs eye opportunities in the mortgage market as government pulls back Housing Wire

REITs eye opportunities in the mortgage market as government pulls back
Real estate investment trusts have not typically been huge participants in the housing finance market, but it seems the tide is quickly turning.

06/03/19

Fannie Mae and Freddie Mac Launch UMBS DSnews

Fannie Mae and Freddie Mac Launch UMBS
On Monday, Fannie Mae and Freddie Mac marked the completion of their Single Security Initiative with the launch of the Uniform Mortgage-Backed Security (UMBS).

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