Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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09/30/19

Foreclosure defense attorney Mark Stopa permanently disbarred
TALLAHASSEE - The Florida Supreme Court has permanently disbarred Pinellas County lawyer Mark Stopa, once among the state’s best-known foreclosure defense attorneys.

09/30/19

Fannie, Freddie will retain $45B in capital in first step toward privatization
WASHINGTON—Mortgage giants Fannie Mae and Freddie Mac will be permitted to retain a combined $45 billion worth of earnings, the Federal Housing Finance Agency announced Monday, after holding only small capital cushions of $3 billion each for seven years.

09/26/19

A Home Stolen (in 15 minutes)
It’s not surprising that the mainstream media has ignored the on-going repercussions of the foreclosure crisis; that apocalyptic displacement of millions of homeowners following the 2008 meltdown. It’s not surprising that there seems to be no acknowledgement among the current stable of Democratic Presidential hopefuls — with the notable exception of Bernie Sanders — that justice delayed is justice denied.

09/25/19

Rescission and Burden of Proof
There are winners and losers in every courtroom. When dealing with TILA Rescission under 15 USC §1635 you must go the extra mile in not merely showing the court why you should win, but also revealing that

09/24/19

About that “original note”
Edward Hyne, Nationstar’s Rule 30(b)(6) witness refers to the practice as “preparing indorsement pages”. This is a partial transcript of the deposition. The case was set for trial Monday October 22, 2018:

09/23/19

Who is the Plaintiff? US Bank or the Trust?
The game is that they are doing everything they can to direct attention to the name of the trustee, which is banking institution instead of the trust which is the actual named Plaintiff or Beneficiary.

09/19/19

Where Legal Fiction Triumphs Over Fact and Money
This is perfect example of what I have been talking about. The article raises legal points that are entirely correct. But it begs the question — who actually owned the debt by virtue of having paid money for it?

09/18/19

Trump just asked the Supreme Court to let him fire the CFPB’s head. The implications are enormous.
On Tuesday, the Trump administration asked the Supreme Court to hear a lawsuit challenging the leadership structure of the Consumer Financial Protection Bureau (CFPB) — taking the same side as the people suing the government in a major constitutional dispute.

09/18/19

NCLC Attorney Statement Regarding Challenge to Constitutionality of Consumer Financial Protection Bureau Leadership Structure
Washington, D.C. – Late yesterday, the Consumer Financial Protection Bureau joined an appeal by the Trump Administration to the U.S. Supreme Court asserting that the agency’s independent leadership structure is a violation of the U.S. Constitution’s separation of powers.

09/18/19

CFPB: Public consumer complaint database is here to stay
The Consumer Financial Protection Bureau announced Wednesday the controversial public Consumer Complaint Database is here to stay.

09/18/19

RETURN TO CAPITALISM: Don’t Abandon It —The Problem is Fear
Most people have become so fearful that things can only get worse that they are clinging to any vestige of normalcy in their lives, hoping it will last just a little while longer. Here is the truth:

09/18/19

USURY: Exemptions and Privileges May Be Erased for Bundled Loans
I frankly never thought the topic would ever be taken seriously. But here we are. Many loans have extra privileges and rights that accrue to the lender. Usurious rates may be charged as long as its a bank.

09/17/19

CFPB’s Kraninger agrees: Her job security is unconstitutional
Kathy Kraninger, the director of the Consumer Financial Protection Bureau, gave more support Tuesday to the Trump administration's position that the agency she runs exceeds constitutional limits

09/17/19

Getting the Judge to See Things Your Way Isn’t Easy
I have received many comments and questions about my article yesterday. Here is one response I wrote to one reader and client.

09/16/19

Appraisal Fraud Changes the Real Terms of Borrowing: Black Knight Controls VA Appraisals
Bad appraisals lie at the heart of the profit seeking bank plan which they called securitization. Since they were making money not from interest, but from fees and other trading profit and bonuses, the basic premise

09/16/19

THE REAL REASON THE REMIC WANTS YOUR HOUSE …
I wonder if you can actually put a figure to what you’ve been paying attorney(s) to defend your foreclosure, thinking the REMIC is just going to roll over and play dead and you’re going to get a free house.

09/13/19

Who’s on First? Trustee vs Trust v Smoke and Mirrors
Don’t get lost in the weeds. In a normal trust situation the trust is the entity that owns the assets that were entrusted to the trustee. Of course any Trust or

09/12/19

THINKING ABOUT GETTING A SECURITIZATION AUDIT? YOU NEED TO READ THIS!
The Consumer Financial Protection Bureau (“CFPB”) has all but wiped out Certified Forensic Loan Auditors in California in the filing of a Complaint for Permanent and Injunctive Relief:

09/12/19

Trump administration working to end Fannie/Freddie profit sweep in September
Department of the Treasury Secretary Steven Mnuchin said the administration is currently looking to end the profit sweep of Fannie Mae and Freddie Mac.

09/11/19

Trump tells “boneheads” at Fed to cut interest rates below 0%
In a Twitter rant Wednesday, President Donald Trump said the Federal Reserve should cut interest rates down to zero, or lower.

09/11/19

In Memory of Those Who Died
I have recently received reminders of the people who died and the criminal investigations that were gutted despite the obvious evidence of the largest economic crime in human history. I pass this on as a reminder that the fraud continues and as a caution to those who think that the worst has happened. They got away with it. The worst is going to happen — unless we intervene.

09/11/19

CFLA Responds to CFPB Federal Lawsuit That Seeks to Censor CFLA and to Protect the Big Banks
Los Angeles, Sep 11, 2019 (Issuewire.com) - For immediate release: Certified Forensic Loan Auditors, LLC [hereinafter CFLA] is aware of the Consumer Financial Protection Bureau's [hereinafter CFPB] filing of an injunction against CFLA

09/10/19

Don’t Admit Anything About the Servicers Either — It’s All a Lie
Want to know why this site is called LivingLies? Read on Homeowners often challenged the authority of the named claimant while skipping over the actual party who is supporting the claim — the alleged servicer. You might also want to challenge or at least question their authority to be a servicer. The fact that someone appointed them to be a servicer does not make them a servicer.

09/10/19

Wells Fargo is Making Big Money off of Loans That Got Them in Trouble
Wells Fargo recently reported that it made a lot of money off of the same kind of loan product that in part helped decimate the economy, got the bank in legal trouble, and drove consumers into foreclosure

09/09/19

Banks Often Forget to Show Documents Were Actually Mailed to Homeowners
A mortgage and a mortgage loan (sometimes called a promissory note) are both nothing more than contracts, even though there may be slightly different rules that apply to both of them. In order to foreclose the bank has to follow the exact rules and requirements of the terms of those contracts that it made with the borrower.

09/09/19

Improperly Named Trustee on Deed of Trust Can be Liable for Actions on Behalf of Non-Beneficary
Hat tip to Scott Staffne
See Washington_Court_grants_summary_judgment
I have long expressed the belief that the courts had it all wrong when they, along with legislative attempts, decided that when parties are named as trustees they are not responsible for their actions. That is and was always nuts.

09/06/19

Here’s the Proof the Federal Government Is Overtly Lying to the Public about Wall Street’s Derivatives
Based on every meaningful investigation into the epic financial crash of 2008 that resulted in the worst economic crisis in the U.S. since the Great Depression, derivatives that were concentrated at Wall Street’s largest banks played a central role in the crisis.

09/06/19

Consumer Financial Protection Bureau Files Suit against Certified Forensic Loan Auditors, Andrew Lehman, and Michael Carrigan, and Proposed Settlement with Carrigan
Washington, D.C. — Today the Consumer Financial Protection Bureau (Bureau) filed a complaint in federal court in the Central District of California against Certified Forensic Loan Auditors, LLC (CFLA), Andrew Lehman (Lehman), and Michael Carrigan (Carrigan).

09/06/19

How to Use Stonewalling Against the Banks in Discovery Phase of Litigation.
Yes, you can use discovery to win the case before it gets to trial. No, that won’t happen just because you asked. You must follow the rules of civil procedure for that to happen.

09/06/19

Housing industry rallies around Trump’s GSE reform plan
Today marks the 11th anniversary of the government takeover of the mortgage giants Fannie Mae and Freddie Mac.

09/06/19

Trump Plan For Home Loans Rattles Watchdogs
At its heart, the new Trump administration plan for the home loan market aims to change the rules for the mortgage giants Fannie Mae and Freddie Mac.

09/03/19

The surprising ways foreclosures make housing-market downturns even worse
Foreclosures caused by a burst housing bubble have many long-term consequences for the housing market. Researchers have an unusual suggestion for how government officials can counteract the bad effects of a housing bubble. A new working paper authored by researchers at Boston University and Stanford University investigates the ways in which foreclosures exacerbate a housing bust and reduce prices for non-distressed homes. The researchers also investigated foreclosure mitigation approaches and proposed a novel way through which government officials could stem the onset of future housing downturns.

09/03/19

The Compounding Effects of Void Court Decisions That Are Contrary to Timely TILA Rescissions Sent Pursuant to 15 U.S.C. §1635 and 12 C.F.R. §226.23 — for public review and comment
In 1968 the Federal Truth In Lending Act was enacted and signed into law in order to establish enforceable laws and regulations to promote the informed use of consumer credit.

09/02/19

The Law of Rescission Under the Truth in Lending Act (TILA)
TILA Rescission is the law of the land. It is governed by Federal Statute 15 USC §1635 and Federal Regulation (12 CFR § 226.23) each of which have preemptive rights over state law.

09/01/19

Protect the interests of Main Street by passing the Stop Wall Street Looting Act: Richard Cordray
In a guest column today, Cordray, the first head of the federal Consumer Financial Protection Bureau, writes that a recently introduced bill to crack down on private-equity takeovers aims to end the unnecessary closure of retail outlets and other firms.

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