Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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09/30/20

Areas at Highest Risk of a Foreclosure Surge
Americans could face as many as 1.4 million foreclosures if homeowners remain unable to make their mortgage payments. That is according to a recent report from Realtor.com.

09/30/20

Thousands of Homeowners Win Against the Banks: Here is Why You Never Hear About It
You made all that revenue possible by signing a note and mortgage in favor of someone who was not lending you any money. Nobody told you about that. And nobody told you that you were not entering a transaction in which there was a lender and borrower. There was only a borrower.

09/29/20

Watch that modification agreement. You are being forced to accept a virtual creditor instead of a real one.
The proposed modification agreement is an attempt to force or coerce the borrower into accepting a NEW term of the loan agreement that any attorney would advise against, to wit: acceptance of a designated creditor instead of a real one.

09/28/20

Another Homeowner Victory In Hawaii! Gary Dubin, Attorney
US Bank v Compton 9335344481 Hawaii 2020 Dubin So here is yet another example of litigation done correctly. This case demonstrates that the courts can and will be convinced to rule in favor of homeowners when the correct issue is raised at the right time in the right way. Here are some quotes from the case:

09/25/20

The General Rule as to Loss Mitigation Applications, the New Exception, and Why It Was Issued
A new CFPB interim final rule amending RESPA Regulation X, found at 12 C.F.R. § 1024.41(c)(2)(v) has the practical effect of providing new rights to homeowners exiting a mortgage loan forbearance related to the COVID-19 pandemic.

09/22/20

FORECLOSURE “JUSTICE”? … A DAY OF RECKONING
The lack of trust in America’s justice system … Anyone who has kept a pulse on the tide of foreclosures that swept through America between 2009 and 2015 can easily understand where the mindset the author is about to describe is coming from. Sadly, if you’ve ever been to a “rocket docket” in Miami-Dade County, Florida, you know exactly WHY folks have little faith in the justice system.

09/22/20

Why Homeowners Should Win Foreclosure Cases:
…the question becomes less about why the homeowner should get a free house and more about whether a free house is enough compensation for the unknown risks assumed by borrowers and for their role in starting each securitization process. “

09/22/20

Are Complaints About Court Bias Merely Excuses for Poorly Executed Litigation?
Recently I received a series of emails from someone I highly respect for her persistence and accuracy of research on securitization. She is fighting her own case. And she believes that all

09/22/20

DO YOU HAVE SELECT PORTFOLIO SERVICING AS A SERVICER? READ THIS!
Frankly, this is one of the better lawsuits I’ve seen filed. A great example of good lawyering … now let’s hope it goes somewhere besides File 13. Fleming v SPS Inc, U.S. N.D. ILL No 1-19-cv-08487 (Dec 30, 2019)

09/21/20

NO MATTER THE ELECTION OUTCOME, FORECLOSURES WILL PROCEED
And the political bashing and infighting continues the closer we get to November 3, 2020. No matter. The stage has been set for a potential financial meltdown, similar to what we saw in 2008

09/21/20

Concealed Side Agreements Should be the Target of Discovery Demands by Homeowners
Would you entrust all your money to some thinly capitalized company who wanted total control over all your assets? No you wouldn’t and neither does any bank in an industry that virtually define security and control.

09/21/20

SWAPS: The Devil in the Details
Paul Volcker, former Fed Chairman said these derivative instruments would destroy us. We persist in allowing them to exist, to be created, traded, sold and misrepresented as deriving their value from a loan, debt, note or mortgage.

09/21/20

3-Count Felon, JPMorgan Chase, Caught Laundering More Dirty Money
The International Consortium of Investigative Journalists (ICIJ) has once again managed to do what federal bank regulators refuse to do in the United States – come clean with the American people about our dirty Wall Street banks.

09/17/20

Million mortgage borrowers fall through coronavirus safety net
WASHINGTON—About one million homeowners have fallen through the safety net Congress set up early in the coronavirus pandemic to protect borrowers from losing their homes, according to industry data, potentially leaving them vulnerable to foreclosure and eviction. Homeowners with federally guaranteed mortgages can skip monthly payments for up to a year without penalty and make them up later.

09/16/20

Wells Fargo Wreaks Havoc in Borrowers’ Bankruptcy Cases by Filing False Mortgage Forbearance Notices
filed a nationwide class action against Wells Fargo Bank, N.A. alleging that Wells Fargo has, without its customers’ authorization or knowledge, filed notices with bankruptcy courts around the United States that falsely assert that borrowers in Chapter 13 bankruptcy requested and received a temporary CARES Act forbearance of their mortgage payment obligations after the allegedly forborne mortgage payments had been made.

09/16/20

How Foreclosure Defense Lawyers Come Under Fire. The Case of Gary Dubin, Esq.
While I have come under heavy fire, it has generally been by uninformed paid trolls on the internet. Nothing bad actually happened to me. That might be because of my relatively high profile.

09/16/20

Fake Sales, Fake Accounts, False Claims and Fake Foreclosures: REMIC Trust does not own,control or get any money from your loan
The problem with court decisions like Am. Fid. Assurance Co. v. Bank of N.Y. Mellon, No. 18-6210 (10th Cir. July 7, 2020) is the same as with most decisions, to wit: They are assuming that there was an actual sale of loans to the trust. In fact,

09/15/20

How White-Collar Criminals Get Away With It
Current laws target low-level employees and let the worst offenders off the hook.

09/15/20

For those who think I am just guessing or theorizing take a look at a real agreement that is actually in use and concealed from the public.
Note how easy it is to skip over the initial paragraph which defines the context of the entire agreement. it is predicated in an event in the future. All representations, warranties, duties and obligations arise only if

09/12/20

Citigroup Was Having a Helluva Bad Year – Now a Citi Senior VP Has Been Outed as the Man Behind a QAnon Conspiracy Website
So far this year, the mega Wall Street bank, Citigroup, has lost 37 percent of its market value – outpacing peer banks like Morgan Stanley, Goldman Sachs, JPMorgan Chase and Bank of America. (See chart below.)

09/11/20

Multiple Choice Plaintiffs Means That Foreclosure Mills Do Not and Cannot Represent the Named Claimant
“the servicer is in exactly the same position as the supposed attorney. It has no operative relationship with the named plaintiff because the named plaintiff has no claim.“

09/11/20

Trump and Barr Unleash a “Lawfare” Assault on Democracy
I write primarily wearing my criminology and law “hats.” I study elite white-collar crime and corruption and I fought both pathologies as a (real) financial regulator. I helped train regulators and anti-corruption officials in Iceland, Ecuador, India, and Asia, so I also have substantial international experience. “Lawfare” is a word few Americans understand, but people in each of the other countries I mentioned have bitter experience with the pathology.

09/11/20

Should Massachusetts extend its eviction moratorium for another year?
Read two views and vote in our online poll

09/10/20

The Attitude With Arnie Arnesen, Sept. 10, 2020
Part 1: We speak with Marc Dann, the former Attorney General of Ohio about the consequences of financial crimes.

09/10/20

2020 FORECLOSURES BACK IN FULL SWING!
The state bar associations are starting to find themselves in a real dilemma. Three states (Washington, Utah and Arizona) have already initiated non-lawyer “paraprofessional” objectives to allow more folks to have access to the justice system.

09/09/20

Attorney Gary Dubin disbarred by order of the Hawaii Supreme Court
A unanimous Hawaii Supreme Court voted yesterday to issue an “Order of Disbarment,” effectively ending the long legal career of Honolulu attorney Gary Victor Dubin. Dubin, 81, has been practicing law in Hawaii since 1982.

09/09/20

The Fed Does Not Ride to the Rescue of Wall Street Yesterday: What’s Up?
The Dow Jones Industrial Average closed with a loss of 632 points yesterday (a 2.25 percent decline) while the Nasdaq erased 465 points for a loss of 4.11 percent. As Wall Street witnessed its most vicious correction since March

09/09/20

Loan Originators Posted Record Profits in Q2
While servicing income was down, independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks had a very profitable second quarter.

09/08/20

COVID-19 Evictions and Foreclosures Update: Massachusetts – 9/8/2020
The state moratorium on residential evictions, certain residential foreclosures, and certain commercial evictions (Chapter 65 of the Acts of 2020) remains in effect through October 17, 2020.

09/08/20

Intercontinental Exchange Completes Ellie Mae Acquisition
Intercontinental Exchange, an operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services, received regulatory approval and fully completed its $11 billion acquisition of Ellie Mae from leading private equity firm Thoma Bravo.

09/08/20

HUD Guts Civil Rights Rule Used to Address Systemic Discrimination in the Housing Market on the Dawn of an Eviction and Foreclosure Crisis
National Consumer Law Center Advocates Urge HUD to Reverse Course and Restore Key Civil Rights Protections

09/08/20

Loan Performance Has ‘Progressively Weakened’
Analytics provider CoreLogic today released its monthly Loan Performance Insights Report for June. It showed that, nationwide, 7.1% of mortgages were in some stage of delinquency.

09/07/20

Smoke and Mirrors: How the Import-Export Bank Mirrors the Business Model of Securitization Schemes. “Holographic image of an empty paper bag.”
The condition precedent to enforcement of a mortgage is payment of value for the underlying debt. Homeowners have not and do not waive that provision. Allowing the foreclosure to proceed is rubber stamping a Ponzi scheme.

09/04/20

BROWN, WARREN, VAN HOLLEN, MENENDEZ, AND REED PROBE CFPB’S FAILURE TO ALERT BORROWERS TO MORTGAGE RELIEF OPTIONS DURING PANDEMIC
Surveys Show Significant Amount of Eligible Borrowers are Not Aware of Mortgage Relief Options, with Even Larger Gaps Among Black and Hispanic Borrowers

09/03/20

JPMorgan Chase’s Scheme To Steal Washington Mutual Mortgages Is Not Conjecture, It Can Be Proven.
After a decade of accumulating evidence involving “loans” originated and securitized by Washington Mutual Bank (WMB), the following points are now supported and can be proven with evidence:

• The mortgages, deeds, and notes were never sold and transferred. Rather, there was the intent to have securitized the debts per the certificates without any documentation perfecting any interests in the alleged underlying assets.
• No schedule of loans exists, or has ever been produced, identifying any specific WMB loan having been acquired by JPMorgan Chase via the Purchase & Assumption Agreement (PAA).
• The FDIC now has its own databases identifying what WMB loans, if any, were in fact acquired and sold through the Receivership and the PAA. These databases have yet to provide any records for any WMB loan, or any responsive documents to show the servicing rights of any WMB loan having been sold to Chase.
• The FDIC deemed all securitized loans sold by WMB prior to the Receivership as “isolated assets” outside of its reach. As such, the FDIC could not sell that which it never owned or acquired.
• WMB admitted and disclosed as a business practice that no assignments would be prepared or recorded, and no endorsements would be placed upon the notes it was purporting to sell. This was deemed an “Unsafe & Unsound” business practice.
• As outlined below, WMB admitted that is was going to “commingle collections on the mortgage loans with its own funds and may use the commingled funds for its own benefit.” (Per the FFIEC, this appears to be a tacit admission of “Mortgage Servicing Fraud.”)

09/03/20

The Detection and Deterrence of Mortgage Fraud Against Financial Institutions: A White Paper
Produced by the July 13 – 24, 2009 FFIEC Fraud Investigations Symposium The Detection and Deterrence of Mortgage Fraud Against Financial Institutions

09/01/20

Fed’s mortgage-buying spree at $1 trillion with no end in sight
The Federal Reserve has snapped up $1 trillion of mortgage bonds since March, a record pace of purchasing, as the U.S. central bank tries to blunt the impact of the COVID-19 recession on American homeowners.

09/01/20

Temporary Halt in Residential Evictions to Prevent the Further Spread of COVID-19
The Centers for Disease Control and Prevention (CDC), located within the Department of Health and Human Services (HHS) announces the issuance of an Order under

09/01/20

Mortgage Relief Homeowners Affected Covid-19 Updated 090120
The COVID-19 pandemic has made it harder for millions of homeowners to pay their mortgages. To reduce the risk of widespread foreclosures, Congress passed the

09/03/20

The Fed Provides an Unlimited Money Lifeline to Wall Street; 30 Million Americans Facing Eviction Get a No-Money 4-Month Plan
Happy New Year – here’s your eviction notice. That’s how tens of millions of struggling Americans have been set up to fail as the one percent on Wall Street, propped up by unlimited money from the Fed,

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