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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09/23/22

The Importance of Citizen Activism The American Prospect

The Importance of Citizen Activism
Today on TAP: Foreclosure activist-turned-journalist Lisa Epstein’s work leads to another victory over a predatory company. When I wrote my book Chain of Title in 2016, one of the main subjects was Lisa Epstein, an oncology nurse who fell victim to foreclosure fraud during the collapse of the housing bubble. She fought back in her case, grew obsessed with the shocking machinations of the big banks, quit her nursing job, and became an activist, helping other foreclosure victims and using a blog to detail the extent of foreclosure fraud. In 2010, she was instrumental in helping shut down the entire foreclosure system temporarily.

09/23/22

Here is the magic bullet: It is the one thing that the foreclosure mill doesn’t have — proof of title Living Lies

Here is the magic bullet: It is the one thing that the foreclosure mill doesn’t have — proof of title
“Title” means that legally the person possessing title has the right to treat the subject property as his/her/their own and to use such property in any legal manner. In thumbing through the latest edition of Florida Secretary and perusing the approved forms for use in law practice, it is obvious that one thing is very clear. There is no approved form for the conveyance of a nonexistent asset or an asset that is not owned by the person who claims to be the grantor.

09/22/22

For those “refinancing” transctions, homeowners might literally, morally and legally owe nothing. Living Lies

For those “refinancing” transctions, homeowners might literally, morally and legally owe nothing.
the lawyer representing you might consider forcing the issue and asking whether the claimant is asserting HDC status. Or the lawyer might assert to the judge that the presumptions the lawyer from the foreclosure mill wants the court to use in considering the arguments of the case are the equivalent of treating the claimant as having HDC status. (And if not, why not?)

09/21/22

“Refinancing” Usually Means “No Financing” (except for money paid to homeowner) Living Lies

“Refinancing” Usually Means “No Financing” (except for money paid to homeowner)
The general point of law here is that no amount of paperwork will make a transaction real if there was no money paid. And no amount of arguing to the contrary is legally recognizable or acceptable — unless one simply presumes the transaction was real regardless of whether it happened or not.

09/20/22

Goldman Sachs and Morgan Stanley Have Mysteriously Disappeared from this Week’s Senate and House Banking Hearings Wall Street On Parade

Goldman Sachs and Morgan Stanley Have Mysteriously Disappeared from this Week’s Senate and House Banking Hearings
There are eight Global Systemically Important Banks (G-SIBS) in the U.S. They are: JPMorgan Chase, Citigroup, Bank of America, Goldman Sachs, Bank of New York Mellon, Morgan Stanley, State Street and Wells Fargo. These are the banks that pose the greatest risk to the stability of the U.S. financial system and are monitored under the Federal Reserve’s stress tests.

09/19/22

How to Pitch a Prospective Lawyer to Defend Foreclosure Claims Living Lies

How to Pitch a Prospective Lawyer to Defend Foreclosure Claims
What I have told clients of mine is that when seeking a lawyer who will play ball with us, you should see what pushes their buttons. Still, the main message is that “we know a guy who has won cases all over the country in which Judges ruled that the named claimant never owned any loan account due from the homeowner despite the presence of fabricated documents.”

09/19/22

Is breaking a promise to pay money a sin against an individual or society at large? Living Lies

Is breaking a promise to pay money a sin against an individual or society at large?
The homeowner has committed no sin. If a scheduled payment has been missed, nobody loses any money. And the homeowners who are making the scheduled payments are contributing to the revenue and profits of entities who have obtained the signature, reputation, and property of the homeowners under false pretenses.

09/17/22

Foreclosures are up 187% from a year prior. But it doesn’t mean what you might think. MarketWatch

Foreclosures are up 187% from a year prior. But it doesn’t mean what you might think.
Foreclosure starts — which is when the first public foreclosure notice happens — have reached pre-pandemic levels nationwide, with lenders starting the foreclosure process on 23,952 US properties in August 2022, up 12% from the month prior and up 187% from a year ago according to data from ATTOM, a real estate data company. (You can find the lowest mortgage rates you may get here.) But why are foreclosure rates so much higher right now than they were a year ago?

09/16/22

When the foreclosure mill refiles (after losing or being dismissed) and the Use of an Limited Power of Attorney (LPOA) Living Lies

When the foreclosure mill refiles (after losing or being dismissed) and the Use of an Limited Power of Attorney (LPOA)
Many of the cases are technically “won” by homeowners who successfully point out that at the time the foreclosure commenced, the named claimant (plaintiff/beneficiary) did not have possession or construction possession of the promissory note and therefore had no legal standing to file suit.

09/16/22

AIG Was Brought Down by Derivatives in 2008. It Just Spun Off a Company Whose Prospectus Mentions Derivatives 371 Times Wall Street On Parade

AIG Was Brought Down by Derivatives in 2008. It Just Spun Off a Company Whose Prospectus Mentions Derivatives 371 Times
Yesterday, mainstream media was touting that the largest Initial Public Offering (IPO) of the year, Corebridge Financial, had just finished its first day of trading. The IPO was priced at $21 and closed at $20.73 (ticker: CRBG), not an illustrious start.

09/15/22

JPMorgan Chase, Morgan Stanley and Wells Fargo Flunk a Test Measuring their Support for American Democracy Wall Street On Parade

JPMorgan Chase, Morgan Stanley and Wells Fargo Flunk a Test Measuring their Support for American Democracy
The nonpartisan watchdog group, Accountable.US, has released the results of an investigation into how committed to democracy the 100 largest corporations in America are. The corporations were graded on support for voting rights, the electoral process, and American democracy. The results were provided in an interactive resource called the American Democracy Scorecard.

09/13/22

Cindy Brown News Alert Breaking the Insidious Silence Scott Stafne

Cindy Brown News Alert Breaking the Insidious Silence
Fresh off a California court victory in the Cindy Brown vs. Bank of New York Mellon case, this report showcases the ongoing crisis of inequalities in access to civil justice facing all Americans regardless of income or race and sets the stage for a long-awaited trial court showdown on March 15, 2022.

09/13/22

Homeowners Call for Shutdown of Nationwide Foreclosure Mill Machine! Yahoo Finance

Homeowners Call for Shutdown of Nationwide Foreclosure Mill Machine!
Tue, September 13, 2022 at 1:09 PM·2 min read APON is urging a full DOJ investigation WASHINGTON, Sept. 13, 2022 /PRNewswire/ -- American Property Owners Network (APON) is calling on all Congressmembers and 2022 political candidates to support shutting down foreclosure mill activity—still occurring on a massive scale across the country despite the national mortgage settlements--pending a full Department of Justice (DOJ) investigation.

09/12/22

Fannie Mae Details Latest Sale of Non-Performing Loans DSNews

Fannie Mae Details Latest Sale of Non-Performing Loans
Fannie Mae has announced its latest sale of non-performing loans as part of the company's ongoing effort to reduce the size of its retained mortgage portfolio, including the company's twentieth Community Impact Pool (CIP). CIPs are typically smaller pools of loans that are geographically focused and marketed to encourage participation by non-profit organizations, minority- and women-owned businesses (MWOBs), and smaller investors.

09/12/22

If it isn’t a trust, then what is it? The myth of REMIC trusts Living Lies

If it isn’t a trust, then what is it? The myth of REMIC trusts
Understanding the Financial Industry Through Linguistics: How Applied Linguistics Can Prevent Financial Crisis by Richard C. Robinson and John Doukas I recommend the above book. Like the ancient Greek philosophers, I believe in first defining our terms before entering a discussion. I have consistently reported that so-called REMIC Trusts are neither REMICS nor trusts. The question has been posed to me then —“What do we call them.”

09/09/22

HUD Secretary Marcia Fudge on soaring cost of buying and renting homes PBS

HUD Secretary Marcia Fudge on soaring cost of buying and renting homes
Home prices in the U.S. have risen around 20% year-over-year, making homeownership unaffordable for millions of Americans. A historic housing shortage is causing rental rates to spike, too, and experts say it's unlikely prices will drop significantly any time soon. Marcia Fudge, Secretary of the U.S. Department of Housing and Urban Development, joins Geoff Bennett to discuss.

09/09/22

This isn’t Greek. You can understand it. Living Lies

This isn’t Greek. You can understand it.
From Wikipedia, here is a description of some of the activities surrounding the collapse of LTCM (Long-Term Capital Management in 1998:

09/09/22

Foreclosures in Wake County are surging – up 425% from a year ago WRAL Techwire

Foreclosures in Wake County are surging – up 425% from a year ago
RALEIGH – The total number of foreclosure proceedings in Wake County has increased by 425% since last year, according to the latest data from ATTOM Data Solutions. And that’s a return to pre-COVID pandemic levels. Things could be worse.

09/08/22

After Funneling Trillions of Dollars in Repo Loans to Serial Bank Offenders, Lorie Logan Gets a $440,000 Job Running the Dallas Fed Wall Street On Parade

After Funneling Trillions of Dollars in Repo Loans to Serial Bank Offenders, Lorie Logan Gets a $440,000 Job Running the Dallas Fed
Bailing out the Wall Street megabanks that are serially fined and hit with felony counts appears to be catching on as a major career advancement strategy at the New York Fed.

09/08/22

The Fed Appears to Have Violated the Dodd-Frank Act in the Second Quarter of 2020, Giving $455 Billion in Loans to Citigroup Wall Street On Parade

The Fed Appears to Have Violated the Dodd-Frank Act in the Second Quarter of 2020, Giving $455 Billion in Loans to Citigroup
The Fed would appear to have violated both the spirit and the letter of the Dodd-Frank financial reform legislation in the second quarter of 2020, according to new repo loan data released by the New York Fed for the second quarter of 2020. The data shows

09/08/22

Zero percent mortgages hitting Main Street Fox Business

Zero percent mortgages hitting Main Street
Zero down-payment mortgages and similar programs appear to have recently been gaining traction on Main Street.

09/08/22

Nationwide Foreclosure Starts Hit Pre-Pandemic Levels DSNews

Nationwide Foreclosure Starts Hit Pre-Pandemic Levels
ATTOM has released its August 2022 U.S. Foreclosure Market Report, revealing a total of 34,501 U.S. properties with foreclosure filings —default notices, scheduled auctions, or bank repossessions— up 14% from a month ago, and up 118% from a year ago. Key Findings:

09/08/22

What is a REMIC Trust? Do they exist? Living Lies

What is a REMIC Trust? Do they exist?
A REMIC trust is an acronym for Real Estate Mortgage Investment Trust. The problem, as we shall see here in this article, is that no such entity exists in most cases. That, in turn completely undermines claims by the lawyer representing the foreclosure mill,

09/07/22

House of Debt: Missing document could cost Haywood County woman her dream homeMill WLOS

House of Debt: Missing document could cost Haywood County woman her dream home
HAYWOOD COUNTY, N.C. (WLOS) — "I trusted the system, and the system let me down," said homeowner Susan Harris as she detailed the current court battle she's in to save her Haywood County home. She's warning others to check on an important part of your closing paperwork that she's missing.

09/07/22

Challenging the Lawyers for the Foreclosure Mill Living Lies

Challenging the Lawyers for the Foreclosure Mill
Based upon 16 years of research, an investigation by our company, an investigation by third-party forensic analysts, and an investigation by law enforcement and law markets (see 50 state settlement, for example), it is legally, factually, and axiomatically true that lawyers who initiate foreclosure actions are most likely doing so without the benefit of a client who has a legally recognizable interest in the outcome of the litigation or nonjudicial foreclosure.

09/06/22

How mortgage companies can add revenue certainty in uncertain times Housing Wire

How mortgage companies can add revenue certainty in uncertain times
Fast-rising rates. A staggering drop in mortgage applications. Skyrocketing inflationary costs. Falling stocks and layoffs making headlines for mortgage giants across the industry. The entire mortgage market is in flux like few times in history.

09/02/22

Online portal helps those at risk of eviction, foreclosure Albequerque Journal

Online portal helps those at risk of eviction, foreclosure
The state of New Mexico has created a new online portal to better help people apply for financial assistance if the pandemic put them at risk of eviction from a rental property, or foreclosure on their own homes.

09/02/22

The Strategy of Foreclosure Defense Living Lies

The Strategy of Foreclosure Defense
I recommend against raising an issue that you cannot prove. Specifically, the allegation that there are false claims of securitization of debt broadens the litigation beyond that which the judge is likely to consider.

09/01/22

Foreclosure Fraud: Watch Out for Con Artists Who Make Offers They cannot Fulfill. This includes “servicers” offering modifications. Living Lies

Foreclosure Fraud: Watch Out for Con Artists Who Make Offers They cannot Fulfill. This includes “servicers” offering modifications.
As foreclosure filings and threats spike, so too will the number of fraudulent offerings that guarantee you an outcome, require upfront payment or worse — ask you to deed the property to the kindly person who has “all the answers.” Nobody has all the answers, and nobody can guarantee anything regarding foreclosures, modifications, or settlements. If they say they do have such answers, they are lying.

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