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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02/28/23

How did Wells Fargo, Chase or BofA Get Involved in Your Transaction? It’s a secret! Living Lies

How did Wells Fargo, Chase or BofA Get Involved in Your Transaction? It’s a secret!

So I recently received an inquiry from a homeowner who is a long-term contributor to this blog asking how and why Wells Fargo got involved in her case. From the information that had been disclosed and recorded, Wells Fargo had nothing to do with it. But here were reports from Wells Fargo to investors, including information about her transaction.

02/27/23

TRAPDOOR FOR HOMEOWNERS AND CONSUMERS: lay people and lawyers are not comfortable unless they are trying to prove something Living Lies

TRAPDOOR FOR HOMEOWNERS AND CONSUMERS: lay people and lawyers are not comfortable unless they are trying to prove something

I think that both lay people and lawyers are not comfortable unless they are trying to prove something. But the way to win these cases is the reverse — by not proving anything or saying anything you need to prove. The only thing you want to say when you get the chance is,

02/27/23

CFPB Shuts Down Mortgage Loan Business of RMK Financial for Repeat Offenses Against Military Families CFPB

CFPB Shuts Down Mortgage Loan Business of RMK Financial for Repeat Offenses Against Military Families

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) permanently banned RMK Financial Corporation, which does business as Majestic Home Loans, from the mortgage lending industry by prohibiting RMK from engaging in any mortgage lending activities or receiving remuneration from mortgage lending.

02/24/23

CFPB finalizes update to administrative enforcement proceedings CFPB

CFPB finalizes update to administrative enforcement proceedings

Congress directed the CFPB to enforce a specific set of laws related to consumer financial protection. The CFPB brings the large majority of its contested enforcement matters in federal district court, and it will continue to do so. However, Congress also envisioned that administrative adjudication would play a role at the CFPB, as it had at the CFPB’s predecessor agencies.

02/23/23

CFPB Orders TitleMax to Pay a $10 Million Penalty for Unlawful Title Loans and Overcharging Military Families CFPB

CFPB Orders TitleMax to Pay a $10 Million Penalty for Unlawful Title Loans and Overcharging Military Families

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) took action against a web of corporate entities operating under TMX Finance, broadly known as TitleMax, for violating the financial rights of military families and other consumers in providing auto title loans. The CFPB found that TitleMax violated the Military Lending Act by

02/24/23

How to look and see the documents in mortgage and foreclosure cases Living Lies

How to look and see the documents in mortgage and foreclosure cases

Here is my updated report to a client redacted as to particular facts and dates. I offer it as a model for how I look at these cases and how you can look at documents and arrive at conclusions that differ from what the documents say has occurred.
Keep in mind that all documents are hearsay and are not admissible as evidence without foundation testimony from a human being. That human being must have personal knowledge. The courts unfortunately have allowed testimony of “familiarity” instead of actual knowledge. That seemingly innocuous ruling has facilitated the greatest economic crime in human history.

02/23/23

Discovery and Motion Practice to Defeat False claims for Administration, Collection and Enforcement in Mortgage and Foreclosure Cases. Living Lies

Discovery and Motion Practice to Defeat False claims for Administration, Collection and Enforcement in Mortgage and Foreclosure Cases.

The goal for homeowners should be to win the case, not to delay it or get a settlement. No meaningful settlement will be offered until you have demonstrated that you are in it to win it, which means that you are truly ready to go to trial. Until then, you present no risk to the securitization infrastructure and the case has no meaning or relevance to the opposition.

02/23/23

Bill would move foreclosure notices off print and online Claiborne Progress

Bill would move foreclosure notices off print and online

A bill that would move foreclosure notices from newspapers to a Tennessee Secretary of State website was pushed back two weeks in the Senate State and Local Government Committee. Currently, homes in foreclosure in Tennessee are required to be advertised in a local newspaper. Those notices also appear on the statewide tnpublicnotice.com website. Read more at: https://www.claiborneprogress.net/2023/02/23/bill-would-move-foreclosure-notices-off-print-and-online/

02/23/23

Illinois AG Kwame Raoul, asked to investigate continuing foreclosure fraud by Wells Fargo Bank, N.A. in Kane County, IL STERLING COOPER, INC. - PR DIVISION

Illinois AG Kwame Raoul, asked to investigate continuing foreclosure fraud by Wells Fargo Bank, N.A. in Kane County, IL

llinois Leads the nation in Foreclosures for the fifth month in a row, Kane County Foreclosures are up 525% over the previous year CHICAGO, ILLINOIS, UNITED STATES, February 23, 2023 /EINPresswire.com/ -- Chicago, IL- Geneva, IL Kwame Raoul, the Illinois Attorney General, received a petition/request to stop and investigate continuing violations of the National Mortgage Settlement by Wells Fargo Bank, N.A., and its Trustee business in Kane County as well as Illinois titled: CONTINUED DOCUMENT FALSIFICATION AND FABRICATION RELATING TO MORTGAGE FORECLOSURES BY WELLS FARGO BANK, N.A. IN SPITE OF BILLIONS PAID IN SETTLEMENTS AND AGREEMENTS TO STOP FORECLOSURE FRAUD.

02/22/23

Looking for a lawyer? Ask the right questions and give the right direction. Living Lies

Looking for a lawyer? Ask the right questions and give the right direction.

Foreclosure mills CAN win because they make a claim, and the system gives them relief unless there is a legally recognized defense alleged, presented and pursued. Homeowners are not required to prove anything. They only need to stop their opposition from proving a claim. Homeowners CAN win even if they did breach a loan agreement if the evidence against them is insufficient. In foreclosures today, the evidence is ALWAYS insufficient. Thus homeowners can win every case depite a biased bench.

02/21/23

The Motion to dismiss might be admitting your allegations and you might have missed it. Living Lies

The Motion to dismiss might be admitting your allegations and you might have missed it.

What you need to realize is that this is all about technical law. It is not an argument. It doesn’t matter whether the act was ministerial or could be labeled as anything else. The question is simply whether they did it. Don’t get lost in the weeds. If they did it, then the company that was designated as the “servicer” did not do it. And even if they were working for the company that was designated as the “servicer,” that “servicer” still did not do it.

02/20/23

Two Kinds of Court Orders: We Wrote it and We Mean It. In foreclosure cases they never mean it. Living Lies

Two Kinds of Court Orders: We Wrote it and We Mean It. In foreclosure cases they never mean it.

In one case that I eventually won in 2016, I actually Titled a pleading, “At what point do this Court’s orders mean anything?” After reviewing approximately 10,000 cases starting in 2006, I have arrived at the conclusion that judges are unintentionally or unwittingly being drafted into an illegal scheme. Take some examples:

02/16/23

Talking to a prospective lawyer when neither you nor he or she knows anything about securitization by Wall Street players, double-entry bookkeeping or accounting Living Lies

Talking to a prospective lawyer when neither you nor he or she knows anything about securitization by Wall Street players, double-entry bookkeeping or accounting

Law students are taught only two forms of securitization: (1) divide an asset to sell to multiple investors or (2) divide ownership of the whole asset into multiple shares between investors. They are never taught anything about the dozens of other forms of securitization, most of which form the foundation of current practices. The main applicable form of securitization as it relates to transactions with homeowners neither splits the “asset” (i.e., the unpaid loan account on the ledger of a creditor), nor divides ownership of the entire “asset” into shares for multiple investors. This one fact accounts for nearly all the confusion on the part of lawyers and judges.

02/16/23

Congress Had The Opportunity To Prevent 500,000 Foreclosures In 2009, But Didn’t, A New Report Reveals Forbes

Congress Had The Opportunity To Prevent 500,000 Foreclosures In 2009, But Didn’t, A New Report Reveals

Language to allow bankruptcy judges to reduce mortgage debt on underwater principal residences was included in the version of the “Helping Families Save Their Homes Act of 2009” that passed the House but it was not in the version that the Senate passed and was not in the final version that was signed by President Obama and went into law in May 2009.
A new study, ”How Principal Reduction Through Mortgage ‘Cramdown’ Affects Household Distress,” estimates that roughly 500,000 fewer U.S. homes would have been foreclosed on during the Great Recession if such mortgage “cramdowns” had been allowed in bankruptcy courts from 2008 to 2013.

02/16/23

Failure to Challenge the Identity and Citizenship of the “trust” can be a fatal defect in foreclosure defense narratives Living Lies

Failure to Challenge the Identity and Citizenship of the “trust” can be a fatal defect in foreclosure defense narratives

Who or what is the real party in interest on Plaintiff’s side of the “v.” and what citizenship does that party hold. Despite its best efforts, the Court has not had those simple questions answered, questions that must be answered before any further proceedings or decisions are proper.”)

02/15/23

HEARSAY OBJECTION AND LACK OF FOUNDATION: How Lockbox and Separate Processing Agreements Divert Money and “Servicing” Functions to Undisclosed Third Parties Acting on Behalf of the Investment Bank Who Originated the Transaction with the Homeowner. Living Lies

HEARSAY OBJECTION AND LACK OF FOUNDATION: How Lockbox and Separate Processing Agreements Divert Money and “Servicing” Functions to Undisclosed Third Parties Acting on Behalf of the Investment Bank Who Originated the Transaction with the Homeowner.

From LoanDepot quarterly report, 2022: The Company derives income primarily from gains on the origination and sale of loans to investors, income from loan servicing, and fees charged for settlement services related to the origination and sale of loans. Not one word about revenues or profits arising from the receipt of principal and interest from borrowers. But people who have done business with Loan Depot (and there are thousands of them) all think they borrowed money from Loan Depot. So when they see a document purpotedly endorsed or assigned from Loan Depot, it make sense. But it is a lie.

02/14/23

Attorney suspended for 18 months over rule violations in foreclosure, bankruptcy cases Salem News

Attorney suspended for 18 months over rule violations in foreclosure, bankruptcy cases
LAWRENCE — A Lawrence-based attorney who specialized in representing clients facing foreclosure has been suspended from practicing law for 18 months. Michael M. McArdle was found to have violated multiple professional conduct rules involving client funds, fees and an unusual fee arrangement that did not align with standard approved forms, according to a summary provided by the state’s Board of Bar Overseers.

02/14/23

The physical location of that address is probably a vacant lot or storage unit Living Lies

The physical location of that address is probably a vacant lot or storage unit
You think you sent it to XYZ, that it was received and processed by XYZ and XYZ issued that response. This is virtually NEVER true. In May 2022 the CFPB categorized FINTECH companies as servicers precisely because of what I described above. Did anyone take notice? No. “Defendants’ deceptive business practices caused many of these Nevada foreclosures to proceed under false pretenses.”

02/13/23

FNMA Retention Agreement, FNMA ID Concealed Rorie Woods

FNMA Retention Agreement, FNMA ID Concealed
I claim no credit here, I did not write the letter nor analysis; research done by others and posted by me as a public service.

02/13/23

Another Example of LSF9 and McCarthy and Holthus going down in flames Living Lies

Another Example of LSF9 and McCarthy and Holthus going down in flames
Standing is established when the party pursuing foreclosure can “demonstrate that it had the right to enforce the note and the right to foreclose the mortgage at the time the foreclosure suit was filed.”

02/10/23

How Foreclosure Mills Win by Misusing “Judicial Notice” Living Lies

How Foreclosure Mills Win by Misusing “Judicial Notice”
Judicial Notice is a rule of evidence in which the court receives a written request to accept a document into evidence as proof of the truth of the matter asserted. In Foreclosures, the truth of the matter asserted is that there is an unpaid loan account, and the named plaintiff or beneficiary has the right to administer, collect and enforce it. If that is alleged in a form that is allowed by law, and proven in the manner allowed by law, the foreclosure will be granted. I might add, that it should be granted to the extent that there is still an unpaid balance due to the named Plaintiff or beneficiary. But in nearly all foreclosure cases, this is NOT the true fact scenario. There are circumstances where the trial court either MUST accept a document as evidence or in which the court can accept the document as evidence as to its existence. But unless there is an objection, the court will also presume that what is contained in the document is also true.

02/10/23

Successfully Fighting Foreclosures Requires The Strategies Most Foreclosure Defense Attorneys Get Wrong Or Don’t Even Bother Pursuing MFI-Miami

Successfully Fighting Foreclosures Requires The Strategies Most Foreclosure Defense Attorneys Get Wrong Or Don’t Even Bother Pursuing
Homeowners are successfully fighting foreclosures in record numbers since the housing collapse in 2008. Why? Homeowners are realizing they can successfully fight foreclosure actions brought on by unscrupulous mortgage servicers. Or in a worse case, fight the lender to a standstill and negotiate great deals. Why?
MFI-Miami and our law firms have busted mortgage servicers doing shady business time and time again. We have busted them for predatory lending practices and mortgage loan fraud. In addition, we have also busted them for unfair and deceptive lending practices. This also includes modifications. As a result, homeowners have endure months and years of emotionally draining foreclosure litigation.
There is nothing more shocking than learning that you are losing your home through no fault of your own. Unfortunately, most foreclosure defense lawyers and their so-called experts fail understand the tools at their disposal.
Fighting Foreclosures Takes A Team Of Mortgage Experts And The Right Attorneys MFI-Miami and our network of attorneys may be able to help. The MFI-Miami team has over 75 year combined experience in mortgage lending. As a result, attorneys use our investigations and our experience to determine whether your lender violated any of the state or federal regulations.

02/10/23

Mortgages — Compound interest — Course of dealing Michigan Lawyers Weekly

Mortgages — Compound interest — Course of dealing
Where a judge concluded that a 12% mortgage interest rate was compound rather than simple, that conclusion should be upheld because the parties implicitly agreed to compound interest through their established course of dealing.

02/09/23

American Dream For Rent: Crisis opened door to corporate buying spree Atlanta Journal-Constitution

American Dream For Rent: Crisis opened door to corporate buying spree
Investment firms elbow out individual buyers for single-family homes in metro Atlanta. The housing crisis set the stage for the modern single-family rental industry. More than six million Americans lost their homes to foreclosure during the Great Recession, and Atlanta was hit especially hard. More than 100,000 metro Atlanta homes entered foreclosure each year from 2009 through 2012.

02/09/23

U.S. Foreclosure Activity In January 2023 Continues To Increase Annually For 21 Consecutive Months Attom Data

U.S. Foreclosure Activity In January 2023 Continues To Increase Annually For 21 Consecutive Months
IRVINE, Calif. — February 9, 2023 — ATTOM, a leading curator of land, property, and real estate data, today released its January 2023 U.S. Foreclosure Market Report, which shows there were a total of 31,557 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 36 percent from a year ago, and up 2 percent from the prior month.

02/09/23

VT Supreme Court Asserts Value Must be Given and No Security Interest Attached to the Presumed Account Living Lies

VT Supreme Court Asserts Value Must be Given and No Security Interest Attached to the Presumed Account
This dispute is governed by Article 9 of the Vermont UCC, which covers secured transactions. Article 9 provides that a creditor has a secured interest in collateral when the interest attaches, meaning “when it becomes enforceable against the debtor with respect to the collateral.” 9A V.S.A. § 9-203(a). In general, a security interest becomes enforceable against the debtor when “value has been given,”

02/08/23

PA Supremes Hold that Aiding and Abetting a Fraud is a Separate Recognizable Tort Claim Living Lies

PA Supremes Hold that Aiding and Abetting a Fraud is a Separate Recognizable Tort Claim
we hold Pennsylvania law recognizes the tort of aiding and abetting fraud, and the scienter requirement for this cause of action is actual knowledge of the underlying fraud. Consequently, the decision of the Superior Court is affirmed in part and reversed in part. The case is remanded to the trial court for a new trial consistent with this opinion. Jurisdiction is relinquished. Marion v. Bryn Mawr Tr. Co., 72 MAP 2021, at *28 (Pa. Jan. 19, 2023)

02/08/23

HUD Secretary Announces Major Milestone of Assisting Nearly 2 Million Homeowners Stay in their Homes FHA foreclosure avoidance options have been expanded and extended HUD

HUD Secretary Announces Major Milestone of Assisting Nearly 2 Million Homeowners Stay in their Homes FHA foreclosure avoidance options have been expanded and extended
WASHINGTON - Today, the U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge announced that, thanks to Federal Housing Administration (FHA) programs, approximately 2 million homeowners with FHA mortgages were able to stay in their homes from the beginning of the COVID-19 pandemic in March 2020 through December 2022 – when doing so was often a matter of life and death.

02/7/23

Sjc 16 l 1675812434654 Debra Brown on FNMA Rorie Woods

Sjc 16 l 1675812434654 Debra Brown on FNMA
request for referral to BBO Attorneys representing FNMA who fail to disclose same, filing claims for possession in the names of loan servicers, must be disbarred. A true party in interest may not be concealed. Only real parties in interest can sue or be sued. Attorneys have a duty for candor to the tribunal. Property cannot be taken without due process of law. See FNMA engagement letter, p. 52.

02/07/23

NCLC reverse mortgage report highlights servicing issues Reverse Mortgage Daily

NCLC reverse mortgage report highlights servicing issues
RMD spoke with chief author of the report, Sarah Bolling Mancini, to learn its findings and policy recommendations It’s important for seniors to have access to liquidity in retirement. However, issues stemming from servicing and a lack of loss mitigation options have prevented the reverse mortgage product from fulfilling its potential — and have led to reverse mortgages ending in foreclosure more often than they should, according to a report published by the National Consumer Law Center (NCLC).

02/07/23

Helping homeowners: California expands mortgage relief Calmatters

Helping homeowners: California expands mortgage relief
The state is expanding mortgage relief to more California homeowners who are struggling through the pandemic. The program now covers second mortgages and loan deferrals, with a maximum total grant of $80,000.

02/07/23

How the FHA's changes will transform foreclosure alternatives National Mortgage News

How the FHA's changes will transform foreclosure alternatives
The upcoming changes to the Federal Housing Administration's options for distressed mortgage borrowers reveal how the pandemic has permanently reshaped the way loss mitigation is handled. The changes at the FHA, which go into effect April 30, incorporate consumer and servicer feedback related to how pandemic foreclosure alternatives worked in practice. A continued review of their effectiveness will take place for the next 18 months.

02/07/23

CT Supremes Slam Bank of New York Mellon and Clarify Law in Favor of Homeowners Living Lies

CT Supremes Slam Bank of New York Mellon and Clarify Law in Favor of Homeowners
The named defendant’s petition for certification to appeal from the Appellate Court, 202 Conn. App. 540, 246 A.3d 4 (AC 40959), is granted, limited to the following issues:

02/06/23

Lawyers Are Starting to take Foreclosure Defense Cases Living Lies

Lawyers Are Starting to take Foreclosure Defense Cases
I have a limited roster of lawyers willing to consider engagement to defend foreclosure cases to win them, not just settle or modify then “loan.” I have agreed to triage the cases before referring them. Submit your complete and accurate information by submitting our registration form without any cost or obligation. The information will only be shared with a prospective referral attorney.

02/03/23

What are MSRs and why are they valued at $20 Billion? Living Lies

What are MSRs and why are they valued at $20 Billion?
MSRs are an abbrevation for a false label: Mortgage Servicing Rights. These rights are claimed by companies who perform no servicing functions and receive no paymetns from homeowners nor do they make any distributions to creditors. They are in it for the foreclosure, not the accounting and administration.

02/03/23

Foreclosure settlement program serves New Mexico ABQ Journal

Foreclosure settlement program serves New Mexico
The Second Judicial District Court serves the community in many ways including connecting citizens to resources to assist keeping them in their homes where they can stay, remain united as a family and continue to be productive members of society. Simply put, the courts want to help, not disrupt, the lives of everyone.

02/03/23

Is the housing market about to crash? Here’s what experts say Yahoo Finance

Is the housing market about to crash? Here’s what experts say
After a record-breaking run that saw mortgage rates plunge to all-time lows and home prices soar to new highs, the U.S. housing market is finally slowing. Home sales had declined for 11 consecutive months as of December 2022, and home values seem to have peaked.

02/03/23

Home Title Theft: How To Protect Yourself NASDAQ

Home Title Theft: How To Protect Yourself
When most people think of home theft, they picture a burglar breaking into a house through a window or door. However, there’s another form of home theft that is on the rise and often goes undetected: title theft.
What Is Home Title Theft? Home title theft is a type of real estate fraud

02/02/23

The irrefutable logic at the foundation of all successful foreclosure defense narratives Living Lies

The irrefutable logic at the foundation of all successful foreclosure defense narratives
The mortgage lien is designed to protect against financial loss — not to promote financial gain. If Wall Street wants to protect the financial gains it created from its crazy scheme using weapons of mass financial destruction, then the least it should do is share a little of that with homeowners, consumers, the government, and investors.

02/02/23

Home Equity Flattens Out Across U.S. In Fourth Quarter Of 2022 Attom Data

Home Equity Flattens Out Across U.S. In Fourth Quarter Of 2022
IRVINE, Calif. — Feb. 2, 2023 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its fourth-quarter 2022 U.S. Home Equity & Underwater Report, which shows that 48 percent of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50 percent of their estimated market values.

02/02/23

CFPB Updates Mortgage Servicing Exam Procedures National Law Review

CFPB Updates Mortgage Servicing Exam Procedures
On January 18, 2023, the Consumer Financial Protection Bureau (CFPB) released an updated version of its Mortgage Servicing Examination Manual. As the CFPB described in a corresponding blog post, the manual outlines

02/01/23

MLK: Can democracy work without knowledge and competency? Living Lies

MLK: Can democracy work without knowledge and competency?
public officials are the only professionals in our society who (a) don’t need to be certified for knowledge, competence and character and (b) don’t need to maintain their education about legislation and law enforcement.

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