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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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06/02/23

Disgraced Silvergate Bank Hints It May Not Be Able to Cover All of Its Deposits; Fed Slaps It with a Cease and Desist Consent Order Wall Street On Parade

Disgraced Silvergate Bank Hints It May Not Be Able to Cover All of Its Deposits; Fed Slaps It with a Cease and Desist Consent Order

Last week, on Tuesday, May 23, the Federal Reserve and California Department of Financial Protection and Innovation (the state banking regulator) hit the collapsed federally-insured bank, Silvergate Bank, and its parent, Silvergate Capital Corporation, with an enforcement action called a “Cease and Desist Consent Order.” The action was not announced to the public until yesterday.
A Consent Order is meant to function along the lines of a legal settlement, with the bank agreeing to the detailed terms of the Consent Order and waiving its right to judicial review. The individual signing the Consent Order on behalf of the bank was its controversial CEO, Alan Lane, who had allowed his federally-insured bank to get in bed with Sam Bankman-Fried’s house of frauds, including the FTX crypto exchange and Bankman-Fried’s hedge fund, Alameda Research. Lane also had allowed his deposit base to become heavily involved with other crypto-related companies.

06/01/23

Nonprofit Alliance of Consumer Advocates Steps in to Prevent Foreclosure on Elizabeth Siliezar's Home NonProfit Alliance of Consumer Advocates

Nonprofit Alliance of Consumer Advocates Steps in to Prevent Foreclosure on Elizabeth Siliezar's Home

OAKLEY, CA, USA, June 1, 2023/EINPresswire.com/ -- In a heartwarming turn of events, Elizabeth Siliezar, a resident of Oakley, CA, has been spared from the devastating consequences of foreclosure, thanks to the relentless efforts of the Nonprofit Alliance of Consumer Advocates. Facing financial hardship after her husband abandoned her and struggling to raise her grandchildren, Siliezar found herself on the verge of losing her cherished home due to mounting debts and exorbitant fees charged by the bank.
She contacted the Nonprofit Alliance of Consumer Advocates on October 7, 2022, to seek help regarding the foreclosure date of November 26, 2022. Siliezar had been managing two loans on her property, with the first mortgage being current. However, the second mortgage had become a significant burden, as she was $36,000 Delinquent with a 9% interest rate and a $197 monthly payment. She struggled to keep up with the payments amidst the emotional and financial toll of her husband's departure. The mounting interest and additional fees imposed by the bank compounded her challenges, leaving her in a precarious position.
Recognizing the urgency of Siliezar's situation, the Nonprofit Alliance of Consumer Advocates refers to the Consumer Defense Law Group. With the expertise and dedication of the attorneys at the Consumer Defense Law Group, a lawsuit, case # C23-00835 was filed against the lender to halt the foreclosure proceedings and secure a more favorable outcome for Siliezar.
The lawsuit, backed by a comprehensive analysis of Siliezar's financial situation and the lender's predatory lending practices, revealed the unjust burden she had been facing. The Consumer Defense Law Group argued that the lender had taken advantage of Siliezar's vulnerable circumstances, and their actions violated consumer protection laws and regulations.

05/26/23

US mortgage giants were placed on credit watch. Here’s what that means for home buyers CNN

US mortgage giants were placed on credit watch. Here’s what that means for home buyers

Washington, DC CNN — The credit ratings of US mortgage giants Freddie Mac and Fannie Mae were put on watch for possible downgrade by Fitch Ratings late Thursday. A downgrade is not expected to happen, as a deal to resolve the debt ceiling standoff continues to be worked out in Washington, but even the warning is having an impact on mortgage rates. The warning came because the ratings for Fannie Mae and Freddie Mac are linked to the sovereign rating of the United States. The watch is a result of the ratings agency warning on Wednesday that America’s credit rating could be downgraded if the debt limit showdown was not resolved soon. Negotiations on the debt limit continue in the House of Representatives between mediators from the Biden administration and Speaker of the House Kevin McCarthy, R-Calif., at the Capitol in Washington, Wednesday, May 24, 2023. (AP Photo/J. Scott Applewhite) The latest on the debt ceiling impasse Fannie and Freddie, which guarantee roughly 70% of the country’s mortgages, do not directly issue mortgages to borrowers, but instead buy mortgages from lenders and repackage them for investors. They are each a government-sponsored enterprise, or GSE, chartered by Congress.
The aim of Freddie and Fannie is to provide liquidity into the mortgage market and enable a reliable flow of affordable funds to mortgage lenders. This ultimately allows more homeowners to borrow at more affordable rates. The enterprises buy loans from lenders, pools them and sells them as securities to investors. Because they are backed by the government, these securities are viewed as less risky than other investments and considered to be as creditworthy as the US government. But this flow of funds could be disrupted if the United States defaults on its debt, Fitch warned.

05/25/23

New Evidence Emerges that the Investigation of the Fed’s Trading Scandal by the Inspector General Has Been a Coverup from the Beginning Wall Street On Parade

New Evidence Emerges that the Investigation of the Fed’s Trading Scandal by the Inspector General Has Been a Coverup from the Beginning

Unlike his three immediate predecessors who chaired the Federal Reserve (Janet Yellen, Ben Bernanke and Alan Greenspan), who all had doctoral degrees in economics, the current Fed Chairman, Jerome Powell, has a law degree from Georgetown University. Given his legal education, one might have expected that when Fed Chair Powell became aware of the largest trading scandal in the Fed’s history in September of 2021, he would have done his legal due diligence to determine where to refer the matter for investigation.

05/25/23

What do I ask? Living Lies

What do I ask?

Because most lawyers and homeowners think they “know” the self-evident answers, they don’t ask the questions that would completely destroy the case against them. Just make a note that unless you ask, there is no obligation to give you answers. And unless you seek enforcement, the violation of the rules will go unnoticed and will not be a proper subject on appeal. You must ask in a timely, appropriate and proper manner. Your question must be clear as a bell. If your question is vague, then that invites evasive answers.

05/25/23

Keep Profits From Tax-Foreclosed Homes Investopedia

Keep Profits From Tax-Foreclosed Homes

If your local government seizes your property and sells it at an auction over unpaid taxes, they’re no longer allowed to keep the profits, the Supreme Court ruled Thursday. In the unanimous ruling, the court sided with Geraldine Tyler, 94, a Minneapolis resident whose condo was seized by Hennepin County in 2015 over $2,300 in unpaid property taxes and $12,700 in penalties and interest. While tax lien foreclosures are well-established law, the controversial part was what happened next: the county sold her house at an auction for $40,000 and kept the difference.

05/25/23

Distraught homeowner’s blind faith resulted in loan Servicer initiating foreclosure after denying assistance NonProfit Alliance of Consumer Advocates

Distraught homeowner’s blind faith resulted in loan Servicer initiating foreclosure after denying assistance

PALMDALE, CA, USA, May 25, 2023/EINPresswire.com/ -- In a heartwarming turn of events, the Nonprofit Alliance of Consumer Advocates has rescued distressed homeowner Yoni Majano, who found themselves trapped in blind faith due to someone close to the family. In 2019, the homeowner purchased a second house with a significantly higher interest rate based on false information that they would receive assistance from the lender to refinance and lower their rates. They were advised not to pay the mortgage on the second house.
After $79,051.75 delinquent on the mortgage with an interest rate of 6.75% and a monthly payment of $464.65, their lender, who turns out to be only a Servicer of the loan-initiated foreclosure proceedings. The homeowner applied for a loan modification from the lender but was rejected multiple times. As a result, the homeowner was left stressed and buried under a mountain of threatening foreclosure letters.

05/23/23

Why homeowners should consider interlocutory appeals from orders denying enforcement of discovery demands Living Lies

Why homeowners should consider interlocutory appeals from orders denying enforcement of discovery demands

The practical effect of denial of discovery demands by the trial court is a ruling in favor of the party making a claim against the homeowner — even if the party had no standing. The homeowner is forced to litigate against a ghost — like going to a gunfight with no guns and no bullets. Most homeowners cannot afford to enter into a needless period of litigation with a party who lacks standing. Hence the ultimate result is the loss of a homestead to a fake claimant who may not even exist.

05/23/23

The Fed Has a New Scandal on Its Hands: Colluding with Central Banks to Rig Libor; Evidence Is Being Tweeted Out Wall Street On Parade

The Fed Has a New Scandal on Its Hands: Colluding with Central Banks to Rig Libor; Evidence Is Being Tweeted Out

The Fed has been under non-stop scandals for the past two years. It pumped out trillions of dollars in repo loans to Wall Street’s casino banks beginning on September 17, 2019 and then made up a hokey excuse to cover up its massive bailout of banks it is incompetent to supervise. After former Dallas Fed President, Robert Kaplan, was caught trading like a hedge fund kingpin while sitting on confidential Fed information, the Fed’s Board of Governors had the audacity to refer the matter to its own Inspector General, who reports to the Fed’s Board of Governors and can be fired by it. Not surprisingly, 19 months later there’s still no word on this investigation.

05/22/23

Attorney Richard Antognini Score Big Win in California Living Lies

Attorney Richard Antognini Score Big Win in California

Here is a case where a lawyer took the trouble to parse the words and documents down to their essence. And he won under circumstances where virtually all other attorneys and judges would have predicted defeat. This is what I have been talking about. The case decision is important for several reasons.

05/22/23

The Banking Crisis for the Biggest U.S. Banks Began in April 2022; By December 14 They Had Shed $457 Billion of Deposits Wall Street On Parade

The Banking Crisis for the Biggest U.S. Banks Began in April 2022; By December 14 They Had Shed $457 Billion of Deposits

Pretty much everything the average American has read about the banking crisis is wrong. And there is at least a prima facie case that could be made that Big Media is responsible for that misinformation.
Let’s start with the dozens of mainstream media reports that small banks were bleeding deposits and these deposits were flooding into the biggest banks in the U.S. as a safe haven. Those reports gave the distinct impression that the mega banks on Wall Street are viewed by Americans as a safe place to stash money, never mind that they blew up the U.S. financial system in 2008 and still have more than $200 trillion in derivatives lurking in the shadows.

05/19/23

New dataset traces Milwaukee’s long foreclosure crisis Marquette Law School

New dataset traces Milwaukee’s long foreclosure crisis

The dramatic consequences of the late 2000s subprime mortgage crisis on Milwaukee neighborhoods are well known, but specific data on foreclosures has been remarkably difficult to come by.
Previous studies have documented plummeting homeownership across the city (particularly on the north side), followed by a surge in out-of-state investment. But researchers have lacked public data on how many foreclosures occurred, who initiated them, which properties experienced them, and the subsequent ownership history of those parcels. To fill that gap, I have assembled a novel dataset of residential foreclosures matched to city parcel records for the years 1995 through 2022. This includes all detached single family homes, condos, duplexes, and triplexes. See the data note at the end of this article for details.

05/18/23

Fake Foreclosures Using the Fannie Mae Name Living Lies

Fake Foreclosures Using the Fannie Mae Name

The central issue is not whether the homeowner owes a “servicer” any money. The central issue is whether the homeowner owes a creditor money. Wall Street securities firms (Investment Banks) have many tricks by which they make fictitious claims appear to come alive. It is like those movies in which animated characters join the “Real-Life” figures. We accept this because we are there to be entertained, and we do not concern ourselves that neither animated characters nor the “real-life” characters are, in fact, real. They are imaginary, and we watch them to be entertained. And to be entertained, we must accept the story and characters as true.
Securitization and foreclosure are the same. The animated characters are those “mortgage-backed securities,” and the “real-life” characters are either fictional names of nonexistent entities or fictional use of names of business entities that technically exist but have no business interests in creating to a claim to collect money from anyone.
But in this case, the ticket price is always in six or seven figures. The homeowner may eventually lose the house to a non-creditor party, or the investors will lose their money by buying certificates that convey no interest in any loans. But this does not stop Wall Street intermediaries and sham conduits from being named by ignorant lawyers as being the parties on whose behalf a foreclosure is initiated.
One of the favorite tools used to force the sale of homesteads strictly for profit and not to pay off any debt is invoking the name “FANNIE MAE.”

05/18/23

The Banking Crisis Has Produced Extraordinary Testimony about Land Mines Lurking in the U.S. Banking System Wall Street On Parade

The Banking Crisis Has Produced Extraordinary Testimony about Land Mines Lurking in the U.S. Banking System

On Wednesday, March 8 of this year, the holding company for the federally-insured Silvergate Bank announced it was winding down the bank. It had little choice but to do so. It was experiencing a bank run and had incinerated its reputation by focusing on deposits from crypto companies, including those majority-owned by indicted crypto kingpin, Sam Bankman-Fried.
According to testimony from the Chairman of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg, before the Senate Banking Committee on March 28, “in the fourth quarter of 2022, Silvergate Bank experienced an outflow of deposits from digital asset customers that, combined with the FTX deposits, resulted in a 68 percent loss in deposits – from $11.9 billion in deposits to $3.8 billion.”

05/18/23

Out-of-state banks own nearly all of Bangor’s vacant homes Bangor Daily News

Out-of-state banks own nearly all of Bangor’s vacant homes

Nearly all of Bangor’s vacant residential properties are owned by out-of-state banks or investment holdings, according to the city’s code enforcement director. And it can be difficult, if not impossible, to track down the right person to facilitate a sale.
Out-of-state banks or investment holdings own 56 of the 70 total vacant residential properties in Bangor, according to Jeff Wallace, Bangor’s code enforcement director. The remaining 14 vacant properties are owned by individuals.

05/17/23

Why $1 Billion Settlement Won’t Stop Wells Fargo or Anyone Else From Starting Fake Accounts Living Lies

Why $1 Billion Settlement Won’t Stop Wells Fargo or Anyone Else From Starting Fake Accounts

The problem with free speech is that it enables people to lie without fear. It is the dominant method of securing patrons for your business, votes for your candidate, and investors for your stock. Although frequently illegal, it doesn’t stop anyone from doing it. Only the lowly go to jail. The real big liars go on to make more pornographic profits. The recent $1 Billion Settlement between Wells Fargo and its investors highlights this continuing problem.

05/16/23

While you were sleeping, your client lost their house Living Lies

While you were sleeping, your client lost their house

Bill Paatalo published his analysis and frustration with the way that lawyers create “shades of gray” when there is nothing to be seen. See

05/15/23

Foreclosure: To Appeal or not to Appeal Living Lies

Foreclosure: To Appeal or not to Appeal

The best practical time to challenge the pretender lender in any jurisdiction is when the homeowner receives a “notice” (usually unsigned) announcing that some company is now their servicer. That is a lie, and effective use of the Administrative Process provided by statute can stop them.

05/14/23

'We can help': Non-profit organization offering help to eligible Texas homeowners at risk of foreclosure 12 News Now

'We can help': Non-profit organization offering help to eligible Texas homeowners at risk of foreclosure

BEAUMONT, Texas — For some Americans, it is getting harder to make ends meet amid the rising cost of housing. Some homeowners are at risk of foreclosure, and a Southeast Texas non-profit organization is hoping to provide them with relief. Kirkni Richardson works with Legacy Community Development. The non-profit organization has taken in 1,000 applications from Southeast Texas families for a homeowners assistance program.

05/14/23

6th Circuit: Tennessee judicial foreclosure time-barred JD Supra

6th Circuit: Tennessee judicial foreclosure time-barred

On May 4, the U.S. Court of Appeals for the Sixth Circuit affirmed a lower court’s decision in a judicial foreclosure action, holding that a bank’s lawsuit was barred by Tennessee’s 10-year statute of limitations for actions to enforce liens on real property. The appellate court also refused to establish an equitable lien on the property in favor of the bank.

05/12/23

A Holder is not a Holder in Due Course Living Lies

A Holder is not a Holder in Due Course

The second requirement is usually completely ignored by the homeowner, the lawyers, and the judge. But it is still there. The possessor of the note, once that is established and confirmed by competent evidence, must allege and prove that it is authorized to enforce the note. By legal definition accepted in all jurisdictions, a holder is not a holder in due course even if they satisfy the two aforesaid requirements

05/11/23

Why you would use a declaration or affidavit from anyone Living Lies

Why you would use a declaration or affidavit from anyone

Why you would use a declaration or affidavit from anyone: As context for QWR and DVL demands.
As context for discovery
As context for motions to compel discovery and for sanctions
As context for motion in limine
As context for a memorandum in opposition to a motion for summary judgment
As context motion to dismiss or a motion for clarification
As context for the motion and memorandum of the homeowner asking for Summary Judgment
As context for Motion to Strike due to inconsistent positions, assertions, or documents
As context for a memorandum of law supporting objections and motions to strike during trial Get the picture?

05/11/23

At Year End, 4,127 U.S. Banks Held $7.7 Trillion in Uninsured Deposits; JPMorgan Chase, BofA, Wells Fargo and Citi Accounted for 43 Percent of That Wall Street On Parade

At Year End, 4,127 U.S. Banks Held $7.7 Trillion in Uninsured Deposits; JPMorgan Chase, BofA, Wells Fargo and Citi Accounted for 43 Percent of That

If the dark secrets about the U.S. banking system that federal regulators have been keeping since the financial crash of 2008 are allowed to be aired in public Congressional hearings as a result of the current banking crisis – and mainstream media will grow a backbone and cover those hearings – it could help the U.S. avoid a catastrophic financial reckoning down the road.

05/11/23

FORECLOSURE ACTIVITY NATIONWIDE SHOWS SLIGHT DECLINE IN APRIL 2023 Attom Data

FORECLOSURE ACTIVITY NATIONWIDE SHOWS SLIGHT DECLINE IN APRIL 2023

IRVINE, Calif., May 11, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its April 2023 U.S. Foreclosure Market Report, which shows there were a total of 32,977 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 10 percent from a month ago but up 8 percent from a year ago.

05/10/23

Getting your words and their words straight in foreclosure litigation Living Lies

Getting your words and their words straight in foreclosure litigation

I am having a spirited exchange with a very experienced trial lawyer on the West Coast. We are discussing whether some declaration should be filed in a pending case where a Motion for Summary Judgment is pending. My answer is no, but a procedural objection should be raised on two grounds:

05/09/23

How good is an “expert” affidavit in foreclosure litigation Living Lies

How good is an “expert” affidavit in foreclosure litigation

Very few people have studied the use of expert testimony, and fewer still have understood it. Start with the basics: An Expert is a person with knowledge beyond the scope of knowledge of the judge. So if you want someone accepted as an expert, you need to show that it is more likely than not that this witness will testify about something that the court concedes (formally or informally) it does not yet know.

05/08/23

Deposits at JPMorgan Chase, Bank of America and Wells Fargo Shrank by $465 Billion Y-O-Y; More than Twice the Total of 4,000 Small Banks Wall Street On Parade

Deposits at JPMorgan Chase, Bank of America and Wells Fargo Shrank by $465 Billion Y-O-Y; More than Twice the Total of 4,000 Small Banks

Since the banking crisis began making headlines at expensive media real estate, the narrative has been that deposits are fleeing the small commercial banks and flooding into the biggest banks that are perceived as too-big-to-fail and thus offer a safer venue for deposits. Because these mega banks are the same ones that the Fed has been bailing out since the financial crisis of 2008, that narrative requires believing that our fellow Americans are dumber than a stump.

05/03/23

We just want to stay in our home’: Springfield residents protest decision to foreclose a woman’s house Western Mass News

We just want to stay in our home’: Springfield residents protest decision to foreclose a woman’s house

SPRINGFIELD, MA. (WGGB/WSHM) - A rally tonight in Springfield to keep one local woman’s house from being foreclosed. Dozens of Springfield residents came out to show their support for a local woman who’s fighting to stay in her house on Wednesday night. “We just want to stay in our home,” said Barbara Williams. Barbara Williams has lived in her Springfield house for more than a decade. After losing her job in 2016, Williams said Fannie Mae started the foreclosure process. “I purchased my house in good faith,” said Williams. “I lost my job and I fell behind in my payments. Now I have regained my income, I have remarried. I raised my children here and I had one child left at home when my house was foreclosed on.” Wednesday night, friends, neighbors, and community leaders gathered at her house protesting the efforts to take back Williams’ home. The rally was organized by the Springfield No One Leaves organization, which fights to keep locals in their home following foreclosures. “We’re always there to help,” said Sue Gamelli, one of the organizers. “We are not a service organization, what we teach you to do is to fight for yourself.”

05/03/23

This Maine foreclosure has taken more than a decade. All that’s left is an empty lot. Bangor Daily News

This Maine foreclosure has taken more than a decade. All that’s left is an empty lot.

A Sanford man abandoned his home after he lost his job in 2010 and could no longer pay the mortgage.
What followed was a mess of red tape, delays and botched attempts at selling and foreclosing on a house from which he still isn’t free. The city leveled the decrepit home a year ago, deeming it dangerous. But the owner continued to be charged for lawn maintenance and property inspection. An empty lot is all that is left.
These stories are playing out across Maine, although numbers of dangerous properties in mortgage defaults are hard to come by. Part of the reason is the large number of federal mortgages in Maine and across the country with layers of loan servicers. Some homes have been hung up in the process since the mortgage crisis of the Great Recession.

05/03/23

Governor Hochul Announces Support For Homeowners, Tenants and Public Housing Residents As Part of FY 2024 Budget New York State

Governor Hochul Announces Support For Homeowners, Tenants and Public Housing Residents As Part of FY 2024 Budget

Adds $391 Million for New York's Emergency Rental Assistance Program to Support Thousands More Tenants and Families, Including New York City Housing Authority Residents and Section 8 Voucher Recipients
Creates Nation-Leading Program to Combat Childhood Lead Exposure in Residential Buildings in 24 High-Risk Areas
Expands Governor's Pioneering Buffalo Program Statewide With $50 Million Homeowner Stabilization Fund to Support Critical Home Repairs in 10 High-Need Communities
Provides $40 Million for the Homeowner Protection Program to Assist Homeowners in Default and Foreclosure in Every County of the State

05/03/23

Short Sellers Cratered Silvergate Bank and First Republic; They’re Now Targeting PacWest and Numerous Other Regional Banks Wall Street On Parade

Short Sellers Cratered Silvergate Bank and First Republic; They’re Now Targeting PacWest and Numerous Other Regional Banks

President Joe Biden is putting the national security of the United States at risk by not suspending the short-selling of federally-insured banks. Concerns over the safety and soundness of the U.S. financial system could cause money flight out of the U.S., impacting the strength of the U.S. dollar and a loss of confidence by our foreign allies.
This is also a matter that impacts the financial lives of every American, because every American – rich, poor or middle class – will suffer the consequences in terms of ability to access bank credit and higher fees on that credit as a result of rebuilding the rapidly depleting federal Deposit Insurance Fund that protects bank deposits.

05/03/23

Who is a legally authorized servicer? Living Lies

Who is a legally authorized servicer?

Here is a simple tip: if the same company is named in other similar actions and that company did not receive the proceeds of the repossession or foreclosure, then the claim and the process was faked through and through. Hint: ask for proof or even a statmeent under oath that the company named as “creditor” is inteded and expected to receive money from the successful outcome of the repo or foreclosure.

05/02/23

Homeowner Strategy in Foreclosure Litigation Living Lies

Homeowner Strategy in Foreclosure Litigation

Court procedure is a long and tedious process during which the parties make their points and counterpoints. If you don’t make the point evident, you lose. If you don’t make the counterpoint, you lose. If you lose, the opposition wins. This is about the rules, not justice or the pursuit of truth.

04/28/23

CFPB Issues Guidance to Protect Homeowners from Illegal Collection Tactics on Zombie Mortgages Living Lies

CFPB Issues Guidance to Protect Homeowners from Illegal Collection Tactics on Zombie Mortgages

The CFPB release says “It is illegal for debt collectors to sue or threaten to sue to collect debts past the statute of limitations.” The more subtle message is that Wall Street needs to stop making claims and threats on claims that either never existed or don’t exist anymore. And that is not just about the statute of imtiations. I would go further and say that anyone who uses that approach as a business model belongs in prison.
Consumers don’t know how legal debts are created, managed, serviced, or extinguished. They typically rely entirely on the statements, correspondence, and notes sent to them — even if those notices come on unsigned paper under the letterhead of business names with which they have never done business.
So the CFPB is catching up with an aspect of this and a fine nuance regarding the legal right to make claims or threaten action to collect an alleged debt. This time it is about Zombie mortgages. The success of the business plan depends entirely on convincing the consumer that his/her transaction was a loan, that an obligation was created, and that the instructions in the letter, statement or notice are authentic communications from a legally recognized creditor. In other words, the business plan requires lying to the consumer and convincing them to pay money when none is due, or there is no right to demand the money.

04/28/23

Advisory Opinion program CFPB

Advisory Opinion program

On April 26, 2023, the CFPB issued an Advisory Opinion to affirm that the Fair Debt Collection Practices Act (FDCPA) and its implementing Regulation F prohibit a debt collector, as that term is defined in the statute and regulation, from suing or threatening to sue to collect a time-barred debt.

04/28/23

Court halts owner-occupied foreclosures after Wayne County petition CBS News

Court halts owner-occupied foreclosures after Wayne County petition

(CBS DETROIT) - The Third Circuit Court in Detroit halted owner-occupied foreclosures after a petition submitted by the Wayne County Treasurer's Office. The motion granted by Chief Judge Patricia Fresard extends through March 31, 2024. Officials say about 3,400 residential properties faced foreclosure.

04/27/23

Nationwide Mortgage Delinquency Rate Neared Record Low in February DS News

Nationwide Mortgage Delinquency Rate Neared Record Low in February

CoreLogic has released its monthly Loan Performance Insights Report for February 2023, which found that 3% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.4-percentage point decrease compared with 3.4% in February 2022, and a 0.2-percentage point increase compared with January 2023.

04/27/23

Banks that Put Up $30 Billion to “Rescue” First Republic May Have Been Trying to Rescue their Own Exposure to $247 Trillion in Derivatives Wall Street On Parade

Banks that Put Up $30 Billion to “Rescue” First Republic May Have Been Trying to Rescue their Own Exposure to $247 Trillion in Derivatives

Ever since 11 banks on March 16 donned the garb of heroic fire fighters, rushing to extinguish an inferno at a competitor bank before it spread further, we have been asking ourselves the question – why just this group of 11 banks.
We’re talking about the action on March 16 when 11 banks chipped in a total of $30 billion and bizarrely placed those funds as uninsured deposits into First Republic Bank – which was in full scale unraveling mode because of bond losses and – wait for it – too many uninsured deposits.

04/27/23

What Lawyers and Judges Are Missing in Foreclosure Cases Living Lies

What Lawyers and Judges Are Missing in Foreclosure Cases

The first question is, “if it wasn’t a loan, then what is it?” Lawyers and homeowners get hooked on this question because they think it is up to them to answer it. But the first rule of procedure and due process is that if you have a claim, then you need to describe it. If it is left to your opponent to speculate about the nature of the claim, then all existing US law requires dismissal of the case, perhaps with leave to amend.

04/26/23

Justices appear likely to side with homeowner in foreclosure dispute SCOTUS Blog

Justices appear likely to side with homeowner in foreclosure dispute

Geraldine Tyler, a 94-year-old grandmother, lost her Minneapolis condo when she failed to pay the property taxes for several years. Tyler does not dispute that Hennepin County could foreclose on the $40,000 property and sell it to obtain the $15,000 in taxes and costs that she owed it. But she argued that the county violated the Constitution when it kept the $25,000 left over after the property was sold. After roughly 100 minutes of debate on Wednesday, a majority of the justices seemed inclined to agree with her.

04/26/23

Grandma didn't pay taxes. Now her house is focus of property rights test case NPR

Grandma didn't pay taxes. Now her house is focus of property rights test case

The U.S. Supreme Court hears arguments Wednesday in the case of a 94-year-old Minneapolis woman whose condominium was seized by Hennepin County for failure to pay property taxes. At issue is the way at least a dozen states handle the sale of homes to pay off overdue taxes.

04/26/23

Woman narrowly avoids reverse mortgage foreclosure due to communication breakdown KOLD

Woman narrowly avoids reverse mortgage foreclosure due to communication breakdown

COLLEGE STATION, Texas (KBTX/Gray News) - Retirement is typically a time of relaxation, assuming you have enough savings to live comfortably. Unfortunately, things don’t always go as planned. Some seniors turn to reverse mortgages, loans that allow homeowners who are at least 62 years old to withdraw some of their home equity and convert it into cash. While it can be a useful loan for many seniors, one College Station resident almost lost her home after her mortgage company claimed she had failed to fulfill all the requirements of her reverse mortgage.

04/26/23

Federal Agencies Are on Board Living Lies

Federal Agencies Are on Board

“We already see how AI tools can turbocharge fraud and automate discrimination, and we won’t hesitate to use the full scope of our legal authorities to protect Americans from these threats,” said FTC Chair Lina M. Khan. “Technological advances can deliver critical innovation—but claims of innovation must not be cover for lawbreaking. There is no AI exemption to the laws on the books, and the FTC will vigorously enforce the law to combat unfair or deceptive practices or unfair methods of competition.”

04/26/23

Maine home foreclosures plummet while sales drop, prices inch up Press Herald

Maine home foreclosures plummet while sales drop, prices inch up

New data on foreclosure filings and on recent home sales create a mixed outlook for the state's residential real estate market. But it appears stronger than those in many other states.

04/26/23

Jamie Dimon’s Deeply Conflicted Role as “Rescuer” of First Republic Bank Requires a Credible Investigation Wall Street On Parade

Jamie Dimon’s Deeply Conflicted Role as “Rescuer” of First Republic Bank Requires a Credible Investigation

The Board of Directors and shareholders at the largest bank in the U.S., JPMorgan Chase – which has more than 5,000 Chase Bank branches dotting the landscape from coast to coast – have ample reason to ask themselves where the loyalties of the bank’s Chairman and CEO Jamie Dimon exactly lie.

04/25/23

While we are all napping: Trading in MSRs hit $1 trillion. Living Lies

While we are all napping: Trading in MSRs hit $1 trillion.

According to recent reports: MSR trading volume this year is on pace to meet or exceed last year’s robust mark, when some $1 trillion in MSRs exchanged hands — then fueled by the spike in interest rates. The trading volume of MSRs so far this year is on pace to meet or exceed last year’s robust mark, when some $1 trillion in MSRs exchanged hands — then fueled by the spike in interest rates.

04/24/23

Don’t Say “LOAN” Living Lies

Don’t Say “LOAN”

Whenever anyone refers to your transaction as a loan, you should be objecting at the earliest possible moment (or else it is waived), and you should be moving to strike the phrase from the court record. But you need to do so properly.
Up until now and for the foreseeable future, homeowners will continue to lose their cases by either waiting until it is “their turn,” at which point their objections are waived, or by “demanding answers” that nobody is obligated to give them.
So if you at to do it right, you need to do it in the only that is legally recognizable. All other approaches may sound good but mean nothing in a court of law.

04/21/23

Black Knight's First Look: Mortgage Delinquencies Hit Record Low in March, While Prepayments Rose on Easing Rates and Seasonal Tailwinds Black Knight

Black Knight's First Look: Mortgage Delinquencies Hit Record Low in March, While Prepayments Rose on Easing Rates and Seasonal Tailwinds

  • The national delinquency rate dropped 53 basis points (-15%) in March, falling below 3% for the first time on record, ending the month at just 2.92%
  • While delinquency rates almost always fall in March – as borrowers utilize tax refunds and other seasonal revenues to pay down past-due debt – the drop marked the second largest decline in the past 17 years
  • Factoring in March's decline, the total number of past-due mortgages (including active foreclosures) has fallen to its lowest level in nearly 23 years, dating all the way back to April 2000
  • Serious delinquencies (90+ days past due) showed marked improvement, falling by 51K to their lowest level since March 2020, with volumes shrinking in every state
  • Likewise, every state saw overall delinquencies fall in March, with improvements ranging from 11.9% in Washington to 21.5% in Vermont
  • Both foreclosure starts (+9.0%) and sales (+4.6%) rose in the month but still remain well below pre-pandemic volumes at the national level
  • Active foreclosure inventory held steady, but remains 31K (12%) below March 2020 levels
  • The prepayment rate (SMM) rose to 0.50% (+44% month over month) driven, as anticipated, by seasonal tailwinds in sale-related prepayments and an increased demand for refis due to falling rates

04/21/23

Foreclosures spike as banks lower the boom on homeowners CBS News

Foreclosures spike as banks lower the boom on homeowners

Americans are losing their homes at a faster rate this year as banks make up for lost time after state and federal foreclosure bans expired. Lenders repossessed nearly 96,000 properties during the first three months of 2023, up 22% from the same period last year, according to real estate data provider ATTOM.

04/21/23

It is NOT the job of the court to answer your questions Living Lies

It is NOT the job of the court to answer your questions

People familiar with my victories in court frequently ask for a list of generic questions that they hope will work in every case. Lay people are not rained to think within the context fo the rules of civil procedure or motions required to force the opposing side to comply with those rules.
There are plenty of POSSIBLE questions and plenty of ways to ask them. But there is no list that is one size fits all. It MUST be tailored to the specific case. Some of the questions are obvious from my prior correspondence.

04/20/23

Former New York Fed Pres Bill Dudley Calls This the First Banking Crisis Since 2008; Charts Show It’s the Third Wall Street On Parade

Former New York Fed Pres Bill Dudley Calls This the First Banking Crisis Since 2008; Charts Show It’s the Third

The official that oversaw the secret funneling of trillions of dollars of bailout money from the New York Fed to the grossly mismanaged mega banks on Wall Street during the financial crisis of 2008 to 2010, had the temerity yesterday to pen an opinion piece at Bloomberg News pointing his finger at current Fed officials for today’s banking crisis – without once mentioning his role in getting us here.

04/20/23

Biggest U.S. Banks Report Bumper Profits Amid Industry Turmoil Living Lies

Biggest U.S. Banks Report Bumper Profits Amid Industry Turmoil

The mega banks are reporting higher profits that were most likely created years ago and stuffed into offshore repositories in off balance sheet transctions. From 1998 to 2008, they siphoned trillions of dollars out of the US economy using worthelss and faslely represented “Mortgage-backed bonds.”

04/19/23

Is Modification Legal? Living Lies

Is Modification Legal?

You are completely correct to say that modification of a contract is not possible without the parties to that contract agreeing to modify. Even a court may not modify that contract unless it contains something that is patently unlawful.

04/19/23

Heading off the next foreclosure crisis Commonwealth Magazine

Heading off the next foreclosure crisis

OVER THE LAST few years, Americans have faced countless challenges we couldn’t have easily predicted: a global pandemic, war in Ukraine, supply chain snarls, a roiling economy — including recent bank collapses — and skyrocketing housing costs amidst all of it.
But we could have predicted what was to follow: a volatile housing market and inflation at levels we have not seen since the 1970s. Household budgets for people with low and middle incomes are being put to the test, and many homeowners are turning to increased credit card spending to sustain their cost of living expenses. Most troubling, home foreclosure stats are on the rise nationwide.

04/19/23

Home prices see largest decline since 2012 as banking crisis hits demand: 'There's this fear that everything will crash' Business Insider

Home prices see largest decline since 2012 as banking crisis hits demand: 'There's this fear that everything will crash'

Median home prices in March dropped 3.3% annually, the biggest decline since 2012, Redfin said. Pandemic boomtowns and the San Francisco Bay Area led the price declines. "I was consistently busy in the fall, but things got really quiet in March after the collapse of Silicon Valley Bank."

04/18/23

Hawaii court ruling establishes precedent for reverse foreclosure cases Reverse Mortgage Daily

Hawaii court ruling establishes precedent for reverse foreclosure cases

At the end of March, the Supreme Court of the State of Hawaii vacated a reverse mortgage foreclosure handed down by lender James B. Nutter and Co., which was doing business as Nutter Home Loans. The court found that Nutter “submitted a materially deficient attorney affirmation to the circuit court” regarding the foreclosure. The case, which has made its way through the state court system since 2009, now sets a precedent for foreclosure cases within the state, according to legal experts who spoke to the Honolulu Civil Beat.

04/18/23

CFPB Issues Guidance on Abusive Conduct Under Federal Law Living Lies

CFPB Issues Guidance on Abusive Conduct Under Federal Law

Most homeowners will continue to ignore such pronouncements that fail to give relevant examples. Most lawyers are too lazy or presumptive to research the issue and seek advice from experts who actually are competent to comment on investment banking applied to the loan market. But since the implied unpaid loan account does not exist and the designated party as claimant expects no payment, they are missing out on easy enforcement of obviously abusive behavior — including attorney fees and costs under the FDCPA and RESPA.

04/18/23

Nothing Is Obvious or Clear in Court Until You Make It So Living Lies

Nothing Is Obvious or Clear in Court Until You Make It So

Hat tip to Elle She raises probably the most important problem confronting homeowners in conflict with pretender lenders. “what if the witness is clearly lying, but it is affecting the judgment of the presiding judge?”

04/17/23

Only unbridled arrogance could produce a statement like this Living Lies

Only unbridled arrogance could produce a statement like this

The Securities and Exchange Commission’s (SEC) renewed proposal to prohibit conflicts of interest in securitizations is critically flawed and would impose significant impediments to the ongoing functioning of the assetbacked securities market, industry advocates said recently. See https://asreport.americanbanker.com/news/damage-to-financial-markets-and-economy-feared-from-secs-abs-proposal It is astonishing that anyone could say that with a straight face. The fact is that the entire value proposition that certificates sold under the name “Mortgage-backed securities” is based on conflicts of interest.

04/14/23

How to use the statutory definitions of the word “servicer” Living Lies

How to use the statutory definitions of the word “servicer”

Hat tip to summer chic. I might add a hat tip to some State and Federal agencies that are waking up and trimming the edges around the false claims implied to support the remedy of foreclosure. Things are changing — and before the banks manage to use their influence in state and federal legislatures, homeowners would be doing themselves and everyone else a favor if they went on the attack now.
Getting down in the weeds is what wins. For about 2 decades or longer, lawyers have been claiming to represent companies that are implied to be creditors and companies that are implied to be servicers. In truth, the lawyer does not represent either one, and neither of those companies has ever touched a single penny of the payments tendered by homeowners.
The word “servicer” has been used to define any company that claims to be a servicer and who satisfies one of several elements. One element is that it claimed to have physical possession of the implied loan file, including the promissory note. Although untrue, this has always been implied and largely unchallenged by homeowners, thus forcing the court to rule in favor of the lawyer implying the existence of a claim.
The second condition is always argued but never true. That is, the company implied to be processing payments from the homeowner has in fact been doing so. Therefore its records of such are admissible as business records, and those business records are easily admitted into evidence against the homeowner as an exception to the hearsay rule. Until 2022, this was a somewhat gray area.
But in 2022, the Consumer Financial Protection Board changed all of that. It said that any company that was in fact, receiving and processing payments from homeowners was a servicer. This made sense since the record of payments could only come from transactions between the company receiving the payments and the homeowner who tendered such payments.
But companies like CoreLogic et al (FINTECH) continue to argue that they are NOT servicers because they do not own or hold the implied underlying obligation or any documents pertaining to the transaction with the homeowner. Most homeowners and lawyers back off simply because they don’t know the next step. Here it is —-
Servicing means receiving any scheduled periodic payments from a borrower pursuant to the terms of any federally related mortgage loan, including amounts for escrow accounts under section 10 of RESPA (12 U.S.C. 2609), and making the payments to the owner of the loan or other third parties of principal and interest and such other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the mortgage servicing loan documents or servicing contract. In the case of a home equity conversion mortgage or reverse mortgage as referenced in this section, servicing includes making payments to the borrower. 12 USC 1024.2

04/13/23

Just How Much is a Mortgage Lien Enforceable After Bankruptcy Discharge Living Lies

Just How Much is a Mortgage Lien Enforceable After Bankruptcy Discharge

The basic premise is that the debt is NEVER discharged. It is only the ability of the owner of the underlying debt to enforce that debt that is discharged. Thus the owner of a lien may still enforce the lien after BKR discharge. The only exception would be a finding in Bankruptcy court that the claim is not secured by the claimed lien in favor of a particular creditor.

04/12/23

Why Courts Enter Judgments Based upon False Facts Living Lies

Why Courts Enter Judgments Based upon False Facts

I frequently get provocative letters explaining to me that the entire system is corrupt and that it is futile to contest actions undertaken by the mega banks or their intermediaries. In turn, these letters frequently go out to others and become the norm in exchanges of information between uninformed people. These letters are getting increasingly frequent as I zero in on the real cracks in the illusion of armor presented by those banks (through intermediaries and regional law firms who are clients of the foreclosure enforcement law firms). Yes, that is right. The law firm presenting the claim against you is presenting another law firm, not the designated creditor. Homeowners get particularly incensed when the opposing attorney supposedly writes a letter containing bald-faced lies.

04/12/23

First Republic Bank’s “Rescuers” Had Underwritten $3.6 Billion of its Preferred Shares, Which Have Lost 65 to 70 Percent of their Value Year-to-Date Wall Street On Parade

First Republic Bank’s “Rescuers” Had Underwritten $3.6 Billion of its Preferred Shares, Which Have Lost 65 to 70 Percent of their Value Year-to-Date

Four of the eleven big banks that announced on March 16 that they were going to dump a combined $30 billion of their own money as uninsured deposits into the plunging coffers of First Republic Bank were also the underwriters of $3.6 billion in preferred stock for First Republic Bank. Units of JPMorgan Chase, Bank of America, Morgan Stanley and Wells Fargo were underwriters of the majority of the preferred stock outstanding at First Republic Bank. UBS, which did not contribute to the $30 billion deposit infusion, was also one of the primary underwriters. UBS was otherwise occupied last month by having a gun put to its head by the Swiss government to “rescue” the tanking Credit Suisse. The Swiss government also denied shareholders on both sides of the deal the ability to vote on the matter.

04/11/23

How Wall Street Banks Use SEC.GOV as a Billboard for Faking MBS Living Lies

How Wall Street Banks Use SEC.GOV as a Billboard for Faking MBS

Digging Into a $344 Billion Investing Mystery Preposterous claims in private investment offerings illustrate an important point about red-hot ‘Reg D’ securities: No one is checking to see if the details in these filings are even remotely true

04/11/23

Fed Report: Largest 25 U.S. Banks Have Shed $700 Billion in Deposits Over Past Year Wall Street On Parade

Fed Report: Largest 25 U.S. Banks Have Shed $700 Billion in Deposits Over Past Year

To read the headlines in the major business press, one would think that since the upheaval began in the U.S. banking system, the largest U.S. commercial banks have been the beneficiaries in terms of deposit inflows. For example, on March 13 the Financial Times ran this headline: “Large US banks inundated with new depositors as smaller lenders face turmoil.” The subhead was even more questionable, reading: “Failure of Silicon Valley Bank prompts flight to likes of JPMorgan and Citi.”

04/10/23

Collateral lawsuits and Adversary lawsuits in bankruptcy actions Living Lies

Collateral lawsuits and Adversary lawsuits in bankruptcy actions

If the party named as claimant or Plaintiff or Beneficiary did not own any unpaid debt and said party, therefore, suffered no economic injury by and through any action or inaction of the defendant or homeowner, then despite the appearance of default, no legal default has occurred even upon declaration of such by a disinterested third party. 1916 article on collateral attacks.

04/09/23

Lawyer accused of scamming homeowners skips court appearance The Real DEal

Lawyer accused of scamming homeowners skips court appearance

A North Carolina attorney facing felony charges for her alleged role in scamming poor homeowners failed to appear at a hearing related to her criminal case scheduled last week. Ilesanmi “Ile” Adaramola is accused of finding properties facing foreclosure and forcing them into auction by falsifying documents, among other things, according to the Asheville Citizen-Times.

04/06/23

Ocwen is seen as potential trouble! Living Lies

Ocwen is seen as potential trouble!

Ocwen Related Matters
During the year ended December 31, 2022, Ocwen was our largest customer, accounting for 41% of our total revenue. Additionally, 6% of our revenue for the year ended December 31, 2022 was earned on the loan portfolios serviced by Ocwen, when a party other than Ocwen or the MSR owner selected Altisource as the service provider.
Ocwen has disclosed that it is subject to a number of ongoing federal and state regulatory examinations, consent orders, inquiries, subpoenas, civil investigative demands, requests for information and other actions and is subject to pending and threatened legal proceedings, some of which include claims against Ocwen for substantial monetary damages. Previous regulatory actions against Ocwen have subjected Ocwen to independent oversight of its operations and placed certain restrictions on its ability to acquire servicing rights. Existing or future similar matters could result in adverse regulatory or other actions against Ocwen. In addition to the above, Ocwen may become subject to future adverse regulatory or other actions.

04/05/23

Government program helps Wisconsinites avoid foreclosure Spectrum News

Government program helps Wisconsinites avoid foreclosure

Thousands of Wisconsinites have received assistance from the state’s Help for Homeowners program, but more help is still available, Gov. Tony Evers said Thursday. WHH launched in March 2022, and thus far, more than 5,400 Wisconsin homeowners have received assistance through the program. WHH, which is federally funded, provides up to $40,000 for Wisconsin homeowners, ensuring people can stay in their homes and avoid facing foreclosure because of “pandemic-related financial burdens.”

04/05/23

15 USC§1635 triggers an event, not a claim Living Lies

15 USC§1635 triggers an event, not a claim

The basic thrust of argument on TILA rescission is that rescission is an event, not a claim. After sending (mailing USPS) the notice of rescission, there is nothing else required on the part of the homeowner. It was passsed in the 1960s to force compliance with lending laws. 15 USC §1635 is effective upon mailing, even if the judge or anyone else thinks it was not sent in good faith, as long as it is within 3 years of consummation of the alleged transction. See Jesinoski v Countrywide (2015 unaimous US Supreme Court decision). Virtually all foreclosures of the note and mortgage after rescission are and will always be void. Title remains vested in the homeowner. Both title and the right to possession can be enforced by such homeowners by injunction and eviction proceedings. The only limit to such enforcement is an action by the pretender lender to obtain title by advserse possession which generally carries a minimum of 20 years for the adverse possession of the dispute property. No such action is allowed to be filed in less than 20 years since the the commencement of the “adverse possession” as if the possessor had title.

04/05/23

A Growing Lack of Confidence in the Fed Is Spilling Over into a Lack of Confidence in U.S. Banks Wall Street On Parade

A Growing Lack of Confidence in the Fed Is Spilling Over into a Lack of Confidence in U.S. Banks

Millions of Americans are beginning to ask themselves this question: Is the Federal Reserve (the “Fed”) a competent central bank or a terminally compromised regulator that simply does the bidding of Wall Street’s mega banks to the peril of average Americans and the U.S. economy? Millions of other Americans have already made up their minds on this point.

04/04/23

After Pushing the Wall Street Scheme to Repeal Glass-Steagall, the New York Times Returns to Puff Pieces on Rodge Cohen and Jamie Dimon Wall Street On Parade

After Pushing the Wall Street Scheme to Repeal Glass-Steagall, the New York Times Returns to Puff Pieces on Rodge Cohen and Jamie Dimon

The New York Times has been able to fly below the radar in terms of its insufferable ability to muck up the financial system of the United States and then canonize its aiders and abettors with puff pieces. It was none other than the New York Times that repeatedly used its editorial page to advocate for the repeal of the Glass-Steagall Act, which had protected the U.S. financial system from crisis for 66 years until its repeal under the Wall Street friendly Bill Clinton administration in 1999. It took only nine years after its repeal for the U.S. financial system to crash in 2008, requiring the largest public bailout in U.S. history. We’re now in banking crisis and bailout 3.0.

04/04/23

Jamie Dimon says the banking crisis is not over and will cause ‘repercussions for years to come’ CNBC

Jamie Dimon says the banking crisis is not over and will cause ‘repercussions for years to come’

The stress on the financial sector caused by two bank failures in the United States last month is still a threat and should be addressed by a reimagining of the regulatory process, according to JPMorgan Chase CEO Jamie Dimon.

03/31/23

Friends and Foreclosure Fighters! MAAPL.org

Friends and Foreclosure Fighters!

I have been blessed with what feels like kind of a sacred charge. I cannot accomplish this without as many people’s help as possible. (we need you to at least call in on Tuesday, 4/4/23 at 9am.)
This could be a milestone in the anti-foreclosure fight against what we now know is 160 years of predatory and prejudiced lending (one historic researcher holds that this is the primary reason for the continuing racial divide in wealth in the United States). The key Massachusetts courts, the Housing Courts, where the fight to end, reverse and redress predatory lending violations have begun a new practice of stripping not only the property rights and equal protection rights, but, in fact, First Amendment rights from those who fight illegal foreclosures and evictions.
I will be the first to address this fundamental stripping of First Amendment rights in oral argument. The universe has placed that hearing on, of all days, the 55th anniversary of the assassination of Martin Luther King, Jr. I had already planned to rely on his incisive and elegant formulation of the necessity of access to persuading others (freedom of speech).
What we need is an unprecedented magnitude of witnesses to this hearing. It is scheduled for Tuesday, 4/4/23 at 9AM ET. You can call in and listen to the proceeding: as the case is being heard in Session II, the phone number is 877-730-2624; passcode is 2530102#. Further, if you will contact me, please, and let me know if you can be there, there are further (and maybe better) ways to access the hearing. Please recruit friends and family – this matters.
Please, this is a potential watershed moment for this movement to make it clear that even if these illegal, immoral, and, in fact, criminal practices have been overwhelmingly ignored by our courts, it does not mean that we will put up with this injustice any longer.
In peace and power, love, Grace Ross MAAPL.org 617-291-5591

03/31/23

SEC does NOT regulate trusts or the issuance of certificates Living Lies

SEC does NOT regulate trusts or the issuance of certificates

No trust is regulated by the SEC. No reporting is required of any trust.
But by filing a prospectus, the investment bank gains access to the SEC.gov site. So they upload documents and then download the same documents so they can display the sec.gov in the header. They then falsely argue for judicial notice of a government document.
No document is a government document unless it is created by the government. Since the SEC did not issue the document and never reviewed or exercised any regulatory action, this is not a government document. It is a private document that the lawyers have dressed up to look like a government document. Judicial Watch, Inc. v. Clinton, 880 F. Supp. 1, 11 (D.D.C. 1995) (“documents are typically not agency records under the Act unless and until they are included within material controlled, created, approved and utilized by the agency itself. ”)
Ultimately all filings by the investment bank in relation to the fictitious trusts are followed by a filing that says, “we don’t need to report anything.” In 1998 the regulations were rolled back on the certificates sold to investors in which, by law, the certificates were categorized as private contracts and expressly asserted to be excluded from the category of securities and issuers that were regulated.
In short, there are no securities, trusts, or government documents in any securitization infrastructure.

03/30/23

Lender refused to accept payments from the legal heir, who was being helped by Nonprofit Alliance of Consumer Advocates NonProfit Alliance of Consumer Advocates

Lender refused to accept payments from the legal heir, who was being helped by Nonprofit Alliance of Consumer Advocates

CAMBRIA, CA, UNITED STATES, March 30, 2023/EINPresswire.com/ -- When Glenn Grego's father passed away, he found himself facing foreclosure because the lender was not accepting his mortgage payments. Despite being rejected six times for a loan modification, Glenn was left with an unpaid balance of $754,698.22, making him 38 months delinquent with a balance of $100,230.18 and a monthly payment of $2,578.78. Despite receiving solicitation for eviction protection services and surplus fund retrieval from various law firms and non-attorneys, the bank found it more beneficial to sell Glenn's property instead of accepting his payments.

03/30/23

Share of Delinquent Mortgages Drops, But Foreclosure Rate Creeps Upward DS News

Share of Delinquent Mortgages Drops, But Foreclosure Rate Creeps Upward

CoreLogic has released its monthly Loan Performance Insights Report for January 2023, which found that 2.8% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.5 percentage point decrease compared with 3.3% in January 2022, and a 0.2 percentage point decrease compared with December 2022.

03/30/23

MaineHousing, real estate agents offer help for people facing foreclosure News Center Maine

MaineHousing, real estate agents offer help for people facing foreclosure

PORTLAND, Maine — People facing foreclosure in Maine have options that housing experts say most might not know about. On March 7, MaineHousing relaunched the Homeowner Assistance Fund. The program uses federal COVID-19 pandemic relief dollars to help those who fell behind on payments during the pandemic. It is meant to help low- and moderate-income families who suffered financial hardships since January of 2021. Homeowners can receive up to $50,000 depending on their eligibility. Homeowners can check eligibility and begin the application process online at MaineHomeownerHelp.org.

03/30/23

Federal Reserve Board fines Wells Fargo $67.8 million for inadequate oversight of sanctions risk at its subsidiary bank Federal Reserve

Federal Reserve Board fines Wells Fargo $67.8 million for inadequate oversight of sanctions risk at its subsidiary bank

The Federal Reserve Board on Thursday announced that it has fined Wells Fargo & Co., of San Francisco, California, $67.8 million for the firm's unsafe or unsound practices relating to historical inadequate oversight of sanctions compliance risks at its subsidiary bank, Wells Fargo Bank, N.A. Wells Fargo & Co.'s deficient oversight enabled the bank to violate U.S. sanctions regulations by providing a trade finance platform to a foreign bank that used the platform to process approximately $532 million in prohibited transactions between 2010 and 2015.

03/30/23

Chopra: Nonbanks, Mortgage Servicers May Also Pose Systemic Risk National Mortgage Professional

Chopra: Nonbanks, Mortgage Servicers May Also Pose Systemic Risk

CFPB director tells Consumer Bankers Association conference such a failure could lead to 'chaos.' What happens if a nonbank lender or large mortgage servicer fails? That’s a question that recently has been keeping Consumer Financial Protection Bureau Director Rohit Chopra awake at night. "A major disruption or failure of a large mortgage servicer really gives me a nightmare," Chopra said Tuesday during CBA Live 2023, a conference in Las Vegas hosted by the Consumer Bankers Association.

03/30/23

Biden asks banking regulators to toughen some rules after recent bank failures NPR

Biden asks banking regulators to toughen some rules after recent bank failures

President Biden on Thursday urged banking regulators to take additional steps to reduce the risk of more mid-sized bank failures like Silicon Valley Bank and Signature Bank. "We think things have stabilized significantly," a White House official told reporters on a conference call. "We also think it's important that regulators take steps to make sure future banking crises don't happen."

03/30/23

Are the courts really misbehaving in foreclosure cases — probably not. Living Lies

Are the courts really misbehaving in foreclosure cases — probably not.

Don’t shoot the messenger. * If we assume that the court is only allowed to rule on allegations that bring the claim it is probably true that homeowner complaints and motions should be denied because mostly they have not attacked the existence, ownership and authority over the implied (but never stated) underlying debt that can only be found in the receivables of the designated creditor.

03/29/23

How to attack title to a mortgage lien Living Lies

When to act on your “mortgage transaction”

Several steps should be taken to attack any document that does not include a warranty of title to the lien and authority to enforce. You attack the title to the lien under the premise that no transfer of a lien is legally valid or even recognizable unless there is a concurrent transfer of the underlying debt. Transfer of the note is only evidence of the transfer of the underlying alleged debt. My premise is that there is no underlying debt.

03/28/23

Judge green lights amended predatory lending suit against Wells Fargo Housing Wire

Judge green lights amended predatory lending suit against Wells Fargo

A federal judge in Georgia has given the green light for an amended “predatory lending” lawsuit to proceed against Wells Fargo. The lawsuit was filed under the Fair Housing Act by three counties in Georgia.
The counties initially filed the lawsuit in April 2021, claiming that Wells Fargo and some of its related entities engaged in a broad predatory lending scheme that targeted minority residents in Cobb, DeKalb and Fulton counties.
According to the complaint, Wells Fargo allegedly engaged in an “equity stripping” scheme that was “a combination of predatory and discriminatory lending, servicing, and foreclosure practices over the life of a mortgage.”
The lawsuit also alleges that Wells Fargo originated high-cost loans to minorities at a rate of 2.3 times higher than for non-minorities.
The complaint was initially dismissed last March by U.S. District Judge Michael L. Brown, who ruled that the counties failed to allege Wells Fargo engaged in any discriminatory acts within the two-year period covered under the Fair Housing Act.
However, the judge allowed the counties to amend and resubmit the lawsuit, ruling last week that the new complaint can move forward.
The amended complaint cites 30 different loans originated, serviced and/or foreclosed on by Wells Fargo. The lender asked the court to dismiss the amended suit, citing that the statute of limitations had expired, but Judge Brown ruled that the 10 loans identified by the counties fell within the correct time frame.
The counties allege in the lawsuit that Wells Fargo and its related entities began the purported “discriminatory scheme” at the point of loan origination by forcing “borrowers to pay higher costs and improper fees.”
Per the lawsuit, this “continued throughout the life of the loans as borrowers paid inflated interest rates, manifested through the imposition of prepayment penalties when borrowers refinanced or paid off loans, progressed into default when [Wells Fargo] subjected borrowers to fees and costs, and culminated in foreclosure.”
The counties state in the lawsuit that the borrowers’ names on each of the loans reflect that the borrower is likely “African American, Latino/Hispanic, or [another] minority,” and that census data shows each property was located within a mostly minority neighborhood, according to the ruling.
The counties also provided the court with three “heat maps,” which they say show a difference in foreclosure rates between neighborhoods with mostly minority residents compared to neighborhoods with mostly white residents.
The heat maps allegedly show the foreclosure rate in Fulton County was 3.5 times higher in neighborhoods with large percentages of minority residents compared to mostly white neighborhoods. That rate was five times higher in DeKalb County and 18% higher in Cobb County, according to the lawsuit.
The amended allegations are enough, at least at the pleading stage, to establish the 10 loans were part of the three counties’ “purported discriminatory scheme” — and that they undertook a discrete action in furtherance of that scheme within the limitations period, Brown said.
“To move past summary judgment on the merits, Plaintiffs will have to present evidence of this overarching scheme, and alleged discrimination in origination may not be enough to establish conduct within the statutory period,” Judge Brown said.
A hearing is scheduled for April 18 to discuss how discovery should proceed.
“As part of this, the Court is considering whether discovery should begin with the 10 loans discussed above or some other subset of loans so as to focus initially on whether Defendants’ alleged discriminatory scheme continued beyond April 30, 2019,” the ruling states.
According to Wells Fargo, the claims outlined in the lawsuit are unfounded.
“While we are disappointed in the rulings, Wells Fargo continues to believe that the counties’ claims regarding our lending practices are unfounded and will continue to defend this case,” Wells Fargo’s spokesperson said in an e-mailed response.
Wells Fargo has been under fire numerous times in the past over discriminatory lending allegations.
In late 2022, Wells Fargo agreed to pay a civil penalty of $1.7 billion in order to settle multiple consent orders related to automobile lending, consumer deposit accounts and mortgage lending with the Consumer Financial Protection Bureau (CFPB).
According to the CFPB, Wells Fargo repeatedly misapplied loan payments, wrongfully foreclosed on homes, illegally repossessed vehicles and charged surprise overdraft fees, which affected 16 million customers’ accounts.
In April 2022, the bank was sued for allegedly approving more white borrowers for mortgage loans compared to Black applicants following the creation of the federal CARES Act, which helped to drop interest rates down to historic lows.
In 2012, the bank agreed to pay at least $175 million to settle accusations that it unfairly steered Black and Hispanic homeowners into subprime mortgages and charged them higher fees and interest rates. Wells Fargo said at the time that it treated all customers fairly regardless of race.

03/24/23

As Senate Banking Committee Convenes Hearing on Exploding Banks, an FDIC Chart Shows the Banking Crisis Is Far from Over Wall Street On Parade

As Senate Banking Committee Convenes Hearing on Exploding Banks, an FDIC Chart Shows the Banking Crisis Is Far from Over

Senator Sherrod Brown (D-OH), the Chair of the Senate Banking Committee, will convene a hearing this morning at 10 a.m. to take testimony from federal bank regulators on why the second and third largest bank failures in U.S. history occurred within two days of each other this month. (A number of other regional banks have seen their share prices plunge this month.)

03/28/23

When to act on your “mortgage transaction” Living Lies

When to act on your “mortgage transaction”

Why is “mortgage transaction” bracketed in quotes? Because the transaction is really a draft of homeowners into becoming issuers in a concealed securities scheme. The loan account, part of every traditional loan, is neither created nor transferred. All players are paid off through the sales of certificates that by law are not classified as securities and are not backed by any liens or collateral. So both the “mortgage transaction” and the “Mortgage-backed securities” carry a moniker that denotes the exact opposite of their true intention.

03/27/23

Emergency: Why the New Article 12 of the Uniform Commercial Code Should Be Rejected Living Lies

Emergency: Why the New Article 12 of the Uniform Commercial Code Should Be Rejected

2460 FIFE 8-25-2016 BENEFICIARY DECLARATION QUALITY LOAN SERVICE CORP OF WA
The UCC is a uniform authority on laws governing all transactions. It is adopted by law in all U.S jurisdictions. Transactions with homeowners are governed by Article 3 (Negotiable Instruments) and Article 9 (Secured Transactions).
My attacks on the weakness of the argument for business records of the “servicer” have resulted in the proposed new Article 12, which appears to have been adopted in other states (other than Florida). The new article proposes a new classification that will supersede all common law and statutory law regarding business records.

03/26/23

Lawyer once helped debt-ridden owners hang on to homes. Now he helps cities take them away. Tampa Bay Times

Lawyer once helped debt-ridden owners hang on to homes. Now he helps cities take them away.

Matt Weidner worked to help cities deal with the blight caused by poorly maintained properties, but it also meant that a lawyer once known for helping people keep homes was now helping cities take them away.

03/24/23

Bill Black on SVB: A Bipartisan Clown Car Crash The Analysis.news

Bill Black on SVB: A Bipartisan Clown Car Crash

The legendary regulator and white-collar criminologist William K. Black explains why, contrary to corporate media coverage, the bank failures set off by the Silicon Valley Bank crash were absolutely not sudden, unexpected, or unforeseeable, and why none of the regulations Democrats or Republicans are talking about would have stopped them.

03/24/23

Florida cities ramped up foreclosures to hurt speculators. Instead they helped them Miami Herald

Florida cities ramped up foreclosures to hurt speculators. Instead they helped them

In 2015, then-St. Petersburg Mayor Rick Kriseman championed a plan to crack down on the city’s so-called “zombie properties” by aggressively foreclosing on them. The city would target poorly maintained properties that had racked up big fines and code enforcement liens with the hope that new ownership would lead to community redevelopment. City leaders believed the plan was the first of its kind in the state and signed a contract with a local private attorney named Matt Weidner to bring the city’s cases to court. Weidner had been a donor to Kriseman, a Democrat who was elected in 2013 after previously serving in the Florida House of Representatives. But Weidner brushed aside any concerns about impropriety.
“This is not a plum deal, which is going on forever or one that involves much money at all,” he said at the time. Weidner’s predictions, however, haven’t come to pass. Eight years later, he continues to bring foreclosure cases on behalf of St. Petersburg. To date, he’s been paid nearly $1.5 million by the city for his work.
And he’s signed contracts with eight other jurisdictions across Florida to do similar work since then, bringing in an additional $1.4 million in fees and expenses. Weidner has sold cities on the idea that they can transform code enforcement rules that used to be intended to achieve compliance into money-makers, by aggressively collecting money cities were owed from fines — or, in the alternative, taking the homes of owners who can’t pay.
The lawsuits have undoubtedly brought about improvements to many of the properties targeted, either through new, more active ownership or by forcing existing owners to improve their practices. But a Miami Herald investigation based on a review of thousands of pages of court records from more than 775 lawsuits and interviews with numerous property owners targeted by Weidner and his client-cities shows that they have also caused harm.

03/24/23

Powell and Yellen Say the Banking System Is Sound as Another Global Bank Teeters Wall Street On Parade

Powell and Yellen Say the Banking System Is Sound as Another Global Bank Teeters

The reassurances of Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Janet Yellen that the U.S. banking system is sound, stand in sharp contrast to what is happening in markets. This week, the shorts have found another easy new global bank target to try to take down after making a bundle of money betting against Credit Suisse, which was taken over for 82 cents a share on Sunday by its Swiss competitor, UBS.

03/24/23

Fannie Mae Just Created a New Real Estate Career with their New Appraisal Waiver Program Skyline School

Fannie Mae Just Created a New Real Estate Career with their New Appraisal Waiver Program

Fannie Mae's Value Acceptance + Property Data program, set to launch on April 15, 2023, has cast a shadow over the appraisal industry's future, potentially marking the beginning of the end for licensed appraisers.
The program aims to transform mortgage loans by replacing traditional appraisals with assessments conducted by unlicensed "Property Data Collectors," and many are questioning whether this is the first step in eliminating appraisers altogether.

03/24/23

Analysis of Fake Beneficiary Declaration Living Lies

Analysis of Fake Beneficiary Declaration

2460 FIFE 8-25-2016 BENEFICIARY DECLARATION QUALITY LOAN SERVICE CORP OF WA
Toon Hobbs does not say he is an officer of Deutsch Bank.
He also does not say that Deutsche Bank warrants ownership over the alleged or implied unpaid loan account.
As Document Control Officer, he is also NOT a records custodian and decidedly not a TRUST OFFICER.
He does not describe the scope of his duties.
He does not say that Deutsch Bank maintains a trust account on behalf of the obliquely named trust or on behalf of the unspecified holders of the unspecified certificates.
More importantly he makes no reference to a trust agreement, much less attach it.
More importantly he makes no reference to a servicing agreement, much less attach it.

03/23/23

PennyMac Financial Services: Dubious Accounting Games Won’t Solve Its Crisis Living Lies

PennyMac Financial Services: Dubious Accounting Games Won’t Solve Its Crisis

*at the heart of claims of securitization is a data point that cannot be confirmed or corroborated, to wit: an unpaid loan account owed to as specifically identified creditor who makes decisions regarding collection, enforcement, and workouts. That account and that creditor does not exist in anyone’s world unless they are admitted in a court action.

03/23/23

Scheme Targets Homeowners Saporta Report

Scheme Targets Homeowners

A Florida-based firm’s wealth-stripping scheme is the latest threat to some of the country’s most vulnerable homeowners

03/22/23

Courts May Not Use Discredited Document as Basis for Judgment Living Lies

Courts May Not Use Discredited Document as Basis for Judgment

There is no appellate case in which the following proposition has been ruled upon according to my research: can the court continue reliance on legal presumptions arising from facially valid documents from a litigant who fails or refuses to provide reasonable corroboration of the truth of the matters asserted in said documents?

03/22/23

Citigroup’s Citibank Took the Largest Amount of Loans from the FHLB of NY in 2022, Reminiscent of FHLB Loans Taken by Silvergate, SVB, Signature, and First Republic Bank Wall Street On Parade

Citigroup’s Citibank Took the Largest Amount of Loans from the FHLB of NY in 2022, Reminiscent of FHLB Loans Taken by Silvergate, SVB, Signature, and First Republic Bank

On March 13 we published the chart below, showing the ten financial institutions that had taken the largest loan advances from the Federal Home Loan Bank of San Francisco as of year-end 2022. It’s a very ominous sign that the bank at the top of the list, Silicon Valley Bank, collapsed and is now under the control of the Federal Deposit Insurance Corporation (FDIC). Silicon Valley Bank had $212 billion in assets as of year-end 2022, making it the second largest bank failure in U.S. history. The largest failure was Washington Mutual in 2008, with approximately $300 billion in assets.

03/22/23

Murphy’s measure aims to seal wrongful pandemic foreclosures Illinois Senate Democrats

Murphy’s measure aims to seal wrongful pandemic foreclosures

SPRINGFIELD – In order to protect victims of wrongful foreclosures that occurred during the COVID pandemic, State Senator Laura Murphy has introduced a bill that would seal foreclosure records that were initiated during the foreclosure moratoria.

03/22/23

New Yorkers rally in Albany for funding to protect homeowners Spectrum News1

New Yorkers rally in Albany for funding to protect homeowners

As the state budget is negotiated in Albany, New Yorkers are rallying for what they call a critical program left out of Gov. Kathy Hochul's $227 billion budget plan. It’s called the Homeowners Protection Program (HOPP), and it assists more than 15,000 homeowners that find themselves in distress every year. “The HOPP program helped me save my family’s home from foreclosure,” said Melessa Anderson, a HOPP beneficiary.

03/21/23

Everyone lies Living Lies

Everyone lies

The basis for most big business plans is to give the consumer the worst possible product or service while convincing the same consumer that the cost is inevitable and the product or service is excellent. This produces something that Alejandro Reyes of Deutsch Bank called a “counter-intuitive” system. * Let me give you a few examples:

03/21/23

ATTOM cites housing markets most vulnerable to decline The Title Report

ATTOM cites housing markets most vulnerable to decline

ATTOM released its Special Housing Risk Report spotlighting county-level housing markets that are more or less vulnerable to declines, based on home affordability, foreclosures and other measures in the fourth quarter of 2022. The report shows that inland California, Illinois, New Jersey, and Delaware continued to have some of the highest concentrations of the most-at-risk markets in the country, with the biggest clusters in the New York City and Chicago metro areas. Southern and Midwestern states remained less exposed.

03/20/23

Don’t use your own wording simply because it sounds good to you Living Lies

Don’t use your own wording simply because it sounds good to you

What you are looking for is corroboration that the account exists and corroboration documents showing that consideration was paid and not just recited on the transfer document on paper.

03/19/23

Mass. property tax foreclosure laws harmful, inequitable Worcester Telegram and Gazette

Mass. property tax foreclosure laws harmful, inequitable

Last year, Deborah Foss was forced to live in her car during the coldest months of the year after New Bedford officials placed a tax lien on her home and sold it to a private company called Tallage for $9,626 — the total amount she owed, including interest. The tax lien gave the investor authority under Massachusetts law to take her home, sell it for $241,600 and keep all the profits. Deborah lost her home and her value in it over a debt that was worth just a fraction of the value of her home.
And that's just the tip of the iceberg. From 2014 through 2021, Massachusetts homeowners subjected to tax foreclosure lost 82% of their home equity on average — $172,000 per home. Massachusetts is one of 12 states, plus the District of Columbia, regularly using these abusive and unconstitutional “tax and take” seizures. A recent study by my firm, Pacific Legal Foundation, details how these predatory home equity theft laws work, and the windfall government and private investors have taken at the expense of people like Deborah.

03/17/23

JPMorgan’s High Risk Footprint; Bloomberg News as PR Agent for Jamie Dimon; and the Untold Story of the Failed “Rescue” of First Republic by the Mega Banks Wall Street On Parade

JPMorgan’s High Risk Footprint; Bloomberg News as PR Agent for Jamie Dimon; and the Untold Story of the Failed “Rescue” of First Republic by the Mega Banks

At 6:33 a.m. this morning, this big, bold headline appeared at the very top of Bloomberg News web page: “How Dimon and Yellen Helped Secure $30 Billion Lifeline for First Republic.” This headline is part of a very long, highly questionable promotion of Jamie Dimon by Bloomberg News as the wunderkind of Wall Street banking.

03/17/23

Foreclosure Defense: What is in a word? EVERYTHING Living Lies

Foreclosure Defense: What is in a word? EVERYTHING

The abuse of words is an essential ingredient in any scam. The reason is that the listener or reader has a complex idea of a specific word.
By knowing that idea is in the head of the victim, the scammer can extract money and services, and even products from him or her.

  • Madoff used the word “investment” and people assumed he was investing.
  • Wells Fargo used the word “account” when the customer neither knew nor requested it. Everyone assumed that it was opening accounts at customers’ request and charging them fees.
  • Goldman Sachs used the word “loan” when they were actually using homeowner transactions as an event starting the issuance of securities – not the establishment of a loan account.

03/16/23

Errors in Court (foreclosure cases): Foundation and Business Records Living Lies

Errors in Court (foreclosure cases): Foundation and Business Records

Ultimately, the claim made against the homeowner must make commmon sense. But getting there requires litigation skills. But it is true that ANY lawyer that simply follows standard defense strategies can win these cases for homeowners. The key is always lack of foundation and hearsay objections. But the standard error being made in court consists of (1) overlooking the requirement of foundation testimony and (2) acceptance of printed reports as business records.

03/16/23

Nonprofit Alliance of Consumer Advocates helps Foreclosed Homeowner with Successful Surplus Trustee Sale Reversal NonProfit Alliance of Consumer Advocates

Nonprofit Alliance of Consumer Advocates helps Foreclosed Homeowner with Successful Surplus Trustee Sale Reversal

Melissa Rivera purchased her home in Pittsburg, CA with an FHA loan through Quicken Loans, Inc. on August 19, 2016. Still, she fell behind on her mortgage payments due to financial difficulties, her mortgage was modified on March 4, 2020, but the COVID-19 pandemic caused her to fall behind on payments again, leading to a Notice of Default, then a Notice of Trustee Sale.

03/16/23

The Next Bomb to Go Off in the Banking Crisis Will Be Derivatives Wall Street On Parade

The Next Bomb to Go Off in the Banking Crisis Will Be Derivatives

U.S. Treasury Secretary Janet Yellen finds herself in a very dubious position. Under the Dodd-Frank financial reform legislation of 2010, the U.S. Treasury Secretary was given increased powers to oversee financial stability in the U.S. banking system. This increase in power came in response to the 2008 financial crisis – the worst financial collapse since the Great Depression. The legislation made the Treasury Secretary the Chair of the newly created Financial Stability Oversight Council (F-SOC), whose meetings include

03/15/23

REPORT AND RECOMMENDATIONS TO NEW JERSEY SUPREME COURT RESURFACES AFTER SUBMISSION IN 2010: WHY ARE STATE SUPREME COURT IGNORING THE OBVIOUS IMPLICATIONS? Living Lies

REPORT AND RECOMMENDATIONS TO NEW JERSEY SUPREME COURT RESURFACES AFTER SUBMISSION IN 2010: WHY ARE STATE SUPREME COURT IGNORING THE OBVIOUS IMPLICATIONS?

In 2005, reports started surfacing about fabricated documents, forged documents, and back-dated documents being used to promote “foreclosure” remedies. This one w as issued and submitted to the Supreme Court of New Jersey in 2010. Like Florida and dozens of other states, the Supreme Court and lower appellate courts continued to ignore the most obvious conclusion: presumptions arising from such documents must be scrutinized and rejected if tested by the homeowner.

03/15/23

Moody’s Downgrades Entire U.S. Banking System; Credit Suisse Plummets. Welcome to Banking Crisis 3.0 Wall Street On Parade

Moody’s Downgrades Entire U.S. Banking System; Credit Suisse Plummets. Welcome to Banking Crisis 3.0

The “Related Articles” linked below (a tiny sampling of relevant articles) will remind our readers just how long and in how many different ways we have been attempting to warn that the U.S. banking system was incompetently structured and at risk of systemic contagion. We have also repeatedly warned

03/14/23

New York State is approaching critical mass in eliminating illegal foreclosures Living Lies

New York State is approaching critical mass in eliminating illegal foreclosures

the Foreclosure Abuse Prevention Act (A7737B), recently signed into law by Governor Kathy Hochul, is transformative legislation which may cause the dismissal of thousands of pending foreclosures with prejudice To the delight of court administrators, the changes will cause the permanent dismissal of thousands of foreclosures which have congested the civil docket over the past decade.

03/13/23

Why Homeowners Are Blocked From Access to the Courts Through Effective Counsel Living Lies

Why Homeowners Are Blocked From Access to the Courts Through Effective Counsel

Good trial lawyers will easily understand that they don’t need to prove fraud because it is not their client who is making a claim. They only need to test the evidence to show that there is insufficient evidence to support the inferences and presumptions raised by the current mountain of fabricated, forged, backdated, and robosigned documents (mostly by computers and machines).

03/10/23

How Bullshit Becomes Law: Circular logic in the courtroom snags homeowners almost every time. Living Lies

How Bullshit Becomes Law: Circular logic in the courtroom snags homeowners almost every time.

If you don’t know the rules, you can’t win the game. And remember, to the foreclosure mills and faux servicers and faux trustees”, this is all a game for which we pay every day as owners, taxpayers and consumers.
One of the interesting things about this is how much they get away with by NOT saying something. The affiant says something got mailed, but he doesn’t say that it was mailed by his employer, and therefore, he could not be relying upon ‘business records.”
But he MUST be relying on business records if the testimony for affidavit is to be accepted under the rules (laws) of evidence. Bank of N.Y. v. Morga, 2017 N.Y. Slip Op. 27107 (N.Y. Sup. Ct. 2017). So is he testifying about something he knows or suspects, or just reading from a piece of paper, the origin of which is a complete mystery to him? The inquiry leads to victory. Silence leads to defeat.
In addition, this underscores the problem with the way people and lawyers contest these false claims. By failing to contest the issues that rely on implied facts, homeowners admit them and make real (for legal purposes) that which is unreal. The goal is to stop the foreclosure — not put the opposition in prison.
This is why the QWR, DVL, and Complaint to the CFPB are so very important before filing anything in a legal proceeding.

03/10/23

What COVID Home Equity Repayment Plan Means For Lenders | Insights & Events JD Supra

What COVID Home Equity Repayment Plan Means For Lenders | Insights & Events

The Federal Housing Administration recently issued Mortgagee Letter 2022-23, establishing a new COVID-19 Home Equity Conversion Mortgage Property Charge Repayment Plan.[1]

03/09/23

Homeowners’ Rules of Engagement by Garfield Living Lies

Homeowners’ Rules of Engagement by Garfield

Just to reiterate the strategy I wish to promote (because it has been 65%-80% successful), the rules of engagement are as follows:

03/09/23

Homeowners Lose Millions to 'We Buy Houses' Investors Governing

Homeowners Lose Millions to 'We Buy Houses' Investors

A new report from the Nowak Metro Finance Lab at Drexel University examines the phenomenon of wholesale real estate investors targeting vulnerable homeowners in poor neighborhoods in Philadelphia.

03/09/23

HUD Issues Final Rule to Offer 40-Year FHA Loan Mods DS News

HUD Issues Final Rule to Offer 40-Year FHA Loan Mods

The U.S. Department of Housing & Urban Development (HUD) has published a Final Rule in the Federal Register its intent to increase the maximum allowable term for Federal Housing Administration (FHA)-insured loan modifications from 360 months to 480 months (40 months). The new rule will become effective Monday, May 8, 2023.

03/09/23

Housing Markets In California, Illinois, And East Coast Still Top List Of Areas Around U.S. More Vulnerable To Declines Attom Data

Housing Markets In California, Illinois, And East Coast Still Top List Of Areas Around U.S. More Vulnerable To Declines

IRVINE, Calif. — Mar. 9, 2023 — ATTOM, a leading curator of land, property, and real estate data, today released a Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, foreclosures and other measures in the fourth quarter of 2022. The report shows that inland California, Illinois, New Jersey, and Delaware continued to have some of the highest concentrations of the most-at-risk markets in the country, with the biggest clusters in the New York City and Chicago metropolitan areas. Southern and midwestern states remained less exposed.

03/08/23

U.S. Foreclosure Activity Declines Monthly In February 2023 But Continues To Increase Annually Attom Data

U.S. Foreclosure Activity Declines Monthly In February 2023 But Continues To Increase Annually

IRVINE, Calif. — March 8, 2023 — ATTOM, a leading curator of land, property, and real estate data, today released its February 2023 U.S. Foreclosure Market Report, which shows there were a total of 30,528 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 3 percent from a month ago and up 18 percent from a year ago.

03/08/23

Anonymous Tipster Points Out Resource Info in Support of My Articles Living Lies

Anonymous Tipster Points Out Resource Info in Support of My Articles

Without compromising my journalist credentials, I will simply say that the source is 100% reliable and the information is 100% confirmable. The person is well versed in the accounting and auditing of securitization transactions — and as far back as January 2006, the accounting profession was deeply aware of the inherent problems in the way that securitization was claimed to occur. BUT the accounting profession also saw the opportunity to collect exorbitant fees.

03/07/23

UNGUARDED: The Guardianship Program of Dade sells properties of ‘incapacitated’ people to a Miami realtor, who reaps big gains WLRN

UNGUARDED: The Guardianship Program of Dade sells properties of ‘incapacitated’ people to a Miami realtor, who reaps big gains

When Carlos and Racquel Rodriguez could no longer take care of themselves, the elderly couple from Hialeah came under the supervision of the Guardianship Program of Dade County.

03/07/23

The Reason Why Wall Street Opposes Cram-downs for Personal Bankruptcies Might Surprise You Living Lies

The Reason Why Wall Street Opposes Cram-downs for Personal Bankruptcies Might Surprise You

Recently Forbes published an article by John Wake entitled “Congress Could Have Prevented 500,000 Foreclosures During The Great Recession But Chickened Out.” Echoing what Elizabeth Warren and Katie Porter have been advocating for years, it points out that cramdowns best preserve real loans in which both sides take a hit, but neither side gets a windfall.

03/06/23

“Declarations:” that say nothing: Failure to challenge surrenders all of your rights to defend. Living Lies

“Declarations:” that say nothing: Failure to challenge surrenders all of your rights to defend.

In many cases, some “declaration” or “certification” is issued to support the attempt to achieve a successful result in foreclosure remedies. In none of those cases do the documents actually say anything, but if they are unchallenged, they will be accepted by the courts, admitted in evidence, and the case is effectively over.

03/03/23

Bank of America fights claims of discriminatory foreclosures Homeowners in Hawaii and Florida accuse the bank of scheming to foreclose on their properties, but the bank says they haven't offered clear evidence it had anything to do with the foreclosures. Courthouse News

Bank of America fights claims of discriminatory foreclosures Homeowners in Hawaii and Florida accuse the bank of scheming to foreclose on their properties, but the bank says they haven't offered clear evidence it had anything to do with the foreclosures.

HONOLULU (CN) — Bank of America defended itself Friday at a motion to dismiss hearing on claims the bank deliberately foreclosed on mortgage loans as part of an extensive conspiracy to maximize profits at the expense of people of color in Hawaii and Florida.
The eight lead plaintiffs in the class action, a majority of whom are people of color, say they have been or are currently being foreclosed on, some for nearly two decades. They first leveled racketeering and Fair Housing Act claims against Bank of America and The Bank of New York Mellon in a July 2022 complaint. Although a majority of the plaintiffs’ foreclosure actions occurred in Hawaii, the suit also includes several plaintiffs who went through foreclosures in Florida. Three of the five Hawaii plaintiffs are of Native Hawaiian descent and the three Florida plaintiffs are women of color.

03/03/23

New York lawmakers want to strengthen foreclosure protections Spectrum News

New York lawmakers want to strengthen foreclosure protections

New York lawmakers want to strengthen foreclosure protections for homeowners in parts of the state who are facing displacement due to tax liens on their properties. The lawmakers, state Sen. Kevin Thomas and Assemblywoman Helene Weinstein, have introduced a bill that would provide homeowners at risk of foreclosure due to tax liens the same protections as borrowers who are in residential mortgage foreclosure.

03/03/23

New Law, New Doctrine and Voir Dire of Judges in Bench Trials Living Lies

Are they really mortgage loans? Are they still mortgage loans?

It all comes down to this: ASSUME NOTHING, CHALLENGE EVERYTHING. THE TRUTH IS THAT YOU DON’T KNOW ALL THE ASPECTS OF THE TRANSACTION IN WHICH YOU EXECUTED “LOAN DOCUMENTS” AND YOU DON’T KNOW IF THEY WERE “LOAN DOCUMENTS”. YOU ONLY KNOW THEY HAD A LABEL ON THEM AND YOU WERE EXPECTING A LOAN. THEY WERE LYING THEN AND THEY ARE LYING NOW.

03/02/23

Are they really mortgage loans? Are they still mortgage loans? Living Lies

Are they really mortgage loans? Are they still mortgage loans?

Most of the long-standing transactions with homeowners were falsely dubbed as “mortgage loans.” And most of the false premises are compounded by additional false premises in the form of forbearance, modification, and other agreements that effectively change the name of the designated “lender” and conceal the absence of an unpaid loan account by many layers of “documents” that are fabricated, forged, backdated and robosigned.

03/02/23

Family shot in murder-suicide minutes before being evicted from foreclosed home, sheriff says Fox19

Family shot in murder-suicide minutes before being evicted from foreclosed home, sheriff says

CLERMONT COUNTY, Ohio (WXIX) - Investigators believe Theresa Cain shot her family members, killing three of them, just minutes before deputies arrived to serve them with eviction papers as they were removed from their foreclosed home, Sheriff Steve Leahy said Thursday.

03/02/23

Praying for a miracle: Non-profit sanctuary for farm animals faces foreclosure WLOS

Praying for a miracle: Non-profit sanctuary for farm animals faces foreclosure

YANCEY COUNTY, N.C. (WLOS) — A Western North Carolina animal sanctuary is on the verge of closing. 'Praying for a miracle:' Non-profit sanctuary for farm animals faces foreclosure The Blue Heart Sanctuary in Green Mountain has been in the business of saving animals for more than two decades.

03/01/23

In ‘Year Of Housing,’ Hochul’s Budget Leaves Out Anti-Foreclosure Program NY Senate

In ‘Year Of Housing,’ Hochul’s Budget Leaves Out Anti-Foreclosure Program

The governor’s proposed budget did not include funding for the state-run Homeowner Protection Program, or HOPP, a network of legal service providers and counselors aimed at preventing foreclosures. Program supporters say the omission ‘makes no sense’ as New York grapples with a housing crisis, which Hochul’s administration has centered as a policy focus this year.

03/01/23

Home foreclosures are ticking back up Axios

Home foreclosures are ticking back up

Home foreclosures have ticked back up over the past four months, according to data provider Black Knight. But don't be alarmed — they're still well below pre-2020 levels, and nowhere in the vicinity of the foreclosure crisis of 2008.

03/01/23

The COVID-19 National Emergency is Ending: Are mortgage servicers ready? JD Supra

The COVID-19 National Emergency is Ending: Are mortgage servicers ready?

On January 30, 2023, President Biden informed Congress that the COVID-19 National Emergency (the “COVID Emergency”) will be extended beyond March 1, 2023, but that he anticipates terminating the national emergency on May 11, 2023. The White House

03/01/23

How do you challenge illegal claims to administer, collect or enforce claims arising from transactions with homeowners? Nip It In the Bud! Living Lies

How do you challenge illegal claims to administer, collect or enforce claims arising from transactions with homeowners? Nip It In the Bud!

The basic idea is not to give a single inch. If you do, you lose. Don’t accept a single assumption or presumption as though it was really true. It isn’t. Always focus on what is missing.

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:

02/17/23

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.

01/27/23

The tangled web to deceive Living Lies

The tangled web to deceive

  • The cancer that keeps eating away at the foundation of our economy is the current culture on Wall Street. It involves fake accounts, fake documents, and nonexistent transactions.
  • It involves lawyers who are protected by litigation immunity and who promote false claims on behalf of claimants that have not hired them or even know they exist. We have seen such nonsense multiple times in history. It always ends the same —- with a crash. And apparently, the 2008 crash wasn’t enough because they are still doing it.
  • With a hit tip to summer chic, here is an edited version of what she recently wrote to me.
  • Lone Star reincarnated Countrywide into Caliber and BlackRock – into PennyMac
  • There are at least 10-12 companies preying on each of us at any given time.
  • Elle correctly said – investment banks are not involved in extortion from homeowners – directly. This is probably why Wells is “leaving housing market”
  • They act via numerous intermediaries- hedge funds and fintech who in turn act via fake servicers and fake lenders.
  • That is what Wall Street does – they establish the Scheme to sell securities.
  • Then they destroy all documents about their transactions – after it was imaged and stored in Foley’s database ; and declare it “defaulted”
  • Each prior transaction is stored in this database as defaulted.
  • As many times as the property was sold, refinanced or modified , each time it creates a new string of securities- and this new transaction is named as “defaulted” right away and assigned to so-called “debt buyers” who of course did not buy anything and do not own anyone’s debt.
  • The largest “debt buyer” is BlackRock, who merely is given access to Black Knight’s database and permission to steal as much as they can from homeowners under cover up of “servicers” who merely rent their names for correspondence and “billing statements “
  • Hedge funds also don’t have access to money flow since it’s all done via BL, Fiserv and Exela.
  • Each hedge fund has its own cohort of smaller fintech companies who receive passwords and instructions from main Fintech such as Bkack Knight and Fiserv.
  • The players get paid by Wall Street banks after money is transferred offshore.
  • All details should be investigated by DOJ who of course knows about it.

01/26/23

Script for Tongue-tied pro se litigants and lawyers Living Lies

Script for Tongue-tied pro se litigants and lawyers
A simple truth always applies: Only an experienced trial lawyer can walk into a courtroom and feel comfortable. Everyone else is angry, confused, or terrified, even if they are a lawyer. The consequence is that they either say nothing at all or say nothing that is relevant or persuasive, or both.

01/25/23

CFPB Takes Action to Halt Debt Collection Mill From Bombarding Consumers with Junk Lawsuits Living Lies

CFPB Takes Action to Halt Debt Collection Mill From Bombarding Consumers with Junk Lawsuits
CFPB Takes Action to Halt Debt Collection Mill From Bombarding Consumers with Junk Lawsuits Forster & Garbus illegally sued borrowers on behalf of Citibank and Discover, among others

01/24/23

Fannie Mae and Freddie Mac Announce Major Changes to Mortgage Financing Huntsville Business Journal

Fannie Mae and Freddie Mac Announce Major Changes to Mortgage Financing
New mortgage financing policies from Fannie Mae and Freddie Mac are poised to shake up the housing market for 2023. Loan Level Price Adjustments (LLPAs) are determined by a number of factors, most prominently the borrower’s credit score and debt-to-income ratio (DTI), among others. The new policies concerning LLPAs will reduce the cost incurred for having a lower credit score. There will still be a discrepancy between lower credit and higher credit scores, just not quite so punishing of one. These changes will come into effect for loans guaranteed by Fannie Mae or Freddie Mac, starting on May 1, 2023. While these changes will apply to the majority of loans within the United States, there are some, such as VA loans or “jumbo loans” from credit unions, that will be exempt from these changes.

01/24/23

I’m fighting against homeowners who think they know Living Lies

I’m fighting against homeowners who think they know
Here is an example from one of my more savvy readers who still makes the key error: This person refers to the “Depositor” in the chain of “Securitization” references contained in various documents. None of those entries are legally significant in any way unless they (refer to real-world transactions ) and (b) are contested by homeowners.

01/23/23

How to Speak to the Judge Living Lies

How to Speak to the Judge
I obviously cannot compact 47 years of courtroom experience into a single article or, for that matter, any less time than I spent in courtrooms, conducting thousands of hearings and trials. But I can distill what I think made me successful (most of the time). So I have decided to start suggesting things that pro se homeowners and/or their lawyers should start saying in court — using their own styles and their own feel (“the vibes”) of the judge and the courtroom.

01/20/23

Don’t get lost in the weeds! Living Lies

Don’t get lost in the weeds!
Anyone who watches the Madoff Ponzi documentaries knows that people deluded themselves out of greed. The basis of the Madoff scheme was a huge pile of documentation that was all fake. The “business” was taking money from investors and investing it. Madoff never made a single transction. There was no such business. This is what happened and what is still happening with “loans” that are originated by investment banks though multiple layers of intermediaries. There is no loan business. There is only the business of selling securities. And in doing that, there is no balance due. Millions of homeowners and thousands of lawyers have become lost in the weeds as they overlook the most obvious question: did this transction ever produce an unpaid obligation from the homeowner? Was that obligation ever purchased and sold in a transction between any assignor and assignee or endorser and endorsee? The answer is simply NO! So why do homeowners and their lawyers inisist on paying it?

01/20/23

Were You a Wells Fargo Customer Over Last Decade? You Could Be Entitled to Thousands in Damages Yahoo Finance

Were You a Wells Fargo Customer Over Last Decade? You Could Be Entitled to Thousands in Damages
More than 16 million people are owed some serious cash from Wells Fargo. If you happened to be a customer of the banking institution during the period of 2011 to 2022, this could apply to you, according to CNBC.

01/19/23

What You Need to Know About Foreclosure Rates US News

What You Need to Know About Foreclosure Rates
As a homeowner, homebuyer or aspiring real estate investor, you want to understand the housing market more. Median home prices, mortgage interest rates and average days on market are all valuable metrics to grasping current activity on the market. But how homeowners are able to hold onto their existing properties is just as important.

01/19/23

Wells Fargo might owe you money—here’s how to get it CNBC

Wells Fargo might owe you money—here’s how to get it
If you had a Wells Fargo account between 2011 and 2022, you might be one of the 16 million customers who qualify for damages, says the Consumer Financial Protection Bureau (CFPB). As part of a $3.7 billion settlement, Wells Fargo has agreed to pay more than $2 billion directly to customers harmed by “illegal activity,” ranging from incorrect overdraft fees to wrongful foreclosures, according to the CFPB.

01/19/23

Did You Ever Wonder What It Takes to Enjoin a Foreclosure Sale? DSNews

Did You Ever Wonder What It Takes to Enjoin a Foreclosure Sale?
With inflation on the rise and the economy slowing, foreclosures are unfortunately likely to increase. With more foreclosures, there will likely be a rise in borrowers’ suing at the last minute to stop the foreclosure. In fact, our firm has already started to see a substantial uptick in requests for the court to issue a Temporary Restraining Order (TRO) to stop an impending foreclosure sale. Since the requirements to obtain a TRO differ in every state, this article will help loan servicers and investors (collectively, “lenders”) understand the varying TRO processes.

01/19/23

EVERYONE LIES IN THE MARKETPLACE — THE GOVERNMENT IS NOT DOING ITS JOB Living Lies

EVERYONE LIES IN THE MARKETPLACE — THE GOVERNMENT IS NOT DOING ITS JOB
The basis for most big business plans is to give the consumer the worst possible product or service while convincing the same consumer that the cost is inevitable and the product or service is excellent. This produces something that Alejandro Reyes of Deutsch Bank called a “counter-intuitive” system. This term has been widely adopted, even if not accurate. It basically another word for lying.

01/19/23

In 16 Years, the Fed Has Approved 4,506 Bank Mergers and Denied One Wall Street On Parade

In 16 Years, the Fed Has Approved 4,506 Bank Mergers and Denied One
On Tuesday, Jerome Powell’s Federal Reserve once again thumbed its nose at President Biden’s antitrust directive regarding the creation of more mega banks through merger. This time around, the Fed allowed the Bank of Montreal, with assets of $834 billion, and its subsidiary, BMO Financial, to gobble up Bank of the West, based in San Francisco. Following the merger, Bank of the West is to be merged into Bank of Montreal’s subsidiary bank, BMO Harris Bank.

01/18/23

CFPB says servicers should offer loss mitigation beyond COVID hardships American Banker

CFPB says servicers should offer loss mitigation beyond COVID hardships
The Consumer Financial Protection Bureau said it expects mortgage servicers to continue offering forbearances, deferrals and loan modifications to consumers experiencing financial hardships unrelated to the COVID-19 pandemic.

01/18/23

Four Crypto-Friendly Banks Are Being Bailed Out with Billions from a Federal Housing Program Wall Street On Parade

Four Crypto-Friendly Banks Are Being Bailed Out with Billions from a Federal Housing Program
Remember those Fed bailouts of the mega banks on Wall Street during and after the 2008 financial crisis that the Federal Reserve battled in court for years to keep secret from the American people? Those bailouts went to the same Wall Street mega banks that collapsed the U.S. economy with their unbridled greed and unchecked corruption. The banks were even allowed to pay big bonuses to their execs with the bailout funds. When Senator Bernie Sanders forced the bailout details into the sunlight with a mandated government audit, the findings were so revolting that Senator Sanders had this to say:

01/18/23

FIRST DEFINE YOUR TERMS Living Lies

FIRST DEFINE YOUR TERMS
Plato said (maybe it was Aristotle), first, define your terms. Unless you use the terms correctly- and not just the way you want to use them- you will not make sense in any court. As soon as you open your mouth, you will be revealing that you either don’t know or don’t care about the rule of law. And as soon as you do that, you are inviting the judge to give no weight to your argument or evidence. It’s not up to the judge to clarify what you are trying to say.

01/17/23

FOIA Requests Reveal the Truth About JPMC-WAMU “Purchase” Living Lies

FOIA Requests Reveal the Truth About JPMC-WAMU “Purchase”
The bottom line is that JPM Chase did not actual purchase or pay for anything. The net “price” was negative including an IRS refund due to WAMU but transferred to JPMC.JPMC did acquire the book value assets and liabilities of WAMU and subsidiaries, but there was was litttle in the way of book value for assets which would have included loans — if there were any “loans” (debts+notes + mortgage liens) that were owned by WAMU at the time of its collapse..

01/16/23

A Perfectly Good Deed Can Result in a Perfectly Bad Title Living Lies

A Perfectly Good Deed Can Result in a Perfectly Bad Title
In an article by New Jersey attorney Dennis M. Gonski | Updated on March 18, 2009, the qualities of “real title” are clearly specified. His “wild deed” commentary applies equally well to promises of title or implied promises of title to liens. My point in directing your attention to this article is that Gonski takes on the most popular misconception: that the paper instrument is the event. If that were true, the Brooklyn Bridge would belong to thousands of people.

01/13/23

Wells Fargo suffered 50% profit loss during the fourth quarter FOX Business

Wells Fargo suffered 50% profit loss during the fourth quarter
Following Wells Fargo's $3 billion penalty over a financial scandal, the bank reported a 50% loss in profit for the fourth quarter. News of the profit drop affected Wells Fargo's remarket stock, which fell by 4% Friday morning. The bank's quarterly earnings report indicated a 67-cent per-share profit for Dec. 31, which is significantly behind the $1.38 per share from the same period last year.

01/13/23

MD Adopts Changes to Residential Foreclosure Procedures JDSUPRA

MD Adopts Changes to Residential Foreclosure Procedures
Maryland recently adopted what it characterizes as nonsubstantive changes to clarify previous regulatory amendments (adopted July 22, 2022) regarding foreclosure procedures for residential property. The adopted regulatory amendments, including these recent changes, are effective March 1, 2023.

01/13/23

The Case for Discipline of Attorney Who Present False Claims in Support of Foreclosure Living Lies

The Case for Discipline of Attorney Who Present False Claims in Support of Foreclosure
Lawyers are not permitted to make up claims and file lawsuits or other processes to seek a remedy. They must be representing a client who is the owner of the claim. In foreclosure, this is not the case. Wall Street has weaponized the necessary standard protections for lawyers into a vehicle for promoting false claims.

01/12/23

U.S. Foreclosure Activity Doubles Annually But Still Below Pre-Pandemic Levels Atom Data

U.S. Foreclosure Activity Doubles Annually But Still Below Pre-Pandemic Levels
IRVINE, Calif. – Jan. 12, 2023 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its Year-End 2022 U.S. Foreclosure Market Report, which shows foreclosure filings— default notices, scheduled auctions and bank repossessions — were reported on 324,237 U.S. properties in 2022, up 115 percent from 2021 but down 34 percent from 2019, before the pandemic shook up the market. Foreclosure filings in 2022 were also down 89 percent from a peak of nearly 2.9 million in 2010.

01/12/23

Beware Motion for Substitutions of Trustees, Plaintiffs and Credit Bidders! Living Lies

Beware Motion for Substitutions of Trustees, Plaintiffs and Credit Bidders!
By laundering the title to the recorded lien AFTER the homeowner has failed to derail the false claim, the foreclosure mills have lulled most homeowners and most lawyers and judges into a state of complacency wherein they miss the fact that the new substitution — often without permission of the court — is an admission that the homeowner’s defense narrative was correct from the beginning.

01/11/23

CFPB Proposes Rule to Establish Public Registry of Terms and Conditions in Form Contracts That Claim to Waive or Limit Consumer Rights and Protections Living Lies

CFPB Proposes Rule to Establish Public Registry of Terms and Conditions in Form Contracts That Claim to Waive or Limit Consumer Rights and Protections
CFPB Proposes Rule to Establish Public Registry of Terms and Conditions in Form Contracts That Claim to Waive or Limit Consumer Rights and Protections

01/11/23

Katherine Ann Porter, champion of homeowners and consumers, is running for Senate. If you care about foreclosure fraud you should support her bid for Senate Living Lies

Katherine Ann Porter, champion of homeowners and consumers, is running for Senate. If you care about foreclosure fraud you should support her bid for Senate
It is no exaggeration that Katie Porter is why this blog started. While at the University of Iowa, she conducted a study with startling revelations. The discovery that original promissory notes were destroyed most of the time made it possible for thousands of homeowners to defend their homes from false claims seeking foreclosure successfully.

01/10/23

Wells Fargo, once the No. 1 player in mortgages, is stepping back from the housing market CNBC

Wells Fargo, once the No. 1 player in mortgages, is stepping back from the housing market
Wells Fargo is stepping back from the multitrillion-dollar market for U.S. mortgages amid regulatory pressure and the impact of higher interest rates. Instead of its previous goal of reaching as many Americans as possible, the company will now focus on home loans for existing bank and wealth management customers and borrowers in minority communities, CNBC has learned.

01/10/23

KEEP IT SIMPLE. DON’T GET LOST IN THE WEEDS Living Lies

KEEP IT SIMPLE. DON’T GET LOST IN THE WEEDS
The practice hint for all this is NOT to trace all the layers and steps. The question in the case at bar in every foreclosure is whether there is an identified claimant with a claim based on the existence of an unpaid loan account (collateral account) on its own ledgers

01/09/23

Paatalo: If you don’t think judges will listen, think again Living Lies

Paatalo: If you don’t think judges will listen, think again
Skeptics often confront me to say that judges refuse to listen to their arguments. My response is always the same. But nobody likes the answer. Judges will listen if you have something relevant to say, and you are saying it in proper form and in a timely manner. Both homeowners and lawyers fail to present appropriate arguments because they insist on admitting to the existence of a nonexistent debt. The rest is a “yes, but” defense that rarely produces anything other than frustration.

01/09/23

Banking Lesson to Aid Homeowners in Discovery or Statutory Demand Letters Living Lies

Banking Lesson to Aid Homeowners in Discovery or Statutory Demand Letters
Homeowners and their lawyers look at a canceled check and understandably and reasonably come to an erroneous conclusion. They think the check shows who physically received the check, who deposited it into a depository account, and who owns that account.

01/09/23

What new supervised institutions need to know about working with the CFPB CFPB

What new supervised institutions need to know about working with the CFPB
While the CFPB has longstanding supervisory relationships with many institutions, we also conduct exams or other supervisory activities at companies for the first time. Here’s what newly supervised institutions can expect from a supervisory relationship with the CFPB.

01/09/23

New York Enacts Retroactive Foreclosure Legislation JDSUPRA

New York Enacts Retroactive Foreclosure Legislation
While many around the world are setting their calendars forward for the year 2023, residential mortgage loan owners and servicers may need to also look backward in time now that New York Governor Kathy Hochul signed the so-called “Foreclosure Abuse Prevention Act” (S5473) into law on December 30, 2022. The new law, which takes effect immediately, threatens to significantly constrain the ability of lenders, servicers and investors to efficiently prosecute foreclosure actions and potentially jeopardizes their ability to recover their mortgage debt with respect to not only foreclosures initiated after the law took effect but also foreclosure actions which were pending as of December 30.

01/08/23

Then Again: After the Revolution, debt crisis triggered extreme unrest VT Digger

Then Again: After the Revolution, debt crisis triggered extreme unrest
The end of the American Revolution brought Americans peace. But prosperity? Not so much.
Waging and winning a war with Britain had run the new nation heavily into debt. Worse yet, Britain seemed to take the whole business of losing rather poorly, and continued the conflict by inflicting economic pain on its former colonies. The British cut off American access to important markets in the West Indies, which would have helped the new country pay off its debts.
People felt the separation from Britain keenly when they tried to settle their own debts. When the British left, so did easy access to British coinage, which is what creditors demanded for repayment. They weren’t interested in bartering for goods or accepting paper money issued by the various state governments, because those notes were worth just a fraction of their face value. Therefore, many people faced debts they had no way of repaying.
Actually, courts ruled they still had one way to pay: Judges regularly intervened and foreclosed on debtors’ property.
From the creditors’ perspective, what was not to like about this arrangement? They got their money back. The people losing their farms, however, understandably felt differently.
In 1786, outrage over the debt crisis triggered some of the most extreme civil unrest the United States has seen. It also sparked uprisings in Vermont, which wasn’t actually part of the United States yet — it wouldn’t become a state for five more years.
Shays-Rebellion A debtor and a tax collector scuffle outside the courthouse in Springfield, Massachusetts. Indebtedness — and the foreclosures that sometimes followed — became a major issue in the years immediately following the American Revolution. The issue spurred a popular revolt in Massachusetts known as Shays’ Rebellion, as well as a series of physical clashes at Vermont courthouses and verbal clashes in the state Legislature. Wikimedia Commons

01/08/23

Legal clinics embody spirit of MLK Newsminer

Legal clinics embody spirit of MLK
To the editor: If the pandemic has taught us anything it is how much we need each other. Businesses need workers. Children need teachers. The sick need doctors and nurses. Most of us need a professional hairdresser.
And to confront a legal problem — you need an attorney. Regrettably, thousands of Alaskans face legal challenges every year without the resources to hire an attorney or access to limited legal aid. Filling that gap falls to attorneys willing to volunteer their time pro bono.
On Jan. 16, 2023, attorneys across the state will be spending their Martin Luther King, Jr. holiday as “A Day On, Not a Day Off” by volunteering for the fourteenth annual Martin Luther King Jr. Day Legal Clinics.
At these free in-person clinics in Anchorage, Fairbanks, Juneau and Bethel, Alaskans with civil legal problems can expect first come, first serve consultations with an attorney.

01/07/23

CFPB Closes 2022 with $3.7 Billion Consent Order Against National Bank JDSUPRA

CFPB Closes 2022 with $3.7 Billion Consent Order Against National Bank
Just prior to the close of 2022, the CFPB issued a Consent Order against one of the nation’s largest banks regarding the institution’s automobile loan servicing, mortgage servicing, and consumer deposit account activities dating back to 2011. The Bureau’s Order requires the bank to provide more than $2 billion to consumers harmed by various violations of the CFPA, and a $1.7 billion penalty to be paid to the Bureau’s Civil Penalty Fund. With respect to mortgage servicing specifically, the Bureau alleged that the bank harmed consumers by improperly denying mortgage loan modification applications and erroneously miscalculating mortgage-related fees and other charges.

01/06/23

Protections against foreclosure abuse in New York approved by Hochul Spectrum Local News

Protections against foreclosure abuse in New York approved by Hochul
Provisions meant to strengthen protections against abuse in the foreclosure process are set to take effect after Gov. Kathy Hochul's approval of a law addressing a top court ruling lawmakers have argued weakened safeguards for consumers.

01/06/23

How to respond to idiotic non-responses received to QWR, DVL and CFPB complaint Living Lies

How to respond to idiotic non-responses received to QWR, DVL and CFPB complaint
People often say that using the QWR and DVL is useless because you don’t get any answers. But that is exactly my point. It is like pleading the 5th. In a civil proceeding, the refusal to answer raises any inference implied by the question asked. Whoever you are out there, stop trying to prove something.

01/05/23

After 16 Months, There Are Still No Arrests in the Fed’s Trading Scandal Wall Street On Parade

After 16 Months, There Are Still No Arrests in the Fed’s Trading Scandal
This coming Saturday will mark the 16-month anniversary of former Wall Street Journal reporter Mike Derby setting off a media firestorm with his reporting that the then President of the Dallas Fed, Robert Kaplan, had “made multiple million-dollar-plus stock trades in 2020,” a year in which Kaplan was a voting member of the Fed’s Federal Open Market Committee (FOMC) with access to inside information.

01/05/23

The case for Continuing Education mandate for public officials Living Lies

The case for Continuing Education mandate for public officials
Even judges are sent to school before they take the bench. For the last few decades, every catastrophic economic event has been the direct result of the declining use of experts and the politicization of bare-bones facts. It was not malpractice tor repeal the Glass Steagall act or to waive the normal and customary rules governing the issuance of securities when it came to “derivatives” that were so broadly defined that it is difficult to imagine how any security is subject to SEC regulation.

01/04/23

The difference between the debt and the note: the $20 trillion gift to securities brokerage firms on wall street. Living Lies

The difference between the debt and the note: the $20 trillion gift to securities brokerage firms on wall street.
Why would anyone allow the forced sale of a home to satisfy a claim for that remedy if the claimant had no right to receive any compensation or restitution from the homeowner?

01/03/23

New Consumer Law Rights Taking Effect in 2023 NCLC

New Consumer Law Rights Taking Effect in 2023
CONTENTS November 17, 2022: Student Loans; Bankruptcy
December 1, 2022: Bankruptcy
December 5, 2022: Arizona Exemptions, Medical Debt
December 15, 2022: HECM Reverse Mortgages
December 27, 2022: Bankruptcy
December 31, 2022: Student Loans; USDA Loan Modifications
January 1, 2023: TILA; FCRA; CLA; HMDA; FHA Loans; Minimum Wage and Wage Garnishment in 27 States; California Various Provisions; District of Columbia Debt Collection; Georgia Retail Crime; Michigan Loans; Nebraska Exemptions; New Mexico Loans; South Dakota Annuities; Virginia Data Privacy
February 15, 2023: Colorado Hospital Collections
March 1, 2023: VA Mortgages
March 10, 2023: Federal Credit Union Interest Rates
March 30, 2023: Reporting of Medical Debt
April 21, 2023: Colorado School Transcripts
June 9, 2023: FTC Safeguards Rule
June 30, 2023: LIBOR
July 1, 2023: Federal Student Loans; VA Mortgages; California Coerced Debt; Colorado Data Privacy; Connecticut Data Privacy; Michigan Property Taxes
July 3, 2023: Alternative Indices for Adjustable-Rate Loans
July 2023: FCC Limits on Robocalls
August 9, 2023: Colorado Homeowner Association Collections
August 29, 2023: Federal Student Loan Payment Pause??
September 1, 2023: TILA Disclosures re Index Rates; California Garnishment; Minnesota Debt Collection
December 1, 2023: Bankruptcy
December 31, 2023: Utah Data Privacy

01/03/23

If you think these pages contain theories and not facts, read the websites of the parties named as “trustees” of “securitized” trusts for “securitized” mortgages Living Lies

If you think these pages contain theories and not facts, read the websites of the parties named as “trustees” of “securitized” trusts for “securitized” mortgages
This is a zero-sum game, but not in a good way. There is nothing on the side of the grantor and there is nothing on the side of the grantee. The trust, trustee, and servicer have nothing. And the attorney has not heard from or been hired by any of them. Start with the supposition that all assertions or implications of assertions you are receiving from “servicers” or lawyers who say they present a trust or trustee are all lies.

01/02/23

Don’t allow judicial notice to be an end run around the rules of evidence Living Lies

Don’t allow judicial notice to be an end run around the rules of evidence
One of the tricks played by lawyers who work for foreclosure mills is to use a motion for the court to take judicial notice of a certain document. While it is usually technically construed only as the document exists, it is practically construed as a memorialization of true facts.

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