Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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12/26/19

Massachusetts Appeals Court Holds That a Tenant who is a Complete Stranger to Title Has Standing to Challenge the Validity of a Foreclosure Within the Context of an Eviction Action
On October 24, 2019, the Massachusetts Appeals Court issued a decision holding that any tenant in possession of the property post-foreclosure has standing to challenge the validity of the foreclosure. U.S. Bank Trust, N.A. as Trustee v. Kelly A Johnson et al., No. 19-P-317, Mass. App. Ct. (Oct. 24, 2019) (Green, C.J., Maldonado, & Hand, JJ.).

12/26/19

U.S. Bank Trust, N.A. v. Johnson
The case follows.

12/26/19

Damages Under Dodd-Frank: Federal Court Awards CFPB $59 Million in Unprecedented Penalties and Restitution Analysis
So much to say, so little time. Historically groundbreaking, a federal court in Madison, Wisconsin engaged in the most robust, methodical damages analysis under the Consumer Financial Protection Act, found in Title X of the Dodd-Frank Act, that had ever been undertaken in recent years.

12/26/19

BELATED CHRISTMAS PRESENT … WHEN WITNESSES DON’T HAVE PERSONAL KNOWLEDGE
Here’s an interesting take on an older 2019 case, which by the way was just recently “Shepardized” only to discover it’s still “standing” and hasn’t been reversed and it has to do with what a witness knows and is able to testify to versus what that same witness doesn’t know.

12/24/19

This was supposed to be the decade of tougher consumer protections. That didn’t happen
To sum up the past decade, you could call it a tale of two presidents. For evidence of that, look no further than the Dodd-Frank Wall Street Reform and Consumer Protection Act.

12/24/19

Wall Street On Parade’s
Ongoing Series on the Federal Reserve’s
2019 Bailout of Wall Street
(Latest articles appear first.) New York Fed Plans to Throw $2.93 Trillion at Wall Street’s Trading Houses Over Next Month as New York Times Remains Silent...

12/23/19

TILA Claims Can be Raised in Recoupment – Defensively As Russ Baldwin and other lawyers have pointed out, borrowers can raise and use TILA violations and maybe FDCPA violations defensively even if they are otherwise barred as affirmative claims. The way it works is simple —

12/20/19

Statement of ABA President Judy Perry Martinez Re: Increased funding for Legal Services Corporation WASHINGTON, Dec. 20, 2019 – The American Bar Association applauds Congress for increasing funding to the Legal Services Corporation. In the budget bill approved this week,

12/20/19

JPMorgan and Goldman, Under Criminal Probes, Close in the Red Despite Trading their Own Bank Stocks in their Own Dark Pools All three major stock indices set new highs yesterday. The Nasdaq led with a 0.67 percent gain; the Dow Jones Industrial Averaged closed with a 0.49 percent increase while the S&P 500 inched up 0.45 percent. Stocks have been setting new highs all week as the New York Fed funnels tens of billions of dollars each day to Wall Street’s

12/20/19

SCOTUS: FDCPA Claims Must Be Filed Within One Year of Date of Violation, Not Discovery of Violation — maybe Three Key Takeaways The FDCPA’s statute of limitations ordinarily begins to run when the violation occurs, not when it is discovered.

12/18/19

Banks are using “settlement” as a means to fill title gaps. Don’t fall for it. So what the bank lawyers are trying to do is put us to sleep with the legalese wording and essentially appear to be saying one thing when in fact they are saying something completely different.

12/18/19

They Made a Killing on the Mortgage Crisis. Now They Run Trump’s America. Some of the same men who profited big-time off of predatory foreclosures during the Great Recession are now in Trump’s inner circle. They serve in his cabinet and count themselves among his best friends.

12/16/19

Bankers Are Playing With Fire, Once Again In an interview, ex-FDIC chief Sheila Bair says weakening the post-crisis rules is wrongheaded and that a Monte Paschi-type event could happen again.

12/16/19

Defending Foreclosure is Practice Not Theory: Discovery is the Key I’m not sure why there are people who are calling my approach theoretical. My focus is strictly practical — using the rules of civil procedure to expose the truth of the matter asserted.

12/13/19

90-Day Pre-Foreclosure Notice: The Mega Defense To Destroy a Residential Mortgage Foreclosure Action The 90-day notice is a powerful defense that can result in dismissal of a residential foreclosure action. The law, however, is rapidly changing. New York Real Property Actions and Proceedings Law §1304 requires a lender, assignee, or mortgage loan servicer to mail a notice advising the borrower(s) that his or her home is at risk of foreclosure.

12/13/19

Startup plans to allow consumers to purchase homes without a mortgage One new Los Angeles-based investor-backed startup is claiming it will get Americans into homes without requiring a mortgage.

12/13/19

The Bipartisan Profiteers Who Demolished the American Dream The 2008 housing meltdown that effectively busted the American dream of home ownership has morphed into a new heist based on corporate rental empires with all the same culprits.

12/13/19

Here is the Debt: Securitization Shell Game Yes ownership of the debt and payment for the debt, for the first time in history is actually split contrary to law. Under current law it is impossible to own the debt without paying for it.

12/11/19

Getting a Foreclosure Defense Lawyer is a Process There are many good lawyers in all States. However most lawyers refuse to take engagements for foreclosure defense. They can be convinced otherwise if they receive

12/10/19

Investors Were Not Injured By Non Payment from Homeowners. They Were Injured by Non Payment from Investment Banks The trap door is thinking that investors were hurt by borrowers failing to make payments when in fact they were injured by brokerage companies not paying them regardless of how much money was being received and created.

12/09/19

BIS Drops a Bombshell: Four U.S. Mega Banks Are Core of Repo Loan Crisis Yesterday, the Bank for International Settlements (BIS) dropped a bombshell report that torpedoed the Federal Reserve’s official narrative on what has caused the overnight lending market

12/09/19

Banks and Foreclosure Mills Stepping Up Attacks on LivingLies Through Proxies Apparently my most recent posts have produced a flurry of activity from proxies who are supported by investment banks acting through their conduit Servicers and Foreclosure Mills.

12/09/19

Fannie Mae, Freddie Mac watchdog prepping for "massive IPO" The watchdog for Fannie Mae and Freddie Mac is interviewing Wall Street firms to handle a public offering of the shares of the nation’s two largest mortgage

12/09/19

Did U.S. steal $300 billion from investors in ‘coercive’ takeover of Fannie Mae, Freddie Mac? The depressed share prices of Fannie Mae and Freddie Mac have perked up a bit this year, while a legal challenge to the way the U.S. Treasury has collected billions of dollars from the home-loan finance giants

12/07/19

Nims v. Bank of New York Mellon - Oral Argument Obsolete Mortgage Statute On December 03, 2019, the Massachusetts Appeals Court held oral argument on Nims v. Bank of New York Mellon as Trustee, et. al, Ca. No. 2019-P-0179.

12/06/19

Foreclosure Attorneys Introduced to Trial Practice Some New York courts have increasingly ordered risk-averse foreclosure plaintiffs to go to trial. These trials frequently conclude in dismissal and require the plaintiff to recommence the action within the time constraints of an eclipsing statute of limitations.Al Degatano is a Senior Court Attorney Referee in the Foreclosure Settlement Conference Part and the Foreclosure Trial Part in Westchester County.

12/06/19

The Eerie Similarities Between American Homeowner Foreclosure and the US House Impeachment Inquiry(s) For over a decade, American Homeowners have been fighting the corruption that stems from the banks to legislators and down through the judiciary… and all the way up to the top of the political chain.

12/06/19

Why Are We Still Dealing with Aurora and Lehman? Keep in mind that Aurora is a subsidiary of Lehman. They are both in Bankruptcy but are being kept technically alive in BKR court for the sole purpose of making actions appear to be legitimate attempts to collect a debt.

12/06/19

Bombshell Report: The Fed Has Not Rejected One Bank Merger Application Out of 3800 Submitted in Past 11 Years In advance of its December 4 hearing to question if federal bank regulators are adequately watching over the nation’s banks, the House Financial Services Committee

12/05/19

“Smoking Gun” Proof That JPMorgan Chase Never Acquired Beneficial Interest In My WaMu Loan Through The FDIC This little piece of production in my Oregon Ejectment Action just confirmed what I have been testifying to since day-one: Chase acquired no ownership of loans that WaMu sold and securitized prior to the September 25, 2008 takeover by the FDIC.

12/04/19

'I would have thought there’d be a revolution in the streets:' author Michael Lewis on Trump's dismantling of the CFPB As the decade comes to a close, Michael Lewis, author of “The Big Short,” is taking a look back at bank regulation since the financial crisis of 2008.

12/04/19

The repo market is ‘broken’ and Fed injections are not a lasting solution, market pros warn The Federal Reserve’s ongoing efforts to shore up the short-term “repo” lending markets have begun to rattle some market experts. The New York Federal Reserve has spent hundreds of billions of dollars to keep credit flowing through short term money markets since mid-September when a shortage of liquidity caused a spike in overnight borrowing rates. But as the Fed’s interventions have entered a third month, concerns about the market’s dependence on its daily doses of liquidity have grown.

12/04/19

Mortgage industry maintains compliance under Trump administration But is it because there are less regulations to comply to?

12/04/19

Post Judgment Assignments Continue to Baffle Homeowners and Foreclosure Defense Lawyers Charles Koppa in San Diego was the first person to point out to me that the activities after even a nonjudicial sale told the real story about the what was going on.

12/03/19

7th Circuit Affirms $582,000 Punitive Damages Against Ocwen We are not sure how many human errors a company like Ocwen gets before a jury can reasonably infer a conscious disregard of a person’s rights, but we are

12/02/19

Early-bird special: CFPB to reward firms that quickly fix violations The Consumer Financial Protection Bureau is planning to give companies accused of wronging consumers a chance to get released early from consent orders.

12/02/19

How securitization affects defense strategy in securitization cases. A new set of lawyers is coming into the marketplace and they smell blood. They are seeking guidance and they are up for making money and winning

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