Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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03/31/21

The Difference Between a Hearsay on Hearsay “Report” and a Legally Admissible Accounting Record Living Lies

The Difference Between a Hearsay on Hearsay “Report” and a Legally Admissible Accounting Record
A report is not a record. It is a statement made about a record and it is by definition a statement made out of court by often unknown persons. That means it is at least hearsay and probably lacking in the foundation since the person who made entries from which the report was generated is unknown and cannot be questioned.

03/31/21

Courts Are Wasting Time, Not Saving It: Apply the rules of evidence and both claims and defenses will fall. Living Lies

Courts Are Wasting Time, Not Saving It: Apply the rules of evidence and both claims and defenses will fall.
The excuse for the sloppy ways that the rules of civil procedure and the rules of evidence are applied in a case where the foreclosure process is invoked has always been “limited judicial resources.”

03/30/21

The Case Against Foreclosure Mill Law Firms and Attorneys Living Lies

The Case Against Foreclosure Mill Law Firms and Attorneys
How is a foreclosure rescue scam any worse than a foreclosure theft scam? Or the real question — why is one scam punished and the other is rewarded with government help?

03/29/21

Basics of Trust Administration Living Lies

Basics of Trust Administration
What exactly does U.S. Bank, Deutsch Bank or Bank of New York Mellon “as trustee” do for “REMIC Trusts”? It might be as simple as nothing at all.

03/29/21

CDC will extend national eviction ban through June 30 CNBC

CDC will extend national eviction ban through June 30
The Centers for Disease Control and Prevention has extended the national ban on evictions through the end of June.

03/28/21

Credit Suisse Owned Select Portfolio Servicing Busted! Servicer Accused Of Jerking Around Black Homeowners, Again! MFI-Miami

Credit Suisse Owned Select Portfolio Servicing Busted! Servicer Accused Of Jerking Around Black Homeowners, Again!
Select Portfolio Servicing is busted jerking around people of color. This isn’t the first time. I’ve written about this multiple times. However, this time it was WFTV Reporter Todd Ulrich in Orlando who busted them. Ulrich also received the run around from SPS. As a result, he reached out to me for assistance.

03/27/21

We can't suspend evictions and foreclosures forever CNN

We can't suspend evictions and foreclosures forever
As the coronavirus shuttered much of the nation's economy last year, policymakers imposed a moratorium on evictions and foreclosures to keep millions of families from losing their homes.

03/26/21

How to Attack Facial Validity of Lawsuits, Summons and Other Foreclosure Documents Living Lies

How to Attack Facial Validity of Lawsuits, Summons and Other Foreclosure Documents
“Facial validity” consists of two words that are usually completely misunderstood in courts of law and frequently either misused or abused by the proponents of false claims on behalf of the false claimant or butchered by either neglect or inexperience by homeowners and their lawyers. And sadly most judges overapply it even in the face of gross abnormalities and fatal deficiencies.

03/25/21

Servicers are Not Servicers: Their Reports Are Not Business Records Living Lies

Servicers are Not Servicers: Their Reports Are Not Business Records
Since the reports presented in court are generally NOT made in the ordinary course of the “servicer’s” business they are inadmissible hearsay.

03/25/21

Congress Introduces Resolution to Rescind OCC’s “Fake Lender” Rule, Which Protects Predatory Lenders’ Evasions of State Interest Rate Limits NCLC

Congress Introduces Resolution to Rescind OCC’s “Fake Lender” Rule, Which Protects Predatory Lenders’ Evasions of State Interest Rate Limits
WASHINGTON, D.C. – Advocates at the National Consumer Law Center today applauded Senator Chris Van Hollen (D-MD), Senator Sherrod Brown (D-OH), and Congressman Jesus “Chuy” García (D-IL-4) for their plans to introduce Congressional Review Act (CRA) resolutions to eliminate a Trump-era regulation that helps lenders charging 179% APR or more evade state- and voter-approved interest rate caps. The resolutions are expected to be introduced today in the Senate and tomorrow in the House of Representatives.

03/25/21

OCC: Mortgage Performance Declines in Fourth Quarter ABA Banking Journal

OCC: Mortgage Performance Declines in Fourth Quarter
The share of current and performing first-lien mortgages in the fourth quarter of 2020 was 93.3%, down from 96.5% a year ago, according to the Mortgage Metrics Report released by the OCC today. Mortgage performance in the fourth quarter declined from a year ago as a result of the COVID-19 pandemic according to the report.

03/25/21

Then here I get hit in the face with this’: Homeowners claim mortgage terms not what they agreed to WFTV

Then here I get hit in the face with this’: Homeowners claim mortgage terms not what they agreed to
APOPKA, Fla. — An Apopka man claims he paid off his mortgage, but now the lender is demanding five more years of payments, and he feels the company is holding his home hostage. He says the loan servicing company refuses to give him answers, so he called Action 9.

03/23/21

On One Day Last Year, the Fed Had $495.7 Billion in Loans Outstanding to Unnamed Wall Street Trading Houses Wall Street On Parade

On One Day Last Year, the Fed Had $495.7 Billion in Loans Outstanding to Unnamed Wall Street Trading Houses
Yesterday the Federal Reserve released its “audited” financial statements with the following caveat, among numerous others:

03/23/21

Should States Be Obligated to Assign and Pay for Counsel to Defend Foreclosures? Living Lies

Should States Be Obligated to Assign and Pay for Counsel to Defend Foreclosures?
By presuming that virtually all defenses to foreclosures, other than payment, are without merit and futile, and by administering discipline or injunctions to lawyers who prove otherwise, the state has created a gap that only the state or Federal government can fill.

03/22/21

Investment banks are pushing technical agenda on “integrated records” that would deny homeowners’ due process. Living Lies

Investment banks are pushing technical agenda on “integrated records” that would deny homeowners’ due process.
When you lose your home in foreclosure, it is an involuntary gift to an investment bank that has already earned 12 times the amount of the transaction with you. The investment bank does NOT record the interest, principal or forced sale payment on any loan account receivable because there is no such account.

03/19/21

The New Untouchables Real Progressives

The New Untouchables
Real Progressives and the creators of “The Con” present a new series, “The New Untouchables:? The Pecora Files,” meticulously detailing the rampant financial fraud that has been poisoning our economy for the last century, and?what is to be done?about it.? “The Con” took a simple but revolutionary approach to explaining the epidemic of elite fraud driving the great financial crisis of 2007-2008. The New Untouchables presents the heroes, one at a time, who sought to prevent it and hold the elite predators accountable. New episodes every Sunday 8pm ET / 5pm PT View the trailer, then scroll down to binge the latest episodes!

03/19/21

With Forbearance Periods Ending, Corelogic Looks at Options for Borrowers to Exit Mortgage News Daily

With Forbearance Periods Ending, Corelogic Looks at Options for Borrowers to Exit
The number of loans in forbearance experienced the largest weekly decline since early January as servicers reviewed the hundreds of thousands that are due to expire at the end of March.

03/19/21

What You can Do About The Difficulty With Finding and Hiring an Attorney Living Lies

What You can Do About The Difficulty With Finding and Hiring an Attorney
It’s not difficult to identify the beneficiary of this phenomenon: it’s the Wall Street investment banks that are falsely claiming to have securitized transactions with homeowners that are falsely represented and labeled as loans.

03/18/21

Report: Foreclosures climb in February, still historically low The Title Report

Report: Foreclosures climb in February, still historically low
U.S. foreclosure filings saw an uptick in February, but they are still down considerably from a year ago, thanks to the pandemic foreclosure moratoriums.

03/17/21

Basic Premise in Foreclosure Defense: Documents Are Not Events Living Lies

Basic Premise in Foreclosure Defense: Documents Are Not Events
The fundamental error of most homeowners, lawyers, and frankly judges, is the failure to distinguish between the real world and the fictional world portrayed by documents in front of them.

03/16/21

Powerful alternatives to predatory lenders: Postal Service banking and public banks Chicago Sun Times

Powerful alternatives to predatory lenders: Postal Service banking and public banks
The payday and auto title loan industry exists only because vast swaths of the United States lack even one traditional bank in the community. It is that simple.

03/16/21

Our Ignorance Has Created a System That Chills Homeowner Access to Courts and Attorneys Living Lies

Our Ignorance Has Created a System That Chills Homeowner Access to Courts and Attorneys
The real problem is that stockbrokers masquerading as investment banks have committed the greatest economic crime in human history and have managed to cover it up by huge investments into the system wherein they control the narrative.

03/14/21

Wall Street vs. Workers Wall Street On Parade

Wall Street vs. Workers
“The economy isn’t physics – it’s not governed by scientific laws outside our control. It’s made up of people making choices about our values and what kind of society we want to live in.

03/15/21

What to do about Court bias Living Lies

What to do about Court bias
Bias is a state of mind. Everone has a mind and if they are living they have a state of mind. So every judge has some biases. In our system of court procedure, bias is ONLY important to impeach a witness or to ask the trial judge to recuse themselves — or beyond that,

03/12/21

SBA Extends Deferment Period for all COVID-19 EIDL and Other Disaster Loans until 2022 SBA

SBA Extends Deferment Period for all COVID-19 EIDL and Other Disaster Loans until 2022
Washington, March 12, 2021 (GLOBE NEWSWIRE) -- The U.S. Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022. All SBA disaster loans made in calendar year 2020, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 24-months from the date of the note. All SBA disaster loans made in calendar year 2021, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 18-months from the date of the note.

03/12/21

Foreclosure Rise Despite COVID Moratoriums Mortgage News daily

Foreclosure Rise Despite COVID Moratoriums
While the federal moratoriums are keeping the numbers low, ATTOM Data Solutions reports that 16 percent more residential properties received a foreclosure filing in February compared to a month earlier.

03/12/21

The note is evidence of the debt and the terms of repayment. It is not the debt itself Living Lies

The note is evidence of the debt and the terms of repayment. It is not the debt itself
The only way that the note can be used in any claim for administration, collection or enforcement is if it is evidence of an existing underlying obligation. It is the underlying transaction, not the note, that creates the liability of the maker of the note.

03/11/21

Federal judge in Ohio rules CDC exceeded authority with eviction ban CNBC

Federal judge in Ohio rules CDC exceeded authority with eviction ban
A federal judge in Ohio has ruled that the Centers for Disease Control and Prevention overstepped its authority when it banned evictions nationwide.

03/10/21

Banking on Bullshit The Nation

Banking on Bullshit
Anastasia Nesvetailova and Ronen Palan’s recent book argues that the financial system is built on a system that incentivizes sabotage and cheating.

03/10/21

How Homeowners Can Win On Appeal in Foreclosure Cases Living Lies

How Homeowners Can Win On Appeal in Foreclosure Cases
The bottom line in trial court actions defending foreclosures is that generally whatever you’re thinking about your defense, you need a little more than that. On Appeal, you need a lot more than what you are supposing will present the foundation for an opinion that reverses the trial court.

03/09/21

“Modifications” and Mediations are Opportunities for Homeowners to Deliver Blows and Setbacks to Self-proclaimed “Servicers” Living Lies

“Modifications” and Mediations are Opportunities for Homeowners to Deliver Blows and Setbacks to Self-proclaimed “Servicers”
When presented with a situation in which a court has ordered mediation or where a proposed modification has been offered, practicitioners (lawyers) should be asking themselves what they would do if they knew for a fact that

03/09/21

Home / Commentary / Is a Foreclosure Crisis in the Cards? Print This Post Print This Post Is a Foreclosure Crisis in the Cards? DS News

Home / Commentary / Is a Foreclosure Crisis in the Cards? There’s no real way to gauge how many people entering the mortgage forbearance programs will fail to resume payments. So there is no way to determine what foreclosures will look like once these programs end. Will we see a tsunami like we saw during the Great Recession? Or will it be something more manageable that won’t disrupt the market?

03/05/21

Residential Leasebacks: A Tool Against Future Foreclosure Crises? DS News

Residential Leasebacks: A Tool Against Future Foreclosure Crises?
In 2009, I began purchasing single-family (SF) and small multifamily foreclosures with the strategy of refurbishing and renting the assets until the market recovered. Our company was able to

03/05/21

“Random” Lien Releases Causing Trouble at Ocwen Living Lies

“Random” Lien Releases Causing Trouble at Ocwen
It has been happening for at least 10 years. Most homeowners never knew it happened. They were served with foreclosure notices and they simply walked away thinking that they had an unpaid account receivable with their name on it and that foreclosure was inevitable.

03/03/21

Loans Should Be Local Living Lies

Loans Should Be Local
In today’s technology, there is no good reason why all banks, large and small should not be competing for the same customers for services relating to demand deposit accounts and even long-term deposits. They are all equally dependent upon the same technology backbone, electronic funds transfer, and everything else.

03/03/21

The “Holder” Myth: How Wall Street Baffles the Courts Living Lies

The “Holder” Myth: How Wall Street Baffles the Courts
In a very recent deposition expertly done by a lawyer in an extremely conservative state, the grossly illegal plan to falsely present a scenario of “securitization of loans” was laid bare despite many attempts by an experienced witness who confessed that he was primarily a teacher to other witnesses for Mr. Cooper d/b/a Nationstar.

03/02/21

Gary Dubin, Esq. Fights Back! Petitions U.S. Supreme Court for Violations of Due Process Living Lies

Gary Dubin, Esq. Fights Back! Petitions U.S. Supreme Court for Violations of Due Process
I learned early (2006-2011) on when some 26 state bar associations filed various types of complaints or started investigations of my efforts to help homeowners. I fought them all back. Meanwhile, I have seen one lawyer after another falling victim to imaginary violations or discipline that was about 10 times worse than lawyers doing anything other than foreclosure defense.

03/01/21

New report highlights housing insecurity and the need for aggressive action CFPB

New report highlights housing insecurity and the need for aggressive action
Today, the CFPB released our first analysis of the impacts of the COVID-19 pandemic on housing. The good news is that actions taken by both the public and private sector have, so far, prevented many families from losing their homes during the height of the public health crisis. However, as legal protections expire

03/01/21

Wall Street Is Still Selling the Myth That Transactions With Homeowners Were Loans and That Risk IS Properly Allocated to Homeowners Instead of Securitization Schemers Living Lies

Wall Street Is Still Selling the Myth That Transactions With Homeowners Were Loans and That Risk IS Properly Allocated to Homeowners Instead of Securitization Schemers
Today we are still living with the myth that the transactions with homeowners were loans, that the concealed risks absorbed by homeowners should not be compensated, and that administration, collection, and enforcement of nonexistent accounts receivable should be allowed. We can all change that by being open to the idea that maybe it isn’t the way that Wall Street is selling it.

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