Monthly Archives: April 2013

MERS – TOO MANY DEAD DUCKS

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patent_officeWhile fishing for bank-related patents this gem surfaced and jumped into the net.  At first it wasn’t apparent it was a keeper because the UETA issue has not been in the forefront of foreclosure defense. However, taking the time to dissect the document it became apparent that, as some of us have suspected, there is a mandatory methodology from the origination of the mortgage loan on a trip to the securitized trust that includes the EXPLICIT CONSENT of the obligor (homeowner).

Yup… It appears the road to securitization needs an electronic record that the “issuer” aka the “obligor” has explicitly consented to at the time of origination. Yeah, ya think maybe that was the real intention of MERS aka Mortgage Electronic Registration Systems, Inc.? But it looks like it didn’t have all its ducks in a row. This is a lot to digest – but you need to know and understand this information in order to plead your case correctly before the courts. Continue reading →

HAWAII PRO SE PLAINTIFFS BEAT BONY’S MOTION TO DISMISS!

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BONY MOTION DENIEDIn a Second Amended Verified Complaint filed against the Bank of New York Mellon (“BONY”), fka The Bank of New York and U.S. BANK NATIONAL ASSOCIATION, as Trustee for J.P. Morgan Mortgage Acquisition Trust 2006~WMC2 to Quiet Title, Hawaii Pro Se Plaintiffs Melvin Keakaku Amina and Donna Mae Amina won a big round #1 admirably defeating Defendant BONY’s Motion for Summary Judgment. The case, CIVIL NO. 11-00714 JMS/BMK, was originally filed on November 28, 2011 in Hawaii U.S. District Court and heard by the Honorable Judge J. Michael Seabright. Continue reading →

MONEY VAMPIRES, BANKSTER PIRATES AND THEIR OFF SHORE TREASURE CHEST!

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By Shelley Erickson

The Pirate Pilfering!

Wall-Street-PirateBankster piracy is so horrific even though the 50 US attorney generals agreed to let the banks off the hook with a pittance in refunds to homeowners, the fraudclosure money vampires sailed on assaulting and wrongfully seizing our properties.

It was business as usual set out to steal even more properties the exact same way and adding millions more homeowners to their fraudclosure list Continue reading →

Banks Throw $20 Billion at Securitized Debt Market to Avoid Markdowns

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I’m still questioning whether the investors’ finance directors and fund managers, CEOs knew or were told not worry that these mortgage loans would be liquid and that the foreclosures were insured. Unlike the homeowner, the investors had all sort of warnings…but, had they done their due diligence they would have found that there were no assignments of mortgages and notes to the trust. Knew or should have known? The homeowners were unwittingly induced into providing their collateral. The investors, however, had much more opportunity to smell a rat and apparently chose to overlook it. Why? And why isn’t the spotlight on the investor finance directors?

Unknown's avatarLivinglies's Weblog

Bloomberg Reports that the big banks are borrowing big time money using money market funds as source money for financing repurchase agreements. This stirs the obvious conclusion that the mortgage bonds — and hence the claim on underlying loans — are in constant movement making the proof problems in foreclosure proceedings difficult at best.

The underlying theme is that there is tremendous pressure to make good on the mortgage bonds that never actually existed issued by REMIC trusts that were never actually funded who made claims on loans that never actually existed. All that is why I say you should argue away from the presumption and keep the burden of persuasion or burden of proof on the party who has exclusive access to the actual proof of payment and proof of loss.

The banks are still claiming assets on their balance sheet that are either without value of any kind…

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What is money – and where did it’s real value go?

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“We are fighting in the defense of our homes, our families, and posterity. We have petitioned, and our petitions have been scorned. We have entreated, and our entreaties have been disregarded. We have begged, and they have mocked when our calamity came.

We beg no longer; we entreat no more; we petition no more. We defy them!” William Jennings Bryan (1896). Some things never change – or will they?

Continue reading →

ALL PAYMENTS RECEIVED IN CONNECTION WITH THE INDEPENDENT FORECLOSURE REVIEW PAYMENT AGREEMENT MAY BE SUBJECT TO TAXATION AS INCOME

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Principal reductions are likely taxable too. Settlements in a lawsuit appear to be taxable. Wow… This needs examination and some expert tax advisors.

justiceleague00's avatarJustice League

On February 28, 2013, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board released amendments to their enforcement actions against 13 mortgage servicers for deficient practices in mortgage loan servicing and foreclosure processing.1 The amendments require the servicers to provide cash payments to borrowers whose homes were in any stage of the foreclosure process in 2009 or 2010 and whose mortgages were serviced by one of the 13 servicers or their affiliates.2 Regulators have published the payment amounts on their websites.3

All payments received in connection with the IFR Payment Agreement may be subject to taxation depending on the borrower’s individual circumstances. This webpage provides general information regarding potential U.S. federal income tax consequences of these payments if you are a citizen or resident of the United States.4

The Independent Foreclosure Review Payment Qualified Settlement Fund (QSF) is required to comply with IRS information reporting requirements with respect to…

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Elizabeth Warren Blasts Regulators For Protecting Banks

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Elizabeth-Warren2“The Fed messed with the wrong senator…” posted David Dayen on Salon.  Sen. Elizabeth Warren (D-MA) grilled federal officials about illegal bank foreclosures at a Senate Banking Committee hearing on Thursday. She wanted to know if they would give information to victims of illegal foreclosures–or if they just want to protect the banks. Warren asked, “You now know individual cases where the banks violated the law, and you’re not going to tell the homeowners, or at least it’s not clear yet whether you’re going to do that?”     Continue reading →

Is it Legal to Record the Bank’s Phone Call or Conversation?

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Lender and servicer modification abuse, dual tracking and deceptive business practices have caused undue emotional stress on homeowners. The Courts usually demand a precise record in order to establish a claim against the banks and their pals. Foreclosure is a dirty business and you need to have the right tools and knowledge to make your points.

RECORD A CALLYou’ll notice that the banks and servicers normally will not correspond to homeowners using email. The banks prefer homeowners fax their information and the banks use the telephone letting you know they are recording their calls.

It’s time to turn the tables. Take good notes and keep a complete file of all your conversations and correspondence with the banks and servicers – but you may also want and need to record the telephone conversations you have with the banks. Here are some tips from a private investigator on the legality of recording telephone conversations. Click here for the latest telephone recording devices.  Continue reading →

Deutsche Bank to tell 18,000 Dutch clients to find a new bank

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Too Big for It’s Britches! Probably better to find another provider anyway, like a safe in your mattress, before the next Cyprus tsunami comes along.

justiceleague00's avatarJustice League

Some 18,000 clients of Deutsche Bank Nederland will receive a letter over the next few days telling them to take their business elsewhere, the Financieele Dagblad reports on Thursday.

The FD says clients will be told ‘Deutsche Bank is not a suitable bank for you’. Some 2,000 private customers will be given until November to find a new financial service provider. The rest of the unwanted client list is made up of small firms, foundations and sports clubs, the paper says.

The list consists of clients who moved to Deutsche Bank when it took over parts of ABN Amro three years ago. Deutsche Bank bought a number of activities which ABN Amro was ordered by Brussels to sell when it merged with Fortis Nederland.

– See more at: http://www.dutchnews.nl/news/archives/2013/04/deutsche_bank_to_tell_18000_du.php#sthash.GxKylZGv.dpuf

 

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Weekend Reading: The Property Illusion

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How many people have to lose their savings, their equity and their pensions before there is a revolution – or is the intellectual revolution already here – “refuge to reconstruction”? That is the $54 Billion dollar question.

Posted by Larry Doyle, Sense on Cents

One man’s wealth tax becomes another man’s wealth confiscation

Property RightsI have no doubt that given the need for sources of revenue by Uncle Sam and other sovereign governments, the topic of “the protection of property rights” will be increasingly brought front and center in the public arena.

We saw this play out in Cyprus just a few weeks back, and we witness another example of this topic just the other day in a WSJ article, Now He’s After Your 401(K). Continue reading →