Thank you Dave for telling it like it is! Karma! It’s a bitch!
THERE’S MORE TO THE BUTLER & HOSCH STORIES THAN YOU’RE READING ABOUT NOW …
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Daily Archives: May 22, 2015
Were Bank Settlements Really Payments of Extortion to the Department of Justice??
Hopefully, Judge Cote meant “defective loan [products]”. For the intended purpose of securitization and rehypothecation it was the method and device that the banks used to procure the collateral that was deceptive as well as defective.
Congratulations are in order to the Federal Housing Finance Agency, which has managed to bring a case to trial against Nomura Holdings and the Royal Bank of Scotland, two foreign banks with little U.S. reputational risk. This relatively obscure agency oversees Fannie Maeand Freddie Mac. Considering they have nowhere near the power of our federal regulators and prosecutors at our esteemed Department of Justice and the Securities and Exchange Commission, the victory is a strong step in the right direction.
A New York Times editorial (May 15, 2015), congratulated the government for its” big victory” against the two banks which had been deceiving investors about the mortgage securities they had been “peddling.” In no uncertain terms, a federal judge ruled that the “two banks misled Fannie Mae and Freddie Mac in selling them mortgage bonds that contained “numerous errors and misrepresentation.”
“The magnitude of falsity, conservatively measured, is enormous,” Judge Denise L. Cote of Federal District Court in Manhattan wrote in a…
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Tom Ice Uncovers Robowitness Script!
It was no surprise that the script existed for the “corporate representatives” who testify in court. And it shouldn’t be any surprise that Tom Ice uncovered it. These are robo-witnesses. In nearly all cases, the witness never worked for the bank or servicer other than testifying to facts they knew nothing about. If you sit in any foreclosure courtroom you will hear the exact same questions and the exact same answers every time for every bank and every servicer.
As many of us have previously pointed out — these scripts are obviously prepared by lawyers and used by lawyers who treat these witnesses like trained monkeys. Some lawyers have gotten into trouble for fabricated documents. Now it looks like they will get into trouble for fabricating testimony.
So you have a witness who might never have worked for any bank or servicer testifying as to their confidence that…
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Deadly Clear 