Category Archives: Financial

Derivative Damage – What Can Go Wrong When Private Equity Takes Over a Public Service

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hqdefaultWhether you know it or not the derivative damage that caused the 2008 financial massacre and millions upon millions of foreclosures continues to plague America in ways that are unfathomable.

You can blame deregulation of the financial industry, too much dirty money in state and federal politics, outright bribery, a lack of moral and ethical behavior and a significant blur between the three branches of government that were originally designed to be oversight protection.

You may not know that the $700 TRILLION+ debt created on Wall Street took out (destroyed, eliminated, stole) billion$ of pension and retirement funds from nearly every aspect of government, trade unions and corporate 401ks to the point that severe cutbacks had to be made from furloughs to total haircuts… And now these lousy, corrupt and bribe-r-us bankster created investment vehicles have wiped out the futures of millions of American families – and many don’t even know it yet… but your politicians do.
See: The Sucker Punch – The Elite’s Attack on Pension and Retirement Funds Continue reading →

Ocwen’s William Erbey deserves a Passport to Prison- not Malta

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And don’t think the banks they service for shouldn’t be their roommates!

Millionaire facing US investment fraud suit is Malta’s newest citizen

MaltaToday – Matthew Vella  – 16 June 2016, 8:10am

william_erbeyWilliam Erbey was forced to resign chairmanship of US mortgage giant Ocwen over serious conflicts of interest related to foreclosures on homeowners

‘Citizen Bill’: William Erbey was forced to resign the chairmanship of mortgage giant Ocwen for using the company to funnel business to his companies

One of the multi-millionaires lining up for a Maltese passport has run into trouble back in the United States, having to face a securities fraud lawsuit.

William Charles Erbey was a billionaire worth $2.5 billion and a regular in Forbes’ list of the global rich, but his worth was drastically reduced to ‘just’ over $400 million when his mortgage giant Ocwen Financial was found responsible for serious conflicts in the way it carried out its business.

But far from the ‘talent’ that Prime Minister Joseph Muscat shills for in his international roadshows with Henley & Partners flogging off Malta’s golden €650,000 passport, William Erbey is accused by critics of having built an empire on mortgage misery, and who saves tax by sheltering his companies in the Virgin Islands, Luxembourg and the Caymans.

Earlier this month, US District Judge William Dimitrouleas said Erbey would have to face a securities fraud lawsuit, after the plaintiffs had successfully alleged that he and his company Home Loan Servicing Solutions had misrepresented to investors that the company had controls over Erbey’s conflicts of interest.

In 2011, Ocwen was investigated by New York’s Department for Financial Services for incomplete documentation and record-keeping, falsification of evidence through “robo-signing” and pursuit of foreclosures without legal standing.

Ocwen was found having pushed homeowners into foreclosure and profiting by funnelling default-related business to William Erbey’s associated companies. For example, one subsidiary hosted Ocwen’s online auctions; another handled post-foreclosure real estate transactions.

Mortgage servicers like Ocwen are essentially debt collectors, collecting monthly principal and interest from homeowners.

db-lawsky-game-of-thrones-master675Prosecutor Benjamin Lawsky accused Ocwen of making decisions intended to benefit Erbey’s affiliated companies and their share price, “resulting in harm to borrowers, mortgage investors or Ocwen shareholders as a result.”

In addition to Ocwen Financial – which collected monthly mortgage payments – Erbey was also the chairman and the largest shareholder of four other real estate companies that step in when a lender has his property loan foreclosed. Altisource Portfolio Solutions ran the auction site Hubzu.com for foreclosed properties to go for a quick sale; Altisource Residential Corporation re-purposed a home as a rental property after acquiring it through a foreclosure auction; Altisource Asset Management offered reinsurance; and Home Loan Servicing Solutions was a holding company that purchases assets from… Ocwen.

In 2014, the New York Department of Financial Services reached a $150 million settlement with Ocwen, that included the resignation of executive chairman William Erbey from Ocwen and its four publicly traded affiliates.

Investors who own 25% in Ocwen-serviced trusts have now accused the company of forcing them to pay the cost of the settlements, saying Ocwen’s practices enriched its corporate affiliates while harming the trusts and their investors.

Ocwen has countered that its own independent investigation proves that those accusations hold no water.

Also in 2013, some 9,500 homeowners complained about how their mortgages had been serviced. The Consumer Financial Protection Board (CFPB) teamed up with authorities Ocwen consumer complaintsfrom 49 states to force Ocwen into a $2 billion settlement [a mere pittance] for use in loan reductions to homeowners struggling to stay afloat and $127.3 million in refunds for 185,000 people whose properties had already been foreclosed upon.

According to Richard Cordray, head of the CFPB, “Ocwen took advantage of borrowers at every stage of the process.”

In an interview with The New Republic in 2014, the former prosecutor Benjamin Lawsky said: “When a corporation does wrong, it has to be that individuals who work at the corporation have done wrong.”

Hey, somebody tell the foreclosure judges, would ya?! You know none of this is going to change until law enforcement confiscates the computer servicer software programs and the judiciary deems the software patents unlawful, invalid and dissolves or bans the use of this “seamless automation” of corruption.

Unknown's avatarLivinglies's Weblog

Erbey William Charles Erby- Ocwen’s Finest

http://www.maltatoday.com.mt/news/national/66489/millionaire_facing_us_investment_fraud_suit_is_maltas_newest_citizen#.V2MBeeYzZb0

Mortgage Titan and U.S. Citizen William Charles Erbey, who built Ocwen Financial into one of the country’s largest non-bank mortgage servicers, is having problems qualifying for a Maltese passport. Although there has been no reason provided for the holdup on William’s passport application, it could have something to do with the numerous securities violations Williams is accused of.   William Erbey is accused by critics of having built an empire on foreclosure misery, and who saves tax by sheltering his companies in the Virgin Islands, Luxembourg and the Caymans. In 2012 he relocated to the U.S. Virgin Islands.


Erbey applied for Malta’s €650,000 “Golden Passport” program. Malta has become a gateway for wealthy investors — mainly from politically unstable parts of the world — to secure a base in London. While expensive, it promises a straightforward citizenship program that allows participants to operate throughout the…

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NEW CENTURY ORDER AUTHORIZING THE ABANDONMENT AND DESTRUCTION OF ALL RECORDS

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NEW CENTURY ORDER AUTHORIZING THE ABANDONMENT AND DESTRUCTION OF ALL RECORDS

Destroy-logoTHIS COURT having considered the Motion for an Order Authorizing the Abandonment and Destruction of All Records (the “Motion”) of the New Century Liquidating Trust (the “Trust”), by and through Alan M. Jacobs, as the Bankruptcy Court-appointed Trustee
(the “Trustee”), seeking authorization to abandon and destroy the Records pursuant to Secure-and-Confidential-Document-Shredding-Glasgow-Edinburghsections 105(a), 363, and 554(a) of the Bankruptcy Code and Bankruptcy Rule 6007 in his sole discretion; and it appearing that notice of the Motion has been given to the United States Trustee and all parties who have indicated an interest in the Records, including those parties who have requested copies of any Loan Files or other documents from the Trust, and that no further notice need be given; and it appearing that objections have been filed to the Motion by Michael Harkey (“Harkey”) [D.I. 11462], Jane Haas (“Haas”) [D.I. 11463], the Attorney General of the State of New York (the “NYAG”) [D.I. 11465], the Federal Home Loan Bank of Boston and Federal Home Loan Bank of Chicago (the FHLBs”) [DJ. 11466], Mimielle Goulatte (“Goulatte”) [D.I. 11467], Deatra DeHomey (Scott) (“DeHomey”) [D.I. 11468], Frances Rogers (“Rogers”) [D.I. 11469], Royal Park Investments SA/NV (“Royal Park”) [D.I. 11470], Wallace Vaughn [D.I. 11471], and the “Institutional Investor Plaintiffs” (as defined in the Objection) [D.I. 11473] (collectively, the “Objectors”). Haas, Goulatte, DeHomey, Rogers, and Vaughn are referred to herein as the “Borrower Objectors,” and their objections, the “Borrower Objections,” and the NY AG, the FHLBs, Royal Park, the Institutional Investor Plaintiffs, and Harkey are referred to herein as the “Subpoena Objectors,” and their objections, the “Subpoena Objections”); and the Court having held a hearing on May 20, 2016 to consider the relief requested in the Motion and the objections thereto; and after due deliberation and sufficient cause appearing therefore, it is hereby ORDERED, ADJUDGED AND DECREED THAT: Continue reading →

Attorney James “Randy” Ackley Speaks to the Injustices of Foreclosure Courts

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Published on Apr 29, 2016

Attorney James “Randy” Ackley appeared on the Neil Garfield Radio Show. The show was a fascinating discussion about banks creating the illusion of standing when a bank is unable to demonstrate they have the right to foreclose.

Foreclosure Fraud

Neil and Randy addressed why the courts were allowing loan servicers to present evidence that was hearsay, often fraudulent and did not comply with the rules of evidence. Ackley stated that, “The court is allowing evidence to be introduced that would not be admitted in any other type of case.” The discussion brought up the fact that courts are making erroneous presumptions in favor of the banks despite the fact that there is now a public record of banks fabricating evidence, robosigning documents, false notarizations and bank employees testifying under oath about facts they know nothing about.

To learn more about Randy Ackley at: http://4closurefraud.org/2016/04/05/j…

Saterbak Dissected – By Californians for Justice

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A Guest Post By Californians for Justice

Judith McConnellSaterbak v JPMorgan [Saterbak v JPMorgan, D066636 (Cal. Ct. App. March 16, 2016) Appellate Court attempts to over rule the California Supreme Court requires response from all. Presiding Judge Judith McConnell.

Below is an analytical response to the horrific ruling and opinion from the San Diego Appellate court that directly challenges the recent Yvanova vs. New Century Mortgage Corporation ruling from the Cal Supreme Court. We suggest that folks read this analysis and forward it with their comments to Kamala Harris (California State Attorney General) requesting her office to strongly object to this Saterbak ruling, and request that the Attorney General request that the Supreme Court de-publish the Appellate ruling. Continue reading →

Paul Krugman Propaganda Fully Exposed and Debunked

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Paul KlugmanThe New York Times posted a Paul Krugman article “Sanders Over the Edge” criticizing Bernie Sanders that is obviously politically (and Wall Street) driven propaganda. What Krugman and the majority of politicians fail to realize is that the Wall Street banks created a new “non-traditional’ mortgage “securitization” that has directly affected over 180 MILLION Americans and indirectly affected 180 million more folks across the United States of America.

With that said the biggest failure that Krugman and his pals overlook is that American homeowners are wising up and researching exactly what has happened to their properties and precisely who was behind the scheme. Continue reading →

Bernie releases incredible ad featuring Tulsi Gabbard

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We are so proud of of our Hawaii Congressional Representative Tulsi Gabbard. This commercial reaches the depth of our souls.

Bernie Sanders is the only candidate addressing Wall Street issues head on.

Thank you Tulsi Gabbard. This commercial gave us “chicken skin” – (she’ll understand).

VOTE tomorrow Hawaii. 1 pm. Be there! Okay, yeah?

In Defense of “Free Houses” – Yale Law Journal

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House-free (1)The authors of In Defense of “Free Houses” – Yale Law students Megan Wachspress, Jessie Agatstein and Christian Mott have taken a surface view of an extremely deep and dark lake of fraud, criminal behavior and intent.

Understanding the depth of the mortgage securities related corruption would need several scuba dives to get behind the 1990’s intentionally orchestrated criminal behavior. Researchers like Ken Continue reading →

The Veneer of Justice in a Kingdom of Crime

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The criminal global banking cartel has effected a coup d’etat in the U.S. This is why the same criminal financial elite that saw 1000 of its members go to prison 20 years ago (after the S&L crisis) is now above the law.  Part 1 of 4.

To date, the question of why the U.S. Department of Justice has failed to prosecute even one too-big-to-fail bank for the pervasive criminal frauds that drove the multi-trillion-dollar economic meltdown of 2008 has been answered pretty much with shrugs.

Please share – Knowledge is Power!

Brent Loper from “The Foreclosure Story”

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justiceleague00's avatarJustice League

A new movie will be filming soon on the Gulf Coast.  It’s called “The Foreclosure Story” and will feature local actor Brent Loper in the lead role.

“The Foreclosure Story” is based on true events. It’s an action-drama that follows the hopes of a struggling, young father and entrepreneur, Eric Herrholz.  Eric’s
uncanny knack in business garners the attention of the Mob, which at first doesn’t seem such a bad thing. The money is rolling in and life is good. But the American
Dream takes a dark turn. With the lives of his family and all he has worked for at stake, Eric is pushed to his limits to keep ahead of the jailer and out of the grave.

Click on the video link to hear Brent talk about the upcoming film.

Also, the movie is still casting. For more information visit:

foreclosurecasting.com
https://www.facebook.com/theforeclosurer/?fref=ts

Read more: http://www.fox10tv.com/story/31366440/brent-loper-from-the-foreclosure-story#ixzz41mUFlAhu

Here is the…

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