Regarding the 2020 Foreclosure & Eviction Moratorium
By Sydney Sullivan
For nearly a dozen years, we have followed the securitization/rehypothecation crisis and corruption on behalf of over 200 million American Homeowners (2.5 per HH) and their families. It’s been a tough 12 years and some families are still fighting fraudulent bank foreclosures since 2009. Can you even imagine a lawsuit and the threat of losing your home for over a decade, waking up every morning wondering when the sheriff is coming to throw you, your family and your belongings out on the street?
Thank you in advance for considering our plight. We applaud your “Moratorium” on evictions and foreclosures and the extension which you added just this week – but Sirs, it’s very limited. It doesn’t reach a lot of people that are in dire need and let us tell you why.
“Hundreds of forged documents have been transmitted by mail and wire to be recorded in the Offices of the Wisconsin Registers of Deeds, contrary to 18 U.S.C. secs. 1341 or 1343, which are predicate acts in violation of 18 U.S.C. sec. 1961 designated in Wis. Stat. sec. 946.82(4) as predicate acts and also involve multiple violations of Wis. Stat. sec. 943.38(1)(a), defined as predicate acts under Wis. Stat. sec. 946.82(4), prohibited under Wis. Stat. sec. 946.83 and chargeable as crimes.”
Remember this was from 2016 – it has since tripled and continues to climb. States have dug a hole so deep they can’t get out. It appears the new “Defund the Police” cry is just a cover-up for the past bad behavior. Intentional? What do you think?
“In an alternate reality, the one progressives wanted, the government wouldn’t have bailed out the banks during the 2008 crash. When mortgage-backed securities began catching flame like newspaper under logs, the government would have prioritized struggling homeowners instead. It would have created a corporation to buy back the
Dear God – I love this post. And just before Good Friday and Easter – Thank you. Amen!
Living Lies: “If the investment banks and the investors are not losing money arising from “nonpayments”, forbearances sand moratoriums then who is losing money?
The myth is that servicers are losing money. That isn’t true. Mr. Cooper, Ocwen et al have no liability to investors. Who does?
It turns out that the investment banks have a theoretical discretionary liability to investors that they are only honoring because they are trying to sell more certificates. They have no obligation to actually make those payments because this is an “event” (in their contract with investors) that they could declare and thus temporarily or permanently reduce or suspend payments to investors.”
LIVING LIES: “The foreclosure mill lawyer should be pressed as to the identity of his client and whether he represents, for example, US Bank, or some trust or some “certificate holders.” The lawyer can’t answer because the answer is none of the above. The lawyer represents a servicer who is receiving instructions from an investment bank. The lawyer will give an evasive answer. The homeowner should object and request the mediator note that the appearance of the Plaintiff is in question and unresolved.”
LIVING LIES: “But since hardly anyone persists, the banks continue to stonewall. Despite the fact that the foreclosure is a hoax, they win because homeowners either give up or don’t pay a lawyer enough money to really litigate the case for them. They want the result without paying for it. Our system doesn’t work that way…”
LIVING LIES: “It’s complicated. Giving the investors money was a pay down of the obligation owed by the investment Banks, not the Borrowers. It didn’t change anything in the trust.
But that begs the real question. The trust never owned anything to begin with. The trust does not exist as a legal person under any law of any jurisdiction simply because there is absolutely nothing in it. Therefore there is no law that could or would support any claim on behalf of a REMIC trust as a claimant in bankruptcy, a Plaintiff in judicial foreclosure or a beneficiary in nonjudicial foreclosure.
Yes it is that simple. But getting there is difficult particularly when dealing with widely held misconceptions of the facts. And failure to raise the point might in effect give the lawyers for “the trust” judicial standing for the purpose of that action in court.”
LIVING LIES: “The bottom line is that every decision regarding payoff, collection, forbearance and foreclosure must satisfy the conditions of the alleged REMIC securitization.
The securitization is most often proffered in court in the form of a Pooling and Servicing Agreement (PSA) which in turn is supposed to have a Mortgage Loan Schedule (MLS) attached but the MLS is actually a fabricated document that didn’t exist when the PSA was created.
So if you want to settle a foreclosure, it must pass through several layers of approvals, and the authority for each level is in considerable doubt.”