Category Archives: Foreclosure Defense

Wall Street Bank Attorneys Are Sour Grapes Over Glaski

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Oh Boo Hoo Morgan Lewis! 

garfield_butt_by_garfieldcat2012-d6ijytvYesterday, Bernard J. Garbutt III (really), a partner with NY firm Morgan Lewis, sent a letter to Chief Justice Tani G. Cantil.Sakauye and the Associate Justices of the Supreme Court of California representing Deutsche Bank National Trust Co., following an October 4, 2013 letter from AlvaradoSmith (representing JPMorgan Chase) requesting depublication of Glaski v. Bank of America, N.A.

Apparently, Glaski makes the banksters uncomfortable enough that they want the decision to be removed from publication based on the fact that the “PSA states explicitly that the Trust is a Delaware Statutory Trust, organized under the Delaware Statutory Trusts Statute, 12 Del. Code Ann. §§ 3801 et seq., and governed by Delaware law. See, e.g., PSA § 10.05 (governing law).” So, the Wall Street banks hired high priced firms to pen letters to the appellate court begging to hide the Glaski decision.

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KISS MY FANNIE MAE

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ROAD TO LIBERTY in July 2013 wrote

“FANNIE MAE, BY ITS OWN ADMISSION, OWNS NOTHING …”

fannie-mae-cartoonLIBERTY continues:  “[Judge] Schack correctly concludes that “FANNIE MAE’s Servicing Guide, with its deceptive practices to fool courts, does not supercede New York law.”  I had the same thought when I first encountered this fiat decree of Fannie Mae’s when researching my own lawsuit against Fannie Mae and others a couple of years ago.  It is a relief to hear a judge articulate this so starkly.”

The LIBERTY post inspired a Honolulu attorney’s client who penned a tribute to ol’ Fannie: Continue reading →

Is the Promissory Note Even Enforceable?

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Judge UnEnforceableWhen all is said and done the courts come back to the main premise, “Did you pay?”. That is so injudicious on so many levels. The deeper we get into securitization and contract law we soon realize (after dissection) there is one very basic question being ignored – “Is the Promissory Note even enforceable?”

Sheila Bair’s (former FDIC Chairperson) new book, Bull By the Horns, addresses issues that must be taken into careful consideration when considering the validity of foreclosures – and she does it with impressive candor. Sheila separates the MBS into 2 categories: Continue reading →

THE HISTORY AND DEATH OF MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. ACCORDING TO THE USPTO

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bamboozledFor nearly 20 years, in particular, the last 10 years, the courts, foreclosure defense attorneys, homeowners and politicians have been bamboozled by the blur and use of “MERS” – the service mark for the MERS® eRegistry system owned and operated now by MERSCORP Holdings, Inc.

“MERS” first became the acronym, an abbreviation for the first Mortgage Electronic Registration Systems, Inc., in 1995. This corporation was registered in Delaware on October 16, 1995. In 1997 Mortgage Electronic Registration Systems, Inc. registered “MERS” as the service mark with the United States Patent and Trademark Office (USPTO) for its mortgage loan eRegistry system. This original MERS corporation has long since been eaten up by other entities created by its executives and board of directors to replace it over the past 18 years. Bottom-line: The original Mortgage Electronic Registration Systems, Inc. is dead and it died in 1998… RIP

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If Corporations Are People – This Person is What the Banks Would Look Like

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Not much more needs to be said… Wonder if she works for Bank of America, Wells Fargo or JPMorgan Chase?

Evil woman steals ball from little girl –  Published on Aug 14, 2012

A woman steals a discarded baseball from a young girl at Minute Maid Park.
The high five just adds insult to injury. What a giant snatch. Sounds just like the banks after a foreclosure proceeding, doesn’t it? Talk about a moral hazard…

Finally an answer to that *vexing* question. Is There Life After HAMP?

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Published by THE RECORDER, Essential California Legal Content

modification-fraudChavez v. Indymac Mortgage Services [C.A. 4thD061997]
Click here for the full decision

“We conclude the homeowner sufficiently alleged equitable estoppel to preclude the lender’s reliance on the statute of frauds defense.

We also conclude that the homeowner sufficiently alleged a cause of action for wrongful foreclosure.” Continue reading →

Mr. Potter and the State of Washington Legislate No Need for Original Note – Just Take the Land; Bye Bye

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By Sidney Sullivan

washington flagThe history of Washington includes thousands of years of Native American history before Europeans and Americans arrived and began to establish territorial claims. The region was part of Oregon Territory from 1848 to 1853, after which it was separated from Oregon and established as Washington Territory. In 1889, Washington became the 42nd state of the United States – and was recently screwed by its own legislature. [Source: Wikipedia]

On Tuesday, March 19, 2013 the Washington SENATE FINANCIAL INSTITUTIONS, HOUSING & INSURANCE Committee met to discuss SB 1435, a law that excludes the need for the original promissory note – as a convenience to lenders, title insurance companies and the Washington Bankers Association – Mr. Potter Eliason.   

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CREDIT SLIPS – Crisis Books… a phenomenal resource

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Credit Slips logo

Crisis books  posted by Alan White

I recently stumbled on this excellent compendium of more than 300 books on the financial crisis.  It also includes a list of 25 or so books that predicted the crisis, as well as a useful link to an annotated list of individuals who can be given credit for predicting various aspects of the crisis. [This is terrific reference material. Be sure to bookmark. DC Ed.] Continue reading →

BofA Invasive Tactic in Foreclosures Draws Scrutiny

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Don’t think for a minute that this could not happen to you.  This is much more prevalent than you can imagine.

NYT break-in storyThe New York Times – by JESSICA SILVER-GREENBERG

Barry Tatum returned to his home in Chicago in December to find that his front and back doors had been torn from their hinges, leaving his possessions exposed to the frigid winds that whipped through his neighborhood.

Terrified that he had been robbed, Mr. Tatum, who had fallen behind on his Bank of America mortgage, raced inside only to discover an unlikely source of the break-in, he Continue reading →

Inside the End of the U.S. Bid to Punish Lehman Executives

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Don’t you wonder if maybe now that there are lawsuits like PHOENIX indicating the securitized trusts are actually empty and assignments were never made, if that might be enough reason for the SEC to take action? We’ve seen Lehman loans that were not assigned and Aurora hiding trust information – gotta wonder how management could not know the trusts are empty. We can hope Mr. Barofsky has been looking into this too.

justiceleague00's avatarJustice League

Inside the End of the U.S. Bid to Punish Lehman Executives

At a closed-door meeting in early 2011, Wall Street regulators were close to throwing in the towel on their biggest case.

The Securities and Exchange Commission’s eight-member Lehman Brothers team, having hit one dead end after another over the previous two years, concluded that suing the bank’s executives would be legally unjustified. The group, noting that prosecutors and F.B.I. agents had already walked away from a parallel criminal case, reached unanimous agreement to close its most prominent investigation stemming from the financial crisis, according to officials who attended the meeting, which has not been reported previously.

But Mary L. Schapiro, the S.E.C. chairwoman, disagreed. She pushed George S. Canellos, who supervised the Lehman investigation as head of the S.E.C.’s New York office, to explain how executives who presided over the biggest bankruptcy in United States history could…

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