It’s just an observation, but it certainly appears that foreclosure judges have been given orders to squash homeowners like a bug at the lower court level and if they can afford to appeal – maybe, just maybe, they might get some fair and balanced justice. The process so far has been highly unbalanced. Whether foreclosure judges are just not competent enough to understand the securitization, rehypothecation and securities scheme, or whether they’ve been told by higher-ups that if they don’t rule against homeowners all their pensions will be lost or the economy will crash – it’s just a bizarre and pathetic state of mind. Continue reading
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The Cow Jumped Over the Moon – There Are Judges Killing the Titles
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We think these judges have been brainwashed to be afraid that the entire system will collapse if homeowners are allowed to prove the fraud. It didn’t collapse in Iceland – and it stopped the growing debt. As long as these banks are allowed to securitize and rehypothecate our collateral – the debt will continue to skyrocket. We know it is over $700 TRILLION now, some say it is over $2 QUADRILLION… Do you have any idea how many zeros that is?! Personally, that is giving the judges too much credit to be so concerned. Think about it logically – they (or their higher-ups) are first trying to protect their delusion of retirement investment funds (a tie to Wall Street) – because why would a judge add to the moral decay of society by allowing banks to set the example of committing fraud? What kind of country would we have left anyway?
Reading the biased judicial opinion in the transcripts of the Florida case, Deutsche Bank vs. Renee Cuenca compels the apparent need to make an early opening statement.
Maybe it needs to be dialogue on a new television series – like “Fraud & Foreclosure” … or “Un-Justice”.
The Cuenca transcripts – like the more recent foreclosure orders dissing the borrowers’ rights to challenge the Assignment of Mortgages, instill a vivid picture of the “cow jumped over the moon.” How does the Judge get from point A to point D without connecting the dots?
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Sen. Warren, Rep. Cummings Press Federal Reserve For Details of Leak Investigation
Makes me wonder if the Fed bond buying isn’t related to the Rehypothecation and loss of homeowner collateral which has led to the unprecedented amount of fraudulent foreclosures.
Two congressional Democrats have asked the Federal Reserve Board for a briefing about its investigation into a leak of confidential Fed policy deliberations two years ago.
Sen. Elizabeth Warren, D-Massachusetts, and Rep. Elijah Cummings, D-Maryland, sent the request today to Scott G. Alvarez, the board’s general counsel, saying that neither Alvarez “nor any other Federal Reserve official has made public any information about the conduct of the investigation or its outcome.”
“We are disturbed by this lack of transparency regarding such an important topic,” the two wrote. “This leak contained key market-moving information, violated Federal Reserve policy on disclosure, and may have represented a violation of federal law.”
ProPublica reported in December that details from discussions of the Federal Open Market Committee found their way into a financial analyst’s private newsletter. The leak occurred in October 2012, the day before the scheduled public release of committee meeting minutes that promised…
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Wells Fargo ordered to pay $4 million for HELOC violations
Hell’s Fargo – so appropriate.
Wells Fargo (WFC) will pay a $4 million penalty after an investigation by the New York Department of Financial Services found that a former affiliate of the bank falsified mortgage loan origination files, made loans to customers that were secured by an interest in the borrower’s home, and committed other infractions in violation of New York State law.
According to the NYDFS, beginning in 2006, Wells Fargo Financial Credit Services of New York issued a series of home equity lines of credit to New York borrowers under the product name “Nowline Visa Platinum Credit Card Accounts.” The cards allowed borrowers to make retail credit card purchases that were secured by an interest in the borrower’s home, which is against the law in New York.
“Our investigation uncovered that this Wells Fargo affiliate put borrowers’ homes on the line for routine credit card purchases – creating substantial and undue risks…
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Judge denies BofA request for new mortgage hustle trial
Maybe the judges in New York understand the corruption of the Rehypothecation! And the failure to disclose!
A federal judge in Manhattan said a $1.27 billion fine against Bank of America over an old mortgage-lending program known as Hustle should stick.
Former Countrywide executive Edward O’Donnell filed a whistleblower lawsuit that accused Countrywide of defrauding government-backed mortgage finance companies Fannie Mae and Freddie Mac.
In 2014, O-Donnell received $57 million by reporting Countrywide them loans that were not as good as the company represented them to be.
The case became known as the “Hustle” case due to the Countrywide process through which the loans were sold, which was technically referred to as HSSL.
Source: WSJ
NY judge slams Wells Fargo for forging docs, U.S. judge rejected allegations by NY AG that bank was not complying with the $25B mortgage settlement ..Why nothing will change
Bankruptcy judge Robert Drain of the New York Southern District has long been one of the more fascinating litigators at One Bowling Green. However, until today we though that his often outspoken style is reserved for his career caseload, which includes among it Delphi, Hostess, and RCN; little did we know that Drain is also an activist on par with the infamous Jed Rakoff (author of the infamous rhetorical essay “Why Have No High Level Executives Been Prosecuted In Connection With The Financial Crisis?” which over 1 year later still has no answer).
Today, thanks to Zero Hedge contributor 4closurefraud.org, who over the weekend noticed a critical filingin the case of Cynthia Carrsow-Franklin vs Wells Fargo, we find something stunning: in his 30-page decision (attached below), Drain accused Wells of forging, and explicitly used the word “forged”, not once, not twice, but a whopping 22…
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Banks Brace for Pain: Statute of Limitations on TILA Rescission and TILA Claims
A lot of homeowners never received the extra copy via the lender. So, Peter, how do you squash that version of a free house? Hard to close the doors to the public on that one, huh? [inside Hawaii humor]
Nomi Prins: The Sinister Evolution Of Our Modern Banking System | Zero Hedge
Nomi Prins has been on the forefront of whistleblowers. I would hire her to speak at every mass assembly I could. From Girl Scouts, PTA, Rotary to Soroptimists International.
Nomi Prins: The Sinister Evolution Of Our Modern Banking System
I quit Wall Street and decided that it was time to talk more about what was going on inside it, as it had changed. It had become far more sinister and far more dangerous.
~ Nomi Prins
via Nomi Prins: The Sinister Evolution Of Our Modern Banking System | Zero Hedge.
Two Judges Who Get It About Banks – Too Many Other Judges Don’t
Big banks hold great sway in Washington these days, far more than troubled homeowners do. But outside the Beltway, many people remain caught in the maw of the financial giants, which is why it is heartening when some judges step into the fray.
Consider two opinions involving Wells Fargo, a bank that enjoys a somewhat better reputation than many of its peers. On Monday, a judge in a state court in Missouri ordered Wells to pay over $3 million in punitive damages and other costs for abusing a borrower. Then, on Thursday, a judge in Federal Bankruptcy Court in suburban New York ruled on behalf of another borrower, concluding that there was substantial evidence Wells Fargo forged documents when it foreclosed on a property. Continue reading
NY Federal judge slams Wells Fargo for forged mortgage docs
New York Post –
By Catherine Curan
January 31, 2015 | 8:34am
Judge Robert Drain has a message for Wells Fargo: “Forged” foreclosure documents don’t cut it in New York’s federal courts.
In a stunning 30-page decision on January 28, Drain, a federal bankruptcy judge in New York’s Southern District, blasted Wells Fargo, America’s largest mortgage servicer, for false documents it used in trying to prove its right to foreclose on Westchester County resident Cynthia Carrsow Franklin’s home. Continue reading
