Jackson v ING Bank, FSB (In re Jackson), 545 B.R. 62 (Bankr. D. Mass 1916) –

A chapter 13 debtor sued a mortgagee’s law firm asserting various claims based on the firm’s attempts to exercise remedies in connection with a defaulted mortgage loan, including wrongful foreclosure, breach of contract, deceit and misrepresentation, and violation of a bankruptcy discharge injunction and the Fair Debt Collection Practices Act (FDCPA). The debtor also objected to the mortgagee’s proof of claim.

http://www.bkfs.com/RealEC/DivisionInformation/SettlementAgents/ClosingInsightSettlementAgents/Pages/default.aspx

THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

Maybe it is time to drill down a little deeper into ways to obtain Discovery. The same company that brought us the DOCX line of “original” fabricated documents has created a software platform used by the mega banks to streamline closings. Closing Insight and its predecessors (I think Chase uses its own version of this platform) could provide information on the real facts of each “closing”. Discovery requests should be directed to access the information on the platform which is now owned and operated by LPS/BlackKnight.

Note that most loans over the mortgage meltdown period that are still in existence were refi’s and not original loans. Most lawyers and judges presume that the closing paid off the old loan. But this is often not the case. Since the party…

By William Hudson

http://www.wsj.com/articles/appeals-court-throws-out-1-27-billion-penalty-against-bank-of-america-1464018896

The big banks have demonstrated to the world that they own everything including the courts, law enforcement and government officials. They have demonstrated this fact by rigging currency and economies, obtaining bailouts when they had no losses, foreclosing on loans they can’t prove they own, playing both sides of the market and by purchasing government representatives with “deals” they just can’t turn down. Meanwhile 318 million Americans have had their lives impacted or decimated by illegal banking practices.

In late May,  a federal appeals court ruled it will not hold Bank of America accountable for the sale of worthless mortgages, overturning a paltry $1.27 billion penalty they had been ordered to pay. A panel of three judges ruled that federal prosecutors had failed to prove that Bank of American’s Countrywide Mortgage division had defrauded Fannie Mae and Freddie Mac by selling them fatally flawed loans. Seriously…

It seems apparent to me that the banks are sidestepping the statute of limitations issue by getting homeowners to renew payments after the statute has run. Given the confusion in Florida courts it is difficult to determine with certainty how the statute will be applied. But the execution of a modification agreement would, in my opinion, almost certainly waive the statute of limitations, particularly since it refers to the part of the alleged debt that was previously barred by the statute. It would also, in my opinion, reaffirm a discharged debt in bankruptcy.

There are several reasons why servicers are offering modifications and several other reasons why they don’t.

My perception is that the main reason for offering the modification is that the servicer is converting the ownership of…

Achieving standing via merger also requires that the surviving entity prove that it “acquired all of [the absorbed entity’s] assets, including [the] note and mortgage, by virtue of the merger.”Fiorito v. JP Morgan Chase Bank, Nat’l Ass’n, 174 So. 3d 519, 521 (Fla. 4th DCA 2015).

see http://4closurefraud.org/2016/06/07/fl-4th-dca-segall-v-wachovia-bank-na-reversed-wachovia-failed-to-prove-standing-to-foreclose/

Finally the courts are turning back to the simple rules of law that always applied until the era of false claims of securitization. Hopefully this decision will be persuasive authority in all jurisdictions. As stated in other cases, the banks can’t continue to operate using multiple choice assertions. Either their entity is real or it isn’t. Either they acquired the loan or they didn’t — and the fact that there was a merger does NOTHING for them in asserting transfer of the loan. They must show that the subject loan was in fact acquired by the surviving entity in the merger…

Great job by 4closurefraud website!

Originally posted at http://mortgageflimflam.com
With additional edits by http://4closurefraud.org

In a filing unsealed on June 3, 2016, the Department of Justice (DOJ) confirms what many of us have known for years. Nobody, not even the U.S. Government, with massive resources, can determine who owns your loan and has the right to collect on your mortgage.

The information comes from case files unsealed on June 3, 2016 by federal Judge Yvonne Gonzalez Rogers of the Northern District of California in the case of the United States v. Discovery Sales, Inc. The case involves some 325 fraudulent loans originated by Discovery Sales, Inc. (DSI) between 2006 and 2008, many of which were then sold to Wells Fargo Bank and JP Morgan Chase to securitize.

The Discovery Sentencing document on page 9 states:

The originating lenders who made loans to purchase DSI properties, including Wells Fargo…

The current talking points used by the Banks is that somehow the Trust can enforce the alleged loan even though it is the “investors” who own the loan. But that can only be true if the Trust owns the loan which it doesn’t. And naming the “investors” as the creditor does nothing to clarify the situation — especially when the “investors” cannot be identified.

see http://4closurefraud.org/2016/06/07/unsealed-doj-confirms-holders-of-securitized-loans-cannot-be-traced/

I know of a case pending now where US Bank allegedly sued as Trustee of what appears to be named Trust. In Court the corporate representative of the servicer admitted that the creditor was a group of investors that he declined to name. I knew that meant two things: (1) neither he nor anyone else knew which investor was tied to the subject…

87 Years Later & What has Changed in America?

If you have comments about this study please post in comments or email us your story at: info@lendinglies.com.  We will be compiling your comments and emails from this post and sending them to various agencies so they can understand the devastating psychological impact of Foreclosure on the American homeowner.  Please indicate your loan servicer(s) and current status.  All names and identifying information will be removed from comments and emails.  Thank you.

Tip to 4closurefraud.org for finding this tragic and relevant article.

The Onset of Depression During the Great Recession: Foreclosure and Older Adult Mental Health

Study here:Foreclosure and Depression

The Onset of Depression During the Great Recession: Foreclosure and Older Adult Mental Health