Cross-posted from The Law Offices of Evan M. Rosen:

Plaintiff starts off wanting leave to amend to add lost note count at the beginning of trial. Despite pleading owner and holder in a “verified” complaint, they now know the note was lost all along. First, opposing counsel attempts to place blame on the court clerk of court but the clerk who he calls to testify, proffers during their motion that the original was never filed. What they show was that a Notice of Filing of original note was filed in a prior 2009 case but when the bank was ordered to transfer the original note via an order from the Judge in the current 2013 case, they found that only a copy of the note was attached to Plaintiff’s notice of filing the “original note.” This is not the first time we’ve seen or heard this…

Without me saying a…

SUPERIOR COURT OF JEW JERSEY CHANCERY DIVISION- GENERAL EQUITY PART MERCER COUNTY IN THE MATTER OF RESIDENTIAL  MORTGAGE FORECLOSURE PLEADING AND DOCUMENT IRREGULARITIES

Here the court document. Click here.

Zerohedge:

One year after the great stock market crash in 1987, US President Ronald Reagan launched the “Working Group on Financial Markets.” Conspiracy theorists believe, however, that the real task of this committee is to protect against a renewed slump in the stock market. In the jargon of Wall Street, the working group is known as the “Plunge Protection Team.”

One glimpse at a few days suring 2007/8 and it is clear that ‘someone’ with infinitely deep pockets was able to support markets on several critical days – though, of course, anyone proclaiming intervention was propagandized away as a conspiracy theory wonk. However, as Dr. Pippa Malmgren – a former member of the U.S. President’s Working Group on Financial Markets – it is not conspiracy theory, it is conspiracy fact: “there’s no price discovery anymore by the market… governments impose prices on the market.”

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In this…

It’s about time somebody recognized it.  David Reiss and Brad Bordon posted a dynamic review of the most recent ‘slap down the banks’ cases of Saldivar and Erobobo and the potential impact on the [failed] REMIC tax shelters in REFinBlog.

David Reiss writes: “Brad Borden and I have warned that an unanticipated tax consequence of the sloppy mortgage origination practices that characterized the boom is that MBS pools may fail to qualify as REMICs.  This would have massively negative tax consequences for MBS investors and should trigger lawsuits against the professionals who structured these transactions. Courts deciding upstream and downstream cases have not focused on this issue because it is typically not relevant to the dispute between the parties.

In reality, big banks aren’t really acting like banks anymore.  Big banks do very little traditional banking, since most of their business is from financial speculation. For example, we noted in 2010 that less than 10% of Bank of America’s assets come from traditional banking deposits.

The big banks are manipulating every market.   They’re also taking over important aspects of the physical economy, including uranium mining, petroleum products, aluminum, ownership and operation of airports, toll roads, ports, and electricity.  And they are using these physical assets to massively manipulate commodities prices … scalping consumers of many billions of dollars each year (more here and more).

The evidence demonstrates that the big banks have essentially become huge criminal enterprises …  waging warfare against the people of the world.

Read more -> “Too Big To Fails” Have Stopped Being Banks | Zero Hedge.

This won’t take long. It’s not like I want to write about this topic. It’s just that I feel obligated to say something here, because if you’re reading the mainstream news… or the lack of mainstream news… it could seem that the foreclosure crisis is now behind us… AND IT’S NOT.

In fact, I can tell you that it’s not even close.

Maybe the mainstream media has simply gotten tired of the topic. And it’s not like they’ve ever had a particularly good handle on what’s going on in real life when it come to foreclosures in general. So, perhaps I shouldn’t be surprised at the latest coverage, or lack thereof.

But I am surprised.

As recently as September of last year, RealtyTrac has been reporting that the crisis is “well behind us.” In its U.S. Foreclosure Market Report™ for August 2014, were reported on 116,913 U.S. properties in August…

I cannot emphasize enough the importance of the Supreme Court’s decision in Jesinoski.  The financial industry had used the courts to rewrite the Truth in Lending Act (TILA) for over two decades. Lenders did not feel they had any duty to respond to a rescission notice and lenders routinely ignored the rescission notices.  In fact, they did not feel they had a duty to follow any of the provisions of TILA.

But this was not TILA’s intention.  TILA was created as a consumer protection statute.  It was designed to level the playing field and allow consumers to be private attorney generals.  That put the consumer in the driver’s seat.  No wonder lenders successfully emasculated the statute for over two decades.

The Supreme Court put the teeth back in TILA and it’s scaring lenders because lenders do not like being accountable for their misdeeds.  Suck it up lenders and learn…