Zerohedge:

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…

For further information please call 954-495-9867 or 520-405-1688

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TILA remedies and requirements actually address the “free house” complaint head on: If banks misbehave in material and important ways (as defined by statute and not in the minds of a judge or lawyer) then yes, the homeowner should get a free house. That is what all three branches of the Federal government have said and no re-interpretation of TILA rescission or TILA remedies will be allowed since last week when the Supreme Court unanimously decided that TILA meant what it says. Any Judge or lawyer who thinks otherwise is in fairyland. The fact that a Judge doesn’t “like” the result of a “free house” (as the Judge perceives it) means nothing. The Judge is required to apply the law as decided by the United States Supreme Court.

Practically everyone is asking questions about whether the statute of limitations starts running…

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.

For further information please call 954-495-9867 or 520-405-1688

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see Fund Manager’s Letter to Bondholders Detailing Sins of Ocwen

Chickens are coming home to roost. Just read the letter. Anyone who is litigating a case where Ocwen is involved in any way in the chain of title or ownership of the loan paperwork should read this in detail. This could be used as support for arguments that the books and records of the servicer or foreclosing party should not be given the luxury of certain legal presumptions. The presumption that there is in fact a servicing de fault called by the bondholders may enough to force the parties actually prove the nonexistent transactions about which their assignments and endorsements are written.

Why? That is the  question everyone should be asking. If Ocwen was not servicing for the benefit of the REMIC Trust (and the bondholders) then who are they really…

NEW YORK (TheStreet) — Big banks are continuing to back away from offering mortgages, allowing nonbank lenders such as Freedom Mortgage and Quicken Loans to grab a bigger share of the market.

Although the big banks such as Bank of America(BAC – Get Report) , JPMorgan Chase(JPM– Get Report) and Wells Fargo(WFC) are still happy to provide mortgages to wealthy borrowers with strong credit records, they are much more cautious about higher-risk loans, even ones that meet underwriting requirements of government agencies such as the Federal Housing Administration, Fannie Mae(FNMA) , Freddie Mac(FMCC) or Ginnie Mae.

That has created an opportunity for nonbank lenders such as Freedom Mortgage, a privately held lender based in Mount Laurel, N.J.

Although fewer mortgages were originated last year than in 2013, Freedom Mortgage actually increased…

I am curious person.  I love research.  So it’s no surprise that I would attempt to research the trust that allegedly held the loan on my house.  I scoured the web for information regarding Home Equity Asset Trust 2005-6.  At first, there was no success.  I found a bit of information concerning a few of the tranches, but nothing really major.  It actually took me several years to piece all of this together.  Here is what I found:

Tranches

TRANCHE A1 – This is the tranche bought by JP Morgan and used as part of their employee 401(k) plan.  This is also one of the tranches in the Bill and Melinda Gates Foundation

TRANCHE B1 – Broken up into smaller tranches, these were arranged by Deutsche Bank AG London and issued by Ixion PLC, an Irish company.

1. Matrix 2007-1 Series 20 Tranche A B1
2. Matrix 2007-1 Series 20 Tranche B…