Sometimes You Have to Dig Deeper to Connect the Dots and Get to The Real Truth. Maybe PNC Never Really “Owned” the Loans?

Posted on February 21, 2017 by Deadly Clear

United States District Court, E.D. California.
GENET HABTEMARIAM, Plaintiff,
v.
VIDA CAPITAL GROUP, LLC; US MORTGAGE RESOLUTION; PNC BANK, NATIONAL ASSOCIATION; and DOES 1 to 50, inclusive, Defendants.

No. 2:16-cv-01189-MCE-GGH.
February 13, 2017.

Some three years later, PNC notified Plaintiff by mail that its SDOT was discharged, apparently due to a settlement agreement PNC had reached with various agencies of the United States government. PNC effectuated that cancellation by sending a 1099-C form approved by the Internal Revenue Service for cancelling a debt. Plaintiff received the Form 1099-C on or about June 29, 2010. According to Plaintiff, because the 1099-C cancelled the amount she owed on the second mortgage, she believed it legally released her from any further obligation to pay Continue reading →

USA v. Minas Litos and Adrian and Daniela Tartareanu | 7th Circuit halts fraud restitution, urges fine for ‘reckless’ Bank of America

Posted on February 15, 2017 by Deadly Clear

Wow! Judge Posner gets it! “Posner detailed the bank’s dubious mortgage-lending history during the real-estate bubble leading up to the Great Recession, noting for instance one woman to whom the bank issued six mortgages in a 10-day period. Posner noted that District Judge Philip Simon said during sentencing in this case, “Bank of America knew [what] was going on. They’re playing this dance and papering it. Everybody knows it is a sham because no one is assuming any risk. So what’s wrong with saying they’re [of] equal culpability?””

Congress wants to hear from YOU! How has Dodd-Frank affected you?

Posted on February 14, 2017 by Deadly Clear

Rep Hill – Read my blog. Dump Dodd-Frank and watch the banks fail. It’s merely a crutch the banks and Fed use for why they can’t succeed…laughable. Get your money out of Wall Street and let ’em go. Then reinstate Rep Gabbard’s NEW and IMPROVED Glass-Steagall.

The swamp expands: Steven Mnuchin sworn in as Treasury Secretary

Posted on February 13, 2017 by Deadly Clear

Sad.

Justice League

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Despite all the bluster, attempted parliamentary maneuvering, and name-calling from the Democratic party, the Senate voted Monday evening to approve Steven Mnuchin to serve as the next Secretary of the Department of the Treasury.

As expected, the Senate approved Mnuchin in a partisan vote of 53-47, with one Democrat, Sen. Joe Manchin, D-West Virginia, splitting from his party and voting with the Republican majority.

Read on.

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CitiGroup Whistleblower Richard Bowen: The Immaculate Corruption

Posted on February 9, 2017 by Deadly Clear

The Immaculate Corruption which Treasury Secretary Geithner, under the Obama administration, protected.

When the Debtor Holds a Junior Lien: Can a Senior Lien Creditor March On or Is It Stayed?

Posted on February 8, 2017 by Deadly Clear

With a HOA or AOA do homeowners have much “interest” in anything besides the sticks of the unit? Apparently, not. Depending on the state laws and knowing the ways the rehypothecation of the homeowners’ collateral works with the banks, it appears it would be prudent to always file a mortgage lien in the records office… some states, like Hawaii, are first come first served. It appears Banks don’t file mortgage assignments until the homeowner defaults because they are reusing the collateral and merely pledged the note to the securitized REMIC trust, until default.

Bankruptcy-RealEstate-Insights

Invest Vegas, LLC v. 21st Mortgage Corp. (In re Residential Capital, LLC), 556 B.R. 555 (Bankr. S.D. N.Y. 2016) –

A debtor held a note secured by a first priority deed of trust on property that was also subject to a super priority homeowner’s association lien securing delinquent assessments against the property. The HOA foreclosed its lien after the debtor filed bankruptcy. The issue for the bankruptcy court was whether the HOA violated the automatic stay, and thus whether the deed of trust was extinguished by the foreclosure.

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Baltimore Whistleblower Teacher Says ‘All Systems Down’ in City Schools

Posted on February 5, 2017 by Deadly Clear

Expect a lot of this. $3.4 TRILLION of pension funds nationwide gambled away on Wall Street. Investigations need to be launched against finance directors, state & federal government legislators and former administrations and union leaders. Get to the bottom of why these investments were made. Pension funds must be invested in TRIPLE A and LIQUID investments – (non- traditional) mortgages (MBS) are not liquid unless forced into default… school loans (ARS) are certainly not a secure investment and credit cards (ABS) have a history of failure… and we know the TRIPLE A ratings were rigged. Oust the bad guys – including politicians that promoted the derivative investments.

See -Maryland $50 billion in unfunded state and local retirement benefits, study says: http://marylandreporter.com/2013/10/30/50-billion-in-unfunded-state-and-local-retirement-benefits-study-says/

See also: City pension officials spend nearly $100,000 on trips: http://www.baltimoresun.com/news/maryland/baltimore-city/bs-md-ci-pension-travel-20150318-story.html#page=1

Check you state’s pension fund disaster: http://www.pensiontsunami.com/public.php

Justice League

Longtime educator gives an inside view of deplorable conditions and poor learning environment as city officials prepare to layoff nearly 1000 employees to address budget deficit crisis.

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Break up the Big Banks and Hold Wall Street Accountable for Their Risky Investments

Posted on February 3, 2017 by Deadly Clear

We must create a banking system that works for every American—not just Wall Street CEOs—and enact and strengthen reforms that will protect our economy from another massive collapse. Tulsi is a cosponsor of legislation such as the Return to Prudent Banking Act (H.R.381) and the 21st Century Glass-Steagall Act (H.R.3711) to help protect Americans from big banks’ roll of the financial dice. To help ensure the financial stability of our nation, Tulsi is continuing to fight against dangerous behavior on Wall Street where investors take big risks on the backs of American taxpayers. She has urged criminal investigations of Wall Street executives who take money from American taxpayers, such as what recently happened with Wells Fargo, the nation’s largest “too big to fail” bank.

“I will always fight against the schemes of Wall Street to make risky investments on the backs of American taxpayers.” -Rep. Tulsi Gabbard

Mnuchin Lied About His Bank’s History of Robo-Signing Foreclosure Documents

Posted on January 26, 2017 by Deadly Clear

Boy, is that slick…so, who did they hire outside of the company to create the forgeries…or was this the work of the GSEs? “We didn’t do it inside our company, your honor… forgot to mention “It was farmed out.”

Justice League

TREASURY SECRETARY NOMINEE Steven Mnuchin lied in his written responses to the Senate Finance Committee, claiming that “OneWest Bank did not ‘robo-sign’ documents,” when ample evidence proves that they did.

Mnuchin ran OneWest Bank from 2009 to 2015 in a manner so ruthless to mortgage holders that he has been dubbed the “Foreclosure King” by his critics.

The robo-signing scandal involved mortgage companies having their employees falsely sign hundreds of affidavits per week attesting that they had reviewed and verified all the business records associated with a foreclosure — when in fact they never read through the material and just blindly signed off. Those records, in many cases, were prepared improperly, but the foreclosures went ahead anyway because of the fraudulent affidavits.

“Did OneWest ‘robo-sign’ documents relating to foreclosures and evictions?” Sen. Bob Casey, D-Penn., asked Mnuchin as a “question for the record”.

Mnuchin replied that “OneWest Bank did not…

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Fraud: An American History from Barnum to Madoff

Posted on January 23, 2017 by Deadly Clear

CREDIT SLIPS Email:

Not a moment too soon, Princeton University Press has just released Fraud: An American History from Barnum to Madoff by historian & Duke University Vice Provost Ed Balleisen. (Some readers might be familiar with his earlier book on bankruptcy in Antibellum America).

As I learned when reviewing an earlier draft, Fraud is meticulously researched and completely fascinating, with plenty of careful attention to law and regulatory structures. The book’s other virtues are well encapsulated by Kirkus:

“Balleisen casts a gimlet eye on the passing parade of hucksters and charlatans, peppering a narrative long on theory with juicy asides that build toward a comprehensive catalog of ‘Old Swindles in New Jargon’. . . . Ranging among the disciplines of history, economics, and psychology, Balleisen constructs a sturdy narrative of the many ways in which we have fallen prey to the swindler, and continue to do so, as well as of how American society and its institutions have tried to build protections against the con. But these protections eventually run up against accusations of violating ‘longstanding principles of due process,’ since the bigger the con, the more lawyers arrayed behind it.“—Kirkus Continue reading →