Sometimes (most of the time) we have to wonder – whose bright idea was the foreclosure and eviction moratorium? Did they have no sense of consequence? The idea in and of itself was good at the time – but the execution leaves a lot to be desired. Why in the world would the Congress agree to a moratorium of mortgage payments be allowed to use a “forbearance” program?! Here we go again.
March 1, 2021 MEDIA CONTACT: Office of Communications Tel: (202) 435-7170
NEW REPORT FROM CONSUMER FINANCIAL PROTECTION BUREAU FINDS OVER 11 MILLION FAMILIES AT RISK OF LOSING HOUSING Federal foreclosure moratorium slated to end June 30, 2021 WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least three months on mortgage payments, while 8.8 million are behind on rent. Homeowners alone are estimated to owe almost $90 billion in missed payments. The last time this many families were behind on their mortgages was during the Great Recession.
Obviously, there are some ostriches in Hawaii when there are thousands of forgeries and fraudulent documents that have been filed in its Bureau of Conveyances over the last 8 years, but the registrar says: “only a handful of bogus property deeds get thrown out by the courts every year.”
Maybe somebody ought to suggest a land record audit or just gather up all the foreclosure forgeries and sue the Bureau of Conveynances for ignoring fraud and total incompetence. Continue reading →
Nothing is more depressing than a state court judge that obviously favors the bank’s attorneys – even when the evidence clearly says the trust bank claiming to hold the documents is not the real party in interest. How could a securitized trust not have to follow the UCC securities code, Articles 7-9?
How could an actively trading trust with certificates issues against a static financial asset become a “Holder” under UCC Article 3 when the financial instrument is supposed to be non-negotiable until it is purchased at face value from the trust (to pay off the certificate holders)?
Personally, every case that gets reviewed and every transcript that is read where the Assignment of Mortgages are plainly fabricated and the judge turns a blind eye when he knows the bank attorneys are defrauding the court, just smacks of judicial corruption. And in America – this is very, very sad. Continue reading →
When a unknown bank named as a Trustee for a securitized trust (usually Deutsche Bank, Bank of NY Mellon, US Bank National, etc.) sends you a letter stating you owe them money and you are in default, the first thing you should do is contact a local title company and have them look for an Assignment of Mortgage under your address or tax key number (it won’t likely be under your name). Chances are the Assignment of Mortgage is fabricated and void; however, this is the breeder document that allows the banksters to foreclose.
The following information will assist you in searching the Securities and Exchange Commission (SEC) for the alleged trust. Continue reading →
Part 2 – How to Challenge an Assignment of Mortgage by Glenn Augenstein continued from Part 1on DeadlyClear.
Glenn Augenstein, a seasoned researcher and expert witness in foreclosure fraud, has taken the time to research the ancient word “seisin” which gives us better insight into what the mortgage document was meant to convey.
Recent Case Law
Wells Fargo v Erobobo
On this I must first comment that standing, or lack thereof, is considered differently in some jurisdictions than it is others. Some treat it as an affirmative defense that must be pleaded timely or it is considered waived. “Because the issue of standing is distinct from the issue of subject-matter jurisdiction and, thus, can be waived, we hold that Continue reading →
Municipal workers could be robbed of pension funds to pay big banks for payments due on interest rate swaps.
The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Cyprus, the depositors were “bailed in” (stripped of a major portion of their deposits) to re-capitalize the banks. In Detroit, it is the municipal workers who are being bailed in, stripped of a major portion of their pensions to save the banks.
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. Continue reading →
A landmark decision was made this week in Culhane v. Aurora in the United States Court of Appeals For the First Circuit without a complete set of facts set out before what appears to be its clueless judges.
The case decision, an APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS was to some degree based on the merits of standing answering the question: “Whether a mortgagor has standing to challenge the assignment of her mortgage — an assignment to which she is not a party and of which she is not a third-party beneficiary — is a matter of first impression for this court.” Continue reading →
Never let it be said that where there is big money invested, there won’t be crooks in the kitchen. It doesn’t matter how big you are there’s always a short cut that can that can potentially create more wealth – if you don’t get caught.
An investigator in the northwest uncovered just such a scam – so big that authorities claim it needs multi-state attention. It appears Green Tree Servicing has been flying under the radar and was hardly noticed until a recordation research team began uncovering similarly signed documents – yup, the old robo-signed Assignment of Mortgage trickery again… but this time new and improved via computer, maybe for speed and precision, ya think?
It appears the signatures are in the computer – no dummies needed to sign – just fill in the Continue reading →
The new word in the securities fraud cover-up banter is “ministerial” – and so very far from the truth.
On April 2, 2007, New Century Financial Corporation and its related entities filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court, District of Delaware and is currently heard and administered by the Honorable Kevin J. Carey.
With the filing of bankruptcy, New Century took down a list of affiliate / entities including New Century Mortgage Corporation, Home123 Corporation, New Century Mortgage Ventures, Midwest Home Mortgage, among a host of others. New Century was one of the Continue reading →