NY Judge Orders Discovery — AMBAC V EMC MORTGAGE

AMBAC Assurance Corporation v EMC Mortgage Corp, EDNY.July 9.2010.Motion to Compel Production

Now that these venerable institutions have turned into ankle biter’s, their claims to compel production and other forms of discovery are being heard by the same judges that turn down similar claims from borrowers. In this case AMBAC is suing one of the mortgage aggregators alleging that the aggregator  caused loans to be originated without regard to the ability of the borrower to repay the loan. They allege that despite the claim that the mortgage “pools” were sampled, many of the loans consisted of transactions in which the borrower was known not to have the capability of even making the first payment. In other cases, as we know, the loans were “qualified” simply on the ability of the borrower to make the first payment, which was substantially reduced by allowing the borrower to pay less than the accrued interest and not of the principal. AMBAC is therefore making the same claims as borrowers and investors.

It is clear from this case and other recent decisions at the trial court level that the defensive stonewalling tactics which were used successfully against borrowers are not working when the litigants are both institutions. This particular case was submitted to me by Max Gardner, who recognizes the significance of this development. It may seem like technical procedure to most people but the fact remains that these “pretender lenders” simply do not have a factual defense. The only thing they have our lawyers who are skilled in using civil procedure to avoid any possibility that the case will be  heard on the merits. This tactic, while successful against borrowers, is obviously going down the tubes in connection with litigation between institutions.

This will have an obvious and palpable effect on litigation with borrowers. Borrowers or their attorneys that represent them will merely cite  rulings in the same or nearby jurisdiction wherein discovery was allowed to proceed. Our experience in monitoring thousands of cases indicates that in the relatively few cases where judges allow discovery to proceed the matter was quickly settled or the party seeking foreclosure simply vanished, allowing the borrower to either get a judgment for quiet title by default or to sit in limbo with no party seeking payments or foreclosure.

19 Responses

  1. 3 many years ago I contracted strep. I received antibiotics but stopped them because it caused severe diarrhea.

    I didn’t get anything else and my strep went away or so I believed. A few months afterwards I extracted a wisdom tooth. Did not receive any antibiotics and my jaw locked up. The whole right aspect of my face was swollen for month. I used to be rushed into the ER cause they imagined I’d an
    infection. On the other hand soon after, ct scans and MRI, they could find absolutely nothing.

    I then made chorea followed by intense episode of dystopia on
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    For 6 months I could not move my appropriate arm. It felt like it wasn’t part of my body. I had surgery and so they found that your complete head of humerus was filled with pus and there was no bone. All that was left was a shell. They cleaned it out but could not definitively say that it had been strep since lab results came up empty. Considering the fact that the surgery, I’ve had strep each thirty day period.
    I’ve been on prolonged term antibiotics for six months in hopes that it would kill the strep. I have to check my heart and kidneys all of the time cause strep ordinarily impacts those people areas. The weird issue is which i even get the strep while on the antibiotics but my docs say that maybe I just ought to take it for lengthy adequate to see improvements. I often wonder if I’d taken the
    entire course of antibiotics that initially time if I’d be wherever I’m today.
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    of its intense attack on my body. If anyone has any tips on this it might be greatly appreciated.

  2. Neil – Have you seen what this journalist for The Atlantic wrote about the case being sealed. Sounds like just another tactic by JPM to hide the real issues of the case.
    http://blog.teribuhl.com/2010/11/26/why-does-jp-morgan-want-this-fraud-suit-sealed/

  3. Abby: How do you know for sure that it is a forged signature of Nagy?

    Is that a fact? Which one do you have a squiggle or a stamp?

    Has there been any conclusions that he had any authority to do endorsements for NCMC? At any time?

  4. Is MERS about to unravel?
    http://www.benzinga.com/10/07/369976/is-mers-about-to-unravel

  5. Mary
    the ps should be after the last sentence

    I have a forged Nagy signature on an assignment

  6. Mary
    Contact me at carra2009@gmail.com
    there are a group of us pro se’s and we are
    suing New Century up in their bkr court right now.

    some of us have filed late filed Proof Of Claims and had them approved.

    some are still pending approval

    we have filed Adversary Proceedings or APs

    In one of our latest hearings up there…judge carey said there is still 140 Million Dollars in cash. He also alluded to more money coming in as he had their bkr trustee sue KPMG for billions. KPMG was New Century/Home123 auditor.

    email me

    you also need to get exemplars of Steve Nagy signature

    ps the judge will not be helpful to you

    I have his name on a forged assignment.

  7. In their greed they robbed communities of filing fees and caused cities and counties to have budget crisis’s and potentially go bankrupt, and in doing so robbed themselves of having access to services like law officials that could patrol these (stolen) properties. Laughing, laughing, laughing.

    In this existence, you cannot violate another person’s free will and expect to remain in power. The law of Attraction (karma; what goes around comes aroud or what you put out you get back), and the Universe always makes sure there is a balance.

  8. I know nothing and if I think I know something I know nothing. I don’t give legal advice because I don’t know legal things.

    Anonymous Atlanta,

    We are affecting them.
    Repeating this link:
    http://www.calculatedriskblog.com/2010/07/weekly-summary-and-look-ahead_11.html
    Upper portion says:
    Also on Wednesday, the MBA will release the mortgage purchase applications index. This has been very weak after the expiration of the tax credit, although refinance activity has picked up significantly as mortgage rates have fallen.
    Lower portion says: (and shows a chart I like)
    MBA: Mortgage Purchase Applications Decrease

    MBA Purchase Index The MBA reports: The seasonally adjusted Purchase Index decreased 2.0 percent from one week earlier.

    “The Purchase Index has decreased eight of the last nine weeks.”

    A graph (at the link provided) shows the MBA Purchase Index and four week moving average since 1990.

    There has been a mini-refi boom because of the low mortgage rates, but the purchase index has fallen sharply to the levels of 1996.

    (they will always try to remain positive in their slanted way of presenting the news. Never expect them to let us know that we are affecting them. Its their news corporations and they control what we are told and how we are told…freedom of speech?…yeah their freedom of speech in controlling the flow of information to benefit them and keep us a debt slaves)

    Plus China has dropped US credit rating from AAA
    (seems China could care less what Moodys and the other rating agencies say – sheesh – they lied about the credit ratings of others, so why not the rating for the entire country..proof the rest of the world knows the ratings are biased, in my opinion)
    http://jessescrossroadscafe.blogspot.com/2010/07/china-ratings-agency-downgrades-us-debt.html
    The US sovereign debt gets a stiff downgrade, cut down from number one in the world, to a distant thirteenth place by China’s Dagong Credit Rating Agency.

    http://mandelman.ml-implode.com/2010/07/well-would-you-look-at-that%E2%80%A6-homeowners-scared-the-heck-out-of-fannie-mae/
    They call it their “Seven-Year Lockout Policy for Strategic Defaulters,” and if you haven’t realized it already… look what’s been accomplished here: Homeowners have scared the heck out of industry giant, Fannie Mae. I mean… these guys are shaking like leaves, absolutely running scared. I know homeowners have been feeling like they have no power against the bankers, but this should prove otherwise. It’s like we pushed the bully, and the bully ran home and got his Mom to come lay down a new rule in response.
    (this is a long post, but OMG, this guy rants and raves and jabs and digs and states what most of want to say but he has the venue to say it for us, whoopee)

    A commenter in this article states:
    Well done! Lets not bs ourselves on this. Homeowners are in control….What I find offensive is that most homeowners SHOULD NOT be talking to their servicers. …It is not just a strategic default, each time a consumer talks to a servicer or their lender they are giving information to be used against them. We have seen servicers demand consumers cash in their 401k’s, IRA’s to make their loan payments all at great tax risk and even in a bankruptcy the court could not order that and they would be protected.

    Some states have homestead laws. I remember early on when foreclosures were happening, and i think it was in Florida (don’t quote me), a guy was helping the homeless establish residence in the foreclosed homes. He couldn’t stand to see them sit empty when they could serve as shelter to get people off the street. The news person doing the story, was trying to discourage him; saying how wrong it was that he’d teach them how to homestead on someone’s property and end up with the house free and clear. I think you establish the place as your residence for a certain number of years and if found out after that time, and you can prove you’ve been there all that time, they can’t remove you. It’s yours. This is a good time for people in this country to get a home by homesteading. There is no amount of money the bankers can pay to check up on all their REO (stolen) properties. Some communities they will assume are ghost towns and it should be thriving quietly with homesteaders, all knowing what the other is doing and none letting the rest of the world know because it’s none of their business. And it’s not like stealing, since some states still allow it. Those old western shows like the Ponderosa, always had that family riding their horses out on their vast land, making sure no one was putting up a fence or living on their land without their knowledge to keep them from homesteading and making a default claim.

    The tides have turned, now what are we going to do about it?
    If you aren’t paying rent, homestead and put up solar panels and take that property off the grid. I’m sure there’s a lot of ways to get around the tyrants of money, the money changers. Their wealth is an illusion, because they always gauged consumer confidence, and our ‘belief’ that money had value is what kept this scheme going this long anyway.

    I’m waiting on the solar flare event that takes out the grid, erases all that digital data or makes it unavailable, and unfortunately it will wipe out bank account information too, but everyone will have a clean slate and can start fresh. Be always ready to trade or barter. Banks are accumulating ‘hard cash’, so there could be some truth in that mayan calendar..a wipe out and start over period. If we were a self sustaining civilization, we could ignore their money forever, and plant crops and barter and trade and do services among ourselves and draw on rocks and in caves and on scrolls what ‘really’ happened when we were fooled into their system and lock them out from establishing it again for generations to come

    All of this is my opinion since i don’t speak from actual knowledge of anything and references are just that, pointing somewhere else.

    All rights reserved.

    Light and Love

  9. yEAH! “BSE” the judges are not representing their constituents in AZ !!!!!!! How can we get these moved to a jury trial?? I bet I could learn the jury to hate the banks in AZ !!

  10. http://securities.stanford.edu/1042/RBS_01/
    http://www.cmht.com/cases/232/harborview-mbs-litigation

    RBS AKA Greenwich Financial along with Well and Deutsche Bank! the worst of the worst , Wells is who helped start and write MERS procedure to handle the mortgage documentation. Oakland Ca, Jerry Brown was the first to sue Well early on who the stole his retirement fund but after that did nothing to help anyone else an tried to hide it by calling them Auction rate security but what they were auction. … Asset-backed securities based on a portfolio of Mortgage-backed securities

    http://www.jerrybrown.org/node/199

  11. Anonomous Atalanta

    Homeowners continue loosing in AZ courts. Still
    we fight the American way. Never give up.

  12. I know nothing and if I think I know something I know nothing. I don’t give legal advice because I don’t know legal things.

    Anonymous Atlanta,
    The people will file for bankruptcy and the bankers will get their money through some alternate source, who knows maybe even from their social security accounts.
    People who file bankruptcy don’t even realize that they have NO creditors when that bankruptcy is approved, even before the judgment is signed, and they walk out of court rootm and talk to their ‘past’ creditors in the lobby or on the phone or respond to their ‘past’ creditors and reestablish the very credit that was wiped out and wonder why bankruptcy didn’t work. They know the first half and not the second half, and end up in worse trouble.

    Mary,
    The blank piece of paper sounds like an ‘allonge’. Their attempt to validate that Note as the original (wet ink signature original?) and prove how they obtained it? . That’s only part of proving standing
    You said, Order to answer was ignored. You are pro se and know that this assignment is bogus.
    If I remember correctly, and I know nothing, they can’t establish standing ‘after’ initiating a foreclosure proceeding, so they only got it half right. May explain why they aren’t answering your order.

    Neil’s post said
    ….in the relatively few cases where judges allow discovery to proceed the matter was quickly settled or the party seeking foreclosure simply vanished, allowing the borrower to either get a judgment for quiet title by default or to sit in limbo…
    So with no answer, maybe they are letting you sit in limbo?
    Maybe your next move is a quiet title, or to remain in limbo until they make the next move. After (an abandonment of their claim) a few years,, you can probably default them.
    Mary, in my lost post I stated I haven’t gone pro se or been in court because while they establish themselves in the real estate records, so have I established myself. I asked how to file a motion to dismiss. I must have went wrong by putting in an e-mail address for a response, but I’ve seen others add an e-mail address.

    Anyone have a link for those motions and orders so I can see examples? If it’s in the cases this blog has been posting, then I’ll go look, I just didn’t notice what I was looking at.

  13. THE 2ND REVOLUTIONARY WAR IN THE YEAR 2010, HISTORY IS ABOUT TO REPEAT
    ITSELF!!!!
    “THIS HAS BECOME AN UNDECLARED WAR IN THE CONTINENTAL UNITED STATES, PERPETRATED BY THE FACELESS COWARDS OF THE FINANCIAL INDUSTRY.

    IN 1803 THOMAS JEFFERSON REMARKED “THAT WHEN THE PEOPLE WHO CONTROL THE MONETARY SYSTEM AND GAIN CONTROL OF THE CITIZENS “THEY ARE MORE DANGEROUS THAN STANDING ARMIES”. IT IS NOT EXACTLY THE WORDING BUT THE POINT HAS BEEN DEFINED.

    WHEN THE PEOPLE OF THE “UNITED STATES OF AMERICA STAND UP AND AGAINST THE BANKSTER’S” BY STOPPING THE FLOW OF MONTHLY MORTGAGE PAYMENTS TO THESE CROOKED THIEVES THEN AND ONLY THEN WE WILL PUT A STOP TO THIS CRISIS.THIS CAN BE ACHIEVED BY STOPPING THE FLOW OF PAYMENTS THAT MAY NOT BE DUE AT ALL. WELL HOW CAN I SAY THAT, IT IS SIMPLE I DID NOT SAY THAT, THE FOUNDING FATHERS WROTE THE “DECLARATION OF INDEPENDENCE”, “THE BILL OF RIGHT’S” AND “THE CONSTITUTION OF THE UNITED STATES OF AMERICA” FOR REASONS THAT WE AS A NATION AND A MEMBER OF THE GLOBAL COMMUNITY HAVE FOUGHT TO PROTECT US FROM WHAT IS HAPPENING ALL AROUND ALL OF US FROM 360 DEGREES ALL AROUND. OUR LITTLE TEA PARTY’S ARE A NANOTECHNOLOGY THAT LOOKS AND FEELS GOOD BUT HAS NO TEETH IN THIS “PC”WORLD. WE DON’T NEED BULLETS OR ARMED SOLDIERS, WE MUST SEND A VERY STERN MESSAGE OF NON PAYMENT TO THESE BANKSTA’S AND INTERMEDIARARY’S AND WHEN WE UNDERFUND AND CRIPLE THE FLOW OF CASH WE WILL HAVE BEEN HEARD AND IT IS THEM AGAINST US, NO MATTER WHO YOU ARE AND WHAT YOUR ECONOMIC SITUATION IS. Matter of fact the perpetrators’ are in grave danger and the longer this continues their personal safety is in imminent “DANGER”. They will be forced into hiding and will always have to look over their shoulders, much like the mobs of the earlier decades have shown. BLOOD (MONEY) IS WHAT WILL BE THE ULTIMATE PRICE AND NO MONEY CAN MAKE YOU ALIVE AGAIN. YOU REAP WHAT YOU SOW, SO STAND FIRM, SPEAK OUT AND BE A SOLIDER THAT WOULD MAKE THE HISTORY BOOKS, AND BEST OF ALL……STOP PAYING IN AN NON DEBTORS PRISON COUNTRY SHEEDS NO BLOOD AND MAKES HEROS AND ORDINARY PEOPLE WITH AN EXTRORDINARY MISSION. NO VIOLENCE, NO BLOOD SHED AND BEST OF ALL WE CAN LEGALY BRING THEM TO THEIR KNEES.
    THIS IS FOR CONSIDERATION AND DEBATE AND THE VIEWS PRESENTED HEAR FALL UNDER “MY FREEDOM OF SPEECH RIGHT’S, SO IF I HAVE OFFENDED YOU RESPOND TO ME AND I WOULD BE GREATFULL FOR YOUR VIEWS. I AM NOT A LAWYER SO SEEK LEGAL COUNCIL IN YOUR AREA AND READ SOMETHING THAT MAY INSPIRE YOU “TO ACT LIKE AN AMERICAN”

  14. Neil, my post was awaiting moderation and now it has disappeared.

  15. Seems you have conflicting claims. The assignment is bogus.
    I could buy that. So that would mean you’ve done no business with the entity and therefore they have no claim against you?

    As I understand, standing cannot be established ‘after’ a foreclosure is initiated, so that two month window may be to establish standing.

    The Note is unsigned, then it would appear there is a valid agreement and a technicality with whether you are looking at the actual note is a basis for your claim.

    I think that paper you are describing is the ‘allonge’ to show the note being transferred and that endorsement is the endorsement in blank.

    You say:
    I put in motion to dismiss, affidavits, lack of standing

    Then you say there is no response.

    Shouldn’t you ‘wait’ to see what happens next or seek that quiet title by default?
    Neil’s post above says this:

    …the relatively few cases where judges allow discovery to proceed the matter was quickly settled or the party seeking foreclosure simply vanished, allowing the borrower to either get a judgment for quiet title by default or to sit in limbo with no party seeking payments or foreclosure.

    Is that what’s happening to you? You are left in limbo with no party seeking foreclosure?

    I haven’t done anything pro se, yet.
    Most of mine has been outside the court with papers filed in the real property records (public) to establish myself while they file papers to establish themselves.

    I would like to know where you found your documents to do a motion to dismiss and where to look for how to do a quiet title.

    vivian000000@gmail.com if anyone has this info.

  16. P.S. Last of any filings was January 2010.

  17. I am in foreclosure pending. Motion to compel and I got order was granted in 12/09 for plaintiffs to produce and answer. Two questions were answered by Marti Noriega of Litton Loan servicing out of many, all objected to and claimed priveledged, etc. The assignment recorded in county two months after suit filed, has Marti, litton loan servicing lp, as Mers officer, assigning mortgage for defunct/bankrupt New Century. 21/2 years after they went under. I put in motion to dismiss, affidavits, lack of standing and nothing. Again, Order to answer was ignored. I am pro se and I know that this assignment is bogus and the supposed Note (which they allege is original) I got a copy of. No endorsement on Note itself, just a stamp (which appears to be a copy of the stamp, and no coprorate seal either) signature of Steve Nagy, as vp records management, pay to the order, without recourse, which is blank on a blank piece of paper. At the bottom of a blank piece of paper. This is also bogus, I believe.

    Should I file a motion for contempt, or file another Motion to dismiss with sanctions???

    In the county records, my judge has been assigned again, the attorney for Plaintiffs has been replaced, without notice to me and now county records have cases listed with foreclosure project and for tracking purposes only, what is that.

    Any help would be great.

    I have sent a letter to BK Delaware concerning NCMC about filing of late claims, etc.

    But would like some advice in my next steps against this pretender lender and this assignment. Thanks.

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