TUNE IN, CALL IN AND SHARE THE EXPERIENCE WITH JON LINDEMAN, NEIL GARFIELD STREAMING LIVE SUNDAY MORNING, BROADCAST FROM ORLANDO TO THE KEYS, AVAILABLE STREAMING AUDIO NATIONWIDE.
877-850-8585 call in
Streaming at: http://delicast.com/radio/florida/850_WFTL or go to http://www.850wftl.com and click “listen live” on the upper left part of the page but you’ll have to save and open a file…
Jon and I will share our thoughts and take calls on tactics, strategies and ideas on tackling the pretender lenders and pursuing options for homeowners looking for justice.
Filed under: foreclosure |
READ BELOW!
M.Soliman / expert.witness@live.com
Want good discovery before you go into court ? Your production request of the defendant will bury the opposition in discovery (below) and will show the FDIC member bank was crossing way over the line with FIERREA.
There one and only defense against capitulating to violating FAS 140 and any controlling interest in assets sold is . . . the “Sale” . . . they will claim it was a “bona fide transfer.
Well then….Hmmmmm. Who are the parties foreclosing on you? Washington Mutual or IndyMacBank…two broke banks in receivership? Or maybe their successor by merger One West Bank Fest and Chase Lounge Bank?
Sure, they will foreclose after repurchasing half a trillion in toxic assets?
Obama would love to here about that! We are winning over here and thats a fact…stay tuned as we go to trial after 2 years on seperate matters in Oregon and No California. Also testifying in a matter 2 yeasrs old before the Appellate court again later this month. Remand …bring it back!
Read on . . .
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CDO Asset Manager
The asset manager’s role begins before the CDO is issued. Months before a CDO is issued . . . .
a bank will usually provide financing to enable the manager to purchase some of the collateral assets that may be used in the forthcoming CDO in a process called warehousing.
Even by the issuance date, the asset manager often will not have completed the construction of the CDO’s portfolio. A “ramp-up” period following issuance during which the remaining assets are purchased can extend for several months after the CDO is issued.
For this reason, some senior CDO notes are structured as delayed drawdown notes, allowing the asset manager to drawdown cash from investors as collateral purchases are made. When a transaction is fully ramped, its initial portfolio of credits has been selected by the asset manager.
However, the asset manager’s role continues even after the ramp-up period ends, albeit in a less active role.
During the CDO’s “reinvestment period”, which usually extends several years past the issuance date of the CDO, the asset manager is authorized to reinvest principal proceeds by purchasing additional debt securities.
Within the confines of the trading restrictions specified in the CDO’s transaction documents, the asset manager can also make trades to maintain the credit quality of the CDO’s portfolio.
The manager also has a role in the redemption of a CDO’s notes by auction call.
The manager’s prominent role throughout the life of a CDO underscores the importance of the manager and his or her staff.
There are approximately 300 asset managers in the marketplace. CDO Asset Managers, as with other Asset Managers, can be more or less active depending on the personality and prospectus of the CDO.
Asset Managers make money by virtue of the senior fee (which is paid before any of the CDO investors are paid) and subordinated fee as well as any equity investment the manager has in the CDO, making CDOs a lucrative business for asset managers.
These fees, together with underwriting fees, administration{approx 1.5 – 2%} by virtue of capital structure are provided by the equity investment, by virtue of reduced cashflow.
city ordinance not allowing the banksters to do business in our communities is the only way.
Any new homeowner program will start with– “If homeowner is current”. The banksters will do anything to collect more money for as long as they can.
CNBC will float this off their tongues as if their next bottle of Chateau Margaux depended on it!!!
Did anyone record the show?
Stan
Racine, Wi.
Eule,
Thank you for that link.
If that new program is anything like HAMP, good luck to all who apply!
In the meantime, nothing more is being done for those of us already in default.
IS there a way to get a recording of this broadcast? I would like to listen to it.
Starting on Tuesday from Wall Street Journal :
http://online.wsj.com/article/SB10001424052748704323704575461920164400014.html?mod=WSJ_hps_LEFTWhatsNews
May somebody could give me an answer :
If the promissory note can not be raised ,I can not sell that house ? correct ? If I sue the last server ,to
provide it , and he is not able to do it , should the last server not return the money , what he collect over
some years ?
What will happend to the house ?
Anyone listen to the show this morning. I’d say there was nothing more said there than you can learn here. I never heard Neil speak either. Did I miss something?
nOW IF YOU NEED ANY TYPE OF INFO ON YOUR mers CRAPPY mORTAGE, YOU WILL NEED TO GO THROUGH SOME OBSCURE DESK, AND THROUGH AN UNDERPAID, UNQUALIFIED, SCRIPTED, POOR INDIAN WOMAN OR MAN, THAT WILL THEN TELL YOU THAT THAT IS ALL THEIR CAN DO FOR YOU AND REPEAT THE SCRIPT THREE HUNDRED TIMES BECAUSE THAT IS ALL THE HAVE IN FRONT OF THEM. MERS OUTSOURCES YOUR MORTGAGE INFO TO AN OVERSEAS CONCERN. I HOPE YOUR PRIVATE INFO IS NOT BEING MARKETED OR STOLEN BY A FOREIGN ENTITY.
BUT WALL STREET IS MAKING MONEY, WHO CARES, RIGHT!
ANOTHER PLAYER IN THE GAME, ANOTHER HURDLE TO OVERCOME, MORE PEALS, MORE OBSCURITY.
WHEN WILL THEIR CHARTER TO DO BUSINESS WILL BE REVOKED?
MERS Awards Seven-Year Mortgage Services Contract to Genpact
Genpact to Manage and Improve Business Processes and Member Helpdesk Services
Download PDF
NEW YORK – August 5, 2010: Genpact Limited (NYSE: G), a global leader in business process and technology management, today announced that it will provide mortgage services support and member-facing helpdesk services for MERSCORP, Inc. (MERS), the mortgage finance industry’s electronic loan registry system. More than 60 percent of all newly-originated mortgages are registered on MERS.
Under this significant seven-year agreement, Genpact will perform business process services in the United States for MERS, including managing the receipt, identification and delivery of mortgage-related correspondence on behalf of MERS 2,500 members while working to improve the quality and accuracy of the underlying business processes. Typical mortgage-related correspondence includes physical and electronic receipt and delivery of recordable documents, notices of foreclosure or bankruptcies and requests for discharge of a mortgage. Genpact will also manage the MERS helpdesk operations and drive improvement in service quality to MERS member companies while lowering costs. Genpact will begin providing the services in December 2010.
“In keeping with our mission, we are constantly looking at ways to further improve the quality of our critical services to members,” said R.K. Arnold, president and CEO, MERS. “Genpact presented us with a compelling solution, and we felt our commitment to service excellence and quality could be heightened by taking advantage of Genpact’s end-to-end process thinking and methodology as well as their recognized mortgage services capabilities.”
“MERS and Genpact have been working on a highly coordinated transition plan and MERS members should expect no disruption in service as a result of the planned migration,” Arnold added.
“MERS has long been recognized as a critical provider to its mortgage industry members” said ‘Tiger’ Tyagarajan ,COO of Genpact. “It has been at the forefront of making the industry more efficient and transparent. We are really excited that we can bring our unique and proprietary framework around processes, Smart Enterprise Processes (SEPSM), to drive customer service quality up for MERS. Genpact is honored to be MERS’ new outsourcing partner through this critically important engagement.”
MERS was created by the mortgage banking industry to streamline the mortgage process by using electronic commerce to eliminate paper. Its mission is to register every mortgage loan in the United States on the MERS® System. Since 1997, more than 65 million home mortgages have been assigned a MIN and have been registered on the MERS® System.
“Genpact, through its Mortgage Services business, delivers specialized mortgage support to a number of leading industry participants, leveraging its unique Smart Enterprise Processes (SEPSM)approach that combines process excellence, technology, analytics, re-engineering and insights into one framework to drive the overall effectiveness of its mortgage clients’ critical business processes. For MERS, Genpact will leverage key components of its (SEPSM) approach, including using a proprietary technology solution, mortgage talent sourcing, and quality assurance to improve accuracy and member satisfaction.
About Genpact
Genpact is a global leader in business process and technology management, offering a broad portfolio of enterprise and industry-specific services. The company manages over 3,000 processes for more than 400 clients worldwide. Putting process in the forefront, Genpact couples its deep process knowledge and insights with focused IT capabilities, targeted analytics and pragmatic reengineering to deliver comprehensive solutions for clients. Lean and Six Sigma are an integral part of Genpact’s culture and Genpact views the management of business processes as a science. Genpact has developed Smart Enterprise Processes (SEPSM), a groundbreaking, rigorously scientific methodology for managing business processes, which focuses on optimizing process effectiveness in addition to efficiency to deliver superior business outcomes. Services are seamlessly delivered from a global network of centers to meet a client’s business objectives, cultural and language needs and cost reduction goals.
About MERS
As the real estate finance industry’s utility, MERS saves lenders time and money by reducing paperwork when trading residential and commercial loans. MERS also operates the MERS® eRegistry, the system of record which identifies the owner and custodian of an eNote. For more information, see http://www.mersinc.org.
For more information:
Genpact Media Relations
Gail Marold, +1 919-345-3899
gail.marold@genpact.com
For Genpact
Kristen Stippich , +1 212-880-5278
kristen.stippich@opr.com
For Genpact
Arunita Duttai, +91 9811740901
arunita.dutta@bm.com
Media Contacts
If you have any specific questions about our business or future plans, please contact:
Gail Ferrari Marold
Genpact Media Relations, Americas
Email: gail.marold@genpact.com
Phone: +1 919 345 3899
Sonia Kumar
Genpact Media Relations, India
Email: sonia.kumar1@genpact.com
Phone: +91 124 402 2000
Kristen Stippich
Ogilvy Public Relations Worldwide
Email: kristen.stippich@ogilvypr.com
Phone: +1 212 880 5278
Arunita Dutta
Genesis Burson-Marsteller, India
Email: arunita.dutta@bm.com
Phone: +91 981 174 0901
To Jose,
All that you have said is true. I have been saying this for the past 2 years. The economy isn’t going to get better for a long time because the banks have all but buried the economy. You cannot rely on the consumer to bail out the economy. Banks are foreclosing in an unconstitutional manner. My analysis clearly shows that banks created under acts of Congress for public and national purpose are not entitled to use power of sale provisions in a mortgage contract yet the still do because the federal appellate courts have failed to follow several Supreme Court which have determined that the activities of these types of corporations are GOVERNMENTAL AND NOT PROPRIETARY. When it does catch up, the class action lawsuits against the banks for depriving homeowners of property without procedural due process will flourish. Hope they get reamed. The banks and their lawyers do know but they don’t care. They want to continue do these procedures because it is a quick and cheap way to redeem the property even though most of the loans were predatory. Now the banks are lobbying in Florida which is a judicial foreclosure state to go non judicial. I am trying to get the city of Sacramento to use my research to send a letter to the regulatory agencies to issue a cease and desist order and if they fail to comply to go to federal court seeking a writ of mandamus to order those agencies to comply.
If you want a copy of my research and video pleas to the city email me at reuben.nieves@yahoo.com
You need to join me in this effort to stop these types of foreclosures if not in Sacramento in your city.
Reuben Nieves
916 247 6260
If
let us some math, and let us figure why this economy will not recover until justice is served on behalf of us the real victims.
1.-Over 5 million foreclosures in the last four years.
2.-Over 15 million people burned with bad credit, foreclosures, bankruptcy, etc.
3.-Over 15 million people lost their shirts, savings, etc., as a direct result of the foreclosure mess and I am being conservative.
4.-This number will continue to rise with the combination or the unemployed and those being foreclosed to about 25 million to 30 million people in the next two years.
When is the US Government and our local official face the music and tell the truth. What ever growth we allegedly have generated, I truly believe is based on the growing debt burden of America.
If we had used all the Bail Out money in reducing the mortgage balances of all the home owners in America we could have saved at least half of the money given away to the criminal element.
And our illogically spending based economy would be humming along since we would have plenty of spending cash.
But the fat cats in Wall Street do not want that. All the arguments they are using in front of congress is old and irrelevant. If it was all true we would not be in a crisis.
The judges are concerned because they do not necessarily understand how bad their decisions are because they are made out of ignorance. Yes the may know the law, however, they still believe the world is the same as it was 40 or 50 years ago.
If we do not take our plight more public, if we do not push harder, we will be out of the news and old news are not news.
We need to keep pushing, the more cases in court the more chances we have one judge is going to finally realize that we are for real.
The more resources the enemy will have to spend defending their fraud and the more likely the outcome will be to our favor. I know this is difficult to achieve, but is is probable.
Let us be more open, let us be more outspoken.
Get rid of the shame and the stigma, fight.
Streaming at: http://delicast.com/radio/florida/850_WFTL or go to http://www.850wftl.com and click “listen live” on the upper left part of the page but you’ll have to save and open a file…
Hope you record it because I am at another seminar. I hope it goes well adn KUDOS for doing it.