WEIDNER: BIGGEST RICO CASE ON EARTH

by Matt Weidner on IRS Form 938

Sometimes this all becomes a bit too overwhelming, trying to unravel this whole foreclosure cataclysm.  This is so far beyond the simple situation where a borrower borrows money from a bank and doesn’t pay….that bank is clearly entitled to their money back.

I’m a fairly bright guy with a good education and a fair to ‘middlin grasp on complex legal issues….I just boil down way complex stuff to smaller parts and learn those complex issues piece by piece.  The problem we face in foreclosures today is no-one has any idea who’s really owed money on these mortgages, who is entitled to collect payments on the mortgages, what government money was used to bail out mortgages.

Sophisticated attorneys with years of complex litigation and legal experience are perplexed by the inability of Plaintiffs to answer the most basic questions about litigation.

Experienced circuit court judges with decades of trial court, evidentiary and complex litigation experience have started to ask real questions about the millions of dollars in foreclosure judgments they’re signing every day in their courtrooms to entities that they cannot identify.

Federal judges with hundreds of years of experience are really starting to dig into documents filed and representations made by the parties that appear before them….there are real questions being raised in bankruptcy courts and even bigger questions about fraud and collusion and federal crimes at the highest levels of American businesses.

Thrown into all these questions are some thought provoking comments and research from a subscriber to this blog, like I said, it’s a bit beyond me now, but consider his words….

The best way to prove this mess all got dissolved is to go to the IRS.gov website and look for the publication # 938 for 2006 through the present.   This is where you will see that the gain on sale reporting etc all stopped as the securitization machine was turned off temporarily in late 2007.

The trusts were all named and reporting until the end of 07 then 08 is missing??????.
They restart the reporting in 09 but it is down to only Ginnie/Freddie/Fannie/JPM/Citi and random trusts that have been created. The government absolutely knows what happened yet seems to help cover this up thinking we are too dumb to catch it.

2009 reported in 2010
http://www.irs.gov/pub/irs-pdf/p938.pdf

2008? is missing and reverts to the 2009 file?? Don’t believe me. try it.
http://www.irs.gov/pub/irs-prior/p938–2009.pdf

2007 reported in 2008
http://www.irs.gov/pub/irs-prior/p938–2007.pdf

They seriously think we are that stupid. What are they hiding from us? Maybe that the banks have committed billions upon billions in tax evasion.  Follow what is happening in non-judicial states and you will see the arrogance. They actually show us the blank note endorsement from the original lender yet no recording of the interest through the depositor to the trust. Lack of standing?

Then when they are finished stealing the house they sell the loan from the unlawful foreclosing party(trust) that had no standing to F/C back to the trust through a POA to the servicer and effectively cover their tracks that the loan was never in the trust, they still stole the investors money, and they still claimed the tax exemptions under REMIC.

All while the Govt and IRS watch.

Look at the WAMU BK. They were found to have a 10.3 Billion dollar tax claim filed against them that was reduced to 33M yet Chase got to walk away with a 300 Billion dollar bank 200M in mortgages for 1.9Billion. The loans were shown to have been written down to $0 yet they still want to collect?

Along with the Pub 938 you can review Pub 550 that explains the tax exemptions etc for the REMIC trusts.

No assignments were done as required, no “true and absolute sales under FASB 140″ were ever perfected, No standing has ever been established for most or all of the securitization trusts.

This is the biggest RICO case on earth.

Oh, and maybe we should review who funded LPS…..JPM/BOA/Wachovia when they split off of FIS in 2008.

19 Responses

  1. If our State AGO is protecting the criminal bankers and assisting MERS Fraud to operate without protecting consumers, Is that aiding and abetting or conspiracy to defraud consumers?

  2. Where does FDIC get jurisdiction to tell our State courts where to get off?

  3. […] This post was mentioned on Twitter by Wanta Freedumb, Wanta Freedumb. Wanta Freedumb said: WEIDNER: BIGGEST RICO CASE ON EARTH: http://t.co/UvdD50J you can't expect a person that has done college for@ least 8yrs to be this stupid! […]

  4. I agree with the said article but there are ways of thinking

    משכנתא

  5. @ bse,

    F/C = Foreclosure

    POA = Power of Attorney

  6. There has been very little reporting of attempts to go after these guys using RICO provisions, be they federal or state. Any cases decided or in progress where one might read up? Using RICO is tricky as a felony is required, however attempting to steal a $300,000 home should qualify.

  7. You are mistaken re Pub 938. The annual Pub 938 lists only NEW REMICs and CDOs, and those with an amended listing.

    What you see is pretty much what one would expect given “securitization machine turned off in late 2007”, and only Ginnie/Freddie/Fannie/JPM/Citi and a few other random trusts created in 2008.
    .

  8. I am in the bank fraud trifecta zone. MERS to WAMU to JPM. Top that off with an affidavit signed by Loquinda Allotey only 6 years after formation of the pool.

  9. This is seems really clever and sneaky.
    Can any one explain this in greater detail. What is F/C and POA ?stand for ?
    Then when they are finished stealing the house they sell the loan from the unlawful foreclosing party(trust) that had no standing to F/C back to the trust through a POA to the servicer and effectively cover their tracks that the loan was never in the trust, they still stole the investors money, and they still claimed the tax exemptions under REMIC

  10. frankielee

    well said i admire your attitude & will stand beside you!

  11. sooo …think some how NOW …
    a judge would rule for a homeowner over the us gov?
    hahahaahahaha.. now this seem plausible NOT!
    the apple has been rotting from the core out, the rule of law is rapidly becoming a historic “fairy tale”.
    so how will we caste our votes – with a sidearm?
    R we fuct or what ?
    fear breeds hate breeds violence, all are low IQ & low frequency vibrational reaction ,
    understanding & unity is the key!

  12. The big question is: how deeply is the U.S. Gov’t involved in this giant scam? The bill about notaries (protecting the banks from their fraud) that was pocket vetoed by Pres. Obama is really scary. It was going through Congress with no objections and, We, the people, did not even know it was going through Congress. Is Eric Holder, AG, going to do something about this? We now have banks that act like the Mafia. Many more regulations need to be put in place to protect us from the financial institutions. I have no intention of ever buying a house again until this nightmare has been fixed. The mind boggles at the fact that even purchasing a car is going to subject you to more financial services fraud and harrassment. On top of that, how does this make the US appear to the rest of the world? By now, they must have realized that the US financial institutions have been the primary cause of the recession.

  13. I was thinking about BOA resuming foreclosures…I wonder if the ones they are resuming are just the homeowners who have made no indication that they are fighting it–simply ramming through the defaults–and playing a game of psychological warfare?

  14. If you want to read the whole story and how it played out over the years, a great source is the 246 PAGE COMPLAINT FILED BY THE FEDERAL HOME LOAN BANK OF CHICAGO against most if not all of the payers in securitization. The complaint lists the Depositors, Underwriters, Parent Companies, and every subsidiary involved in over 3.2 Billion of Securitized Loans .

    Bank v Bank

    The Federal Home Loan Bank of Chicago seeks rescission and damages for more than $3.3 billion in mortgage-backed securities it was sold by Bank of America, Citigroup, Goldman Sachs, GMAC Mortgage Croup, Credit Suisse and others, in Cook County Court.

    Here is the description of Defendant Bank of America!!

    29. The Banc of America Entities

    A. Depositor Defendant Bane of America Funding Corporation is a Delaware corporation. On information and belief, Banc of America Funding Corporation was formed and exists solely for the purpose of receiving and depositing loans into trusts for PLMBS securitization. Banc of America Funding Corporation was the depositor for Certificates

    BAFC 2006-C 2AI
    BAFC 2006-E 2A2
    BAFC 2006-E 3AI
    BAFC 2006-F 2Al
    BAFC 2006-F 3Al

    B. Underwriter Defendant Banc of America Securities LLC is a Delaware limited liability company. Banc of America Securities LLC underwrote the following Certificates:

    ARSI 2005-W5 A2C,
    BAFC 2006-C 2AI,
    BAFC 2006-E 2A2,
    BAFC 2006-E 3Al,
    BAFC 2006-F 2AI,
    BAFC 2006-F 3AI,
    FHASI 2006-ARI 2AI,
    OOMLT 2005-5 A3,
    OOMLT 2006-22A3,
    RASC 2005-KS12 A2,
    SEMT 2006-1 2Al,
    SEMT 2006-1 3AI,

    and sold Certificates directly to the Bank.

    BAFC 2006-C 2AI
    BAFC 2006-E 2A2
    BAFC 2006-E 3AI
    BAFC 2006-F 2AI
    BAFC 2006-F 3AI
    OOMLT 2005-5 A3
    OOMLT 2006-2 2A3
    RASC 2005-KSI2 A2
    SEMT 2006-1 2AI
    SEMT 2006-1 3AI

    C. Controlling Person Defendant Bank of America Corporation is a Delaware corporation. Bank of America Corporation is the parent company, with 100% direct or indirect ownership, and a controlling entity of Banc of America Funding Corporation. Bank of America Corporation is also the parent company, with at least 75% indirect ownership, of Banc of America Securities LLC. Bank of America Corporation is also the parent company, with at least 100% indirect ownership, of sponsor and originator Bank of America, National
    Association sponsor of Certificates

    BAFC 2006-C 2AI
    BAFC 2006-E 2A2
    BAFC 2006·E 3Al
    BAFC 2006-F 2Al
    BAFC 2006-F 3Al

    originator of loans for the offerings in which the Bank purchased Certificates

    BAFC 2006-C 2Al
    BAFC 2006-E 2A2
    BAFC 2006-E 3Al

  15. Bank of America-oops!

    So without the reduction in loss reserves they didn’t make 27 cents per share, they lost 28 cents!

    http://foreclosureblues.wordpress.com/2010/10/19/the-market-ticker-bank-of-america-when-balls-deep-isnt-enough/

  16. I feel like Neo from the movie “Matrix”.

    “Banking and fraud were born into our global word as Siamese brothers, inseparable since birth. And just like Siamese brothers, if ever separated, they would likely die together as well.”

    http://www.zerohedge.com/article/inside-illusory-empire-banking-commodity-game

  17. Zero Hedge has been approached by an individual who participated directly in the various aspects of what is now broadly known as Fraudclosure. The below narrative recounts his experience in the due diligence process of selecting loans for the MBS pipeline. And far more than just legalese “technicalities” or a broad abrogation of property rights, as he points out there is a far more palpable issue for all those who hold Mortgage Backed Securities or other pool aggregations of mortgage loans: “we have no idea what is in those packages.” This coming from the person who helped pick, diligence and sort through the various loans…

    Full exposition:

    http://www.zerohedge.com/article/whistleblower-speaks-fraudclosure

  18. Bill Black could sort this mess out in no time, however, TPTB are having way too much fun equity stripping the planet, while congress looks the other way.

    I will seriously take my pitchfork and stand outside the white house fence soon if there are no concrete movements away from the secrecy and denial and towards investigations and prosecutions.

    I’m not falling for that hope crap anymore, but I’ll be a part of real change if it’s the last thing I do.

  19. Matt is on fire! Way to go.

    What a scam this all is. The question is, “who with the necessary power can get in and figure it all out?”

    The deems need to cry very loud for a real independent prosecutor!!

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