COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE

Are Countrywide mortgage-backed securities really mortgage-backed?

EDITOR’S NOTE: BOA IS IN SERIOUS TROUBLE. I PREDICT THE BANK WILL CRASH AND SOON. As this article points out, the mortgage backed securities are not backed by mortgages. The transfers were not made. Whether the loan originated with  Quicken, Freedom, Aurora, BNC or anyone else, if it ended up with Countrywide the mortgage is not enforceable or even real. It is an unsecured debt subject to offset for liability for appraisal fraud, TILA violations, rescission remedies, fraud in the inducement etc. The only thing missing here is that it is not just a matter that the loans were never transferred by  Countrywide, it is about the fact that Countrywide never owned them and therefore COULDN’T TRANSFER THE LOANS.


  1. It means that the the only party to name in the quiet title lawsuit is the mortgagee of record — the mortgage originator.
  2. It means that the mortgage originator either didn’t ever have the right to call itself a creditor or doesn’t have that right now.
  3. It means that the mortgage is void and should be removed from the title registry, which is what quiet title is all about.
  4. And it means that with neither BOA, nor Countrywide being the creditor, they have no right to enforce the debt without NAMING the creditor on whose behalf they are initiating collection. If they disclose that, then it will be obvious that the real creditor wants no part of the actions to collect dubious debts procured by predatory and fraudulent lending practices.
  5. It means that the real creditor does not want to try to collect from the homeowner.
  6. It means that homeowners who have been foreclosed should be able to get their homes back free and clear even if there was a transfer or sale to a third party.
  7. It means that that any foreclosure involving BOA or countrywide is probably subject to being dismissed with prejudice forever.


If the President or Treasury actually wanted to fix the housing market, the ability to do so is lying in all those court records, which show the systematic failure of securitization and the massive exposure the banks hold as a result. This would really help the economy – foreclosure problems are seen to add 1.25 points to the unemployment rate, according to one survey. But instead, they’ve
allowed the banks to pick and choose at their discretion who gets a modification. They’ve allowed the banks to use HAMP as a predatory lending scheme, to squeeze a few extra payments out of borrowers they planned to evict anyway. They’ve even allowed banks to continue toscrew even their customers who they gave a modification.

Fortune has examined dozens of court records that corroborate the
employee’s testimony. And if Countrywide’s mortgage securitizations
systematically failed as it appears they did, Bank of America’s
potential liability dwarfs its shareholder equity, as the
Congressional Oversight Panel points out.

Field is referencing Countrywide v. Kemp, and the sworn testimony of
Linda DeMartini, a top official at BofA. She acknowledged on the
record in a deposition that Countrywide never conveyed the mortgages
to the trusts, and that Countrywide notes “weren’t endorsed except on
a case-by-case basis generally long after securitization ostensibly
occurred.” This would mean that the mortgage-backed securities
composed of Countrywide loans are, in fact, non-mortgage-backed
securities. And Field did the grunt work of looking at the court
records, which back up DeMartini’s claim. None of the 104 Countrywide
notes she looked at in two New York counties were endorsed originally.
Read the whole story, it’s a good one.  [cont’d.]

Smoking Gun on BofA Securitization Fraud
‎Yesterday, ‎June ‎03, ‎2011, ‏‎6:09:34 PM | David Dayen

(photo: woodleywonderworks)

HUD Secretary Shaun Donovan told the LA Times today that a settlement
between top banks and state and federal regulators on foreclosure
fraud would be inked in “a matter of weeks.” HUD has been pretty close
to the settlement talks, so I don’t totally doubt him, though I’m
wondering exactly how many Attorneys General they expect to sign on to
a deal, with Republican AGs distancing themselves and Democratic AGs
undertaking their own investigations. Interestingly, Tom Miller’s
chief spokesman contradicted Donovan quickly after the LAT published,
saying “While we certainly hope we can reach a settlement in a matter
of weeks, we don’t know how long it will take.”

Donovan said flatly that the banks’ offer of $5 billion in penalties
for robo-signing and other fraudulent practices was “unacceptable,”
but made no attempt to give a more acceptable figure (regulators
reportedly made a $25-$30 billion offer initially, and told banks last
week they would be on the hook for $17 billion in civil lawsuits if
they didn’t settle). And how could he offer a figure? There hasn’t
been enough investigation to determine the extent of the abuses. Heck,
Abigail Field did more investigation by herself into Bank of America’s
faulty mortgage docs than probably anyone in the foreclosure fraud
working group negotiating with the banks.

Are Countrywide mortgage-backed securities really mortgage-backed? Do
banks even have the legal right to foreclose on certain homes?

These are just a few of the questions raised since the foreclosure
crisis revealed shoddy mortgage servicing practices at many of the big
banks – practices that have led to countless investigations and
lawsuits. Court testimony by a former Countrywide employee added to
the intrigue last fall, because she confessed that many loans there
weren’t properly handled, bringing into doubt the validity of
Countrywide’s securitization process. Bank of America, which owns
Countrywide, quickly silenced the discussion with firm denials.

But Fortune has examined dozens of court records that corroborate the
employee’s testimony. And if Countrywide’s mortgage securitizations
systematically failed as it appears they did, Bank of America’s
potential liability dwarfs its shareholder equity, as the
Congressional Oversight Panel points out.

Field is referencing Countrywide v. Kemp, and the sworn testimony of
Linda DeMartini, a top official at BofA. She acknowledged on the
record in a deposition that Countrywide never conveyed the mortgages
to the trusts, and that Countrywide notes “weren’t endorsed except on
a case-by-case basis generally long after securitization ostensibly
occurred.” This would mean that the mortgage-backed securities
composed of Countrywide loans are, in fact, non-mortgage-backed
securities. And Field did the grunt work of looking at the court
records, which back up DeMartini’s claim. None of the 104 Countrywide
notes she looked at in two New York counties were endorsed originally.
Read the whole story, it’s a good one.  [cont’d.]

This is a bombshell. If the regulators were in any way competent,
DeMartini’s testimony would have stopped them cold. They would have
engaged in the same analysis as Field, and presented to BofA the stark
truth that they have no ability to foreclose on Countrywide loans that
were securitized, which would lead to all kinds of charges from both
homeowners facing foreclosure, and from investors who were scammed
when they purchased the securities. They would have signaled to the
other banks, who did little different during the bubble, that they had
the goods on them as well. The underlying exposure is massive. That
would be the kind of ammunition needed to force compliance from BofA.
But none of this has been done.

The Obama Administration knows that housing is among the biggest, if
not the biggest, problems with the economy right now. The President
said it in a meeting with House Democrats yesterday. I liked this side
note: “The President said housing was the main thing dragging down the
economy, with Geithner nodding solemnly like they’d done everything
humanly possible for the last 27 months to fix the housing market.”

If the President or Treasury actually wanted to fix the housing
market, the ability to do so is lying in all those court records,
which show the systematic failure of securitization and the massive
exposure the banks hold as a result. This would really help the
economy – foreclosure problems are seen to add 1.25 points to the
unemployment rate, according to one survey. But instead, they’ve
allowed the banks to pick and choose at their discretion who gets a
modification. They’ve allowed the banks to use HAMP as a predatory
lending scheme, to squeeze a few extra payments out of borrowers they
planned to evict anyway. They’ve even allowed banks to continue to
screw even their customers who they gave a modification.

And this “settlement,” whatever it offers, won’t change that fact.

Jake Naumer

66 Responses

  1. I wished-for more content articles might possibly be as enlightening as this one.

    Do me a favour, do not ever change your article writing syle,
    I adore it! Thanks

  2. I am curious to find out what blog platform you have been using?

    I’m having some minor security problems with my latest site and I’d like to find something more secure.
    Do you have any suggestions?


    Years back the banks began to turn a mortgage into a commodity, with good paying mortgages, then they saw they were running out of this commodity, so the big banks, including Fannie & Freddie started approving loans to almost anyone and everyone, not so much to just give that person a home to have, but they were more concerned about creating more of the commodity. More securities to sell to investors. They even knew some home owners would not last several years or several months, as long as they could say to investors, “Hey, we have more mortgage backed securities to sell”.

    Now, to sell all these securities, they would have to create a mortgage assignment which is normally recorded with the county land recorders office for a fee. Physically, that would take up too much time and money, so the big banks invented and created MERS,(Mortgage Electronic Registration System). This electronic service was only created to track mortgages sold and bought in the secondary securities market. MERS legally has no invested interest in the mortgage, so they truly are not able to transfer or assign the mortgage acting as a nominee of the loan. But they are! Wrong. The chain of title of the mortgage is broken right here at this very early stage. The mortgage/note has to be assigned from one owning entity to the next owning entity. MERS never owns the loan, but they are creating and are listed on assignments at the local land recorders office. Now that the mortgage was bundled, sold and bought back and forth with investors, no continuing assignments are recorded with the county recorders office. By not recording these documents, Fannie & Freddie & and all your Big Mortgage Servicing banks are saving millions-billions on recording fees, and possible taxes, etc.

    What I have found was that the Servicer of the mortgage is listed with the county recorders office as if they own the mortgage, while Fannie & Freddie or other Big Banks are selling the bundled mortgages as securities. Kind of like a Pizza shop cooking pizza legitimately up front, and a mobster selling off investments in the back. (Racketeering). The Servicer up front really is not the owner of the loan, and they tell you this. They also admit that your loan is owned by Freddy or Fannie, or the Investors. So when the Servicer now tries to foreclose on a homeowner, they are not truly the owner of the loan, and you have to own the loan to foreclose!!! Many never even question the Servicer and walk away from their home. Now to foreclose as quick as they can, that’s where the robosigners come in. These people do not review anything in the foreclosure paperwork about the loan, but only sign a name on the affidavit page on thousands of mortgages to get the foreclosure going before any homeowners begin to catch on.

    You see, its a matter of a quick process the Servicing banks want to achieve in order to get the property in their possession, only to sell it. The crazy thing is, when the originating bank gives the loan, then sells it to the 2nd bank which mostly ends up being the servicer, they again sell it to the 2 major players (Freddie & Fannie) and they sell the mortgage back securities to investors. So the servicing bank gets paid for the mortgage and still collects payments toward the mortgage and a percentage goes to the Servicer, Fannie & Freddie and the Investor. So they are all making money. Then the Servicing bank comes to foreclose and if they are allowed to foreclose they get the home without true ownership, even though the loan is actually sold off into bits and pieces to investors. I can go on further, but to conclude, if this were a murder case, I would call this act of the banks premeditated, not an accident. This was all planned out in order to reach the highest profit they could using the mortgage backed securities as a commodity, and have total disregard, deliberately, intentionally ruining the lives of millions of homeowners.

  4. Appears Lehman created SASCO in FFIEC for BOA, WFC and JPM.

    Over SEC on Lehman 2008

    Bulk Sales and Interim Servicing Agreement 9/26/2007
    (American Home Mortgage Loans)
    Lehman Brothers Bank, FSB pursuant to following specified mortgage loan purchase and warranties agreements (each a Bank Transfer Agreement, collectively ‘Transfer Agreements” has purchased or received from certain transferors identified below certain mortgage loans (identified on Mortgage Loan Schedule) Schedule A – Transferred Mortgage Loans
    1. Bulk Sale and Interim Servicing Agreement by and between the Bank and Broadhollow Funding LLC 9/26/2007
    (American Home Mortgage Loans)
    Seller Warranties and Servicing Agreement between Lehman Brothers Bank FSB and Indymac Bank FSB dated as of 7/1/2003 and amended as of 12/29/2004 and 6/28/2006.
    Loan Purchase Agreement by and between the Bank and Residential Mortgage Corp dated as of 1/9/2003.
    Flow Mortgage Loan Purchase and Warranties Agreement by and among the Bank, Flagstar Bank FSB and Flagstar Capital Markets Corp 1/1/2007.
    Amended and Restated Flow Mortgage Loan Purchase and Warranties Agreement by and between the Bank and Lydian Private Bank dated as of 6/20/2007.
    WHEREAS, pursuant to an assignment and assumption agreement (the “Assignment and Assumption Agreement”) dated as of August 1, 2008, between the Lehman Brothers Bank FSB, as assignor, and the Seller, as assignee, the Bank has assigned all of its right, title and interest in and to the Transfer Agreements and related Mortgage Loans as listed on Schedule A, in the case of the Transferred Mortgage Loans, or Schedule B, in the case of the Bank Originated Mortgage Loans, and the Seller has accepted the rights and benefits of, and assumed the obligations of the Bank under, the Transfer Agreements;
    WHEREAS, the Seller is a party to the following servicing agreements (the “Servicing Agreements”) pursuant to which the Mortgage Loans are serviced by the servicers (the “Servicers”):
    1. Servicing Agreement dated as of August 1, 2008, by and among Holdings, as seller, and Aurora Loan Services LLC, in its capacities as Servicer and as Master Servicer, and as acknowledged by the Trustee.
    2. Reconstituted Servicing Agreement dated as of August 1, 2008, by and among Holdings, as seller, Countrywide Home Loans Servicing LP, in its capacity as Servicer, and Countrywide Home Loans, Inc., and as acknowledged by Master Servicer and the Trustee.
    3. Reconstituted Servicing Agreement dated as of August 1, 2008, by and among Holdings, as seller, and IndyMac Federal Bank, FSB (as successor to IndyMac Bank F.S.B.), in its capacity as Servicer, and as acknowledged by the Master Servicer and the Trustee.
    WHEREAS, the Seller desires to sell, without recourse, all of its rights, title and interest in and to the Mortgage Loans to the Depositor, to assign all of its rights and interest under each Transfer Agreement and each Servicing Agreement relating to the Mortgage Loans referred to above, other than any servicing rights retained by the Seller hereunder, and to delegate all of its obligations thereunder, to the Depositor; and
    WHEREAS, the Seller and the Depositor acknowledge and agree that the Depositor will convey the Mortgage Loans to a Trust Fund created pursuant to the Trust Agreement, assign all of its rights and delegate all of its obligations hereunder to the Trustee for the benefit of the Certificateholders, and that each reference herein to the Depositor is intended, unless otherwise specified, to mean the Depositor or the Trustee, as assignee, whichever is the owner of the Mortgage Loans from time to time.
    NOW, THEREFORE, in consideration of the mutual agreements herein set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Seller and the Depositor agree as follows:

  5. Pat,

    thanks for the bumper sticker idea. Good one. I may look into getting some made up that way.


    Thank you for your comments on this site. You are very wise and I always love to read your posts.

    BOA NA transferred loans to BAC Home Loans who stated they are a debt collector and you can dispute. BOA NA is now transferring loans back to themselves but does not state BOA NA is debt collector and does not state you can dispute. Do you think BOA NA is a debt collector. I am jjust wondering if this is why the transfer back because they will not have to answer to FDPA and others.


  7. ANONYMOUS — Do you know of any way to find out who the Residual Interest/Certificateholders would be in any given deal?

  8. Pam,

    How about bumper stickers

    Does anyone really owns your mortgage loan?

  9. Mers Cease and Desist Order on All Foreclosures:

    Sign Our Petition to Stop all MERS Foreclosure NOW!

    The Office of the Comptroller of the Currency recently signed a Cease and Desist settlement agreement with MERS Corp (Mortgage Electronic Registration Systems). Among other things, the Cease and Desist order finds,

    “We have identified certain deficiencies and unsafe or unsound practices by MERS and MERSCORP that present financial, operational, compliance, legal and reputational risks to MERSCORP and MERS, and to the participating Members.” (OCC No. AA-EC-11-20; Board of Governors; Docket Nos. 11-051-B-SC-1,11-051-B-SC-2; FDIC-11-194bOTS No. 11-040; FHFA No. EAP-11-01)

    Noted attorney Philip Kramer, a senior partner at the law firm of Kramer & Kaslow provides insight, “MERS Corp is the owner of Mortgage Electronic Registration Systems (MERS), one of the cornerstones of the current banking crisis.

    In order to cut up loans and move the pieces around the world at the speed of electronics again and again and again, until no one is sure who owns what, financial institutions have been using MERS as the “beneficiary”, a legal term which in practical terms means they are entitled to foreclose on behalf of the lender – except MERS is nothing more than an electronic database. They are often named as beneficiary.

    However in order to legally be named as beneficiary they would have had to put up funds on the loan. Not to mention the fact that the recordation itself is not even official. BUT most importantly, MERS is never a Holder in Due Course.”
    Philip Kramer goes on to observe that, “We’re a nation of laws.

    Everyone knew that MERS didn’t have the right to appear as a beneficiary, but it would have been inconvenient to act on this because MERS was in widespread use throughout the banking industry. It was wrong, wrong, wrong, but everyone was doing it.

    All Foreclosures Associated with MERS must Cease and Desist… NOW!

    Sign Our Petition to Stop all MERS Foreclosure NOW!

  10. Excellent post, Neil!! Thanks to you and Jake for keeping us informed. What if we each kept writing letters to the editor of our local papers? kept writing or calling our congressmen? Or drove around in cars with magnetic signs saying “does your bank really own your home?” If we all get together and do something, we can make a difference. Suggestions? Who wants to participate? I’m in….

  11. Neil –

    I wonder if Suntrust, and others of like ilk, have also shot themselves in the — doing this and time will expose all their chicanery. Nice Article !!

  12. Attention! All this chatter ‘noise’ over sub-prime mortgages keep on course regarding Alt-A Issuing Entity c/o Pass Through Corporate Securities Treasury.

    Reviewing, most recent Prospectus Transaction filed through
    Structured Asset Securities Corp (,785 SEC Filings 10/13/95 through 9/2/08) where TRUSTEE of TRUST is Wells Fargo (as a filing agent has 25,837) and responsible for Distributions as (TRUSTEE) of the Trust Fund.

    Very Important Discolsure
    Taken from Lehman Mortgage Trust 2008-6 ‘424B5’

    August 2008!
    o A number of state regulatory authorities have recently taken action against certain loan originators and servicers for alleged violations of state laws. Certain of those actions prohibit those servicers from pursuing foreclosure actions, and in the future one or more additional states could seek similar limitations on the ability of mortgage loan servicers to take actions (such as pursuing foreclosures) that may be essential to service and preserve the value of the mortgage loans on behalf of the trust fund. Any such limitations that applied to a servicer of the mortgage loans could adversely affect the trust fund’s ability to realize on the related mortgage loans

    Regarding difference between Alt-A and sub-prime relates to ‘securities’ world and ‘mortgage loans’

    o Mortgage loan held by trust fund do not include subprime mortgage loans; however many originators underwrite subprime mortgage loans and consequently have exposure to subprime mortgage market.

    o Loans are considered to be Alt-A mortgage loans; default rates increased above rates experienced on sub-prime loans.

    o Prepayment Alt-A decreased below historical levels exacerbate adverse effect of increased default rates on pools of Alt-A loans such as mortgage loans held by trust fund.

    o The mortgage loans held by the trust fund do not include subprime mortgage loans; however, many originators that underwrite “jumbo” or Alt-A mortgage loans also underwrite subprime mortgage loans and consequently have exposure to the subprime mortgage market.


  13. Marie I have nothing against you. And please express yourself. Sorry if I affended you in anyway.

    Be Strong and Courageous.

  14. Monday 6 June 2011

    From Mary Cochrane:

    >Request copy of the LENDER’s new Appraisal for
    >the Sheirff Sale and that appraisal will reveal
    >‘LENDER’ like Premier Asset Services (PAS)
    >subsidiary of Wells Fargo Home Mortgage a
    >Division of Wells Fargo Bank NA who has nothing
    >to do with loan trust and is an Agent with Agency
    >between ‘thing’ and bank.

    Ahhhh, an very nice piece of information to go after
    and add to the quiver.

    Thank you…

  15. A man

    Sorry if expressing my opinion offends you; in any event I notice you don’t use your true ID.

    And by the way, I said nothing about anyone fearing “us.”. Malice doesn’t imply fear on my book.

  16. edgetraderplus

    I have written much about subprime refinances – which were not mortgages at — but rather reaffirmation of false collection rights. The “investors” in collection rights were the debt buyers (banks and others) themselves. Insurance fraud – over and over.

    Investors not the same as security investors.

  17. How can they ignore the facts that in agreements which exist pror to 22/3/98 Norwest Corp’s – Norwest Home Mortgage in Minneapolis dba Norwest Funding II dba Wells Fargo & Co/MN (wholly-owned subsidiary) appears directly related to NATIONSBANK and 1996 ‘NASCOR’ Agreements with Norwest Corp, Chase Manhattan Mortgage Corp, and GMAC-RFC dba GMAC Mortgage Corp of IA, GMAC Mortgage Corp of PA, Norwest Home Mortgage, ….

  18. Please follow the transactions. The REO BROKER is assigned when a consumer is 60 days late, and consumers think they are 30 days late when 2nd payment due but that is not the case they are 60 days late. The REO BROKER is in agreement to manage the property for the LENDER. Request copies of reports of the ‘Title Agency’ who reviewed the current liens for the Lender. Request copy of the LENDER’s new Appraisal for the Sheirff Sale and that appraisal will reveal ‘LENDER’ like Premier Asset Services (PAS) subsidiary of Wells Fargo Home Mortgage a Division of Wells Fargo Bank NA who has nothing to do with loan trust and is an Agent with Agency between ‘thing’ and bank.

  19. Does appear all of the bad servicing debt of the many institutions moved out and over to BOA and Attorney Generals make a deal potential for agreement real ‘escheat’ and allow state to take over if mediation unsuccessful as Servicer, for the unknown owner (new) CREDITOR may enforce electronic mortgage LOOPHOLE see definitions Lender (national association) and Note Holder of ‘Note’ any ‘Rides’ any ‘Endorsements’ and …for collecting payments on DEED (irrespective of Borrowers)?

  20. BSE,

    One does not typically need to post a bond in order to Appeal. That is done in order to get relief from the trial court judgment during the pendency of the Appeal once it is taken.

  21. MERS is getting squeezed on all sides…

    I am working with a producer in Hollywood on a under ground documentary called

    “Smoke and MERS”

    its about Foreclosures, MERS, Fraud, robo, etc?

    The Producers are looking for homeowners who want to tell their story …

    Here’s your chance

    If interested email me

  22. We only have 31 signatures in California

    What’s Up?

    We need people to put it on local newspaper blogs facebook etc…

    This is the only way to win now.

  23. @ TMT

    Did you see that so far there are only 2 supporters of the ASF meeting and they are:

    2-Star: BNY Mellon

    1-Star: Fitch Ratings

    With BNY Mellon the most notable trustee for the worthless and/or empty CountryWide CWABS, CWALT, CWMBS trusts, is it no wonder that they are supporting this gig?

  24. There are several discussion about the securitization of Countrywide this weekend.

    Adam Levitin of CreditSlip
    Yves Smith of Naked Capitalism

    ASF is having 2011 annual meeting at DC this month.

  25. “Spokespeople for lenders have emphasized that mortgage defaulters are “significant risks” ”

    Fook You A$$hole.

  26. It’s all BS:

    “This news comes out of a report by James Chessen, the American Bankers Association’s chief economist. He says that if a borrower is current on all loans except their mortgage, they are actually an attractive candidate for a new loan. However, says Chessen, good luck getting banks to acknowledge this new policy. ”

  27. Even Time Magazine is getting it.


  28. Marie give me a break. Nobody is afraid of us.

    they have the movie “to big to fail” inside job, Matt Taibi of the Rolling Stones. the Articles in the Huffington Post and the thousands of bloggers comments. even the Wall Street Journal, Bloomberg, etc……..

    This blog has people on it that are afraid of their own Shadows.


  29. Always remember Your Survival Is First. You have that as First Obligation, next your family, next your group, next mankind, next living things, next your material stuff, next your sanity, next all.

    Don’t let anybody stop you from that.

  30. It’s all BS. Get your Poker Face IN:

    poker face
    Informal a face without expression, as that of a poker player attempting to conceal the value of his cards

  31. “It means that the real creditor does not want to try to collect from the homeowner.”

    Jeepers, you can sub that with credit card debt or any debt securitized – ABS or MBS or RMBS or BS.


  32. Let’s be candid. people have reason to fear retaliation. People on this site, myself included, generally use noms de plumes. Signing petitions or making incautious remarks may be duly noted by the predators who must be trolling

  33. And last but not least.
    We are Americans and we were not raised to be wimps.


  34. This is a war of Attrition

    Anonymous I know I am trying to rally the troops.

    The only thing we have to fear is fear itself.

    Who’s afraid of the big bad wolf?

    The bigger they are the harder they fall

    and last but not least

    Humpty dumpty had a great fall and all the kings men couldnt put humpty dumpty etc…….

    Those who dont sign must understand that there is nothing to fear. They have pretty much taken everything away.

    Even if you are making payments on your home or investment you dont have equity and you wont have equity for another 10 years.


  35. Sunday 5 June 2011


    Would have to disagree with you, there. The truth
    needed to win any case is out “there” already. You seem to “validate” “new slants” of information once
    presented, but little in a priori posts Then again, I
    have not read all of your writings so I could be wrong,
    and not for the first time.

    If ALL the truth is STILL not out there, feel free to state
    the missing. If anyone can not beat any opponent
    with the existing slew of information and now
    established case law available, it ain’t going to
    improve their lot with any other “new” endless
    details of the known fraud that exists.

    The KISS principle has understated merit.


  36. I was reading all the May mortgages in my county (pa) today, and was aghast that there are still mortgages being recorded in the county with the lender as: MERS, or MERSCORP. Now one thing we all know, is that neither entity loans any money, receives any payments, so what the hell? Anyone notice this in their counties? Please post. These must all be foreclosures? Or what?

  37. The whole truth, and nothing but the truth, is STILL not out there.

  38. The A Man,

    The people are afraid because they may be in litigation. They believe they can handle on their own — but, this is a big risk.

    Must join together.

  39. […] Randy Frodsham 951-286-4400 It is long overdue for homeowners to FIGHT BACK against the banks. In […]

  40. Free House. Who gets a free house? The guy down the street with a robo signed piece of paper he forged one day to lie to the judge that he has a right because the homeowner owes someone and it might as well be him? Or a homeowner who did any or all of the following: Down payment, points, fees, title and escrow fees, months – years- decades of taxes, insurance, interest, principal, principal pay downs, home maintenance. Even those who refinanced many times over many years were not speculating – they stayed put and paid for their home many times over. Interest payments and all the rest kept a whole lot of parties to the parties in business. Now homeowners have lost all their equity (50% ltv now underwater) and more and more will be forced to pay deficiencies if they ever wish to move and in addition pay taxes on their “windfall” short sale. Homeowners also supported their local economy and Mom and Pop businesses until all shut up shop and moved away. Who has more skin in the game? It’s not a free house unless it is a roborobber who gets it.

  41. Great posts, edgetrader! You’re right–never give up. Resistance is victory.

  42. Please help us get the word out about the petition drive

  43. The Greeks know how to do it.

    Thieves – hustlers – bankers


  44. We only have 29 signatures in California

    What’s Up? I put it on Huffpost again today.

    We need people to put it on local newspaper blogs facebook etc… This is the only way to win now.

  45. Edgetraderplus

    Thank you..Did you have to post bond to appeal ?
    My problem to keep up the fight is that the home has not worth the fight. My neighborhood has been ravaged…There are now 5 original owers left from the yr 2004 / 2005..Eveything is a forclosure or short sale. Values are down 65% from 2003.
    The attorney fees will be more than the house payment. I am forced to the streets by the government fraud. They only H.O.P.E is that I have Hope. Bite me Obama and you other fraudsters on Capital Hill !

  46. Edgetraderplus: sounds like a tv movie in your future. Riveting

    You have my admiration

  47. Sunday 5 June 2011


    That was the intent of my post, to never give up.

    Let me add, regarding judges who always rule unfavorably.
    In my case, there were three different judges, each
    ruling for the plaintiff and against me, 99% of the time.
    There were three appellate judges that ruled against
    me, and three more state supreme court judges that
    ruled against me. In appeals, I had to fight against a
    “tall building” lawfirm with national presence.

    At no time, throughout these past
    four years, did I ever feel I was dealing from weakness. I went after them, at all times.
    While I apparently did not succeed 99% of
    the time, it is that 1% I never gave up on that
    is carryng the day, as it were. That “other”
    99% was plaintiff and judicial huffing and puffing.
    Generally, it works.

    The FC-mill attorneys’ motion to withdraw from the
    case is scheduled for tomorrow, Monday. I have already
    filed my response, adamently opposing their withdrawal,
    pointing out the “discrepencies” in “their” case, and
    not the “plaintiff’s” case.


    There are no “tricks” in getting judges to listen. They
    know more precedural “tricks” than most defendants.
    There is only law that they must recognize and be
    to comply, at least in my experience. And, they will
    resist that tooth and nail.


  48. 105 and counting. My foreclosure case (NJ) was dismissed without prejudice because the banks couldn’t FIND the ORIGINAL note. They did however supply me copies (4 times of which three were identical and one was smaller and had unique numbers on it – maybe it was imaged) and ALL the copies had no signatures or endorsements. The foreclosing plaintiff was BONY Mellon as trustee for some trust. To re-institute the case the plaintiffs must not only allow me to inspect the original note but bring in some proof that the TRUSTEE actually signed off on getting the loan file. So count me as 105 – any more please come forward? There should be a national data base of cases in regards to this. Its been 29 months since my last payment. I purchased in Dec 2007 for $550K by Sept of 2008 (10 months) it was valued at $334K and now its comparable to a $175K sold units locally. I would guess i have 2 more years or more before this comes to a close. As a side note – when I pressed the opposing attorney of proof the loan and note were in the TRUST they told me they would go back to the SEC and try to find more info. The question is why are they going to the SEC, shouldn’t they be asked their alleged client BONY? Or as Neil has written maybe BONY didn’t even know of this case.

  49. Edgetraderplus

    Your post was inspiring to this homeowner struggling post foreclosure.

    ” Never never never never give up.”

    So hard to persevere when you have nowhere to turn for answers…

  50. Sunday 5 June 2011


    It is disheartening to read your post. I have been
    fighting my own FC for over four years, including an
    appeal and one to the Illinois supreme court…all “lost.”

    My property was auctioned off in February 2010. The
    “foreclosure mill” had a motion to confirm sale, which
    I opposed with truthful facts. What did they do? They withdrew their motion, and almost a year later,
    filed a motion to withdraw as attorney citing “communication
    problems with their client.”

    Of course! Their “client” has been in bankruptcy for
    the last two years, yet was able to submit and win a
    “credit bid” at the auction, unbeknowst to the BK Trustee
    and the law firm in another state actually representing
    their “client” in BK.

    Do not give up. I never did, and it ain’t over, yet. Somewhere
    there must be a grain of factual truth that can bring
    the plantinff to their knees. Sometimes, it is simplicity
    that carries the day, instead of an overload of “facts” the court is not willing to “see/hear.”

    There HAS to be something “very basic” that can cause
    the undoing of the plaintiff

    I hope you are successful in finding that Achilles Heel.

    Kind regards…

  51. Enough already. Your are correct. I believe Neil and all these people realize it is all the banks. They are just discussing the articles and information that is coming out of each bank. They are all guilty of intentional crimes against Americans. And every American I know has been effected by this crime. People who do not own homes are victims. They may never own a home if we do not get this straight and fight for our rights and get back the America we thought we had. We need to get petitions with laws the people pass. And not trust our law makers. Not out courts. They have betrayed us and allowed this unconscionable crime against citizens around the globe. It is not just America.This is controlled fraud and undermining democracy. We are in for the fight of our lives and the lives of our children to stop this. This is not displaced paperwork, it is not an act of God, it is not mistakes made, it is controlled fraud and intentional harm to us all. Do you know Deutsche
    bank and RECONTRUST are not even licensed by law and registered in the states they are foreclosing on homes. They defy the law, they not only defy helping us., they use their con minds to take advantage of all money (HAMP included ) TARP money to steal all the wealth and tax funds from us and dry up our economy. Every single bank is envolved. Or I should say the bigger banks at least. I do not know about the small local community banks. If they really are small community banks and not a front for the big banks. TRUST NO ONE. wE NEED A MASSIVE PETITION FOR LAW WE THE PEOPLE PUT TOGETHER. THE PEOPLE CAN PASS LAW BY PETITION.

  52. And this is how the class war will finally ramp up….

    After taking as much cash as was lying around loose as in TARP, TALF, HAMP etc., the rest has been forced out of the final fissures through QE’s 1, 2, and no doubt an attempt at 3, just like fracking the public.

    ZIRP has effectively stripped Mom and Pop’s and Main Street’s life blood as they’ve been forced to eat (literally and figuratively) into their principal instead of being able to support themselves through interest on their hard earned savings. So…. what’s a life’s worth of toil worth on main Street in exchange for a few months of work on Wall Street?

    The rise in commodity prices have seen to it that the uber wealthy have cleaned everyone’s clock at exactly the same hour on the dial.

    The rest of the housing will be plundered through illegal foreclosures, while the regulators pretend all is in order, save for a few “minor paperwork errors”.

    The Obama administration will continue to ignore the life altering acts of the looting the American public, all the while the FIRE reps like Bachus et al will continue look the other way.

    Does anyone believe for a minute that the government, to include all three branches and the regulatory agencies are unaware of the fact that trillions upon trillions of dollars worth of RMBS were sold and yet never delivered? And that the same exact criminals who pulled off the largest crime in history are still hard at it whooping ass on the American public with complete immunity and impunity?

    “Believe me Mr. M. Bags, I have an especially good looking pig in this poke. Would you care to purchase it?” “Well, don’t mind if I do! And if it’s as good as everyone is saying it is, I’ll take as many as you’ve got, that is, if Mr. Moody will warrant that the purchase is as good as you say it is, and that Mr. AIG will guarantee that if I get home and it’s nothing but a poke full of pig droppings, I’ll be reimbursed many times over for my troubles.”

    That is what’s going down as we speak. However, there’s a wrinkle in the fabric. That wrinkle being that American’s may be slow on the uptake, but they’re not stupid. Once the MSM can no longer hold a lid on the little Fukushima event we’ve got going in the financial world, the gloves will come off, the pitchforks and torches will start towards D.C. and Wall Street, and I wouldn’t want to be wearing an expensive suit while retreating from either of those two parcels of land about to be foreclosed upon. It won’t be pretty.

    Pillage away you fools. You have no idea how deep the shit is you’re getting into.

  53. BSE. For what it is worth, have you tried to put blocks at the recorders office. Cloud up the title. Washington is a state like yours. No justice in the courts. I have to go way back and look up the two judges here that show us some kind of hope. It was in the news about a month ago that a district judge in Seattle put his cases on hold until after investigations were done, before he would decide. Most judges here throw you under the bus. Lvinglies has letters I have sent my lenders and filed at the king county recorders with the county auditor. If you have MERS on your title cross reference with other counties and states by typing in MERS and see if you can come up with multiple titles for the same person, proving they are engaged in fraud on your deed of trust. Did your attorney have a forensic audit done? Did he or she file a debt dispute? Mine was never answered. I had an attorney send it certified mail November 11, 2009 never to be answered and it is filed at King County records. I am trying to put blocks up, until enough people get together protesting in non violent protect, which is what it takes to stop this crime. It takes massive public out cry to get justice done. The judges make to much money on the fees for foreclosure and some are bought. It is important to the judges and politicians to have power and stay in office. They know as long as the public is uninformed and does not complain, and does not vote or care who they vote in or simply does not know who is who when they vote that they have no worries to be re elected by enymanyminiemo, and good champaign adds. When there is a huge public outcry they know you are watching and aware of who is voting for bad law, and who is voting for the good of the people,and the american vote is bigger than the banks and you get somewhere. One thing I have been wondering is why dont people put petitions together to force law to protect us. When three strikes and you are out law was passed, it was not passed by politicians it was passed by petitions being handed out and signed in an unprecedented signature champaign, lead by Ide Ballisoties and Helen Harlow, regular people. Ida who lost her only daughter to a sex predator, and Helen’s son maimed for life, by the horrific acts of another sex predator, that left his little (I believe 6 year old body under a pile of leaves in a park, he survived but will never function normally.) Politicians mocked those woman and told them they would do nothing without a wave of public outcry. It was a grueling long time to accomplish the three strikes and you are out law, that started in Washington State.. We did it and we can do this! If we can get a pool of money from all of us to get a petition over the web (which was not a resource for Helen and Ide at the time) to pay attorneys like Neil Garfield or someone he recommends and have a massive petition for a law to protect homeowners, in each and every state. Is this something that can be done with this crime? I am sure the amount of public that is hurt by this would donate to this petition and cover cost. Public Petitions make law too. It is not just the politicians. Why is this being left to politicians that have not helped us?

  54. Neil did not list the “America’s Wholesale Lender” loans. Those are especially messy for CountryFried, unless yours has the “CountryWide d/b/a America’s Wholesale Lender” wording on it. Many instead have NO reference to CountryWide and strangely name the “LENDER” as “America’s Wholesale Lender” and then immediately describe LENDER to be a CORPORATION under NY law. It also provides an address for the LENDER that does not match with any registration of the named LENDER in CA. The corporation did not exist in NY until 12-16-2008. Look at the details of that later registration on the NY SOS site and you will see nothing to connect it with CountryFried or BendOver.

    CW and BendOver try to claim that even these loans that describe a corporation that did not exist at the time are their loans by claiming usage of the d/b/a that was NOT PRESENT on the documents (HELLO, REGISTRATION OF NAMED LENDER?) or they try to claim it is their ‘trade name’ which is the same as a DBA.

    Too few people are wising up and challenging this.

    For myself, I have the impossible 5 year late MERS-as-nominee assignment of BOTH the DEED and NOTE by LPS into the closed REMIC pool after litigation was in progress. Since the company they supposedly were acting as NOMINEE for is “America’s Wholesale Lender A Corporation” (says so right on the assignment), they are magically acting fro a company that does NOT exist, or else on behalf of the unrelated firm that has not given LPS and LITTON permission to sign for them.

  55. Even long before the Kemp case where DeMartini testified that CountryFried kept the loan documents, articles were published on the internet of outsiders being allowed to come into the location where the documents were located. I read of one where a particular note was requested and an employee had eventually swaggered down the hall with the exact document in hand.

    I would like help in finding the trust for a Countrywide loan. THE NOTE IS IN FREDDIE MAC. I purchased Neil’s securitization program and they could not find the trust. I have since asked Neil to search again and received an email from Katherine that she didn’t understand what I wanted if the Note is in Freddie Mac. Our house has been stolen and I will continue the fight but need some help.

  57. First and foremost, nothing works for the home owner unless the case is heard in court.

  58. It means that the the only party to name in the quiet title lawsuit is the mortgagee of record — the mortgage originator.

    How would the homeowner quiet title if they are already in foreclosure and MERS assigned (and recorded) the mortgage to BAC?

  59. “I wanted to follow up on an important article by Abigail Field, in which she did some serious spade work on the mortgage securitizations. Among other things, its shows prominent securitization attorney Larry Platt, who accused judges who interfered with the imperial rights of banks to foreclose of engaging in an “assault on the legal system,” to be a liar. Funny how that type is eager to try to say everyone else is engaged in bad conduct.

    There has been an argument running since last fall between mortgage securitization industry participants, led by the industry (really, sell side) lobbying group, the American Securitization Forum, and major securitization law firms like SNR Denton and K&L Gates, versus independent legal experts, like law professor and special counsel to the Congressional Oversight Panel Adam Levitin and foreclosure defense lawyers.

    The securitization industry has adopted the very odd legal position that all the complicated transfer procedures they crafted are irrelevant. They’ve also disputed that, as this blog and others have claimed, that the failure of mortgage bond originators and packagers to comply with these complex requirements became widespread if not pervasive, and the shortcomings are so serious that they impair the ability of servicers and trusts to foreclose when challenged. The magnitude of the train wreck in the courts suggests that there might be something to the skeptics’ case.”

  60. Getting closer to the truth with this one.

    None of the subprime refinances were secured mortgages/ notes. It is not only that mortgage notes were not transferred to back MBS – they could not be transferred because they were not mortgages/notes.

    Fifty state AG settlement should not go through without full and complete investigation. This is not happening.

  61. ok so countrywide and boa are the only ones in on this? all the banks whom used someone else money to give us these mortgages are in trouble becuse in neils last post none of the banks put the real lender/investor in the note/mortgage paperwork. so all the mortgages are null and void. please are facing forclosure here. i know we have true appraisal fraud, failure of underwriting, and fraud in the inducment with wells fargo. we all need to stay focused please on what ALL the banks did. it does no one good in the united states if country wide. BOA and MERS is a focus. we need to include all loans that were ” securitized” and come up with a solution for ALL of us. w eneed to some how through face book nad get together and fight this. no longer shouild any of us be subjected to courts and judges giving these banks whom did not loan their money. these homes we have put downpaymnets on. people soon to retire in the next 10 years have lost it all. kids graduating cant go to college because the promised money years ago is not there. please all we need to find a way to join forces and fight this. i and you can not do it individually. please. i am truly scared. but not including all banks wells fargo ect inthis post makes it seem like everything wells fargo did is ligit and they can take my house we need to foocus all banks and all issues please

  62. In summary: I took the information from this web site seriously. I studied long and hard for 3 years, I used the absolute best attorney that understood and used pure heart to present my case. I filed twice, dismissed twice. I am over $ 200,000 upside down on my home, $ 180,000 out of cash pocket, savings depleted, and now nothing to show after
    having my home for 7 years located North West Phoenix. These circumstances only conclude to terminate payment and depart. The criminals have gutted my neighborhood, fleeced my savings, stolen from my retirement and forced me and my animals into displacement. Do not expect any Judge to rule in your favor, Do not expect Wells Fargo or any other bank to provide a program to keep you in your house. “Their commercials are nothing but lies for the cover up”. The C.E.O and other officers within US Bank and Wells Fargo gloat with glee while they see another home owner pack their house and begin to pick up the pieces. They congradulate thiers attorneys while scoffing at the “deadbeat” homeowner who refuses to pay for the crime. Crime does pay if you work for the government, Wall Street, and the banks.

    Justice will never be served until these bastards burn in “hell” Until then you will have to live with my situation.

    Never Again…Thank you all for your support !

  63. Here is the case that set this off.

    “As to the location of the note, Ms. DeMartini testified that to her knowledge, the original note never left the possession of Countrywide, and that the original note appears to have been transferred to Countrywide’s foreclosure unit, as evidenced by internal FedEx tracking numbers. She also confirmed that the new allonge had not been attached or otherwise affIXed to the note. She testified further that it was customary for Countrywide to maintain possession of
    the original note and related loan documents.”

  64. This is incredible–a bank mouthpiece telling the truth, investigating the fraud AND validating everything Neil Garfield has ever said! The trick now is to keep BoA from glossing over this when it hits the mainstream media. This is DEVASTATING! Thank you, Linda DeMartini!

    The trick is also to get the judges in our cases to acknowledge this…

Leave a Reply

%d bloggers like this: