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“So The mortgage originator, the mortgage aggregator, the obligation, the lien are all dead, bankrupt and discharged nice and legal, but here is a homeowner who is being forced out of her home anyway, having per possession seized in record time and fighting for her life because these are the only two assets she has. It can only happen if the Judge lets it happen. Why would a fair and impartial judge get it so wrong?”

EDITOR’S COMMENT: I was about to write a story of a horrible injustice, beyond the normal. It is about a woman who has been raked over the coals by the banks over and over again. And then I ran across this story from Mandelman Matters and found that he already wrote the story, with many of the same characters. So I’ll shorten mine and let Mandelman do the rest.

The game that emerges from watching these cases is that the foreclosers and evictors (not necessarily the same entities) work with speed to make sure that the homeowner has no time to recover or meet the bid at the bogus auction of the property where nobody pays anything but the property is deeded anyway by a “trustee’ who is not a trustee and is simply there to facilitate stealing the property.

The idea of the Bank stealing the home when the payments have been made is finally getting some traction. In his case below, the family had paid the payments themselves and had never been late. But the the Bank took the home anyway and the State of California let them do it. Why? In the case I was going to write about, the creditors were also paid (investors were being paid on time by the servicer), so no default existed there either.

In BOTH CASES the creditor was not involved and had no interest in the foreclosure. The simple description is that the Bank wanted the house and they knew they could get it because even though they were lying they knew that anyone who heard both sides would believe the Bank because who wants to listen to a deadbeat borrower?

Everyone should be interested in these stories because these are homeowners who lost their homes to JPMorgan and US Bank, who now have theoretically legally title to a home that they did not buy, that they did not finance, and that they did not pay for or advance any money to the homeowner in any way. YOU COULD BE NEXT!

In the US Bank case, they were careful to try to beat out the Judge in two cases in state court and one case in Federal Bankruptcy court. They quickly, under the radar acquired the writ of restitution before it was allowed to be issued, served that Wednesday and then appeared on Saturday with a moving truck to get her things out of the house — but not before having locked her pet in the house and refused to do anything about it. The Gila County sheriff actually went out on a Saturday with the moving truck, pulling extra duty to get her out as fast as humanly possible. Why? And why were they laughing the whole time — I mean literally, not figuratively?

Ask the Sheriff Gila County to serve something or do something and it could takes weeks or months, with their backlog of work to get to it. How did it happen in 2 days? This Sheriff, and its agent Bradshaw Enterprises (the owner of which says he is being evicted but for reasons that are obvious has not been evicted (he now works for CalWestern and US Bank). I can only conclude from conversations with people in the Sheriffs office is that they were, at the very least, in “close contact” with US Bank or its attorneys or agents. They didn’t care if they trespassed on neighboring property because THEY were law enforcement. Who you gonna call? GHOST BUSTERS?

US Bank and CalWestern play the system like a violin committing crimes with straight faces and with attorneys who are perfectly willing to advance arguments and proffer evidence that they know are false.

In the case I intended to write about we have the substitution of trustee faked and forged, the verified complaint for eviction faked and forged and the auction on which US Bank relies for title is based upon a string of documents from a bankrupt company, First Magnus, who was discharged long before the “assignees” and substitutions were ever executed — all without listing the homeowner’s loan on their schedules (or any other loan, since they were just  a nominee sham operator pretending to be the lender). They used the signature of Pamela Campbell whose robo-signed signature appears on 2 dozen documents in Maricopa County alone and probably thousands of other documents.

But wait, there’s more. The homeowner listed US Bank and others in her own bankruptcy, showed them as unsecured and they filed nothing — not even a proof of claim.The obligation was discharged — as well it should. Why? Because the homeowner was the victim of securities scam in which First Magnus was the operator who convinced her to mortgage two fully paid homes for a very safe investment — buying gold. As she found out, buying gold is very safe because ti always has a value and always can be liquidated with very little fuss or muss. But if you don’t get the gold as thousands of Americans found out in the Merendon mining scam, then it is fraud.

So she was defrauded in the first instance by getting her to sign up for a mortgage for the sole purpose of getting an investment that will help her live, defrauded again because the papers used all nominees —- MERS and First Magnus — but the homeowner always gets stuck using their real name and their real life.

Well with everyone out of the way, suddenly Chevy Chase enters the picture long after IT was defunct and resolved being one of the first banks to collapse in the mortgage meltdown. But here it is supposedly executing papers giving US Bank, who appears nowhere on the title of anything, to enter the picture. Litigation with Chevy Chase Bank is on appeal — but requires this homeowner to post nearly $60k in supersedeas bond.

SO the homeowner I am assisting is dealing with multiple ghosts and no judge seems to get it.

  • Chevy Chase is dead, but they are treated as alive in this case.
  • First Magnus is dead and even filed schedules showing non-ownership of loans, never owned the loans and was discharged in bankruptcy in Tucson with only an assignment of servicing rights because that is all they had. Yet here is First Magnus having its name used by Pamela Campbell in a faked, forged instrument.
  • The obligation and note were discharged in the homeowner’s OWN bankruptcy.
  • Yet here she is fighting with US Bank as though there were an obligation, as though US Bank owned it and as though CalWestern was the real trustee in the deed of trust which has long since been eviscerated and probably was never perfected. Somehow this all adds up to eviction, displacement and seizure of property by the only people we are sure have absolutely nothing to lose because they never invested one dime in the deal.

So The mortgage originator, the mortgage aggregator, the obligation, the lien are all dead, bankrupt and discharged nice and legal, but here is a homeowner who is being forced out of her home, having per possession seized in record time and fighting for her life because these are the only two assets she has.

Now here is the kicker: the home they seized, along with its contents lies on a piece of land without any ingress or egress. The movers had to trespass on neighboring property to move the stuff out. There is no water, but the judge nevertheless found that the rental value of the property was nearly $1,000 per month (Judge Gary V Scales). This was done with the only evidence in front of the Judge being my affidavit stating the property was essentially unusable and estimating the value of the rental to be a couple of hundred dollars for those who are not feint of heart and willing to haul water and sanitation to the property.

Homeowner Suffers Horrific Injustice at the Hands of JPMorgan Chase

For over two years I’ve had a front row seat for the foreclosure crisis, the by-product of our government’s complete mishandling of the worst economic downturn in seventy years.

During that time I’ve been exposed to some pretty horrific things… people living in their cars with a child sleeping in the trunk… the eviction of an 89 year-old couple… I’ve gotten to know what that fear sounds like and feels like… the fear of losing one’s home while the country talks about you as being nothing more than an “irresponsible borrower,” someone who never should have bought your home in the first place, even though you may have lived in it for 30 years.

What I saw this past week, however, was something new for me… I’d heard of things like this happening before, written about them, even.  But, I had never seen anything like it, up close and personal.

As a warning… this story is not for the squeamish.  If you’re pregnant, or have heart disease, or just want to go on pretending that your country is still a place of which you’re proud… it’s better that you click off now… because this one isn’t going to make you laugh.

An Anaheim couple with an eight year-old daughter has lost their home… that would be one way of phrasing it.  Another way to describe what happened would be to say that JPMorgan Chase, an outfit that I now see clearly is significantly worse than any crime family… has thus far been permitted by the courts and the laws in California to STEAL an Anaheim couple’s home.

Why do I say that Chase stole it?  Well, there are lots of reasons, but I think the one that tops my list would have to be, because they never missed or were late on a payment… in every single month that JPMorgan Chase told the couple to make a payment… they paid the exact amount they were told to pay… on time and as agreed… never missed even one… never were late, not even once.

“We trusted the bank,” the Mom says, “like idiots.”

The husband in this family worked for the City of Placentia in Southern California for some 27 years.  The wife and mother has her own small business.  Their adorable eight year-old daughter, whose life is about to be inalterably changed at the hand of JPMorgan Chase, goes to school near by and loves her home.  Her parents haven’t told her anything about this yet, and I pray to God they never have to… that JPMorgan Chase comes forward and stops this egregious wrong that they have let happen… that they have created.

I can barely tell this story… I can’t imagine it ever happening to me… I can’t imagine it ever happening to anyone in this country… a place I used to proudly think of as my country.  Not so much anymore though.

The husband in this family became ill a few years ago… advanced diabetes… his kidneys have failed, he’s on dialysis… heart disease… he’s spent time on a respirator while hospitalized.

Yet, they’ve made it through everything, this family, through all of that and more… stayed together… raised a daughter… found ways to laugh and play together… they must love each other very much.

They had bought their 2-bedroom home in August of 2006… as it turns out… terrible timing… but who knew that the bankers, who had leveraged themselves 40-100 to one, were about to blame homeowners for their defrauding of the investment community, bankrupting the global financial system, and destroying the credit markets?  Bernanke didn’t know… Paulson didn’t know… personally, I think that lets this couple off the hook about the whole should-have-known thing.

So, for three years they made their payments without fail.  And maybe if it would have just been the economy or just the medical bills, they would have made it through this… but both was too much, and they received a Notice of Default in July of 2009.

They applied to JPMorgan Chase for a loan modification, and Chase granted them a trial modification in February of 2010.  Chase told them to pay $869 for three months, and entered them into another program in May, telling them to make monthly payments of $1358.

They paid every month, on time every time… by cashier’s check, as required by Chase.  The trial modification paperwork said something to the effect of:

“If all payments are payments are made as agreed, we will reevaluate you to determine if we can offer you a permanent modification.”

“We trusted the bank,” the Mom says, “like idiots.”

In August, they received a Notice of Sale.  They called Chase… and imagine their relief when they were told not to worry one bit about that notice.  Apparently, it was just the fault of Chase’s stupid computer system that just spits things like that out without anyone telling it to do so.  False alarm, what a relief.

So, they paid their September payment… and paid their October payment… and it was around October 10th when they received another Notice of Sale.  Again, they called Chase, perhaps a little less nervous than the last time the same thing had happened… and wouldn’t you know it… another false alarm… it was that darn computer system again.  Nothing to worry about, Chase told them… just keep those payments coming.

Oh, but while we’ve got you on the phone, we need you to send in some current paycheck stubs and other miscellaneous pieces of information, which they did… and then did again… you know the standard operating procedures for servicers by now I’m sure.

I know, it’s not Chase’s fault… they’ve reportedly been having trouble hiring minimum wage people for the last three years.  Or was it the investor’s who won’t let them modify?  I can never remember which lie was Chase’s favorite… Bank of America was having the phone problems… Wells couldn’t stop their employees from losing stuff over and over… Yep, Chase was the can’t-hire-anyone-and-investors-won’t-modify, I’m almost positive.

Right around the third week of October, they come home to find a notice of sale pinned to their front door.  Oh my God… they called Chase again.  “Oh, just ignore it once again,” Chase lied.  “You don’t have to worry about that, silly, you’re under consideration for a loan modification, why would we sell your house?”

A few more days and another notice on the door… Chase back on the phone… but this time everything was different… Chase said they were selling their home in ONE HOUR.  To stop the sale, they would need to get down to the courthouse with about twenty-five grand… in 55 minutes, 50… 45… 40…

I suppose we needed another vacant home in Anaheim in a hurry, because predictably, the home went back to Fannie Mae at the Trustee Sale.  Gone, in the blink of an eye… sold October 21, 2010… just 21 days after they had made their October payment.  Chase had told them not to worry… it was just the computer system… no one would sell their home.

And now it was gone.

“We trusted the bank,” the Mom says, “like idiots.”

The father has a hospital bed in the living room, he requires special care… their daughter… in school close by… eight years old… is that second or third grade?

The couple pleaded with Chase that day on the phone, I can only imagine what that felt like for them on that day.  Here’s what the mom said to me:

We’re not people who simply decided to skip out on our mortgage. We did everything as upright and by the book as we were instructed to do by Chase yet we still lost our home. On the day they took back the property, I called Chase pleading for an alternative to this. Their reply to me was “I suggest you find a new place to live.”

The Unlawful Detainer or UD hearing was the next indignity the couple would suffer… and I haven’t been able to stop thinking about this next part all week.

With the medical bills they were receiving, and the uncertainty about the future, they didn’t feel they could afford a lawyer for the Unlawful Detainer trial. As the date for the UD neared, the husband was still in the hospital; he would be released roughly 48 hours before he would have to be in court.

They found an attorney who would help them and she called the opposing counsel, a lawyer from one of those scum-of-the-earth foreclosure mills that have no doubt been making untold millions intimidating homeowners, already scared to death and almost always without counsel, McCarthy & Holthus. They look like rich young men who don’t care at all about what the banks are doing to their neighbors… well, maybe not their neighbors… they probably live in some zillion-dollar beach pad.

(Hey fellas… looking forward to seeing you on Google!  If you’ve been spending money on SEO trying to rank up at the top, I’ve got outstanding news… I’m going to put you right up there.  May not be exactly what you had in mind, but then I don’t give a rat’s ass what’s in your under-developed minds.)

The couple’s lawyer asked the McCarthy & Holthus lawyer if there could be a continuance as the husband would be only a day or two out of the hospital…. they said they’d check with Fannie Mae… then said that Fannie said no.  I guess Fannie Mae, a bankrupt and tax-payer owned mortgage company really wanted another empty condo in Anaheim.

The lawyer asked, what if the couple comes in and asks the judge for a continuance, would McCarthy & Holthus object?  No, she was told, they would not object “vigorously.”  So, the couple went to the UD expecting to ask the judge for a continuance, she pushing him in his wheelchair.

As soon as they walked in, another  McCarthy & Malthus lawyer, Kevin Mello was walking towards them.  As he approached, the couple overheard Kevin say to another, “I’m so sick of all these sob stories.”

Oh, no he didn’t… Oh, yes he did.

(And boy oh boy, is Kevin going to regret saying that… LOL… Yoohoo, Kevy, baby… you hang in the courthouse right near my house… do you know how lucky you’re aren’t?  I’m actually making a documentary about the foreclosure crisis, and hadn’t yet cast the shithead.  How lucky is that?)

Mello asked the couple when they could be out of their home.  They said that they would need six weeks.  Mello made a call and said they could have 30 days.  The husband asked to talk to the judge, but our guy Kevin said, “Why, the judge has no authority… he’ll tell you to be out in 4 days… the bank has all the authority.”

Does it now, Kevin?  The bank?  Fannie Mae?  The scandal-ridden, morally and financially bankrupt, already absorbed into the federal government, Fannie Mae?

Kevin had some papers he said that the couple needed to sign.  They said no, they didn’t want to sign anything.  Kevin said they had no choice… either sign or be out in four days.  He put the documents in front of them… they couldn’t move his hospital bed in 4 days… they signed.  Stipulated to a judgment and waved future claims.

When they appeared before the judge, he said that they should be GRATEFUL that the bank gave them 30 days.

When the couple tried to relay the story of the loan modification con job and Chase lying and then the stealing of the home… well, they didn’t use those terms, I did, but someone has to, right?  Because that’s what happened, and I don’t give a damn what other factors are involved, that’s what happened, sure as shootin’.

And, even though I’ve been covering the inconceivable tragedy that is the foreclosure crisis, after learning of what happened to this this couple, I couldn’t help but wonder how or why this could possibly happen… and no one cared… in this country… and no one cared.  Because I know I’ve been hard on the servicers, and deservedly so, but is it really possible that they are actually inherently evil… are they literally lying to everyone and intentionally try to sabotage the nation?  How could that be true?  It couldn’t, right?

And something occurred to me, something that I had not previously considered.  And maybe it’s important to consider.

Prior to the last three to four years tops, foreclosures were a very different animal than what we have going on today, but I’m starting to think that maybe a lot of people don’t know that.  You see, prior to this crisis, foreclosures were exceedingly rare.  When someone got into financial trouble they either sold their home, or borrowed against it to get through the storm.  But this housing market was pushed off a cliff, the credit markets froze almost overnight, prices fell through the floor and fast.  People losing homes today bear no resemblance to the foreclosures of the last 50 years… no resemblance whatsoever.

So, maybe our entire system, including the inadequate and fraudulent documentation, and the incredibly uncaring and incompetent treatment of the homeowners involved… maybe it’s happening because we haven’t stopped to realize that although today we have foreclosures and years ago we had foreclosures… they really shouldn’t be called the same thing because they’re not the same thing.  In fact, they’re so different they shouldn’t share the same moniker.

Maybe we should call today’s foreclosures, fraudclosures… I mean, like all the time… like as in someone call Webster’s.  Maybe if our society understood the substantive nature of the distinction, things would improve… no?  I think maybe  yes.  Like, do the bankers think that today we’re just having more of the same foreclosures we had years ago… same thing… just more of them?  Because that’s not the case.

Because in the days before this crisis, you’d never modify a loan… the person who went into foreclosure wasn’t a person that anyone would ever consider modifying a loan for, because by the time they went into foreclosure there was no hope for anything but repossession and after that, of course, liquidation was a certainty.  That’s not a description of today’s situation.

Look, what happened to this couple… is it not the kind of thing that you might expect to happen in some totalitarian regime?

So, why is that okay with even one single American?  We treat criminals better than this.  But today’s homeowners aren’t losing homes for the same reasons as before, they’re not deadbeats, they’re victims.  And something has to be done to change this, because as sure as I’m sitting here, what’s happening is going to end badly and I fear, violently.  People are going to get hurt… I don’t know how, when or where… but no way does this just keep going and everyone’s okay.

Chase’s conduct was so offensive that a highly experienced trial attorney agreed to take their case.

A complaint will be filed on Tuesday in Orange County Superior court seeking compensatory and punitive damages.

The couple’s lawyer would later ask a McCarthy Holthus lawyer about the apparent preference for coercion and intimidation, and she basically replied by saying, “Hey, look… I’m not their lawyer, I’m the bank’s lawyer.  If they wanted a lawyer they should have had their own.”  My words, not hers… but that’s what she was saying.

No, I’m sorry McCarthy Holthus… on that point you’re entirely wrong.  I mean, everyone know you don’t need to pay a lawyer when you’re applying for a loan modification… just ask the California State Bar, the Attorney General’s office… President Obama… come on… everyone knows that.

Mandelman out.

53 Responses

  1. There have been quite a few on this site that have tried their damnest to get people to move off dead center and unify – Our efforts went unattended and thus we have left the decision making process in the hands of the Feds. We told everyone this that they either had to move on it or we would lose the opportunity. It may not be too late, but the banksters, the feds and teh AG’s have made perfect fools out of all Americans, not just those directly affected by the heist of the century and what has been pulled off in tandem with the Feds.

    We could have done something over a year ago as all of this coming out is old news, not new. We gave up our right to fight and defend the rule of law and now here we sit with the threat of being lead around by the banksters and the feds once again while we put our money in their banks. If they did not have our money which is what it comes down to, then we would be controlling the situation. We have no one to blame but ourselves for not stepping up. But we spent more time on individual complaints in the court and who did what to whom instead of walking into the fire and putting it out. It has consumed us so far as they continue to use our money.

  2. SERVICER controls all transactions from RETAIL to FORECLOSURE.

    The loan as a mortgage-backed note purchased by the institutional non-deposit trust company issues check when the institutional pass thru agency orders the transactions, loan# assigned, affixed to cashier’s check/electronic wire transfer moving cash at RETAIL in exchange for cash the Temporary Lender allows third party to service monthly payments. The Temporay Lender is the ‘assignment’ recorded in the county clerk/county recorders records. The Temporay Lender makes money as ‘short term investments’ and all investments in pass thru agencies must be closed within 90 days are not recorded (untraceable) transactions that are eventually suppose to be reported elsewhere for federal income tax purposes.

    The loan was presold at retail, in exchange for the mortgage-backed note, the insitutional investors bank, c/o non-trust depository company paid the ‘closing agent’ c/o pass thru agency c/o Registrant.

    Example, Deutsch Bank Trust Co of NJ LTD a non-trust depositor, non member, has a commercial checking account with financial insitution Deutsche Bank Trust Ameircas. TDBT Co Ltd of NJ paid 90 days prior to loan being placed into the FWP of the Issuign entity but the Owner already converted the cash as prefudning into other assets as short term investmeents c/o pass thru agencies. During the 90 days, the existing loan (prior loans) are placed info forced default in order that the resale of the mortgage-backed note will be at REO value in order ot not affect REMIC status. Meanwhile the monies attached to the mortgage servicer are not subject to money laundering regulations, and the institutonal banks don’t have to record the required doucuments under Patriot Act, and FinCEN blocked by extraordinary powers of OCC under Supremacy Clause ‘visitorial powers 2002 forward, preventing State Attorney Generals enforcment of laws ni which all affiliates of Mortgage Servicer ‘protected’ for all acts which laundered money from US Dollars into other assets out of the nation harming the economy.

    And President Barack Obama will do nothing!

    The new loan (a mortgage backed note) funding paid to pass thru agency c/o ‘Mortgage Servicer’ not subject to the money laundering regulations and but for the good reasons

    Patriot Act AND
    2002 OCC Visitorial ExtraOrdinary Powers OF SUPERMACNY CLAUS …
    Aftter, Deutsche Bank Trust Americas ‘trade name’ for Bankers Trust all money related to ‘RETAIL’ mortgage servicing does not subject to ‘money laundering regulations’ and protected by Extraordinary powers of OCC Visitorial Powers Supremacy Clause. All State Attorney Generals thwarted enforcing law when they brought cases under Consumer Protection Laws, for example, against any affiliate related to the ‘Servicer’ a federal bank association or federal association govered by FEDERAL RESERVES’ page boy ‘OCC’. Private Wealth managers free to launder money thru pass thru agencies in which trillions of US dollars converted into other assets under the nose of OCC and not under the nose of FinCEN.

    But for these good reasons we have the March 2003 MERS COMMERCIAL SERVICES, National Registry Version 1, and July 2003, Wells Fargo/John Hancock’s first fully documented CMBS deal publically exposed and nothing no one could do about the eNotes, the shredding of the real notes, the falsified documents including satisfaction of mortgages, false assignments, fals allonges, etc.

    By 2004, the escalation of institutional banks and insitutional investors moving money through Mortgage Services’.
    Residents placed in danger. ‘Mortgage Brokers’ could be unlicensed. Any acts of harm against a consumer at retail could not be prosecuted. Consumers solicited to place properties inside pipelines of alternative investments under the glove of ‘Mortgage Servicers’ is how the refinancing freenzy took place.
    Credit Risk analyzed, 2004 + 5 Years 2009 credit swaps reveal the intent of life-span. In only 3 short years, the loans were slowing down, the 2007 bubble related to the economy looking good but…. ,

    If a consumer holds copy of transaction which is typical, then the non-deposit trust co issuing a cashiers check ordered by the Registrant a pass thru agency which references the new loan assigned to a ‘mortgage backed note’ issued the cash to closing agent c/o pass thru agency and refernces the loan # reveals the instituional investor’s non-trust depository responsible for moving money thru Mortgage Servicers and all of the affiliates of the Mortgage Servicer including the non-trust depository company are exempt from recording Patriot Act money laundering registrations.

    The OCC 2002 forward blessed with visitoral powers under Supremacy Clause allow the ‘Mortgage Services’ Retail transaction to be hidden not looked at by anyone for OCC did not look at RETAIL until caught during Foreclosure Gate.

    The cash taken out of a non-deposit trust company’s checking account, deposited into SEC Registrants’ pass thru agency at RETAIL for a loan# 0123456789 which will be come a mortgage-backed note, which is not subject to Patriot Act regulations which govern money laundering is how our economyh harmed, third element of our national security.

    Temporary Lender is a mortgage lender that sells the loans it originates into the secondary market shortly after closing, as opposed to holding the loans in portfolio. Most lenders are temporary lenders.

    These lenders have a few options when selling loans.

    Security dealers may be willing to purchase the loans for the purposes of securitizing the assets for resale to investors.

    Other lenders may buy the debt and hold it in their portfolios. The temporary lender may also sell its loans into its own trust, as part of a securitization process.

    Temporary lenders make money in three primary ways.

    First, they charge fees to the borrower.
    Second, they originate loans at interest rates above par value which allows them to sell the loans into the secondary market for a premium price (the loan is worth more in the secondary market than the actual principal balance of the loan because of the above par interest rate).

    Third, depending upon the slope of the yield curve, they earn a warehouse spread for the time in which they are the holder of record of the loan (the interest rate on the loan is higher than the interest rate at which the lender borrows money to fund the loan – this spread is earned until the loan is sold into the secondary market).


  3. When the Judges, or the City Council, etc., ignore the laws and rules and give something to someone that the had no right to, in the beginning it is confusing to newcomers. What I have learned from 25 years of seeking some lawful justice, in several different venues, is that they ALL KNOW WHAT THE LAWS AND RULES ARE..
    THEY JUST WANT TO GIVE A GIFT TO SOMEONE THEY KNOW/LIKE OR WHO HAS PAID THEM OFF. I know a lot of people won’t believe that, but in 3-5-10 years you will know that it is true. Specially the Judges…they all know, they all understand, there is seldom ignorance of facts there. It’s is such a sad thing for a country that use to be so wonderful…at least I used to think so.

  4. We should be suing the government for failure to “protect and defend” the country from attack. We are being attacked by the banksters and this country is being raped and pillaged right in front of our eyes, and no one is doing a damn thing about it. This is financial terrorism. The little battles we fight in the corrupt courts do nothing. The judges are paid by the banksters. The entire system is corrupt from the top down.
    Until we stand up en mass, and DEMAND an end to this fraudclosure, a moratorium, more and more people will suffer. WHY should we suffer?
    So the banksters can make more money? It’s disgusting! It is OUR money that the banks use to profit from.
    Jamie Dimon is a crook. I sent a tender offer of $100,000 to settle on my house. The loan was only $75K, but they ran up $25K in bogus fees. He kept it , probably securitized it, and they took the house anyway! Acted as if they never received it. An offer refused or accepted discharges the debt. He never returned it so it was accepted. The bank (Chase) then admitted that Freddiemac owned the mortgage! They stole my house. Judge was crooked- kissed ass to the bank. They are selling the court cases on wall street. They are securitizing them. Probably selling it 10 x over.
    Everyone should take all their money out of the big banks. They are the owners (stock holders) of the federal reserve. This is a takeover of America. We are not a free country anymore and we are being run by thieves.. They did the same thing in the 1930’s. Stole millions of farms, then again in the late 1960’s-1970’s. We need to come together in a big way and so NO MORE! Shut the govenrment down, until they do what we want.

  5. We believe now that the loan did not make it into the pool from day one but of course in the court they claimed it was in the trust. So nice of the judge to tell them that he and his staff looked and they could find no loan in that name. Regardless of course he ruled in their favor and this case is in appeals.

    Can you tell me what happens when they play the game that the loans were subject to repurcahse, who would get the loan back if these two defunct companies now owned by Citi are gone. Does that mean that Citi group is going to receive all of the pretender repurchases? This is really wild.

  6. seniorauthor

    Join the club as to computer!! Argent/Ameriquest? — long gone — Citigroup purchased business entity — almost 4 years ago. .


    All of the above. Good deal — ONLY and ONLY if current creditor is identified. Forget security investors as the creditor/lender — they are not — we only study securitization to DEMONSTRATE — than NOTHING WENT ANYWHERE — as they claim to state. We are interested in CONTRACTS — whether those contracts be direct sale — or credit default swaps. THERE ARE NO SECURITIES INVOLVED AS TO COLLECTION RIGHTS OWNERSHIPS.. ONLY CONTRACTS — and many of those contracts are PROPRIETARY — and Proprietary relationship supported by US Government — due to TARP bailout.

    The A Man — believe in you — much ongoing — just need to keep plugging.

  7. oops—I meant “kick the dog” actions…

  8. E.Tolle—From your link:

    “…It appears that the only thing that might rise to the level of being “indefensible” is damage to life and limb, so all white collar crimes are exempt. This is a classic totalitarian, “might makes right,” argument.

    And mind you, Wylde allegedly represents “the public” on the New York Fed’s board. With friends like this, who needs enemies?”

    To me this is not a “white collar crime” that hasn’t affected “life and limb”…What about the murders, suicides, heart attacks, strokes, stress, job loss, despair, child abuse from the parents’ ‘kick the can’ actions against them…these are VERY real, and directly related to the VAST mortgage “crimes”…
    I keep thinking that the only way the WHOLE truth will come out is in journalism…like Woodward and Bernstein…Deep Throat…how do we make that happen?

  9. @ carie, you’re most welcome.

    You need to read Yves Smith take on the matter. She sees clearly through the blatant smoke and mirrors on the part of the administration and the banking cabal. A few years ago they used to make a go of at least attempting to paint a better picture of what they’re up to. Not anymore. Now it’s simply in your face wholesale financial rape. From her opening:

    It is high time to describe the Obama Administration by its proper name: corrupt.

    Admittedly, corruption among our elites generally and in Washington in particular has become so widespread and blatant as to fall into the “dog bites man” category. But the nauseating gap between the Administration’s propaganda and the many and varied ways it sells out average Americans on behalf of its favored backers, in this case the too big to fail banks, has become so noisome that it has become impossible to ignore the fetid smell.

  10. E.Tolle—thanks for posting that Gretchen Morgenson link…

    from the article:

    “…Characterizing her conversation with Mr. Schneiderman that day as “not unpleasant,” Ms. Wylde said in an interview on Thursday that she had told the attorney general “it is of concern to the industry that instead of trying to facilitate resolving these issues, you seem to be throwing a wrench into it. Wall Street is our Main Street — love ’em or hate ’em. They are important and we have to make sure we are doing everything we can to support them unless they are doing something indefensible.”

    Mr. Schneiderman declined to comment on the encounter.

    Mr. Schneiderman has opened an investigation into Wall Street’s mortgage machinery, especially examining whether loan documents were provided to the trusts as required under securitization contracts.”

    Wow…so, the search for truth and justice is now reduced to being called “throwing a wrench”…

    And what exactly does Ms.Wylde call “indefensible” ? I guess the rape and pillage of America is defensible in her sociopathic, materialistic peabrain…

    God help us all!!!

  11. Warning ‘principal reductions’ may be new form of loan modification in which the bad debt was resold, and the ‘reo investor’ offers you to sign on the dotted line and will the day after you sign ‘attach’ bad debt that ordinarily one expects not to be collected. You are warned.

  12. Hang in there, Pat and all of you currently fighting: it will get better. Don’t know when, don’t know how but it simply has to. Without being corny or wanting to be a put off, I firmly believe what I was taught for many, many years: Jesus died for us to conquer fear and realize that victory is in the fighting for what is right, regardless of the outcome. And when it does get better, we will experience the Great American Clean Up, at every level of society, government, industry. But we have to fight, we have to confront the situation and we have to decide that, in itself, the house they are after is nothing. Banks are not even after the house. They couldn’t care less about the houses. In fact, they are systematically and methodically destroying them once they have successfully stolen them. Banks are after the people, their determination, their sense of justice, their will to live and their power in number. Banks know for a fact that the day we wake up unified is the day they will cease to exist. Banks don’t realize how much power there is in owning nothing and in having nothing to lose. The more of us they create and the more tenuous their position.

    Hang in there, name names, spread the success stories (and notice that none of them happens without a fight). I got screwed by a loan modification outfit last year and contacted everyone I could think of when I realized it, after having shelled out $2500. I learned yesterday that the Florida Bar Association is investigating (I am one of the hundreds who filed a complaint), IN. and FL AGs are investigating. It’s a beginning. And the same way that it took almost 10 years for banks to create that mess, we have to count as long for it to be fixed. it will be fixed.

  13. My computer has been attacked as well. Someone was in my computer as well. They were in my telephone as well, because it is a VOIP internet phone.

  14. A little concerned but perhaps no reason to be – someone appeared to be conrolling my computer last week for a couple of days. Started about 4:42 in the morning and it seemed clear to me, I could not aways get my browser to go where I wanted it. And then on Friday, it stopped, just like that. Is this an issue with the provider?

    I was writing an email about the chain of note and lien on an Argent-Ameriquest sale to a WF trustee pool when it started. Wasn’t saying anything that had not been said many times on the blog and elsewhere.

    Maybe it means nothing – I am not a computer oriented person.

  15. @ cubed2k, I went to rent a car not too long ago, they wouldn’t let me reserve it with a debit card, they said only CC. I told them I purposely don’t use CC’s anymore, but that I’d gladly reserve it with a debit card, and then pay them the entire price in cash. They said they wouldn’t reserve with a debit, and wouldn’t take cash, only CC.

    I got a rebate in the mail today for $50 back on a smartphone purchase awhile back. Instead of a check, it came in the form of a Citi debit card. I HATE Citi!

    Chase is getting rich off of the nearly 50 million folks on food debit cards, as if the high paid government folks couldn’t figure out how to debit for themselves, rather than pay the devil to do it for them.


  16. Gretchen Morgenson has a piece in the Times on Obama turning up the heat on Schneiderman, or should I say, the bank cabal in the oval office is adjusting the NY AG’s thermostat? They’re framing this as simply a debate over making sure servicers don’t “cut corners” and the like, when Schneiderman and crew go way beyond that to the fact that the securities were never perfected. Obama’s group are re-writing the entire framework of issues here sticking up for the banksters. These are dangerous times for Schneiderman. Here’s hoping he can stick with it, without ending up hookered in a frame-up or worse, much worse. I don’t put it passed any of these jerks.

    “The Justice Department, along with our federal agency partners and state attorneys general, are committed to achieving a resolution that will hold servicers accountable for the harm they have done consumers and bring billions of dollars of relief to struggling homeowners — and bring relief swiftly because homeowners continue to suffer more each day that these issues are not resolved.”

    Why do I not believe the justice departments concerns here? Maybe the simple fact that they’ve ignored tens of thousands of criminal activities as if they were parking tickets has something to do with it. We’ll never restore honor to this government, it’s a lost cause. Banker bitches one and all.

  17. Here you go, the BANKS are now GOING TO CHARGE YOU for using CASH??????????????/ or negative interest rates since you get no interest rate for saving money. STAY away from the banks.

    USE a debit card, CASH, it now costs you money to use it, CASH saved. PLASTIC all the way man. Those plastic demons. Those plastic demons were credit cards, now they are becoming debit cards. the idea———–use debit card, it costs you money, but advertise use credit card————another plastic demon……………all the benefits of using your credit card……………..,0,4198554.story

  18. Follow with me here —- all you know it alls (and I ain’t a know it all, just somebody to help):

    Here are the headlines on these news articles on these websites regarding the exact same ruling!!!!!!!!!!!!!!

    HEADLINE: NJ judge clears mortgage servicers to resume foreclosures


    HEADLINE: New Jersey Judge OKs Five Major Servicers to Resume Foreclosures


    HEADLINE: NJ judge allows 4 major banks to resume uncontested foreclosure proceedings – The Star-Ledger



    Which one got it right out of the three? The three HEADLINES are from (sources), and (and the STAR-LEDGER).

    What one WORD is added to the headlines that the other two headlines do not have?

    Answer: uncontested

    Here is the actual ruling

    stamp dated AUG 15, 2011

    which states “uncontested”


    The power of headlines to get people to react, to do, to NOT DO. The power of news articles to leave or omit important words, or data.

    So, what if you are in NJ, what if you CONTEST your Mortgage. What happens???????

    Don’t contest ————- you loose.

    America ————- US Citizens————Without fail you ought to CONTEST. What have you got to looooooose.

  19. Opinion
    Being real here.
    She’s fighting who?
    like vs like or unlike vs unlike
    is it an equal or not?
    All men are created equal. What man does she fight?
    All men are endowed by their Creator? Does here enemy have the Creator within?

    Then if it’s not an equal, it’s not a like vs like.
    If she has the Creator and it does not, then it’s not a like vs. like.

    It’s complicate because we don’t now ‘who we are’ and then we don’t know who we fight.

    The court plays on the ignorance before they care to deal with the case.

    When both sides have attorney, then it’s a like vs like.
    Atty vs. atty

    If there is no like vs like there is no jurisdiction in addition to other things.

    Person – corporation, association
    I an see that in the bank, it’s a corporation.

    Is the woman a corporation?
    I know, I know…it sounds so far fetched no one wants to go there.

    Then don’t.
    I see the same results. Do you?

    Light and lots of Love,
    Trespass Unwanted, life, corporeal, free, allodial, jure divino, in jure proprio

    “I have been hearing of some good deals — have heard of some huge principal reductions — and, you are right — when servicer parent owns the “loan” — the negotiating is easier.”
    UKG asks: What claims/counterclaims are bringing the best success?
    Fraud? Robo-hobos? Predatory origination? Servicing abuse? Default fees? Bankruptcy victories only? All of the above? And what constitutes a “good deal” for a borrower? 20%? 50%? Rescission? What?
    More importantly, explain why the longer in default/litigation, the least likely to settle?
    As always, appreciate your commentary.

    Nora, we all know money and power win, but only for awhile. The tide is turning. Can’t hide anymore. Have to fight.

  21. As I read this story I feel like I am going to have a heart attack! I am dealing with same players Neil spoke about just different originator who you guessed it is out of business. I am in non-judicial so up hill battle all the way.

    I have decided to fight them in every way.

    One small battle at a time if they get this house it will not come without them spending some money!!!I will tie them up as long as I possible can.

    Reopened my BK to file Adversary proceeding for discharge violation and judge agreed with me an awarded attorney fees and sanctions. Funny thing is a few days before this court hearing the pretender lender rushed the foreclosure through and called my BK attorney to offer a modification ( you know the one all pretenders had said no to for the past 3 years) 10 min before foreclosure if I would withdraw from the Adversary proceeding. How generous of them!
    They had not filed proper notice as required in my state but I had a Google alert set up in my name and property address and was alerted when it came up and filed my own suit 30 min before the foreclosure! Funny they advertised it on Oddle a FREE classified on line ad only!


    Can you say GO POUND SAND!

    I said no way I will see you in court. I know they can not modify what you do not own I won attorney fees and sanctions! This was like poking a GIANT but I will see them in court again for Fair Credit Violations in the near future. I feel certain at this point I want a jury trial so I will not settle. They have made an offer but I prefer to take my chances you see I have nothing to loose they already foreclosed!

    Funny how determined one can get when they don’t have anything to loose. I am now more determined then ever to tell everyone what is really happening.

    Thank goodness for this site I already had foreclosure attorney set up to file suit before they foreclosed and we got it in 15 min before the foreclosure. Paying an attorney to fight wrongful foreclosure praying I make a difference in my community for all who are fighting.. The stress is taking it’s toll
    I now hate this home it is no longer about the house it is the principle of right and wrong now.
    My kids could care less if we live here which is sad their last 3 years have been ruined by the fight but they also have learned alot about their parents . We have worked hard all our lives and have not done anything wrong.
    This whole experience has been a nightmare.and this is my 7th home so I know what a proper mortgage feels like and this is not one of them!

    Shelly I am out of tears I hope all who are on this blog can find the strength to fight for those who have lost the battle with loss of their home, family or worse a family members life. This had got to STOP!!!

  22. I remember all too well well the big four jacked my credit card rates to 30% ———— when I was never late and paid every month————

    BoA, Chase, Citi, Cap One ———-here’s one for you

    ……..(‘(…´…´…. ¯~/’…’)
    ……….”…\………. _.·´

  23. A Man

    I agree with you and hope the Big Four will go down especially #1 Big Four, but I read an article on Bloomberg the other night that the Federal Reserve Bernacke said that their main goal is to protect the big banks at no cost. I think the big banks are broke but I believe the Federal Reserve has trillions of dollars.

  24. Keep it simple and say the same thing over and over and over and over again.


  25. The Banks are going down just like Rupert Murdoch and his criminal newspapers. Including the WSJ.

    What I meant Anonymous we keep on looking for new theories new angles etc… when all we need is to enforce the existing laws. KISS. keep it simple Sam (stupid). and say the same thing until the rest of the American People take action.

    thanks Anonymous for all of your contributions.
    I believe in the American

  26. The A Man

    Yeah — get sick and tired — but will never give up. Justice department under clutches — need government intervention — -a focus.

    Need to focus on crime exposure. Need everyone to hound government agencies, officials, Congress, and party nominees — need to shout out loud. Up against HUGE power — and joining together is only solution.

    Remember — I nominated you — quite some time ago — to lead?? You declined.

    Would not be here — if I did not have some faith that exposure is coming — may be sadly too late for some — but — coming.

  27. seniorauthor,

    I have been hearing of some good deals — have heard of some huge principal reductions — and, you are right — when servicer parent owns the “loan” — the negotiating is easier. It is when loan whereabouts are unknown that negotiating is impossible. A good mediator knows what he/she is dealing with — and will want all cards on table. There are some good mediators. But, unfortunately — many are not in mediation — or before a mediator that has no power because the real party not at table.

    For all others — as in the case posted above — need to trace the time and path of servicer claimed default. Servicer has all information — servicer controls — servicer most often not willing to cooperate to divulge where current collection rights lie. It remains in government hands to pursue servicer fraud — including servicer fraud in loan mods. In ALL cases, collection rights are NEVER with security investors, trusts, or trustees.

    And, for those who have been fighting foreclosure fraud for years — negotiation is likely impossible. Must continue to fight the fraud in court.

    But — glad for you — and for your client.

  28. Where is the Attorney General of California? She is busy rounding up low level attorneys, who she is helping create the market of desperate homeowners.


    ANONYMOUS arent you sick and tired chasing your tail. We all know the laws that need to be enforced. We need to get the Justice system to enforce them, that’s all.



  29. seniorauthor –

    You said we the people need to know. I spoke with you before and you are not a homeowner being abused by the banks but were trying to find out if you could help people who were interested on this website modify their loans with the banks which cannot be done because they were not loans to begin with.

  30. Although I am from Texas, there will be no vote for Perry – Agree with you about both comments.

    In mediation, we have refused to go with Hamp and have explained to the mediator why. Both the servicer and the mediator have agreed with us that we have the right. When the bank owns the loan and services it of course, it is so much easier to go that route. We will see. I hope they don’t change their mind. Got a great deal worked out for the client and servicer seems to agree with it. Of course we will have to drop the small claims suit against them. No one seems to be going that route but it has worked a couple of times for us.

  31. seniorauthor

    Thank you to you.

    And, as to “proprietary” — means ownership relationship.

    Under HAMP — only required to consider loan mod if Freddie/Fannie the “lender./creditor/investor” — whatever they want to call themselves. But, banks and other “investor/lender/creditor” debt buyers are free to pursue their own loan mod for borrowers and are not required to adhere to HAMP — but, rather, loan mod is considered a “proprietary loan mod” – subject to debt buyer investor terms. And, servicer determined – ie — servicer manipulated. And, these “proprietary loan mods” are the “rabbit hole” of fraud.

    Thus, in the above case, in which victims were totally trusting, the “loan mod” was not under HAMP — but was instead being manipulated to get loan out of Fannie — thus, no HAMP requirement — even though victims were paying the mod payments.

    These victims were stuck in a manipulated “Proprietary loan mod” — for which Fannie/Freddie maintain — that they cannot divulge information regarding loans in default — because “this information is proprietary and not available to the public.” Meaning, bank debt buyer, debt buyer, hedge fund — are not required to be divulged — because — they are deregulated – and loan is no longer an F/F loan. .

    Free and clear to these entities — government has no control —- government chooses to do nothing about it. Why?? Deregulation. . Victims are a number — nothing more — a number government now wants to clear from all records. And, the participants in the open fraud — are numerous — just as they were numerous in subprime mortgage refinance fraud onset.

    Nothing left in America for growth — growth gone — and crooks continue to come out of woodwork. . Deregulated.

    Perry — Texas — wants 6 months of no regulation??? What is he nuts?? Deregulation root cause of all problems. But, Obama?? — just as bad — Democrat in Republican clothes. And, I am neither a Dem or Rep. Lost faith a long time ago.

  32. This is not a shocker to me. It is the same story I and so many freinds, relatives, customers and my children and myself are victims of. I try to inform everyone that comes in to my business with a long face. I ask them are you having mortgage problems It is always yes! We are dealing with sinister evil here. Not the norm at all. My daughter lost over a quarter of a million in income from just one of her small businesses (drywall) she did not get compensated for and her horse breedding business is in the toilet , caused by the bankster crimes. The judges are a huge part of this crime. My other daughter was laid off a decent paying job and her hours cut to half, at a low paying job. My son works for the same company that has cut the hours back to half due to the bankster’s economic crimes. My son is fighting his bank after modification fraud for his home. I am fighting my bank after modification fraud from my bank. My oldest daughter and her husband, I mentioned first above is living in my remodeled double car garage with her eight children and youngest daught with her two children , myself and my husband, whose small business has been harmed over a hundred thousand a year net, by a crooked mayor in this town and the banksters a doul kick in the pants. I dont feel I can cry about it because we are not alone. I cry for the family you just made this article about, I cry for the people who have killed their entire families over this and the people who have committed suicide over this. i cry for everybody effected by this, and I will do everything in our power to stop this crime. I have been a hard working american putting in over 16 to 18 hours a day in my business, getting four to six hours sleep working seven days a week , hardlly taking a vacation in our lives to keep my small business going over taxed by this government, a long time slave to this government, and I built my house brick by brick, board by board, with my and my husbands bare hands. ( or as my four year old grandson says Grandma built this house without gloves on). May God be with all of us. This is sinister there is no doubt about it.

  33. Anon:

    Thanks, yes that is what they pull alright.

  34. (aka McCarthy and Holthus, LLP)

    Note – read at the bottom of this post for “some weasel name dropping” the real rats, that many of you will recognize some of these vermin from your own experiences of infestation..
    “Quality Loan Service” (aka McCarthy and Holthus, LLP)
    “FNF”-Fidelity National Financial, Inc.
    “FIS”-Fidelity National Information Services, Inc.
    “LPS” Lender Processing Services, Inc.
    The Evolution of Infestation
    Western Title Insurance Company (now Fidelity National Title Insurance Company of California) traced its origin to C.V. Gillespie (founder), a notary public and searcher of records in San Francisco.

  35. Hi seniorauthor

    It is the servicer that passes through payments — until they deem “not collectible” — all is in control of the servicer. The servicer then reports to F/F. However, F/F have rule regarding 180 days — of no payments — then default. But, the servicer is the one to control what they feel is “not collectible” — and therefore will not pass-through if they choose not to — and, in effect, manufacture default.

    Here is how Federal Home Loan Mortgage Corp. (Freddie Mac) responds to issues in NJ courts regarding foreclosures — They write: “Respectfully, Freddie Mac is unable to provide the specific number of active loans its servicers are servicing in the State of New Jersey or the number of those loans that are in default because this information is proprietary and not available to the public.”

    Now — go look up “proprietary.”

  36. The courts and the official’s fear that if they let a homeowner get away with beating the banks, then all homeowners would line up at the court house steps, so it isn’t just about justice anymore.

    There’s no doubt about it that the banks are committing fraud upon the people, and the courts, but most judges are siding with them, and the government is paying for it all, oh with the people’s money. and the lawyers, well, they”ll go where the money is!!!

    Yes it’s atrocious and unjust what’s going on, its sad for our country to come to that point of lawlessness. Our country is run by criminals and hoodlums, our congress is bought and sold like cattle, there’s no morals, there’s nothing but greed!

    Yes it’s a sad day when a family like this one who are honest, hard working and struggling to make ends meet get treated that way, it’s not just sad, it’s in-humaine. Animals get treated much better in this country, you throw a dog out on the streets and see how many people yell fowl!

    Americans love to have fun, and wish not to deal with heartache, it’s too much to deal with. Just say a football game and hundreds of Thousands will line up for miles and pay any price to get in to watch. Mention a neighbor is being evicted and they turn the other way.

    I for one can do without another game as long as I live, or American Idle or crap they feed people with on daily basis. I know I”m not alone in this, I know that there are many people out there who care, but not enough do anything about it.

    I also know that it isn’t easy to get out there and fight for what we all believe in, because we all have to work many hours just to survive, but there are those who are out of jobs and those who do nothing. We are all effected by this, and those who are not will be one day soon. So what is everybody waiting for?

  37. Ask yourself, would the government tell the masses if a meteor was going to take a swipe at the earth, causing mass mayhem and possibly rendering it inhabitable?

    A similar situation exists with securitization. All of them, from the smaller banks to the largest governmental treasuries are addicted to securitization. They wouldn’t exist if it weren’t for the leveraging and swapping over and over again on everything that you and I do. They’re addicted to the massive profits like a crack head on the curb.

    But it goes deeper than that. Banks and other corporations aggressively insure a broad base of employees in what are called dead peasant life insurance policies. The premiums for this insurance are leveraged and deducted; in essence creating a transaction with little or no economic substance – the companies essentially put up none of their own money, but gathers significant interest deductions on the deal. We work and they profit. We die and they profit.

    They make money off of the sweat of our brow when we work in their economy, producing their goods that we raise and buy from them, with the money that they got from our treasury, and then they profit upon our deaths as well. It’s one big circle. The securitization model is predicated on us just doing our jobs and being quiet and then dying quietly as well. They profit whether we’re coming or going, living or dying. To them, we’re just a small part of their business model. It’s securitization that’s considered by these idiots to be too big to fail. And they’ll do anything to keep it going..

    So ask yourself….do you think they’d tell us if they knew that securitization was the problem? Or would they simply allow us to continue picking up pennies in front of their steamroller?

  38. Anonymous:

    Do you know if anyone has had an opportunity to look at the investor accounting system of FAnnie Mae? Fannie is supposed to pass through a payment even when the borrower does not pay. Are you saying that Fannie did not pass through any payments or that they did pass through the payments but the servicer when they received the trial payments held on to them. So if the borrower goes into default, Fannie in the meantime is passing through the payment, but when the trial payments are set up for a borrower, that the servicer hangs on to those? Do we not have two sets of books here or what and how do they control that?

    The $150 Billion that TARP gave them was so they could continue to pass through the payments until the borrower could reimburse them or the property was foreclosed.

    I have found that the transaction histories that I reviewed were posted to correctly showing the trial payments and the correct due date. But in reality, the money funded by TARP and made on behalf of a borrower was never updated on the borrower’s general ledger. What is the deal, because it had been, the borrower would not be delinquent and/or the trial payments would have been used to reimburse the pass through amounts that were sent to the investor.

    Glad you are on top of this. I have asked others about it but no one knew exactly how that $150 Billion was spent even though they called it operating expenses did they not, perhaps I amm wrong. In otherwords, the transaction history for the borrower is correct generally then because they always do reflect the breakdown of the trial payment and the due date here. In otherwords how is the investor accounting report going to show how the trial payments were posted. Did they get sent on or just posted and thrown into a corporate general ledger for the servicer so they could hang on to it or send it on to someone else.

    The tarp money if used to make borrower payments, and then passed on to the security investors, should have updated the borrower’s account. This is a mess. Can you help clear it up a bit as you can see we don’t have access to either investor reporting records.

    is critical even though the due date of the investor will show the borrower to be on time (or at least for the time being) until the decision to foreclose is made. This means to me that the servicer’s have confiscated off with all of the trial money paid – is that possible?

    This is really scary. Not sure I am stating this properly – give us some help on this. Appreciate it. I am trying to get out from under the rock. just kidding.

  39. Venue

    Do you have any idea how many people have called their senators, AG’s and the regulatory. I have had it out more than once with the regulatory and it was not a pretty picture. I have to give them credit, even after a couple of my tongue lashings in 2009-10, they still proceeded to ignore us advocates, took the sides of the banks and most surely could all of this have been done at the express request of the Congress and the Administration. The regulatory reports to the Congress.

    Now the OCC is getting rid of the complaints that were filed, some 9,000, I believe. Unfortunately, this is not the route to take, they just are now beginning to show a little consideration but that is all a ploy and nothing more. Been out there for the past 5 years and I can tell you, unless it is done on a massive basis by the people, you are going nowhere.

    A unified people suing the banks and making sure it gets to the Supreme Court is the only way unless people just elect to not do business with them anymore. Either way, it works.

  40. Assume Chase was the servicer and implication “Fannie” owned the loan. That would have made Fannie the “investor” (not security investor, of course).

    But, look at the time line in this case — Notice of Default usually goes out after 60 days. So, by the time October rolls around — 180 days in default — even though couple was making loan mod payments (these payments were not applied). Disposal of collection rights at 180 days. “Servicer” now acting for default collection rights buyers — not CHase — and not Fannie. And, not for security investors — as no payments were passed through to security investors — even though servicer was receiving by loan mod payments — does anyone really think they were “passing on” these loan mod payments?. At 180 days there is a NEW “investor” — who has been wishing and a hoping — and waiting — for any defaults he/she can get hands on. Nice profit to them.

    You think servicers advance loan mod payments to securities trustee — for a trust that has been buried and gone for years — with remnants held by the US Government??? No, servicers do not do that. Servicers’ goal is to manufacture as many defaults — as quick and fast as possible — so that collection rights can be sold and removed from “investors” books. That is the goal — to dispose of the fake mortgages to clean balance sheets.

    Is this story Chase’s fault? Of course, Chase is the servicer — who manipulates the default. It is always the servicer’s fault. But, we are dealing with junk debt buyers — they are the ones profiting by the foreclosure — they are they ones always waiting in the wings. They like to be called “investors.” And — they love 180 days.

  41. Sue the hell out of these banks for not modifying the mortages.

  42. Write your Senators to outlaw foreclosure and force banks to modify mortgages. Home wonership and a place to live on earth is a fundamental right.

  43. Have you started to see the fascist BS that is coming down? Our constitution is toast, and the banks do anything they want. Apparently, the sheriffs are in on it too. They expect you not to fight. Keep fighting. It is moving slowly in our direction. Keep fighting.

  44. […] Livinglies’s Weblog Filed Under: Foreclosure Law News, Foreclosure News Tagged With: crisis, foreclosure, […]

  45. Mandleman, as a movie, this story very powerful and will eduate consumers what to do to protect themselves. The foreclosurs are not ignored by borrowers, the robo-mills phone# on the SUMMONS the only point of contact for consumers who call and are instructed ‘don’t worry about it’ like this family was over and over. I’m sure the movie will educate that once a loan is in default, one late payments’ late fee’ can place one in default, depends on contrct, thereafter the agreement is broken. You make a new agreement verbally which is HAMP there is nothing in writing modifying the mortgage as an amendment, a ‘discussion’ is not binding with property. People need to know the truth so they can’t be lied too.

  46. @linda – you said:

    “One of the attorneys told us that if we were evicted he could get us more damages in a civil case.” I take it he encouraged you to let youself be evicted for this reason. If someone told me that, I would be filing a complaint with the bar association.

  47. I don’t know what the point of this story is, unless it’s to rile up emotions.
    While it’s a very sad tale of woe, it’s nothing new – these rat bastards do this over and over and over again to the American family. The same bums who forked over these HAMP funds need to retrieve them and put them in the hands of just about ANYone else to implement modification. It’s crap that families have to litigate over HAMP, even if a court here and there finds homeowners to have the requisite standing to complain about not getting a modification. What the heck kind of deal is that? The banksters got their stinking gazillion dollar bail outs, now give the homeowners theirs like you pretended to do. Single suit, class-action suit: bah! Give us the damn HAMP money back.

  48. California says sues law firms on national mortgage fraud
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    Housing MarketBy Jonathan Stempel

    NEW YORK | Thu Aug 18, 2011 5:15pm EDT

    NEW YORK (Reuters) – California has broken up what it called a ring of law firms that fraudulently induced struggling homeowners nationwide to pay thousands of dollars each to file mass lawsuits against their mortgage lenders.

    Kamala Harris, the state’s attorney general, said on Thursday she sued three law firms, four lawyers and 14 other companies and individuals who preyed on borrowers desperate to obtain mortgage relief.

    She said these defendants took advantage of borrowers’ frustration with lenders and servicers in a housing crisis now in its fifth year and which hit California particularly hard.

    “With the industry’s growing reputation for fraud and the legislative ban on advance fees for loan modification services, defendants saw a more profitable opportunity to sell lawsuits rather than loan modifications,” the state said in its complaint filed in the Los Angeles County superior court.

    According to officials, the defendants solicited homeowners in 17 U.S. states with at least 2 million pieces of mail and extracted retainer fees of up to $10,000 from each of roughly 2,500 borrowers to participate in “mass joinder” lawsuits.

    Harris said these defendants would deceive borrowers into believing their participation would help them avoid foreclosures, reduce their loan balances or interest rates, or even receive clear title to their homes.

    Instead, she said borrowers were often provided bad legal advice or unable to get answers to simple questions, including whether they were in fact added to lawsuits. A disproportionate number were black or Hispanic, officials said.

    Victims were led to believe the lawsuits “would be the way that they could receive justice,” Harris said at a news conference monitored via webcast. “The only people who paid were those homeowners.”

    California said its state bar seized the law practices and attorney accounts of the three law firms, which are all based in the state, and the four lawyers.

    They are the Calabasas-based firm Kramer & Kaslow and its principal Philip Kramer, who officials called the leader of the scheme; Costa Mesa-based Mesa Law Group Corp and its principal Paul Petersen; Walnut Creek- and Agoura Hills-based Mitchell J Stein & Associates and its principal Mitchell Stein; and the Encino-based lawyer Christopher Van Son.

    The lawsuit alleges violations of several laws and seek a halt to the illegal practices, as well as fines and other remedies. Kramer’s firm and some other defendants’ firms were put into receivership on Monday, Harris said.

    A call to the Kramer firm was answered by a recorded message. The Mesa law firm and Van Son did not respond to requests for comment. Stein’s office referred a call to the office of U.S. Sen. Dianne Feinstein. A spokesman there declined to comment.

    The case is California v. The Law Offices of Kramer and Kaslow et al, California Superior Court, Los Angeles County, No. LC 094571.

    (Reporting by Jonathan Stempel; additional reporting by Jeff Roberts; editing by Gerald E. McCormick, Matthew Lewis and Bernard Orr)

    U.S.MoneyHousing Market

  49. Same thing happened to us, only we were told by Wachovia/Wells that we had to miss payments in order to qualify for a modification. Of course, they proceeded to foreclose, then eviction. We hired two attorneys on two occasions at the end and both evidently worked for the other side…they were in cahoots with the bank’s attorney, one of them is the brother of the city attorney. We wrote to city attorney. Never heard back. We have to sue them to get our money back. One of the attorneys told us that if we were evicted he could get us more damages in a civil case. We were swiftly kicked out of our home. Our home sold right away for less they we owed.
    It’s all corrupt and criminal.

  50. Someone who is very knowledgeable about the banking system and its tenacles needs to write for the readers on this blog what would happen if the people simply failed to deposit their money in these banks. I am not saying that they should, but we the people need to know what affect that would have on the banks who intend to continue take these homes. The other 95% had best speak up before it is too late. Simply vote the Congress (except for those just newly elected in 2010) out, along with the current President. They have stood by while we the people lose everything that is important in our life and to our families.

    The shareholders in the banks and oil companies had best get a grip and direct their CEO’s accordingly. They too are supporting the actions of the banks and the oil company CEO’s with regard to the salaries. This must stop and now.

    WE need a good person in office and I am not relating that to either party. Just a good person who is knowledgeable and knows how to clean house and will shut those in the government down that persist in harming this country through their decision making processes which have failed everyone except the Congress and the administration. I am not talking about just this administration, they have all to some degree done things which helped get us where we are today.

  51. Great writing. However, I would like to correct one thing. Fraudclosure has been going on for over a decade. The likes of Fairbanks Capital, Ocwen, and Litton were conducting fraudulent foreclosures as early as the 1990’s. Heck, even the RTC used the Robo-signers – who continued to be Robo-signers out of DocX up until very, very recently. Anyone who has been fighting this fraud for any length of time knows that as early as 2003 the government was warned about what was going on and was told of the risk to the market and the American cities and states, as well as the American Citizens. They shut their eyes, and even cooperated with the servicers to protect them, knowing full well the extent and even the dollar amount of their fraud.

  52. The key must be article 3, prudential standing and civil criminal pleadings, I mean what more do we do to get the law to see what is going on.

  53. How about Terrorists on the attack. Or how about neo Nazis on the attack.

    I kind of take offense of Ghosts on the Attack. I like Casper the Ghost.


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