Banks Finally Get Academic Nod from at Least One Person

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EDITOR’S NOTES: It was only a matter of time before the Banks found someone – anyone – to say something in favor of the banks. And so they did: Todd J. Zywicki, Professor of Law at George Mason University School  of Law. Lest this thing get somebody’s shirt in a knot, allow me to comment:

  1. The University was originally established as part of the University of Virginia in the 1950’s and became its own University in 1972.
  2. He graduated law school in 1988 and has been a legitimate academic teaching at a variety of schools. He does have some ties with the Koch brothers so there is an issue of a political agenda.
  3. My first comment is that this is the best that the Banking industry could do to counteract the statements, facts and opinions of years of writing by myself and other people who are experts in securitization of debt, the mortgage process, the foreclosure process and litigation. Notably lacking from his resume is any work involving securitization, property law, civil rights or any work on any of the Amendments relating to the Bill of Rights. I can’t find anything ever written by him as a treatise or even an article. There probably are some, but I couldn’t find any.
  4. My first issue is the title he chose for his op-ed piece — “It’s Time to Finalize the Robo-signing Settlement.” He is dead wrong and intentionally misleading anyone who reads his article by using that title. This term robo-signing is being used to disguise the creation of pure fabricated documents and having them executed by surrogates who were forging the signatures of other people, all without the slightest knowledge of what was contained in the documents, and who were instructed to pretend that they were officers or authorized signors for companies they had never heard of — which was notarized by using the stamp of a notary in a far away place using again a forged signature for the notary with an attestation clause that “certifies” the authority of the person signing. All of this, in addition to the obvious perjury in foreclosure actions where sworn affidavits or testimony was elicited from people whose name was not even the name of the person proffered by counsel. My quick answer then is that it WILL be time to end the matter when a full investigation is complete, the persons who committed crimes are brought to justice, and the persons who committed civil wrongs pay for it. 
  5. Zywicki suggests that a settlement would bring about an end to uncertainty to the marketplace thus allowing, I presume, the market to recover. I do not agree that a settlement is a good idea just to bring certainty to the marketplace, if it means that injustice is brought to the doorsteps, literally, of tens of millions of households and hundreds of millions of pensioners and other people whose funds were used to fund the so-called securitized loans that were never securitized, transferred or sold. As for bringing certainty to the marketplace, it would do just the opposite. The professor is ignoring thousands of cases that were already settled only to come back and bite the title insurer, previous owner, previous lender, title agent, realtor and homeowners in the chain. A settlement of the issue of forgery and fabrication does NOTHING to correct the horrendous title mess created by the practices of the pretenders when they originated the loans and when they supposedly foreclosed on property using not faulty, but fraudulent paperwork. If he has any children, I wonder what he would say if he found out that one of his children forged his name to a note excusing the child from doing homework for the next month on account of having a rare blood disease. I can just picture how tolerant he would be when the child said that he should forget it because otherwise it will raise tensions in the house. 
  6. Zywicki brings up the hypothetical upkeep of the house. We already studied that and he obviously didn’t. The houses occupied by the homeowners are well-maintained whereas the ones owned by the banks are not maintained at all without enforcement. He states the reverse by suggesting that the homeowner has no incentive to maintain the house. Why not? And why do the homeowners maintain the house when it is the bank in “REO property” that is constantly avoiding its responsibilities of maintenance and payment of association dues. The homeowners maintain the house because they consider it their house and they are right. Bare legal title procured through fraudulent means in a deal where the forecloser had not one dime invested in funding the loan or purchasing the obligation is where the incentive to maintain the house is lacking.
  7. Then Zywicki turns his attention to money, about which I will meet him anywhere at any time. He suggests that allowing the homeowner to stay there bars someone from occupying the house who would pay. Pay who? If the real creditors were involved they would have long ago settled with the homeowners on terms far more favorable than foreclosure to the investors’ advantage. He is instead speaking up for the Banks who deceived the investors, deceived the borrowers and deceived the courts. I do believe that everyone has a right to counsel no matter how grievous the crime, but if that is the best he can do, the defendant may well appeal successfully on the basis of lack of competent counsel. Now he wants them to be able to keep their ill-gotten gains to the detriment of taxpayers who, so far, have ponied up $16 trillion to “bailout” the banks from what appears to be a loss (to the investors, not the banks) of $2-$3 trillion). So if the real parties in interest were present the homeowner would be paying some amount reflecting the actual balance of the loan, which is far less than the amount taken from the investors by those on whose behalf Zywicki speaks. But his “Clients” do not want the investors paid. They want to screw the investors to the wall and force them to accept pennies on the dollar while the Banks collect what is left of the advance of dollars by investors for loans that were never funded, thus accounting for the large bonuses his clients took asserting that the difference was trading profits. I differ. I call that theft. Let’s leave it to a jury to decide. Forget the settlement.
  8. Next, Zywicki brings up the windfall argument. OK, he is right. The way the Banks are playing this, by not giving proper information to the investors and lying to the borrowers, somebody is going to get a home free of encumbrances and free from the threat of foreclosure. But the homeowner may still owe money to whomever actually was the source of funds from which the funding of his mortgage was taken. And the homeowner has money invested in the home even if there was no down payment because of the expenses of upkeep and  whatever payments were made until the loan reset to more than the borrowers’ annual income thus guaranteeing failure of the loan based upon property values that his clients’ trumped up to the tune of more than 100% mark-up from actual fair market value, and in which they received huge profits and fees for playing this game. So the question, if he wants to put it this way, is who gets the house — the person who was duped into moving into and furnishing the house or a complete stranger to the transaction that has invested not one dime into the funding of the mortgage nor in the purchase of the obligation? Zywicki seems to think it is better to give the house to the thief. I disagree. Let’s leave that to a jury also. Forget the settlement.
  9. Zywicki then turns a phrase with a “Selective windfall” splitting those who are not paying from those who are still paying. It appears he is saying that even though the same crimes were committed on both sets of victims, the ones who haven’t yet realized they were shot, should not be allowed to look and see if they are bleeding. When the time comes for them to want to sell their homes or even refinance it they will discover they have incurable title defects, and then they too will be in litigation, refusing to pay any sum monthly or otherwise until there is a full and fair accounting of what the creditor received directly or indirectly by those who purportedly represent the investor.
  10. Zywicki glosses over the issue of correction of the principal due, ignoring the money received to settle or pay off the creditor, the money received by agents of the investor who didn’t bother to report the receipt, and the appraisal fraud that started this entire affair. He suggests that nobody is injured when a home is taken from its rightful owner by a party who has no right to the home, the loan or anything else connected with the transaction. I disagree. Let a jury decide. Forget the settlement. 
  11. Zywicki goes over the top when he says there are no victims. These financial service giants took down the entire economy and the world with it. OK, they didn’t create a mass extinction event, so we are alive to argue about it, but there is hardly more damage that could have been wrought than by these thieves and their efforts to cover it up with forgery, fabrication and fraud. I think a jury would agree. Forget the settlement.

hmmmm. Now that I think of it, it seems unlikely that a learned man like Zywicki could have fallen into all the traps outlined above. Perhaps someone else wrote his article. Perhaps he signed it without looking at the terms. Or maybe he never signed it at all, leaving that to some $10 per hour clerk to stamp his signature purloined from an infinite reservoir of stamps and signatures at LPS. I wonder how he’d feel if he learned that was what happened to his reputation. No damage? No victim? No problem?

Academic SHILL goes all SHRILL for the Banksters in Forbes Magazine | OP/ED It’s Time To Finalize The Robo-Signing Settlement

Posted by 4closureFraud on October 17, 2011

Professor Todd J. Zywicki

George Mason University School of Law

3301 N. Fairfax Dr.

Arlington, VA 22201

Email: Tzywick2@gmu.edu

Phone: 703-993-9484

Fax: 703-993-8088

Web: http://mason.gmu.edu/~tzywick2/

It’s Time To Finalize The Robo-Signing Settlement

Some notable quotes from the OP/ED

After months of wrangling, a multi-state settlement of the mortgage foreclosure “robo-signing” fiasco finally appears to be at hand that will punish banks for these seemingly-careless foreclosure practices, and break the litigation logjam that continues to drag down a housing market recovery.  Like most settlements nobody appears to be overjoyed with the terms: Banks view it as a shakedown by politically ambitious attorneys general across the country, and other critics think it too light.

Settlement would bring the matter to a close and eliminate the continued uncertainty that plagues the housing market.

It has been a year since the initial discovery of the robo-signing fiasco came to light.  During that time, the average length of time it takes to foreclose on a home has skyrocketed.  According to LPS Analytics, as of August 2011 the average home in foreclosure today has been delinquent for an average of almost two years, 50% longer than before the robo-signing scandal came to light.

During the period the home is in foreclosure the borrower need not pay the mortgage and has no incentive to invest in upkeep of the property.

Most important, of course, allowing the non-paying resident to occupy the house indefinitely prevents it from being owned by someone else who will pay.

Moreover, while it is completely appropriate and necessary to punish certain mortgage servicers for abuses, this does not justify turning their deficiencies into a selective windfall for homeowners who have stopped paying their mortgage while withholding the same benefit from the millions of underwater homeowners who have not.

The balking Attorney Generals’ calls for still further write down of principal is especially misplaced in light of the almost complete absence of any homeowners who have actually been injured by robo-signing, and who would thus be entitled to damages.

At its worst, robo-signing is not an issue of whether someone has the right to foreclose—the borrowers invariably admit that they haven’t made payments in months or years and have no intention of trying to bring their payment up to date—but which of several parties have the right to foreclose.  That’s a problem that needs sorting out, to be sure.  But the virtual absence of real victims makes it highly unlikely that delinquent homeowners will receive more in court than they could under the proposed agreement.

But for a year now, class-action lawyers, attorneys general, reporters, and housing advocates have searched in vain for multitudes of wronged homeowners and have come up largely empty-handed.

You can check out the piece in its entirety here..

If you disagree with Todd J. Zywicki on any of the points above, feel free to contact him by any means below…

I wonder how much he gets paid to write this crap.

~

Professor Todd J. Zywicki

George Mason University School of Law

3301 N. Fairfax Dr.

Arlington, VA 22201

Email: Tzywick2@gmu.edu

Phone: 703-993-9484

Fax: 703-993-8088

Web: http://mason.gmu.edu/~tzywick2/

36 Responses

  1. Everyone should send Zywicki letters, emails, and faxes of our foreclosure documents, robosigned assignments, and such. Send him pictures of your foreclosed home. bury him and the University with paperworkand mail. Lest they forget.

    Professor Todd J. Zywicki
    George Mason University School of Law
    3301 N. Fairfax Dr.
    Arlington, VA 22201
    Email: Tzywick2@gmu.edu
    Phone: 703-993-9484
    Fax: 703-993-8088
    Web: http://mason.gmu.edu/~tzywick2/

  2. Maher,
    You said some very interesting things here:

    “The Monopoly “note” is executed by Hillbilly Jim of the Cry baby Cannon Ball Kentucky Bank. The counterfeit is reproducing the signature of the secretary of the treasury. Where the name used is not intended by the maker to designate any “real” person bearing that name or any other person, “the instrument is payable to the bearer”. . . .

    When it is payable to the order of a fictitious or nonexistent person and such fact was known by the person he is so making it payable to himself.

    Parties to the transaction are alerted to this fact by the absurd and exceptionally artistic nature of the initials and or short form signature done with rather large looping Initials. Where that represented to exist is in fact not what is portrayed the forgery or falsified document has no merit , nor does the forgery .

    You need to have worked in the secondary, or on the inside you would not know how these things work. What they do is not a securities fraud whatsoever. What is a fraud is what they do to revert back to a mortgage loan and in trying to make fit the state and federal regulatory requirements for a lawful foreclosure. ”

    Can you expand on that a little further? Specifically this sentence: “When it is payable to the order of a fictitious or nonexistent person and such fact was known by the person he is so making it payable to himself.”

    I think I follow what you’re saying here,,,Or not. What you seem to be saying is that if someone creates a note payable to the order of a fictitious/nonexistent person, and the creator of said note knows that the note is payable to a fictitious/nonexistent person, the note creator is making the note payable to himself. I think that’s what I get. Just if you get a chance, could you explain what you’re driving at a little more?

  3. Hope Mr. G doesn’t mind: gonna borrower his venue a minute por favor.
    I just read a decision at stopforeclosure fraud (aurora v toledo, bernice) wherein one Laura McCann executed an assignment for “MERS” to Aurora. Ms McCann is a liar for hire. She is not an employee of MERS; she is an employee of Aurora and often signs docs as an Aurora v.p As far as I can tell, that woman would sign anything, including her own death certificate if she thought it’d do her some good. Not only is she a Big Fat Liar, she is dumb enough to have signed declarations for Aurora filed concurrently with an assg’t dated in 2009 wherein she swore the assignment was done in 2006 in another case. If you have been a victim of Aurora by way of ms McCann, get thee to a lawyer because anything she signs can be assassinated.
    We have to put a stop to these self-assignments done under cover of MERS. MERS has to go.

  4. Go into a 7-11 and purchase a six pack of coca cola using monopoly money .
    A) Your arrested
    B) Your held and questioned
    C) Your held for questioning by the Secret Service
    D) Your covered in vomit from the sales clerk laughing at you

    D) No harm no foul. . . It monopoly money and the clerk has a duty to know that .

    Now go cut and paste together a color reproduction of a $1.00 bill and ask for four quarters at your local 7-11 .

    . C) The Secret Service are there in minutes to arrest you and your doing lots and lot’s of time.

    The Monopoly “note” is executed by Hillbilly Jim of the Cry baby Cannon Ball Kentucky Bank. The counterfeit is reproducing the signature of the secretary of the treasury. Where the name used is not intended by the maker to designate any “real” person bearing that name or any other person, “the instrument is payable to the bearer”. . . .

    When it is payable to the order of a fictitious or nonexistent person and such fact was known by the person he is so making it payable to himself.

    Parties to the transaction are alerted to this fact by the absurd and exceptionally artistic nature of the initials and or short form signature done with rather large looping Initials. Where that represented to exist is in fact not what is portrayed the forgery or falsified document has no merit , nor does the forgery .

    You need to have worked in the secondary, or on the inside you would not know how these things work. What they do is not a securities fraud whatsoever. What is a fraud is what they do to revert back to a mortgage loan and in trying to make fit the state and federal regulatory requirements for a lawful foreclosure.

    expert.witness@live.com

  5. You think this jerk is clueless, look what just rolled off the presses.

    http://news.yahoo.com/foreclosure-deal-near-banks-win-more-immunity-214625588.html

    We need to boycott this IMMEDIATELY!

  6. OMG ~ I never had a favorite Super hero growing up as a child, but as of RIGHT NOW, Captain America, you are my hero. I will copy and print what you have said here onto a plaque and use it as my families personal slogan from here on out. Thank you. You made my day.

  7. Left out one significant part of the quote–here’s the whole thing:

    “Doesn’t matter what the press says. Doesn’t matter what the politicians or the mobs say. Doesn’t matter if the whole country decides that something wrong is something right. This nation was founded on one principle above all else: the requirement that we stand up for what we believe, no matter the odds or the consequences. When the mob and the press and the whole world tell you to move, your job is to plant yourself like a tree beside the river of truth and tell the whole world–‘no, YOU move.’” –CAPTAIN AMERICA

  8. http://neweconomicperspectives.blogspot.com/

    Music to my ears: Black advocates to fire Geithner, Dimon, Bernanke and to prosecute them along with Paulson and a few other ones under RICO.

    It’s also my take on it. Nothing to do with politics. Everything to do with honest v. dishonest. We’ll get there…

  9. “Doesn’t matter what the press says. Doesn’t matter what the politicians or the mobs say. Doesn’t matter if the whole country decides that something wrong is something right. This nation was founded on one principle above all else: the requirement that we stand up for what we believe, no matter the odds or the consequences. When the mob and the press and the whole world tell you to move, your job is to plant yourself like a tree and tell the whole world–‘no, YOU move.’” –CAPTAIN AMERICA

  10. Keep it Going “Occupy Wall Street !”

  11. Senator Bernie Sanders ” Gets It !” Now these other crooks need to be jailed..

  12. Fire the Fed Chairman

  13. Wall Street greed kicked home owners to the Curb

  14. People—don’t you see the truth—please read VERY carefully what tony wrote:

    tony, on October 17, 2011 at 6:57 pm said:

    “It is “unsecured” debt protected by smoke and mirrors. What makes it funny is that it isn’t even unsecured debt. Unsecured debt is when you at least owe someone money. These servicers are not even owed any money, they are just hoping they can get something from you.
    I was at a hearing the another day and the judge asked the “banks’” lawyer does the servicer have standing? They said no, then she asked can they join the “real party in interest”? Lawyer said no, the judge shook his head and hoped that the pro se didn’t hear that.
    Of course the pro se did and he said can we end this case now, I think I won on the issue of standing and real party in interest plus lack of subject matter jurisdiction. Judge said yeah I think you did. Denied the banks (without prejudice of course). Then the judge asked for the so called note that they had. Lawyer said no you can not get my note, how will I foreclose he said you know it and I know it that’s not going to happen. Banks lawyer said but we have the note we should be able to move. Judge said you can’t even get pass jurisdiction first much less talk about notes.
    It was a funny case, after the case the judge closed out the rest of the docket he was so mad. So in short always bring up jurisdiction first before you even get to your other areas of defense.”

    To Disgusted in Texas—they are not “mortgages”…never were…only “collection rights” transferred/assigned at closing.

    WE ALL HAVE TO START DOING WHAT TONY IS TALKING ABOUT…call them on their lies..and KEEP FIGHTING BACK!!

  15. Trust Me! There are Victims! And the Illinois Attorney General has the Proof in her hands. MERS was a vehicle used to hide the Biggest Fraud against the American People Ever. We are NOT in forclosure … but we do have 3 liens on our Title for the SAME origional mortgage. (no refi’s.. no 2nd mortgage). We can not refinance for the lower rate .. we can NOT sell. We are in triple Jepordy of paying our mortgage .. and we still will not get clear title. DON’T SIGN A LOAN MOD OR REFI UNTIL YOU HAVE CHECKED YOUR TITLE AND READ THE NEW TITLE POLICY. MERS and the chain of assignment on title is EXCLUDED from the new policies!

  16. Anyway, Zywicki is a lunatic. Dignifying what he wrote is a waste of brain cells and giving it any weight is a waste of time and energy. Anyone with half a brain knows that servicers have treated homeowners extremely poorly, have created artificial defaults by losing mortgage payment on purpose, have pushed homeowners who were paying into foreclosure. It all started when the economic and financial experts decided that everyone was entitled to a house and when they decided to ignore all due diligence and prudence in underwriting mortgages in order to allow unbriddled speculation. I haven’t read the article and I don’t intend to. I know no one who reads Forbes Magazine and the future of those publication is quite uncertain anyway: when people don’t have enough food, they won’t buy magazines.

    For every Zywicki, there is a Garfied and a Mandelman. The truth has already been exposed. Ignoring it only proves the guy is a certified moron. Anyone sending his kid to the university he teaches in should run there and demand a refund immediately!!!

    Something much more serious is going on that should be given its proper importance: Homeland Security is adding manpower to NYPD.

    OWS will become violent and bloddy.

    http://www.alternet.org/story/152770/wall_street%E2%80%99s_second_occupation%3A_the_rise_of_the_nypd%27s_homeland_security_state?akid=7732.318294.JyPy9s&rd=1&t=3

  17. sorry, that didn’t work.

    here is market ticker clip on William Black

    http://market-ticker.org/akcs-www?post=196146

  18. One more thing TODD;

    I am in contracting and in 2008 2 months prior to my present situation began I contacted BOA and asked them what I could do as the phone had stopped ringing for my work and I was concerned about being late on my mortgage of $676.80. I was told, we cannot help you unless you are 2-4 months late and in danger of default. My response, with a credit score at that time of 820 was well if I do that who will take me, my credit is ruined. They said “don’t worry at that point we can help you, so don’t make the payments and call us back and we will send you a modification package”. Well, needless to say, they sent one and I called 2 months after sending it back, as they said it would take 2-3 months to process, they told me they never got it. By the way, it was sent FedEx…this was done 5 times. So now I call and ask to make the payments in 2 segments. At this point, I am in arrears with fees and such for $5200, which I am willing to pay…$2600 in the current month and $2600 next month. The response was: an emphatic no! However, we can offer you a forbearance plan of $1570 per month ($28,260.) for 18 months and then if you are on time we will “consider” a modification. Needless to say, I said NO! Now after 2 1/2 years of emails, certified mailings, threats, lawyers, etc…I have filed a Quit Title and Fraudulent Conveyance complaint, Pro Se. It’s daunting and I am concerned even the judges are not sophisticated enough to handle this issue. After doing hundreds of hours of research, finding the pooling and service agreements, the fraud is obvious. How I put it together and prove it is quite another. So, Todd, there are thousands of players in this cover up and I hope it is only a matter of time before the real criminals are charged, as I would have been had I done this.

    Neil keep on coming, the information is out there and the citizens need a fighting chance! I could not have gotten this far without you, win or lose at least I am fighting, that’s all I have!

  19. @ Enraged….. look up who owns Forbes Magazine and you will no longer be incredulous at the lack of true reporting they do. And as long as the bulk of our media are owned by these corporate moguls and Zionist banking families, you will never, ever hear the true story. In fact, when you do read an article like this, just reverse everything they espouse to be true and ONLY THEN will you see what the truth is.

  20. “The balking Attorney Generals’ calls for still further write down of principal is especially misplaced in light of the almost complete absence of any homeowners who have actually been injured by robo-signing, and who would thus be entitled to damages”…. “But for a year now, class-action lawyers, attorneys general, reporters, and housing advocates have searched in vain for multitudes of wronged homeowners and have come up largely empty-handed”.

    Do you guys ever think: “Jeez, I really, really, really believe in free speech but some people ought not to have that right?” Who among you buys Forbes Magazine? Anyone?

    Boycott Forbes Magazine!!!

  21. Hey Todd,

    You are full of baloney. Settlements to whom? The pool of investors could be average folks who lost their money. The “Master Servicers” are able to foreclose and keep the proceeds, when they have the contract in the PSA to buy or replace the mortgage? This is not going to be fixed with any flimsy agreement, as the proceeds that rightfully belong to the investors and have been stolen and the chain of title has been broken and in some cases the trusts do not exist.

    In all reality, the home owner has NO CONTRACT with the servicer and the servicer has no right to foreclose, they have the contract with them not the homeowners. Even if only one of them, the investor(s) comes forward, this is who the homeowner pays/owes. This fraud is massive and I cannot believe how many agencies and people have covered this up. No negotiations, none! They all belong in jail.

  22. Mr. Zywick,

    You need to get your head out of your a$$. The facts remain clear this is based upon robo signing, false appraisals and massive foreclosures. The industry was stacked against the buyer in which they had no protection from the fraud. Many people living in neighborhoods are upside over $ 200,000. The home owners will not pay on something that does not exist. They have no choice but to be kicked to the curb.

    Get lost you worthless S.O.B.

  23. I’m suggesting that the professor is being less than honest, and ignoring facts. Conflict of interest perhaps?
    If he has a car, he could drive to Sterling or even closer in Arlington and see the damage predatory lending has created. Instead, his motivations for ignoring harm should be questioned.

  24. Mr. Zywickis next response to Still Disgusted in Texas (much to his credit):

    I’m sorry to hear of your situation. Obviously I can’t understand all of the details of your situation but if the facts are as you represent it sounds like fraud to me.

    Todd J. Zywicki
    GMU Foundation Professor of Law
    Editor, Supreme Court Economic Review
    George Mason University School of Law
    703-993-9484 begin_of_the_skype_highlighting 703-993-9484

  25. Oh — I will email him alright —

  26. Disgusted in Texas reply to Mr. Zywicki

    Mr. Zywicki,

    Since the list of items I mentioned seems of no import to you, let me give you one last example of how homeowners are being directly damaged, me in particular.

    In February of this year, the servicing entity that supposedly holds my note decided to increase my payments on my note to the tune of $900 a month. This is on a FIXED rate note, and this more than doubled my payments. When asked how they could possibly do this, they stated they were imposing escrows on a NO ESCROW
    note. I have paid my own taxes and insurance on my property for the ENTIRE twelve years that I have owned it. Our own state attorney general and several other state attorney generals have issued orders to this entity to Cease and Desist their fraudulent
    collection practices (and make no mistake, they are not a mortgage company, they do not hold your note, and they do not have any jurisdictional standing to foreclose) as a COLLECTION AGENCY.

    And yet they persist. And thousands if not tens of thousands
    of homeowners are experiencing this RIGHT NOW and being evicted through this fraudulent practice. And it ALL BOILS DOWN to FALSE AFFIDAVITS transferring servicing rights to entities that have no right to impose ANYTHING. The ONLY way they can even assert that they do have a right to do so to the courts, is by creating ROBO SIGNED falsified and fraudulent documents ~
    which judges mistakenly accept as legal documents and then allow this travesty to happen.

    After spending literally hundreds of dollars in certified mail and overnight packages to this servicer with NO response to our requests and NO compliance with state & federal regulations, I had decided that instead of fighting them, maybe I should consider
    selling my property, as I have a thyroid disease that is directly affected by stress and my symptoms were becoming unmanageable even with my medication, due to the daily battle that I have had to face since this past February. A battle that has cost me my health, my peace of mind, and considerable financial resources.

    So when I contacted a local title company that I have done business with for over ten years to get my payoff, it took months of continuously requesting it, and then when we finally did receive the payoff doc’s, the “assignment” to Deutsche Bank was signed by the infamous Bryan Bly and this title company (that I knew for years)
    refused to issue title on my home. So now even if I want to sell my home, in good conscience and legally I cannot give a clear title to the buyer.

    So now I am stuck fighting with the servicer, paying $900 a more per month than my Deed of Trust stipulates and NO ONE can produce a properly executed assignment or recorded Allonge or affidavit. And to prevent this from causing me to foreclose,
    I have had to hire an attorney ($5k retainer) pay for certified mail and express mail and court filing fee’s ($1,200), spend countless hours researching how this fiasco has robbed me of a clear title on my home, and countless sleepless nights wondering how all of this is going to work out.

    And just so you know, in twelve years of ownership on my home, I never had any issues paying my mortgage payment, thank you very much. So for you to so smugly state that it is a victimless crime, is either because you too, are in the bankers pocket or you are simply ignorant. So PLEASE do not dare tell me that I and countless others have not been victimized by their greed and fraud and negligence. And if you still “don’t get it”, then there really is little hope for enlightening you.

    Signed,

    Still Disgusted in Texas

    cc: Neil Garfield

  27. This was Mr. Zywickis response to Disgusted in Texas:

    From: Todd Zywicki
    Subject: Re: Your Forbes Article

    So you are saying that there are all these people out there who are paying their mortgages on time every month and yet are being foreclosed on? If not, then I’m afraid all this huffing and puffing really doesn’t say much at all. It says that the mortgage servicers did bad things and should be punished for all the reasons you say. But it proves nothing at all about individuals who were harmed by the servicers’ fraud and incompetence.

    Todd J. Zywicki
    GMU Foundation Professor of Law
    Editor, Supreme Court Economic Review
    George Mason University School of Law
    703-993-9484

  28. Here’s an interesting situation with my friends at Phelan Hallinan:
    The Ron Dziewit stake out and foreclosure. I included it in this post as I go in today to speak with Nashua Detectives about the forgery in my case.

    http://mortgagemovies.blogspot.com/2011/10/as-kingcastmortgage-movies-heads-off-to.html

    TUESDAY, OCTOBER 18, 2011

    As KingCast/Mortgage Movies heads off to Nashua PD today remember this: There have been zero prosecutions of corporate officers for forgery or robo-signing mortgage documents.

    Meanwhile ponder the foreclosure situation of Ron Dziewit, the West Norriton Man who will not be charged for his standoff. Watch his video….. he is a Veteran who tried to do the right thing but who was facing the scumbag law firm of Phelan, Hallinan & Schmieg, who unlawfully called the police on an innocent homeowner and Yours Truly got that on video. So naturally I sent Mr. Dziewit this case showing how Phelan Hallinan and Citi got spanked by the Administrative Process in a foreclosure action, Citi v. Paules York Cty. 2011-SU-1542-06. I’m going to say it right up front: Some of these courts and judges might as well be getting direct payments from the banks for all of the “Justice” that they dispense. And that is precisely what the 99% ers are all about. We may be tired, but we are indefatigable.

  29. i already wrote him like everyone should we need people on our side non against us he thinks i didnt want to pay mortgage???? this guy does not know whats happening because it is not happening to him

  30. My Response to Mr. Zywick (emailed 10/18/2011)

    Mr. Zywick,

    After having the great displeasure of reading your article on Neil Armstrongs website, I felt compelled to write to you to perhaps give you another “slant” on your supposition that you posed by stating the following:

    But the virtual absence of real victims makes it highly unlikely that delinquent homeowners will receive more in court than they could under the proposed agreement.

    I am a licensed real estate broker and former mortgage broker in the state of Texas, which remarkably even still has some semblance of a “real estate market” since your darling banking institutions created these so called “securitized asset” and “Derivative” products.

    Since late 2007 my business, my brokerage and my income have become almost obsolete. I have watched as dozens of my constituents have closed up shop, moved away or also lost their homes to some “pretender lender” or a Asset Backed Securitized Trust that their loan could NEVER EVER have been placed in because the transfer of that loan was’nt even done until they missed
    their first payment (some of them have been in their home 10+ years, like me) into a Trust that had been CLOSED for YEARS.

    Not only has my income and my career options been completely obliterated, but knowing what I know now, I could NEVER, in good conscience, sell someone a property that cannot possibly be issued a clear title. And while the bankers are now slipping documents into closing papers that state that the buyers agree that
    if someone does come back against them for the property claiming the title is not clear, that the current buyers give up ALL claims and right to sue the banks. Really??? WTF??

    Now why do you, as a learned scholar suppose they would feel the need to do this? And if these poor misguided souls do sign these documents and someone comes back with PROOF that they were wrongfully foreclosed on, would you still say there are no victims, Mr. Zywick? Because I can GUARANTEE you that this is what is coming down the line. And titles to over 62 million homes and as many families are what we are talking about here.

    So while you purport to claim that all this “robo-signing” really has no victims, I submit to you that it most certainly does and the string of victims is as long and deep and wide as from any war ever waged on us, as Americans. And make no mistake ~ this has been, and is still an out and out WAR. A war against the middle class and
    a war against home owners, the backbone of our economy. And because of this war, we have lost a once thriving economy, we have lost entire Job Sectors, people have committed suicide, families have been seperated and lives have been destroyed
    all due to this RAMPANT fraud that was caused DIRECTLY by this so called “victimless” securitization and subsequent robo signed, fraudulently recorded documents granting ownership of someones life blood, sweat, time, money and time over to banking entities that not only have no skin in the game, but that have already collected on that property multiple times through the process of securitization.

    This does not take in to account all the MILLIONS of dollars that our countries county clerks offices lost due to the creation of MERS which was the system that mandated the need for the banks to start creating false and fraudulent robo-signed documents initially anyway. Ask any of our county clerks offices or register of deeds if they feel like the loss of ALL those fees for properly recording the transfer of a properties Deed of Trust or mortgage is of small consequence to them. Ask them if they feel that this fraud is a victimless crime? Please… ask them!!

    You need to do your homework son, because you are so far away from the truth of this matter, you might as well call this article a work of fiction.

    Sincerely,

    Disgusted in Texas

  31. One question:

    Is “The Settlement” in fact imminent?

  32. Neil,
    Fight fire with fire. Take your comments above, and fashion a response op-ed to Forbes.

  33. Disqualify my comments – I don’t care- Just don’t change your testimony this late in the game and jump on the accounting rules and government role.

    Please …you picked your horse and discarded my input…Stay the course and so shall I ..

    . Okay

  34. EDITOR . . . .He is dead wrong and intentionally misleading anyone who reads his article by using that title. This term robo-signing is being used to disguise the creation of pure fabricated documents and having them executed by surrogates who were forging the signatures of other people, all without the slightest knowledge of what was contained in the documents,

    Expert.witness@live.com– Where the name used is not intended by the maker to designate any “real” person bearing that name or any other person, “the instrument is payable to the bearer”. . . .when it is payable to the order of a fictitious or nonexistent person and such fact was known by the person he is so making it payable to himself.

    Parties to the transaction are alerted to this fact by the absurd and exceptionally artistic nature of the initials and or short form signature done with rather large looping Initials.

    Where that represented to exist is in fact not what is portrayed the forgery or falsified document has no merit , nor does the forgery .

    You need to have worked in the secondary to know everything they do to scre you . If your were never on the inside you would not know how these things work.

    You are therefore guessing as to what is enforceable and what is not.

    expert.witness@live.com

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