What happened to Joe Nocera?

Sometimes you just have to wonder. Nocera has been an excellent, even if somewhat reluctant investigative reporter who brought almost as much daylight as Gretchen Morgenstern. Like others reporting on the mortgage mess, he has not yet attempted to quantify or even describe the financial damages to investors and homeowners, much less the total financial damage to our society. The amount of damage, as anyone knows, is hidden behind layers of denial and attempts to distance the banks from their own behaviour.

Which is why I don’t understand Nocera in his article “3 Cheers for the settlement.” if we know anything, it is that at least $17 TRILLION has been spent, that we know of, repairing the damages caused by these banks. So why is Nocera saying that prosecuting the banks for intentionally causing these damages to all of us would not be productive? Who got to him? And why is 1 cent on the dollar a good deal?

Why does Nocera assume that it will take years to prosecute? We already half the evidence we need. why does Nocera assume that the threat that the banks to stop negotiating would be a bad thing? Why does he assume it is anything other than a bluff?

And why does Nocera now write that the settlement represents more monetary relief to homeowners than they could ever hope to get in court? Really? When did Nocera quantify the damages? in which article? if he doesn’t know, why pretend that he does know (and we know he Lacks the information to compare the value of a settlement that has not been finalised with the $17 Trillion we already know about).

Or is this another swipe at borrowers — echoing the latest lines from the bankers’ playbook that these were innocent victimless crimes? Explain to our audience how falsely inflating the property value, false statements in the mortgage documents, false statements in the mortgage bond documents causes trillions in damage without victims. please ! Explain how collecting multiple times on the same debt creates no victims. explain why homeowners should lose title and possession to a house in which they poured their heart and soul — even after they paid the illegal debt multiple times with their tax dollars, their pensions, and their credit reputations.

152 Responses

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  3. chris

    Yes. That was the purpose of the “Deal.” Look, settlements are made all the time, but THIS settlement was a give-away. No where near addresses the wrongs.

    Cheaply gave away the victims.

  4. The link Enraged posted yesterday is as close as we’ll get to righting the wrongs that go all the way to the top officeholder and his owners. We either swallow the medicine and kick them all out, or continue to complain until that right is taken away as well.

    The 99% Declaration

  5. @ Abby

    You know the attorneys, are selling themselves and allowing the banks, servicers, originators, etc…to practice law without a license, using theirs to do “unforgivable atrocities” to the public.

    For me, every piece of paper I read is a lie, the Felony behavior is clear and evidenced in every document. I have been saying for some time, the lawyers have created the paperwork necessary to do this and enabled, assisted and covered the “illegal” behavior…they are absolutely “complicit” in this scam.

    “nuff said!

  6. CA Laws Regarding Attorney Solicitations and Link for other states—-


  7. Hmmm… do I smell a sellout? Hosea Anderson (i.e. Anderson v. Burson) and I will never sellout. The documents are all linked herein:


    TUESDAY, FEBRUARY 21, 2012

    KingCast and Mortgage Movies see Anderson v. Burson change Maryland’s law on unlawful, fraudulent foreclosures but in the end they got screwed anyway.

    Here is your back story with video and the Motion for Reconsideration, wrongfully and cryptically denied on 16 February, 2012.
    21 Feb 2012 update:
    Even though new, reported cases over time will show that the Andersons’ case changed the law in Maryland, they were denied any and all benefit of the decision and the Court basically screwed them over, royally by merging the Deutschebank entities and falsely stating that the Andersons acknowledged that one of these entities held the original documents. Read the Motion for Reconsideration as filed, below. Here then, is the cryptic decision and the order of costs to boot:

    Says Mr. Anderson:
    “They lied to the Bankruptcy Trustee and to the Court…. It was just a servicer at the onset, Saxon. Deutsche was nowhere around…. There are two different Deutsche entities, after a while they claimed it was Deutsche America — but it wasn’t…. They then filed a bogus allonge some 9 months later, saying it was Deutsche National.

    “Now they have already sold the house and ratified this, but they have made the same mistake all the other courts have. The Court of Special Appeals and the next court have both issued wrong opinions, so they are going to have to address that. We’ve got them all in a box, they can’t issue contradicting affidavits in BK and in the Court of Appeals.”

    Meanwhile see Mr. Anderson’s artwork relative to the new George Lucas film “Red Tails,” concerning the legendary Tuskegee Airmen. New York Times Magazine preview, New York Times review. Mr. Anderson and I are both intelligent, strong and proud black men and we will keep pushing for Justice….against the odds….. for All.

  8. @ Anonymous

    That’s probably the big win for them, secrecy about the “back door” dealings.

  9. People should not mind too much going to court to bat for themselves, as the Settlement allows. But, before they can do that, the government and DOJs should make all records AVAILABLE. Deregulation allows secrecy, and the DOJs and government know that people do not have access to the records they need.

    “Proprietary Information” and “trade secrets” is a likely “defense” to discovery. Unravel the hidden documents and we can fairly go to court ourselves. The Settlement keeps those records sealed.

  10. @ Enraged to Trespass

    Correct you are, go get ’em….So, trespass, if anything bad ever happens to me, I must be responsible, right? If my Toyota speeds off the highway and my family is killed, it is my fault, because I did not have the entire car examined, at my cost, to ensure it is mechanically sound. In your scenario, we should dump all the civil and criminal rules of law, ’cause we are at fault, for not making sure, everyone is competent, truthful and they are who they say they are. Does that about cover it?

    For me, it is a moot point right now, if everyone bought houses they couldn’t afford. It affects everyone of us, as the banks had a choice about how they handled the situation. Foreclosing on millions has dumped every home value in the country, even those who don’t have a mortgage. Is this what you do to innocent people? And when did I or anyone else, get to make up appraisals, credit worthiness, prices of real estate, terms of loans and interest rates?

    The fact is, if you go into the free market (Ha, Ha, Ha,) and want to buy anything, you pay the prevailing price, e.g. food, gas, insurance, electric, and so on…if no one is willing to pay, you have no market for the goods and services. PERIOD! Footnote: If no one bought houses at the inflated prices, this would have happened back in 2006…No offense intended, but really Trespass?

    My $.02

  11. Can anyone put together some kind of a recap on which government agencies participated into this greatest financial scandal ever visited upon manking?

    Obama’s resistance with investigations tells me that we are all missing something very important and that our tax money is where the problem first started. Banks and Goldman Sachs only took advantage of the situation but I am growing increasingly more convinced that it all started with our own public servant (and has little to do with deregularisation. Deregularisation was the means. There is something more to the whole thing.)

  12. Why isn’t anyone looking at the major lenders off-balance-sheet residual portfolios for all Ce Securitizations. Moreover, the NIMS residuals clearly show who owns the ;loans, who is responsible to collapse the pool, and who clearly changes the discount rate to push out clean up call dates.

    The parent company of the seller-bank owns the notes, and as the market continues to improve for MBS, you will see many a hedge fund foreclosing on our neighbors homes.

    The FDIC, as the receiver owns the notes on the PPIP and drains the pool cash flow same as fully private corporation. What we truly need to be frightened of in this country; what happens when the FRC starts to trim its balance sheet through a reverse repo facility on its MBS holding. They are ready to collapse the pools on some of the earlier securitizations they own, and need the monies to facilitate the next MBS purchase, so they can wind out the short-end of the transaction, accelerate the discount rate and collapse the next round of holdings.

    In any event, The Seller bank owns the residuals on the Notes, and depending on the UPB of the pool becomes the debt collector immediately after the pool is collapsed.

    They hold the NOTES, all of them!

  13. For amusement, check out this link:
    Apparently Fannie Mae employees were in a “Help the Homeless 5K in. 09–they raised $40!

  14. Foreclosures are new
    ……….should have been
    Foreclosures aren’t new

  15. @ Enraged
    Ah you misunderstood the statement because you pulled an excerpt.
    The entire quote is necessary.
    Connecting paragraphs,
    The title company, judges, and lawyers got into line and in some agreement or understanding they had beyond the scope of the people being robbed, they made this happen.

    The law is the law, and all those people could not possible by (be) that ignorant of the law or title records, including the clerks accepting the records, and the county attorney who once there was whispers and then screams of fraud he should have been overseeing the instruments that were conveying property under his/her watch.

    There we go, for better clarity of your comment of my comment.

    As for the rest of what you stated:
    I’ve heard everything you said, you are preaching to the choir, and the seniors that signed reverse mortgages, made that decision of their own Free Will, and people can back out of any lending agreement within 3 days.

    I”m not going to point fingers. I’ve always said I had to sign a bad contract if someone I never did business with could take my home, but it turns out I didn’t sign a bad contract…many violated the law.

    BUT, by the same token, there are people who made bad decisions.
    Everyone can’t be lumped into the same group as victims, even the Clerk in the video stated that. Some things were done by the book, and if someone is pressured to sign a document for a home they can’t afford, then it seems they could report it to the police or AG and never move in, or something. Some arguments just don’t make sense. I read of people buying more house than they could afford in California, the people would say they took out the equity and their kids needed to go to summer camp or they wanted a vacation and so they spent the money, upgraded the landscape on the home, abandoned it and with what was left they moved to Texas and paid off a home in full, kind of stuff. I know the abuses and the misuses. I read them all.

    I’m not going to argue those points. There are people who speculated based only one the price the previous buyer purchased a home for and got stuck when they could not find a ‘greater fool’ to buy it off them. There was some gaming the system.

    Then there’s people like me and others who were robbed.

    And all states have ‘someone’ that knows real estate law. I got a lot of my information from the professors of real estate who had documents and such posted online. They gave better info that any attorney/lawyer, would/could and I know someone knows what’s required to buy a home and to sell a home and to foreclose on a home. Foreclosures are new.

    These people committed outright fraud, deception, and questionable acts. The only reason the Trustee was not part of this is because they knew better, so these businesses appointed Substitute Trustees and the Trustees turned a blind eye since the banks hired all law firms in some capacity knowing there were Trustees of some sort within them. Judges know better. If the court is fair, I don’t care if all foreclosures are normally justified, if someone says fraud, they have a duty to not default judge, they have a duty to make sure their court is equitable if they are abiding by their oath of office.

    Anyway, I’ve said these things over and over, so I’m done on that point….but you see where I’m coming from in my statement, it’s in totality that it is written, no single sentence can be separated from the whole since I was complaining about the mentionables in the last sentence of the prior paragraph.

    Trespass Unwanted, Corporeal, Life, Sovereign, A Free and Independent State (just like the authors and signers of the Declaration of Independence proclaimed), A Free People (Black’s Law 5th Edition defines People as A State), In Jure Proprio (In One’s Own Right), Jure Divino (By Divine Right)

  16. @e tolle at 6:29 – I see that was enacted in 2004. Might we guess who was behind that? They’re like bugs – they’re everywhere, especially when no one’s looking.
    What’s your take on no. 2 therein?

  17. It’s time to fire everyone at the DOJ. It’s time to toss the idiots at the O.C.C.–former Goldman Sachs employees. Vote out the attorney generals who’ve sold us down the river. It’s time to end the fed. Vote out the talking heads.
    It’s time to revoke the business licenses of every major newspaper and television station, and radio station, stop the media from helping the evil 1% who tell the media outlets what to “report”, and more importantly, what NOT to.
    It’s time to disbar and remove all the compromised judges who’ve willingly participated in the giant theft of all real property except the castles of the 1%. It’s time to round up all the banksters and get the handcuffs on them. We’ll need to do this ourselves, because no one on the government payroll is doing their job according to the tenets of the constitution. There is no justice, there is just us. The only way we can take our country back is to elect Ron Paul. The major media outlets have painted him as some kind of nut, who they repeatedly call, “un-electable” because they fear him. They know their days are numbered if we put him in office, because he is the only politician who has upheld his sworn oath. He’s the only one brave enough to stand up to the media whores, and the only one who truly understands we must get rid of the central banks, once and for all in order to restore our nation to one where law rules, not rich men. He can’t be bought and won’t succumb to the corruption that has ruined this once great country. There are a handful of righteous among the corrupt who’ve voted their conscience, but they are run over rough shod by the likes of Jabba the Newt and Sir Romney the out-of-touch rich boy who is glad he’s good at insider trading.
    It’s all got to go. We need to take our homes back, bring back peace and prosperity and sanity. Put the depraved in camps where they can feel the “eye for an eye” punishment they deserve. Let them be vaccinated with the ones they intended for us, let them eat the rotten genetically modified foodstuffs that are void of nutrition and laced with chemicals, preservatives and poisons. Let’s see how long they last on their own foul fare. When they need a doctor ignore their needs, so they can suffer like we have because of their manipulation of medicine and healthcare. Brainwash them and prevent them from knowing the truth of any matter, mislead and create an atmosphere of uncertainty and fear for them to live in. Take their sons and daughters and force them to carry weapons on foreign soil and die for nothing. Let the 1% lead our lives until they want to commit suicide, then let them live.

    There’s no such thing as a terror threat from foreign entities, what we really need to be afraid of are the rich and powerful men who bought our congress and seized control of our government. Money and politics should never have been allowed to meet and mingle; separating them will restore legitimate government where nothing like this unbelievable criminality will be allowed to exist without prosecution.
    End the lies and secrecy! End the reign of cowards whose only route to power requires stealth and self-appointment.

  18. It is clearly copyright, so I couldn’t cut-and-paste. (It is also very long…)

    Go on the site below, sign the petition. It demands a two-year moratorium on foreclosures, prosecution of banks, separation of private money and government and many, many other things.



  19. OCC settlement has certain provisions in it…but a news article has distortions of those provisions.
    See if you can tell the difference in the OCC action and the newspaper’s description of the action/requirement.
    See if someone is trying to take a short cut in their reporting or trying to get you to believe something not true.

    below is a quote from the release with emphasis added
    The OCC’s actions also require each servicer to engage an independent firm to conduct a multi-faceted review of foreclosure actions between January 1, 2009, and December 31, 2010.

    .(…dots… are mine for emphasis of the “requirement includes” part …)

    This………. requirement includes a comprehensive “look back”………….. to assess whether foreclosures complied with federal and state laws, whether foreclosures occurred when grounds for foreclosure were not present, such as when loans were performing, and whether any errors, misrepresentations or other deficiencies resulted in financial injury to borrowers.

    (…dots… are mine for emphasis of the ‘also require” part…)

    The actions………also require……each servicer to establish a process for borrowers who believe they have been financially harmed by such deficiencies to make submissions to be considered for remediation.

    (…dots… are mine for emphasis of the ‘must also submit” part…)
    Each servicer ………..must also submit………….. a plan to remediate all financial injury to borrowers caused by any errors, misrepresentations, or other deficiencies identified in the independent consultant’s findings.
    Here is the article full of distortions passed off as truth without consequences to the reporter

    Ask yourself if this was in place last April 2011 and by Oct or Nov 2011 the notices went out, why would the paper state
    “Since the settlements are completely independent of one another, claimants can double-dip, filing for compensation under both settlements.” Imagine one settlement coming in first and you cash that check and they say in their docs, we never said you could claim under both settlements and you say, ‘But, but, but, i read it online!” Ah ha ha ha ha! If it ain’t part of the settlement you can’t hold the reporter responsible for statements not made under penalty of perjury!

    The other distortion at the end of the article
    Quoting the bottom of the article
    “No reviews have been completed yet, according to Hubbard. And individual cases may take months to come to decision.”

    Why the heck not! There are some people who jumped on this, it don’t take long to look up one case and see evidence of fraud or no fraud….someone’s lying.

    Article states “4.3 million mortgage borrowers who were foreclosed on in 2009 and 2010” but then later on states:
    “the AG’s settlement, which will pay up to $2,000 to the estimated 750,000 who lost their homes to foreclosure between 2008 and 2011.”

    Ask this…why more years, less homes stolen in the AG settlement over the fewer years more homes stolen under the OCC?
    See how they distort facts…who can double dip, huh? If they are all in this and you could get your home back or full payment for the home stolen (according to the appraised value on the DOT) wouldn’t you be totally p’d off if you cash an AG check and are told you signed a document that cleared title so there is no need to settle with you and you still have a right to sue for damages. Yeah, see’s who’s laughing then.

    AG cannot negotiate with terrorists…it’s against US policy.
    The AG do not represent the people who have been robbed if there is a settlement that does not return us to the status we had before we were robbed. No robber should be able to keep the property and pay less than full value in just compensation…so AG settlement would be fraud within the fraud if it is signed and released as indicated by this article.

    I think the reporter wants to get people to start calling and begging for the lower settlement since they used the words ‘you can double dip….”’along with that – give them a call – added”

    Trespass Unwanted, Corporeal, Life, Sovereign, A Free and Independent State (just like the authors and signers of the Declaration of Independence proclaimed), A Free People (Black’s Law 5th Edition defines People as A State), In Jure Proprio (In One’s Own Right), Jure Divino (By Divine Right)

  20. @John Gault,

    You’re late. I posted it in a previous post. Mandelman wrote about it as well. Old news. But thanks anyway.

  21. It gets better and better… Can’t wait for spring.

    Bank foreclosure fraud to be rewarded at taxpayer expense
    By Andre Damon
    20 February 2012
    Earlier this month, the White House announced that it reached an agreement with the five biggest US banks to settle lawsuits alleging that they forged mortgage documents in their rush to foreclose homes.

    On paper, the banks agreed to pay a $5.9 billion cash payment to homeowners, and make mortgage modifications totaling $25 billion, in exchange for blanket immunity from further prosecution.

    But last week, Shahien Nasiripour of the Financial Times reported that much of the $25 billion would in fact be subsidized by taxpayers through an earlier mortgage modification program.

    Conveniently for the banks, the settlement comes less than one month after this program, called the Home Affordable Modification Program (HAMP), tripled its subsidy to banks for lowering the principal on mortgages.

    This means that taxpayers will be funding up to 63 percent of the $25 billion in mortgage modifications promised by the five banks.

    Even without the government’s subsidies, the write-downs are often in the banks’ interests, as they prevent costly home repossessions and keep borrowers paying their monthly mortgages.

    Thus, far from punishing the banks for their violations of securities law, the settlement is merely another means of handing taxpayer funds to the biggest banks.

    Neil Barofsky, the former Special Inspector General of the Troubled Asset Relief Program, called the revelation “scandalous” in an interview with the Financial Times last week, saying, “It turns the notion that this is about justice and accountability on its head.”

    “If the banks are doing something under this settlement, and cash flows from taxpayers to the banks, that is fundamentally an upside-down result,” he added.

    Despite the flagrancy of the revelation, the news went largely unreported in the US media, with neither the New York Times nor Wall Street Journal carrying the story.

    The settlement shuts down lawsuits in 49 states against the five banks: JPMorgan Chase, Wells Fargo, Citigroup, Bank of America (which bought mortgage firm Countrywide), and Ally Financial Inc. (formerly GMAC, the financial arm of General Motors).

    As a result of the deal, the banks will be immune from future prosecution and investigation into fraudulent foreclosure practices such as robo-signing, a widespread practice in which bank employees swore that mortgage documents were sound despite never having seen them.

    The banks resorted to these measures because, for hundreds of thousands of homes sold during the housing bubble, they and their collaborators never bothered to obtain documentation. This was partly attributable to the fact that the borrowers did not qualify for the mortgages they were conned into taking out, and partly because banks knew that the mortgages would be sold off to other investors, leaving none of the liability with the original issuer.

    Even aside from the government subsidy, a portion of the losses from the write-downs will simply be passed on to pension funds and other investors who had nothing to do with the bankers’ fraudulent actions.

    “This was a relatively cheap resolution for the banks,” Scott Simon, the head of the mortgage division at PIMCO, the world’s largest bond trader, told Bloomberg News. “A lot of the principal reductions would have happened on their loans anyway, and they’re using other people’s money to pay for a ton of this. Pension funds, 401(k)s and mutual funds are going to pick up a lot of the load.”

    The Home Affordable Modification Program was created in 2009 as part of the bank bailout, nominally aiming to prevent foreclosures by lowering borrowers’ monthly payments.

    The White House claimed that the program would keep four million people out of foreclosure. But so far only 750,000 homeowners have received permanent mortgage modifications. Of these, only 36,000 have had their principal lowered, with the vast majority of settlements leaving the amount that borrowers actually owe unchanged.

    Barofsky, acting in his official capacity as inspector general for the bank bailout, last year called HAMP a “failure” whose results have been “nothing short of abysmal.”

    Since 2006, nearly seven million homes have been foreclosed, and another four million homeowners are “seriously delinquent,” according to the Mortgage Bankers Association.

    The proposed plan to have the government subsidize the bank “settlement” would kill two birds with one stone. Obama could claim that his mortgage modification program has helped millions of people, and while publicly chastising the banks, let them get away scot-free with fraud and unlawfully evicting hundreds of thousands of homeowners.

  22. http://www.scribd.com/doc/82251458/AZ-SB-1451-text

    Arizona proposed legislatation for the refinance to market value of underwater homes. Anyone seen this or has everyone and I’m late?

  23. @Trespass,

    “The law is the law, and all those people could not possible by that ignorant of the law or title records…”

    I don’t understand your position and I’m not even sure you have one single position in all of that.

    The law is the law, you are absolutely right. When it is about real estate, which the average Joe knows nothing about and relies on a real estate agent, a bank for mortgage purpose, a title insurer and all the goons present at closing, who, in your mind, has the greatest responsibility to know best the law? Average Joe? That’s what your post seems to argue.

    Suppose you have to have surgery. You sign a consent form whereby you understand all the risks associated with the surgery. The doc mames you and you’re paralyzed. Down the road, you learn that said doc wasn’t certified to perform the surgery and that he did it under someone else’s license. Who is the most at fault there? You for not having investigated the doc (and, since the license was valid, had you investigated, you wouldn’t have been able to find that the licensee and the doc were two different people) or… the doc?

    What Shelley is saying makes perfect sense: 15 million people lost their house or will shortly have. As Tigpen said, where there is smoke, there is fire. Except that it is not a simple fire. It’s an inferno!!!

    Go back to your parents. When they bought their first house, did they know anything about title records? Or didn’t they simply trust that, whoever was going to be involved knew WHAT THEY, THEMSELVES, DIDN’T HAVE TO KNOW because this wasn’t their area of expertise?

    If you bring your car to the mechanics, do you need to know what the guy will be doing? Or do you trust him to know for you?

    People who tried to buy a house would have been perfectly OK, had they been told: “Sorry but your financial situation does not allow you to purchase a house at this time. Here is why and here is what you need. Come back when you meet the conditions.” People understand NO as being a full sentence. In this case, not only were people never told “NO” but they were enticed, encouraged and pressured into buyng a house bacause social security as we know it was never going to pay for their retirement (into which they contributed for 15, 20 or 30 years). Don’t tell me you were never told that. I wouldn’t believe you: the media has done a fine job of telling and repeating it over and over. I know. I’ve benn hearing it for 30 years.

    And then… you have grandpa and grandma conned into reverse mortgage. Are you also going to blame them?

  24. Never mind homeowners who supposedly bought more home than they could afford–the real problem is and was the banksters who created more money than they could afford.

  25. Federal Rules of Evidence
    Rule 201. Judicial Notice of Adjudicative Facts
    (a) Scope. This rule governs judicial notice of an adjudicative fact only, not a legislative fact.

    (b) Kinds of Facts That May Be Judicially Noticed. The court may judicially notice a fact that is not subject to reasonable dispute because it:

    (1) is generally known within the trial court’s territorial jurisdiction; or

    (2) can be accurately and readily determined from sources whose accuracy cannot reasonably be questioned.

    (c) Taking Notice. The court:

    (1) may take judicial notice on its own; or

    (2) must take judicial notice if a party requests it and the court is supplied with the necessary information.

    (d) Timing. The court may take judicial notice at any stage of the proceeding…………

    From committee notes:
    “As Professor Davis says:
    “My opinion is that judge-made law would stop growing if judges, in thinking about questions of law and policy, were forbidden to take into account the facts they believe, as distinguished from facts which are ‘clearly * * * within the domain of the indisputable.’

    The entire text of this Rule and the commitee notes are here:


    By my reading, one could ask the court to take judicial notice of MANY things, including MERS’ Consent Order, Aurora’s Consent Order,
    published Reports like the one out of San Fran, etc., etc. B(2) says the court MUST take judicial notice when request is made.

    I didn’t mean to make an attack on e. tolle and I apologize if it seemed that way. I’m frustrated by the arguments currently made and certain people I shant name letting bad rulings stand by not appealing. For instance, in a case I just read, the homeowner, who has an attorney, made a solid attack on the assignment. The court pretended to address it, went on a 2 page dissertation about fluff and dribble which did not at all address the argument made. The court then denied the related cause of action. It’s the third time lately I have seen a court do this – avoid the issue, and although the writing on the wall isn’t available on this latest one yet, if it follows suit with the other two, it will be left as the judge decreed it and appear as a legitimate consideration of the issue raised.

  26. @ Shelley Erickson, fifteen million didn’t buy more house than they could afford but some did.
    I read doctorhousingbubble blog and he would post the homes purchased by the poor, it would be a 900 square foot home going for $300,000 or there was a guy who made $15,000 a year and he had a $450,000 mortgage. When he told the realtor he could not afford the home she told him if he can’t make the payments she would. Well he could not make the payments and went to her to make them and she would not. So he started renting rooms in the home and for all the people that make as little as he did, none could afford payments to help him keep the home…need i mention it was an option arm that kept rising and rising and rising or resetting or whatever that term was.

    It was outrageous where the average income in some neighborhoods were about $15,000 a year and homes were selling or shall we say being flipped in those neighborhoods with monthly payments of $2000.

    So there are some that did purchase more home than they could afford, cashed out some equity with a HELOC and flipped the home to another speculator.

    Then there are the people who took option arms and paid interest payments only or less than interest and the interest would reset on the principal and the payments went up but they only paid the interest, not the principal.

    There are people who took out a second mortgage to buy more home than they could afford.

    No not fifteen million, but there are some who because of their decisions made a bad deal and there are others were were just flat out robbed.

    Not all are victims and the records they reviewed showed that but some had enough suspicious activity, faulty paperwork, and outright fraud to void the sale. If it was one of those people that bought more home than they could afford, then count them lucky, but if the clerk’s office can view those documents and see a problem, the title company who knows real estate law definitely should not have been involved in any future sale of the home. The title company, judges, and lawyers got into line and in some agreement or understanding they had beyond the scope of the people being robbed, they made this happen.

    The law is the law, and all those people could not possible by that ignorant of the law or title records, including the clerks accepting the records, and the county attorney who once there was whispers and then screams of fraud he should have been overseeing the instruments that were conveying property under his/her watch.

    AGs are part of the group, I wanted the settlement so their allegiance would be on paper. I spoke too soon. They won’t put it on paper now, because it would finger them as part of the problem.

    The bankers are on their own.
    Hey Bankers, you tried to call in favors with the AGs and they left you hanging. Don’t you finance their homes and hold their bank accounts? Who is immune from your activity, who can deal with you at arm’s length and still keep what they have an unalienable right to have, peace, liberty, property and at least the pursuit of happiness without some banker putting a frown on our faces against our Free Will.

    Trespass Unwanted, Corporeal, Life, Sovereign, A Free and Independent State (just like the authors and signers of the Declaration of Independence proclaimed), A Free People (Black’s Law 5th Edition defines People as A State), In Jure Proprio (In One’s Own Right), Jure Divino (By Divine Right)

  27. Shelley Erickson,

    Not sure I read the same into it by your referral to Ting. See Ting as discovering numerous invalid documents that require additional investigation. But, understand how victims continue to feel they are victims. .

    See — “The other foreclosure settlement: Millions of homeowners eligible.” Simply paying back invalid fees does not solve the problem, and does not provide restitution. The invalid fees, among other fraudulent servicing occurring PRIOR to refinance is most relevant. This fraudulent servicing occurred before the refinance “loan” in question. That is, before any actual default on the current “loan” ever occurred. Why did this happen?? To steer “loans” away from GSEs into the “bank” owned market. But, GSEs were compliant. Why were they compliant? Because the bank owned “loans” provided a higher yield than the the GSE loans. Thus, GSEs invested in the cash pass-through of collection rights to their own DEFAULT DEBT (now owned by banks)— to obtain a higher yield. Why does this matter? Because the refinance is then fraudulent unsecured debt. Dischargeable in entirety — despite what Neil says — “you owe someone.” You do not owe anyone if the right creditor is not identified, if the refinance/loan was procured by fraud, and if your prior loan was reported as in false default, and was not “satisfied” by your last refinance.

    The issue that I dispute with here, as to whether or not investors funded or not (and I stand by my statements that security investors do NOT fund mortgages, and they are not assignees for purposes of the TILA), is irrelevant. Because we are not dealing with valid mortgages and loans. We are dealing with fraudulent debt collection , fraud in the original contract, and fraud by statutory law. This is not simple origination fraud, as in predatory lending (although the “loans” were predatory), it is fraud in the contract itself.

    What caused all of this?? A search for higher yield. Lower FICO score meant higher yield. And, who controlled your FICO score?? The banks. Who had information about you –everything about you?? The banks. Who orchestrated a default before your subprime refinance? The bank servicers. Who is still controlling you by the mortgage settlement? The banks and their servicers. Who is the bank currently servicing for? WHO KNOWS. The servicer will not divulge, despite that this is a violation of the law.

    And, the world of unregulated debt collection — continues – even by the mortgage settlement. Hoping Pelosi comes through, but where was she before the mortgage settlement? What influence, if any, did Congress have upon the DOJs? What influence did the current administration have upon the DOJs. Why didn’t the DOJs do their job — INVESTIGATE???.

  28. Some people have told me they felt ashamed after listening to Ting, cause he feels we deserve to be foreclosed on. These criminal thugs have done a great job of making the public think they defaulted they owe the debt. Fifteen million people defaulted is a clue there is a huge criminal storm brewing, not fifteen million people defaulted by choice or took out loans we could not afford. It is well documented in Wall street and the Financial Crisis; anatomy of a financial Collaspe and more docmentary’s that proves this was a well organized crime to steal the wealth and is ongoing by bankster gangsters since at least the 1930’s. They just became more sophisticated at it and preplanned the biggest heist in history taking the rug out from under our feet, killling a healthy economy and jobs, incomes and businesses, causing lost income to pay our bills, and some did not default at all and were told to default on purpose to qualifiy for the mod loan they needed to keep up with lowering incomes and rising house payments, due to the banks crimes, the people did what the banks told them to do, and non of us were behind without being told to be behind and drug into foreclosure by the banks unapproveing the loans after five to ten payments and in my sons case eleveen mod payments when the crooks sent letters telling us we were now unapprove and our payments we were never behind on were being turned into partial payments and we were in foreclosure. one of my clients was given a six dollar mod reduction. She told them no thanks, they insisted she had to pay six dollars less and that is what they would accept and in nine months she recieved a letter like mine, we are unapproveing you and you, the mod payments are now considered to be partial payments and you are in foreclosure. There are endless ways the banksters servicers have created to steal the mortgages, they have claimed multiple times by whistle blowers that the servicers were in the forecloser business to steal homes not to modifiy. We have been dupped, taken to the cleaners and screwed! Everyone knows the economy dump is not normal it is the banks that caused it. But no mention from our represenatives of the economic crime committed by the banks and how they should be helping the homeowners. Only outrageous comments that if you have a bill you should pay it. The bills were inflated apprasials, for bank greed, the bills were mortgaged homes to save their homes and businesses when the economy began to spiral due to the banks reckless criminal behavior to be in the theft business to steal the wealth from all of us. The deadbeat parasites are the banksters/servicers. They are whom should be ashamed to treat people this way throwing them out in the streets like criminals and cattle. The government represenatives have to see this first hand. The crime is our officials taking funds by these criminals and undoing the laws that protect us and allowing this crime to happen to the consumers. No one should be ashame of what has happened to us, but ashamed of those whom have done this to us.

  29. MERS was vehicle set-up to conceal. MERS not creditor by new TILA Amendment/Fed Res Opinion. Nevertheless, SOL applies, unless concealment. And, MERS, in itself, is concealment.

  30. MINNESOTA STATUTES 2009 507.413


    (a) An assignment, satisfaction, release, or power of attorney to foreclose is entitled to be recorded in the office of the county recorder or filed with the registrar of titles and is sufficient to assign, satisfy, release, or authorize the foreclosure of a mortgage if:

    (1) a mortgage is granted to a mortgagee as nominee or agent for a third party identified in the mortgage, and the third party’s successors and assigns;

    (2) a subsequent assignment, satisfaction, release of the mortgage, or power of attorney to foreclose the mortgage, is executed by the mortgagee or the third party, its successors or assigns; and

    (3) the assignment, satisfaction, release, or power of attorney to foreclose is in recordable form.
    The county recorder and registrar of titles shall rely upon this assignment, satisfaction, release, or power of attorney to foreclose to assign, satisfy, release, or foreclose the mortgage.

    (b) This section applies to any mortgage, assignment, satisfaction, release, or power of attorney to foreclose executed, recorded, or filed before, on, or after August 1, 2004.

  31. Thanks E. Tolle.


    Not talking about the owners before you. Although, that could also very well be at issue. I am talking about your own refinance, if the loan was a refinance. And, for new purchases, anything above the conforming limit.

    The issue is loans that were not GSE loans. That is, private loans, that were “discarded” by GSEs. Note — GSE loans in foreclosure are also problem since GSEs dispose of collection rights. However, I am referring to loans that were originated during the subprime period — that never made it as a Freddie/Fannie loan. Many of these were even conforming GSE loans, that were “oddly” not sold back to GSEs, or refinanced by GSEs. There was a reason for this. They could not be, as the loan had been put into default, falsely, by prior servicer.

    And, you though you got a refinance. What you got, was a “modification” of already classified default debt. .

  32. @E. Tolle, do you know where it would be found that MERS’ nominal beneficiary statuts grants MERS the right to do an assignment of the interest in a dot? I’m serious as a heart attack. Do you know so that you can tell me what “law or custom”, which is the language in the dot, governs MERS’ foreclosures and says a nominal beneficiary may take certain actions relevant to interests in real property which interests are governed by the statute of frauds? When MERS put that language in its deed of trust, I give, what ‘custom’ existed for a nominal beneficiary to foreclose? What law grants a nominee the privileges or right of an actual beneficiary or an actual beneficiary’s agent? (And let’s keep in mind here also that ben’s don’t foreclose;
    trustees do, well should, albeit at the instance of an actual beneficiary). Why does anyone suppose MERS entered into that Consent Order and issued a mandate of no more foreclosures in its name? Were they bored? Shall we ignore this til all the homes are gone? “Okay, we can’t foreclose. Got it. So we’ll bow out and just let the servicers do self-assignments in our name and then THEY can foreclose or a trust can?” They didn’t actually even think that, though. The members are “we’re in a mess now, mers can’t f/c, we didn’t do the assignments. Oh, let’s just do them in MERS name right to ourselves or to a trust and forget all that. Yeah, that’s it.” In that MERS is allowing the same bull, just with a different name, which was the subject of the Consent Order, imo they are in violation of that Consent Order.
    As for what courts are decreeing, right or wrong, they generally rule on the arguments before them. Bad decisions are often made on bad argument. Even bad decisions made on good arguments go unchallenged and make for bad precedent. Attorneys like to argue that pro se’s make bad argument. Maybe, even probably at least sometimes. But pro se’s are not alone in that department. I have never seen and maybe never will an argument which says even if Wm Hultman himself with the blessing of a real corporate resolution (for once) executed an assignment of a deed of trust it would still be no more than a quit claim or conveyance of MERS nominee status. Now you can say I never will see it because courts hold that MERS is the true beneficiary, but they’re not. I know it and they know it. They do not have the benefit of the bargain in a deed of trust and they never will. They will never have a requisite economic interest.

  33. I wish that what you’re saying about MERS was true. At least, it may be where you live, or in the courts in your hometown. It ain’t happening where I am. They have full beneficiary, nominee, foreclosure, assignment, every right you can think of. You name it, they’ve got it, and will soon gobble up every house on every corner, legally. But of course it’s illegal, but the courts and the legislature says otherwise. So it’s legal. That’s capture in a nutshell.

  34. Mers’ assignment, disregarding momentarily the fact that the assgt is a self-assignment done handily in mers name for a payment of 20 dollars to mers) is nothing more factually than a quit-claim deed.
    A quit claim deed only vests in the recipient any rights, title and interest of the party executing the deed. MERS lays claim to the title only to the deed of trust, which dynamic I don’t see in law, so arguendo then or even if factual, that is all MERS may relinquish by an “assignment” of the deed of trust. A quit-claim deed from MERS would be more appropriate. The MERS assignment does no more than any (other) quit claim deed – it relinquishes and conveys whatever a party has, in this case MERS.

    An assignment is a conveyance of an interest in real property, generally. MERs has no real interest to convey; thus it’s “assignment” only acts as a quit claim deed of the alleged title to the deed of trust instrument; it does not convey any interest in the deed of trust itself.
    But wait, you say.
    MERS is identified as the beneficiary. No, MERS is identified as the
    nominal beneficiary. It is only in conjunction with the foreclosure language stated later in the dot that people were induced to think MERS is anything else. (I have already shouted my impression of the unconscionable-ness of that instrument for what it was intended to falsely convey to the borrower.)
    When a MERS assignment is then executed, it is only its status as nominal beneficiary for the purpose of public record-place holding which is relinquished, because that is really all MERS every had, if that, to convey.
    There has been no conveyance of the actual interest in a deed of trust. I think now our attack on the assignment has been too limited.

  35. @Anonymous,

    The records weren’t clear before I bought my house. The previous owner had refinanced a few times: once to get a better deal, once because of a divorce and a couple of other times. The recorder’s file is missing a satisfaction of mortgage and it is (coincindence…?) the one still showing under MERS as being active since four years before I ever heard of Columbus, Oh…

    There should be at least 2 title insurance policies covering this little matter… if the statute isn’t blown in between. I’m in a quandary: in one way, I’d like to file a claim with each and try to get the whole thing rescinded from dollar one. Move out. At the same time, I want to fight to the end and the get damages for the 4 years of hell I’ve been put through.

    What a dilemna: should I fight or… should i fight?

    Tell you what: how about fighting?

  36. Well said once again ANONYMOUS. The truth behind the scam is that what started out as a fairly simple heist, that is, securitization and its bastard child MERS, really took off once the government capture allowed for long established laws to be thrown down to effectuate even greater results. More and more profits could be squeezed from the backs of the middle class. The returns were good, great, then ultra-fantastic to TPTB.

    But it was inevitable that the whole thing would become like an overspun magneto, generating way too much $$$ to the few by stripping the same $$$ from the middle class. The magneto flew apart, and the rest is history….or is it?

    No. We cannot co-exist with the creators of this system and those that would seek to maintain it. Before they are allowed to take everything that isn’t strapped down, they need to be stopped. It’s the only sensible thing to do. They have to go.

  37. Sorry addendum to previous message – I was too hasty to post and confused Enraged comments with E. Tolle. and I guess he hasn’t actually been fired. This audit isn’t just about CA – it takes things farther than the MA audits even. It shows AG’s have not done the work needed. More like this cannot be ignored – it will show illegal transfers and foreclosures whether judges get it or not. Just hope the laws don’t get changed to accomodate fraud. Read the report. Strongest reasons yet for a moratorium.


  38. Obama is a tool of the elite and a “socialist” if you use the closest definition to his viewpoint, but his “change you can believe in” was an empty mantra devised to garner votes and put him in power. It was clear the American people were sick and tired of the status quot, and planning to sweep Washington clean with an angry broom. He played upon that, told people exactly what they wanted to hear. We were again suckered like we have been since 1933.
    Why can’t we rethink our lives–stop buying into the trap of total consumerism, believing that we have to protect our all important credit score and drive a new car, buy the newest Iphone and all that crap? DEBT-DEBT-DEBT. We’ve been conned into signing our lives away, and now those who’ve risen to power are secretly signing our RIGHTS away, without consulting us.
    If you have your head screwed on right, you’ll just say no to this big lie that you need to keep up with anyone else. There isn’t any real need to compete with other people. It’s an illusion.
    All you need to live really well and happily in life is a few modest things. By all this consumer spending, you have allowed corporations to take over the planet. Stop buying things! Starve out these evil globalist companies who think they have the power and the right to play God. The people have all the true power along with the right to end an abusive government that doesn’t serve our needs or suit our interests. Read the ninth amendment. Yes, we have been deliberately dumbed down with fluoride and drugs. We have been infected with lab junk designed to cripple and disable. We’re exposed to genetically modified crap with unknown consequences. We have been disconnected from health care that is corrupt and worthless anyway. OUR country is completely corrupt, and OUR government is a rogue operation no longer under our control. OUR homes are being stolen by criminals who don’t even have to follow the law and prove ownership because they own all three branches of the dysfunctional government we allowed to be seized by a few evil men who think they are superior intellectually and therefore have the right to just terminate the rest of us indiscriminately as they desire. We have the ruby slippers…we can end it anytime. Pull together everyone, and pull the plug. Get yourself a gas mask and all the same equipment the mercenary idiots have and push them all the way back. Make sure you have plenty of plastic handcuffs and pepper spray so the field is level. Lets put THEM in the FEMA camps, and see how they like it. Bring a final end to CORPORATE GREED and FINANCIAL CRIME.

  39. @ E. Tolle
    Argh…I’m totally gullible…thanks for clarifying. 🙂

  40. @E. Tolle:

    “And I’m sorry to hear that that can of worms you just opened cost you your job.”

    Is this true? I so hope this is not the case. ….and scary if it is the case…..

    I reead the news and watched the video and I was really happy to receive news of this audit. It needs to be done for every county in CA and America. It is a potential game changer in the direction of the Rule of Law at last ( if it isn’t buried or shoved under a rug). Wish it would go viral. I was about to contact my own Assessor/Recorder with the results and a personal letter. (They are asleep)…….now if they fear getting fired if they audit anything…….

    I was very encouraged by thisnext article see below (which mentions the audit) regarding the attorney general’s office saying they are favorable toward a moratorium on foreclosures:

    “Our office agrees that that would be a beneficial step,” said Shum Preston, a spokesperson for the Attorney General’s office, on a foreclosure moratorium.”


    Other articles say Kamala Harris is reviewing this report:


    The ”last quip” that you mention makes me nervous though in spite of the strength of the rest of the presentation. Afraid there are those who would like throw out centuries of real property law and recording and make it easier for anyone and everyone to stick their name on a debtor and a piece of land with no paper or money trail.

    I know you don’t like Kamala Harris or it may be someone else – I have no feelings one way or another but for now she is all we have. I am hopeful audits like this one expanded and repeated nationwide will cause moratoriums. The language and the evidence in the report and the video is very strong. Obviously the AG’s did not investigate. Further investigation and prosecution is still on the table. I am hopeful that others like county assessor/recorders can just do it for them if necessary.

    Please say this assessor did not lose his job over this…..

  41. carie,

    Yep. Servicer records not accurate BEFORE you even refinanced (never mind after). Refinances just a transfer of servicing rights — to false default. And, if you purchased a home with non-conforming limits, they got you before you blinked a eye. How many of those new purchases were split into TWO loans?? And why?? (most of subprime “loan” were refinances, but new purchases over conforming limits were included).

    Ahh– Debt collection — the biggest business across the globe. These are the “investors”, not discussed here. Distinct from security investors in fraudulent “collection rights” cash-flow pass-through. Siphoning of wealth from ordinary Americans — to those in control. Why did Congress go along with this? They had given away jobs, and had to support consumption (70% of GDP). They WANTED these “loans”, so that you could buy — and continue to buy — and continue to buy. But, when crisis hit, they said — you bought too much. But, media still cheers buying. Can the irony ever be explained?

    Oh yeah — all was unregulated. Settlement will right the wrongs?? No. AGs to settlement did not investigate. Refused to investigate.
    States got money — that is all that mattered. Why? States likely invested in the bogus cash-flow pass-through, and NEED the money. They cannot pay their pensions, cannot get their taxes – as properties were so inflated as part of the game, thus, the “crisis” has caused disaster to government entities. Why were they even allowed to invest in the bogus securities to begin with? Did they even read the Prospectus? This could NOT have happened before deregulation. Oh yeah — thank you Phil Gramm – for nothing.

    Check out Lou Dobbs — for the REAL unemployment rate.

    Political maneuvering.

  42. @Trespass,

    Not yet. I’m just using my acute ESP…

  43. Hi gang,

    Please get on your phone and send an e-mail to that Strumpf jackass at Wells Fargo and tell him to stop that eviction tomorrow morning. And then, forward that link to Obama and demand a foreclosure moratorium!!!


  44. @ Enraged,
    He lost his job over this? What’s with the R.I.P.? He’s deceased?

    Trespass Unwanted

  45. E. Toile,

    Great movie! Fantastic whodunit!

    That last quip “I don’t think the industry wanted to break the law. I don’t think that it intended to break the law. I think the industry wants to follow the law. It’s just that our laws are antiquated and need to be revamped.” was a real laugh! It was sooo funny, I nearly fell off my chair! And then, there is the “What we hope is that our AG and our government will act on this report.”

    Tigpen, you did an excellent job and you make me very, very proud. You clearly went beyond the call of duty. A true public servant. And I’m sorry to hear that that can of worms you just opened cost you your job.

    You’ll be missed. R.I.P.

  46. @E.Tolle great vid link, here’s the link to the report they are talking about.

  47. Interesting MERS item at the hamlet ,, http://www.foreclosurehamlet.org/profiles/blogs/mers-has-a-bad-day-cheryl-marchant-lies-and-bonus-mers-motion-for MERS Has A Bad Day (Cheryl Marchant Lies?) and Bonus MERS Motion for Protective Order Denied.

  48. You folks in CA need to watch that video. And then try and constrain yourselves from burning down your government offices. I know I would if I lived there and watched this.

  49. 27% of mortgage assignments on record in San Fran County were self assignments.

    I, by the power vested in me, by me do assign the DOT to me. I swear that the above is true to the best of my knowledge. Sworn before me on this day by __Me__. Witnessed by __ME__. So help me, ME.

  50. Anyone know any update about this lawsuit?
    I read here people love the Harris lady, the suit named her individually and in her official capacity as Attorney General for the State of California.
    i haven’t kept up with Stein, but he filed the suit ‘In Propria Persona’ which I find interesting because that status carries it’s own capacity above being a ‘person or individual’ in relation to who he’s suing and pretty much puts him on par with their same status and standing (but don’t quote me).
    I know many won’t know what I’m talking about but the trick here is no one ever taught status and standing but if you look at any legal doc or executive order you will see it’s not a blank signature, it indicates the capacity they are in when they signed it, and your checks, yes the one from your bank on the signature line when you sign the check on the front, that’s not a solid line, it’s really, really, really, tiny micro micro print that says ‘Authorized Signature Only Authorized Signature Only’ over and over to make that line. And somewhere probably on a signature card when you opened the account or some application they gave you a status that you didn’t notice and that’s the status you have when you sign the check to pay someone…and you are giving your money to the bank, that’s why they can be really nasty about giving it back to you on certain occasions or nasty about giving it to you a certain way when you go to withdraw it. That’s a different story.
    Anyway the lawsuit and commentary was mentioned here.
    This site likes to block my posts if I mention a website so I will just use the word (dot)org for .org — Fair use to point to information that may help in our discoveries, in my sovereign capacity to use and refer to things fairly.

    Trespass Unwanted, corporeal, life, a free and independent state by divine right, in one’s own right

  51. OMG, E.Tolle—that one really made me laugh…love your wit.

  52. Having said that, I think it’s an easy conclusion to come to. They are the only duo I’ve ever read that could be discussing FASB and subrogation and then suddenly break into a doowop ditty or start singing the Count Chocula theme. But I guess it’s me. I can’t begin to defend my actions, I voted for hope and change.

  53. @Ian, I stand corrected. And not for the first time.

    And of course you’re right…. it’s not relevant. I’m finding it hard to find stuff that is these days when all that’s left is the turning of the people upside down and shaking them for loose change.

  54. carie- Maher Soliman (his real name) and Nancy Drewe (not her real name) are not the same person. I don’t know why this would be relevant to anything. Have spoken with each at length. One on west coast, one on east coast. Not the same person.

  55. @ carie, yes, that would be my guess…..it dovetails….


    Did you mean servicer records are NOT right…?


    Sybil…meaning multiple personalities…one entity…ie. Soliman and Nancy Drewe…right, E.Tolle?



    Bonds Backed by Mortgages Regain Allure

    Greg Lippmann made his name with big bets on a housing bust.
    Some Wall Street investors made money as the mortgage market boomed, while others profited when it fell apart.

    Having reaped big gains during both of those turns, Greg Lippmann, a former star trader at Deutsche Bank, is now catching the next upswing — buying the same securities built from mortgages that he bet against before the financial crisis erupted.

    Mr. Lippmann is joined by other big-money investors — mutual funds like Fidelity as well as hedge funds — in riding a wave of interest in the same complex loan pools that nearly washed away the financial system.

    The attraction is the price. Some mortgage bonds are so cheap that even in the worst forecasts, with home prices falling as much as 10 percent and foreclosures rising, investors say they can still make money.

    “Given its significant underperformance in 2011, we believe the product is as cheap to broader markets as it has been in a long time,” Mr. Lippmann, whose portfolio is heavy with subprime mortgage securities, wrote in a recent letter to investors…

  58. @E. Toile,

    Sybil? When? Where? Never heard anything from any Sybil here…

  59. @Chris,

    Bingo. Can’t speak from both side of your mouth. Otherwise, your credibility is shot. That’s Obama for me. Not a shred of credibility left.

    I’d rather go the obviously 1% hell-bent-Romney route and see riots break out within a few weeks than cave in to something that stinks of secrecy, underhandedness, empty promises and the likes and throws us more and more into some place of no-return.

  60. @Carie,

    I don’t agree. That’s what revolutions are for… Leveling the playing field. As long as people don’t riot, nothing will change. I find it remarkable that a country as “religious” as America, a country that claims from morning to night to be Christian, a country that goes park its collective but into church pews every single Sunday is populated by such abject fear of making waves and asking questions. I really thought Christ had died so that we wouldn’t be afraid of our own shadow.

    So much for that!

  61. @ Enraged…the Monsanto thing. Oh, I do get it.

    I was being polite when I said socialism…actually that would not be a bad thing if done properly; however, I am at Fascism…the running of our government by corporations. Maybe we can agree to disagree on this one. To me, the health care mandate cannot work without removing, health issues for profit, namely insurers. Financial gains, must not be an incentive to keeping a country healthy! Just my opinion.

  62. http://www.huffingtonpost.com/2012/02/19/cleveland-mortgage-settlement_n_1275896.html?ref=business&icid=maing-grid7%7Cmain5%7Cdl1%7Csec3_lnk2%26pLid%3D136984

    Cleveland To Use National Mortgage Settlement Money To Demolish Homes, Still Wants Banks To Pay

    I guess the people the most devastated by the massive ponzi mortgage fraud will just have to starve to death or kill themselves…I guess that’s what our corrupt government wants to happen…

  63. @Chris,

    And I’m not so sure about Obama having a “socialistic” view of our future. If he did, I might go along with it. Coming from such a regime, I see good and bad in it the same way I see good and bad in capitalism: all those systems are human systems and… therefore, flawed. Comes with the territory.

    But a socialistic system is one where, granted, you pay a lot of taxes and regulations are pretty stringent. The thing is, if well-applied, those regulations are enforced all across the board and, even though you may feel that you’re only working to pay taxes, at least, you have something to show for it: an education system that stands up, infrastructures that work and deliver, a healthcare system that covers everyone, some equality before the law, etc.

    Here, we don’t have any of it. If Obama was socialist in any way, the 1% would have already started to feel it. We would all be able to go to the dentist and get eye glasses and teachers in PA wouldn’t be working for free. Further, a foreclosure moratorium wold long have been declared and small businesses would be helped. None of it has been happening so far. Even his healthcare system is a joke. Now, there is something seriously wrong with what has been happening in the past 4 years. The man of change has kept the status quo, he’s preparing for some action against iran and keeps on harping against China and the most important thing, his own country, is completely left abandoned.

    And you know what? It’s our own fault. We allow decisions to be taken by the power that be and don’t oppose them. For Pete’s sake! Every other day, some new law is being voted by Congress we know absolutely nothing about and don’t even try to find out and before you know it, banks have gotten more protection, farmers get subsidies for tobacco, no investments are being made into alternative energy sources

    Naw. If Obama were socialistic, we would already have redefined what is important for the future of a country. The guy is intelligent but wants to play every angle of the issue. Typical case of running with the hare while holding with the hounds. The worst scenario possible. And all of it in secrecy.

  64. I think you’ll find that Soliman, Drewe, and Sybil all share a common couch, if you catch my drift. The DSM-IV needs to be amended to include financial sociopaths who frequent foreclosure boards as a path to false redemption and pretend atonement.

  65. Nothing will change until it is realized that the subprime market was nothing more than debt collection to (false) default/non compliant GSE debt. And, that subprime refinance and non-conforming new purchases were GSE rejections with collection rights to (false) default debt – sold. All were in default BEFORE you even defaulted.

    What is subprime? Some may say loans with lower FICO scores. Maybe. But, most important is that subprime were GSE rejections, with insurance tapped to cover (false) default. Thus, debt collectors are collecting on Freddie/Fannie rejects, by which collection rights were sold to debt buying banks, and the cash flows to those collection rights were securitized into shell trusts and false MBS. Nothing was paid off by subprime refinance — your false default (GSE) debt was modified. You never had a valid note or valid mortgage. And, this is why nothing is done right. Assignments are not right, notes are right, trusts are not right, securities are not right, creditor is not right, foreclosure is not right, satisfaction of “mortgage”, is not right, mortgage title insurance is not right, chain of title is not right, payment histories are not right, “Servicer” records are right, force placed insurance is not right, fees are not right, etc. etc.

    Freddie and Fannie — know all. And, so does the government. Subprime victims are scapegoats. A part of history that the government just wants to go away.

  66. Hey banksters and bankster attorneys reading this blog. Good morning! And fuck off!

  67. @Chris,

    I’ve asked Nancy Drewe to tell me how to apply what she writes so many times that I can’t count them! I’m sure there is a lot in there I could use but, since I’ve become an American, my attention span has tremendously shortened… I wonder if it’s all that sugar in my Monsanto, hormone-packed food…

    Joke aside, I can’t even find out who my trustee is. I know i have a Fannie but the old broad is more interested in turning tricks than answering questions. So, when Nancy Drewe throws pages and pages of info at me, all i can do is run for cover… 🙂

  68. @E. Toile,

    “May God grant me the serenity to accept what I can’t change, the courage to change what I can change and the wisdom to know the difference.” Lots of wisdom in that little prayer…

    I’m gona leave it to organized groups to decide when this whole thing will blow. Not whether it will (because it definitely will) but when and how. All i can do in the meantime is talk about it, talk about it, talk about it. And write about it. Just in case some it sticks…

  69. What happened to Joe Nocera?

    The same thing that happened to the entire industrial media complex.

    Do we have to wait until the middle of May to bring this deal down?

  70. @ Enraged

    Are you familiar with Nancy Drewe’s postings? If so, they are confusing to me. I think she has a lot to say and it is relevant, but how do you apply what she is saying? The hardest part of this maze is applying what you learn. Any ideas on how to decipher her message and apply the information?

  71. @ Enraged

    For sure, I care less about “peeping toms” but my case is important and I have heard through the grapevine, some of the attorneys are scouring this site for information about the pending litigation against the banksters. Maybe not, but my case will be revealed in its entirety before the judge, but I do not mind sharing much of it.

    The thing with Obama…This sounds “fatalistic and paranoid” but I have to tell you; I think this is being done intentionally, by him. His vision of the world is globalization and socialistic governing, by which wealth and power is distributed, by those who know best: He and his cronies…the richest 1%. Obama’s policies are in direct conflict with Democracy and Constitutional Law. That is NO accident. Let me say this: you do not pander for votes from people who control all the finances, manipulate goods and services, small interest groups and “illegals” (who do not have a license, never mind a voting card…which is forged), unless you deliberately want to squeeze the middle-class out. Now, long-term this is a bad idea, ’cause where is your tax base to keep the country afloat? I am not convinced he is even worried about that, because we are in essence already bankrupt. With the Fed playing games with the currency and floating loans…with no collateral, I have to wonder, where this could all end? Very frightening prospect.

    Thanks for your insights…I am listening and paying attention!

  72. @Chris,

    Souds like you”ve started to compare the originals you got at closing and what your QWRs fetched you, right?

    Next advice: google absolutely every single entity on your docs. Notary, title insurer, even the courier used by the bank and the foreclosure mill. Everything and everyone. You’ll discover that:
    1) One out of 2 comes from Goldman Sachs
    2) The have their fingers in more than one company involved in your mortgage. Just like my lender who was also the title company (!!!)

    Listen: there is not one area of the real estate industry that wasn’t seriously impacted by fraud. Not one! That’s what makes it so infuriating and insulting when I hear Obama claim that we, “irresponsible borrowers” caused all that mess. Let me tell you something: just that constant little phrase from him and his refusal to investigate and prosecute are enough for me not to cast my vote for him: there is something fundamentally dishonest in the way he refuses to tackle the issue.

    To me, trying to rebuild America without prosecuting fraud is the biggest exercise in futility I have ever witnessed. The guy seems like an intelligent man. I know that he knows it. I know that he knows that a society based on fraud is a dead society. Just look at Congo, Zimbabwe and any other African country and you can see that I’m right. Those countries have richess the worl over and can’t get out of their hole and constant civil wars. Why? Corruption. That’s exactly where we are going and Obama dosen’t understand it? Naw, I don’t buy it.

    There is something intentional in his refusal to act and I want to know what. As far as this site being monitored, I wouldn’t worry. What is the worse than can happen? They shut it down? Can’t do that: it would be way too obvious and the trigger for some major upheaval. Investigate us? It’s been done for a long time. You don’t have one secret bit of information left.

    Don’t worry and keep talking and educating people. That’s the only way to get to the other side.

  73. @ carie

    There are so many inconsistencies…As far as I know, you cannot foreclose on or behalf of something, that does not exist. Just because it did, at one time? Really?

    Those dates will matter…and the assignment and/or transfer. I have the same issues +++++. I would explain, but at this point am very concerned about who is monitoring this site…don’t want to give my entire case away. My advice; go back to the very beginning, as I have with the original “work product” from the attorney. It is proving to be quite revealing. Just sent out 2 more QWR’s, all different…Just saying!

    Just my $.02


  75. My Indymac/OneWest servicer said:

    “…our responsibilities include collecting payment on behalf of the trustee…”
    “…since we were the duly authorized servicer acting on behalf of the securitization, we were able to proceed with the foreclosure due to your uncured default…”

    Doesn’t that mean I should be able to see a LEDGER showing the “payments and/or proceeds” going to the trustee? Don’t I have that right?

    Nope—we can just steal your house with no proof of a G*DDA*N thing.

  76. And what of these real estate agents and their lawyers who buy the foreclosures sold by the debt collectors? Are they the enemy too? They MUST know what’s going on…are they turning a blind eye and being a party to the madness just because no one is stopping them? Are they my enemy too? Should we go into these real estate agencies and say what the hell are you people doing? What are you doing about the titles to these properties? Don’t you realize this is theft? Can I sue them—or do I sue the foreclosure mill and the servicer? Who is responsible for the damages I have sustained due to the theft of my property???

  77. The “banks” as we call them, the servicers actually…is what they are. Have no losses…they have no right to recover anything. They did not loan anything and cannot get a house for free, ’cause they say, we “bought” the mortgage…really, for how much? Then that is what is now owed, not the $100,000. note you bought and did not get authority to be “a party to” for $9,500.00. Then I offer you $9,500 for my house and you get the lender to sign a satisfaction of note and we are good!

    If I buy a note from a doctors office for $50.00, that was $5,000.00 I do not have a right to collect $5,000.00, the agency was only entitled to the $50.00, not $5000.00. The debt was created, by the doctor and me, not the collection agency.

    Think about how crazy this is: I have been in contracting for 20 years and I could go around my neighborhood and fabricate bills, and put liens on peoples houses, sign them over to lawyers to collect and make millions, if no one ever contested my invoices. Just in them defending themselves it would cost tens-of-thousands of dollars and I would still get something from them, as every lawsuit has some value.

    I know I am making this very simple and foolish, but this behavior is not so far away from what is going on. Why should homeowners be put in this position. The homeowner is “a party in interest” referenced by the note and deed. One cannot say the same for the collection agencies (that is what they are) working the court system here!

  78. 72 Responses!
    It’s because the bankers were operating on an assumption.
    Enough time, enough fear tactics of providing service at the end of a gun, or by physically violating you and your family as the adults tell the kids, it’s okay to let ‘HIM’ feel on you; that some people just woke up and said, NO! We are the People. You are someone hiding behind a corporation and robbing the People and using your Media contacts (which you provide money to and are holding their accounts of value so if they don’t do what you want, Ooops, they can go bankrupt, or their advertisers accounts, another Ooops, audit) you use them to tell us what you want us to ‘believe’.

    We we’ve heard what you have to say.
    Roll over and take it is all that comes across the media.

    In school they tell you, you can be whatever you want to be, and then they turn around and take away you being employed, or a provider for your family, or a homeowner, and they want to pre-label you a unpeaceful inhabitant, and get people to join them by saying, if you have nothing to hide then you’ll go along with it.

    Oh yeah, you have a right to privacy unless someone wonders why you need privacy…Uh Hmm.

    This is coming apart. The People didn’t all sign these documents, we aren’t a party to them, we never agreed to them, and if we didn’t agree you are stealing and violating and oppressing free people into involuntary servitude…sure we work for property for years and have it stolen…no you didn’t make us do it all at once and no you didn’t call it involuntary servitude, but why else have someone work for something of value, you steal it, and then offer them a pittance for the property and say, ‘see! I tried to make things right!”

    Sssssure! you did. Not!

    Let the future arrive now. The third world war is a war for the soul. Beware of the messages of fear you receive and the enemies you are told to hate. There are no ‘real’ enemies, but there are some people who just don’t belong here. See them for who they are and tell them you aren’t ‘playing’ anymore.

    So many are mad but are still playing. They got you in the game waiting on the next guy to ‘elect’ that can to to you what the last 41 have done. Oh well, if we stopped playing it won’t matter. Right now more than half of the people in the country are registered to be ‘governed’ by them and so they are making decisions with your blessing, with your name on it. Yes I called it. You gave up your Creator and asked them to ‘represent you and your interest’.
    That’s not what they had when they created their constitutional doc.
    They were independent and free. We register our pets and think nothing of it when we register ourselves….same thing…but oh well.

    This guy won’t speak under penalty of perjury, he’s probably part of some alumni, or secret society, he owes his allegiance somewhere and it’s time to pay up or put out and so he uses his clout and audience to convey the message for his ‘hidden’ click and try to influence his ‘followers’ (like sheep to slaughter or lemmings over a cliff) to accept his word as their word so they can accept a ‘settle’ ment.

    Trespass Unwanted, corporeal, life, a free and independent state by divine right, in one’s own right

  79. As for the Criminals …… I have “White Out”,, a “Shovel” and a “My Notary Seal “..of Approval. Give they Keys back to the United States Citizens … because where you are going, your not going to need them. The Jailer Keeps the keys there. I’m sure the homeowners will give you the same consideration you gave them…. and send you the soap. *Giggles*

  80. Just my opinion…. The banks should offer all those removed from their homes an oppertunity to purchase another home right away if they have the income to support the payment……** (no gov ins loans, they use their own money NOT investor money)** …… This should clear the homes on the market and allow for recovery.

  81. Just my $.02 again

    If John Walsh of Americas Most Wanted, Erin Brockovitch, PG&E Suit, MADD, etc…can make change, so can we…The judicial foreclosures, may be a small part of the change we need, but it’s a start. Our voices NEED to be heard. For me, it doesn’t matter who bought houses they couldn’t afford (Predators sought many of them out), either way, the rule of law is being violated everyday, judges are lying, lawyers are lying, banks are stealing, etc…I am damned mad and stealing is not and should not be allowed, by anyone, it is still a crime and needs to be punished!

    The AG’s need to be put in their place, they are employees, they are paid for by the taxpayers and are not employed by banks. They need to start behaving as employees, not renegades, making deals with Felons! When did we get a chance to get in on that deal or get a plea bargain for OUR homes? Most Felons have to make restitution…

  82. @ E. Tolle

    I go back to my older post…If Enraged borrows money from Neil and then loans it to me, I am not a party of the contract with Neil. Now, if Enraged decides not to pay Neil, he cannot sue me for the money, unless I was a party to the loan from Neil, he knew it and I agreed to pay him. This relationship needs to be disclosed and all parties agree, but Enraged misled Neil in the process. What does Neil do about that, forge a contract and go after me? Maybe…but in this small scenario (without all the layers of lies and paperwork) I can prove Neil never lent me the money and Enrage owes it to him, not me. Now, this is a little simplistic, but the same principle applies in this mess, except you have a deed and title issue with a house. Now, if Enraged uses her house for security for the loan she gets with Neil, Enraged loses, but if Enrage uses my house and I have signed an agreement as such, allowing Neil to secure the note with my house, but Enraged, the originator of the loan signs the agreement, instead of Neil, then where is the contract, neither Enraged or Neil has a right to my property, as she did not loan me the money, Neil did, she only originated the loan.

    You get my point: this is why there is a problem. Sorry, if it is a little a skew, I have to work on keeping this straight. But you all get the point…and in court I am going in just like this only using the judge, the defendants attorney and me! The premise is simple, but gets very clouded, with all the players and paperwork…

  83. @ chris, thanks for your comments. Yes I agree, it is all wrong. But then this attorney lost a foreclosure case that I’ve read on several occasions that was extreme on its poor arguments. But getting a judge to understand how wrong it is is the key.

    @ Enraged, all I can think that you might be referring to is the old adage about how many “bites of the apple” that you’re allowed, that’s taught in law school. The going rate that I’ve heard is three bites, but it’s not chiseled in stone. But also, the issue I referred you to hasn’t actually entered court. Both assignments set up a foreclosure, but were never followed through.

    It’s my belief that they saw the break in then chain and decided to go after lower hanging fruit. However, a new notice of pendency has been filed which would mean another attempt is in the works, so I must be wrong on that.

    This does, however, bring up something that will probably start coming into play for many given a little more time, that is, the doctrine of laches. How long should these banksters be allowed to let the trail go cold before being run out of court? Just to keep records fresh, and to expect to be able to locate notaries or bank personnel or what have you….it shouldn’t be up to them to allow these things to drag on indefinitely just because they’re so busy pillaging.

    And the argument that the borrower got to live in the house payment free doesn’t add up literally when one calculates the further reduction in housing values over the years of further declines. That argument also stings in that it leans towards believing that they have a legitimate interest in these properties.

  84. Mortgage industry advocates, the press, government leaders, attorneys and the courts have taken a stance that state foreclosure law deals with mere technical procedure and that violation of procedure should not provide a windfall remedy to a reckless borrower.

    This is not about procedure alone (and there are good reasons for strict procedure especially in non judicial states). This is about why procedures have been ignored by parties who should know better. It is about standing and beneficiary status.

    If a party is claiming to own something they do not own and recording fraudulent documents in order to seize money or property – who exactly is getting a windfall?

    There is no reason for these fraudulent recordings unless someone is fraudulently inserting themselves as the owner of something they do not own. There is no need for fraudulent documents by a true and lawful beneficiary. That party can make its interest known without breaking any laws by following the letter of the law. So why is another party doing this instead of the beneficiary using fraudulent documents, assignments, transfers, substitutions and “procedural” violations?

    Identify the beneficiary. Identify who has standing to foreclose whether that party is following “procedure” or not. Define the “windfall”.

  85. Sorry, typo in post below. Meant to say they are not the holder or holder in due course, or anything else I can think of.

  86. Neidermeir-Great that you took the initiative. And made a start. I intend to pull the curtain back on the ‘creditor bid’ by the ‘bank’ by submitting my audits of the chain-of-title truths showing that they aren’t the creditor. They are’t the lender. They aren’t the mortgagee. They aren’t the beneficiary. They holder, holder in due course (through a perfected chain of title). And last but not least, they ARE NOT BANKS. Yeesh, that grates me. Like ‘bank owned’ signs dotted around the area. They are not banks, but this verbiage gives the occasional passerby the impression that ‘the bank took the house back’ and promulgates the myth of the ‘subprime housing crisis’. When I get through with these morons they won’t even be identifiable by their dental records.

  87. @Ian , @E. Tolle ,

    I did something similar Nov 2010 in Orange County. FL , The game there was that the “bank” would announce at the live auction that they would bid up to $XXXk (on a house that was now worth just $XXk) … They would “bid” $100 unopposed and walk out paying just $7 in doc stamps for a $150,000.00 house …

    I bid (and of course lost) against the bank and filed objections to all 15 sales I bid in (I had chosen sales where the banks were “foreign” (not registered corps.) in Florida) filing in the objection that the plaintiff had no standing because they failed to pay the $100 foreign entity fee.

    I also wrote to the local newspaper (they printed nothing) and the chief judge of the civil division noting that the county was losing almost $40,000.00 PER WEEK in just doc stamp fees at their sales…

    In 2 months (mostly to alleviate the fraud that was the open outcry system in this courthouse) Orange county adopted an internet based auction system that for the most part ended the phony $100 purchases and greatly increased their revenue…

    The 15 objections took between 9 and 13 months for the banks to fix…

    STANDING STANDING STANDING … Repeat after me … STANDING! They can’t show it … fight from day one .. I wasn’t even a participant in these cases until the actual sale and I got results that are costing the banks in just this one circuit (NINJA9) almost $2M a year.

  88. joann – please take a minute to follow my link to goodgriefamerica.com
    There is a CA group forming. Maybe you/they can get more members and organize to demand a moratorium. I rec them as they already have a forum. You have a lot to contribute.

  89. “Our office agrees that that would be a beneficial step,” said Shum Preston, a spokesperson for the Attorney General’s office, on a foreclosure moratorium.”


  90. Oh my goodness. This is exciting:

    What a wonderful concept. We could have these in every state.
    New one or form chapter for more Power to the People. That’s a good mantra to bring back. Check it out:


    John Lennon – Power to the People
    It IS a very powerful message and mantra.

  91. Does anyone ever wonder why WAMU is named as the beneficiary on the NOD (not Chase and not the trust and indentured trustee bank for the trust)? Does anyone wonder why the ADOT names Chase as the beneficiary (the party with standing to make an sale or assignment of beneficial interest) to the trust years after this supposedly already occurred? Why the previous owner is not named as a beneficiary – the Depositor WMAAC? Why a robo signing processing employee of California Reconveyance Company (DOT trustee and foreclosure sales company and fabricated doc company owned by Chase) makes this assignment pretending to be a CEO of Chase? What’s up with that? AG’s? CRC no different than DOX or LPS or MERS ect. When will this company get investigated?

  92. @Chas404:

    “In the case of WAMU/Chase they are finding out that no they did not buy the WAMU notes”

    Chase got a a windfall with ”govt. assistance” (quote from FDIC historical description of WAMU) of a bunch of buldings and tables and chairs along with what they really wanted – the deposit accounts especially in western states.

    Where is there any listing of mortgage account numbers or notes in the Purchase and Assumption Agreement? Where are there any recorded or unrecorded assignments to deeds or endorsements to notes or any bill of sale for mortgages (purportedly alrealdy sold and paid in full to trusts years before)?

    Yet Chase uses the word “Purchaser” to foreclose and “Successor in Interest” to assign and foreclose and turns around and denies it is a “Successor in Interest” in its lawsuit with Deutsche Bank and the FDIC and denies it has any liability for WAMU mortgages.

    Chase also refuses to produce the loan files even to the indentured trustee bank for the trusts – Deutsche bank in this case. Which is it Chase? You can’t have it both ways. What do you own?

    In the Deutsche Bank case the Court has ordered discovery, to be completed by May 11, 2012, “as to the meaning of the Purchase and Assumption Agreement”, which is the agreement Chase uses to foreclose and assign mortgages nationwide. This production is under a “Confidentiality Order”.

    If a court hearing the arguments of these Titans (not tiny homeowners) needs clarification on what the P&A agreement means – how can these foreclosures have gone on and on automatically (especially in non judicial) with no question by anyone at all?

  93. @Ian,

    I didn’t actually state it but I do recall something (yes, in one of the states but which one? Can’t remember. Need to research) about a judge stumping his foot because the same homeowner was dragged in court over and over by different entities over the same mortgage note and the original lender was nowhere to be seen. Can’t remember the specifics but I believe I read 3 times was the maximum.

    Again, I saved it somewhere for rainy days. I’ll have to dig it out.

  94. Enraged- I didn’t know there was a limit as to how many times a homeowner could be foreclosed upon. Keep us posted on this please.
    And is that solely a state statute? Which one?
    If someone is being foreclosed, then the loan has defaulted, or has been forced into default, someone is supposed to charge off the loan, take a writedown, and do what with it? Leave the mortgage/DOT with MERS, and ‘assign’ the note to Fly-by-night bancorp? But the person taking the writedown receives a 100% credit/deduction against earnings. So a 200k loan, they get 200k credit. So they are made whole on their ‘loss’. Any accounting types out there? Say where in the world has M.Soliman gone? He wrote me a nice email a little while ago, I miss his arcane yet insightful input.

  95. Enraged,

    I am wondering what will happen to me via MortgageIT, Inc as my originator(letter A in the title chain).

    They technically did not go bankrupt but went out of business and got swallowed up and purchased by Deutsche Bank.

    Will be interesting to see what they do. There may exist some employee in MortgIT or maybe just a DB employee will work but in what capacity can they assign given MortgIT is basically gone?

    Any MortgIT folks out there chime in. I agree if A is bankrupt they are toast but MortgIT is kinda grey area on this regard.

    I think MortgIT bought out by DB may be similar to WAMU bought by Chase.. meaning OK so you bought the company but can you prove that you bought the note????

    In the case of WAMU/Chase they are finding out that no they did not buy the WAMU notes. Same for MortgIT/DB guessing.

    In my case nothing is recorded other than original mortgage MortIT/MERS. My guess is note says either MortgIT as original or they endorsed in blank and sent to FMae.

    I am hoping it stayed with defunct MortgIT.

  96. Joanne- I would enter into any agreement with the county governments whereby they would pay a percentage of all monies collected. From the monies collected, that is. So there would be “no out of pocket expenses”. Geez, that sounds familiar.
    Alot of counties are already doing that with property taxes. An entity fronts the property taxes due and collects from the homeowner, or floats the balance due, collecting double-digit interest in the process. Again, fleecing the homeowner/taxpayer and shorting the county coffers.
    I know it would be a serious undertaking on a county-by-county, nationwide basis, but is simply procedural. Maybe we could get Deloitte or KPMG to keep a second set of books for us, and only report a small fraction of revenue, and get a bailout. Set up some offshore trusts in Grand Cayman on Elizabethan Square with the other 5000 banks headquartered in one building. Why it certainly looks legitimate to me.
    I believe the HEAT series of MBS are registered in the Caymans, forget who they were registered by. Well, since each mortgage was listed as an asset of 100 different trusts, it doesn’t much matter who registered what, where.
    As Woody Allen said, ” It takes a long time waiting for eternity, especially near the end”.

  97. These audits need to be done, paid or voluntarily. It would be
    better to have only the local government involved at first.
    This cannot any longer afford negligence or being ignored.
    How long before these files start being destroyed in mysterious
    fires/ Or the failure of electronic systems being erased?

    As to looking up to anyone, such as Nocera, don’t put anyone
    on a pedastal.

  98. Chris,

    If A has long been defunct, what the f… is A doing assigning to B and to C? Who is acting on behalf of defunct A? And on what grounds?

  99. E. Toile,

    Isn’t there a limit to the number of times a homeowner may be foreclosed on for the same house and the same debt? Didn’t I read something about cases where the defendant argued that specific point and won?

    That attorney you are refering to, I’d challenge her to make that very same argument, exactly as you present it, to a judge. If he buys it, she wins (means that everything does, indeed, go but May 15 will take care of that). If he doesn’t, she agrees to admit in writing to the bar association that she is a moron who wasted years in law school and she gives her membership back.

    Sell her your car. Get her money, keep the title. Sell your car to another guy and have him register it right away. Then, she’ll know how dumb she really is…

    Fair enough?

  100. For anyone from AZ,

    You guys have a possibility to overcome the foreclosures by using eminent domaine and, apparently, some moronic journalist is so opposed to people getting out of their hole that he is willing to write anything and everything.

    Is freedom of speech really what it’s cracked up to be? I mean, honestly? Should we grant freedom of speech only to those of us who have no connection whatesoever with any TBTF? Whaddya think?


  101. @Ian:

    “Joanne- I was half-kidding”

    I know you were half kidding. I’m not. Not embarrassed to fall on my face here and think out loud…. I think there is a business opportunity here somewhere for someone……or a State, AG, County Assessor-Recorder or other govt. entity who actually wants to get to the bottom of it and who is not in the business of hiding it under a rug…..New Deal WPA opportunity to put people to work and be paid from the results…. Infrastructure jobs…. Infrastructure=real property. Time to put people to work restoring real property. It will pay for itself many times over just as it depleted the coffers of many parties – many times over.

    Audits like the San Francisco audit need to be done in every county and even that one can be expanded and refined. If Govt. fails to do this then why not individuals and small business or a coalition of individuals and small business? Perhaps even let some enterprising attorney (AG?) file massive class actions that cannot be ignored.

    Obviously volunteers could do it and we will do it (many have been doing it for years – they have been ignored) even if it is only our own documents and our friends and neighbors documents (massive amounts of these docs exist in non judcial having gone un-noticed and undiscovered just sitting there like buried evidence or treasure as the case may be) just imagine though if there was a way to get paid – from the results of the labor.

    Just wondering who would pay for these results and why. That would be any entities who stand to gain from the restoration of what they are due including govt. agencies. I would work full time round the clock and there are a few million who would jump at a chance to do the same right now.

  102. Carie and all-
    I am going to keep repeating this, just as A MAN has been repeating “Never Again” for a long time-
    1. Homeowners fall victim to a fraudulent foreclosure, for any and every reason stated on these pages
    2. No attorneys listen, people think they’re a deadbeat for missing 3 payments so they can “qualify for HAMP”
    3. Foreclosure begins, parents depressed, start yelling at kids, drinking, becoming despondent
    4. Foreclosure completed, family evicted, depression,sense of hopelessness, failure set in.
    5. Parent/parents commit suicide. Too much for them, may they rest in peace.


  103. I have noticed all arguments in district courts are lost to smj dismissal and turned around in the Circuit Appeals courts. Dont give up in cause district court throws you out. I have come to the conclusion their is only a tiny few district court judges that are trust worthy like Radkuff and Schack. Not sure I am spelling Radkuff properly. All the reversals and honest orders have come in the majority of Appeals. The courts are bought and inconflict of interest due to their pensions are rapted up in the empty invalid securities pools and they are placed their by foreclosure mills. In the state of Washington if you try to sue any government agencie the judges are all part of a single securities pool insurance company, that pays for the losses. The judges are under the same insurance pool, they attorneys work for to protect the claims against the government. Your case is smj and dismissed right out of court also. District courts are in conflict of interest and should not be judging mortgage cases or claims against the government from what my point of view.

  104. 2003 MOM with lender A. (A defunct for many years now)
    How can lender A (defunct) assign in 2008? Or was it before? Why was the lender (?) defunct? It matters, where the assets went.

    2008 assignment from lender A to Bank B. Foreclosure started by B but no follow through.

    2010 assignment from lender A to Bank C. Foreclosure started by C but no follow through.
    Another assignment by the defunct lender in 2010? Did A make a corrective assignment and or remove B from the assignment?

    Now notice the dual assignments from the originator.
    Dual assignments, how can that be, the originator is not the lender goes to authority.

    This attorney is arguing that Bank B can foreclose
    Well then she/he needs to bring the collateral assignment from the lender to do it!

    that it’s just like if she sold me here car, and then sold it again to you….whichever one of us recorded the sale first owns then car. If she sold you the car:

    Cars require a title, like a note and deed, if she sold you the car in order for you to own and properly register you need a legitimate title. Now, if she gives you a title and then she sells the same car with a copy of the title, she has had to have copied and misrepresented the paperwork to one of you, which is a felony. Which person did she actually title the car to.

    must be She says that Bank C is “simply out of luck”.

    And so is the attorney, liar, liar, liar…

    Need a little more info…but sounds like poop to me!

    My $.02

  105. Look this up under McDonnell Executive Summary,Scope of Registry Audit ( this audit states from the number of audits of the PSA’s none were valid. None. See on the fith page underlined The securitized trust(REMICKS) were all invalid. On the first page it states only 16% of all assignments were valid.

    1-10 of 2,300,000 results· Advanced
    Executive Summary
    Forensic Examination of the Essex Southern District Registry © 2011 McDonnell Property Analytics, Inc. – All Rights Reserved Executive Summary SCOPE OF REGISTRY …

    http://www.salemdeeds.com/pdf/Audit.pdf · PDF file

    Then look up Office of theAssessor-Recorder San Francisco Foreclosure in California A Crisis of Compliance San Francisco February 2012 .

  106. @ all

    The system is definitely broken…here’s the thing: In Federal Court you have much more latitude and can ask for a variety of things, even if you don’t get them, but they are a part of the case, where district court only has jurisdiction to quiet title and as we all know, that is a joke (not really)…If a Federal Judge is on his/her feet, they will make it much more difficult for these forgeries to pass as “authorities/owners.

    The other thing is, if a judge tells me, I have no case and lies, I will not hesitate to file a misconduct complaint, an appeal, whatever, if I have to get to the Supreme Court. At this moment, I have 3 suits, filing a claim against the title insurer, the servicer, the attorneys, errors and omissions insurer anything that has an avenue for discovery, reclamation or losses incurred by me, the “party in interest” of the property.

    Then I am going to try and hope some of you are on board to do away with the non-judicial foreclosure, for starters, to allow us “due process” under our Constitution. At this time, we have no rights to much of anything, anymore. I am just trying to find solutions…it is a beginning and something we can fine tune.

    Thoughts? Doing nothing is NOT an option.

  107. @ Enraged, same boat with Fannie. There’s no key. She’s slammed shut. If we lived in a world of honest government and transparency….oh never mind.

  108. Question for any who has an opinion. I’m having a 212* heated debate with an attorney as we speak….as follows:

    2003 MOM with lender A. (A defunct for many years now)

    2008 assignment from lender A to Bank B. Foreclosure started by B but no follow through.

    2010 assignment from lender A to Bank C. Foreclosure started by C but no follow through.

    Now notice the dual assignments from the originator. This attorney is arguing that Bank B can foreclose, that it’s just like if she sold me here car, and then sold it again to you….whichever one of us recorded the sale first owns then car. She says that Bank C is “simply out of luck”.

    I don’t buy that argument for many reasons. Anyone?

  109. see full article—in case you missed it:


    I came across this on Matt Weidner’s site today—here is part of it (this goes for me in my CA situation and probably all non-judicial):

    Yes, A Thief Can Use Courts To Steal A Home In Florida..

    “…I had been asking since August 2010 for some proof that the servicer plaintiff had the right to enforce the note and foreclose on the mortgage. Show me a pooling and servicing agreement. Show me a power of attorney. Show me a note scribbled on a post it note. Show me. something. They never produced the first piece of paper, not one shred of an agreement or a letter or a contract, but that didn’t matter one bit. I argued that allowing my client to be thrown into the street with no evidence whatsoever that the plaintiff had any right was a fundamental violation of the right to confront one’s accusers and just a plain old violation of common sense, but that didn’t matter. I argued that as a simple matter of law we should know who was going to benefit from the judgment that totals nearly three quarters of a million dollars. I argued that as a community we all had an obligation to know who was benefiting from throwing this man and his wife into the street.

    I lost that argument.

    Oh, just a few more things. I took the deposition of two corporate representatives and reviewed all the documents I could wrench out of them, but neither could tell me who owned the note and mortgage. They were both absolutely explicit that the plaintiff did not own the note and they were equally clear and specific that they had no idea who owned the note. But that too did not matter one bit. I argued that the court should at least require the plaintiff to know who they were foreclosing for. But that argument was rejected. This phantom plaintiff, with no proof and no idea who owned the note and mortgage was permitted to foreclose and will throw my client out into the street.

    I lost that argument.

    Now who will get the proceeds from the eventual sale of this property? Will they figure out who owns the note and mortgage eventually? I wonder.

    One last thing. I asked how the plaintiff even knew that their attorney was authorized to represent them. If they had no servicing contract and they had no idea who owned the mortgage, did they even have a retainer agreement with the attorney that was representing them? Nope. Nada. Nothing. But that too was a loser.

    I lost that argument.

    I’m steaming and stewing and furious at this madness. I just cannot believe this is the nation we live in, but this in fact is the case. We live in a nation where unknown and undisclosed principals can direct front companies like hit men to come take you out of your home. The fact of the matter is I failed. I did not do my job. I did not meet the heavy burden placed upon me by clients that trusted me. The court made its ruling in a cold and dispassionate way given the facts and the law before it, such as these things are. The bank’s arguments were not novel or complex frankly. The bank merely argued that this is the state of the law and that the court and all of us must accept this reality. But I find it all most terrifying and sickening. This in fact is not the law of the land. It is a dangerous misapprehension and twisting of the law that is gaining a foothold. Such a foothold must not be allowed to gain traction, we must all fight and pursue cases and prevent such misinterpretations from gaining acceptance, but this is a difficult thing to do in this current environment. Why is this so? Well, consider the following:

    We live in a country where our laws and our courts bow in supplication to the banking and ruling class.

    We live in a country where our laws and our courts are not really ours at all. They belong to the banking and ruling class.

    We live in a country where hundreds of millions of dollars is being granted in judgments by judges who have no idea who they are granting these judgments to

    We live in a country where title to homes and properties are being passed around and secreted from one shadowy trust or company to the next.

    We live in a country where the banks routinely mislead the public, engage in fraud and financial crimes but they are rewarded both with big settlements at the national level and with rewards and benefits on the street at the local level.

    We live in a country where the president and the nation’s attorney generals hold press conferences to announce a broad settlement with the enemy when in fact no terms have been signed, no agreement has been reached.

    We live in a country where attorneys can stand in courts of law and announce explicitly that the law of the land is that thieves can steal houses.

    And win that argument.

    One more time.

    We live in a country where attorneys can stand in courts of law and announce explicitly that the law of the land is that thieves can steal houses.

    But can there be any doubt that this is in fact all madness…?”

  110. @To anyone,

    What are the steps to follow in order to find out what trust Fannie Mae was the trustee of? I still can’t figure it out and Fannie is Oh! so secretive about all her shenanigans… Does anyone have a step-by-step for that? And please, don’t tell me to ask Fannie. She never answers anything to anyone. Unresponsivle and unanswerable… My kinda girl.

  111. @ Ian, please do a follow-up report. This is something I’ve wanted to do for years at my recorder’s office, just haven’t sat down to write the script. If you refine a program, please share what works and what doesn’t. Strength in numbers and revealing the fraud covers their hiding places. It’s all dark down there.

  112. Look up Washington State V. RECONTRUST, filed by AG MCKenna, and read. All the foreclosures are under this same not in compliance with State laws. Our AG has the power to seize the banks, if he really wanted to.Send this to your AG’s in your state.
    only 16% of the mortgages were valid mortgages.
    Mortgage Fraud: Local Officials Step Up To Uncover Document Fraud
    Local officials are conducting research on mortgage fraud in the absence of state and federal data.
    First Posted: 02/17/2012 7:19 pm Updated: 02/17/2012 7:22 pm
    Fwd: RCW 40.16.030 RCW 9A.28.040. the corporation including banks can be forever banned from Washington state.

    The A G has a law that he can prosecute [1975 2st ex. s. c. 260 RCW 9A.08.030] and RCW 9A.28.040. IS A LAW I FIND THEY HAVE DELETED AND PUT THESE IN PLACE: RCW 19.86.080 AND RCW 19.86.140, that give Rob McKenna the right to act . Rob McKenna has a statute listed in his WA V RECONTRUST that must be this law I have not checked it out, that states he has the right to prosecute. states ” Every corporation, whether foreign or domestic, which shall violate any provision of RCW 9A.28.040 shall forfeit every right and franchise to do business in this state. The attorney general shall begin and conduct all actions and proceedings necessary to enforce the provisions of this sub section.




    Mortgage Crisis , Foreclosure , Massachusetts’ Southern Essex District , Mortgage Fraud , North Carolina’s Guilford County , San Francsico , Foreclosure-Document-Fraud , Fraud , Phil Ting , Robosigning , U.s. Attorney General Eric Holder , Business News
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    In the absence of state and federal research about how the nation’s largest mortgage companies are forging mortgage documents and wrongfully foreclosing on borrowers, local officials are stepping up. Earlier this week, San Francisco assessor-recorder Phil Ting released a report concluding that 85 percent of nearly 400 audited foreclosures had serious problems or were outright illegal, providing a rare glimpse into the specifics of foreclosure fraud in America.

    “We really wanted to take a look at what the documents would tell us and whether or not it was something systemic,” Ting said. “We had a lot of anecdotal information but never knew if the problems represented 5 percent or 20 percent or 80 percent of the cases. What we have for the first time is hard data about the level of systematic problems going on in the mortgage industry.”

    Democratic Leader Nancy Pelosi (D-Calif.) called on U.S. Attorney General Eric Holder to follow up on the report’s findings and launch an investigation to determine if federal laws were broken.

    Five years into the country’s unprecedented foreclosure crisis, hard data about the exact nature of the mortgage companies’ abuses remains in short supply. Though federal officials insist they have investigated the problems, they haven’t released their findings, leaving the public to piece together the situation from individual stories of struggling homeowners. Ting joins a very short list of local officials who are trying to fix that.

    Last year, John O’Brien, the register of deeds for Massachusetts’ Southern Essex District, released a report stating that of the 473 audited mortgage loans — all of which were filed with his office in 2010 — 83 percent included erroneous documentation that made it impossible to know which mortgage company owned the loan. The ownership data is key because only a loan’s legal owner has the right to foreclose. More than 60 percent of the problem documents were fraudulent or included forged signatures.

    So incensed was O’Brien with the findings that in June his office announced it would not accept paperwork from any person or company known to engage in document fraud. “We published a certified list of people known to have forged signatures or signed documents they knew weren’t truthful,” said Kevin Harvey, first assistant register of deeds in the Southern Essex District office. “They’d come in and we’d tell them they can sign an affidavit attesting to the fact that they are who they say they are on these documents. Take a wild guess at how many affidavits have been signed. Zero! Zero!”

    Jeff Thigpen, register of deeds for North Carolina’s Guilford County, released similar data. His office conducted a study of 6,100 mortgage documents issued from January 2008 to December 2010. According to Thigpen, 74 percent had problems involving forged signatures and fraudulent documents. He has published on the office website a list of known offenders.

    “When I looked at my data, I began to wonder if my land records office had become a warehouse of stolen property,” Thigpen said. “And the great big question mark is if this will come back to bite the homeowner. A lot of the borrowers are still in their homes. But what happens if they try to sell it at a later date or end up in foreclosure, and the paperwork is messed up. What happens then?”

    Last week, the Obama administration and 49 state attorneys general announced a $25 billion settlement with five of the nation’s largest banks over allegations that the companies committed document fraud and wrongfully foreclosed on homeowners. To arrive at the settlement, federal officials conducted more than 10,000 hours of research and poured through more than 2 million documents. Yet none of the findings have been released.

    “Some documents related to the investigation will be made available upon the filing of a consent order in a federal court,” said Derrick Plummer, a spokesman for the Department of Housing and Urban Development, one of the agencies that investigated the fraud and negotiated the settlement.

    In the meantime, a handful of local officials continue to do their best to address a crisis that is nationwide.

    “What’s going on in Essex County, in San Francisco, in Guilford County are the same things going on all over the United States,” Harvey said. “And part of the reason why we don’t have more loan modifications for borrowers is because the banks don’t know if they own that mortgage because the documents are messed up. It’s all one big viscous circle. And until a major bank executive goes to jail over this, this will continue to occur all over the country.”


  113. AMan- you are most welcome.
    Joanne- I was half-kidding, let me see how it goes this week and I will repost with an update. I don’t know what shape this will take. One thing I can assure anyone, is that I won’t back down. While I have a ready smile and am quick with a kind word or a joke, depending on the setting, I have an intimidating presence, and always know exactly where I stand. So we’ll see.

  114. I sent proof of all my accusations to the county records department and Cheryl Shearer told me the county would only follow the lead of the attorney General Rob McKenna. I sent all the copies to Rob McKenna and was told to tell my story to the OCC, whom was of no help so far. We will see with more exposure. The one big help from the OCC is a letter you can pull from the web. Type in OCC letter dated January 14, 2005, national bank law does not preempt state law. On the first page. All these foreclosers and banksters claim they are not subject to state law due to the fact they are national corporations. Not true. They have been foreclosing unlawfully under disguise of being a national bank. They are subject to the state laws, therefore not in compliance with state law. See where MERS when it is convenient to state they are not beneficairies to have a case reversed in Nebraska, then on thousands of county records MERS claims to be the beneficiary to transfer the deed of trust on county registers to the fraud beneficiary to steal the mortgage. look up these! http://www.msfraud.org/law/lounge/MERS%20is%20a%20SHAM.pdf. look up

  115. @E. Toile,

    “In reality, I believe it’s all moot. It has to come down. THEY won’t allow for the rule of law, so THEY will have to be taken down.”

    You’re right. Can’t create something new from something old and broken. I’m waiting for the next couple of months. And pestering everyone running for any public office to push for a nationwide moratorium. Funny, though… As soon as you start demanding from anyone that they get off my panties and tackle the real issues, none of them speaks any longer. I still can’t believe that a person starts existing at conception (get off my panties, pleaaaaase!!!!) and Corporations are people too. As seen on a OWS poster: “I’ll believe corporations are people the day Texas puts one to death”.

    I blame a lot of that insanity on the press. They’d rather rile us up over trivialities than talk about the most important thing: however way our kids were conceived, let’s make sure they have a future.

  116. @Ian:

    “I could go on a fee-based system, where for every thousand bucks I recover, I get 15%- say,there’s an idea, what’s 15% of 20million, lets see now………..”

    I need a job. Still have a car if not a house soon. Will travel. Could I work for you? How soon can I start?

  117. Ian thank you.

  118. He must have meant 600 million, that is a lot of money, where has it gone to? The crooked attorneys negotiationg between fraud beneficairies and the homeowners and knowing they are do this? This false negotiations for “fairforeclosure” not fair keep your home act, a pat on the back, that we negotiated with you and you are still being foreclosed on by fraud beneficaries, so sorry act. You don’t qualify cause we the banksters have ruined your incomes and credit, so byby act..

  119. TMT/Shelley- In order to work from a position of strength, rather that making what would be unsubstantiated allegations, I feel that I have to have at least 10 cases in my hands to begin. If it goes quickly, I may have 20 or 30. At that time, I would suggest to the courthouse administrator that the county recorder’s office get involved. But, I know how long it took me to grasp this knowledge, I don’t know it all by any means, but I have memorized names, out of business entities, can read a Trust MBS title, ballpark the closing date, etc. I can paint a picture of hundreds of thousands of additional dollars coming into the county coffers if the fraud is stopped, and suits being filed in the 10s of millions for civil and criminal violations of the law. I certainly don’t want to shoulder the whole thing by myself, but will cheerfully do exactly that to get the ball rolling before I ask for help. Actually, I could go on a fee-based system, where for every thousand bucks I recover, I get 15%- say,there’s an idea, what’s 15% of 20million, lets see now………..

  120. I have checked some of foreclosures by Recon Trust from this site before. Tons of list


  121. The salient point that the press right now, and all talking heads from all sides, including government leaders and even the AG’s, miss is that this (robo-signing – fabrication- forged fraud docs, fraud assignements and fraud signers) is not about “mere” “victimless” paperwork transgressions making up for prior sloppy processing in order to be able to foreclose on people who cannot pay their mortgages so that the market can clear and the economy can recover.

    It is a FRAUDULENT CLAIM OF OWNERSHIP of a debt (mortgage)and a home (secured interest) by parties who have no ownership. That is why it amounts to theft .

    Using the “fraud” word:

    The fraud in the fraudulent recordings is a fraudulent claim of ownership by parties who have no ownership. There is no ownership of the obligation to pay and no ownership of the houses securing the obligation to pay. There is no right to enforce the point of sale even if the paper can be “fixed”. The fraud is that recorded parties and foreclosing parties are claiming beneficiary status when they have no beneficiary status in order to foreclose.

    Stopping this fraud does not preclude the real beneficiary standing up for their interest by declaring that a default has occurred to their interest, declaring the amount of the default that has occurred to their interest and proceeding with foreclosure in their own name. A fraudulent assignment from a servicer with no beneficial interest should not have been” necessary”. Why this is being done requires further investigation…. but a debt and a house is not owed to any party who is not a beneficiary.

    The Notice of Default is a fraud if the named beneficiary is not a beneficiary. There is no default to a party who is not a beneficiary or who is out of business or bankrupt. It is a fraudulent claim of ownership of the obligation to pay a party where no obligation exists to that party. The claim of beneficiary status by this entity is fraudulent. The trustee who declares this default has occurred to a non beneficiary is committing a fraud. The records produced to declare the default do not come from a party who is a beneficiary. This is also fraudulent.

    The ADOT is a fraudulent claim of ownership by a party who has no ownership of the obligation and no ownership of the security interest (debt secured by the home) and no ability to satisfy a lien or enforce the point of sale. It is a fraudulent claim of ownership by a party who never purchased anything “For Value Received” who was never assigned anything from the previous “owner” and who cannot sell anything to anyone else “For Value Received” or assign anyone else anything. It is a fraudulent declaration of beneficiary status by a party who is not a beneficiary.

    These are fraudulent recordings by parties who are fully aware that they do not own the obligation or the secured interest (as evidenced by their late date transfers, psa’s, sec filings, homeowner qwr’s ect). All states have penalties for this and fraud voids these transactions which is what should rightfully happen.

    The fraudulent NOD and the fraudulent ADOT actually undermine the legal status of a trust that gets named as a beneficiary. These trusts (or any other true beneficiary) need to stand up and declare their interest directly according to the rule of law or stand down and forever hold their peace (either collect what is owed as the debt to them stands today, record the NOD in their own name from their own records and foreclose in their own name – or release it in full in writing).

    No one should be in the business of awarding free houses or free payments to interlopers and thieves for any perceived moral reason (giving preference to the thief) or for any other reason (behind the scenes funny business). This has nothing to do with whether the homeowner is current on the mortgage or not. This should be held out of the consideration all together.

    There can be no modification or refinance or short sale or deed in lieu or foreclosure or sale until the true beneficiary is identified and the true beneficiary speaks up in its own interest from its own records and represents itself in court.

    Servicer collectors and associated trustee collectors making fraudulent declarations in the public record and in court should be prosecuted, penalized and purged from the record.

  122. No Ian, that is what I thought Rob McKenna must have meant. When he said 600 Billion a second time MY MOUTH DROPPED TO THE FLOOR. I never got the opportunity to ask him if he meant to say 600 billion twice.

  123. Sorry I left part of the story out. MERS transferred to RECONTRUST, and RECONTRUST has transferred her deed of trust on to the next fraud beneficiaries. And they are attempting to steal her house for free, not to mention the note is missing from the scene, of the crime.

  124. Ian, why don’t you get assisted from a county recorder to do your job? Your list is excellent.

  125. Ian, is correct, I find this blantant abuse on every county record I have exposed. It is rampant! In Washington state I have found piles of this abuse, on mine, my sons, friends, & relatives, on everyone of their documents in the county record. One friend is 75 years old wondering how her house payment went from $1,200.00 a month to over 3,600.00 a month where she has to let her home of over 31 years go into alleged default. Originated by Downey Savings and Loan, out of business seized by FDIC, transfers of assignments from fraud beneficiary MERS, (by an employe at RECONTRUST , whom is owned by BOA) and fraud beneficiary RECONTRUS, has just been ran out of the state of Washington for not being in compliance with Washington State Deed of Trust Act law nor WA CPA laws. Now assigned to new fraud beneficiaries by fraud beneficiaries, threatening forecloser by U.B Bank and most likely she will get a notice from Crabtree foreclosure mill soon, that took over for RECONTRUST, whom was ran out of WA, by Rob McKenna filling State of Washingon V. RECONTRUST, but the Rob McKenna about the same time receives over $14,000.00 dollars from Crab tree associtiates, for his governorship race, about Sept 2010. Recently this was exposed and Rob McKenna just returned the donations the first of February, stating their is no connection it was just a coincidence. I will leave it up to you to judge this one.

  126. ShellyErickson- he must have meant 600million, as their hasn’t been 600billion awarded collectively to all litigants combined. The huge NY settlement is,if it ever goes through, only 8.5billion. Most of the ‘settlements’ are under a billion, and there haven’t been that many of them.

  127. Rob McKenna said twice in a REIA meeting last week, that I attended to try to voice my opinion, but not was called on to voice my opinion, that the AG’s won over 600 billion dollars from Countrywide to help countrywide homeowners. WHERE DID THAT MONEY DISAPPEAR TO? I dont know of one Countrywide, BOA, US Bank, RECONTRUCT & MERS, VICTIM!!!! being victimized by these crooks getting one dollar of that help! I thought I was hearing a mistake the first time he gloated over the settlement, but he said over 600 billion again! My mouth dropped to the floor. We need to find out how to dig into this and find where the money disappeared to. Probably paid out to the foreclosure mill attorneys to drag the borrowers into foreclosure and fake negotiations. There is no end to the crimes against us.

  128. AMan- Again, I believe that almost any regular contributor on this site can do the following;
    1.Go to the county courthouse
    2.Pull up the list of recent foreclosures, or more precisely, those which have already been auctioned with ‘credit bid’
    3.Pick out 10 (or 5) or whatever time allows
    4.Go through the documents,make copies
    5.Highlight with markers, the blatant out of business entities, fraudulent subs of trustee, robosigner forgeries, AOM outside of cutoff date for ‘trusts’, etc.
    6. Show that person making credit bid is not entitled to do so,
    7.Show the amount that fake sale is costing the county’s budget.
    8.Make copies of reports, staple to docs
    9.Send to count commissioners,executives,selectment, judges,AG,FBI,
    centers for public interest,etc.
    10. Extrapolate costs as a %, by multiplying # of f/c by average amt.
    I am doing this in the next week, will let everyone know how long it takes and expense involved. Am in PA.

  129. Perhaps Nocera knows how corrupt our government is and does not exspect more help than a few bread crumbs. He is wrong! People contacting their government officials, voting out the bad guys and exposing the truth has taken us farther than any victims in the past, and we are still gaining on the crooks. Our anchestors suffered these crimes and our children will also, If we take these bread crumbs and thank our predators. We must continue to expose the truth and fight for justice and not except these outrageous bread crumbs. The settlement is not a done deal. Call, email and write your represenatives, that this settlement is unacceptable and you want them to withdraw from this settlement before it gets to appoint we have to start lawsuits against our officials for breach of oath of office and breach of duty to us.

  130. @Enraged….at the same time, I believe that Geithner needs to cough up that $75 billion dollars that Congress agreed to “gift” from TARP to aid borrowers in consumer advocacy.

    In reality, I believe it’s all moot. It has to come down. THEY won’t allow for the rule of law, so THEY will have to be taken down.

  131. @Enraged….ooops, my bad.

    I typed that wrong. Non-judicial foreclosures are ludicrous in this day and age, is what I meant to say. Believe me, as I’m in a foreclosure-by-advertisement state, and they get away with murder here.

    They need to have to prove their case, which we know they can’t do. Let’s bring this thing into the light.

  132. E. Toile,

    I read Chris’ post and, from what I understand, he/she is in favor judicial (and advocates to do away with non-judicial), which I agree with. You, on the other hand, appears to advocate the opposite.

    Question: Knowing that most people have suffered the most in non-judicial foreclosure states (except FL but there is something inherently wrong with the FL political arena and interests), why do you believe that going non-judicial all across the board is the answer? Just a question.

  133. @ Chris, you’re absolutely right. I brought this up with my AG in no uncertain terms….when faced with the ludicrous amount of verifiable and undeniable fraud going on, we MUST revert to non-judicial foreclosures only. Let them bring it on. It’s my belief that this would end the entire reign of fraud, as their documentation and practices cannot support a finer lens of review than they’re receiving now. Forcing borrowers to show cause is insanity!

    @Enraged, thanks for the heads up on the upcoming event. I take it I need to get out more, and away from these endless court cases. My hair’s falling out in tufts and another tooth just loosened.

    BTW, Yves Smith has yet another great floor speech going on over at NC about the San Fran deal:


  134. How do we ask the Attorney General to help us in our case? In an appropriate way?

  135. How do we get the Attorney General of California to testify in our cases?
    As an Expert Witness
    Subpoena her (is that appropriate?) to testify in light of this article?


    The allegations are deeply troubling and, sadly, no surprise to homeowners and law enforcement officials in California,” Harris says.


  136. @Chris,

    I agree wholeheartedly: non-judicial foreclosures are an atrocity to do away with. When I read the posts from people who fought hard, had all the proof and still lost because they coudln’t even get to tell their side of the story, it is simply… mind-bogglingly wrong!

    That being said, judicial foreclosure are not the panacea either. The card were stacked in such a fashion even there that something as elementary as “the claimant/plaintiff bears the burden of proof” has not been respected in many judicial jursidictions.

    When we say that the system is broken, it is exactly that. The system as it is, wherever it is and in any form, no longer works. In most judicial states, the rule of law has become: “Name it, claim it.” No need to prove it any longer. That’s where we absolutely must insist on upholding the law.



  139. the message is- you can only have the crumbs we decide you may or may not have you cant keep what you think you have and anything you ever hoped to have is ours too (whoever they are)( im talking about LIFE)
    we leveraged 10 times the”value” of your note and we are keeping the money because the government says we can, oh oops…we are the givernment, you dont know it but we can because we can see…and another thing chump if you go to court and fight you will be punished harder. you just have to understand its the way it is…
    so this is the rub, unless we fight like hell for decades and make up our minds not to lay down and let them take our human and legal rights 50 different ways then…who knows…there is no choice thats all im saying.

  140. Another thing I was thinking: Having recently acquired my original “work product” it has lots of ????? One thing stuck me: If I am to properly trace the documents and money, I need to know where the original paperwork was sent and how it was sent.

    Who did the closing attorney send the completed file too? How did he send it? If faxed, what is the number and party Attention to: If mailed: Where and to whom. I cannot even begin to track this stuff, if I don’t know where to begin.

    Folks, another thing, that needs to change: endorsement in blank, the UCC rule has GOT to be specific and penalties afforded anyone who copies and forges these documents, under Federal Jurisdiction, to use in any way, other than to hold, transfer timely into trusts and secure a lien on the property, from a “legitimate owner of the note”. Maybe we need an attachment or allonge (permanently affixed) to the filing and a verification of the party/parties, right from the start.

    Never mind this, fill-in-the-blank crap! What are we in 3rd grade here?

  141. You know, I affiliate this to any behavior, as long as it is not punished, it will continue.

    In my humble opinion, we need to get rid of, non-judicial foreclosures, for starters. The abuses in that “process” are now causing citizens to be denied due process. The entities filing in non-judicial matters are now either breaking the law or skirting so closely to the fringes of it, it needs to be revamped.

    As a society we should not be in a position of having to prove we, not they, are a party in interest, with the cost being so high, many of us cannot afford to buy “the truth”. for ourselves.

    Then we have the judiciary, who is deciding, for themselves (no lawful premise), what is fair and equitable, not the borrower, who has down payments, upkeep, upgrades, and a payment history. Judges who are making decisions based on personal preferences, need to recuse themselves or have charges of misconduct filed against them, as it is provided for under the law.

    Then we have the matter of the lawyers, who are milling out the paperwork to enable the thieves/buyers of the loans to take the property, unlawfully, without the authority. Many of them need to lose the very license that gave them the power to practice. Enabling or assisting a felony is punishable, not only under the Statutes in every state, but is against the pledge, when given your oath, as an attorney. In all of these discussion, the attorney is under the radar. Hmmmmmmm, all the paperwork we sign, in blank is derived and written by the lawyers, the foreclosure process is driven, by the lawyers, the judges are former lawyers and the AG’s making deals…yes, you’ve got it, lawyers!

    Semantics is not a game, when unlawfully taking one’s home. Let’s face it folks, even a criminal gets more rights under the law, than we do…at least they get a plea deal/offer? What have we gotten, as law abiding citizens. NADA…GET OUT of my house and don’t try to buy another, your credit is NO good, if you come to my bank! We’ll sell this baby at $.50 on a dollar and get someone else in here, “F” them other deadbeats…it’s like going to a pawn shop to sell something, this is what I’ll give you for it…hey, I have to resell it man…PUKE!

  142. Bonds Backed by Mortgages Regain Allure

    Bloomberg News
    Greg Lippmann made his name with big bets on a housing bust.
    Some Wall Street investors made money as the mortgage market boomed; others profited when it fell apart.

    Having reaped big gains during both of those turns, Greg Lippmann, a former star trader at Deutsche Bank, is now catching the next upswing: buying the same securities built from mortgages that he bet against before the financial crisis erupted.

    Mr. Lippmann is joined by other big-money investors — mutual funds like Fidelity as well as hedge funds — in riding a wave of interest in the same complex loan pools that nearly washed away the financial system.

    The attraction is the price. Some mortgage bonds are so cheap that even in the worst forecasts, with home prices falling as much as 10 percent and foreclosures rising, investors say they can still make money.

    Article Tools

    “Given its significant underperformance in 2011, we believe the product is as cheap to broader markets as it has been in a long time,” Mr. Lippmann, whose portfolio is heavy with subprime mortgage securities, wrote in a recent letter to investors.

    More broadly, the nascent recovery in the mortgage bond market supports a view that the housing slump may have bottomed out. Sales of existing homes are picking up. State and federal authorities have reached a $26 billion settlement with the big banks that is expected to provide some mortgage relief. And the Federal Reserve Bank of New York has been able to auction off billions of dollars of mortgage securities that it acquired as part of the financial crisis bailouts.

    “There is light at the end of the tunnel,” said Kenneth J. Taubes, the head of United States investment for Pioneer Investments, a global investment manager that owns these securities. “The mortgage crisis is getting behind us, and things are getting back to some semblance of normality.”

    That optimism is an about-face from 2006 and 2007, when Mr. Lippmann and others told investors that housing was a bubble ready to burst. On Wall Street, Mr. Lippmann became known as “Bubble Boy,” and one of his traders wore a joking T-shirt that read, “I Shorted Your House.”

    His exploits were chronicled in Michael Lewis’s best seller “The Big Short,” which described him as somewhat brash and crass. He was known for maintaining a sushi spreadsheet, where he ranked the top Japanese restaurants in Manhattan on ambiance, quality and cost. (He still maintains the spreadsheet.)

    These days, industry competitors describe Mr. Lippmann, who runs LibreMax Capital, as a more mellow presence. And he is much more positive about the market, telling investors that his fund is reducing its hedge against a potential market crash. Through a spokesman, Mr. Lippmann declined to comment.

    Others in the industry are also bullish, pouring money back into mortgage securities. Trading has surged in recent weeks. Prices have risen more than 15 percent in the first two months of 2012, after dropping by as much as 40 percent last year.

    “There was a lot of money waiting on the sidelines because yields were starting to look very attractive,” said Jasraj Vaidya, a strategist at Barclays Capital. “Lots of it seems to have come out now.”

    Yet the tide could turn again and wipe out investors. Chief among the risks is Europe: the Continent’s banks still hold a significant amount of United States mortgage securities, and if they are forced to sell assets, it could wreak havoc on the market.

    Washington is a question mark, too. If banks have to pay for loans they issued under dubious circumstances, it would be a home run for investors, who could receive full payment for a mortgage in a security they bought at a discount. But if borrowers whose houses are worth less than their mortgages are able to reduce their principals on a large scale, bond investors could suffer because the securities would be worth even less than they paid.

    “As a money manager, you can’t close your eyes to that potential outcome,” said Jeffrey Gundlach, a founder of DoubleLine Capital, who has been buying mortgage securities since 2008. “To believe that this time we are really out of the woods and the prices will not drop again is dangerous. People made that argument a year ago.”

    The mortgage bond market is a very different creature than it was before the financial crisis. For one, it is much smaller: very few residential mortgage-backed securities have been issued since the crisis. The market, at $1.3 trillion, is half the size it was at its peak and shrinks by an estimated $10 billion every month.

    Despite the limited supply, prices remain cheap, in part because the assets are difficult to value. Hedge funds and big investors use computer systems to analyze the underlying loans and estimate, among other things, how many borrowers will default and how much money can be recovered in a foreclosure.

    Take one security, JPALT 2006-S1 1A11, which was built from Alt-A loans, or mortgages that required little documentation verifying a borrower’s income.

    On the surface, the numbers are not encouraging: of the 799 mortgages underpinning the bond, many in foreclosure-heavy California and Florida, about 21 percent are more than 60 days late on payments.

    The annual default rate is about 7 percent, and of the homes sold out of foreclosure, investors take a 54 percent hit, according to data from Bloomberg. On average, about 5 percent of the homeowners refinanced their mortgages before they were due over the last 12 months.

    That bond recently traded at nearly 70 cents on the dollar.

    At that price, even if defaults and the losses increase, an investor can still make more than 5.4 percent, an analysis shows. In a rosier prediction, where defaults drop slightly and the losses on the sale of foreclosed homes stay flat, the bond returns nearly 8.7 percent.

    “Price is a wonderful thing,” said Chris Flanagan, an analyst with Bank of America Merrill Lynch. “Yields in this market range anywhere from 4 or 5 percent up to 12 percent.”

    With long-term interest rates close to zero, such returns are hard to resist — even for investors who were punished in the housing bust. The American International Group, whose mortgage securities were acquired by the New York Fed in its more than $100 billion bailout in 2008, has been buying back some of those bonds. And a former mortgage team from Lehman Brothers, which went bankrupt in 2008, formed One William Street, a hedge fund that manages more than $3 billion in assets.

    As for Mr. Lippmann, his reputation has made it both easier and more difficult to get commitments from investors. Some are impressed by his well-publicized bet against the mortgage market; others are turned off by his high profile in an industry known for secrecy and discretion.

    LibreMax, made up of several members of Mr. Lippmann’s team from Deutsche Bank, has raised more than $1 billion in a little over a year. His performance has been relatively strong during a period of market turmoil — up 2 percent last year and a little more than 6 percent since launching.

    Like his rivals, Mr. Lippmann cites his experience in the housing market — including its boom and bust — as a principal selling point for his fund.

    “Because we have a trading history, I think we understand very well how the street works, better than perhaps people who didn’t work in trading before that haven’t had that experience,” he said at a Bloomberg hedge fund conference in 2010.

  143. You can find the article in the NYTimes dated 2/17/12 by Joe Nocera. I agree, someone must have gotten to Joe. This is not typical of his writing. I’m very disappointed.

  144. Now I’m gonna shoot my mouth off. There is no “settlement”, there is no “resolution”. There is nothing but stonewalling from the banksters and fraudulent conveyances at “sheriff sales”. All the consent orders, jabber-jawing, and money grabbing means nothing for the homeowners.

    Check your states’ Uniform Fraudulent Transfer Act.
    Insert originator/depositor as Debtor, and insert the QSPE as creditor, and take it from there. No consideration for a defaulted loan to a trustee post closing. period.

    You all have been sold out on a promise to provide “relief for homeowners”. YOU GET NOTHING! Surprised? Don’t be.

  145. one reason might be to create a dispute as to the fact of the problem that otherwise may rise to judicial notice of a matter generally known and not subject to reasonable dispute

  146. May 2012 Global Day of Action,

    Program, links, resources.


  147. Schedule and program for M15 global action

    3.3 Occasional, from the working groups to concrete alternative projects
    This third phase will start from the Hub Meeting until the 1st. of May, helped by #Akropolis2012 from April 1 to 15 where a lot of alternative projects will be exposed and a lot of topics debated to learn from each others and take inspiration of other movements. During this phase every working groups will be connecting concrete alternative projects in holistic co-operatives and concrete actions in general non-stop protest, involving occasional people. It’s an interesting phase because we cannot imagine how will be the local or global situation but if we make of our best we will have for the first time concrete weapons against the 1% and concrete solutions for the 99%.

    The spring 2012 announcing big changes, the global movement will start to be coherent, and representing a real alternative, it will became dangerous for the old system and attractive for a big part of the populations.

    RevolutionS will can start…

    [edit] 3.4 Interested, involving the 99%
    This ultimate phase will start the 1st. of May for the international May Day but without end time. To integrate the interested people and catch the attention of the non interested, it will be synchronized in four steps, (of course all the information available on this document are extracted from the actual global agenda and everybody is free to create more meetings and actions locally and to propose it at a global level) :

    [edit] May 1: General Assembly
    The major unions and political parties will meet during the morning and we cannot perturb this traditional ritual (partisan, vertical, opaque…) but we cannot loose this occasion to give back this symbolic day to the 99%, making everybody converge in a big consensus about the next days of action.

    So it will be part of our strategy to call to the General Assembly of the 99% (horizontal, transparent, open…) at the end of the day to see how we continue the fight together, with for sure a big support (especially from the anarchists and radical left unions) because the main announce of the day expected by everybody will be the local/global plan for the 15M Global Strike and we will send a strong signal to the old politic: Or you support the politician gathering or the people assembly…

    This assembly will start with the process and it will be important to explain to everybody why we need self-management (to organize the fight, to coordinate alternatives, to take part of the decisions…) and how we practice the real democracy. The working groups feedback which be the occasion to present the movement, its cooperative projects and action plans, inviting people to join a group. (May 5, 12, 15…)

    It will be useful to start a project from this symbolic assembly, for example the redaction of a common statement, the decentralization to neighborhood assemblies, a self-managed found for the strike, creation of a central info point, marches to the occupation of working areas…

    [edit] May 5: General Bank Transfer
    To continue and rhythm this non-stop protest, the proposal is to start an international campaign for everybody to take their money out of the commercial banks and pass it to ethic banks (bank account), credit unions (savings), or invest it in ethic or alternative economy, or build their own financial institution, we can also promote the strike found.

    This action coordinate by “economic alternatives” but also “communication”, “direct action” will have two fronts: take the money out from the bankers’ elites, and also put more money available for sustainable projects who will contribute to everybody and help to heal the world.

    It will consist on a big campaign of information (texts, videos, conferences, actions showing what the traditional banks are doing with our money but also promoting the financial alternatives and the projects they finance. We invite all the communities to open the debate locally, to share this materials and create new ones adapted to their local situations.

    [edit] May 12: General Occupation
    Because everybody cannot strike, people added the 12 of May to the next global day of action for both strikers and supporters. The global movement will re-take the central squares, the best way to mobilize massively for the big Transition, opening platform of coordination of fights and cooperatives.

    Because we need a maximum of participation during the demonstration and the General Assembly to secure a good occupation of the squares, we recommend to reserve all the other occupations for the night, or for the days before and after.

    It’s important to organize the infrastructure and the action/resistance plan before the gathering but if you didn’t succeed in your occupation during this day, it doesn’t matter because the global non-stop protest make that everything can be reported to the next day…

    [edit] May 15: General Strike
    Starting of the transition Strike, a permanent flow or exodus from one side to the other where the people who was maintaining the system will stop to do it and decide to put their energy in alternatives projects. It is necessary the intensification of non-stop coordinated actions from one part and of the promotion of co-operative projects from another. Anti-authoritarian schools, people’s kitchen, kitchen gardens, cooperatives of credit, sovereign assemblies, self-managed factories, free shops/services, alternative medias…

    On the agenda: expropriation of public spaces, of means of production, of natural resources, of free energy, of everything the people will need to start and prolong this global change. It’s important to organize the infrastructure and the coordination of this exodus but if you didn’t succeed in your big transition during this day, it doesn’t matter because the global non-stop protest make that everything can be reported to the next day…

  148. Wikileak info on the forthcoming global May 2012 action.

  149. More on what will happen in the forthcoming weeks, worldwide. It involves Europe, the US, Russia, Brazil and many other regions. Followingis the schedule of events.


  150. @Neil,

    What Nocera article are you basing your diatribe on? Can we have a link or something so that we can read it for ourselves and draw our conclusions?

  151. Hard to say for sure. The change in attitude is suspicious.
    As we have seen time and time again, banks will go to any lengths to get what they want.

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