Politicians Reluctant to Address the Biggest Financial Crime in Human History


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


Editor’s Comment: 

With all the research that has been amassed over the past few years, and all the whistleblowers and others who have given depositions, all the homeowners and expert witnesses who have given testimony, lawsuits launched by county recorder’s offices and AGs across the country, it boggles the mind to think anyone, but especially someone vying for a leadership role in our country would choose not to address the biggest financial crime in the history of the world,…nary even breathe a word about bringing the perpetrators to justice.  The silence is deafening from both sides of the aisle.  Guess it’s never wise to bite the hand that feeds you.

The Political Dance

Louis J. Willie III, Esq.      lwillieatty@bellsouth.net

It’s hard not to speak in political terms when addressing the tumultuous housing crisis which has thrown so many homeowners into foreclosure.  On the one hand, you have the GOP field of presidential hopefuls who for the most part are espousing a hands-off approach.  On the other, you have the Obama administration practically falling over itself to find a solution, with Democrats from around the country still berating the President for not doing enough.

William Boone, associate provost and dean of graduate studies at Clark Atlanta University, said, ” a common theme of all the candidates (GOP) is that government’s job is to get out of the way.”

Whether listening to the shot-in-the-dark hopeful, Paul, or the current front-runner, Romney, the sentiment seems to be essentially the same:

Ron Paul – “Government should enforce contracts, not undermine them,” in regards to foreclosures.

Mitt Romney – “Allow the foreclosure situation to run its course and hit bottom, after which the housing industry will recover.  The right course is to let markets work.”

Instead of directly addressing what may be THE most significant problem in our economy today, the GOP hopefuls prefer to point fingers at the specter of government regulation, and seem to actually believe – at least for now – that less regulation will help to draw the country out of this crisis.

Activity in state legislatures around the country seems to be equally out of sync with the reality of the situation.  House Democrats in Minnesota are proposing sweeping protections for struggling homeowners and a crackdown on questionable lending practices. Yet, even its supporters admit it’s probably not going to happen this year, but in a state where an estimated 21,000 people lost their home to foreclosure last year, they say it’s worth the effort to start a dialog.

Oregon homeowners have been spun into the twilight zone by the machinations going on its State House.  After a comprehensive series of foreclosure protections introduced in the House was killed by Republican Leadership, a package of meaningful reforms to address the housing crisis passed the Oregon Senate with overwhelming bipartisan support.

After signaling no intention of moving that package, House Republican leadership introduced an amendment to the package late Monday afternoon that would unravel many of the provisions and undo some of the few financial protections that currently exist.

“We need to act now to protect Oregon’s middle class who are underwater on their homes or at risk of foreclosure,” said Rep. Brad Witt (D-Clatskanie), who introduced one of the original bills in the House to crack down on fraud and abuse in the mortgage tracking system.

“Any stalling, bogging the bill down, or attempts to go backward on foreclosure protections need to be called for what they are,” said Witt. “These legislative negotiations are following their own version of dual track: House Republicans have been blocking the bills and pushing giveaways to the banks while simultaneously pretending they’re trying to help homeowners.”

In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, the President believes that responsible homeowners should not have to sit and wait for the market to hit bottom to get relief when there are measures at hand that can make a meaningful difference.

Obama has unveiled more than half a dozen plans in recent months to help millions more Americans refinance their mortgages at low rates, to reduce the debts owed by struggling homeowners and to expand existing programs to broaden the pool of borrowers eligible for government aid. The latest initiatives, announced this week, seek to help members of the military and Americans who have government-insured mortgages.

In recent months Obama has used his pulpit to discuss housing far more than earlier in his term. After rarely mentioning the nation’s housing problems for several years, the president is directly confronting the issue, which he has called the “most stubborn” of his presidency.

Obama’s aides say the president has urged his staff to release the new proposals as fast as possible. This aggressive push reflects a heightened concern that weakness in the housing market, with millions of people owing more than their properties are worth, remains one of the preeminent drags on the fledging economic recovery, aides say.

We can only hope that the partisan rhetoric dies down long enough for there to be some reasoned, and rational, discussion of this issue.  Far too many homeowners have lost their homes already, and millions more are on the cusp of foreclosure.  Let us not stand idly by as our neighbors are affected, for tomorrow it may be us.

GOP rivals silent on foreclosures

By Ernie Suggs and J. Scott Trubey

Don Stewart has lived comfortably in his Conyers home for 38 years. But when he looks out his window now, the 80-year-old Southern Bell retiree shudders.

“Look. One. Two. Three. Four foreclosed homes I can see from right here,” Stewart said. “And they are all empty. It is scary. Frightening.”

It is a frightening situation throughout Georgia. The state’s foreclosure rate continues to be one of the highest in the country, and critics from Capitol Hill to metro Atlanta have blasted President Barack Obama’s fixes as ineffective. Now, with Super Tuesday looming, Georgia residents, policy wonks and economists are looking to the GOP presidential candidates for answers.

But among the candidates — Newt Gingrich, Ron Paul, Mitt Romney and Rick Santorum — the housing crisis has taken a backseat to broader economic issues and discussion of social issues.

“I think Newt has addressed it; I heard him talk about housing a few times,” Stewart said. “But I don’t think any of them have addressed it to the point where it needs to be. They could address it more if they wanted to; I just don’t think they know how.”

William Boone, associate provost and dean of graduate studies at Clark Atlanta University, said a common theme of all the candidates is that government’s job is to get out of the way.

“If we were to project, based on their current statements, they will say you have to tough it out and get by using market forces instead of depending on the government,” he said. “They claim that the cause of the problem is government regulations, so we need more deregulation to let the market work its will.”

None of the campaigns responded to calls and emails from The Atlanta Journal-Constitution requesting information about the candidate’s policies on housing and foreclosures.

In October, Romney said that, as president, he would allow the foreclosure situation to “run its course and hit the bottom,” after which the housing industry would recover. “The right course is to let markets work,” he said.

Romney also has tried to drop the housing crisis directly in Gingrich’s lap, assailing Gingrich’s work for Freddie Mac, a federal mortgage agency. Gingrich, who was paid $1.6 million by Freddie Mac, has denied that he lobbied for the agency, saying he worked as a consultant and historian.

Both Gingrich and Romney have railed against the 2010 financial regulatory overhaul known as Dodd-Frank, on the grounds that it has actually worsened the crisis.

On Paul’s campaign website, he says that “government should enforce contracts, not undermine them,” in regards to foreclosures.

Santorum, while critical of Fannie Mae and Freddie Mac’s actions during the boom that preceded the crash, last week blamed the recession on high energy prices rather than the housing bubble.

Georgia has the fourth highest rate of foreclosures nationally. In January alone, 12,467 homes — about 1 in 328 — were the subject of foreclosure filings, according to recent data from real estate research firm RealtyTrac.

With 4,600 government-owned foreclosed properties, metro Atlanta has more than any other in the country, including poster children of the real estate collapse such as Phoenix and Las Vegas. Among states, Georgia ranks second only to California.

“Without addressing the foreclosure issue, we are not going to stabilize the housing market and approach stabilizing the banking industry. All of it is inter-related,” said David Ellis, executive vice president for Greater Atlanta Home Builders, a trade organization for the residential housing and construction markets.

“None of them [the candidates] have distinguished themselves on the issue,” Ellis said. “We clearly will be watching to see which one develops a cogent policy related to housing.”

In other post-World War II recoveries, the housing sector generally led the way, said Andy Carswell, an associate professor of housing and consumer economics at the University of Georgia. But today’s housing market weighs on Georgia’s economic recovery like a ship’s anchor.

“We’re a top foreclosure state,” Carswell said. “You’d think this would be an issue that they’d address.”

Georgia lost 14,000 jobs from December 2010 to December 2011. But the state would have enjoyed a net increase of more than 1,000 jobs without the losses in the construction and financial services sector — losses driven by the housing slump — said Mercer University economist Roger Tutterow.

Eventually, foreclosures are bound to surface as a campaign issue, he said, but perhaps not until the fall. “We’ve seen kind of cursory discussions on housing and foreclosure, but we haven’t seen it elevated in importance as you’ll see later in the cycle,” Tutterow said.

Not every economist is eager to see the candidates concentrate on the real estate crisis, however.

The broader matters being discussed in the GOP primaries — entitlement reform, reducing government deficits and overhauling the tax code — could mean more to the economy in the long run, said Dorsey Farr, an economist and partner at the Buckhead investment advisory firm French Wolf & Farr.

The Obama’s administration has devoted a lot of resources to housing with mixed results, Farr said.

The debate “ought to be about more than one sector of the economy and how we can get it going,” he said.

Atlanta-based real estate agent Tal Kramer agrees that nothing done thus far to stem the foreclosure tide has lived up to its promises, leaving millions of families still foundering — but he still wants the candidates to talk more about housing.

Kramer, with Atlanta Communities Real Estate, said 65 percent to 70 percent of his firm’s business relates to foreclosed properties and short sales.

The housing bust “hurts the economy overall,” Kramer said. “But I’m the first to admit there are no simple answers.”

148 Responses

  1. Ed DeMarco, head of the Federal Housing Finance Agency — which oversees Fannie and Freddie — has stood in the way of (principal) reductions and he’s claimed the support of Fannie and Freddie. But that’s no longer the case. Even Fannie and Freddie now support principal reductions. It’s time for Ed DeMarco to step aside by signing this Whte House petition:


  2. @ johngault

    At this point nothing surprises me…anything IS possible.

    I do know one thing for sure, the lender is listed as RBC bank…We sent them a certified letter requesting information and they never even heard of my loan?

    Personally, I am beginning to buy many of the conspiracy theories…such as no money has been actually transferred on many of these loans. If that can be proven…none of us owe anything…and do not have a valid contract. Just that simple.

    One other thing; the originator did not have the funds to fund my loan, they were being borrowed from other places and 75% of their lending sources were cut off, due to the pending liquidation sale i.e. bankruptcy filing as my loan supposedly closed and funded 3 weeks before the bk…very odd! None of it makes sense. So, I keep coming back to the same spot, insurance and no funded mortgage…the paperwork leads back over and over to the same place.

  3. Chris – the only other thing I can add is that if you were ‘supposed’ to close two months earlier and didn’t for any number of reasons, they may have wired funds for closing and then when the loan didnt’ close as they thought, someone missed / forgot to return the funds. Someone has to pay the interest on those funds while they sit there, generally with the title co. (or used to be, anyway) And generally, the instructions which come with the wired funds direct the recipient to return the funds if the loan has not closed by a time certain. I’m not saying the pretend loan and its default if that happened are related to these funding mechanics, I’m just indicating how funding works a bit (or used to).

  4. @chris – that’s pretty much beyond my ken. The only thing I can make of it is that you and your info were used to pretend 1) there was a loan prior to you actually getting a loan 2) for the purpose of someone alleging default to get some default insurance. That’s pretty evil-wicked if so.

  5. john

    Criminal investigations were in process at the same time, for securities fraud…

  6. @ johngault

    Here’s what I’ve got, now keep in mind I did underwrite insurance and know some about how that works. (no expert on this though)

    My funds wiring page has 6 different players, and notes in blue on the bottom of the page, it is a copy (no indentation on back of paper, as it would have if it were signed after the fact) DATED: 12/21/2006. My loan closed on February 27, 2007. I have reviewed the originators audit and found excel sheets predicting defaults and insurance purchased for those “predicted” defaults. What if the originators were backdating notes they are in blank?), intentionally putting them in default (as mine was not at the time), nor was it sub-prime, I provided tax returns and found my application was fabricated.

    Here’s the other thing “insurable interest”…an originator has none, as they do not own the note, nor have they lent the funds…that’s one part…now, what if they back-dated the application, specifically to put it in default ASAP, for insurance proceeds?

    Then the States of MA, OH, CA, there’s more I cannot recall right now, issued cease and desist orders to stop them from doing business in their respective states, their investigation found “funding of the loan” did not happen on tens of thousands of loans, at the exact same time frame my loan was in process. I have looked extensively and cannot find my loan anywhere.

    Then they filed bankruptcy and transferred “assets” months after BK filing putting “supposed loans” into a trust, that is very suspect. And if I am not mistaken a 90 day time frame for transfer is in place, not 6 months.

    And you should see the assignments and POA…Ha,Ha,Ha..crazy assignments, with no lineage to connect authority almost all of them are forged and that I have…rock solid!

    The entire picture fails at every level, to me. Thoughts?

  7. Okay, chris, I’ve pondered it. How could a loan not be funded? Not saying it’s impossible – just pretty interested in the mechanics to support such a proposition. Failure of consideration (funding) probably voids any contract / agreement in the world. Hope so, otherwise the note may be enforceable in the hands of a HIDC.

    I’m no guru like most of us on insurance,
    but I’m not sure getting insurance on something pre-interest (assuming interest occurs) is a crime. I’m not even sure, although it seems likely, that getting insurance without interest is some kind of bozo no-no, but isn’t that sort of gambling limited to Vegas? I mean, no insurance co. would take that bet, right? Or would they, COULD they by their own regs take such a bet from a disinterested party? Seems likely it’d be against regs, or is it just imprudent? But, the issue seems to be to you pre-interest? The ins. co (the kind involved in this mess today) would take the premium or whatever, I’d bet, but they might just ‘decline’ coverage if it’s determined there were no interest on that date if a claim were made on a pre-interest date. If it’s regulated, which means no insurance pre-interest, the insurance company took an unearned premium. If you’re talking default swap, I can’t weigh in – don’t know enough about how they work. I’d be interested in your argument because that’s all i can come up with.
    I know that one old-time mtg insurance company went down recently because of all the claims (they fell below net-worth requirement). That m..i. company, tho, was not the kind that made the hope-this-loan-fails insurance. I bet that m.i. company was scammed left and right as to the guy submitting the default claims (for payment we never hear one word about – the same kind FHA is finally saying eat a rock to alleged insured parties about)

  8. @ johngault

    My money is on the tax consequence; however, what if the loan was never funded and to sweeten the pot, the default for insurance began “prior” to the closing and was deliberate orchestrated by the originator? Ponder that for a moment…

  9. re: investors threatening to sue over settlement losses to them (from abby): this underscores the importance of “agency”, a legal relationship which is being inferred and asserted just now by most courts in this country (against the homeowner essentially) when it comes to foreclosure. That’s a double-edged sword, dear investors. If the banksters are the agents for the trust in ANY regard, then the investors are out of luck, because as their principals, the investors are liable for the acts of the agent. If the investors want to say otherwise, the matter of the agents “acting outside the scope of their agency” can be duked out in court, just as the homeowners must duke it out in court when the agency is alleged on this side. Where is the sec’n trustee in all this? Does the fiduciary to the investors put the trustee on the hot seat for the acts of the banksters, like robo-signing, because acts of fraud, say, are against the investors’ interests?
    They can’t have it both ways. Servicers are agent one day to take a home, but not an agent in a fraudulent act like robo-signing?

    I haven’t read any more of Stubbs beyond what was listed at the link, which is some highlights from the ruling. If I see ONE more court
    allege an agency where the record produces no evidence of that agency, I’m going to throw up and then try to get a group together to picket that court. The Stubbs’ court called B of A, as servicer, an agent for the trust, think it was. Let’s see what it would take for that to be true (NONE of which was demonstrated):

    Originator sold loan to Wells Fargo, say. Wells Fargo sold loan to an aggregator or to FNMA or FHLMC (bear in mind that many loans in the bubble exceeded FNMA / FHLMC loan limits so went elsewhere).
    FNMA/FHLMC or an RFC sold loan to someone else we’ll call XYZ because I forget the word.
    XYZ sold the loan to the depositor. (We need enough players / note-transferees for the bk remoteness they needed). The depositor sold the loan to the trust – put loans “in the trust” and “took out” certificates, the derivatives, which it then sold to investors. Every one in this deal had to do some things: 1) pay for the note 2) take delivery of the note (possession) 3) endorse the note to the next guy (they can’t have skipped these endorsements with reliance on the initial blank endorsements IF for no other reason than the PSA’s call for all these endorsements) 4) meet delivery dates for these sales, keeping in mind they are all subject to ‘set’ pricing, like a sale of anything. The assignments of the dot’s had to be executed by everyone and delivered, even if not recorded concurrently (with MERS holding their places in public record as to the assignments temporarily, and that’s another story). All these docs – the fully endorsed notes and the assignments had to make their way to the trust custodian by a time certain as stated and mandated in the PSA – the cut-off date.
    Some document, some writing somewhere, had to specifically empower someone specifically to enforce these notes and their collateral instruments on behalf of the trust. That authority had to 1) go thru the trustee, whom itself would have had to be expressly granted that authority in order to make another party, such as a servicer, a sub-agent or 2) the authority had to be expressly granted to the servicer in some writing. Without these documents,
    there is no evidence a B of A is a servicer for anyone ( a rightful holder or hidc of a note and its collateral) to even delve into its alleged agency.

    Now, what of all this has been demonstrated in any case ever litigated? None, zero, zilch that I know of. What documents could legitimately/ factually tell a court a B of A is the agent of the trust? And to even ponder this, we have to assume for the moment that the language in the dot actually provides that MERS may act as a placeholder, because that is not the language they came up with for the dot, possibly making the dot a fatally deficient and defective collateral instrument. But even taking MERS as the beneficiary, everything still had to be done, certainly and inarguably as to the notes.
    And here I note again that while some, maybe even all, the folks in the act from origination to securitization may have been MERS’ members (although I hasten to add there is never ever any evidence of this submitted for appropriate consideration and I also hasten to add that MERS’ database can’t be relied on – really for anything – since it’s known to show entities which have long been toast as current members if for no other reason) ) so that MERS could remain their public record place-holder, the beneficiaries, and that’s what counts, of the trust are not MERS’ members. When the interest in a note goes to a non-member, the dot must be executed and recorded in the land records by MERS’ own rules and as a matter of reason/fact since MERS can’t do anything in regard to non-members (and that, too, is another story). So all these assignments to non-member-beneficiary trusts had to be recorded at the time of the event. UNLESS there is a writing which expressly states otherwise and that writing,like everything else, is evidenced to a court and does not conflict with the statute of frauds. Apparently, some if not all the PSA’s called for the assignment to the trust (or some malignancy such as a “blank assignment – as if because there is no such thing – a blank assignment on an assignment of a dot, unlike a blank endorsement on a note, can transfer nothing ) to be in recordable form. At first glance, this may appear to stand in conflict with MERS’ rules on mandatory recordation of an assignment to a non-member. But since the psa’s call for the assignment and the statute of frauds requires a writing, and nothing in the psa specifically prohibits its recordation, it’s likely the answer is that the assignment must have been recorded to the non-member at the time of the assignment to the trust since MERS may not act for non-members (IF it could act in any regard at all in the first place).
    Never minding even the psa cut-off date, where is the evidence any of these events took place? There isn’t any. The borrower did not create these circumstances. The borrower did not necessitate the unavoidable requirement that a court, or the trustee if non-j is being implemented and there is no litigation, have all the documentation which would demonstrate, ultimately, anyone’s right to do anything, and certainly, for the lack of this documentation, nothing is ever submitted to evidence the “agency” of an alleged servicer, or anyone, routinely and errantly taken for fact by courts. Courts even make this adjudication on their own, sua sponte more or less, which is mind-boggling and an outrage, really.
    Even if there were no trust as the alleged final home of these loans, if anyone other than the servicer owned the loans, it would not change the requirement for evidence of rights to anything, even though it’s more complicated because of 1) MERS and 2) securitization. Without 1) a chain of title, which unavoidably entails a chain of custody, of the note and 2) a chain of title for the collateral instrument and any attendant expressed agreements, no court may properly state that anyone has rights as to those instruments, including the right to appoint an agent or the existence of an agency in any regard.
    The next thing we need to attack is the cut-off date. Courts have held that the borrower has no standing to argue about the cut-off date. Maybe, but these are the same courts which are finding agency with no evidence whatsoever of agency. There may be a way to argue the cut-off date if we put our heads to it. Where I think we start is with one question: is it LAW which precludes a loan from getting into a trust after the cut-off date or merely an undesired tax consequence to the investors? If it’s the latter, the court would be right, I guess, but if it’s the former, we may have some ground to stand on.

  10. @ joann

    Here the District Court will throw out anything but Quiet Title. The Feds have to hear that case or you lose, by filing in the wrong jurisdiction. I don’t know about CA…




  12. @Chris


    Good suggestions as always. (and if truth be told most “lenders” could be said to have no jurisdiction in the state – no “Secretary of State” address and just have a “service address” and perhaps this is a defense actually)….

    I found this description online at uscourts.gov. I beleive the correct court in CA anyway for federal claims is the District Court. In my county the “Superior Court” is the local court.

    “The United States district courts are the trial courts of the federal court system. Within limits set by Congress and the Constitution, the district courts have jurisdiction to hear nearly all categories of federal cases, including both civil and criminal matters. Every day hundreds of people across the nation are selected for jury duty and help decide some of these cases. There are 94 federal judicial districts, including at least one district in each state, the District of Columbia and Puerto Rico.”


  13. It occurs to me, if we had a PI investiagate Congress and the rest of the DC clan,. you’ll find they probably have 1% loans with BOA!

  14. @ ian

    Me either…as you know, the fraud and forgery continues unabated. As far as NC, they are one of the few states that are trying to clean up some of this. We’ll have to wait and see.

  15. chris- is John Thigpen, recorder in Guilford County NC getting anywhere with his lawsuits or other actions? Haven’t heard much about him lately.

  16. @ joann

    One more thing: If you decide to sue them, try and get the complaint to the principle/agent of the company, just my opinion, or it can be thrown out for improper service. You might find that at the Secretary of States office, where their corporate offices are.

    Just my opinion, not legal guidance.

  17. @ joann

    All I know is in NC, non-judicial state, the only complaint that can be heard in District Court is Quiet Title. District Court is under the umbrella of the Superior Court, the difference is money damages (under 10k District/over 10k Superior), which you cannot get in District Court for Quiet Title actions. The District Court can also give you a TRO, injunction and a Lis Pendens that can be filed at the deed office, usually at the District Courthouse.

    Federal Court has jurisdiction to hear Fraudulent Conveyance and Cloud on Title issues, not District Court. If you want something heard in District Court, then minimize the money damages…got what I’m saying? Federal Court has the POWER to hear the conveyance issues and unmarketable title, while damages can be acquired for TILA, RESPA, actual damages and punitive damages, etc…a host of issues, the District Court cannot allow and has no authority (there’s the authority, even in court) to allow anything, but Quiet Title and they are relatively unsophisticated…you must educate many of them folks.

    Now, keep in mind this is not legal advice, just what I have learned and it is sharing information from one victim to another. Good Luck!

  18. I agree FM does not have the loan and their website is BS.

    I think the Stubbs case is just calling out one lie to disprove another lie. Reason why I like it.

    We soldier on.

  19. chas404 – There are no notes, no mortgages. Servicer does not own anything. BOA told me I had a FM loan and at closing I signed a fraudulent FM addendum to note and rider at closing. FM website said I had a loan with them, but Fannie Mae sent me a letter stating they had BOA repurchase loan. BOA fraudulently reported me being in foreclosure/bankruptcy and I never was but it states that on my loan history records. I have FM underwriting findings which you get from mortgage dept. and I never had a FM loan. My point is do not believe you have a FM loan just because their lookup states you do. You have to do lots of research.

  20. E. Toille et al…

    Per Stubbs…

    Just seems so obvious when i sent a QWR to wells fargo home mortgage asking where is my loan in the FM trusts they just write back go screw ‘investor’ is FM etc.

    Then a few months later the assignment for mortgage is MERS nominee of XYZ originator (that is long gone) to Wells Fargo NA.

    OK we all know FM directs service to forecloser in its name but legally they show NOTHING. I think they should barred from the outset.

    I also think the default notice is not per contract because servicer sends notice itself not even showing on behalf of FM etc.

    We will see it is game-on all in my lawyer’s hands I prefer to be more involved.

  21. There are NO politicians on your side. NONE.

  22. Kathy Charlotte,

    You are correct. Countrywide never kept its loans — all loans sold to — oh yeah — the party that purchased them.

  23. In my example below …. “Countrywide” was NOT the origional lender. It was a broker with warehouse funding and MERS lien was in favor of the Broker on the origional mortgage.

  24. Illinois is a Judicial and a Lien Theory state. (Lien theory i.e…. the title remains in the homeowners name and a lien is placed on the title in favor of the “lender” for monies owed to them. When loans were assingned into MERS and a “servicer” comes along and files a lis pendens (foreclosure notice on title to public), you are left with a clouded title. The mortgage lien is in favor of “Origional Lender”, So now lets say you have the MERS lien, Countrywide Lis Pendens notice “as owner of the loan” …. now comes along BOA claiming ownership and files a 3rd lien … claiming recievership via Countrywide. But wait …. you have 3 “unreleased liens” on your title for the same loan. …..” Chain of Title” aka ” Chain of Ownership of debt” ! With every sale must come a “release” of the loan sellers claim against the title. But this did not happen .. now the homeowner is liable double and triple jeapordy of paying the loan. You MUST have PROOF of Ownership to know the proper party to pay and that party is the party that can RELEASE the lien from your title. Who are you gonna pay? …Kent” …. p.s…. Try selling or refinancing with a “Corrupted Title” and see how far you get.

  25. Attorney Walter Keane was filing successful qt actions in Utah, but quit when some bs ruling came down in some other case. Now, he’s the attorney and he appears pretty darn smart. Still, I thought the ruling in that other case was garbage. He might have a good format in his complaints for qt, but I have been unable to find them. The complaints are filed in one of those courts which isnt’ on pacer. But, you can still request the docs from that court and pay for them and get them by mail……? If you google his name, you will find out why he quit the qt’s. He may have taken them up again – I don’t know.

  26. R.K. Arnold was the first to jump ship (or get pushed). He is the former president of MERS. While we doubt it’s likely, maybe this new
    exodus means some people have grown a conscience. Maybe there are people out there who don’t want their legacy to be that of a participant in organized crime. We need more whistleblowers. They must know, though, that should they be whistleblowers, they will be moved right into the deadbeat category when unemployment takes its toll. If the answer to one question – did you pay – remains the bar for losing your home, they probably know that a “but I had to do the right thing” still means kissing their home goodbye.
    I don’t know “what’s working”. One thing is to remove the wiggle room, the changing of stories in litigation by banksters, which entails getting them locked into one position we can then demonstrate entitles them to nothing. I’ve tried to come up with reasons a judge can’t dismiss to get discovery, like our need to know clearance as to whether a bankster is a holder vrs a holder in due course. A homeowner has
    affirmative defenses against a holder which he doesn’t have against a holder in due course. If you have an affirmative defense, they can’t get a motion to dismiss or summary judgment because there are
    justiciable issues, which is a good start. In order to determine if a bankster is a holder or hidc, they would have to disclose certain information, like how and when they came into possession of the note. What did they pay for it and when. One would have to study the facts which differentiate a holder from a hidc and then study affirmative defenses. I know one difference readily – if a holder took the note with notice of its default, he is not a hidc, and is subject to any affirmative defense you can come up with. What you really want by telling the court you can only determine your defenses is discovery. Without the info to determine if a bankster is a holder or a hidc so that you may determine your available defenses, there is no due process. One may not be parted from his property without due process. That’s black letter law. No one that I know of has used the salient difference between a holder and a hidc to get discovery. You might think well, that’s because it’s fluff. No, sorry to say the real reason is a lot of people don’t understand the difference. I didn’t always, that’s for sure. I had to learn it not that long ago.

    I also cited another reason yesterday at 1:39 for the judge to see that the court can’t make a determination without certain information before it, which was from Kemp, and if I were litigating, I’d certainly cite it. Here it is again (in regard to the note and double jeopardy of being presented later with a note from a real hidc):

    “These risks provide makers with a recognizeable interest in demanding proof of the chain of title.”

    I’ve never seen ownership status of a note referred to as a
    ‘chain of title’ before – I think of that in regard to the dot, but here it is.
    And in order to determine holder v hidc, it would necessitate disclosure of the chain of custody for the note and that oughta be a hoot.
    Koontz in Indiana attacked the assignment on the grounds that the person alleging to be a v.p. of MERS was in fact not even an employee of MERS and the judge threw it out. The decision is at scribd. If anyone tells me he or she is interested in the actual Koontz arguments used in getting this adjudication, I’ll go find them. I have posted Koontz (decision) before and I don’t know for the love of ivy why it hasn’t generated more interest.

  27. @chris
    “District Court or Federal Court?”

    Chris just wish to know – you have often mentioned there is a difference between District Court and Federal Court – maybe it is different in different states but in CA anyway isn’t District Court the same as Federal Court? Anyone? (Isn’t it Superior for local county courthouse for instance and then State and then “District” for Federal? – those are the options?….Showing my complete ignorance here….Obviously haven’t filed a case yet…..was working on quiet title for local county Superior Court for months but am rethinking and starting to draft for “District” (federal?) using 30 day TILA no notice of new “beneficiary” statutory penalty which has to be filed in Federal Court along with other claims including quiet title (which goes nowhere as far as I can tell from cases decided in my local Superior Court that then get appealed to “District” anyway if attorney and or homeowner persevere)…. So now thinking go straight to ….. District (Federal?) Court right at the beginning. Obviously have no attorney currently who can answer these simple questions – need a windfall to afford an attorney – keep hoping but in the meantime not wasting any time and digging out all I can on my own case.

  28. What Obama says and what he does are entirely 2 different things.

    And when he talks about “responsible homeowners” he means current on their payments. He just does not get the fact, that tens-of-thousands of folks lost jobs, are underemployed, they purchased reverse mortgages, refinanced and had illnesses…last time I checked it was not a crime to have fallen on situations that are out of one’s control. However, it is a crime to lie, cheat and steal homes at pennies on a dollar (taking significant losses), instead of helping folks, who are willing to pay, even if their home is underwater.

    My $.02 on the situation…

  29. Mr. Willie is to kind to Obama.

    “the president is directly confronting the issue, which he has called the “most stubborn” of his presidency.”

    Then why doesn’t he replace all the Goldman Sachs cabinet members he appointed?

    “In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery.”

    From the State of the Union Address:

    “The President is directing the Attorney General to establish a Financial Crimes Unit of investigators to work with U.S. Attorneys to go after large-scale financial fraud so that Americans’ investments are protected”

    That’s the answer! Sic Eric “Fast and Furious” Holder on the Wall Street mafia. I’m sure he and his buddies he brought from Covington and Burling can use their experience defending MERS in the aggressive prosecution of these gangsters.

  30. @ chas404, that Stubbs case is something, isn’t it? It’s the old physics problem….how can two objects occupy the same space at the same time? Either the GSE’s own the notes, or they don’t. Either the pretend lenders can prove up ownership or they can’t. Neither can have it both ways, no matter what Holder and his band of merry AGs agree to condone.

    Neil has remarked on several occasions on the issue of servicers having a valid pecuniary interest, only that it’s limited to the paltry amount that they make in the course of their duties. Yves Smith has talked on many occasions about how little these servicers make, that it’s a bare bones profit margin on a good day, which probably goes a long way towards explaining, along with a heavy dose of never before seen greed, why they’re tripping over themselves to raid the vault while no one in government is looking, or caring.

    So what this would seem to mean, at least to me, is that the servicers do in fact have a valid interest, but let’s take the time to calculate it, shall we? This pretending that they own something that they don’t is not only getting old and tired, it’s costing millions…well….millions.

    This decision is the way of the future imho. It’s simple science. Let’s do the calculations and stop with the sleight of hand. This shell game is destroying good people, and reducing our government into a pile of really shameful fools with their hands out at the trough. Enough is enough already.

  31. When I log onto the LL main page and click for the comments section, dozens of minimized (small) pages start popping up from upper left to lower right on my screen. After xing out of them one after the other, the screen goes blank before the comments appear. Anyone have having a similar occurrence?

  32. More music… I love it!

    Original Opinion
    Why Goldman Sachs Resignation Could Spark Seismic Change
    By Ben Cohen – March 19,2012

    Change from Below and Inside Could Topple Goldman Sachs

    By Ben Cohen: The departure of Greg Smith, the executive director and head of Goldman Sachs’s United States equity derivatives business in Europe, the Middle East and Africa, has made huge ripples in the financial industry. While there have been other Wall St bankers quitting the industry out of disgust, none have been as high profile as Smith, and none have published the reasons for their departure in the New York Times. Smith tore into his former employer, accusing the company of ripping off its customers and promoting dangerous culture of greed.

    He wrote:

    What are three quick ways to become a leader?a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.
    Goldman Sachs has been vilified by the media and pounded relentlessly by journalists like Matt Taibbi and Paul Krugman. The Occupy Wall Street movement has also focused much of its attention on the bank, making it about the most despised institution in America. The stock price hasn’t budged much since Smith’s departure, leading insiders to believe the uncomfortable affair was an annoying but inconsequential glitch. But just as Wall St only thinks short term, it may not have thought too deeply about the longer lasting effects. Taibbi, the journalist responsible for labeling Goldman a ‘Vampire Squid‘ believes Smith’s departure signifies the beginning of something more powerful than the popular movements going on around the country:

    Real change was always going to have to come from within Wall Street itself, and the surest way for that to happen is for the managers of pension funds and union retirement funds and other institutional investors to see that the Goldmans of the world aren’t just arrogant sleazebags, they’re also not terribly good at managing your money…..

    The only way to break this cycle, since our government doesn’t seem to want to end its habit of financially supporting fraud-committing, repeat-offending, client-fleecing banks, is for these big “muppet” clients to start taking their business elsewhere. Right now, many clients stay because they think that even if Goldman takes a bite out of them here and there, the bank still has the smartest guys in the room. But as Forbes writes this morning, this incident may turn Goldman into such a pariah that the best young bankers won’t want to work there anymore.
    The impetus for change comes from culture – and predicting when massive shifts in culture happens is difficult to do. Nobody foresaw the explosion of the Occupy Wall St movement, just as no one saw the Arab Spring coming. The seismic change in the Middle East started when a young street vendor, Mohamed Bouazizi, set himself on fire in Tunisia in protest of continuous harassment by the police and the confiscation of his wares. While war, political tension, and economic uncertainty across the region provided the fuel for the movement, one single event ignited protests that changed the political dynamics of a region.

    The resignation of Greg Smith may or may not be the beginning of something big, but more and more of these events are happening and one of them could provide the tipping point for an irreversible change in culture. Smith’s resignation was an important act of defiance, and a signal to other employees that they too can stand up for what is right. Another big name executive leaves, unable to live with the havoc Goldman or any other insidious banking institution is wreaking upon the economy, the shift in culture may become too big to stop. The conditions for serious change are there; the economy is still extremely fragile with high unemployment, massive job insecurity and spiraling inequality. Who knows when or where the ignition will happen, but as Goldman continues to disregard their clients and the well being of the economy, it is becoming clear that they are living on borrowed time.

    Change does not necessarily come from within institutions – it is unlikely that Goldman Sachs will suddenly go back to its more ethical roots. But when no one believes in the institution, it may simply fall apart.


  33. Such a pretty music to my ears…


    The Goldman Sachs Resignation Drills Into The Rot Under Wall Street

    March 19, 2012 By Joe Rothstein
    Editor, EINNEWS.com

    Why would a letter of resignation from a junior Goldman Sachs executive like Greg Smith create such an international furor? On the face of it, Smith’s parting shot should have found a final obscure resting place in the human resources files of Goldman’s digital warehouse.

    But the N.Y. Times chose to elevate the Smith resignation letter to prominence on its op ed page. And then Goldman Sachs and much of Wall Street went nuts reacting to it.

    Why? Because Smith’s letter hit an exposed nerve. All involved know that what Smith said rings true. Smith drilled right through Goldman’s excesses into the rot and reality of the U.S. financial system.

    At its highest levels, U.S. capitalism has become a grab-what-you-can-when-you-can-and-run game divorced from traditional goals such as helping businesses to succeed and serving as a vital lynchpin in long term national growth.

    The American Banker magazine has just published a two-part series about a Chase employee fired because she objected to Chase turning over to a collection agency $200 million in credit card accounts, many of which had never been verified as having overdue debt or owing anything at all.

    The biggest banks in the U.S. are trying to settle up with the federal government for foreclosing on individual mortgage holders with robotic efficiency that barely noticed whether foreclosures were actually warranted. These are mostly the same banks that brought on the current worldwide financial catastrophe by making trillions of dollars of bad bets with money they didn’t have.

    As business columnist Steven Pearlstein writes in the March 18 Washington Post, “What we know from painful experience—from the mortgage and credit bubble, from Enron, Worldcom and the tech and telecom bubble, from the savings-and-loan crisis and the junk bond scandal and generations of penny-stock scandals—is that financial markets are incapable of self-regulation. In fact, they are prone to just about every type of market failure listed in the economics textbooks.

    Robert Reich wrote last week “There is moral rot in America but it’s not found in the private behavior of ordinary people. It’s located in the public behavior of people who control our economy and are turning our democracy into a financial slush pump. It’s found in Wall Street fraud, exorbitant pay of top executives, financial conflicts of interest, insider trading, and the outright bribery of public officials through unlimited campaign “donations.”

    What we have here is not a few financial executives gone rogue, or a company gone bad. It’s an entire system that’s lost its way—and dangerously so for the rest of us.

    About the same time the N.Y Times was publishing the Greg Smith letter I sat in on a session at Brookings where the topic was “Corporate Governance and Long-Term, “Patient” Capital.”

    Beneath that fussy title was a lot of alarming data and perspective.

    For example, Delaware Supreme Court Justice Jack B. Jacobs pointed out that institutional investors now control about 70 percent of the stock in public companies. These institutions—hedge funds, equity funds, pension funds and the like—are far more interested in short term gains than long term growth. And those who manage companies in those investment portfolios have huge compensation packages tied to quarterly share prices. There’s little little incentive to resist short term pressures.

    Lawrence E. Mitchell, dean of Case Western Reserve’s law school, pointed out that fifty years ago companies retained 60 to 70% of their earnings. Today it’s 3%. Investments in growth are financed by debt, which fundamentally changes the dynamics of business decisions and increases company vulnerability.

    At the top of the financial pyramid, where millions, billions and even trillions trade through lightspeed-like sophisticated software programs, insiders have every advantage and instant profits are the overriding goal.

    All of this is disconnected from a healthy capitalist system where long term business growth and stability is anchored to prudent financial management and where banks exist to efficiently channel capital.

    What incentive is there today for company managers to invest heavily in R & D that may pay off in five to 10 years? Not much. Not when those managers are shoved under the earnings microscope every three months.

    And that’s really the problem, isn’t it? Incentives.

    The system needs to reward longer term horizons for investors by taking less of a tax bite out of patient money and making short term windfalls less profitable. Incentives need to protect good managers who want to run and grow stable businesses instead of loading them up with unsustainable debt. Incentives need to steer companies and their acolytes in the legal and accounting worlds away from illegal behavior by enforcing severe punishments for stepping over the line.

    What we call “capitalism” has developed systemic failures that reward the bad and punish the good. Until that changes we will continue to be easy marks to have our pockets picked by the handful of too-big-to-fail financial institutions that are too big to know right from wrong. Or even care.

    (Joe Rothstein can be contacted at joe@einnews.com)

  34. Please comment on Stubbs vs BAC/Fannie Mae in Georgia.

    Deals with the fact the servicer sues claiming to be beneficiary of note/mortgage meanwhile in reality we all know it is FM.

    Plus MERS and FM website show it is FM.

    Makes you want to pull your hair out!

  35. chris- the Countrywide case to which you are referring is Kemp v. Countrywide, was early 2011 I think, in NJ. The witness’s name was Linda DiMartini, she said that ” it was not countrywide’s practice to convey the notes to the trusts, that they (countrywide) held them.
    To which CWs attorney interjected ” she doesn’t know what she’s talking about”. DiMartini was flown in from CA for the hearing, and was with CW for, I believe, 13 years in charge of that particular dept.

  36. At the end of the day what I would like to know:

    Has anyone here been successful? If so, what state are you in? Non-judicial or judicial? District Court or Federal Court? And can you share how and why you think you were successful?

    No matter how much we talk about this, no one seems to be gaining ground. I know I have have proof, but the court has not heard my case yet. Have filed breach of contract in District Court, Fraudulent Conveyance and Cloud on Title in Federal Court, been over a year and no dates yet. Still waiting on discovery for Federal Court.

    As to CW, I know I read somewhere, have to research back, the note and deed were in fact kept in CW’s files, a building near the main office. Didn’t know the relevance at the time, was still trying to educate myself about this process.

    It occurs to me, no matter what we have, we need two elements to win: the judge, needs to be educated or recused and the case has to be presented properly.

    The lawyers are just lying and twisting the facts. For me, we cannot get past the lawyers being complicit and a big problem here. The bankers are not writing the contracts, nor are they the ones in court with forgeries. I filed a claim yesterday with the OIG. I’ll let you know what, if anything, comes about.

  37. Georgia has the fourth highest rate of foreclosures nationally. In January alone, 12,467 homes — about 1 in 328 — were the subject of foreclosure filings, according to recent data from real estate research firm RealtyTrac.

    There is a reason for this and it involves every other states foreclosure. If you can, ask your counsel why. If your lawyer cannot answer the question , your at a much greater chance of failing in your forclosure efforts.


  38. I made a blunder re: Kemp. I re-read my notes. Mers assigned the dot on 3/14/07. (also tried to assign the note) I’m still wondering if it’s possible, fwiw, that the deeds of trust were actually transferred by the psa language (this would be an assignment valid between the parties, just without notice required for enforcement imo).
    And, I note the comment after the judge’s signature is interesting:

    “A power of attorney dated November 15, 2005 was submitted, affording Countrywide Home Loans Servicing, LP, not Countrywide Home Loans, Inc. the limited opportunity to perform all necessary acts to foreclose mortgage loans, dispose of properties and modify or release mortgages, presumably the authority to submit a proof of claim
    in a bankruptcy case. ” I don’t know who granted this authority – would have to review the whole case to find out. Yawn.
    It was Countrywide Home Loans, Inc. which filed the proof of claim (not the party with the alleged authority pursuant to the poa).
    What strikes me here, besides another party having the poa – not the claimant – is that a poa was submitted at all given how they are being ‘skipped’ in every other case wherein one party allleges some authority for another. Plus how does this poa jive with the recitation regarding MERS foreclosing in the dot? How many more poa’s like this are outstanding and what are the ramifications?

    According to CNN Money, B of A purchased “Countrywide Financial Corp.” , relationship to CW Home Loan Servicing, LP and CW Home Loans, Inc. unknown to me this minute. At any rate, the info in Kemp may be helpful to those whose loans originated with or were brokered or sold to Countrywide because of the admission that CW never transferred the notes to trusts (yet the investors paid for their interests…….hmmmmm……) I believe that just like when a party has a right to an assignment of the collateral instument – he can sue for it – he can also sue for possession of a note he bought. Significantly, in both cases, he doesn’t have it til he has it. But because of sec’n and trust law, this gets dicier because it won’t do him any good after the cut-off date, right?

    Btw, there is a reason that the locale of a note being executed is always, always on a note. The reason I have always been taught is because that is the (home of the ) UCC which governs the note: executed in Maine = Maine UCC, executed in NM, NM UCC governs, and so on. Courts have always been relying on the state in which the note was executed – is this error because of securitization and material differences in (NY) trust law? I wish I knew.
    Hate to muddy the water any further, but this has been bugging me for a while now. Anyone know 1) are there material differences and 2) which rules?

  39. Securitization, to be fruitful, REALLY fruitful, they had to destroy the notes. That’s the only way they could do this:

    …. “we ran a random audit on WaMu Mortgage Pass-Through Certificates, Mortgage Loan Trusts. One loan was found in 6 different trusts, another loan was found in FIVE trusts’ original SEC loan level data, 39 were listed in 3 trusts, and 503 were listed in two separate trusts.”


  40. @john Gault,

    Seems that a lot of originators did exactly that.
    I have seen PNs from about ten different originator
    deals where only MERS was updated and no,and I mean no
    other paperwork was done.Not even the blank endorsement.
    In my own case.Originator still on PN ,no endorsements at all.
    MERS shows Merrill Lynch as HDIC,and US Bank claims to be HDIC as trustee.
    Mortgage Deed assigned to MERS by originator under nominee
    So my originator, who has not caught on about the PN has
    assigned MD away.so cannot enforce the security interest ,
    because they assigned it away.
    Moral of the story ,if you’re dealing in a shell game do not
    take your eyes of the shell.

  41. But the psa’s also call for an individual assignment of the dots in recordable form, right? So that would be weird if the psa language actually suffices as an assgt of the dot (altho it’s entirely possible that if true, that gang was too unsophisticated to get it – they were too thick to get a dot right, UNless the mess they created was willful). It’s odd and certainly worth noting and debate that the banksters did not want the called-for assignments recorded. The investors are the beneficiaries of the sec’n trust, and they are NOT MERS’ members………….. The banksters have alleged the trustee of the sec’n trust is a MERS’ member. Big deal even if so. The trustee is not the beneficiary.

  42. @hman – last week I offered fwiw an explanation of why Aurora could give you a copy of the note (and then gave you one with new end’s). I said they had a copy in the origination file which servicer’s maintain. This copy would have the original endorsement from the originator, generally in blank, because those end’s are done immediately after closing before the original note is shipped off somewhere (used to be to the warehouse bank; now I don’t know where). But I just re-read Kemp wherein it was determined that CW never transferred poss of the notes to anyone, including the sec’n trustee (in Kemp it was BONY). This leads me to imo reasonably question a couple things: how many banksters could be found to have operated the same as CW, including Aurora? It appears what they did was enter (strictly voluntarily) the alleged sales of the notes in MERS’ database and just didnt’ “get around” to the physical transfers and other endorsements required and we know they didn’t get around to the assignments of the dots, imo relying on a misunderstanding that MERS’ nominee status 86’d the requirement to execute the assignments though unrecorded. But, interestingly, the Kemp court found the collateral instrument had been transferred to the trust (pretty sure I got that right) and I don’t know why without reading the whole stinking case,which I frankly don’t wanna do. It wasn’t by a ‘traditional’ assignment, because no assignment of the dot was mentioned specifically in the opinion, whereas we got chapter and verse of other salient issues. MERS didn’t seem to be at issue in Kemp.
    It might be that the court recognized an assignment of the dot by way of the psa agreement, i.e., a “blanket assignment” of the dot’s and I don’t remember or now know how this squares with a writing to effect an assignment of a dot, but it’s possible it would (whereas the court did NOT recognize alienation of the note to the trust in this manner, citing the UCC). This assignment of the dot is significant because if that (the language in the psa) is the path the court found to have effected an assignment of the dot to the trust, then MERS would be out of the picture for sure, and that would be true for EVERY dot assigned to a trust by a psa.

    The court cited certain provisions of the psa, notably section 2.01(g)(i) in regard to the note …. “with all intervening endorsements that show a complete chain of endorsements from the originator to the Person endorsing the note (to the trustee)”. How many at a minimum would this be? This isn’t necessarily relevant this minute to your case, but nonetheless it’s a question which needs an answer, I’d say.
    So what I may be getting from Kemp is that 1) CW held the notes,(how many other banksters did as well?) 2) the psa may have effected an assignment of the dot, 3) if 2 is factual, MERS was toast at that moment, would it not be? 4) If an assignment of the dot were effectuated by the psa, but the note didn’t get there, there is bifurcation and also the note is unenforceable by anyone, as is the dot.
    It isn’t news that the notes didn’t get there, but it may be news that the psa effected an assignment of the dot and what those ramifications might be. Kemp was also good for a couple things:
    “Mere ownership or possession of a note is insufficient to quallify as a holder”, citing Adams v. Madison Rlty & Dev. Inc., 853 F.3d 163, 161 (1988). You can find more on this case in Kemp on p. 14 of the opinion. Also, in discussing the risk of double jeopardy regarding a note, the Kemp court stated, “These risks provide makers with a recognizeable interest in demanding proof of the chain of title.” And as I’ve advance before, because the defenses to a note vary greatly against a ‘mere’ holder v a hidc, (a mere holder is subject to all the affirmative defenses not available against a hidc), I would borrow the Kemp court’s language and also opine that these salient differences “provide the maker with a recognizeable interest in demanding proof of the (alleged) holder’s status as either a (mere) holder or a holder in due course.”

    fn: No one brought up the bifurcation which occurred here imo. If the coll instrument were transferred to the trust, but the note weren’t, and it was found in Kemp that the note wasn’t, it looks like bifurcation to me.

  43. @Chris,
    Fascism or Communism.
    Both require a front man.
    In communism the state controls the business community.
    In fascism the business community controls the state.
    Everything else is the same.

    Our current Dear Leader will do as the front man
    He is easy to manipulate.
    His phoney birth certificate may as well have been signed
    by Linda Green.Its not even a good forgery.
    So he can be dispensed with at will if required.Or
    blackmailed in place.
    I do not know which is the bigger tool/fool .
    So I just call the two Obumney now.

  44. @chris,
    It way more alive and thriving well than maybe even you think.
    Look at this signed by Obumney the other at.


    Then go look at

    Read those and then tell me me you’re not scared for yourself
    and family.
    My father spent 5 years fighting German and Japanese fascism.
    He would be rolling in his grave if he had not been cremated.
    They are not even hiding it now.
    Says a lot.

  45. Yeah, john

    I hate to be the voice of disagreement, but Fascism is alive and well. “Fascism”: a political philosophy, movement, or regime that exalts nation and often race above the individual (minorities and illegals, come to mind) and that stands for a centralized autocratic government headed by a dictatorial leader (Czars, Obama) severe economic and social regimentation (top 1%, educational dysfunction and lack of access to basic needs for many), and forcible suppression of opposition (censorship and police assaulting those under, the right to assemble).

    Then add the ability to commit felonies, for financial institutions and conspiring to cover-up those same felonies and the information needed to purge the systematic breaks, judges disregarding the rule of law…now, I know this is strong and I have been having trouble even thinking this is possible, but really. And this is the tip of it!

    There are many countries that have a socialistic government and it does work at some level, but Socialism with no democracy cannot work, nor can pure capitalism , which is what is in play. We need a hybrid of these functions and they can work…but our government is self-serving and cares for no individual, none.

    If the presidency cannot be bought, how is it only multi-millionaires get elected? Where are the average, educated mindful folks, who can do a better job? There are people right on this site that can do better. Just asking.

    That’s just my opinion, so don’t be offended.

  46. @john

    Hear! Hear! Alll Hail the King!

    A revolution is in order – just what form that should take is the question. Knowledge is power. Knowledge to the people.

  47. You must have missed the coronation,think it was
    CNBC. Uncle Warren played Arch Bishop,Blankfein
    carried the Orb.,and Bernanke was on the fiddle again.
    Jim Cramer led the choir.
    A Great time was had by all,and the bill was sent via
    Tim Geitner.to us,the taxpayer.

  48. @chris

    “He who can buy/votes”

    It still comes down to the voters who vote. No one ever paid me for my vote (at least not directly – maybe with broken promises never fulfilled).

    We are smarter and more instantly connected than ever before. Money can buy the media and the politicians and congress and even the courts as in citizens united and money can buy the lobbies but voters see through that like never before or have the ability to see through that like never before. Pretty hard to pay a voter directly for his vote (even though that can be done too as in third world).

    Voters are ripe for opting out of the money machine. We get it like never before and we are sick of the corporate paid talking heads. We are sick of being made the dunce. We are starting to get it from all sides (even divided political sides) that corporations and govt are currently in the same dirty business at the expense of individuals and small business (biggest employers). There is enough in this now accross the board understanding to make any conservative or liberal fighting mad and directing that energy at each other right now amounts to a diversion that serves a common enemy. I am waiting for someone to call this bluff. On one side big corporate rule has sold out and undermined the republicans who are in favor of free enterprise for small business and entrepreneurs and they don’t get it yet. On the other side big corporate rule has sold out and undermined the govt. that democrats thought would protect the rights of individuals and they don’t get it yet.

    Passively accepting that money rules is not why this county was founded. We might as well crown Jaime Dimon King which is maybe what we have already done…….it can be undone and now is the time. An even if futile worthy men and women have died trying in ages past. We don’t have to die today….if there has to be a revolution – just stop paying the King until our elected “leaders’ get the message.

  49. The inter-pleader route taken is the only way to take
    on the Fed.Govt. without getting leave.
    Glad someone has their head screwed on up there.
    Now we need on honest Judge whose pension is not invested
    in trash RMBS securities..
    I would rather have had S.New york Fed Court as a venue,
    but it had to be filed in the District of Crooks I suppose.

  50. @Joann,

    Like all frauds as Neal has said.
    Follow the money.
    I do not believe all the money went on outrageous Wall
    Street bonuses.It was ‘corzined” and hidden somewhere.
    Without the Federal Govt looking for it ,we will never find it.
    A few RICO charges could certainly shake it out woodwork.
    But that’s not going to happen ,because these thieves unlike
    the S&L thieves made sure to shower their “contibutions”
    around before the event..
    There will be no justice ,unless we dispense it.

  51. Unfortunately, money trumps…He who can buy/votes, buys the election and wins! Unfortunately reality of things.

  52. sorry i didnt explain.
    homeowner suing state court[s] in federal court under

    very person who, under color of any statute, ordinance, regulation, custom, or usage, of any State or Territory or the District of Columbia, subjects, or causes to be subjected, any citizen of the United States or other person within the jurisdiction thereof to the deprivation of any rights, privileges, or immunities secured by the Constitution and laws, shall be liable to the party injured in an action at law, suit in equity, or other proper proceeding for redress, except that in any action brought against a judicial officer for an act or omission taken in such officer’s judicial capacity, injunctive relief shall not be granted unless a declaratory decree was violated or declaratory relief was unavailable. For the purposes of this section, any Act of Congress applicable exclusively to the District of Columbia shall be considered to be a statute of the District of Columbia.


  53. The single issue that should be at the forefront of political debate and mainstream media should be the critical emergency need to fully identify the origninators, foreclosers and collectors and their legal standing to be doing anything much less receive taxpayer windfalls or settlement bribes.

    The MBS origination and servicing fraud at the root of U.S. and global collapse must be exposed. The question “Why?” needs to be asked over and over again when it comes to rampant fraudulent recordings in 100% of courthouses and the perjury and fraud on the courts by attorneys working for banks who know better.

    Exposure of tax evasion, money laundering, balance sheet manipulation, trading fraud, fraud on investors (not just sloppy underwriting but multiple sales of mortgages and insurance, advance trading profits and phantom funding and and)and the on-going fraud on homeowners needs to be exposed.

    Ask the question Why? Now. And stop the fraud in its tracks. If the current administration or any proposed new administration does not take this on right now as its primary issue we will remain stuck in 2007-2008 perpetually and a further collapse is inevitable.

    I truly believe that a politician that clearly understands what has been occurring and who can articulate it and who is not afraid to articulate it will win any election hands down. There are more votes in the people harmed by this (everyone) than there are dollars to pay politicians to dumb us down. We pretty much on all sides agree these days that Washington it bought one way or another and we pretty much all agree that we are sick of it. We are sick of campaign rhetoric and campaign government. So where are the candidates that get it that they can win if they stop playing that game?

    It would be so refreshing and inspiring to hear a bold new voice…..people who have tuned out would tune back in. People are stuck on mindless conservative liberal rants, Time for a few free thinkers – is it too much to ask?

  54. Here what I was thinking:

    Suing the Government for Negligence: The Federal Tort Claims Act
    If you are injured by a government agency, you may be able to sueunder the Federal Tort Claims Act.

    Thoughts anyone?

  55. @Chris,

    They had to be given leave to bring suit.
    It happens every so often when it favors TPTB
    usually because they are sure they will win,
    or conversely they want to lose as political cover
    for something. else.

  56. @ All

    Doing research here, Ct State police filed suit against Federal Government, so did Online casinos…

    Can be done, just a matter of right cause of action and whether or not certain activities give them immunity. Still checking and made a complaint to the OIG:

    The proposed bank/servicer settlement is a travesty of justice. The settlement in essence deprives people of “due process” and victimizes homeowners and taxpayers financially, again and again, by using taxpayer’s funds to bailout institutions that have no losses, nor have acquired proper, legal authority to foreclose on its citizens homes.

    Settlements by the attorney generals have no merit and are being made contrary to the citizens of the United States of America’s best interests. There is a vast transfer of real property involved in this fraud by bankers, servicers and originators, whereby, these entities have forged paperwork, committed fraud openly and proclaim to be “owners” of real property that does not “legally” belong to them. This behavior is enabled by “legal representatives” with impunity, while the entire countries real estate market has been diminished in equitable value, titles are “unmarketable” and losses in the real estate market are beyond recoverable. Anyone who “intentionally” commits fraud (see elements of fraud, Blacks Law Dictionary) and forgery to acquire “goods and services” under false pretenses is a CRIMINAL, under the laws of the United States of America and should be prosecuted, post haste.

    This complaint is valid and legal, as state attorney generals do not have a “right” to speak for and work toward cash settlements, which do not make home owners, whole in their entirety. This settlement does not address the underlying problem beset by “immunity” to anyone who has “intentionally” broken the law and collected proceeds from homeowners who “are a party in interest” as provided for on the “note and deed” and have monies invested, that exceed the lenders contribution, where the parties “committing fraud on the court” do not.

    Attorney Generals salaries are paid for “by the citizens” and should act in accordance with that responsibility, not the criminal element. The settlement terms are jaded and do not in any tangible way lead to relief to the real victims, the homeowners. The documentation available proves this out. And as a footnote, if I an unsophisticated homeowner can find the information and provide actual evidence of this fraud, why can’t the SEC, FBI, OCC and the Attorney General and use the information to protect its citizens, not the perpetrators?

    In closing, we as the “sovereign citizens” of this United State of America demand accountability, by and from our public servants. Our Constitution provides for that protection. We have numerous documents in place and agencies that protect us from criminals, terrorists (which is what this is, per Homeland Security definitions), and treasonous activities, that harm, impede, deny and restrict access to legal protections/remedies, by our government, for its citizens.

    Christine Konar, NC

  57. @enraged,

    That will have to wait on my wife if I can persuade her to
    go into our attic to get the hard copy down.
    I only have one leg so I cannot do to it myself.
    I know I printed it off,as I was sure the page would be “lost”
    online at some point .
    Just got the 404 error message at Sec.State Delaware Corp
    registration site.So I’m glad I took the precaution.

  58. @chris

    IRS Regulation of Tax Preparers to Be Challenged in Lawsuit

    By Richard Rubin – Mar 12, 2012 2:56 PM CT

    A nonprofit group plans to sue the Internal Revenue Service and argue that the agency’s effort to regulate tax-return preparers is unlawful.

    The Institute for Justice, an organization in Arlington, Virginia, that seeks to protect individual liberties, said in a statement it will file the lawsuit tomorrow in U.S. District Court in Washington.

    “They’re wildly overextending their actual authority granted by Congress,” said Dan Alban, an attorney at the institute who is representing three tax-return preparers.

    The IRS regulations, which are scheduled to take effect incrementally over the next several years, require tax-return preparers to pass a competency test and meet continuing education requirements.

    Last week, the IRS said it had begun sending test results and certificates for those who have become registered tax-return preparers.

    Alban said the regulations benefit attorneys, certified public accountants, enrolled agents already granted authority to practice before the IRS and large tax-preparation chains such as H&R Block Inc. (HRB) Those groups either have been exempted from some of the rules or have economies of scale that give them an advantage over independent preparers.

    The IRS doesn’t comment on potential or pending litigation, Grant Williams, an agency spokesman, said in an e-mail.

    Reducing Tax Fraud

    In a November 2011 speech to the American Institute of Certified Public Accountants, IRS Commissioner Douglas Shulman said the return-preparer program would improve compliance and limit tax fraud.

    “Boiled down to its essence, the program will ensure a basic level of competency for return preparers while enabling us to focus on finding unscrupulous preparers,” he said.

    Alban said the IRS could accomplish those goals with return-preparer registration rules that the lawsuit won’t challenge and with existing penalties for tax fraud and other infractions.

    Edward Karl, vice president for taxation at the certified public accountants group, said accountants and other professionals already have extensive testing and continuing- education standards.

    “I do understand why folks who have done this for years and feel that they’re competent don’t want to change,” he said.

  59. @Enraged,
    I have two posts there.
    Still looking for the incorporation details of the USA.
    Have it here somewhere.
    I know, it blew my mind when I tripped over it doing
    some research on Delaware Corps.
    I know I looked into it at the time trying to get stockholder and
    officer details.They are all top secret,no public access to
    that info.Unlike regular corps.

  60. angry&NOT TAKING IT!, on March 18, 2012 at 10:03 am said:


  61. @John,


  62. @Enraged,
    Just had a thought after my previous post.
    You may be able to file against the holding company.
    Yes,Folks..The government is a corporation.
    Registered in Delaware.
    I will see if I can find a link to their details.

    in a discrimination suit claiming ” state court[s] depriving homeowners 1- equal protection of 1st amednt – “property rights” under the law,
    2- violation of due process in dismissing homeowner complaints despite clear evidence of widespread “servicer fraud” and
    3- felony crime[s] re-filing in the land records, false and or forged conveyances of real property,
    4- other claim re title under the “legal acumen doctrine” contesting title of and through the land records when real party of interest is obfuscated by specific intention of the servicers, their agents “trustees”& mers .

  64. @Enraged.
    You cannot file against the Federal Gov.
    Under Lese Majeure , you have to get their permission
    to file suit against them in civil court.

  65. At the peak 69% of housing units were owned not rented. How many people does that represent (singles, couples, families, extended families). How many votes is that?….And renters are not immune to what has happened. So where is this voice? There is no bigger voice anywhere but it is silent and the 1% of 1% rules.

  66. Next they will securitize renters if they haven’t already. Next there will be credit default swaps on renters. Bogus insurance sold to investors. Tax writeoffs. Option adjustible rental rates that start low and baloon. Bets on failure by parties with no skin. Eviction mill vlutures. Trading profits. No end to the possibilites by enterprising financial engineers with computer models sold to soverign wealth funds and institutions. And just when we thought the party was over….One day they will figure out how to securitize the homeless and their body parts.

  67. just say “HELL NO” FILE the intervenor motion. fuk em back!!!

  68. Basic research may be that “we have tort claims” against the Federal Agency who damaged us.

    Still working this, but it appears on the surface to be doable. I’ll still keep checking on this.

  69. This renter thing should be the straw that breaks the camel’s back and yet nothing ever gets noticed or questioned by mainstream. Where is the “not going to take it anymore” fury?

    First – someone who has no ownership of the obligation should not be allowed to seize title and become a landlord (taking away all rights of the current title owner to challenge the fraud ownership).

    Second even underwater delinquent homes still have value as rentals to the current owners and in many cases the rent could go a long way toward paying a legitimate mortgage (if it was legitimate which it isn’t) and that economic value is also being seized from the current title owner (in judicial homeowner has full title until sold and in non- judicial trustee has bare legal title only).

    Third a property that has dropped 50% to 70% now has a possibility to appreciate over the next years or decades (maybe) so now a party with no skin in the game gets that windfall too? They now get that this may be a better deal than trying to sell a home when there is no current demand.

    And fourth now there is a nice quick way to evict “renters” instead of having to foreclose legally (which they cannot do and it is now getting harder to do it illegally) on owners according to real property law and all other laws ect.

    The alarms should be sounded loud and clear about this. Outrage here. It really comes down to people, govt, courts just don’t get the no skin in the game fraud “ownership” fraud accounting faud paper fraud massive profit that has occurred – continues to occur (or they are complicit and we were sold down the river which we were).

  70. @ Enraged

    It seems to me “compliance” still goes back to authority, proper assignments and ownership. Circumventing the rules of real estate/lien perfection should not be changed to allow forging of documents.

    Maybe I am being unreasonable, but I cannot wrap my head around not owning something and being able to sell it/steal it and the law is going to allow it.Geez, what’s next?

    Maybe, we can file a claim as a creditor in Federal Court against the settlement?

  71. @chris

    “Any ideas folks? Calling you all out here…I am going to try and do this myself, if I can! ”

    More power to you! I know nothing but I think a single individual (maybe even pro se who is bolder and braver than attorneys) can make it into a class action on behalf of all similarily situated without even having to specifically list others in the case…..80 Million? Maybe name the “banks” (non-“lenders” fake “lenders” illegal foreclosers and theiving fake trustee sales “collectors” companies) along with the AG. Totether they owe 80 million at least. Raise the funds to appeal it all the way to the supreme court. Keep thinking we need a celebrity on the face of it to make the case to the American people.

  72. Incredibly good column by Abigail Field. Truns out the deal is still not written. They have the particulars all in place bank by bank but they still haven’t written the underlying contract. No effective date either. And the whole thing completely falls apart if it hasn’t been signed within 90 days of… what again?


    Maybe it will collapse…:)

  73. @ john

    “Whether the money and power makes you evil, or you need to be evil to get the money and power”

    The latter…if one must lie, cheat and steal…the answer is obvious, at least to me. This situation could not have been created by those who are honest, indeed!

    Now, I have put out emails to MA, NC and OK attorneys, to find out if anyone can tell me, how to file suit or claim against the Federal Government or the AG’s office, in any state.

    Any ideas folks? Calling you all out here…I am going to try and do this myself, if I can!

    Any and all input will be appreciated.

  74. @Enraged,
    You are right.
    Its a product of what is called perception management..
    Propaganda has come a long way since Goebells time.
    I give everyone here two examples that are easyto research
    for yourself;
    !) The Govt. can levy personal income tax under the power
    granted by the 16th amendment.
    2)Ahmadinajad threatened to wipe Israel from the map.

    Both wrong.
    1) The 16th amendment(if it had passed) gives no such power.
    SCOTUS has already ruled and held this FOUR times.But we all
    file and pay personal income tax anyway.
    2) If you go to the original pharsi transcript and translate it via
    google or the old fashioned way he actually said” The REGIME in
    Jerusalem will fade from the pages of history”.And he was actually quoting the words of the Ayatolah Khomeinini, he was not expressing
    himself at all.
    So Neo ,do you want the red pill or the blue bill.

    Unfortunately the elite cabal running this show are truly evil.
    I do not know which is chicken or egg.Whether the money and
    power makes you evil, or you need to be evil to get the money and
    Our battle over our homes is just that, a battle..
    We must win the war and not be over focused on the that battle.

    My major concern is that these evil people(physcopaths all)
    now no longer even hide their plans they feel so certain of victory
    in this war.Its all out thereiin their own words
    They are planning mass genocide to reach. a sustainable population,
    among other things.Nice ?
    I ,for one do not want to a victim of these plans.

  75. ON a personal note;

    I think all AG’s should be sued for hundreds of millions of dollars in damages, for wrongful settlements with no authority to speak for injured persons…on behalf of the citizens in every state. They should be held accountable for home losses and actual damages and punitive damages to each and every person hurt by felonies and theft committed against us, of this United States.

    These settlements and wranglings, prolongs the misery to us and the market. This is a bailout, with a different face, as the settlements will be paid for by the citizens in one way or another. All the foreclosure money goes in their pockets and homes are being passed with unmarketable titles to unsuspecting buyers (by the way, I do have a problem with people capitalizing on the blood of someone else). What have any of us got to lose at this point?

    I believe this can be done and should be done, otherwise the settlement sticks. Sending them emails and correspondence is not working.

  76. @ Shelly

    You bet. My QWR has only a copy of the deed, no note. This is telling, in my opinion and want to share this. They are pulling copies of the paperwork, they DO NOT have originals, as they do not exist.
    Fabricating paperwork is not authority. The lawyers do not even understand.

    There is more integrity selling a car than foreclosing on a home. As far as MERS…I would fight that to my death. It is a “members only” club. Circumventing real estate law and lien perfection cannot be done the way MERS is set up…they cannot do business in many states due to non-complaince with state law, while they cheated most states out of revenue by not filing the deed and note properly.

    It is my understanding E. Tolle

    A “constructive assignment” is what is necessary to legally transfer a mortgage for it to be usable in foreclosure. Now, to date, I have not seen any servicer, originator of bank use one, ’cause they do not have one.

    So, the next time the attorney says this is no big deal, tell him, okay, when I want to sell my car, can you sign the title for me as a witness, right on this line of the corrected titled to verify who I am? (notarize it)? The fact is, there is no such thing as an corrective title, without an original to work off. No one can provide a correction to something, that does not exist. With out an original note and deed to be attached it is still a forged document. It’s all hogwash.

    As always, my $.02

  77. I just watched the Bains video again, and I am correct, that Pratt stated the mortgages were wrapped up with the collapse of the S&L’s (savings and loans), not difficult to refi, but could not be rified. Is what I am getting from this. Impossilbe to refi. And we all wanted so bad to refi, MERS did us a great big favor and made it easy to get them refied, when most likely the contracts were all void on the 1980’s Loans, and MERS did us a great big favor reassigning and or giving satisfaction to over a million loans back then, sound familar? Like they are doing now. The mortgages were no good then I will bet ya, so the banks found a shell vehicle to move toxic loans by inventing MERS to help them steal the houses. Notice where Pratt states there are no factual records available for him to know whom owns the notes. BROTHER! Also MERS is not registered to be doing business in the state of Washington. Look up the Washington State V. RECONTRUST, filed by AG Rob McKenna. For all the same reasons MERS has to be registered to be doing business here and was only registered for a month I believe then went in active. MERS is no different than RECONTRUST. With only one exception, it is not soley owned by a bank. All MERS foreclosures are unlawful for this reason as well If MERS claims to be a beneficiary it must be Registered. See the Nebraska case v MERS. The case was reversed in the Appeals court cause MERS claimed they did not have to be registered to be doing business in the state of Nebraska, because they were not beneficiary. MERS seems to be what ever is necessary to lie to be for the purpose at the time. Sense it was not a beneficairy it did not have to be registered as a forecloser or lender or financial institution. Same in Washington. It claims to be the beneficiary on the deed of trust, not the note.. MERS has never been on the note. So it can not transfer the note. Then there is the U.S. Supreme Court case Longran(sp? I will look it up again) I case from 1987, that still stands and has been distinguished many times, that the note can not be separated from the deed of trust. They have all been separated.,

  78. @ Chris….yes, I too have fraudulent assignments….one criminally fraudulent, as in felonious. The idiot attorneys in my area believe it’s no big deal….they say that all the banksters have to do is refile new corrective assignments and all is good. Uphill battle all the way.

  79. […] Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Livinglies’s Weblog […]

  80. The thing for me: The AG’s are too damaging citizens of this country. $1800-$2000 for a home? They are allowing criminals to go free and decide what our price is? Who ever heard of homes being that price and how dare they make settlements for citizens who employ them, with criminals, while hiding and excusing this criminal behavior?

    Really? This is it?

  81. I wish someone here would give an opinion about filings suits against the AG’s for aiding and abetting Felonies.

    Personally, I’d love to give it a shot and many here are savvy and could provide valuable insights. Anyone?

  82. Broader economic issues dependent upon, and derived from, the housing issues. Economy being artificially upheld — by manipulation.

    Never, have we witnessed such mass foreclosure.

    This is fault of the government from the onset of the crisis.

    And, how the heck did this 49 state AG foreclosure settlement ever get passed?? Should never have been passed.

    No investigation — all politics.

  83. It’s actually called Fraudulent Conveyance…and Cloud on Title, they go together…E. Tolle

  84. @ E. Tolle

    Yes, Fraudulent assignment-transfer to servicer from originator, not lender…authority to assign? Unmarketable title if assignments are done under false pretenses, forgery. I have the forgery, proven. Up to the judge now.

  85. @ Chris, you wrote:

    “Me, I filed a fraudulent transfer and cloud on title case in Federal Court.”

    Are you referring to a fraudulent assignment?

  86. And here is the site where to get the links t the actual press report.

    Special thanks to Gabriel at http://www.facebook.com/MassResignations for tracking Insurance, Government and Healthcare Resignations. Also special thanks to Sophie who has kept me very busy with some very

  87. As I have said over and over, the only meaningful information we can get is from “fringe” websites. Then again, Livinglies would qualify as such in the mind of most people and so would Naked capitalism, Abigail Firld and Mandelman.

    I really don’t know what American Kabuki is all about and i don’t care, other than because it gives what i need to remain optimistic.

    Here is their last worldwide resignation count. Keep in mind that, just in the sates and based on the SEC numbers, we are at the 20,000 count, starting from January 1, 2012. And that can be verified.

    Final Update: 358 Resignations from World Banks, Investment Houses, Money Funds
    Posted by clnews _Featured_, Banksters Friday, March 16th, 2012
    (Source: American Kabuki)

    “Some big names on Wall Street are eager to step out of the spotlight after enduring years of financial-crisis turbulence and negative attention from politicians and protesters,” said Peter Ressler, the chief executive of RMG Search.
    FINAL UPDATE 3/15/12, This is the last update on banker resignations for a while. I’ve made my point. I’m in danger of giving myself carpal-tunnel syndrome with all the clicking and pasting. I may make another post at the end of the 2nd quarter and I will pull that data from the Edgar database at the SEC. It won’t have much of the UK data – but its a far more efficeint way to get this data. I didn’t know it existed when I started. I learned all kinds of things about banking I never knew before! Perhaps there is an online database for the UK somewhere too. I may post some statistical analysis and graphs on this existing data. If you want to copy this data and use to continue this research, feel free to do so as long as you say a portion of it came from American Kabuki and promise to share the results with this blog so we can share it with the world.

    If you enjoyed what I have done for the past month, please click the click on one of my fine ad sponsors! The money will help pay for my kid’s high school trip to Europe this summer. If you’ve been foreclosed, perhaps an bank or lawyer ad. If you’re an out of work banker, then click on a job search ad! I don’t really know what brew of ads Google is serving up on these pages and it probably differs by region you are in. Thought it was better to run straight up ads than survivalist dooms day ads (we have such a bright future ahead once we get through this rough patch) or beg for money like a Sarah MacLaughlin endangered pet video. Just not into that kind of manipulation – you folks are better than that and deserve better. I’ll probably remove the ads altogether before long anyway.
    Love and Peace,
    American Kabuki

  88. Elizabeth Warren has asked Congress to stop the secret bailout of AIG, and so should you.

    At the height of the financial crisis, we spent billions of dollars bailing out failed insurance giant AIG after its reckless bets on mortgage-backed securities went south.

    And now, according to recent reports, the Treasury is engaging in a second, secret bailout of the firm — one that’s costing U.S. taxpayers billions, and artificially boosting AIG’s profits, leading directly to higher share prices and bigger executive bonuses for some of the same people who ran the company into the ground.1

    Elizabeth Warren and three other members of the Congressional Oversight Panel for the Troubled Asset Relief Program she chaired — including two members appointed by Congressional Republicans — have denounced this stealth bailout of AIG and asked Congress to intervene.2

    Tell Congress: Stop the secret AIG bailout.

    The issue is about something called “net operating loss,” which in normal circumstances allows corporations to use losses in one year to offset their future tax bills.

    But when companies are taken over, as AIG was when the government spent over $100 billion to keep the company afloat, they are supposed to be barred from using their net operating loss in this way.

    Here’s where things become suspect. In 2008 the Treasury issued a special waiver to a handful of companies, including AIG, that allows for their net operating losses to offset taxes owed to the government.

    At a time of brutal budget cuts at all levels of government, it would be simply unconscionable for Congress to allow for a multi-billion dollar subsidy to AIG’s shareholders and executives.

    Tell Congress: Stop the secret AIG bailout.

    By some estimates, the waiver given by the Treasury will allow AIG, a company that claimed over $19 billion in profits just from the last three months of 2011, to avoid paying anything in taxes for a decade.

    With tens of billions in tax dollars on the line, Congress needs to step in and pass a law to revoke AIG’s waiver and require the company to pay its fair share in taxes.

    Furthermore, the Treasury has clearly abused its discretion to grant waivers like this, and Congress needs to take away the U.S. Treasury’s ability to allow companies like AIG to dodge taxes.

    Tell Congress: Stop the secret AIG bailout.


  89. @John,

    You won’t make an omelette without breaking eggs. As Truman said: “Fear of danger does not exclude danger.” Unfortunately, there will be martyrs to the “Uphold the laws” cause: we allowed things to go so far over the past 40 years that it will take a few dead to rile up public opinion to the point of a worthwhile explosion. What I’m having difficulty with is that knee-jerk reaction i see a lot everywhere, which is: “What’s the use? They’re bigger, stronger, richer than us and they own government, judges and Congress. There’s nothing we can do against them.” That’s called defeatism.

    They own only what we allowed them to own. Time to take it back. And we will.

    Have you contributed to http://www.the99declaration.org ?

    Ain’t going to church anymore. They’ve proved useless to me and to my kid’s future. So, my money is going to the 99. I call it an investment on the future.

  90. I am no economist (obviously…) but when i read from an increasingly large number of them the following, I have all the reasons in the world to be optimistic.

    Think about it: knowing that fire burns (from experience), would anyone in his right mind light a match and deliberately put it on his skin? Of course not! It’s called survival instinct. We all have it. If it takes for things to get worse before people let go of their differences and focus on their common aspirations, so be it. But I have absolute faith that mankind is not suicidal as a species and that people will unite sooner or later to tear down waht has been created and restart on healthy grounds.

    L. Randall Wray.Professor of Economics and Research Director of the Center for Full Employment and Price Stability, University of Missouri–Kansas City

    L. Randall Wray

    The $7 Trillion Question That Haunts Banks

    Posted: 03/16/2012 4:09 pm React Inspiring
    I’ve been writing about the MERS monster since 2010. Here is one of my early pieces.

    I suppose it is now safe to reveal that a staffer of Representative Marcy Kaptur put me on the trail of this fraud — in dollar terms it has to be the single biggest fraud in human history. In sheer utter disregard for law, it is certainly the most audacious fraud in Western history. To tell the truth, I had never heard of MERS until she called. If you recall the Michael Moore movie, Rep. Kaptur stood on the steps and told homeowners facing foreclosure to stay in their homes. She was right: the banksters have no legal claim on the homes they are foreclosing. Foreclosure is theft. Any bank that used MERS has no legal claim on property — there are 65 million such mortgages to which no bank has a legal claim to foreclose.

    And, to be sure, even those mortgages that were not run through MERS are suspect if they are handled by any of the five biggest servicers. These servicers keep such shoddy records that they cannot be trusted to accurately credit payments. They’ve been adding on fees and penalties that were unwarranted since they cannot keep track of records.

    Folks, there are $7 trillion of securitized mortgages. It was (mostly) the securitization process that demanded fraud. Securitization could never have been profitable — it was a flawed way to go about financing homeownership. It was simply too expensive to compete with Jimmy Stewart thrifts. It required fraud to show profits. (As Bill Black always says: fraud is a sure thing. It is always the most profitable way to run a business — until you get caught.)

    In addition to the MERS monster, we also know the securities did not meet the “reps and warranties” claimed. The banks that did the securizations will continue to get sued to take back bad mortgages. They are trying to shovel as many of these back to Fannie and Freddie as they can so that Uncle Sam will take the losses — as discussed in my previous blog they are now doing it through sale of servicing rights.

    And of course Uncle Ben has helpfully put a lot of them on the Fed’s balance sheet. This is all part of the cover-up to avoid the obvious: all these big banks are massively insolvent as soon as the courts wake up to the fact that the whole damned real estate finance onion is layer upon layer of fraud.

    But let us stick to the MERS fraud.

    There should be an immediate and complete halt to all foreclosures in the US, and all foreclosures that have been completed over the past decade should be nullified. Yes that will get messy. But continuing with foreclosures will make the mess immeasurably worse. This foreclosure crisis is not going to stop.

    No one should buy any bank-owned real estate because it is probable that eventually the US will return to the rule of law. The property will be returned to the rightful owners — those who were illegally kicked out of their houses.

    Now that might be a pipe dream, but if the US is not going to be a nation ruled by law then it will not survive.

    The biggest banks — including the GSEs — created MERS and proceeded to destroy our nation’s real estate property law. That is not an overstatement. Robo-signing is just one small and inevitable consequence of the fraud. The truth is that foreclosure cannot go through without fraud because the banks do not have the documents to show clear title.

    Banks don’t have them because they do not exist.

    There are no records because that was MERS’s business model: destroy all records of ownership while speeding the securitization process.

    And since the mortgages themselves were often frauds (designing “affordability products” that homeowners could not afford), many would end in delinquency. So MERS was designed to speed the foreclosure process — it would be so much easier to foreclose if you didn’t bother with documents, records, and property law. Just kick the owners out, take the home, sell it, and reboot the whole scam again.

    Another whistleblower has come forward, this one from CBO. Lan Pham was fired because she refused to get with the program: the government is supposed to help the banksters cover up their frauds, NOT expose them! She refused. So she was fired. Now she tells her story.

    I won’t repeat her entire story — you can read it at Zerohedge. Here are a few quotes from Lan Pham, the CBO whistle-blower:

    I was repeatedly pressured by the CBO Assistant Director, Deborah Lucas… to not write nor discuss issues in the banking sector and mortgage markets that might suggest weakness in these sectors and their consequences on the economy and households…
    …Issues at the heart of the foreclosure problems pertain to securitization….and the Mortgage Electronic Registration System (MERS), which purports to have legal standing on electronic records of ownership on about 65 million…mortgages… MERS…facilitated Wall Street’s ability to expedite the pooling of subprime mortgages into MBSs by bypassing standard ownership transfer procedures as the housing bubble escalated…

    The implications have profound financial and economic consequences that would be of compelling interest to Congress and the public, but the CBO sought to silence a discussion of such risks, that in reality have been materializing. These risks put into question the ability of investors or bondholders to make claims on the collateral (the homes) that underlies trillions of dollars in MBSs, the bulk of which are now guaranteed by …Fannie Mae and Freddie Mac. This affects $10 trillion in residential mortgage debt outstanding, of which $7 trillion in mortgage-backed securities (MBSs)…

    The CBO dismissing such issues prevents an analysis of the risks, so that the public may be forced again to shoulder the consequences for which they have not been a given a voice or a choice.

    Essentially, the chain of title on securitized mortgages appears broken, whether or not there is a foreclosure. This would pertain to most homebuyers in the past 10 years as most mortgages were securitized by Fannie Mae and Freddie Mac providing the guarantees, and the largest banks (“The $7 Trillion MBS Problem – Foreclosure Problems and Buybacks”). Recall that these same entities founded MERS, which expedited securitization and purported to have foreclosure authority from its electronic records of ownership on about 65 million mortgages. “Robo-signing” emerged as fraudulent or defective documents were used or created to establish the legal authority to foreclose as MERS faced legal challenges; as of July 22, 2011, foreclosures could no longer be initiated in MERS’ name. At last year’s pace, some figures suggest it could take lenders in New York 62 years to clear their foreclosure inventory, 49 years in New Jersey and a decade in Florida, Massachusetts, and Illinois.

    It is unclear how the recent State attorney generals’ agreement to a proposed yet unpublished terms of the $25 billion robo-signing settlement would repair the chain of title issues that continue to mutate. In January 2011, the Massachusetts Supreme Judicial Court reversed the foreclosure actions of two banks for lacking proof of clear title, followed by a decision in October 2011 that a buyer who purchased a house that was improperly foreclosed upon does not make the buyer the new owner of the house; the sale does not transfer the property.

    A striking little mention fact of the Massachusetts foreclosure case was that the lenders could not show that the two mortgages were part of the securitization pool. Let’s consider a thought exercise. Others have the raised the question: if the entity that has been taking the homeowners’ mortgage payments is not the real owner, what happens when the true owner(s) of the mortgage shows up? Are homeowners on the hook again for those ‘missed’ mortgage payments? It was not uncommon for mortgages to be sold multiple times, and it is my understanding that loans were intentionally not given unique identifiers as it moved from origination or purchase through to securitization.

    This is what I’ve been arguing since 2010. This will not go away — no matter how much the Administration, the Congress, and the banks try to cover it up

  91. @ E toile,
    I’m no chicken little,but even if I was its better than being a a chicken-hawk.
    This is not fight club on zero- hedge.com.Leave your off your
    ad hominen attacks and I will too.
    I merely try to enlighten and educate people about the much,
    much big picture.I know you see a lot of it ,but your anger is hot,
    cold,calculating anger is far better .
    As to pitch forks and short ropes,I totally agree ,but unless you
    want to be on the DHS shortlist for re education ,there are other places to take it.
    As to the point I was trying to make;
    There are calls on this site for mass lawsuits etc etc.
    The banks will live with 5% to 10% of the ” mortgagees ”
    getting a “free” house. Once it goes over that the rules will be changed.Period.
    So what do you want ?
    A “free ” house or a revolution.
    If my liberty, freedom ,and constitution are returned to me ,the
    house follows anyway.
    First things first.

  92. @chris

    “We must uphold our Constitution and the principles many have fought and died for.”

    I agree. No one right now should allow a passive forecosure to happen or strategically default or send in the keys or short sale or modify or refinance or sell without demanding proof of the ownership of the obligation (beneficiary) or demanding he true amount still owing to the true beneficiary and the true idenity of the foreclosing, reconveying or modifying entity.

    If the existing laws are not followed by the “lenders” which they are not and not enforced by the govt which they are not – the cases should be filed in mass on the courts win or lose. One day court decisions that ignore the law will be exposed even if that is decades from now and hopefully it will not be decades from now.

    A way for people who cannot afford attorneys must be devised even if that is just a template that cites the laws, codes, regulations and case precedent for the state. Stick to the existing codes and statutes and federal regulations and the recorded docs. Someone may get lucky with further discovery of accounting but don’t count on it. When there is a recorded late date bogus assignment to a trust the publically recorded psa and other trust files can and should be used (not complex or irrelevant when it merely is used to determine when and how a purported benefciary received ownership when a servicer with no beneficial interest is making the assignment and pretending they have ownership they can transfer to anyone).

    Paid on time or years delinquent is irrelevant to the lawful right of the trustor to be informed of the identity of a beneficiary, pay a benefciary or lose a home to a benefciary. When in doubt this entity must be identified and the trustor has lawful ways to demand this. A free house should not be a windfall to an interloper and no house is free. Either it has been paid in full or there is something left owing to a lawful beneficary. This will not be the same amount declared in a default by a non-benefciary who’s records are full of errors and foreclosure mill padding and who’s records do not come from the beneficary or even from someone who can identiy the beneficary. There can be no default to a non-beneficary.

    This is just what I think. Just trying to understand and sick of the carnage in the courthouse on American real property and people. No expert here and my comments never address MERS – don’t understand MERS because not on my own docs to see frist hand. Just wonder when anyone will get around to questioning DOT trustees that are not MERS (DOT trustees owned by the pretender servicer “lender”) and getting away with the same BS not even noticed in non-judicial states. Moratorium on DOT trustee companies engaged in fraudulent NOD’s and trustee sales using fraudulent ADOT’s is in order.

  93. @ John….I’m naïve? You believe you’re in the fight because you’re in court with your bank? That’s funny, I don’t care who you are. That’s simply a fist-fight.

    My insistences towards pitchforks and tar en masse have been pushed here for quite a while. Winning an isolated case may give you goosebumps, but until we change the whole thing, until we tear it down and build it up again, until there’s a viable community once more, there’s no hope. They should be afraid of us, not the other way around.

    Your scattered breathless rants across the board reveal a helter-skelter approach that serves no useful purpose. Unless you have constructive methods that you can share, your chicken-little impersonation is no more than comic relief. Tell us how you’re defeating your bank, and what you have planned after that. That would be helpful, not merely humorous.

  94. @ Enraged

    The fight maintains my dignity and self respect. Truths are available for anyone to see. If people choose to ignore it, they do it at their own peril. If the government can allow theft on this level, unchecked by millions, they can do anything they want, in the future.

    We have an obligation, no matter what the risk to fight, otherwise we are all part of the problem, not the solution. We must uphold our Constitution and the principles many have fought and died for.

    My $.02

  95. @E Toile

    I am part of that fight already.I am beating my “bank” in
    court.But I know who controls the rules of the game.
    Just ask the GM bondholders and MF Global investors
    about the rules being changed mid game.Don’t be naive.
    I am not so immersed in the technicalities that I cannot
    see the wood for the trees.
    THAT is what the banks want.So you’re not going to
    see the sucker punch coming ,and it is.
    We have traded our Liberty for a false sense of security.
    We will get neither

  96. @enraged
    On another front.
    Obummer said “no war yet” to Neti.
    Believe the opposite
    Operation;Liberate Iranian Oil is underway
    That’s why are we deploying four more mine sweeper to Bahrain.
    7/10 days before all out war.
    Be ready for the false flag attack here or on one of the
    US navies “sitting Ducks”.
    The only rational player at this point is Iran.
    The physcopaths are in charge of the asylum.
    China , Russia,and Pakistan (all nuclear powers)are not going to stand idly by.
    The doomsday clock is getting close to midnight.
    On that cheery note ,have a nice weekend.

  97. @John,

    You’re part of the problem in my views: spreading fear is exactly what banks and government count on. I have nothing to lose and nothing to fear: in a few years, I’ll be dead, whether I fight or not. So will you. So will everyone on this site. So, what have we got to lose by fighting?

    We already know the end of the book.

  98. E. Toile,

    And that ludicrous “settlement” will be attacked on constitutionality over and over and over. Make no mitake about it. Look: even something as simple as the healthcare bill has been attacked over and over and it’s not about to be implemented. Something as big as homeownership is not going to go away easily by legalizing fraud: we’re alking about the very essence of society as a whole here.

    Humankind is not so dumb as to completely, utterly and permanently destroy itself.

  99. @Enraged

    Is the polictical wing of the 3%.
    Make sure your browser tracking is off ,before checking.
    It out.Could be a ‘false flag’ govt. data collection front.
    Anybody that believes in the constitution,property rights ,freedom,sound money etc.Is now deemed a terrorist and
    will be dealt with by the now fascist state we used to call
    the USA.

  100. E. Toile,

    That’s where you and i seriously differ.

    I’m looking at the technology we have which allows for farther reaching communication than ever before. I’m looking at information being gathered on how other countries embattled in a similar shit we are, and caused by the same culprits (bankers we we’ve been warned against for over 2000 years…) are dealing with it: Iceland and its big “kiss off”, England and its major-scale, ongoing investigations, China and its jailing of criminal bankers, India and whatever it’s doing to them. It’s global and it’s being dealt with, one case at a time.

    I’m looking at Greg Smith’s letter, unthinkable 6 months ago. I’m looking at Baroksky and Smith on major TV channels, Abigail Field’s analysis of the “settlement”, Dylan Ratigan’s rants and harangues. All those things were non existing in 1905, while the Russian revolution was fomenting and brewing. Radio only was available when Germany invaded one country after another. Didn’t stop countries from uniting to bringing it down.

    The way i see it, whenever something like Haiti or Japan happens, hundreds of thousands of people are mobilized within 24 hours to bring emergency help. We know how to do it. If we can do it to rebuild what’s destroyed, we can do it to tear down what needs to be. Tunisia opened the door for Lybia and Syria within a few months thanks to facebook, twitter and others. What happens is that, some countries can’t seem to rebuild on their own after emergency assistance has been given… because they want everyone else to do it for them. And… America pokes its nose into everything that isn’t any of its business, starting with the re-creation of a state lost fair-and-square by defeat (Israel) instead of minding its own business and taking of its own people.

    Incidentally, look at what’s happening to Monsanto: India, France, Peru and most of Europe have banned it for good. When something is so unnatural that it threatens the entire humankind, it gets dealt with.
    The banks will be dealth with as well.

  101. @ Donna, I hear you loud and clear. That CO bill was all about pay to play, and the reps who pushed and shoved to get to the trough should be shamed and shunned. They need to be defeated and once back in the real world, they should be denied employment, forcing them into deadbeatery. Let them feel what it’s like in the real world where you have to work for a living, not stand around with your hand out.

    But as long as reps like this continue to act with complicity and impunity, it’s only going to get tougher. How in the hell did the folks in Bama put that criminal Bachus back in this week? What are the citizens doing save for sleeping at the wheel down there? An 8X10 with a steel toilet is way too good for that clown. I’ve said this before here…Alabama’s always had two wheels on the road and two in the ditch, but I’m starting to wonder if they’re running without axles.

    @Enraged, pardon my reluctance to buy in here….your assurances do little to sway me. When every single faction from regulatory, administrative, executive and on and on are so totally corrupt, I think it’s going to take more than the 2-3-4% that has made some change before. We’ve never witnessed anything on a scale such as this, with an equal amount of complacency on the part of the citizens who stand by and allow it to happen, like that CO bill going thru without a fight and direct threats of action.

    It’s going to take pitchforks on a massive scale. I’m long hand tools.

  102. @ Cheryl, on March 16, 2012 at 9:17 pm said:
    “I have often wondered why ANONYMOUS, Nancy Drewe and a couple others on this site did not turn over their proof to someone. Maybe they do not trust anyone.”

    We went to the FBI – with actionable intelligence of mortgage fraud. The Special Agent in charge of mortgage fraud in Newark NJ office told us to pound sand and lose the FBI’s number.

    They all KNOW. And they refuse to launch criminal investigations against the TBTF and government execs who created, implemented, covered up $17 trillion MBS fraud.

    We are on our own –

  103. E. Toile,

    It WILL be cleaned up. Of course, we all have our part to play but it doesn’t need 99% of us to get redressed. It never does. What’s gona happen is what always happens: 2 or 3% of us will physical participate in the revolution (whatever form it takes) while the remaining 97% bitch and moan all the way in blogs such that this one without lifting one little finger or even doing what it takes to save their own houses.

    Then, measures and regulations will be decided while the remaining 97% bitch and moan.

    Once everything has been put into place and we start seeing improvements in our individual lives, we, the acting 2 or 3% will celebrate while the remaining 9% bitch and moan ‘cuz it’s not moving fast enough, there are still problem with education, healthcare, government and what not.

    You know what they mean by the silent majority, right? It’s the one that bitch and moan from birth to death, that gives birth to kids and grandkids who bitch and moan from birth to death, who themselves… etc., etc.

    Look at what happened with Lynn S (from Florida)… She gets 95 millions on her clients’ behalf. She gets to keep 18 millions and… people bitch and moan because, even she worked her butt off and uncovered the extent of the fraud committed by the banks, 18 millions is waaaaay too much. People are not really angry at her. No, really. They thank her for her good work. But… sheesh! Why can’t they have 18 millions, huh?

    ‘Cuz they won’t move their ass and start taking action. That’s why!

  104. Another whistleblower has come forward, this one from CBO. Lan Pham was fired because she refused to get with the program: the government is supposed to help the banksters cover up their frauds, NOT expose them! She refused. So she was fired. Now she tells her story.

    I won’t repeat her entire story — you can read it at Zerohedge. Here are a few quotes from Lan Pham, the CBO whistle-blower:

    I was repeatedly pressured by the CBO Assistant Director, Deborah Lucas… to not write nor discuss issues in the banking sector and mortgage markets that might suggest weakness in these sectors and their consequences on the economy and households…
    …Issues at the heart of the foreclosure problems pertain to securitization….and the Mortgage Electronic Registration System (MERS), which purports to have legal standing on electronic records of ownership on about 65 million…mortgages… MERS…facilitated Wall Street’s ability to expedite the pooling of subprime mortgages into MBSs by bypassing standard ownership transfer procedures as the housing bubble escalated…

    The implications have profound financial and economic consequences that would be of compelling interest to Congress and the public, but the CBO sought to silence a discussion of such risks, that in reality have been materializing. These risks put into question the ability of investors or bondholders to make claims on the collateral (the homes) that underlies trillions of dollars in MBSs, the bulk of which are now guaranteed by …Fannie Mae and Freddie Mac. This affects $10 trillion in residential mortgage debt outstanding, of which $7 trillion in mortgage-backed securities (MBSs)…

    The CBO dismissing such issues prevents an analysis of the risks, so that the public may be forced again to shoulder the consequences for which they have not been a given a voice or a choice.

    Essentially, the chain of title on securitized mortgages appears broken, whether or not there is a foreclosure. This would pertain to most homebuyers in the past 10 years as most mortgages were securitized by Fannie Mae and Freddie Mac providing the guarantees, and the largest banks (“The $7 Trillion MBS Problem – Foreclosure Problems and Buybacks”). Recall that these same entities founded MERS, which expedited securitization and purported to have foreclosure authority from its electronic records of ownership on about 65 million mortgages. “Robo-signing” emerged as fraudulent or defective documents were used or created to establish the legal authority to foreclose as MERS faced legal challenges; as of July 22, 2011, foreclosures could no longer be initiated in MERS’ name. At last year’s pace, some figures suggest it could take lenders in New York 62 years to clear their foreclosure inventory, 49 years in New Jersey and a decade in Florida, Massachusetts, and Illinois.

    It is unclear how the recent State attorney generals’ agreement to a proposed yet unpublished terms of the $25 billion robo-signing settlement would repair the chain of title issues that continue to mutate. In January 2011, the Massachusetts Supreme Judicial Court reversed the foreclosure actions of two banks for lacking proof of clear title, followed by a decision in October 2011 that a buyer who purchased a house that was improperly foreclosed upon does not make the buyer the new owner of the house; the sale does not transfer the property.

    A striking little mention fact of the Massachusetts foreclosure case was that the lenders could not show that the two mortgages were part of the securitization pool. Let’s consider a thought exercise. Others have the raised the question: if the entity that has been taking the homeowners’ mortgage payments is not the real owner, what happens when the true owner(s) of the mortgage shows up? Are homeowners on the hook again for those ‘missed’ mortgage payments? It was not uncommon for mortgages to be sold multiple times, and it is my understanding that loans were intentionally not given unique identifiers as it moved from origination or purchase through to securitization.

    This is what I’ve been arguing since 2010. This will not go away — no matter how much the Administration, the Congress, and the banks try to cover it up.

  105. Yves Smith and Neil Barofsky on TV, both discussing why the settlement is so atrocious, why it will not work and shat should have been done.


    Also a great article on Bank of Scotland and how much tougher the UK (as usual, our first and foremost partner in crime in this financial scandal) is getting in levying scantions.

    Folks, when I declare that it WILL be cleaned up, it will. Otherwise, humanity no longer has a prayer. So, get out for a long walk, enjoy this beautiful day and let things take their course. Clean up is in the works.

  106. Please be advised as to how our rights are being taken away in acts that through much bluster pretend to be forceful and performed on behalf of the citizenry, as if they’re a penalization, when they in fact are simply condoning the fraudulent practices, as well as paving the way for more abuses by the banksters.

    The following is from the B of A Consent Judgment just handed down this past week, and I’m sure it’s not at all different from the judgments held with the other banksters. It clearly ordains the entire lost note affidavit fraud scheme. All this does is make lost notes acceptable behavior and practice, as long as the banksters say that they’ve looked for the original. Counterfeiting is now not only legal, but it’s now an accepted and ordained practice.

    When you have this kind of language buried deep within a 320 page document, it’s hard to initially assess exactly where the criminality is being reinforced, aided and abetted, but even a cursory glance reveals it in stunning detail.

    This settlement was nothing more than a backdoor bailout to the banks with some graft handed to the states….a way that taxpayer money can be funneled from the taxpayers to the banks and some scraps to the states. It’s costing the banks nothing, save for monies that they receive from us as investors, us as taxpayers, and us as foreclosure victims. To believe otherwise is to have swallowed the wrong colored pill.

    If the original note is lost or otherwise unavailable, Servicer shall
    comply with applicable law in an attempt to establish ownership of
    the note and the right to enforcement. Servicer shall ensure good
    faith efforts to obtain or locate a note lost while in the possession
    of Servicer or Servicer’s agent and shall ensure that Servicer and
    Servicer’s agents who are expected to have possession of notes or
    assignments of mortgage on behalf of Servicer adopt procedures
    that are designed to provide assurance that the Servicer or
    Servicer’s agent would locate a note or assignment of mortgage if
    it is in the possession or control of the Servicer or Servicer’s agent,
    as the case may be. In the event that Servicer prepares or causes to
    be prepared a lost note or lost assignment affidavit with respect to
    an original note or assignment lost while in Servicer’s control,
    Servicer shall use good faith efforts to obtain or locate the note or
    assignment in accordance with its procedures. In the affidavit,
    sworn statement or other filing documenting the lost note or
    assignment, Servicer shall recite that Servicer has made a good
    faith effort in accordance with its procedures for locating the lost
    note or assignment.

    Glaringly absent is any discussion from these so-called regulators and so-called law enforcement agencies as to why millions of notes were lost to begin with. Absent is any discussion as to the repercussions that should be faced when legions of corporations set out to purposely destroy promissory notes in a scheme to defraud millions of their assets and domiciles and the serious offenses that should so obviously follow as a result.

    Most absent is any discussion as to why these government agencies, from federal to state, have decided to go all in with the criminals against the citizenry. What possible good can come out of restoring the banks to solvency and creating a healthy economy if the citizens are destroyed in the process? What possible good can there be in performing operations and procedures if all the patients have died?

  107. chris,

    Become a delegate. http://www.the99declaration.org

  108. Does anyone here have any ideas what we can do collectively?

    People can see and believe what they want, but this is on Obama’s watch. He gave them TARP money…the insurance fraud is in your face, the foreclosures are climbing by the day. People’s lives are being taken right from under them.

    The court actions do not seem to be enough. There has to be a way to put an end to this.

  109. I have often wondered why ANONYMOUS, Nancy Drewe and a couple others on this site did not turn over their proof to someone. Maybe they do not trust anyone. ANONYMOUS has helped so many people on this website. William Black is one person she could turn to. Don’t you all wonder why Obama never hired him to help on the committees? Bill Black took care of the S&L back in the 80s and jailed hundreds. He has been there and done that. He could and probably would if Obama asked him. But Obama will never ask.

  110. Amen….Kenneth

  111. About the end of 2006, we, (Mr. and Mrs. Richard Nali) told Deborah Muro, a Hovnanian sales agent that we wanted a new home in the Hovnanian Development in Canyon Country, CA.

    We wanted to sell the old home, located in Thousand Oaks, Ca.

    About this time, Brokers started badgering Mr. Nali to refinance it instead, telling him, “He would be a fool to sell it.” Everyone SAID THIS WAS LEGAL, as they “really did not know if they would be moving for sure”

    FIRST AMERICAN had been involved in the past refinances, pressuring him to refinance over and over, and now they put intense pressure on Richard not to sell the old home.
    This was because they knew that Mr. and Mrs. Nali DID NOT OWN IT LEGALLY, and that if they attempted to sell it, this TITLE DEFECT would become apparent to them, as it could not be insured.

    In 1999, unbeknownst to Mr. and Mrs. Nali, Donna K. Escamillo, a First American agent, forged two grant deeds on the property. The previous owners still think they own it, and have been collecting rent the past 10 years. This title defect would be discovered by Mr. and Mrs. Nali in early 2012.
    Escamillo has forged the 1999 grant deeds and Mr. and Mrs. Nali are aware the Manuesvitz’s still own it.
    See the 1999 FORGERY HERE [scribd id=81053939 key=key-lewkgqckyymtjaleqy5 mode=list]

    January 7th, 2007, Deborah Muro traps Mr. Nali in the beginning of more fraud on him. She gets him to agree to give her a check for $15,000 on a home (they think it was on Austin Court) and then ESCAMILLO takes this check, writes LOT 256 on it and it is cashed in January. It is her handwriting on the check.
    About this time Thompson Ranch Joint Development, CONVEYS LOT 256 to Richard Lawrence Nali, and the Deed is accepted on his behalf by First American Title Company.

    On January 11th. Mr Nali is made to sign the deposit receipt for the home he is told he is now approved on, a better home that had another buyer “Suddenly back out on.” A bait and switch lie of course. This home he is told is LOT 107, and he is told the address is 15958 Thompson Ranch rd. and this is on the receipt.

    He is told it is on the corner of Thompson Ranch Rd and a unnamed cul-de-sac.
    On January 14th, he alone signs a contract to purchase lot 107, and he was told his wife would not be involved in anything contractual, but, at closing she would have to sign the Deeds of Trust, (a first & second)
    Over the next sixth months, the Nali’s are bombarded with LOT 107, Lot 107, over and over and over.
    (then they are told a mistake was made, and the house is now on “Farnham”, as the direction it faced was changed before the build)

    Finally, six months later, On July 12th they are told to go to the First American Title Company office to close the lot.

    They arrive, and the person there is the admitted loan criminal, Donna K. McDaniels Demello, who tells them she is the escrow agent.

    Donna tells Mr. and Mrs. Nali that the lot number 107 has been changed to LOT 256, and Donna has the grant deed there showing it is has been in his name all along over the past few months, and that it was conveyed to him as sole and separate property for $10.00.

    Donna tells Mr. and Mrs. Nali that because this is the way it has happened, that Mrs. Nali has to temporarily relinquish all her legal interest to her husband. Mrs. Nali is forced to sign an INTERSPOUSAL GRANT DEED on LOT 256, conveying all her legal interest in LOT 256 to Richard Lawrence Nali, as his sole and separate property. Donna also has a document to sign states “the contract of LOT 107 is cancelled” due to the lot number change.

    Donna also tells them that Mr. Nali must sign two deeds of Trust as Sole and Separate property under Richard Lawrence Nali on LOT 256, and Donna has him sign them, and the loan numbers ARE:


    Donna then tells them they will then sign Two deeds of trust only using his middle initial, and this will then
    Vest” it in Mrs. Nali’s name, and Mrs. Nali will have rights to it under community property law.

    The loan numbers on the second set were “


    The legal description of LOT 256 was attached to the back of all four Deeds of Trust.

    Donna then signed them as the notary.

    They left the office that July 12th, 2007, and they never signed ANY other Deeds of Trust.

    The next day, in secret, a grant deed was created that conveyed LOT 107 to Mr. and Mrs. Nali.

    On the 16th, they were lured back to the office, on the pretext of wrong documents, (not Deeds of Trust)and a Notary was there, and she asked them to give an “Oath” that they had in fact did the transactions with Donna on the 12th, and of course they agreed, and she then asked them to sign the same exact notary journal again, so they complied.

    This Notary was Donna K. McWilliam Escamillo, and she then FORGED Mr. and Mrs. Nali’s signatures on Deeds of Trust for Lot 107, and she recorded these forgeries. She also switched the loans numbers, so that the first two loan numbers of LOT 256, were placed on the forgeries.

    Donna K. McWilliams Escamillo and Donna K. McDaniels Demello have been doing this scam on victims over and over, for years likely. Their names are intentionally the same, so that the victims will be confused, years later IF they discover the fraud, and then find Escamillo, as Demellos name is removed from the forgeries, and the truth will go undetected.

    When Mrs. Nali first knew something was “Not right” with the whole thing, in 2009, she then eventually located Escamillo, as she remembered the name Donna, and then Escamillo pretended to Mrs. Nali that she was the escrow agent , and she told Mrs. Nali it was her name that Mrs. Nali had remembered, and she was the “Donna” that did the transaction. This is a lie. It is a LIE. The escrow agent on July 12th, was the criminal Donna K. McDaniels Demello. These two women have been conspiring for years!

    Escamillo then, in 2010, altered the Notary Journal they shared, and erased Mr. and Mrs. Nali’s names from the 12th, but the Journal shows how they defrauded buyers, stealing identities over and over, luring them unsuspecting back to sign the Journal, days after they signed the true Deeds of Trust, and then the duped marks, would forget, as planned the lot switch.
    This second signing in the journal was to support the forgeris she was creating, and hide the truthful transaction the buyers did on “the changed lot number” on the original signing date, a few days prior.

    Then the Foreclosures worked as planned, all the Stolen identity-Straw-Man homes would be short sold, and the second home on the original lot number (they buyers moved into) would be sold at auction, and then the Bank would convey that home to HUD and get a payment, except the buyers never actually signed the Deeds of Trust on the foreclosed homes.

    Why does the FBI protect this? Why did FATCO give me a copy of the journal with all those names repeated days apart? Why is this happening?

  112. i took this comment in another way: Ron Paul – “Government should enforce contracts, not undermine them,” in regards to foreclosures. The government and banksters undermined mortgage contracts instead on causing mortgage contracts to be enforcable. Instead fo keeping the notes in good standing and keeping the mortgages honest, the government de regulated the policies to protect notes, and mortgages and allowed fraud and ponzie schemes and absolutely undermined the mortgage industry. Cheated both the lenders, purchasers of the PSA. MBA’s and REMIC’s and stocks, therefore undermined the contracts, and the entire ecnomy for that matter. Murdered America as Neil said. If the mortgage contracts had not been undermined we would all be in a better income enviornment paying our house payments without added fees and force placed insurance and trying to save our homes from theives. Americans want to pay for their houses. We dont want to be screwed by unscrupulouse theives. I like paying my bills. It is disheating to see so many Americans in avoidable distress, being thrown from their homes after loosing their incomes or being mod defrauded, then loosing their homes to crime, felons and criminals, with no help from their government and judicial systems. No rule of law. undermined contracts. America has been undermined! Our laws have been undermined. We need honest contracts. Honest banking Honest officials. Honest judges! All this fraud has has caused rot! We need the rule of law, the U.S. Constitution and all unconstitutional law nullified, and all judges and lawyers disregarding the rule of law prosecuted for treason.

  113. Call to duty fight now with the same weapon form against you the pen write a lawsuit some body put up a down loadable template of A law siut fill in the blanks and file it in your jurisdiction we all have the same causes of actions basicly. we must all file or your house is a goner you will lose your house and get bullied GO GET A PEN A START WRITING . WE NEED A NATIONAL DAY WHEN WE ALL FILE LAWSUITS TOGETHER HOW ABOUT APRIL 15 TH WE HAVE N TIME TO WASTE.

  114. Stalagmite.

  115. @E. Toile,

    … that you want to turn into a stalagmit! At the expense of those poor bankers.

  116. @ Enraged….a tiny stalagtite?

  117. the homeowners are too blame by not changing the thinking we need millions of individual lawsuits by homeowners file in federal courts pro se to tie the courts and force their hand.

  118. There is case law in my case against a crooked attorney that states to something to the effect, that to stand silent when you were depended on to make a move to protect is the an act of fraud. I will click it on here when I run across it next time. which I should be going over that case soon again. The attorney filed an amended complaint I would not sign and submitted it anyway claiming I signed it slipping in pages I refuse to sign, with the different fax dates at the top that prove it. Then sat quietly by while allowing hte city attorneys to make false claims I had not served a case pro se on Oct 9, 2006 that the first served was December 29, 2006 timebarring me out of court. When the city was timebarred. Did not answer until January 3,2007.My attorney changed all the statutes to federal statutes that I did not know at the time would put the case in federal court, then allowed the city to lift my evidence of served docs and policy making fraud out of court. The judge Pechman, saw the prior served docs and the polciy making fraud case and Breach of Oath of office and allowed all this to happen and on the second unlawful removal request allowed the case to be removed. She did not allow it the first time, cause it was my pro se case she looked at. She was aware of the fraud also. My lawyer standing silent is an act of fraud. you would think the AG’s standing by silent on the economic crime and depriving us of our due process is fraud and stands under this case law. This is an unconstitutional act, and a Breach of Oath of Office and Breach of Oath of Fudicairy duty by the AG’s. The AG’s and their attorneys and the judges are mandated by 18USC 2,3,&4 to recognize fruad and to report it and to act on it. Not to forgive it. As Melissa Huelsman said in Washington Supreme Court yesterday, this is not just three Questions? This is actually a question of does the rule of law stand in Washington State Courts? NOPE! PERHAPS THE US SUPREME COURT WILL CHANGE THIS AND KILL MERS.

  119. Great letter, Dr. Pham.

  120. Another thing…you can ask for a K-1 form from the IRS. Now, I do not have one myself, for the lender (ooops, supposed lender) for the servicer or originator, but I do intend to ask for one, just in case….

  121. I just recognized some Mortgage Forms , made by Freddi Mac and by VMP Mortgage Forms . The Form # 3010 from VMP has 16
    Pages . Page 16 is only the Notarization of the Mortgage nothing else.
    Because my Mortgage was never notarized , I am wounder where the
    page 16 come from ? This is already crooked business , if the signature is not together with the notarization on one page.
    Where is page 16 missing ??

  122. @ All

    A footnote here.

    I have mailed various complaints and requests for assistance in this situation. The people I have contacted include: Michael Moore, Erin Brockovich (more than once), the Law firm with Barry Scheck, Duke, and a variety of lesser known law schools asking if someone will look into the banking stuff. There is either no reply or no! I cannot find anyone willing to take this to task…to me, this is a massive cover-up and maybe, I could be wrong, people are down right being told, by various factions to bury this.

    Is there any suggestions here about how to push this over the top? I am willing to sign my name to it and keep others anonymous.

  123. @E. Toile,

    Spare us the visuals, will ya? 🙂

  124. @ Enraged,

    They are geting out to their private islands or guarded estates.
    The music is about to stop so they are getting to the chairs now.
    The system is assure to fail by 2014 but it could happen on any day before then. 2006/9 was but the first act.

  125. An economist at the Congressional Budget Office gets it. Uh wait….he/she was fired for expressing his/her views. Must read, and then write your legislators with pitchforks in hand:


  126. THERE IS A SOLUTION: see below
    Does anyone doubt for a second that once the economic effects of this disaster is flushed through the system however long that takes and it may take a decade and probably much more that America will go back to business as usual regarding real estate speculation and the land speculation that is at the heart of all real estate “investment” for profit. I submit that purchase of real estate for any other purpose than very long term use (as in home ownership) or very long term investment for purposes of ordinary returns to capital investment is merely variation on the theme of speculation in general and land speculation in particular. Most of us call it “merely riding the market up”. So if you have to have an excuse have at it. But it is land speculation because only land goes up in value while improvements do not especially in the context of a robust construction industry. Real estate investment for purposes of cashing in on the increase of land values is a zero sum game and every penny of income and profit is totally unearned in economic terms. This form of economic activity is always at the expense of someone else and the community since nothing new has been created or produced in the process. This is the at the heart of zero sum. Debt incurred for purposes of purchasing properties whose land value increases (whose real use value has not) is the largest part of the debt incurred for all real estate loans. We are talking many $trillions so this is not some small insignificant thing to be dismissed although that is exactly what has happened. These facts receive no attention even by those ultra critical of the system. Sorry Mr. Garfield, it looks to me that this includes you. Noting personal mind you.

    Nothing whatsoever is being said about the validity of real estate speculation that was the root cause of the current economic bust. The bust would not, could not have happened unless it all had been based on the speculative real estate industry so how it is not mentioned is a real paradox. On the other hand plenty is being said (this blog is a good and laudable example) about the fraud and criminality of the financial sector in making what was going to be another boom and bust in real estate and the so-called housing market far far worse than it would otherwise have been. How the criminally misguided financial sector co-dependence with real estate/land speculation can be ignored is truly breath taking. The king has no clothes but no one seems to have noticed. Not yet anyway. We might expect some regulation of the financial industry to prevent the worst excesses of the current debacle, maybe, if we are lucky. But nothing absolutely nothing is being suggested and probably will not be done about the underlying un-workability and un-sustainability of real estate speculation.

    When this happens you can bet that there will be another boom and bust of real estate probably started again in “housing” market. Perhaps we will not allow the natural real estate/land speculation bust cycle to be magnified into a whole system killer of the kind we are currently experiencing but a bust will happen again if nothing is done to question it or regulate it. The cycle of boom bust in real estate/land speculation has been 18 years although recovery from the current disaster may stretch the next cycle out further.

    There is a solution and it has been on the table unused for over a century. It is increasing taxation of land values by shifting the 85% of taxation that falls on the earned incomes of labor and real capital investment in the real economy onto land values. Taxation of land values has been determined to alone be able to fund all levels of governments with plenty to spare. Because it is a free lunch, undeserved subsidy to land owners and a massive unearned income (33% of of GNP) few of us including economists promote the idea.

    As land values rise so would taxes thus siphoning off any increase of land value for the benefit of the community as a whole rather than into the pockets of rentiers who seek to get something for nothing. Land speculation would end, investment in real estate merely to cash in on the increase of land value would end and the real estate market would never again be the source of instability in the economy as a whole. On the other hand people everywhere would be encouraged to make more efficient use of their land, cities would back fill, jobs and opportunities for real capital investment would explode and the economy would receive a permanent stable shot in the arm. You can imagine the push back and resistance this proposal has gotten. But if you are tired of the system not working and know in your heart that it is just going to fall in a hole again this is an idea worth pursuing. Google “land value taxation” or “Henry George” and you will find a ton of places and material to look at. I can be found at youtube.com/ourearthhome

  127. As to the whirled peas video someone posted, the one that gave me an erection the size of Devil’s Tower with thoughts of thousands of bankers in handcuffs dancing in my head…. does anyone know what or who’s behind that clip? Why should we expect a sudden coming-to-the-senses to be displayed by mankind globally?

  128. NC is also non-judicial. That’s why Federal Court, for me

  129. Forgot to mention I’m in non-judicial CA—the worst state to be in for foreclosure defense…

  130. @ carie

    States have a time period to stop possession, in NC it is 10 days.

    Me, I filed a fraudulent transfer and cloud on title case in Federal Court. Here district court is not good, the Federal Court is much like a judicial foreclosure, gotta come up with the documents. You can also get TILA, RESPA and actual damages, punitive damages. I think that is the better avenue…but it is your case, please do something. Good Luck !

    Just my opinion

  131. @enraged – you truly get it. Very few have the provision to look past the forest to find the end agenda. No culling, but enslavement to debt is certainly on the horizon. I am not talking personal debt, I am talking 20 trillion is public debt, and the banks are already knocking. Treasuries selling off? Stock market being touted to convert paper profits made with free FRC monies. The powers who would be are running the ship right into the reef intentionally.

  132. We need lists published. Evidence is ignored by govt and courts. Homeowners who haven’t a clue especially in non-judicial need to get the message. Fraud in thier own paid on time mort and just wait until they want to sell or move for any reason….A still very small amount of homeowners read the sites that expose this fraud and get excited with breaking news no one else even notices. The mainstream rhetoric is right now stuck on 2008 in all subjects spinning as usual. Just talk to anyone on the street. Same old. Same old.

    Every county in America needs a Lynn Szymoniak ( or several volunteer Lynn Szymoniaks) to publish lists of homeowners who’s “chain of title is compromised” She is about to do this for Palm Beach County for mortgages processed by the defunct company (not named by press) that she says forged her docs. She spent 90 hours a week for the last few years or so uncovering the fraud and exposing robo signing to the mainstream.

    The spin everywhere is now that this was not a fraud committed by banks but by subcontractors just trying to facilitate the foreclosure of otherwise valid “lender’s” mortgage that someone defaulted on. No clue that it’s freeloaders (crooks) getting free houses from homeowners who have skin in the game and a life to lose not just a house.

    So sophisticated “bankers” and “attorneys” just looked the other way or failed to notice? I don’t think so. (more like the orders came from the top and pressure was on to speed it up) – so when is anyone going to ask “why” and get to the bottom of it. Ag’s haven’t done it. How and why did the paperwork go missing and or forged and fabricated for 80 million mortgages?

    See Deadly Clear – now publishing loan numbers for mortgages found in multiple wamu trusts (info investors would like to have as well as homeowners). Would love to figure out how to get this info – sounds like they just used the sec site – can a homeowner get this for their own mortgage? Suggestions anyone? I know someone with not one but perhaps 5 that could be in not 5 but fifteen. This stuff should be presented as states evidence not that it would do any good but maybe America should just get a list.

    Wish a celebrity would take this up George Clooney style. He got arrested today. This fraud is at the root of global collaspe and no one pays it any attention.


  133. Mary Malone for president!

  134. @Mary Malone (or anyone else’s .02),

    Some of you may recall my continuing saga…well, we are almost completely moved into our rental house (it’s lovely, and we DO have an income—thank goodness). I was dragging it out by various means—the trustee’s sale was Dec. 21 (a real estate investor bought it)—and just today as I was putting some more things in my car, the sheriff pulls up and hands me the Writ of Possession, which means we have 5 days to vacate… I was very nice, and actually had a conversation with the sheriff about the whole mortgage mess, and how the recorder’s offices are crime scenes,etc…. Naturally, he knew nothing about mbs securitization, and was of the mindset that the homeowners borrowed too much, and that the banks let them…well, by the end of our conversation, he was a bit concerned, and ready to go look at his own mortgage documents!!!
    So—my question is—should I let it go or file a quite title and stay in possession of the house? Not sure how that would play out, since the real estate investor is on Trustee’s Deed Upon Sale. I do have a re-recorded Grant Deed though—recorded AFTER his Trustee’s Deed. I just made my name all caps…it’s called a “correction”.

  135. A perfectly legal way to… redistribute wealth. Honorable? Probably not. I suspect that the honorable thing to do is simply to walk away from scams, shams and fraud. But the again, would it get re-regulated and prosecuted without whistleblowers?

    As Whistleblowing Becomes The Most Profitable Financial ‘Industry’, Many More ‘Greg Smiths’ Are Coming

    Submitted by Tyler Durden on 03/15/2012 09:47 -0400

    Bank of AmericaBank of AmericaCitigroupCountrywideFloridaJim CramerJPMorgan ChaseLehmanNew NormalReutersSouth CarolinaWells Fargo

    Minutes ago on CNBC, Jim Cramer announced that Greg Smith will never get a job on Wall Street again as “one never goes to the press. Ever.” Naturally, the assumption is that the secrets of Wall Street’s dirty clothing are supposed to stay inside the family, or else one may wake up with a horsehead in their bed. There is one small problem with that. Now that compensations on Wall Street have plunged, and terminations are set for the biggest spike since the Lehman collapse, the opportunity cost to defect from the club has also collapsed. And if anything, Greg Smith’s NYT OpEd has shown that it is not only ok to go to the press, but is in fact cool. So what happens next? Well, as the following Reuters article reports, ‘whistleblowing’ over corrupt and criminal practices on Wall Street is suddenly becoming the next growth industry. Yes – people may get ‘priced out’ of the industry, but since the industry will likely fire you regardless in the “New Normal” where fundamentals don’t matter, and where the only thing that does matter is the H.4.1 statement (as Zero Hedge incidentally pointed out back in early 2010), why not expose some of the dirt that has been shovelled deep under the coach, and get paid some serious cash while doing it?

    Here is Reuters on why we are about to get a deluge of Greg Smiths exposing the muppet army, only this time they will not cast merely ethical aspersions about their employers, but will provide solid, hard evidence of criminality.

    Whistleblowers who were instrumental in revealing epidemic mortgage abuses, some of whom risked their careers to do so, are getting multi-million-dollar payouts, court documents show.

    Victor Bibby and Brian Donnelly, two Georgia mortgage brokers, are among the handful of whistleblowers whose stories are coming into focus.

    Bibby and Donnelly said they started noticing in 2005 that lenders were charging veterans hidden fees on mortgage refinancing – a violation of the government’s Interest Rate Reduction Refinancing Loans program.

    The pair, who worked for U.S. Financial Services Inc, a mortgage brokerage firm in Alpharetta, Georgia, said they became suspicious when lenders told them not to show an amount charged for attorneys fees on loan documents, but instead add the sum to the charge shown for “title examination fee.”

    After lenders ignored their concerns, Bibby and Donnelly hired an attorney and filed a whistleblower suit.

    The payoff to rat out criminal behavior?

    The wait paid off in the form of a $45 million government settlement with JPMorgan Chase & Co that became public this week. Bibby and Donnelly and their attorneys will receive 26 percent, or $11.7 million.

    And many more are coming:

    The case is one of five whistleblower suits settled for a total of $227 million as part of the broader $25 billion deal with five lenders over foreclosure abuses, according to court documents filed this week.

    Details of the cases are emerging slowly as suits are unsealed and prosecutors disclose settlements.

    U.S. Attorneys in North Carolina and South Carolina said on Monday that five banks – Bank of America Corp, JPMorgan Chase, Wells Fargo & Co, Citigroup Inc and Ally Financial – agreed to pay the amount to address allegations they participated in a nationwide practice of failing to obtain the required mortgage assignments, documents used to transfer ownership of loans.

    The lenders also used false assignments to submit Federal Housing Administration insurance claims, prosecutors said.

    The whistleblower in the case, Florida homeowner Lynn Szymoniak, will receive $18 million.

    But wait, there’s more. While Wall Street will hate these newly turned “rats”, America’s taxpayers, tired of being raped on a daily basis by Wall Street will embrace the “whistleblowers”, especially since there is money finally coming back from Wall Street to the “rest of America.”

    Two of the other settlements outlined this week – for $75 million and $6.5 million – appear to be related to an investigation into whether Bank of America and its Countrywide Financial unit knowingly made FHA-insured loans to unqualified borrowers.

    Prosecutors in New York said in February they had reached a $1 billion settlement with the bank over these practices, but have not yet filed court documents.

    Court documents have not been filed in the fifth case, which resulted in a $6.2 million settlement.

    Legal releases in the $25 billion mortgage settlement indicated other whistleblower cases are still in the works.

    Sure, these people are terminally gone from the industry…

    Bibby, who is 46 and married with three children, and Donnelly, who is 56 and married, said they don’t have plans for their portion of the settlement. They will have to pay taxes and attorney fees out of the $11.7 million sum.

    U.S. Financial Services at one time had about 50 employees, but is now basically out of business. They are not sure what they will do next.

    “I think we’re kind of dead in this industry, to say the least,” Bibby added.

    But so what? If the opportunity cost of staying is offset by millions in whistleblower payoffs, it makes the return on loss of career not only tolerable but largely desired.

    Sorry Cramer, Greg Smith is just the beginning- with his Op-Ed he has unleashed an avalanche of similar disclosures, many of which will expose the true dirt that you and yours would do everything in your power to cover up.

    Incidentally, and as a reminder, Zero Hedge will always gladly publish without editing any of our readers’ reports of criminal or less than legal activity witnessed at their financial employers.


  136. Why Are Bankers Jumping Ship In Record Numbers, Financial Collapse Imminent?
    Brandon Turbeville
    Activist Post
    March 16, 2012

    On March 6, 2012, I wrote an article entitled, “Mass Banking Resignations Signal A Purging Has Begun?” in which I discussed the seemingly large number of banking resignations taking place all over the world. At the time the article was published, the number had reached 122 announced resignations.

    This past week saw yet another high-profile resignation where an executive from Goldman Sachs quit in a blaze of glory taking aggressive swings at his former company and the finance industry as a whole in a widely publicized resignation letter in the New York Times. As a result of Greg Smith’s damning indictment of the “culture of greed” at Goldman Sachs, they lost over $2 billion in market share because of the bad press.

    The overall list of resignations, originally compiled by the independent blog, American Kabuki, raised a number of questions for most who had the opportunity to go through it – this writer included. This is not surprising since, when one reads that 122 banking officials have resigned from relatively high-level posts, one naturally wants to know why.

    Upon first reading, the resignation figure seems quite large. However, considering the number of banks in business around the world, it might have occurred to some that 122 resignations might not be quite the massive exit that many initially suspected it to be. After all, with so many institutions around the world, particularly in the midst of a worldwide economic depression, wouldn’t resignations of this scale be expected? In short, one of the baseline questions that needs to be asked when discussing the recent banking resignations is, “Is this really such a big number?”

    Indeed, ever since news of the resignations first came out, no one in the mainstream or alternative media has been able to demonstrate what exactly a normal number of resignations would look like.

    However, another recent post by American Kabuki may help shed a little light on this issue.

    According to American Kabuki, because of the Securities Exchange Act of 1934, all publicly traded companies must report to the SEC (Securities Exchange Commission) whenever certain officers or board members resign from their post. This publication is made via the database known as EDGAR.

    American Kabuki states that, after investigating the database (Form 8-K, Item 5.02), they were able to search terms such as “Resigns” or “Resignation.” The figures reported by the blog as a result of this search are interesting to say the least. Take a look at the figures presented by American Kabuki below:

    Considering American Kabuki’s research regarding the detailed list of banking resignations it produced weeks ago, the staggering increase in resignations seen in this chart obviously warrants a closer look.

    However, it is also true that we must view these statistics with a dose of healthy skepticism. First, as the blog states, these resignation results were not broken down by industrial sector. Every resignation is included under the banner of the Standard Industrial Classification (SIC). This means that the figures in the chart do not necessarily represent banking resignations alone, but the resignations of the entire industrial sector.

    Second, EDGAR apparently rounds its numbers when generating reports.

    I was unable to authenticate these statistics for myself. Nevertheless, if these statistics are to be believed, then the number of resignations amidst large banks/corporations and other entities has jumped through the roof just in the last few quarters. Because the vast majority of these institutions are so intertwined with one another, the term “Standard Industrial Classification” is quite an accurate description in any event.

    Regardless, if American Kabuki’s statistics are indeed accurate, we must start asking ourselves the question as to why these individuals are leaving their posts at such an alarming rate. Is it because they are attempting to avoid a coming investigation? Or is it because they see the coming collapse of the worldwide financial system looming around the corner?

    Or is it something else?

    At this point, all we have are more questions. It might, however, be a good idea to start searching for answers as soon as we can. After all, it would appear that there are many who know something that we don’t.

  137. “high-balling their estimates”

    Business as usual….and the settlements or bailouts as I call them are going to worsen the situation!

    Just my opinion…wait and see.

  138. See this 3-minute video:
    Imminent Televised Event: Mass Arrests of 10,000 Global Cabal Members – 2012

  139. Banks Worsening Foreclosure Crisis By Overvaluing Homes: Study

    The Huffington Post | By Alexander Eichler Posted: 03/16/2012 11:36 am Updated: 03/16/2012 11:36 am

    Banks might be indulging a bad habit that could be worsening the foreclosure crisis, according to recent research from economists at the Federal Reserve Bank of Cleveland.

    The economists, Thomas Fitzpatrick and Stephan Whitaker, did some analysis of the Ohio real estate market and found a disquieting trend. Banks seem to be over-valuing many of the homes they foreclose on, making it less likely that homeowners can get a loan modification and more likely that they’ll end up losing their property.

    It’s not clear how or why banks are getting an inflated idea of the value of so many properties — especially since foreclosed homes tend to drag down real estate prices for the whole neighborhood — but the trend seems to be real. Fitzpatrick and Whitaker note that at foreclosed-home auctions in the Cleveland area, banks routinely sell their properties for much less than what they paid to buy them from the sheriff, meaning banks are high-balling their estimates of what those homes are worth.

    If they weren’t doing that, the economists write, then maybe they’d be more willing to extend loan modifications to Ohio homeowners who then wouldn’t have to give up their houses.

    This isn’t the first evidence that banks have made the foreclosure crisis more pronounced. The widespread practice of robo-signing — banks moving forward with foreclosures based on forged or unread paperwork — has significantly impeded the housing recovery. And additional signs have shown wrongful foreclosures continue to be a problem across the nation.

    Today, the foreclosure crisis remains a major source of economic distress in America, and the sheer volume of foreclosed properties is expected to get worse before it gets better, thanks to the recent $25 billion settlement between 49 states and five of the country’s biggest banks.

    Meanwhile, as more and more people bail out of the housing market and flee to rental units, the nation’s low-income earners — many of whom never had the option of buying a house, and depend on affordable apartments for shelter — are finding themselves priced out of places to live.

    Besides delaying a recovery in housing prices — seen as a prerequisite for any broader economic turnaround — the foreclosure epidemic has also been characterized as a public health crisis, with research linking the financial and psychological stress of foreclosure to widespread incidences of depression, anxiety and an inability to afford food and medicine.


  141. Meanwhile, it keeps growing.


    Whether government becomes part of the solution or not makes very little difference: the clean up will continue. And we know, from previous post I put here, that over 20,000 bank board members have left their positions, based on the K-8 5.02 forms filed with the SEC since January 2012.

  142. We understand, the DC clan does not and will not do anything meaningful. They are the enablers.

    Who bought more house than they could afford is really not the issue here. Had no one bought a house between 2007 and 2011, the housing market would have imploded anyway. Either way, this is a problem.

    However, stealing homes is an even bigger issue. Changing the rule of law to allow acts of first degree felony…is way unacceptable.

    We need to collaborate and find solutions. Individuals fighting is good, but what about a collaborative/team effort here to make the statement: We are not going to allow this!…as what is next for our country and its citizens….no “due process” at all, people in banking can just send someone by and break the door down…GEEZ! Actually, they are already doing that…and getting away with it.

  143. Barry Fagan v Wells Fargo Bank Request for Judicial Notice of U.S. Department of Housing and Urban Development Office of Inspector General, Office of Audit Memorandum No 2012-AT-1801


  144. As long as we continue to qualify it as a “financial crisis” instead of looking at it for what it is: the greatest financial scandal ever visited upon mankind, we cannot expect anyone to show the urgency required to straighten out this mess.

    We The People are not expecting government to fix this problem overnight: we are not that callous and irresponsible. What we do want, though, is a government who admits that banks were much, much worse than merely “immoral and unethical”, that our courts have, thus far and more often than not, condoned the past and ongoing fraud rather than uphold the laws, that most regulatory government agencies have failed in their mandate and that it is high time for banks to be dismantled and broken down into manageable entities.

    As long as individual Americans continue to feel -and clearly see- that what’s good for the goose is not good for the banker, our elected representatives will have a hard time obtaining our loyalty and trust. I thought Obama had finally understood that much. I guess I thought wrong.

  145. Please understand something…

    The Fed, Treasury, White House, DOJ, SEC, FDIC, OCC, both houses of Congress, Governors, state AG’s, state party leaders – KNOW there are no mortgages to back MBS.

    They are willfully and deliberately destroying The Rule of Law. They have chosen sides – and it is not the homeowner.

    How do we know?

    Because we have spent the last 3 years contacting all the parties cited above. They KNOW that MERS and MBS fraud destroyed clear title – and resulted in upwards of 7 million illegal foreclosures.

    They do not care. These public officials will continue to cover for the TBTF banks that have stolen $11 Trillion from investors and $6 Trillion from homeowners.

    Neil has advocated Quiet Title Action for years. That relatively simple legal action is our best and last hope.

    You are the only one who can protect your private property. Nobody in power is going to help you. No one.

    Do you understand?

  146. the silence says it ALL !!!!!!!……..

    the enemy is amongst us !

Leave a Reply

%d bloggers like this: