OCC Says Bank Losses Mounting on Defective Foreclosures and Loans

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Editor’s Comment:  

This has been my point, although the article below only covers a small part of the losses that will eventually befall the banks and servicers. The banks are carrying assets on their balance sheet that do not exist — especially, as this article points, out home equity lines of credit that are second in priority to the first mortgage. We already know that those home equity loans are worthless. But even the first mortgages are claimed as assets despite the fact that the bank didn’t put up one dime to fund the mortgage or purchase it. How the big accounting firms are permitting this, why the SEC is not objecting to it, is amystery only if you believe in the tooth fairy. They are missing it because they have been told not to bring down the banks — at least not yet. Eventually though, the true figures will emerge and the so-called large or mega banks will be shown for what they are — the same sham that was created in the origination of the loans.

Regulator Warns of Mortgage Losses for U.S. Banks

by Alan Zibel

WASHINGTON–U.S. banks may be hit with a new round of mortgage losses over the next five years as borrowers who took out home-equity loans a decade earlier face increased monthly payments, a regulator warned Thursday.The Office of the Comptroller of the Currency warned that more than half the amount borrowed on equity lines at national banks, or $221 billion out of $380 billion, will face higher payments from 2014 to 2017, exposing banks to the possibility of losses if some equity-line borrowers default.

Home-equity lines extended during the mid-2000s housing-market-boom years typically had a 10-year period in which the borrower made only interest payments. When that period ends, borrowers must start to pay back the principal balance as well, increasing monthly payments for some homeowners who have seen their incomes and property values decline.

Darrin Benhart, deputy comptroller for credit and market risk at the OCC, said “banks are going to have to be thinking about ways that they’re going to address” the problem, including debt restructuring. Analysts have been voicing similar concerns. In a May report, Deutsche Bank identified First Horizon National Corp. (FHN), PNC Financial Services Group Inc. (PNC), TCF Financial Corp. (TCB) and Huntington Bancshares Inc. (HBAN) as institutions that are most exposed to losses from home-equity lines.

The OCC report, the first in a series of semi-annual reports on financial risks in the banking system, also said banks have shifted to higher-risk investments to boost interest-rate returns, a development that could create future losses for banks.

The OCC separately is studying which banks could be hit the hardest if interest rates rise. For larger banks the regulator said it will focus on problems with mortgage servicing as well as underwriting standards for business loans and exposure to European institutions. The agency also will scrutinize smaller banks to look at loss exposure from commercial real-estate loans and new types of auto and other lending products

The report said banks still face a huge overhang of delinquent and foreclosed properties stemming from the nationwide housing bust. And the nation’s largest banks “continue to face profitability challenges” from deficiencies in their foreclosure-processing operations, which bank regulators are forcing the nation’s largest mortgage servicers to overhaul.

The report, however, said that banks are in a far stronger financial position than before the recession of 2007-2009, with higher levels of capital around the industry, particularly at the largest banks.


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43 Responses

  1. […] 2014 to 2017, exposing banks to the possibility of losses if some equity-line borrowers default. Read more… Posted in Banks, MERS, News Around The Country, States « Inflated Appraisals as […]

  2. “Goldman agrees to settle mortgage debt class action

    By Nate Raymond
    NEW YORK | Wed Jul 18, 2012 11:41am EDT
    (Reuters) – Goldman Sachs Group Inc has agreed to settle a class-action lawsuit with investors who claimed losses on $698 million of securities backed by risky mortgage loans issued by defunct subprime lender New Century Financial Corp.”

    http://www.reuters.com/article/2012/07/18/us-goldman-lawsuit-mbs-idUSBRE86H0XW20120718

  3. Bank of America, Syncora settle mortgage fraud lawsuit
    July 17, 2012 9:38 PM ET
    By Karen Freifeld

    “NEW YORK (Reuters) – Bank of America Corp has agreed to pay $375 million to settle a case brought by bond insurer Syncora Guarantee over toxic mortgage-backed securities at the center of the 2008 financial crisis.”

    http://money.msn.com/business-news/article.aspx?feed=OBR&date=20120717&id=15341824

  4. @tn—I’m talking about Chase not having ownership from WAMU—I called them on it and told them in a letter that they were violating FDCPA by threatening foreclosure, and that the house had negative equity and they better back off…and they did.

  5. @carie – perpetuating your argument that you “ran them off” by demanding to see the note or demanding that they prove they were the creditor is just as bad and dangerous as those people who believe the theory that our social security numbers represent loans and we can pay off all our debts using the right “magic words” to draw on the treasury account that is set up based on the distinction between capital names, etc… all nonsense

  6. @carie – i’m not going to debate right and wrong with you, but unless they released their lien and gave you a payoff letter, you didn’t beat them and they didn’t disappear. if they had foreclosed, they would have had to pay the 1st off. they didn’t want to do that obviously.

  7. tn—re-read the chain.

  8. hey Harry: great advice! I did indeed contact Marquette University and they had a program going but was unable to enter because of residency restrictions. That was a couple years ago. Now it’s a moot point for me, but you other people should look into this.
    Thanks for sticking around here, harry. Your perspective is appreciated by me and those whose feet are firmly on the ground.

  9. @carie – I was enjoying my weekend. what was I wrong about that precipitated my “disappearance”?

  10. […] Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: ALAN ZIBEL, Darrin Benhart, defective foreclosure, DEUTSCHE BANK, FHN, First Horizon National Corp, first mortgage, HBAN, home equity line of credit, home equity loans, home-equity lines, Huntington Bancshares Inc, mortgage losses, OCC, Office of the Comptroller of the Currency, PNC Financial Services Group Inc, regulator, SEC, TCB, TCF financial corp Livinglies’s Weblog […]

  11. The show runners are probably gathered here: http://www.occupybohemiangrove.com/ http://www.freeworldfilmworks.com/fwa.htm

  12. Don’t bet on it folks, else these would have been first to indict, for robo-signing & mass-murder: http://www.youtube.com/watch v=ikaajbOEWpk http://www.prosecutionofbushmovie.com/

  13. Geithner’s indictment is long overdue: http://www.youtube.com/watch?v=q5j6Yk0qAgQ

  14. guess he had to go club some baby seals.
    Piggybankblog post: some CEO and VP of a Virginia Commonwealth bank were indictied. Story was in the WSJournal. Looks like they may get 30 years! Hoo Hah!

  15. hey tnharry—did you see my response re. the heloc? Why do you dissapear when you are wrong?

  16. FinCEN Assesses Suspicious Activity Involving Title and Escrow Companies – 2012-07-12 18:02:34-04

    FOR IMMEDIATE RELEASE July 11, 2012 CONTACT: Steve Hudak 703-905-3770 FinCEN Assesses Suspicious Activity Involving Title and Escrow Companies VIENNA, Va. – Pressing forward in its efforts to address a wide range of criminal risks, particularly in the residential real estate market, the Financial Crimes Enforcement Network (FinCEN) today released its first targeted study analyzing […]

    from foreclosure fraud dinsFLA posts
    its a US dept of treasury so… what else can you do

  17. Instead of this kind of crap the OCC should organize a 20,000 strong “Jim Jones style concert” specially for BanGsters (Bank Gangsters) and served them free Jim Jones Juice (JJJ)/ cocktail. That will end all losses to the nation and bring a turnaround to this country…agree???

  18. Well we need some action!! .. and then we need to flog the b@$^ard$ before jailing them.. of course for public viewing and yesterday was is too late. Investigate investigate threaten threaten stall stall… it is blatant for petes sake!! Losses!? they have no losses they stole Everything from Everyone and still are, they live quite well and we barely survive so I missing the point here, or is it continued rhetoric of the day.
    Maybe but we ALL need to start well lets say just the top 10 for now-
    1. Bank of America Corp.
    2. J. P. Morgan Chase & Company
    3. Citigroup
    4. Wells Fargo & Company
    5. Goldman Sachs Group, Inc.
    6. Morgan Stanley
    7. Metlife, Inc.
    8. Barclays Group US, Inc.
    9. Taunus Corporation
    10. HSBC North America Inc.
    any takers???
    Unlawful acts are abounding still today.. truly amazing this continues to eat us alive one unlawful act every second day after day year after year. Truly people it is when where how why (which we Know) and then fix the blood thirsty animals by squashing it.

  19. Great Job Nancy! You get an A+! Play nice with Neil … 🙂

  20. funny—I just figured out who “Randy” really is…;)

  21. NO, tnharry—IT WAS WIPED OUT BEFORE IT WAS FORECLOSED—WAY BEFORE…see–I can shout, too.

  22. @tnharry: Exactly : )

  23. Stupid people sign stupid contracts every day-K.Petrides
    Alleged fraud and alleged observations opinion of reasonable person one who does not practice law, does not know law alleges in my personal opinion based upon research of real transactions, agreements and related documents as recorded by DUS affilaites, members, partners, etc. in public domain:

    LOSSES! JPMorgan Chase relationship WITH SYNDICATE THROUGH Norwest Asset Securities Corp (1996) “NASCOR” operating as the ‘Lender’s Agent’
    National Associations are MERCHANT BANKS whose holding companies use cash to purchase stuff for owners not common stock holders.
    Schema & fraud you all fall for:
    The very Cash deposits into national banks booked as expense.
    A ‘credit’ created for account holder. Real owners of corporation keep beneficial interests in separate holding company one common stockholders without access or rights.

    OCC oversight of deposits FDIC bankruptcy handler of bailouts!

    Cash moves through national association, receipts are cash like equivalents, which are taken to market. The Notes you signed are cash receipts in form valuable to Secondary Market: cash-like equivalents used in trading.

    The Sale of Notes in cash-like equivalents as Receipt does do exist the signed note.
    Cashier Check and/or Wire Transfer both as
    ‘Purchase Ordered By: Delegated Underwriter Servicers of Fannie Mae/Freddie Mac and Lender Agent Correspondent as affiliates paid to take to market note held by investor and title held by RELS TITLE SETTLEMENT LLC: via ‘ATI’ Norwest Corp System-Underwriting S&P rate A+ Notes based upon Claims Paying Ability of Partner, Old Republic Title Insurance.

    First American/Norwest Mortgage Inc.
    Underwriting of Real Estate Owned ‘TITLE’ that Seller’s Default Claims would be paid by the SYNDICATE:

    ATI (sm) read the brochure for yourself. then get a grip on how ATI in Michigan waivers of real estate transfers may apply to movement of title to/from affiant Des Moines IOWA ATG Attorney Trustee Guaranty issued via Iowa Financial Authority & RELS TITLE SETTLEMENT LLC One Home Campus Dr, Des Moines IOWA -GET IT! and First American’s mortgage default process which does not have to be done by a legal licensed professional and so on

    ATI (sm)
    h t t p :// w w w .scribd . c o m/doc/98426164/ATI-mark-WALL-STREET-Meets-Main-Street-Secondary-Market-through-which-CONDUIT-Sells-Mortgage-Notes-to-REMIC-s-Securitizes-Asset-Backed-Securities

    Owner: RELS TITLE SETTLEMENT LLC

    Owner: RELS TITLE SETTLEMENT LLC

    Sales of the ‘Notes’ sold in batch to Wall St. booked $/Share reveal health of a ‘Trust Fund’ which is held FEE SIMPLE and is not securitized!

    Go ahead and read the PSA spin and lose.

    Or move forward and look at TITLE and scam, scheme, affiliates members, partners, non-members, non-affiliates, agency, non-agency, dealers, brokers, distributors, agents secondary market

    Ask yourself: How can the Note $/Share trading on Wall St. in book entry reported daily in form on Bloomberg, for example, as $/Share SASCO 2006-WF3 and note considered current and note not be securitized? It’s not per PSA ‘FEE SIMPLE’ US Dollars!

    Its right in front of your face.

    TRUST FUND assets held inside a ‘trust fund’ not a bank!
    Collection of like-kind assets ‘Titles unencumbered paid for by Investor for example! Investor using third party funds (its clients). Nice gig.

    PSA states held in FEE SIMPLE! FEE SIMPLE!
    That the Note will be reconstituted (like Orange Juice looks the same but is not the same) like a reconstituted image of a note!
    TRUSTEE of the Trust Fund will request holder of TITLE Syndicate FIRST American Financial CORP -Pawnbrokerage on SEC to release as an Accommodation only Title by First American and is Plaintiff in Court dba RELS TITLE SETTLEMENT LLC ‘aka WELLS FARGO Lender Premier Asset Services’ who will acquire TITLE using settlement funds and the robo-firm acting as Seller’s Broker, and Coldwell Broker-OWNER with Premier Lending will acquire Real Estate Owned Property, and goes into 1031 Exchange pending settlements and finding another sucker to do it again sam.

    Sale of Real Estate Owned by SYNDICATE is the Hedge Fund.
    The REMIC funds will be used during Settlement following Foreclosure.

    Living Lies Article:
    Inflated Appraisals as Assumption of Risk and Joint Venture with… livinglies.wordpress . c o m

    Concealment of inflating as much as possible the commitment of loan the end game. The loan never issued to consumer and title held pending settlements.

    CONCEALMENT TITLE COMMITMENT void contract and what consumer forced to give back cash they never had but signed document that they had cash!

    Concealment Title Commitment private encumbrance, and private investor lines are purposefully withheld from consumer, e.g. Exhibit BI, BII, etc. There is no LOAN , you promised to sell property and a loan would be created up to the value of the commitment!

    Goal collect receivables cash from you & unjust enrichments alleged to include taking title to real estate owned property and all and any beneficial interests created using your likeness ‘living trusts’, annuities, etc, and any leftovers from PMI Group advancing to Delegated Underwriter Servicers “DUS” by Fannie/Freddie PMI Group credit enhancements up to additional $31K is it in the June 1, 2007 Master Trust Fannie Mae? Oh and other insurances including Seller’s Default Insurance Underwriter pays claims for Seller’s Default Insurance passed by Robo-Firm e.g. Zucker Goldberg Ackerman LLC passes claims for liens affixed to property (any liens they want) and will take out of the settlements following foreclosure the REO proceeds pay themselves all of the advances recorded in bulk and other fees etc. received during settlements and don’t have to return excess cash to courts until? Anyone every see what cash is ever returned to court as ordered during settlement of 100% debtor with Trustee Guaranty Certificate?

    Title Commitment, OPINION only of value of commitment for a loan in event a loan were to be granted does not mean a loan was granted! The parties who provide the service are members of affiliates of the Delegated Underwriter Servicers.

    Why has not the real estate lawyers foreclosure defense and TITLE EXPERTS not getting the real information available to investors? Investors reports include the INNOVIS report reveals the private liens and encumbrances are with. RELS LLC (Value It, VIE) Title Reports during foreclosure for SELLER: RELS TITLE SETTLEMENT LLC…. RELS & Experian’s Private Investor REPORT ‘Loan’ instead of ‘Sale’ sale occurring during default, and after default settlement proceeds, and resale of note new title commitment -title held pending another default.

    Neil, You said you could get a private investors report when we spoke. I want to purchase one through Neil Garfield Enterprises How do I do that?

    Facts of the Matter:

    The Title Transactions are the ‘Heart’ of the matter.

    You saw how the Trustee Guaranty Certificate, & CONSUMER & TRUSTEE of REMIC ‘TRUST FUND” are the Beneficiary and use false claims, file falsified documents, take unfair seizure of property.

    Yesterday, Today & Tomorrow:

    Stupid consumers will agree to sign Notes and will participate in selling same to Wall Street. Title, underwriting held in Trust Fund FEE SIMPLE (US DOLLARS) in name of UNDERWRITERS!
    The daily spot check of health of TRUST FUND revealed to members of affiliates as Investors reported by BLOOMBERG for example as $/Share whose members, affiliates EDGAR On-Line(sm) Filing Agents are the very scammers and schemers who take unfair seizure of property, real estate own proceeds of settlements the hedge funds from each retail sale of REO!

    The investor as buyer of notes does not have title.
    Title held by SYNDICATE as real estate owned property REO get it?

    The deed in our name and the Title in Syndicate’s name.

    Real Estate Owned property. GET IT!

    Beneficiary interests held in our name as converted to debt.
    Good reason not booked on books – GAAP ? Books are not cooked by syndicate if the title has no value held as encumbrance right?

    REO proceeds held & are the hedge funds & any left overs following settlements between the Investor & SEC Filing Agent of the 10K what happens to that cash? starts all over from sale of note again to a new sucker or same sucker taking a modification wraparound..

    What’s this all about anyway? Savings & Loan disaster, CONGRESS used public funds for first time to bail out the same mess! Fannie Mae & Freddie Mac & RESOLUTION TRUST Co (Private Investors) arrangements. Do not have to pay off loans rather sell notes signed by consumers to Wall St. Syndicate for Delegated Underwriters Servicers:

    WHY? S&L Disaster 1989 SOLUTION use cash of consumer tax free already taxed! why all the waivers is my assumption.

    CONGRESS using public funds for the first time pays the interest due annually to CIBC? who?

    Meanwhile none of this an obligation of Central Bank except by Bankruptcy controlled default of banks.

    Think about the fact ‘cash’ deposits posted by banks as expense.
    JMPMorgan Chase Bank Na fka Chase Bank USA NA deposits ‘expense’ Shadow Banking System.

    The ‘cash’ being lost by JPMorgan is expense right?

    Now think about “Where is all that money going?

    Inflated Appraisals done in Secondary Market are done by Affiant & Attorney Trustee Guaranty ‘Opinion’ a Waiver Iowa Financial Authority SYNDICATE and during default TITLE released in CA by mortgage default processing company that does not /and is not required to have a legal license passes via private courier to RELS TITLE SETTLEMENT LLC Michigan ATI mark
    (First America/Norwest Mortgage partnership).
    Inflated Appraisals as Assumption of Risk and Joint Venture with the Pretender Lender
    Nancy Drewe, on July 13, 2012 at 8:00

    Neil, as Amy and I’ve shared with you and Kathryn I ponder why a legal mind would remain silent. Do you know why attorneys are wanting to remain Ignorant of facts and all say ‘we can’t use that information yet.’ WHY?

    Allege “Concealment” ‘note’ sale to Wall St. after closing in which SYNDICATE ‘First American, Norwest Mortgage, inc. taking TITLE – holds title as REO (of which the sale of the REO generates the hedge funds).

    Delegated Underwriter Servicers “DUS” (WELLS FARGO BANK NA DEFINITION)

    DUS transactions of Wells Fargo Bank NA TRUSTEE all about ‘TITLE’.

    First American is an affiliate of Wells Fargo Bank NA TRUSTEE. How do I Know? I’ve researched and read actual contracts and agreements, and which ‘marks’ may / are allege being used in commerce as governmental approved monopoly, allege which waivers, which exceptions RESPA Reform Act all ‘mortgage broker’ to not reveal how they are being paid for taking ‘note’ signed at real estate closing to Wall St.

    The only hard fact ‘everyone’ has in common is Title “COMMITMENT” of which a significant portion is concealed from consumer.
    SYNDICATES’ Trustee creates policy-underwriting sale of note to Wall St. following closing. All harms follow after consumer does not look back. They count on it! If you did you’d see what we see that the encumbrance and liens affixed to property during original closing. You said you could get private investors lien report. How do I get one for my property? Must I be an investor?

    SYNDICATE of Investors use REO proceeds as hedge fund!
    Now what?

    How much longer will attorney’s like you choose to look at what is recorded in public record and ignore what is recorded in private investor world?

    Patent: 1003 Electronic Uniform Applications Fannie Mae & Freddie Mac -Delegated Underwriting
    h t t p :// w w w .scribd . c o m/…

    WFB is a full service bank
    “At the request of WFB and in accordance with provisions of the CRA, this evaluation considers affiliate activities”
    “WFHM gives the bank the ability to provide mortgage services to all 50 states through more than 1,000
    mortgage stores, the WFB branch network, and the Internet”
    “innovative and flexible lending programs”

    “data from Federal Financial Institutions Examinations Council (FFIEC) website”

    Definitions Wells Fargo Bank NA & OCC have in Agreement

    Affiliate – Any company that controls, is controlled by, or is under common control with another company. A company is under common control with another company
    if both companies are directly or indirectly controlled by the same company. A bank subsidiary is controlled by the bank and is, therefore, an affiliate.

    Community Reinvestment Act (CRA) – The statute that requires the Office of the
    Comptroller of the Currency to evaluate a bank’s record of meeting the CREDIT NEEDS of its local community

    CREDIT NEEDS OF IT’S COMMERCIAL CLIENTS AS AFFILIATES….

    COMMITMENT FORM OF MORTGAGE NOTE IN OUR NAME SOLD TO INVESTOR and definition OCC of Wells Fargo Bank NA ‘TRUSTEE’

    OFFICE OF COMPTROLLER OF CURRENCY:

    WELLS FARGO BANK NA ‘TRUSTEE’ DBA RELS TITLE SETTLEMENTS LLC ‘WITH TITLE’ ORIGINATOR ‘SELLER’ REAL ESTATE OWNED PROPERTY.

    Delegated Underwriting Servicing (DUS) – A program whereby Fannie Mae purchases eligible multifamily mortgages from a corporation that has been delegated responsibility for originating, underwriting, closing and delivering such mortgages.

    Federal National Mortgage Association (FNMA) – Also known as Fannie Mae, this congressionally chartered corporation buys mortgages on the secondary market, pools them, and sells them as mortgage-backed securities to investors on the open market

    Federal Home Loan Mortgage Corporation (FHLMC) – Also known as Freddie Mac, this congressionally chartered corporation operates much like Fannie Mae (above).

    Mortgage-backed Securities (MBS) – A security that based on a pool of underlying mortgages that are typically guaranteed by a government agency for payment of principal and a guarantee of timely payment.

    Private Mortgage Insurance (PMI) purchased by the borrower to protect the lender in the event of default. Typically, lenders require PMI when the loan-to-value (LTV) ratio is greater than 80 percent.
    Qualified Investment – A qualified investment is defined as any lawful investment, deposit, membership share, or contribution that has as its primary purpose community development.

    Tier 1 Capital – The total of common shareholders’ equity, perpetual preferred shareholders’ equity with non-cumulative dividends, retained earnings and minority interests in the equity accounts of consolidated subsidiaries.

    12/18/2003: SYSTEM FOR FULFILLING LOAN APPLICATIONS FROM LOAN ORIGINATORS

    GET IT! LOAN ORIGINATORS MAY BE CALLED LENDERS UNDER ‘RESPA REFORM ACT’ GET IT?

    COMMITMENT IS NOT A LOAN ONLY A PROMISE OF LIMIT OF UNDERWRITING OBLIGATION!!!!!

    h t t p :// w w w .scribd . c o m/doc/98732617/1003-Mortgage-Broker-Loan-Application-with-Fannie-Freddie-e-g-FHLB-Des-Moines-CHEAP-MONEY-NOT-FOR-CONSUMERS-LOAN-ORIGINATION-SYSTEM-LOS

    ATI (mark) WALL STREET Meets Main Street: Secondary Market through which CONDUIT Sells Mortgage Notes to REMEC’s & Securitizes Asset-Backed Securities through Norwest Corp Insurance System ‘ATI’ Mark; Norwest Bank Minnesota NA TRUSTEE; Wells Fargo Bank NA TRUSTEE, Rating from S&P Based upon the Underwriting Claims Paying Ability of SYNDICATE ‘CTSLink’ Wells Fargo & Co/MN OWNER Mark & Wells Fargo Bank NA TRUSTEE Conveyance of Commitment back to Trustee for Affidavit & Seller’s Claims Paying Ability Clear private encumbrance, private liens: Old Republic [SEC: CORELOGIC-First American Financial Corp-American Title Insurance Co]I [S IT FRAUD WHEN ATTORNEY Conceals: FHLB Des Moines Trustee Guaranty Certificate for encumbrance ‘Creditor’ Underwriting Seller’s Default Insurance & PRIVATE LIENS AND ENCUMBRANCES BENEFICIARY INVESTOR FIRST AMERICAN? & STRATEGIC PARTNER NORWEST? FIRST AMERICAN & NORWEST MORTGAGE – RELS TITLE ATI Title Company -Old Republic Title Insurance – Norwest Corp System Co
    NORWEST MORTGAGE, INC.
    CONVEYANCE ‘ATI’ MARK TO RELS TITLE SETTLEMENT LLC
    NORWEST CORP SYSTEM (1994/1995)
    FORWARD: ESCROW CLOSINGS Claims PAYING ABILITY OF
    OLD REPUBLIC TITLE INSURANCE CO
    h t t p :// w w w .scribd . c o m/…

    WHO MADE DEAL ?
    RESPA REFORM ACT ‘ORIGINATOR’ CAN BE CALLED LENDER
    RETAIL CLOSINGS consumers have no ideal concealed from them are all private liens and private encumbrance the BUYERS Real Estate Lawyer takes control thru Title Commitment!
    Wake Up America – how many properties with clouded titles -private liens, private encumbrances. You can’t get reports. ONLY special Real Estate Lawyers Agents of First American Experian, RELS, INNOVIS can

    h t t p :// w w w .scribd . c o m/…

    EPIC BANKRUPTCY
    LANDAMERICA -LAWYERS TITLE -RELIANCE GROUP BANK SYNDICATE – REAL ESTATE LAWYERS QUIETLY COOPERATING ? 4/12/2012
    h t t p :// w w w .scribd . c o m/…

  24. Stupid people sign stupid contracts every day-K.Petrides

    LOSSES! JPMorgan Chase relationship in SYNDICATE NASCOR ‘Lender’s Agent’
    National Associations MERCHANT BANKS.
    Schema & scam you all fall for:
    The very Cash deposits into national banks booked as expense.
    A ‘credit’ created for account holder. Real owners of corporation keep beneficial interests in separate holding company one common stockholders without access or rights.

    OCC oversight of deposits FDIC bankruptcy handler of bailouts!

    Cash moves through national association, receipts are cash like equivalents which are taken to market. The Notes you signed are cash receipts in form valuable to Secondary Market: cash-like equivalents used in trading.

    The Sale of Note RECEIPTs do exist.
    Cashier Check and/or Wire Transfer both as
    ‘Purchase Ordered By: Delegated Underwriter Servicers of Fannie Mae/Freddie Mac and Lender Agent Correspondent as affilaites paid to take to market note held by investor and title held by RELS TITLE SETTLEMENT LLC: via ‘ATI’ Norwest Corp System-Underwriting S&P rate A+ Notes based upon Claims Paying Ability of Partner, Old Republic Title Insurance.

    First American/Norwest Mortgage Inc.
    Underwriting of Real Estate Owned ‘TITLE’ that SELLER’s Default Claims would be paid by the SYNDICATE:

    read the brochure for yourself. then get a grip on how ATI in Michigan waivers of real estate transfers may apply to movement of title to/from affiant Des Moines IOWA ATG Attorney Trustee Guaranty issued via Iowa Finacial Authority & RELS TITLE SETTLEMENT LLC One Home Campus Dr, Des Moines IOWA -GET IT! and First American’s mortgage default process which does not have to be done by a legal licensed professional and so on

    ATI (sm)
    http://www.scribd.com/doc/98426164/ATI-mark-WALL-STREET-Meets-Main-Street-Secondary-Market-through-which-CONDUIT-Sells-Mortgage-Notes-to-REMIC-s-Securitizes-Asset-Backed-Securities

    Owner: RELS TITLE SETTLEMENT LLC

    Sales of the ‘Notes’ sold in batch to Wall St. booked $/Share reveal health of a ‘Trust Fund’ which is held FEE SIMPLE and is not securitized!

    Go ahead and read the PSA spin and lose.

    Or move forward and look at TITLE and scam, schemea, affiliates members, partners, non-members, non-affiliates, agency, non-agency, dealers, brokers, distributors, agents secondary market

    Ask youself: How can the Note $/Share trading on Wall St. in book entry reported daily in form on Bloomberg, for example, as $/Share SASCO 2006-WF3 and note considered current and note not be securitized? It’s not per PSA ‘FEE SIMPLE’ US Dollars!

    Its right in front of your face.

    TRUST FUND assets held inside a ‘trust fund’ not a bank!
    Collection of like-kind assets ‘Titles unencumbered paid for by Investor for example! Investor using third party funds (its clients). Nice gig.

    PSA states held in FEE SIMPLE! FEE SIMPLE!
    That the Note will be reconstituted (like Orange Juice looks the same but is not the same) like a reconstitued image of a note!
    TRUSTEE of the Trust Fund will request holder of TITLE Syndicate FIRST American Financial CORP -Pawnbrokerage on SEC to release as an Accomodation only Title by First American and is Plaintiff in Court dba RELS TITLE SETTLEMENT LLC ‘aka WELLS FARGO Lender Premier Asset Services’ who will acquire TITLE using settlement funds and the robo-firm acting as SELLER’s Broker, and Coldwell Broker-OWNER with Premier Lending will acquire Real Estate Owned Property, and goes into 1031 Exchange pending settlements and finding another sucker to do it again sam.

    Sale of Real Estate Owned by SYNDICATE is the Hedge Fund.
    The REMIC funds will be used during Settlement following Foreclosure.

    Living Lies Article:
    Inflated Appraisals as Assumption of Risk and Joint Venture with… livinglies.wordpress.com

    Concealment of inflating as much as possible the commitment of loan the end game. The loan never issued to consumer and title held pending settlements.

    CONCEALMENT TITLE COMMITMENT void contract and what consumer forced to give back cash they never had but signed document that they had cash!

    Concealment Title Commitment private encumbrance, and private investor lines are purposefully withheld from consumer, e.g. Exhibit BI, BII, etc. There is no LOAN , you promised to sell property and a loan would be created up to the value of the commitment!

    Goal collect receivables cash from you & unjust enrichments alleged to include taking title to real estate owned property and all and any beneficial interests created using your likeness ‘living trusts’, annunities, etc, and any leftovers from PMI Group advancing to Delegated Underwriter Servicers “DUS” by Fannie/Freddie PMI Group credit enhancements up to additional $31K is it in the June 1, 2007 Master Trust Fannie Mae? Oh and other insurances including Seller’s Default Insurance Underwriter pays claims for Seller’s Default INsurnace passed by Robo-Firm e.g. Zucker Goldberg Ackerman LLC passes claims for liens affixed to property (any liens they want) and will take out of the settlements following foreclosure the REO proceeds pay themselves all of the advances recorded in bulk and other fees etc. received during settlements and don’t have to return excess cash to courts until? Anyone every see what cash is ever returned to court as ordered during settlement of 100% debtor with Trustee Guaranty Certificate?

    Title Commitment, OPINION only of value of commitment for a loan in event a loan were to be granted does not mean a loan was granted! The parties who provide the service are members of affiliates of the Delegated Underwriter Servicers.

    Why has not the real estate lawyers forecosure defense and TITLE EXPERTS not getting the real information available to investors? Investors reports include the INNOVIS report reveals the private liens and encumbrances are with. RELS LLC (Value It, VIE) Title Reports during foreclosure for SELLER: RELS TITLE SETTLEMENT LLC…. RELS & Experian’s Private Investor REPORT ‘Loan’ intead of ‘Sale’ sale occuring during default, and after default settlement proceeds, and resale of note new title commitment -title held pending another default.

    Neil, You said you could get a private investors report when we spoke. I want to purchase one through Neil Garfield Enterprises How do I do that?

    Facts of the Matter:

    The Title Transactions are the ‘Heart’ of the matter.

    You saw how the Trustee Guaranty Certificate, & CONSUMER & TRUSTEE of REMIC ‘TRUST FUND” are the Beneficiary and use false claims, file falsified documents, take unfair seizure of property.

    Yesterday, Today & Tomorrow:

    Stupid consumerS will agree to sign NOTEs and will participate in selling same to Wall Street. Title, underwriting held in Trust Fund FEE SIMPLE (US DOLLARS) in name of UNDERWRITERS!
    The daily spot check of health of TRUST FUND revealed to members of affilaites as Investors reported by BLOOMBERG for example as $/Share whose members, affilaites EDGAR On-Line(sm) Filing Agents are the very scammers and schemers who take unfair seizure of property, real estate own proceeds of settlements the hedge funds from each retail sale of REO!

    The investor as buyer of notes does not have title.
    Title held by SYNDICATE as real estate owned property REO get it?

    The deed in our name and the Title in SYNDICATE’s name.

    Real Estate Owned property. GET IT!

    Beneficiary interests held in our name as converted to debt.
    All of Maher Solimans good works in letting me know I was close I kept going and there is good reason not booked on books – the books not cooked by syndicate when a title has no value held as encumbrance right?

    REO proceeds held & are the hedge funds & any left overs following settlements between the Investor & SEC Filing Agent of the 10K what happens to that cash? starts all over from sale of note again to a new sucker or same sucker taking a modification wraparound..

    What’s this all about anyway? Savings & Loan disaster, CONGRESS used public funds for first time to bail out the same mess! Fannie Mae & Freddie Mac & RESOLUTION TRUST Co (Private Investors) arrangements. Do not have to pay off loans rather sell notes signed by consumers to Wall St. Syndicate for Delegated Underwriters Servicers:

    WHY? S&L Disaster 1989 SOLUTION use cash of consumer tax free already taxed! why all the waivers is my assumption.

    CONGRESS using public funds for the first time pays the interest due annually to CIBC? who?

    Meanwhile none of this an obligation of Central Bank except by Bankruptcy controlled default of banks.

    Think about the fact ‘cash’ deposits posted by banks as expense.
    JMPMorgan Chase Bank Na fka Chase Bank USA NA deposits ‘expense’ Shadow Banking System.

    The ‘cash’ being lost by JPMorgan is expense right?

    Now think about “Where is all that money going?

    Inflated Appraisals done in Secondary Market are done by Affiant & Attorney Trustee Guarnaty ‘Opinion’ a Waiver Iowa Financial Authority SYNDICATE and during default TITLE released in CA by mortgage default processing company that does not /and is not required to have a legal license passes via private courier to RELS TITLE SETTLEMENT LLC Michigan ATI mark
    (First America/Norwest Mortgage partnership).
    Inflated Appraisals as Assumption of Risk and Joint Venture with the Pretender Lender
    Nancy Drewe, on July 13, 2012 at 8:00

    Neil, as Amy and I’ve shared with you and Kathryn I ponder why a legal mind would remain silent. Do you know why attorney’s are wanting to remain Ignorant of facts and all say ‘we can’t use that information yet.’ WHY?

    Allege “Concealment” ‘note’ sale to Wall St. after closing in which SYNDICAE ‘First American, Norwest Mortgage, inc. taking TITLE – holds title as REO (of which the sale of the REO generates the hedge funds).

    Delegated Underwriter Servicers “DUS” (WELLS FARGO BANK NA DEFINITION)

    DUS transactions of Wells Fargo Bank NA TRUSTEE all about ‘TITLE’.

    First American is an affiliate of Wells Fargo Bank NA TRUSTEE. How do I Know? I’ve researched and read actual contracts and agreements, and which ‘marks’ may / are allege being used in commerce as governmental approved monopoly, allege which waivers, which exceptions RESPA Reform Act all ‘mortgage broker’ to not reveal how they are being paid for taking ‘note’ signed at real estate closing to Wall St.

    The only hard fact ‘everyone’ has in common is Title “COMMITMENT” of which a significant portion is concealed from consumer.
    SYNDICATES’ Trustee creates policy underwriting sale of note to Wall St. following closing. All harms follow after consumer does not look back. They count on it! If you did you’d see what we see that the encumberance and liens affixed to property during original closing. You said you could get a private investors lien report. How do I get one for my property? Must I be an investor?

    SYNDICATE of Investors use REO proceeds as hedge fund!
    Now what?

    How much longer will attorney’s like you choose to look at what is recorded in public record and ignore what is recorded in private investor world?

    Patent: 1003 Electronic Uniform Applications Fannie Mae & Freddie Mac -Delegated Underwriting
    http://www.scribd.com/

    WFB is a full service bank
    “At the request of WFB and in accordance with provisions of the CRA, this evaluation considers affiliate activities”
    “WFHM gives the bank the ability to provide mortgage services to all 50 states through more than 1,000
    mortgage stores, the WFB branch network, and the Internet”
    “innovative and flexible lending programs”

    “data from Federal Financial Institutions Examinations Council (FFIEC) website”

    Definitions Wells Fargo Bank NA & OCC have in Agreement

    Affiliate – Any company that controls, is controlled by, or is under common control with another company. A company is under common control with another company
    if both companies are directly or indirectly controlled by the same company. A bank subsidiary is controlled by the bank and is, therefore, an affiliate.

    Community Reinvestment Act (CRA) – The statute that requires the Office of the
    Comptroller of the Currency to evaluate a bank’s record of meeting the CREDIT NEEDS of its local community

    CREDIT NEEDS OF IT’S COMMERCIAL CLIENTS AS AFFILIATES….

    COMMITMENT FORM OF MORTGAGE NOTE IN OUR NAME SOLD TO INVESTOR and definition OCC of Wells Fargo Bank NA ‘TRUSTEE’

    OFFICE OF COMPTROLLER OF CURRENCY:

    WELLS FARGO BANK NA ‘TRUSTEE’ DBA RELS TITLE SETTLEMENTS LLC ‘WITH TITLE’ ORIGINATOR ‘SELLER’ REAL ESTATE OWNED PROPERTY.

    Delegated Underwriting Servicing (DUS) – A program whereby Fannie Mae purchases eligible multifamily mortgages from a corporation that has been delegated responsibility for originating, underwriting, closing and delivering such mortgages.

    Federal National Mortgage Association (FNMA) – Also known as Fannie Mae, this is a Congressionally chartered corporation that buys mortgages on the secondary market, pools them, and sells them as mortgage-backed securities to investors on the open market

    Federal Home Loan Mortgage Corporation (FHLMC) – Also known as Freddie Mac, this Congressionally chartered corporation operates much like Fannie Mae (above).

    Mortgage-backed Securities (MBS) – A security that is based on a pool of underlying mortgages that are typically guaranteed by a government agency for payment of principal and a guarantee of timely payment.

    Private Mortgage Insurance (PMI) – Insurance purchased by the borrower to protect the lender in the event of default. Typically, lenders require PMI when the loan-to-value (LTV) ratio is greater than 80 percent.
    Qualified Investment – A qualified investment is defined as any lawful investment, deposit, membership share, or contribution that has as its primary purpose community development.

    Tier 1 Capital – The total of common shareholders’ equity, perpetual preferred shareholders’ equity with non-cumulative dividends, retained earnings and minority interests in the equity accounts of consolidated subsidiaries.

    12/18/2003: SYSTEM FOR FULFILLING LOAN APPLICATIONS FROM LOAN ORIGINATORS

    GET IT! LOAN ORIGINATORS MAY BE CALLED LENDERS UNDER ‘RESPA REFORM ACT’ GET IT?

    COMMITMENT IS NOT A LOAN ONLY A PROMISE OF LIMIT OF UNDERWRITING OBLIGATION!!!!!

    http://www.scribd.com/doc/98732617/1003-Mortgage-Broker-Loan-Application-with-Fannie-Freddie-e-g-FHLB-Des-Moines-CHEAP-MONEY-NOT-FOR-CONSUMERS-LOAN-ORIGINATION-SYSTEM-LOS

  25. you tell half-truths and I’m the enemy?? of course they haven’t bothered you anymore – the HELOC was WIPED OUT WHEN YOUR FIRST FORECLOSED!!! your point will be more instructive if or when the statute of limitations runs on them for collection

  26. Yes, and tnharry clubs baby seals when he’s not evicting people.

  27. FYI Randy—tnharry works for and sticks up for the “enemy”…;)

  28. @tnharry

    That was BEFORE the foreclosure, smartypants!

  29. @randy, carie – of course, the fact that they were wiped out when the first mortgage foreclosed doesn’t hurt either i suppose.

  30. @carie: NICE!!!

  31. I told Chase (formerly WAMU) to back off on my HELOC—and they did—poof…without BK.

  32. @carie: Thanks : )

  33. @Javagold; Ahhh, thank you. : )

  34. Why do you continue to write false claims
    COMMITMENT does not have to be posted on books.
    There is no loan!
    REO sale as settlement ….between ‘TRUSTEE’ Trust FUnd and SYNDICATE

  35. HELOC=Home Equity Line Of Credit

  36. @tnharry; Wow, that’s cool. If I were in a foreclosure situation I would avail myself of that benefit. : )

  37. @Javagold: What’s HELOC? Sorry, kinda, sorta, new to the alphabet soup terms. : )

  38. just fyi as i posted this on an older thread on the topic of having a hard time finding and/or hiring an attorney:

    if any of you are near universities with law schools, i would urge you to contact them. often they have a class during the 3rd year where students take on cases through legal clinics and represent you using teams of students operating under the guidance of professors or practicing lawyers. i would think that some universities might find these mortgage issues to be of sufficient interest academically to jump into the fray.

  39. just think of all those worthless HELOC on the books at $50,000 $100,000 $150,000 or more !!!!!!!

  40. SOB, SOB, WEEP, WEEP, SOB, WEEP. I feel so sorry for the banks. Must be hard for them to go to work each day knowing this. (Sarcasm intended) :` (

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