Empty Paper Bags: Loans Never Entered Pools

Hat Tip to Ken McLeod, private investigator serving livinglies

LIVINGLIES VINDICATED!!!

99% of the Loans Never Were Transferred into Trusts

Editor’s Comment: The truth is coming out piece by piece. In this complaint a thorough examination revealed what we have been saying all along — the loans were NOT pooled, bundled or put into any trust. That means the entire securitization chain is a scam, supporting a Ponzi scheme that should result in criminal prosecutions.

What effect is there on mortgage documentation? Well for starters we already know that the payee, lender and secured parties were acting as sham entities even when they were otherwise real entities, like Wells Fargo.

The banks had to make some OTHER connection between the so-called pools that were in actuality unfunded trusts — and that explains why instead of producing real, accurate, truthful documentation they resorted to fabricated, robo-signed, robo-notarized documents executed by $10 per hour people whose only purpose was to act as “authorized signor” or “assistant secretary” neither of which designations is recognized by law. If you went to the bank to open an account or take a loan and insisted on signing with those designation they would refuse to open the account and rightfully so. But in millions of foreclosures, the reverse was NOT the case — they relied upon such bogus documents in order to sell bogus mortgage bonds backed by unfunded pools, SPVs, Trusts, REMICS or whatever else you want to call them.

The investors are clearly taking up the cause of homeowners and they have more clout, credibility and now the proof that their money was channeled in ways neither contemplated nor agreed as per the false pooling and servicing agreements and false prospectuses that were offered by Wall Street.

We are left with defective instruments that in the end bear no connection with those pools but which have documentation fraudulently obtained from homeowner borrowers in order to get money fraudulently obtained from investor lenders. They siphoned off the money using a variety or ruses and paid the investors as though the pools were real and funded with money or assets when in fact they were empty paper sacks.

They they traded on the loans pretending that they, the banks were the owners, and they sold them multiple times. Then they foreclosed on the properties alleging they were authorized agents of the pools when the pools did not exists. No trust exists if it is unfunded. When they were done, they took the profits and put it into their own pockets, leaving both the investors high and dry and doing the same for homeowner borrowers.

They took the losses and tried to throw them at the investors and used the losses in trading to beg for Federal bailout claiming that they were on the verge of collapse, which was true as to many of them, since they were reporting assets on their balance sheet that did not exist, and they were therefore both overvalued in the stock market, over-rated in the bond market, and always on the tip of collapse. This isn’t the final nail in the coffin of the mega banks but it certainly ties things down.

For homeowner borrowers, it is just as I said — the money was never channeled through trusts and instead of was kept by the banks to use for reporting trading profits in which the left hand sold to the right hand, plus fees, expenses and various other charges. They paid the investors out of continuing sales of bogus mortgage bonds — the classic signature of a PONZI scheme.

Thus the homeowner borrower attorneys take note: the origination documents are 99% invalid, the foreclosures are 99% invalid, and that means that the secured part of the obligation was never perfected and is fatally defective so that it can never be perfected without a signature of the homeowner borrower. That makes the obligation unsecured — money potentially owed to unknown creditors who were not disclosed contrary to the requirements of TILA, RESPA and state deceptive lending laws.

The obligation remains, but there are no creditors who are making the claim because they could subject themselves to predatory lending claims, fraud and other charges resulting in treble damages. The note is a recital of a transaction that never existed. It recites a loan from the payee or lender when neither of them funded or even purchased the loan. Make the allegation and ask for the discovery. They will collapse.

http://www.labaton.com/en/cases/upload/HSH-v-Barclays-Consolidated-Complaint.pdf

Salient Quotes from Complaint

1. This action arises out of Defendants’ conduct in connection with the offer and sale to Plaintiffs of certain residential mortgage-backed securities (“RMBS”). Plaintiffs purchased approximately $46 million in RMBS certificates (the “Certificates”) in connection with three securitizations issued and/or underwritten by Defendants. These three securitizations are commonly known by their abbreviated names, SABR 2005-FR4, SABR 2006-FR1 and SABR 2007-NC2 (collectively, the “Securitizations”). Plaintiffs’ holdings in the Securitizations, including purchase dates and amounts invested, are detailed in Table 1, infra Section I.

3. Through investigation of a large sample of publicly recorded mortgage documents, Plaintiffs have discovered that more than 99% of the mortgages in each of the three Securitizations were improperly or never assigned. In particular, many of these mortgages remain in the name of the loan’s originator or its nominee, and have never been assigned to the Trusts. While others were purportedly assigned to the Trusts, this was long after the securities were issued, contrary to the representations in the Offering Documents. Similarly, the promissory notes were not properly assigned in approximately 81.9% of the sampled loans.

9. By reviewing a large sample of loans in the Securitizations and comparing the representations made about them in the Offering Documents to publicly available data concerning those same loans, Plaintiffs have discovered that the Offering Documents understated CLTV by more than 10 percent in approximately 37% of the loans, based on the sampled loans.

Plaintiffs’ investigation has also revealed that the Offering Documents overstated owner occupancy rates by approximately 14.3% – 19.2%, based on the sampled loans.

14. Prior to their issuance of the Certificates, the Issuer Defendants were specifically informed that large numbers of loans in the Securitizations did not conform to the underwriting guidelines of the originators, including with respect to CLTV ratios and owner-occupancy rates, in reports from their due diligence vendor, Clayton Services Inc. (“Clayton”), and had no compensating factors. Despite having been expressly advised that many of the loans failed to comply with underwriting guidelines, the Issuer Defendants nevertheless included large percentages of these non-compliant loans in the Securitizations, and falsely represented their quality and characteristics to Plaintiffs and other investors.

32. HSH is the subrogee of both Carrera and of Rasmus as to their rights and claims relating to their purchases of certain of the Certificates. At all relevant times, a majority of the credit risk associated with the Certificates was borne by HSH, because Rasmus’s and Carrera’s ability to repay their debts was dependant on the value of, and/or cashflow expectancy from, the assets each held, which included the Certificates. HSH’s rights of subrogation flow from its acquisition of Certificates from Rasmus and Carrera at or near par value subsequent to the losses.

This acquisition was necessary in order to protect HSH’s economic interests, which were at risk due to HSH’s contractual obligation in their role as Liquidity Provider, Capital Noteholder and/or Letter of Credit Provider to cover certain debts, and/or absorb certain losses, of Rasmus and Carrera.

53. Through investigation of publicly recorded mortgage documents, Plaintiffs have discovered that, contrary to the Issuer Defendants’ statements in the Offering Documents, virtually all of the mortgages and promissory notes that were represented to have been assigned to the Trusts were not in fact assigned to the Trusts at the time the Certificates were issued.

Plaintiffs have conducted two separate investigations, with a combined sample size of more than 2,000 mortgages from the Securitizations, and have found that not one of the sampled mortgages, which were all represented to have been assigned into the Trusts prior to issuance of the Certificates, was in fact timely assigned to the Trust.

55. This belief was an essential part of the contracts to sell the Certificates. Plaintiffs would not have purchased so-called “mortgage-backed” securities that were not actually backed by the mortgages represented to be in the pool, for at least two reasons: (1) when these securities are not backed by actual mortgages or notes, the Trust is left without any recourse against a borrower that ceases to make payments; and (2) valid and timely assignments of the notes and mortgages are essential to the Trusts’ tax status as REMICs, and therefore are necessary to avoid highly punitive tax consequences.

60. Plaintiffs have investigated and analyzed loan-level information for each of the Securitizations to determine the accuracy of certain representations made in the Prospectus Supplement, including the assignment of mortgages and notes to the Trusts.

61. In two separate investigations, Plaintiffs have conducted a review of publicly available mortgage documents at county clerk’s offices across the country for the mortgages and/or notes that were represented to have been deposited into the Trusts.

62. Both investigations have independently revealed that over 99% of the mortgages and notes were not properly and/or timely assigned to the RMBS Trusts.

64. This investigation revealed that of the 987 total mortgages sampled, none were assigned to the Trusts at the time of the issuance, as was represented in the Offering Documents, and only seven were assigned to the Trusts within three months thereafter, as is required by REMIC tax laws. Thus, over 99% of the sampled mortgages were either improperly assigned to the Trusts more than three months after issuance or were never assigned at all – in direct contradiction to the representations in the Offering Documents provided by Defendants and relied upon by Plaintiffs.

65. Specifically, approximately 38% to 61% of the mortgages sampled have never been assigned to the Trusts. Moreover, based on the sampled loans, approximately 38% to 61% of the mortgages were assigned to the Trusts more than three months after the Securitization closed. The overwhelmingly large percentages of mortgages for each of the Securitizations that were never assigned to the Trusts, and those that were not assigned at or three months after issuance, are set forth below in Table 2.

70. Additionally, in a separate investigation Plaintiffs analyzed a different sample of 600 mortgages from SABR 2005-FR4, 600 mortgages from SABR 2006-FR1, and 400 mortgages from SABR 2007-NC2. This investigation independently confirmed that the vast majority of the mortgages in the pools underlying the Securitizations were never assigned to the Trusts. Moreover, this second investigation also showed that of the mortgages that were eventually assigned to the Trusts, none were assigned prior to the issuance of the Certificates, as was represented in the Offering Documents, or within three months thereof, as is required by the REMIC tax laws. The results of this additional investigation and analysis are shown in Table 4 below.

74. The assignment of the mortgages and notes into the Trust is perhaps the single most essential part of the mortgage-backed securitization process. Without these assignments, the securities are not truly “mortgage-backed” at all.

76. Moreover, apart from foreclosure, the only other remedy available to the Trust to collect on the obligation where a borrower ceases to make payments is to bring an action in contract under the promissory note. However, the Issuer Defendants’ failure to transfer the notes into the Trusts prevents the Trusts from pursuing this remedy, meaning that where the mortgage and note have not been assigned, the Trusts have no legal recourse if a borrower ceases to make payments to the Trust and must incur a significant loss.

103. Accurate appraisals are crucial to the accuracy of CLTV ratios, as the value of the property (i.e., the denominator of the CLTV ratio) is the lower of either the purchase price or the appraised value of the property. If an appraisal is inflated, it will change the CLTV ratio such that the credit risk of the loan is understated.

104. As with owner-occupancy data, even small inaccuracies in CLTV ratios are material to investors, such as Plaintiffs, because they can have a significant impact on the risk of investing in the Certificates.

110. Apparent from this data is the fact that the appraised values reported in the Offering Documents for the pooled properties were significantly higher than the actual property values. These overstatements led to a material understatement of the CLTV ratios, and a corresponding understatement of the investment risk.

117. Clayton scored each loan it reviewed on a scale of 1 to 3. A score of “1” meant that the loan complied with the underwriting guidelines of the originator. A score of “2” meant that the loan did not comply with the originator’s underwriting guidelines, but had unspecified “compensating factors.” A score of “3” meant that the loan failed to comply with the originator’s underwriting guidelines and did not possess any compensating factors.

118. Approximately 27.3% of the loan files Clayton reviewed for the Issuer Defendants received a score of 3. Clayton provided detailed reports to the Issuer Defendants containing the scores of the reviewed loans prior to and during the preparation of the Offering Documents.

125. All of the loans in the three Securitizations came from two originators: Fremont and New Century. SABR 2005-FR4 and SABR 2006-FR1 were both entirely comprised of loans originated by Fremont and SABR 2007-NC2 was populated solely with loans originated by New Century.

131. The U.S. Senate Permanent Subcommittee on Investigations issued a 646-page report entitled “Wall Street and the Financial Crisis” (the “Levin Report”) which found that Fremont and New Century, in particular, were both “well known within the industry for issuing poor quality loans.”

133. New Century ranks number one on the Office of the Comptroller of the Currency’s (the “OCC”) “Worst Ten in the Worst Ten” list of the nation’s most egregious originators. This means that more foreclosures were instituted on mortgages originated by New Century in 2005 through 2007 in the ten cities with the highest foreclosure rates than any other originator in the country. This is the result of New Century’s dramatic departure from its own underwriting guidelines, which were supposed to prevent loans from being made to borrowers who clearly did not have the ability to repay them.

138. Ms. Lindsay further testified that appraisers faced extreme pressure from their superiors, and deliberately distorted data “…that would help support the needed value rather than using the best comparables….”

see HSH-v-Barclays-Consolidated-Complaint

102 Responses

  1. The very next time I read a blog, Hopefully it doesn’t disappoint me just as much as this particular one. After all, Yes, it was my choice to read, however I genuinely thought you would have something interesting to say. All I hear is a bunch of moaning about something you could possibly fix if you weren’t too busy searching for attention.

  2. […] fact that the “investors” didn’t hold the notes yesterday in a link to a Living Lies article entitled “Empty Paper Bags: Loans Never Entered Pools” which discussed HSH v. Barclays […]

  3. […] and the private-label would-be securitizers never actually took the notes by transfer and/or that the pools are empty because the purported pools of promissory notes that make up the MBS actually have nothing in […]

  4. You are so awesome! I don’t suppose I have read through anything like this before. So great to find another person with original thoughts on this topic. Seriously.. thanks for starting this up. This website is one thing that is needed on the internet, someone with some originality!

  5. Aw, this was a very nice post. Taking a few minutes and actual effort to produce a superb article… but what can I say… I procrastinate a lot and never manage to get anything done.

  6. Nail and hair, like, all appliances should be for a one with a disinfectant, but few can do it

  7. They are slowly turning the American people into microchipped slaves (OBAMACARE) to the debt of bankrupt institutions.

  8. The politicians would have us believe more jobs will save us. More jobs can’t save us when all we are doing is bailing out bankrupt institutions. They are turning us into slaves to these bankrupt institutions.

  9. This is outright robbery America. These debt collectors are imposters. They are stealing from the American people and handing our wealth and property to bankrupt entities who are pocketing more ill gotten gains…They keep getting paid for committing massive fraud with our signatures. Their debt is unsustainable …created by committing massive fraud..they owe a quadrillion dollars worth of derivatives fraud that can never be repaid. Time to seize the FED.

  10. WOW….! CNBC’s Rick Santelli speaking out again this morning…he said…The teachers are striking in Chicago about being evaluated on their job performance and they are being paid by bankrupt entities…

    THAT BEGS THE QUESTION…WHY ARE WE THE PEOPLE, IN MOST CASES, BEING FORCED & CONVINCED THAT WE MUST PAY BANKRUPT ENTITIES..? That is fascism.

  11. CNBC’s Rick Santelli just said it…..THE U.S. TAXPAYERS PAY FOR EVERYTHING….THE FED JUST PRINTS THE PAPER AND HANDS US THEIR BAG OF IOU’s…Thanks for telling THE TRUTH…Rick Santelli..!

  12. Last time I was in Chancery Court I heard a defendant’s attorney say loud and clear.. ……..”I’ve asked them for discovery and they haven’t given me anything yet. I am starting to think this mortgage doesn’t exist.” The judge didn’t have much to say to that.

    LOL..! Boldest thing I’ve seen yet by an attorney for a homeowner!…. I was both shocked and happy to see there are some honest attorneys in this state..!

  13. I will abstain here but do want to say that I have requested for clients over and time again, disclosures and none have come to date. This violates FSP FAS 140-4 and FIN 46(R)-8 whereby the Fed move in December 2008, followed the FASB issued memorandum concerning FSP SFAS No. 140-4 and FASB Interpretation (FIN) 46(R)-8,

    Herein are the “Disclosures by Public Entities (Enterprises) about Transfers of Financial Assets and Interests in Variable Interest Entities” (FSP SFAS 140-4 and FIN 46(R)-8). FSP SFAS 140-4 and FIN 46(R)-8 amends FASB SFAS 140 “Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities,”

    Neil Garfield picks his arguments weekly with hype that gets people to buy audits. Of what ?

    I beleive from my seconary experience and 25 years of this business that the issues surround the accounting for transfers and servicing of financial assets and extinguishments of liabilities,

    My God, how can a mortgage exist is the cost basis in the asset was extigiushied . On good faith ? Your making payments on good faith to a successor like One West who is receiving free mortgages to ramp up its portfolio. This involves the FDIC under the loss risk share program and splitting the write downs and losses from foreclosure sales that do not have an economic value until the time of credit bid.

    ”These disclosures denied the client is requiried of the public entities to provide additional disclosures about transfers of financial assets. (See FSP SFAS No. 157-3 – In October 2008, the FASB issued FSP SFAS No. 157-3)

    Upon my engagement I always ask the foreclosing party to disclose their method and means in accounting for transfers by determining the fair value of a financial asset when the market for that Asset is not active (See rules FSP 157-3).

    Likewise I could not get any assistance from One West to clarify the application of the provisions of SFAS 157 as for the inactive market and how an entity would determine fair value in an inactive market.

    Under FSP 157-3 and from date September 30, 2008, One West financial statements has continued to fail to include any disclosures of these provisions and unlike the client who is in default, has not materially affected the Company’s consolidated financial condition or results of operations.

    But thats not the problem I consider the greatest road block . Its the plaintiffs attorney that has no comprehension for what Im talking about

    MSoliman
    registerclaims.live.com

    Okay Neil …go to work …have your gang jump in and start calling me me a fraud again ….really bad taste.

  14. I will abstain here but do want to say that I have requested for clients over and time again, disclosures and none have come to date. This violates FSP FAS 140-4 and FIN 46(R)-8 whereby the Fed move in December 2008, followed the FASB issued memorandum concerning FSP SFAS No. 140-4 and FASB Interpretation (FIN) 46(R)-8,

    Herein are the “Disclosures by Public Entities (Enterprises) about Transfers of Financial Assets and Interests in Variable Interest Entities” (FSP SFAS 140-4 and FIN 46(R)-8). FSP SFAS 140-4 and FIN 46(R)-8 amends FASB SFAS 140 “Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities,”

    Neil Garfield picks his arguments weekly with hype that gets people to buy audits. Of what ?

    I beleive from my seconary experience and 25 years of this business that the issues surround the accounting for transfers and servicing of financial assets and extinguishments of liabilities,

    My God, how can a mortgage exist is the cost basis in the asset was extigiushied . On good faith ? Your making payments on good faith to a successor like One West who is receiving free mortgages to ramp up its portfolio. This involves the FDIC under the loss risk share program and splitting the write downs and losses from foreclosure sales that do not have an economic value until the time of credit bid.

    ”These disclosures denied the client is requiried of the public entities to provide additional disclosures about transfers of financial assets. (See FSP SFAS No. 157-3 – In October 2008, the FASB issued FSP SFAS No. 157-3)

    Upon my engagement I always ask the foreclosing party to disclose their method and means in accounting for transfers by determining the fair value of a financial asset when the market for that Asset is not active (See rules FSP 157-3).

    Likewise I could not get any assistance from One West to clarify the application of the provisions of SFAS 157 as for the inactive market and how an entity would determine fair value in an inactive market.

    Under FSP 157-3 and from date September 30, 2008, One West financial statements has continued to fail to include any disclosures of these provisions and unlike the client who is in default, has not materially affected the Company’s consolidated financial condition or results of operations.

    But thats not the problem I consider the greatest road block . Its the plaintiffs attorney that has no comprehension for what Im talking about

    MSoliman
    registerclaims.live.com

    Okay Neil …go to work …have your gang jump in and start calling me me a fraud again ….really bad taste.

  15. The banksters are just proxies….robberbarons for the elite and the SMOM/Vatican/Jesuits…the Vatican are represented as GOD at the top of the pyramid…
    http://electronzio.com/?q=node/567

  16. Take Goldman Sachs for example…they are one of the largest SMOM/VATICAN/JESUIT BANKING PROXIES IN THE WORLD….THEY DO EVERYTHING BY PROXY…

  17. What I meant to say is the Dept. Of the Interior funds for the Treasury through many “avenues” …the bureau of land management is one example of how it is done. It is deceptive of course, but that is the example of the order in which the lending to the FED is carried out…it is always by proxies….

  18. Speechless huh dc?

  19. Google search…is pt funding the U.S. TREASURY DEPT? Its a disguise.

  20. @ IVENT
    If you want to discuss mortgage law, do so—if its interesting i might respond but im not going to reinforce this sort of material any more
    goodnite

  21. It is called PT FUNDING….PEOPLES TREASURY FUNDING…

  22. CNBC anchor a few weeks ago said forget the fines for fraud……..CHASE should be writing a check to Treasury…

  23. That is how they do it Dc…THROUGH THE BUREAU OF LAND MANAGEMENT….google ….does the U.S. TREASURY FUND MORTGAGES….? THAT IS WHAT COMES UP….IT IS DECEPTIVE OF COURSE…THEY ARE NOT GOING TO COME OUT AND TELL YOU …YES…YOU HAVE TO DO YOUR RESEARCH…THIS IS WHAT THEY ARE HIDING…THE ORIGINATION FRAUD….

  24. BTW…The FED considers paying back the TREASURY….BUYING TREASURIES FROM THEM…THEY INVEST WITH OUR WEALTH….. AND DON’T REPAY IT….BLOOMBERG NEWS REPORTED THE FED COLLECTS TRILLIONS A MONTH IN MORTGAGE MONEY……BERNANKE SAID THE FED USES THAT MONEY TO BUY TREASURIES WITH…..THE TREASURY SPENDS BACK OUR OWN WEALTH…BY INVESTING OUR WEALTH IN THE FED TBTF CORPS LIKE AIG…THEN TAKING OUR WEALTH BACK IN THE FORM OF TREASURIES THEY SELL TO PRIVATE INVESTORS……LIKE RUSSIA & CHINA….AND WHO KNOWS WHO………IT IS A PONZI SCHEME SCAM WITH OUR WEALTH CALLED U.S. TREASURIES…

  25. What has this got to do with mortgage financing. This is a purchase of land by BLM—looks like maybe watershed –possibly drowned out area that nobody wants to provide a subsidy for flood insurance. this is certainly not typical of anything–I do not see anything unusual at all. Nor anything applicable to retail mortgage lending–BLM doesnt do that–treasury ids the paying agent for all govt purchases

    except personnel payroll–dept of ag

  26. I watched the Senate hearing with Bernanke…Bernanke said CONgress tells TREASURY HOW MUCH THEY CAN LEND TO THE FED…..Bernanke also told those lying bastards in CONgress that CONgress CREATED THE FED….and if they don’t like FED MONETARY POLICY…THEY CAN DRAW UP A MANDATE TO ABOLISH THE FED……
    HA..HA..HA…CAUGHT EM..

  27. NO D.C….THE TREASURY LENDS OUR WEALTH TO THE FED VIA CONgress…FED PRINTS THE MONEY WHEN CONGRESS OKS THE LOANS VIA TREASURY……How do I know this….? #1….When I was DENIED THE LOAN MOD….THE SERVICER TOLD ME…I WAS DENIED THE LOAN MOD BY THE U.S. TREASURY…..I TOLD THE JUDGE THAT THE FIRST DAY IN COURT….HIS EYES ALMOST POPPED OUT OF HIS HEAD…! #2…. READ THIS…….THIS IS THE ORIGINATION FRAUD THE FBI TOLD ME ABOUT…
    http://www.blm.gov/nils/AQ_handbook/h-2100-1/chapter-VII/chapVII-illus-18.htm

  28. RE what master servicer said about a surety claim….I haven’t looked that one up yet but I am pretty sure it means LAND GRAB BY THESE CROOKS DISGUISED AS THE GOVERNMENT……Well…not so fast with the PHONY TRUMP CARD……BECAUSE THE TRUTH IS…….
    WE THE PEOPLE ARE THE GOVERNMENT…

  29. IVENT
    The treasury dept collects direct excise taxes and indirect taxes on income via IRS and duties and tariffs via customs. Treasury also is responsible for preventing moneylaundering. These things must be done if you want to have roads and bridges and drinking water come out your faucet.

    I dont know a thing about your immigrant father which if like most fathers should be primarily intersted how well things worked out for you rather than him. Every group as immigrants got kicked in the head? Try Irish or German? Worse things were done to most in Europe—so get over it.

    Treasury collects about half of that spent. treasury borrows from the Federal Reserve or open market via Fed Reservey money creation. This is not some secret conspiracy. Ths is the way it has operated since it became fashionable to engage in defict spending on an unprecedented scale.

    As a beneficiary in near future of social security myself–I fear dependency on Medicare. govt health care is better than none infintely but its still a big step down from employer provided care.
    I fear devaluation of the benefits–Id rather have the money back they took and spent on wars and abandon the govt social security if it is to be so shamelessly debased.

    But govt needs to have tax collections in order for you to live outside of the mountains as a survivalist. Just to be able to plant a field and take in a harvest on a few acres is a huge and risky adventure. People complain a lot but most people freak out if their cable tv is briefly interrupted. They are not ready to give up the benefits of civilized govt—

    The question is how the govt spends money and the changes in proportional spending since 911. A lot of the expectations of baby boomers’ retirement were tossed out the window in the wake of the emergency spending that has still not stopped. But that is not the fault of the treasury dept—it just collects money and pays it out as directed by the whitehouse and Congress

    Now can we have an end to this–allow me the freedom of self-determination–I dont want to be preached to on political and economic issues and I cannot abide tax protestors–so please focus on how to present foreclosure defenses—if you have an economic interest in that topic.

    I pay attn to this because Im waiting for pieces of information—and closely monitor for particular occurrences: double claims on notes, seize and freeze and other insurance and resale price manipulation. An important issue for all should be the abandonment of provable discharge of indebtedness. See 3-601-603. HDC can burn Joe Sixpack anytime. This is the next big issue.

  30. When hosp-ice came in to kill my grandma the hosp-ice nurse told me …. this can happen to any of us at any time. Lovely thought huh..?

  31. They didn’t even show up at his funeral to play taps. That is the tradition for members of the military. They accidentally went to the wrong cemetary. We all said…just as well..Grandpa hated the army…he hated war.

  32. DC… I AM NOT A MEMBER OF THE MILITARY…MY ITALIAN IMMIGRANT GRANDPA FOUGHT IN WW II…HE GOT NO THANKS FOR IT…AFTER 9/11 THE ILLINOIS S.O.S. OFFICE TOLD HIM AT 70+ YEARS OLD… HE COULDN’T RENEW HIS DL LICENSE BECAUSE HE COULDN’T PROVE HE WAS A U.S. CITIZEN…AND IN FACT HE COULD BE A TERRORIST….WE FOUGHT THIS TO NO AVAIL.. HE WAS DEVESTATED….!

    The U.S. TREASURY IS THE TRUST FOR THE U.S. TAXPAYERS MONEY…WHEN YOU REALIZE EVERYTHING WE PAY IS JUST A FRAUDULENTLY INDUCED TAX …YOU WILL GET IT…LIKE THOSE MORTGAGE PAYMENTS…ALL OF OUR PAYMENTS KEEP THEIR PONZI SCHEME GOING…. ALL DEBT CREATED FROM CREDIT IS TURNED INTO A TAX FOR THE RICH TO COLLECT….AND NEVER REPAY…

  33. dc…I just read your Vietnam comment…what are you trying to communicate to me here…? Are you saying I am right about what they want is Complete Global Communism..? I told you they are sneaks. That’s what a credit system really is. They just disguised it as a monetary system….it’s not…They and it are IMPOSTERS..! Romney was trying to tell us that when he warned about Russia…you know its true when the media rips someone to shreds. Like when Sara Palin said she could see Russia from Alaska….she made that sound literal….it wasn’t. Not that I’m a fan of either party but those were inobvious truthful statements.

  34. IVENT
    “they didn’t use them to pay the U.S. TREASURY back for their loans”

    Im going to bite; Why do you think that borrowed money comes from the Treasury?

    You couldnt answer your age, sex, nationality or military status—-so what university did you get that combined masters in econ and pli sci from?

  35. johngault…the borrowers payments went overseas one way or another. One sure thing is, they didn’t use them to pay the U.S. TREASURY back for their loans..!

  36. Nomods said Dc is an ATM SALESMAN..LOL..! THAT’S SPOT ON..!

  37. Nomods…It is she…It sounds like dc likes the manufactured hell they created by ignoring the rule of law …THE U.S. CONSTITUTION..without our knowledge. He must be one of those who want us to believe the lie that the U.S. CONSTITUTION is just an old godamned piece of paper. He reminds me of that jerk lying president from Iran who said Capitalism is collapsing. The truth is, their system of credit is a sham and it has nothing to do with Capitalism. They designed the collapse because they want a global credit system…They are using Capitalism and their Global Credit Scam as a scapegoat for Crony Capitalism. The truth is they want to control everyone and everything with credit fraud.

    We need referendums on the 2012 ballot to restore the U.S. CONSTITUTION…ISSUE OUR OWN CURRENCY…ABOLISH OBAMACARE and the FED.

  38. @NOMODS

    You think I read your BS for enjoyment?

    I wish I could put a screen on your posts, along with that Sol character–its hard to imagine that somebody can go on and on but never say anything of any value—or even decipherable. But to be sure you not only do it —but you do it with such inarticulate meanderings. Its is as if you intentionally work to make sure you put as many words down as possible with the purpose of inviting a person to read it over and over and over for the purpose of assuring that there is absolutely no substance there. And to marvel at the degree to which a hard core alcoholic can build up tolerance. If I had a fraction of that uptake –i wouldnt be able to operate the keyboard.

    bottoms up.

  39. @NOMODS

    “dcbreidenbach you are a vile pathetic problematic concern to the chance people here who dont know they need to get off this site to save a home. An ATM salesman and and ex attorney representing apartment associations need to call this game over – You need to find work fool ”

    I am always deeply impressed by the shrill shreakings of people who operate under aliases. The foregoing is self-explanatory. Whats the problem–getting close to the botoom of the bottle and somebody forgot to deliver today’s fifth? What does cheap whiskey cost these days anyway?

  40. @NOMOD or whoever you are–im glad you are on the same wavelength as IVENT—id have been disappointed by anything different—What makes you think im not working?

  41. @ No. 3 in complaint in post:

    “Through investigation of a large sample of publicly recorded mortgage documents, Plaintiffs have discovered that more than 99% of the mortgages in each of the three Securitizations were improperly or never assigned.

    In particular, many of these mortgages remain in the name of the

    loan’s originator
    or its nominee,
    and have never been assigned to the Trusts.”

    Finally. ‘in the name of the loan originator or ITS nominee”. MERS is NOT the nominee (and has no relationship with the investors / trusts) for the investors in trusts, and finally, this is coming from someone on the other end of this mess (investors).

  42. To the Reader – “The fact the “LENDERS” never borrowed us any money and IN FACT the “LENDERS ” were the BORROWERS IN OUR NAMES from the U.S. TREASURY DEPT.”

    ***** yes This guy is saying more in his way of communicating then Garfield ever will . Read it again dcbreidenbach and again and again****

    dcbreidenbach you are a vile pathetic problematic concern to the chance people here who dont know they need to get off this site to save a home. An ATM salesman and and ex attorney representing apartment associations need to call this game over – You need to find work fool .Yes somthing stinks here and you need check your shorts. You need to work or let your boss know what you do all day . But most important “DONT LOOK STUPID READING THIS”

    The reader is teling you that GAAP FAS 140 and derecognition of assets and liabilities extinguished the obligation and causes the lender to become the debtor or Obligor on a bond.

    Thus the reader is right to say – The fact the “LENDERS” never borrowed us any money and IN FACT the “LENDERS ” were the BORROWERS IN OUR NAMES from the U.S. TREASURY DEPT.”

    NG you will never get this …so stop hiring people to teach you .

  43. dc…how much are they paying you to shoot the messenger.? Believe me its not enough. Lucid describes someone who is ill like a drug addict…that would not be me.

  44. @ER
    Thanks—presumably deutsche argued that it was not a debt collector

    hmmm–it would be nice to see the briefing

  45. NG, you said:

    “they paid the investors out of continuing sales of bogus mortgage bonds — the classic signature of a PONZI scheme”.
    okay, that sounds like a ponzi scheme, but what about the borrower’s payments?

  46. DCB,

    That one’s for you. Holden had countered Deutsche’s foreclosure with a FDCPA violation. Deutsche balked and tried to get the counter dismissed. Court said: No way. Ohio case.

    http://www.msfraud.org/LAW/Lounge/deutsche-v-holden_db-mtd-denied_9-12.pdf

  47. @IVENT
    You said;
    “The fact the “LENDERS” never borrowed us any money and IN FACT the “LENDERS ” were the BORROWERS IN OUR NAMES from the U.S. TREASURY DEPT.”

    Sometimes your comments are lucid–othertimes like this not even close to grammatically understandable—are there multiple ersons posting under this moniker–i note that you never respond either…hmmmm you get paid by the line right?

  48. “their debt is insolvent”

    I have no clue what you are attempting to express here—-entities are or may be insolvent–unable to pay debts—-i dont know what you mean—you keep stringing together words –is english a 2nd language for you?

  49. IMHO…What is more worrisome than the truth about 9/11 is how people keep showing up every 9/11 at the scene of the massacre to remember what…? The horrible way their loved ones died? I’m sorry but why would you keep going back to the spot where your loved one was massacred….? That memorial site …that big black poolnis hideous and depressing.. in fact, IMHO…it looks like the entryway to the depths of hell. They disrespect us under many guises and succeed by our willingness to believe their lies.

  50. He will show the man is clueless. So clueless . Do it Let every one hear him dismantle the livinglies hoax that has cause readers there homes for four years now.

    Who will show what hoax ???? Too many uses of he him to understand what this statement means–i cant tell who is getting lambasted

  51. Nomods…the CIVIL courts have NO LEGAL JURISDICTION…..THESE CASES BELONG IN CRIMINAL COURT…! THE STATE AGs OFFICE TOLD ME THERE IS FRAUD IN EVERY MORTGAGE…!

  52. It sure sounds like MASTER SERVICER is trying to convince us that something occurred at the closing other than INTENT TO DECEIVE.

    Something did happen. Its called a nationally recognized method of converting the states rules into a nationally recognized means of creating a markeatbale securtity that is not barred from each state juridiction over real property laws.

    Your foreclosures are happening in two segments. In Rem and in Personam .(go to work J Gault with more internet junkie research)

    lawsuit seeking a judgment to be enforceable specifically against an individual person.

    An in personam action can affect the defendant’s personal rights and interests and substantially all of his or her property. It is based on the authority of the court, or jurisdiction, over the person as an individual rather than jurisdiction over specific property owned by the person. This contrasts with in rem jurisdiction, or actions that are limited to property of the defendant that is within the control of the court. A court with in personam jurisdiction in a particular case has enough power over the defendant and his or her property to grant a judgment affecting the defendant in almost any way.

    West’s Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc.

    THE ACTION IS SPLIT TO WASH BACK ASSETS .READ MA LAND COURT DECISION . Look, personam action can decide the defendant’s personal rights and interests for all of his or her property. It is the authority of the court, over the person as an individual rather than jurisdiction over specific property owned by the person. NOT IF THE MATTER IN REM IS ALREADY DECIDED

    Now we have an even playing field .

    READ READ READ READ READ READ READ

    A court has enough power over the defendant and his or her property to grant a judgment affecting the defendant in almost any way.

    THE TRUTH WILL COME OUT – AND SILENCE ALL THIS NOISE – http://WWW.FORECLOSUREALTERNATIVE.WORDPRESS.COM

  53. The state AGs are participating in the Feds settlement Your clueless here . Stop .

  54. the truthfulness about this scam that Neil and others have proven by a lot of dedication and hard work.

    Put Soliman on the phone with Neil . Do it Garfield . He will show the man is clueless. So clueless . Do it Let every one hear him dismantle the livinglies hoax that has cause readers there homes for four years now.

  55. I caught the tail end of Rick Santelli on CNBC this morning saying something about it is OUR DECISION IF WE CAN AFFORD TO STAY IN OUR HOMES..? They are definitely up to something.

    There are only so many front row seats in a sold out event. Those in front row will win. This gangster bankster stuff puts you in thelast row. YESSSSSSSSSSS they are up to somthing. Find out and win damn it

  56. exposed to the tax consequences spelled out by the IRS….

    thats one of the parties foreclosing ….lost your lost

    http://www./foreclosurealternative./wordpress.com

  57. listen to Soliman …he knows. You conveyed your title . like it or not . it is in the contract you signed Your in a Federal Jurisdiction and cannot even overcome a 12b6 motion . your ranting and raving over ignorance

  58. @IVENT

    I just read in the last section of WSJ that Vietnam is having a bad bank year. The govt banks loaned a lot of money to wealthy [semi-commie I guess] developers for various real estate projects including apts for rent fo the newly affluent vietnames who are now making almost $5/day –or were before the collapse of demand for goods pretty much everywhere but Iceland.

    Not to fret though—although the developers borrowed all that money 1st thing they did was sieze land from peasants and then sell it to their bankrupt companies that borrowed the money to pay the huge sums to purchase the siezed land. So the developers have been able to stay high and dry—-even buy townhouses in London in case they need to hide out from the defraused citizens. So that part worked out Ok——-and then just to put your mind at ease—the commie govt and commie banks wont get hurt either because vietnam is making application to IMF for a bailout to cover the theft allowed by corrupt govt officials. So all is well that ends well.

    But as a post-script I need to remind you to put a few bucks aside every week from your unemployment check to be able to help the US financial markets chip in for this IMF bailout because otherwise speculation has it that JPM put down some sizable bets on Vietnam paying back all its loans —–and so this little “domino” could fall and next thing there would be global economic chaos —-and bonuses might get cut at JPM and that could cause a collapse in demand for Italian made yachts –layoffs of the guys that make gold-plated toilets—-and then Italy will need you to put up money for it too –and this will just cascade through the economy and the govt will have to increase the tax rate to 75% on your unemployment checks—etc—maybe establish a national sales tax at 20% on food –which will really be good for us because we americans eat too much anyway

    so when you think about the corruption among govts of all stripes and the billionaires bail out needs is really working out for the best for you—you can add 10 years to your expected life —-which should give you plenty of time to get used to being dirt poor—

    so there you can add another conspiracy to your bag of tricks—-but since i explained it to you could you cut back on the others—-its a neverending stream of news of corruption and theft —-so no need to dwell on it–just read the UCC and your rules of pleading etc so you can be more helpful to your atty —which I think is the real reason that sites such as this should be encouraged—–not to try to make you into a courthouse denizon–but to help your lawyer by locating useful facts—that may be out there on the internet rather than waiting a year for discovery of the same thing—it is very surprising to me how much is available on the internet—that there is info on internet that a collection agency will fight tooth and nail to prevent you from getting from them—but your atty will point out that you may have trouble admitting it into evidence–so thats what the atty is for –you do not have a chance against the complex interveave of procedure and evidence rules by yourself—or by resorting to this and other sites

    im not sure though how you pay for that atty when you have to kick in more and more to bail out every crooked dealmaker on the planet–thats globalism for you—but the flip is that you were able to buy toys made in vietnam very cheaply the past few years—so just be thankful

    geez–maybe those toys werent that cheap when you add in this cost

  59. E. Tolle, the State AG’s have been stuck in neutral since day 1. These people are all politically appointed Kronies. They want to keep their high paying positions so they have to be dull and boring. It is a miserable existance when money comes first in your life. Little do they know, as we have all found out, there is no security in their system. It is a complete facade that really benefits no one but the self appointed rulers. They give nothing of real value in return for loyalty. There is no real loyalty. Just more secrets, lies, deceit and fraud. Those who tire of their b.s. become their target. The truth is, they have all become too greedy. History shows, greed always destroys their evil plans.

  60. @E.Tolle

    you said:

    “…They truly hope that if they keep repeating it over and over, we the people will get it through our thick heads that fraud just happened, get over it, it was nasty, but that’s all behind us now.”

    Exactly true.

    When my friend went to Fannie/Freddie with the documentation PROVING the FALSE DEFAULT, EMPTY TRUSTS, and proof that it is COLLECTION RIGHTS ONLY related to these fake mortgages, THEY DID NOT DENY IT!!!

    This is what they said:

    “LET IT GO.”

    Fannie/Freddie and the mortgage industry and the courts want us to just keep on jump-starting false default debt derived from the biggest Ponzi in history…

  61. @ Enraged, it’s hard to get excited about any new mega-lawsuits. They all have the same findings…too high LTV%, appraisal fraud, no loan document transfer, etc. Then the TBTF mega-offender writes a check and admits no wrong doing.

    In a just world, meaning….one that upheld the law equally, the underlying loans would then be analyzed and the individual mortgagors would also be subject to a settlement or a claim for the very same LTV% and appraisal fraud. Last but not least, it would be recognized that the ability to foreclose has been lost, due to the same lack of transfers to the trusts that are underlying these suits.

    But they, Wall Street and D.C., treat us like we’re little monkeys in their zoo. We support them by working for a living, they live off of that living through derivatives. We are allowed to exist at their pleasure. They derive their existence from us, and we allow it, for they provide us ample circuses and bread.

    Let them sue each other to oblivion. They’re simply swapping spit. What does it serve us underlings?

  62. BOMBSHELL! BOMBSHELL! BOMBSHELL!- FDIC SUES THE BIG BANKS FOR MASSIVE SECURITIES FRAUD!
    September 10th, 2012 | Author: Matthew D. Weidner, Esq.

    http://www.mediafire.com/?0pf5ejqydyb1xgi

    The complaint is rather long but it is a good start. What I still don’t know is: where is all the money from the different settlements going? Of course, MSM hasn’t considered it necessary to mention this lawsuit…

    Where did the money received from HBSC, Barcklays and others go? Where will this go?

  63. @ Ivent, you said, “THERE IS NO LEGAL OR MONETARY FIX FOR FRAUD…”

    That in sum says it all. All of the “fixes” are completely ignoring the fact that every single financial institution defrauded the US citizenry ( actually globally) en masse. Paying a “pay to play” fine doesn’t cut it.

    Clear Title May Not Derive From A Fraud (including a bona fide purchaser for value).

    The Georgia AG was interviewed by an Atlanta TV station recently. The reporter mentioned the 49 state settlement and fraud in the same breath. The AG said that the frauds performed prior to the settlement were covered by the settlement….the reporter just stared at the AG incredulously and said, “But, it’s always been illegal to submit false documents.” More AG in the headlight stare…..

    The AG touted a new law that gives them the right to prosecute foreclosure fraud. What am I missing here? Didn’t they always have the right to prosecute fraud? He went on to say that, “….that if those individuals (committing fraudulent foreclosures) understand that they can be prosecuted, uhm, they’re going to follow the law.” I call bullshit.

    I would turn that around and say that if the 50 state AGs understood that they have ALWAYS had the power to prosecute foreclosure fraud, and that had they done so, we would have nipped this crap in the bud before it exploded into a multi trillion dollar Ponzi scheme and global implosion.

    Their excuses ring hollow. They truly hope that if they keep repeating it over and over, we the people will get it through our thick heads that fraud just happened, get over it, it was nasty, but that’s all behind us now. The banks have paid up and it’s time to move on. And since our fearless leader-in-chief has proclaimed, without any investigations, that no crimes were committed, it’s all good from on high.

  64. I greatly appreciate all of the truthfulness about this scam that Neil and others have proven by a lot of dedication and hard work.
    The only vote that will really make a difference is a referendum on the 2012 ballot to vote to restore the U.S. CONSTITUTION …ISSUE OUR OWN CURRENCY…U.S. BANK NOTES…PRIVATIZE OUR WEALTH…ABOLISH OBAMACARE…. ABOLISH THE FED.

  65. Thanks chunga. Problem is the tax code never applies to them. That’s why we need a referendum on the 2012 ballot to restore the U.S. Constitution…we will nullify them.

  66. The truth is dc…their debt is insolvent. Were any of the TBTF audited before the decision was made to bail them out…? NO…! That was criminally deceptive right there. When Enron was audited…what did they find…? They were INSOLVENT…!

    I caught the tail end of Rick Santelli on CNBC this morning saying something about it is OUR DECISION IF WE CAN AFFORD TO STAY IN OUR HOMES..? They are definitely up to something. WE THE PEOPLE NEED TO SUE THESE CROOKS FOR DEFRAUDING US….. AS ONE NATION…..WE THE PEOPLE -V-THE FEDERAL RESERVE.

  67. An entity that attempts to fill the empty bags after the trusts are closed is exposed to the tax consequences spelled out by the IRS below.

    http://www.irs.gov/irb/2009-20_IRB/ar11.html

  68. This decision is one of a recent line of Florida appellate decisions which require that a foreclosing “bank” establish, by competent evidence relating to either an endorsement or assignment or allegted transfer, that it was the owner and holder of the Note at the time that the foreclosure Complaint was filed.

    would not this evidence meet the presentment duty nder 3-501 also—-ie authority of a person in possession of note to enfrce—and similar close to 30309 re aff—?? is is it close to same objective?

  69. Master Servicer…of course they tendered the notes….We would not have the WARRANTY DEEDS if they did not tender the notes. The fact the “LENDERS” never borrowed us any money and IN FACT the “LENDERS ” were the BORROWERS IN OUR NAMES from the U.S. TREASURY DEPT. was intended to be deceptive.

    How do I know that….? They did not disclose that to us in their contracts.

    What occurred because of the ORIGINATION FRAUD can never be cured legally or monetarily. That’s why U.S. COURTS have ruled and upheld …….when fraud enters a transaction, fraud vitiates everything….and any act of fraud in a legal contract destroys the legal contract. That’s why the intent to deceive is criminal because deception is a set up to fail.

  70. All we can do is keep fighting on an individual basis. Interestingly, last year, Chase admitted to facing over 10,000 lawsuits. None of the banks has published the current numbers but I have the feeling that they are way up. Keep fighting: there is only so much lying, cheating and stealing they can do before they finally pay for what they’ve done. And the fact that banks don’t even show up in appeals court anymore is telling. They know they’re done. Only a question of time.

    FLORIDA APPEALS COURT REVERSES DENIAL OF POST-JUDGMENT RELIEF MOTION FILED BY HOMEOWNER

    September 5, 2012

    The Florida 4th District Court of Appeal has reversed the denial of a homeowner’s motion for post-judgment relief after a summary judgment was entered in favor of HSBC Bank as the claimed “trustee” of a Deutsche Bank securitization. Although HSBC claimed that it noticed the homeowner’s attorney for the SJ hearing, the attorney did not appear, which non-appearance the appeallate court found to constitute the type of “excusable neglect” which warrants relief under Florida’s post-judgment relief rule, that being Florida Rule of Civil Procedure 1.540(b).

    The homeowner was represented in the appeal by FDN network attorney Melvia Harris-Rozier, Esq. of West Palm Beach, Florida. The style of the case is Gascue v. HSBC Bank etc., 4th DCA Case No. 4D10-1379 (Decision entered August 29, 2012).

    The appellate court also found that there was no evidence indicating that HSBC was the holder of the mortgage at the time that the Complaint was filed, as the only “evidence” that HSBC was the alleged owner and holder of the Note was an affidavit filed 3 years after the Complaint was filed, which did not establish WHEN HSBC became the holder of the Note. This decision is one of a recent line of Florida appellate decisions which require that a foreclosing “bank” establish, by competent evidence relating to either an endorsement or assignment or allegted transfer, that it was the owner and holder of the Note at the time that the foreclosure Complaint was filed.

    The appeals court reversed the denial of post-judgment relief and remanded for an evidentiary hearing on the homeowner’s Motion, and also granted the homeowner’s Motion for Attorneys’ Fees.

    Jeff Barnes, Esq., http://www.ForeclosureDefenseNationwide.com

  71. @MS and author

    MS said ” It’s not the attorneys or the courts that need to get up to speed in this fourth year of the foreclosure crisis. It is the CPA’s who are filing tax payer returns and who are not talking to the IRS for clarification’

    Call me dense–but im missing any connection here with IRS matters–what does any of this have to do with income tax other than the debt forgiveness exemption?

    I think there is a lack of rcogntion that a damages offset against principal is not forgiveness—and if the settlement states it correctly it should not be a 1099 forgiveness for any damages offset.

    There should not be any 1099 if the claimant failed to present and discharge the note. There is no proof the debt was extinguished—release of the mortgage is not evidence of satisfaction of debt–or release of it

    please elaborate on irs stuff again—-im missing the boat–but lord knows its bad enough to have banks after you much less add irs

  72. It sure sounds like MASTER SERVICER is trying to convince us that something occurred at the closing other than INTENT TO DECEIVE.

    Now it’s a surety claim..? What? What’s that…?Because I don’t see that verbage anywhere in their bogus contracts..THEREFORE…I DID NOT SIGN OR AGREE TO THAT….! WHAT LAW UPHOLDS THAT CLAIM..?

    YOU SAID… No lender would get involved in a scheme and give unscrupulous “loans” that would cause their claims to default under the rights of a surety claim ..? YOU JUST DESCRIBED THEIR UNSCRUPLOUS LOAN PRACTICES RIGHT THERE…

    YOU SAID… There is a very fine line between a sham business transaction and a legitamite one. WHERE WAS THE SO CALLED LEGITAMITE _FINANCIAL_ TRANSACTION IN MY NAME……? I WANT THE “LENDER” TO PROVE THAT FINANCIAL TRANSACTION BY LAW, EVER OCCURRED. ANY FAILURE TO ABIDE BY THE RULE OF LAW BY “LENDERS” ” WOULD IRREPARABLY HARM THE DEFENDANT…….THEREFORE…I WANT THE SHAM “LENDER” TO PROVE THEY FOLLOWED THE RULE OF LAW THAT UPHELD THAT CONTRACT OR I NEVER SIGNED OR AGREED TO THAT CONTRACT…..

    ANY VERBAGE IN THEIR CONTRACT THAT WOULD DESCRIBE LAW BREAKING BY “LENDER” WOULD BE AN ADMISSION OF GUILT BY “LENDER.” SO I HOPE IT IS WRITTEN IN THEIR CONTRACT THAT THEIR FAILURE TO FOLLOW THE RULE OF LAW WOULD CAUSE THE MORTGAGE TO FAIL BECAUSE THEY WERE FULLY INTENDING TO BREAK THE LAW IN MY NAME.

    I WANT TO SEE THE CONTRACT I SIGNED WHERE I AGREED THE “LENDER” COULD OVERSELL MY SIGNATURE ON WALL STREET EXPONENTIALLY RENDERING THE MORTGAGE INSOLVENT…

    THE ” LENDERS ” CANNOT, BY LAW, CANNOT INSERT PROVISIONS TO THEIR CONTRACTS AFTER THE CONTRACTS ARE SIGNED….THAT IS CALLED FRAUD AND DECEPTIVE PRACTICES IN THE U.S.of A.

    THAT ACT DESTROYS THEIR LEGAL CONTRACTS…

    THERE IS NO LEGAL OR MONETARY FIX FOR FRAUD…

  73. Livinglies Editor – the loans were NOT pooled, bundled or put into any trust. That means the entire securitization chain is a scam.

    The argument fails as the trust scheme was a tax shelter and so called trust is for benefit of tax deferrals. No the trust argument is worthless in an argument and your giving fuel to an equitable court to rule it was never transferred and the beneficiary on the note is entitled to claims in a default.
    Your arguments make no sense, no sense and it’s a crime what you’re doing here. The AZ civil code will embrace the arguments you make here as the requirement to decide a conventional foreclosure. Are you really trying to get people off track?

    I originated as a principal from New Century, Citi Bank and others. I sold to GMAC and Bof A as well as Saxon and many of the credit companies going back to Ford Motor Credit and Sears.

    UCC Article 9 is important for perfection purposes?

    Your contributors like Max Gardner esq has told us this over and over and over and over . . . Why?
    Perfection requires some basic fundamental understanding for the transfer of internists to perfect. Do you know what they are? If so how do they come into play with the origination of the loan? Now we can see why the blank endorsement is important to your pray for relief?
    Did they tender the note? If so…so what? You’re claiming martial alterations and corrupt procedural practices without ever entering an ex parte pleading extrinsic production or motioning for hearing in institutional trust. http://www./foreclosurealternative.//wordpress.com

    This stuff is not for a homeowner pleading a conventional foreclosure or real property law and chain of interests. It’s not for a litigator either.
    You want to win these matters get a tax attorney and or counsel familiar with the tax courts demand for establishing a basis value in assts contested. If you argue the deal ever made it into trust you’re handing over the matter to the opposition under your state civil codes holding to the initial few paragraphs. If you’re not an insider and worked over the years this scheme and saw firsthand the scam that was being developed under the father and son executive office legacy – you’re not viewed as having much of a chance to win
    What you’re doing as a bar member (active or otherwise is puzzling) the bar appears to know what is happening as does the AG who your ask people to contact about Robo Signatures (why) the attorneys were asked to stay out of this. Countless articles and memorandums that state the ABA opposition to all this before it was lunched.

    Write me at http://www./foreclosurealternative.//wordpress.com

    (My own views and not that of anyone associated with this site or word press. Attorneys licensed by the bar are the only source of legal advice available to inform you of your rights. Call the state bar for more information)
    ,

  74. The lender is not the party named as you thinkThe arguments brought into court by your attorney must be within the confines of a well pleaded complaint. Hence the US homeowner needs to know what happened after they received a mortgage.There is a very fine line between a sham business transaction and a legitimate one. It’s not the attorneys or the courts that need to get up to speed in this fourth year of the foreclosure crisis. It is the CPA’s who are filing tax payer returns and who are not talking to the IRS for clarification.Our take on the matter is the only analysis that is soundly based upon a volume of substantive evidence.Who is the note holder?This question cannot be answered posed as a precedent to subsequent transfers. It must be addressed under the scrutiny of a subsequent events analysis. This is imperative as the party named in the note as the borrower is not one in the same with the obligor.Why is this important?Because the obligor cannot benefit from the proceeds of the financing he receives with the household’s authorization and or implied understanding that is documented accordingly and is discoverable.What does that mean?The loan you received harkens back to the great depression and time when this type of financing arrangement was cause for unscrupulous lenders to take advantage of title. Herein we attest to an abundance of evidence that highly disguised loopholes in the mortgage banking system both (a) do exist and (b) were in fact exploited..No lender would ever get into a scheme that clearly demonstrates the transaction causes his claims in a defaukt fail under the rights of a surety claim. In a surety claim, the borrower is obligated to a debtor and the debtor is the affirmed obligor to a succession of obligors.People, your effort to enjoin the transaction merits the arguments for a gratuitous surety. The surety argument will not survive in light of the evidence for something else believed to have occurred in the alternative.A well pleaded complaint will go beyond the obvious, presumed and even the appearance of a verifiable fraud. Why? Misunderstanding for one set of deal terms alleging a fraud may not be the correct portrayal of the matter whereby the alternative explains how the parties were compliant.Irreparable harm is impossible to prove if you’re the party held to breach the agreement.  Irreparable harm is somewhat a better chance to prove if your claims prove “they” are the party held to breach the agreement. Of course, right?Wrong! Irreparable harm is more likely to succeed if it can be shown the parties willfully breach the agreement, as is or in the alternative for claims, whereby you’re seeking enforcement to avoid lossOur conclusions are, the lender is not the party named to the promissory note as you think. If this can be shown than concern yourself next with the purpose for filing claims. Are you filing claims for repudiation or enforcement.Arguments state the note holder is a borrower only to the time the title holder is released from title. The devices and instrumentality use to corrupt the transaction are being applied again as the only means available to resurrect title. If so, and this is the case, enjoin the parties and enforce the transaction as it reads. This is the job for the attorneys. Hence, get the court to enforce the provisions of the transaction with no requirement to consider at what cost to either party.
    Herein you will find the prayer for enforcement a far greater cost to the opposition. Consider where they now must stumble for a whole new itinerary of affirmative defenses under a common law courts ability to decide the equitable elements as applied by letter of law.  Think .
    If you cannot use Mers and a stubborn court to repudiate for claims of a materially altered contract for example, then perhaps merit rests in counter claims the opposition is relying upon. My take on this is to use the simple mortgage electronic method of recording as an asset in claims and to seek judgment to enforce an agreement and not to denounce a materially altered contract.ID_Accounting@yahoo.com

  75. That video was a good rendition..the you tube video 9/11 COINCIDENCES …EPISODE 17 really made me furious..who was insider trading on gold and the put bets on American Airlines stock. They are boldly evil right in our faces because they want to scare us into full submission. Bush was right about one thing he said…..they hate our freedom.

  76. Great videos, enraged!

  77. Enraged…it is the U.N./NATO/VATICAN UNHOLY ALLIANCE…THE CHINESE AND THE RUSSIANS ARE IN BED WITH THEM TO..! Some people are confused and believe the BRICS NATIONS are a separate entity from the revived Roman Empire…..they are NOT…! COMMUNISM NEVER FELL…THEY JUST WANTED US TO BELIEVE IT DID…! Those crazy North Koreans aren’t so crazy..they don’t want their brand of Communism..they have their own..! The commie fascists have hijacked all Governments and everything by fraudulent money and investment scams…now they want to seize the AMERICAN PEOPLE…! They want a NATION OF RENTERS…! An attorney told me…Don’t sign or agree to any of their fixes for fraud because they want…..COMPLETE COMMUNISM…! THEIR DEBT IS UNSUSTAINABLE AND CAN NEVER BE REPAID…! Max Keiser said if they can’t fraudclose..they will probably gas the people in their homes…! This website has some interesting info…. http://electronzio.com/
    We need a referendum on the 2012 ballot to restore the U.S. CONSTITUTION …ISSUE OUR OWN CURRENCY…ABOLISH OBAMACARE..VOTE OUT THE CROOKS STARTING AT THE LOCAL LEVEL…Their war on the American people …WW III…began on 9/11..

  78. Foreclosures are the least of America’s problems.

  79. And in the meantime, non Monsanto BRICS countries are lending money to lots of non-Monsanto countries… while buying real estate here. Chinese, Indian and Russian investors are making a killing.

    People don’t learn. 300-year-old arrogant America out to teach the world how to live and going everywhere to fight battles it never had anything to do with while refusing to straighten out its banking system hasn’t learned one bit and is going down. America the “reformer” about to be reformed. What a joke!

  80. @AUTHOR SAID
    “Through investigation of a large sample of publicly recorded mortgage documents, Plaintiffs have discovered that more than 99% of the mortgages in each of the three Securitizations were improperly or never assigned. In particular, many of these mortgages remain in the name of the loan’s originator or its nominee, and have never been assigned to the Trusts. While others were purportedly assigned to the Trusts, this was long after the securities were issued, contrary to the representations in the Offering Documents. Similarly, the promissory notes were not properly assigned in approximately 81.9% of the sampled loans.”

    Then the originator–securitization private label files for bankruptcy—…real mess to unravel—-who has right to enforce these notes if the trustee in bk abandons them to the deemed trustee before realizing the transfers were not made? the entities filed for bankruptcy very quickly and insodoing created a mass of unassigned notes–no UCC 9 compliance much less 3 specific negotiation

  81. @Ivent,

    Hungary Is In Trouble After Throwing Out Monsanto AND The IMF

    Read more: http://theautomaticearth.com/Finance/hungary-throws-out-monsanto-and-the-imf.html#ixzz2686xlZaY

    IMF… Here’s the deal: IMF is Monsanto. Countries that kiss off Monsanto can forget being helped by IMF. Well, so far, many countries have decided to kiss off Monsanto:

    Brazil (big, huge 5 billion lawsuit going on. Monsanto can’t touch its corn anymore)
    China won’t let Monsanto anywhere near its rice
    India lost 125,000 farmer to suicide because of Monsanto. Banned in many provinces
    Peru banned it
    Poland banned it
    France banned it
    Italy won’t allow it near fruit and veggies
    Now Hungary and many more countries are refusing help if it’s conditional to Monsanto.
    California pushing for strict labeling.

    America has drones. Won’t last long. Drones paid for by Monsanto. Monsanto goes down, America goes down.

  82. Did someone say White Out? Oh I Love White Out! And Bubble Wrap To! Just Kiddin…. 🙂

  83. That was nice of them wasnt it Ivent, … My IMF went cur-plunk along with my husbands company pension and 401k after all these years putting into them saving for retirement.

  84. @DW: by “CLEAR TITLE” they really mean that they can white-out any owner’s name form title chain and robo-forge other names in its place!!! With courts & country recorders in their hands nothing they can’t do.

  85. It was sinister how FANNIE MAE structured those mortgages as bonds and allowed the IMF to be their biggest investor. Total B.S….!

  86. ” the secured part of the obligation was never perfected and is fatally defective so that it can never be perfected without a signature of the homeowner borrower.”

    won’t sign again, not gonna do it

  87. What was that you said about a signature Neil? … SAY IT LOUDER! … *smirks* . Oh did I mention we had invested in a few Prudential Stocks to? Roar”” Mr Banker … See our Teeth now? ~~Waves to Enraged~~ you know me, always hiding from my babysitter. *grins* Hope All is going Well for You!

  88. so far…and its not over, it appears the only thing we ever truely own is our own self, this body, this mind and this spirit and so we are rich even with nothing for those who get that…anyhoo, i saw a sight for sore eyes today it was on camelback rd for those who know AZ, it was a company called, wait for it…, CLEAR TITLE, it should say ha gotcha in the small letters.

  89. @Melissa,

    A friend of mine was adamant that he had to buy a house, especially today, when mortgage payments equate rental prices (yes, that’s how much rental has gone up in the last 2 years…)

    He bought a Maronda house. Almost no down payment. The only requisite nowadays is that both co-borrowers (husband and wife) must show a minimum 720 credit each. MERS is all over their paperwork. I warned them. I showed them article upon article of what that meant. They could pay $850/mo and (maybe) own the place after 30 years if the loan wasn’t transferred over and over or… pay $850/mo and rent forever while having the flexibility of chasing jobs and moving cross country.

    I showed them that Maronda had filed for Chapter 11. I told them that, in all likelihood, none of the manufacturing defects would be fixed under that chapter 11. I told them they would find construction defects. They still signed. They wanted to OWN. They wanted to settle down, whatever the hell that means when you have to chase jobs…

    They moved in 6 months ago. They’ve had constructions defects ever since, never repaired (Maronda promises but has no money and is under chapter 11 protection anyway). And they pay an association fee that has already gone up twice.

    People are stupid! They want to make THEIR mistakes. They won’t listen, they won’t learn from others’ mistakes.

    I’m sorry but… when you spend hours and hours teaching them and they still won’t listen, F’ them!!!

  90. Not that old. August 3rd, reviewing April 2011 and whether any progress was made. None was. MERS still appears on today’s closing papers.

  91. So we all know that this happen and is STILL happening. My question is how does a homeowner afford to fight the bank? When there are no jobs and everything costs 3 times more than it did a year ago, how does a person afford to fight? Besides those questions when a bank forecloses, and does it illegal why is this costing the homeowner thousands of dollars(that they don’t have) to get back what is theirs? The bottom line is MONEY, a homeowner needs alot of cash to fight these low life scum and to be able to live at the same time. And if that isn’t bad enough try to find a lawyer that isn’t as bad as the banks lawyers or judges that aren’t listening. Someone please answer those questions.

  92. The investors were insured on their risks with CDS insurance…if they are not satisfied with the payout or were uninsured, they need to take that up with their broker/dealer, retirement investment fund managers and the trustees for the trusts. We The People were robbed of nearly everything…they will get my remaining wealth…my properties, over my dead body…And I mean my dead body..not through escheat fraud and my dead fake corporate name.

  93. The crooks never thought WE THE PEOPLE were smart enough to ever figure out their scam. Thanks to some honest Americans exposing this, they got caught..However, we still have ALOT of work to do.

    We need referendums on the 2012 ballot to restore the U.S. CONSTITUTION and issue our own currency…U.S. BANK NOTES ….issued via State Banks….Abolish OBAMACARE…
    We The People need to sue the crooks who stole our wealth …ABOLISH THE FED…PRIVATIZE OUR WEALTH..

  94. That’s an old video and unfortunately nothing has changed—foreclosures are full speed ahead.

  95. @Javagold,

    Perfectly appropriate…

    “Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel. ~John Quinton, American actor/writer”

    Actually, I just came across a few more good ones. Common sense combined with humor makes for pretty good punchlines…

    We hang the petty thieves and appoint the great ones to public office. ~Aesop, Greek slave & fable author

    Those who are too smart to engage in politics are punished by being governed by those who are dumber. ~Plato, ancient Greek Philosopher

    Politicians are the same all over. They promise to build a bridge, even where there is no river. ~Nikita Khrushchev, Russian Soviet politician

    When I was a boy I was told that anybody could become President; I’m beginning to believe it. ~Quoted in ‘Clarence Darrow for the Defense’ by Irving Stone.

    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer, “the Mark Twain of American Socialism.”

    The Democrats are the party that says government will make you smarter, taller, richer and remove the crabgrass on your lawn. AND The Republicans are the party that says government doesn’t work and then they get elected and prove it. ~P.J. O’Rourke, American comedian and writer.

    I offered my opponents a deal: “If they stop telling lies about me, I will stop telling the truth about them”. ~Adlai Stevenson, campaign speech, 1952..

    A politician is a fellow who will lay down your life for his country. ~ Texas Guinan, 19th century American businessman

    I have come to the conclusion that politics is too serious a matter to be left to the politicians. ~Charles de Gaulle, French general & politician

    Instead of giving a politician the keys to the city, it might be better to change the locks. ~Doug Larson (English middle-distance runner, who won gold medals at the 1924 Olympic Games in Paris, 1902-1981)

    The problem with political jokes is they get elected. ~ Variously attributed to Will Rogers and George Bernard Shaw

  96. its time for fucking Fannie and Freddie to come CLEAN !!!!

  97. I would like to see something on the acquisition/sale of Bankers Trust and Deutsche…and what happened to those so called notes and mortgages included if at all in that acquisition…anyone knows? Something huge is covered up in this transaction and includes Bank of NY allegedly

  98. is that a light i see at the end of the tunnel…….since there are no trains running on this track,,,,,why yes i think it is !!

    Keep fighting for the truth …..dont ever stop !

  99. what every investor should know-

    The abominable banking system that is in place today, gives a bank great incentive to foreclose on an Ultra Vires contract, as the bank demands lawful money returned for the unlawful money lent.

    By what Authority are the Banks doing this? There is no authority for doing this. This is in complete prohibition to Art 1 Para 10 Cl1 of our US Constitution.

    All of our cases with slightly different facts all stem from the same Fraud.
    The Bank did not lend you ‘LAWFUL MONEY” but the Bank intentionally wrote
    a “bad check” and gave it to you –to circulate as “money”

    I certainly did not know this kind of fraud was going on when I signed my mortgage and note. Did you?

    The Mortgagor puts up a down payment, the Mortgagor pays a lot of fees and probably paid an attorney to represent them, all in order to get this “bad check”

    Would a Mortgagor have put in all that money, if one knew the truth of how the Banks ran their illegal business. I bet not.

    Did anyone notify you after that big day – the Bank’s check bounced – of course not. When the check that the Bank wrote came back to the Bank that wrote it, the bank didn’t say “we only have 5% , if that much and it was not stamped “insufficient funds” the bank stamped it “paid”

    So since the Bank did not have the money sitting in the bank’s account when they wrote the check, what the bank gave you is their credit.

    That is exactly what is prohibited by Art. 1 Para 10 Cl 1 of the US Constitution.

    What authority gives the Bank the right to make contracts with “bad checks”

    Nothing- Nada.

    “Lawful money” is needed to make a contract valid.

    Over and Over Mortgagors gave a Bank a mortgage on their castle , in return for a Bank giving you a credit entry on their books and charging you Interest on this credit. Also illegal.

    Did the Bank give you lawful money or is that what you got, credit?

    Banks are not allowed to lend their credit- Banks are in the business to lend
    “lawful money” There is not a Bank charter that allows a Bank to lend their credit.

    And as we continued to make monthly payments the Bank collected more money on their fraud.

    You try writing a check when you don’t have funds sitting in your account to cover it.
    You can be sure that check is coming back marked”insufficient funds” You are not allowed to do it and either is a Bank.

    This scam of Ultra Vire contracts caused injury to us, the true homeowners.

    In addition the banks are laundering “bad checks”.

    The Banks violate Truth in Lending Laws.

    The Banks are collecting Interest on money that doesn’t exist. (Lending you 5% and collecting Interest on 95% of thin air)

    And once the Bank gets their Ultra Vire contract going, they start flipping them to MERS, Securitizations , Wall Street, Title Companies etc. there is no shortage of people all wanting to get their piece of the illegal profits.

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