Federal Reserve Money Laundering For Dirty Banks

Since the Fed can create unlimited money, why not pay off every mortgage in the land? That’s only $9.7 trillion, and if the Fed wanted to unleash an orgy of spending, that would certainly do it. Trillions in losses would be filled with “free money,” since the Fed would pay the full value of all mortgages. —- Charles Hugh Smith, Of Two Minds

It is really up to each of us to demand, require and force an accounting for the money that has been taken out of the system and stolen from creditors and borrowers BEFORE we allow another foreclosure. — Neil F Garfield, www.livinglies.me

Editor’s Note: The article below by Charles Hugh Smith from Of Two Minds, strikes with great clarity at the heart of the nonsense we are calling “foreclosure”, and which is corrupting title for decades, taking the confidence in the U.S. economy and the U.S. dollar down with it.

This is the first article I have received that actually addressed the issue that the mortgages, especially the worst ones, were paid off in full. They were paid in full because the supposed mortgage bonds that included shares of the mortgage loans were sold to the Federal Reserve 100 cents on the dollar. Now either those mortgage bonds were real or they were not real. There is nothing in between. What we know for a fact is that the entire financial industry is treating them as real.

The ownership of the bonds was transferred from the trusts, therefore, to the Federal Reserve. While there is little documentation we can see that reveals this, there is no other logical way for the Federal reserve to even claim that it was “buying” the mortgage bonds and the loans.

Either each trust became a trust solely for the Federal Reserve, or the Federal Reserve, bought the bonds directly from the investors.  But since everyone is treating the trusts as valid REMIC entities that do not exist for tax or other business purposes, then the trust did not own the bonds, and only the investors owned the bonds. But they were not paid. The Banks were paid and still allowed to foreclose — but for who?

If the banks took payments on behalf of the REMICs, then they owe a distribution to the investors whose losses, contrary to the reports from the banks become fully cured. That means the creditor on on the mortgage bond has been paid off in whole or in part. That in turn means, since a creditor can only be paid once on a debt, that the amount that SHOULD have been credited to the investors  SHOULD have reduced the receivable. The reduction in the receivable to the creditor should correspondingly reduce the payable due from the borrower. Thus no “principal reduction” should be required because the loan is already PAID.

Why then, is anyone allowing foreclosure of the mortgage loans except in the name of the Federal Reserve? This article explains it. For the full article go to Smith Article on Rule of Law

From the Smith Article:
In a nation in which rule of law existed in more than name, here’s what should have happened:

1. The scam known as MERS, the mortgage industry’s placeholder of fictitious mortgage notes, would be summarily shut down.

2. All mortgages in all instruments and portfolios, and all derivatives based on mortgages, would be instantly marked-to-market.

3. All losses would be declared immediately, and any institution that was deemed insolvent would be shuttered and its assets auctioned off in an orderly fashion.

4. Regardless of the cost to owners of mortgages, every deed, lien and note would be painstakingly delineated or reconstructed on every mortgage in the U.S., and the deed and note properly filed in each county as per U.S. law.

That none of this has happened is proof-positive that the rule of law no longer exists in America. The term is phony, a travesty of a mockery of a sham, nothing but pure propaganda. Anyone claiming otherwise: get the above done. If you can’t or won’t, then the rule of law is merely a useful illusion of a rapacious, corrupt, extractive, predatory neofeudal Status Quo.

The essence of money-laundering is that fraudulent or illegally derived assets and income are recycled into legitimate enterprises. That is the entire Federal Reserve project in a nutshell. Dodgy mortgages, phantom claims and phantom assets, are recycled via Fed purchase and “retired” to its opaque balance sheet. In exchange, the Fed gives cash to the owners of the phantom assets, cash which is fundamentally a claim on the future earnings and productivity of American citizens.

Some might argue that the global drug mafia are the largest money-launderers in the world, and this might be correct. But $1.1 trillion is seriously monumental laundering, and now the Fed will be laundering another $480 billion a year in perpetuity, until it has laundered the entire portfolio of phantom mortgages and claims.

The rule of law is dead in the U.S. It “cost too much” to the financial sector that rules the State, the Central Bank and thus the nation. Once the Fed has laundered all the phantom assets into cash assets and driven wages down another notch, then the process of transforming a nation of owners into a nation of serfs can be completed.

Here’s the Fed’s policy in plain English: Debt-serfdom is good because it enriches the banks. All hail debt-serfdom, our goal and our god!

In case you missed this:

The Royal Scam (August 9, 2009):

Once all the assets in the country had been discounted, the insiders then repatriated their money and bought their neighbor’s fortunes for pennies on the dollar, finding cheap, hungry, competitive labor, ready to compete with even 3rd world wages. The prudent, hard-working, and savers (the wrong people) were wiped out, and the money was transferred to the speculators and insiders (the right people). Massive capital like land and factories can not be expatriated, but are always worth their USE value and did not fall as much, or even rose afterwards as with falling debt ratios and low wages these working assets became competitive again. It’s not so much a “collapse” as a redistribution, from the middle class and the working to the capital class and the connected. …And the genius is, they could blame it all on foreigners, “incompetent” leaders, and careless, debt-happy citizens themselves.

But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime. Frederic Bastiat, 1850

118 Responses

  1. http://www.veteranstoday.com/2012/12/14/the-federal-reserve-cartel-a-financial-parasite/

    above is one of a series of articles by Dean Henderson as excerpts from his book on the “Federal Reserve”

  2. @helen m,:

    What you have to say is very interesting … I would like to know more.
    Please contact me at: mrsdiamond@msn.com

    Thank you~

  3. Helen: is it this James Nutter? and where is a link to the book http://ma.mypublicnotices.com/PublicNotice.asp?Page=PublicNotice&AdId=2930217

  4. There’s a hot book Nutter the man behind the strings. Got this folks & it’s the only thing that explains what really went down in this mortgage crash stuff & the corruption. Book alleges James B. Nutter giving 1st sub prime loans through operatives in KC MO, controlling elections, law firm (SHB) allegedly collecting on 1st predatory loans. loans shows mortgage companies in early days regional mortgage & loans from James B Nutter in the 1970’s allowing folks to assume mortgages of others and the loans never show up in the names of those who assumed them then allegedly those same loans shifted to J P Chase, AMRO & others.

    Folks never got forms to report interest and no mortgage ever showed up recorded in the names of those paying that note at recorder of deeds. Paper work releases filed showing the original owner paid off note. which was a lie. 1st Owner who took out original loan may have been deceased but folks who paid the note name was never recorded.

    Book alleges Nutter had ties to Nations Title they were allegedly providing closing services for loans produced on minorities and all the crooked stuff did to them. Nutter & Nations were called on this after local CBS KCTV 5 did story where Nations title mishandled loan doc in dumpster. Allegedly some of those sub prime loans were from Nutter who alleged secretly controlled sub prime loan companies in others names. Nations got busted and so did Nutter, but nothing happened until new administration with Federal Trade Com under Obama & they both got off easy. No negative article showed up in local news about this & reporter who did story left town to work else where

    The deal is that records show Fidelity National Financial allegedly owned Nations at the time & they played a game letting the former owners of Nations title take the fall to keep FNF name clean. They didn’t do their job to expose the corruption knowing who owned Nations. Lots of documentation to support allegations lots of folks talking about this book.

    Nutter made sure none of the inner city folks got reverse mortgages he’d pushed recently, no they got sub prime loans & what’s worse a bunch of law firms were trustees for crooked banks that later became judges or in politics. like at superior bank

    Lots of older folks homes were paid off for decades that were not offered reverse mortgages, if these folks stayed in the homes they couldn’t do CDC development from money supplied by congress folks from HUD.they wanted urban renewal in areas nationwide sub prime allowed cheap way out to get folks to lose homes so the crooks wouldn’t have to pay fair market. This cleared huge tracks of land. Then books tells how Nutter financed many homes of politicos.
    Nutter allegedly controlled elections nationwide to keep folks in . Nutter is the oldest mortgage company in America circa 1951

    This is a wow moment folks. Nutter was allegedly on the Freddie Mac board appointed by Clinton. this is a wow book folks.

  5. This is so corrupt folks. run the Fed reserve officers thru their local recorder of deeds and see who financed their homes? be shocked, some of them have multiple loans 2-3 a year and whose to say they ever paid 1 dime on a mortgage What’s worse that 1 person whose makes sure their appointed all the way up to treasury sec allegedly have these deals make them show a check for a house payment, they allegedly can’t. . next they are immediately paid off from robo signers from Docxx or NTC in Florida or Lenders Processing. Note the same banks pony up the loans for these desparadoes Next SEC& Federal Trade folks & FDIC padres run into the same game luck. No one has checked it folks.

    take Thomas Honeig KC Fed Reserve now on FDIC they rotate the crops. What if some one placed these folks and legislature to stop laws from going forth to stop crooks and aid them getting rich to help banks, loan servicers & others. Look at American Home Mortgage now Homeward residential owner wilbur ross jr buying up assets of Lehmann brothers & how NY bankruptcy judge gets a big loan from one of the companies that Ross does business right before he decided to let Ross buy Lehanman brothers assets for very little.

    They were all in on this also FNF title & subsidaries nationwide allegedly processed the majority of sub prime loans last eyes to see the paper work knew about the fraud now on Forbes. lots of dirt to go around folks. The gov sues to stop folks from their day in court, never shows a check where crooked banks paid a dime. Why is HUD Fannie & Freddie Mac on every loan doc in predatory loans ? to fool borrowers, if they didn’t dig this why did they allow crooks to use paper work. They know what going on God will deal with them

  6. @DCB…. The Mug Shot on File confirms your description. I’ll never touch another Cheeto again.

  7. Enraged….who is going to arrest these crooks….? We need a military intervention & I don’t see that. We should have had that by now. IMPOSTERS have hijacked the country and we are being held hostage, extorted of all of our wealth by IMPOSTERS..posing as Americans…they are not our friends…
    http://electronzio.com/

  8. DCB,

    Those French don’t kid around once they get it. For Pete’s sake, they convicted their President (Chirac) as soon as left and they’re going after Sakozy for a lousy $300K in campaign contributions.

    I wish we did that here… We wouldn’t keep one guy!

  9. between May and October alone, nearly €12 million ($15.5 million) passed through the network.
    ?????

    a family in ky could do that growing pot—-internatl scandal????

  10. DC…nice try….like Obama…you failed.

  11. Coming soon in a theater near you. Or… in Wall Street and Congress. Hopefully really, really soon…

    Franco-Swiss Drug, Money Laundering Ring Broken Up

    PARIS October 10, 2012 (AP)

    French and Swiss prosecutors say they’ve dismantled a major drug trafficking and money laundering network, arresting 20 people on Wednesday, including employees of a finance company and major international bank.

    The network, largely members of an extended family that imported Moroccan drugs for sale in France, laundered millions over many years, according to prosecutors, who described the family as “masters of financial engineering.” The ring included at least one employee at a major international bank, the Swiss said.

    Police searches in France netted cash in dollars and euros, accounting documents, counting machines and weapons. In Switzerland, authorities found 160 luxury watches and jewelry worth nearly €1 million ($1.3 million), as well as cash.

    Paris prosecutors said between May and October alone, nearly €12 million ($15.5 million) passed through the network.

  12. it is an organized assault

  13. You trolls are clearly running out of ammo. You are shooting a lot of blanks…

  14. Imbecile…..

  15. Correct typo….WE NEED TO THROW OUT THESE IMPOSTERS..

  16. When you look just below the surface….all of these politicians though their methods differ……they have the same agenda …the communist agenda….Even Jill Stein hasa commie ageda under the guise of the environnent…Ron Paul….the Vatican gold back dollar…We need to restore the U.S. CONSTITUTION….THROW OUT THE U.N/C.F.R/AIPAC/FED/IMF/WORLD BNK/FREEMASONS…ALL THE SECRET SOCIETIES…POSERS….& IMOOSTERS & ISSUE OUR OWN CURRENCY..

  17. Imbecile.

  18. Its Just to Easy when they Dig their Own Grave and Jump in it for you! Shovels Anyone?

  19. That’s right enraged….! There are alot of imbeciles who thought they were smarter than all us……& they are beng exposed by their own perps….!

  20. Imbecile.

  21. You are right enraged…..those deceptive rambling posts by you and a few others have been recycled out of readability……They are no longer relevant…..like consumerism…they have run their course……and are insolvent.

  22. SC ….you said you have morals …. then why do you care what the servicers want….? Esp when you say you know what they did …..you know they don’t own these mortgages …. even if they are a subsidiary of these banks that does not mean they own the mortgage if the bank never did…….They are engaging in a cover up & more felonies..& so are the bank attorneys… So therefore you are a party to the crimes. The judges are as well for allowing this.

  23. @DCB,

    I get your point. 50 out of 96. It’s an enormous amount of trash to spill out. More than 50% of all the posts here. And none of it is recyclable!

  24. Shadowcat…we don’t give a damn what these servicers want. They are pimps for the FED crooks & the bank attorneys are acting like their ho’s..the judges are allowing this….. I won’t participate in that crime. I have morals.

  25. These traitors need to be arrested.

  26. Jamie Dimon was right, the politicians are NAZIS…!

  27. That RAT….PAUL RYAN HELPED CLINTON CRONIES DRAFT THAT PIECE OF FASCIST LEGISLATION …..SIMPSON BOWLES……PAUL RYAN IS A COMMIE TRAITOR….

  28. Demand these crooks pay for their own fraud debt America….! They owe a QUADRILLION in fraud….They have quintillions in ill gotten gains hidden overseas…..Stop the robbery…..! These crooked politicians want to tax 100% of our income next term….STOP participating, complying & conforming with this manufactured oppression America…!

  29. Here it is….Dimon was inadvertently warning US about what these traitor politicians are trying to do to destroy US…..they are fascists…read about Simpson Bowles fascism ….Jamie Dimon calls it Simpson Balls……IT IS TYRANNY….ANOTHER SECRET ROBBERY OF OUR FREEDOM…..
    http://www.businessinsider.com/what-is-the-simpson-bowles-debt-plan-2012-10

  30. Just looked up Simpson Bowles…..its more tyranny…….we need to vote these crooks out…. We need to draft our own legislation to MAKE THESE CROOKS PAY THEIR OWN BILLS..SIMPSON BOWLES PROPOSES MORE PUNISHMENT & ROBBERY OF THE TAX PAYERS & RAISING OUR RETIREMENT AGE……STOP PAYING THESE CROOKS AMERICA…..BOYCOT THEM…! These politicians are felons.

  31. The American people need to throw the crooks out…..Jamie Dimon called it Simpson Balls.

  32. This entire scam came from the FOREIGN CABAL OF FOREIGN INILTRATORS……THE U.N/WORLD BANK/IMF/FED/ESF/NATO/CFR/FOREIGN SCAMMERS ….WE ARE ALL HUMAN CAPITAL….B.S….they are predators.

  33. ITS CALLED THE NOTHING OF VALUE THEORY……THEY JUST CALL IT LABOR FOR VALUE……THAT’S HOW THEY GET OUR MONEY FOR NOTHING & THEIR SHIT FOR FREE……THEY ARE THE GAMERS OF THE SYSTEM…..NOT WE THE PEOPLE.

  34. DC…..The only madhatters ARE those who believe they are so practiced at the ART OF DECEPTION.. …….THEY ARE OF THE BELIEF THEY should be served breakfast in bed by THE AMERICAN PEOPLE & WE THE PEOPLE SHOULD OWN NOTHING OF VALUE & WORK FOR NOTHING TO PAY THEIR WAY…..THAT’S THE TRUTH…

  35. It is impossible to reach consensus in a group if there are irrational parties involved. The mad hatter illustrates that: that person would not be happy unless somebody served her breakfast in bed –paid he bills and took a shower for her. Impossible to deal with other than as was suggested. There are quite a few who are all too needful to pin their own deficiencies on everybody else—like alcoholics typically do. Paranoia from extensive brain damage.

    Distraction for the sake of attention seeking–or planted to create confusion—-iv seen many such efforts over years of govt affairs ops.

  36. SC…. the mortgages are insolvent because they oversold investments in things that never existed…..& they never held legal title to our properties…they should send us our Satisfactions of mortgages and stop committing more felonies to try & steal our property……

  37. In a free & open society we have come to accept way too much authority by others……that is unamerican…….General Smedley Butler said……when the Government starts treating our own troops badly we will know there has been a foreign invasion…..THE SAME THING GOES FOR THE AMERICAN PEOPLE……JUS GO AHEAD…INSERT THE WORD AMERICAN PEOPLE …This as been accomplished by SECRET SOCIETIES…….TRAITORS FROM WITHIN….

  38. The Question is … How do we make it right? Protect and Preserve the Rights of All Parties Involved instead of pitting them against each other? That is Exactly what the Servicers want us to do ….. Seeking Solutions

  39. The State can’t own what they never lent…these crooks are trying to fraudclose on the fee simple deed….to that I say….where is their receipts that prove they purchased my land…..? Same goes for the State…….BTW…..my residential property has no income….therefore, it is illegal to tax my land. They are taking money for something that DOES NOT EXIST WHICH IS REVENUE FLOW…..!

  40. I counter contend that the notes are counterfeits……and therefore, so are the mortgages …

  41. Fed. up with the Fed. says George Hunt: http://www.thebigbadbank.com/

  42. Hey DCB….Maybe you can start a new hedge fund….you could sell investments in the consumerism of the Brooklyn Bridge….? It has no income but, you could keep the Ponzi going long enough to get rich ….like what they did with Facebook…

  43. @SC
    The question I continue to ponder is whether the local tax administrator is a party to these suits in some cases. The County Prosecuter is commonly a defendant rep of the real estate tax authority. They want to make sure that they get those taxes. But the county recorder that is getting short paid? I saw one in the paper that named 5 different trusts as sequential owners of a loan–are there recording fees owed based on the face of the suit?

    But the income tax guys seem like the more fertile ground—Why should these foreign operations be exempt from all local taxes?

    The preservers provide services but dont charge or collect much less remit local service taxes where they perform the services. Maybe they pay their home jurisdiction–but doubtful–defense is did not do the service there. So they are exempt by default. Nobody locally ever sees the invoice for services. Maybe in Florida–they are most aggressive in US–if not tere then not being paid.

    The failed trusts–all cash flow efectively taxable—retroactively–statute of limitations not running on unreported income. If these entities were joined as one discovers the litmus test of failed trust–non-filed loan schedules–they could levey tax and start demanding info—whether its discoverable another question–maybe if its part of the case? Maybe a way to get more info with aid of prosecuter—but as you see if a nutcase does it –it poisons the well

    maybe NG needs to broaden the playbook–ad state ag and locas that have a financial interset in the note cash flow —i still maintain that the unproved note must escheat to the state

  44. HEY DCB….YOU CAN’T SECURITIZE CONSUMERISM….CONSUMERISM HAS NO VALUE…YOU CAN ONLY PAY TO PLAY WHEN YOU HAVE SOMETHING TO PLAY WITH……NOW YOU SEE IT ….NOW YOU DON’T…..THAT S CONSUMERISM ….IT IS AN ILLUSION…..LIKE SECURITIZATION… ALGORITHMS ….. MBS’s……..

  45. The truth is consumerism has been overvalued by a QUADRILLION dollars in fraud committed by Wall Street….& they have destroyed their own business model ….. and that was intentional and they don’t own us or anything else because they never owned anything in the first place……CONSUMERISM HAS NO VALUE & THEY ARE NOW INSOLVENT BECAUSE CONSUMERISM HAS NO VALUE………AND IT NEVER DID…..!

  46. You are such a Good Student! ~ Living, Loving, Laughing and Learning.

  47. This is what the attorneys are looking at—$385–but these are trained professionals that rest what they hear there on a pile of accumulated knowledge. They know immediately that one sort of suit is in equity and what that implies re “unclean hands’. They know what the standards are for MTD and summary judgment–evidence–or at least have a conversational understanding. Even if they arent in the business of filing 3 motions per day on a case –or simultaneously maintaing a case in 3 different forums simultanously–see City of Cleveland EG–

    some of the posters on this site might get value from this however. I am really curious how much the delve into the implications of securitizations–most attys not too up to date with SEC filings.

    http://mail.aol.com/37058-111/aol-6/en-us/mail/DisplayMessage.aspx?ws_popup=true

  48. I should say the INVESTMENT BANKS who VIA these LARGE INSTITUTIONAL INVESTMENT FIRMS who Rep hundreds of these corps like VANGUARD….& others and by proxy sell investments in our consumerism to the FOREIGNORS……..IT IS FAKE CONTROL BY OUR ENEMIES……LABOR FOR VALUE is nonsense……they really invest in THE VALUE OF CONSUMERISM…It is all speculation…..AKA FRAUD…IT IS GAMBLING ……NOT OWNERSHIP….BUT IT IS QUITE DECEPTIVE…IT IS DONE BY SUBVERSION & DIVERSION…IT IS CALLED INVESTING….BUT WHAT ARE THEY REALLY INVESTING IN IS CONSUMERISM….

  49. Speaking of AGs consents … cant, couldnt and didnt give away your private rights. If the local yolkels are stonewalling … take a peek under the hood of that fraud trust .. not paying income taxes and wallameian who walla walla meanie…. who do you see? Stonewallers? Perhaps…

  50. DCB…..THE INFO YOU ARE LOOKING FOR IS OBVIOUSLY NOT UNDER THIS HEADING…..CLICK ON THE HOMEPAGE & YOU WILL EASILY FIND WHAT YOU ARE LOOKING FOR….

  51. Anyone with a worldview of what America should be, they are not our friends….. They are AKA GLOBALISTS….THE CORPS WHO PRETEND TO BE AMERICAN INSTITUTIONS……BORROW OUR WEALTH…..NEVER REPAY US… & OVERSELL INVESTMENTS IN ALL OF OUR INALIENABLE RIGHTS…..THEY WANT A NOVUS ORDO SECLORUM……A NEW WORLD ORDER…….THEIR MISSION STATEMENT IS ON THE FEDERAL RESERVE DOLLAR NOTE….THIS IS NOT OUR CURRENCY…..THIS IS GOBALIST CURRENCY…….JESUIT/VATICAN/WORLD BANK MARK OF THE BEAST CURRENCY…….THEY ARE WHO WANT..ONE WORLD GOVERNMENT/ONE WORLD RELIGION FANATICISM……Their agenda is evil. They want to abolish all personal wealth, property, freedom & independence. They want a one world tyranny ruled by their beliefs….not ours. TOTALITARIANISM……THEY ARE COMMUNISTS, FASCIST, & NAZIS….THEY ARE ALL ONE DEMON….They have a secret luciferan agenda for mankind that flies in the face & is the exact oppoite of everything the Creator intended. They are greedy control freaks…..they have used consumerism as a weapon to rob us of our wealth & freedom.

  52. @ER
    I just looked at the site and see my one comment followed by 10–probably 12 by time write this from the “the zone”. NG has an interesting management problem. he apparently needs to expose himself to the extreme right wing to generate cash flow to justify his efforts. And his crew.
    The academic question i would like to pose but recognize cannot be answered: What is the core “type(s) of persons that he picks up in marketing through this site? If the core business is mainsteam people with sufficient acumen to think about self-help, are they going to have the same reaction many posters are having. Extremist off point noise is a turn-off……….one may tend to jump immediately to other sites. The one interesting feature here is free ability to discourse on current case-law and regulatory action. These are about things that people can actually do. Sure everybody that feels like it will make a difference goes and votes. Often its the devil i know vs the one I dont that aids incumbents: My guy has not been caught sleeping with boys or writing checks directly out of treasury—obviously bad judgment calls. But in the end, what can people do that are young and middle-aged –focused on their own and their young children survival to worry about.

    These groups unless they already are under-employed know that rocking the boat will be certain to buy you scrutiny from your local company management—as well as local police attention. Yours and your family especially picks up. You get visits from SR MGMT if you are lucky–by HR if you are not.

    So what can they do? Those facing financial ruin anyway really have little realistic choice but to initiate suit. The firms have a good playbook on the plaintiff forecIosure side. So for discerning persons able to focus their efforts, they need to partner up with an atty and do the footwork for him/her. They must have some access to open free interchange or they are SOL —typical state attys do not follow multi-state case-law trends. This site provides a multi-state trend discussion opportunity.

    I know there are many sites relating to florida and cal law–which is nice–especially given those ratios and shere numbers–but I have always been a multi-state guy and I know that they cross communicate on the opposing side across state borders and have a case sheet from several firms—Id love to be on MERS or LPS mailing list for their attys. thats the seminar i want to go to—and sit way in the back.

    The point is that multi-state contribution is essential to the functionality of the site in a competitve environment.

    My guess is that the people that are potential clients–service buyers are already overwhelmed with their immediate issues and do not have the time or toleration for distraction as elderly web denizons with nothing better to do may have.

    If these newby clients actually want to obtain financial relief either by sustainable reduction in payments–or by simple delay in hopes of the ever beckoning golden future i hear on tv pre-election, they better keep a tight focus on their immediate goals–and not be distracted–a point 1st made by another poster.

    References to world bank maneuverings amidst disintegrating international systems is way more than a person in trouble can afford to concern themselves. Its more like
    Who is suing me?
    What is it?
    What are its rights?
    what are my rights?

    Too bad there are not more women attys working this field in defense. agree with ER —

  53. Nah…I’m one of the good guys….theses entities I speak of…they are the beast with many heads..they are the serial killers of our wealth, freedom & independence. These debt creators…they are the Red Dragon….they are luciferian crooks who hide behind religion, atheism, politics, law enforcement, the judiciary, media & finance and pretend to be legitamite…they are IMPOSTERS…

  54. Boo Who? I didnt come here to make friends. I came here to deflate the eleinfant in the room. But when I piered it … It came back with Two Heads. Its Medusa! … Have you read “Silence of the Lambs”? Another Great Book.

  55. Dimon said China is our business partner & we should HELP THEM…! He said we don’t know how LUCKY WE ARE TO have a democracy and THE RULE OF LAW & LOTS OF SMALL BUSINESSES…..! He is the king of bullshit, that’s for sure….. Bloomberg news anchor said the Electoral College certainly doesn’t elect Jamie Dimon…..ooooh burn…! That’s right lady…you tell them..Democracy is a sham & a fraud….We don’t elect any of these crooks who are robbing & pillaging US..!

  56. You know what Shadowcat….you sound like Jamie Dimon….Simpson Balls & all that crazy stuff…yep…its official…..the inmates have hijacked the asylum.

  57. Enraged & DCB…You should tune into Dimon on Bloomberg….these are the nutjobs you should be worried about….Who are the bankers…Simpson Balls….LOL…! They are all insane…!

  58. Yep! Yep! …. She has duel sommin … And her intent is in NOT tollerable! NEIL>>>>>>>>>>>>>>>>>>>>>>>>>>> Muffle Her! I could NOT save her.. she fell thru the cracks. Explains the dirty Nose. But it was after retirement.. so its all good.

  59. Jamie Dimon said they are driving profits at the margins…..that is how economics works….(translation….that’s what built this monster)…..and that’s precisely why they don’t want Glass-Steagall….

  60. @DCB,

    I wouldn’t worry about the nutcases: during serious economic crises and in their aftermath, those as the first ones to disappear. They’re considered useless to society and they cost too much when they flip and have to be locked up. Happened during the Russian revolution, the Chinese revolution, when Hitler took the power, when Fidel Castro took over Cuba, in Chile and in Argentina. It happened everywhere and there is no reason to doubt that it will happen here.

    in fact, come to think of it, at the end of the “Massachusetts miracle” in the early 90s, when Bill Weld became governor, the first thing he did was to close the psychiatric hospitals and kick out all the weirdos in the midst of winter. Those who didn’t croak in the street moved to the West Coast.

  61. Remember that statement by Dimon folks….they only lend us credit if they can insure their “risk.”……..but remember they create that “risk”….therefore it’s a rigged game because the banks DON’T LEND THEIR MONEY…..WHAT THEY ARE REALLY LENDING US IS RISK….Dimon also said he did Bear Stearns a favor…. WOW…Who allowed the investment banks to create that fraud…..? They are a bunch of crooks & felonious liars….

  62. @IWANTMYNVP

    “…direct the question to him. Point blank state — priors were not paid off. Borrowers do have records, and GSEs have records. Explain why prior loans not paid off and prior trusts not paid by so-called subprime refinance. SEC is not in business for borrowers — only for security investors. They are protecting them, but who is protecting the borrowers??? AG settlement —- what settlement???

    LET HIM GIVE YOU AN EXPLANATION FOR THIS. And, if he tells you he wants proof — proof is evident by cancelled checks, title company unrecorded assignments, fraudulent discharges, and invalid lien cancellation. He needs to find out what trust the prior loan was in, contact the SEC, and find out if that trust was paid off by the refinance. Security investors are onto the fraud, have been for a long time. They were NOT paid off by the refinance. He just needs to really do his research. He will shock himself. Or, he already knows, and is covering…”

  63. @IWANTMYNVP

    “…Prospectus says that loans may or may not be GSE compliant. Almost every Prospectus says this. No one knows. But, they were NOT. It’s a big mistake to call these loans “mortgage” loans. If they were “compliant” — they would have been directly purchased/refinanced by GSE — and not placed in one of these so called subprime (false) trusts.

    But, that is not the focus. The focus is that that no one knows what is reported about them to the GSEs. At subprime refinance, loan is paid — but not by the borrower. Loan is paid by servicer/mortgagee, with insurance proceeds, to purchase from the GSEs. Yes, — loan is paid — just not by the borrower. Borrower remains in default — with the GSE — and with the subprime refinance so-called lender.

    Certificate investors purchased cash pass-through rights derived from these fabricated subprime loans — THAT IS ALL. No derivative of a “mortgage” loan, because there WAS NO mortgage loan. Nothing needed to be financed (except any cash-out), thus, security investors did not fund the loans. There were no loans to fund.

    Derivatives on valid mortgages exist, but the derivatives, and securities, and loans, attached to the subprime, were not valid. They were bogus. And, investors are winning monetary settlements. But, homeowner victims remain victims…”

  64. LOL….Dimon on a roll….he just said J.P. MORGAN died in Rome…..when asked about the millions in muni bonds the Catholic Church recently “purchased”……he said the Catholic Churches bond with Chase goes back hundreds of years…..& THEY STILL LEND MONEY TO CONSUMERS….& something with about credit insurance….He literally sounds insane…..but we nw know the TRUTH IS INSANE…!

  65. BTW …..That proves intent of what……? INTENT TO TELL THE TRUTH…?

  66. I’m not like Obama…& others..I posted comments under that name too at other sites….not here & I didn’t realize that name filled itself in…If I was hiding something….I would not have expose that….I have nothing to hide…..you trolls can’t dispute the TRUTH…..EVER…

  67. Neil is inviting a discussion about the truth. These traitors are the lunatic fringe & you can no longer dispute that. The tables have turned and the traitors are being revealed…..For example Jamie Dimon is addressing the COUNCIL ON FOREIGN RELATIONS…..THE CFR….He said THE GOVERNMENT IS AT WAR WITH ITSELF….He said if they had SIMPSON BALLS yes, that is not a typo. the economy would be great by now….he also “accidently” said the word NAZI….HMMM..? and something about getting rid of the HUGE WET BLANKET……..NOW, WHOSE NUTS….?

  68. AND STRIPES also said:
    FEDERAL RESERVE MONEY LAUNDERING…Therefore, my comments about the ESF are relevant to this story. This isn’t Sesame Street.
    So clearly nutcase is operating under 2 aliases—-this proves intent.

  69. Dimon right now being interviewed about Greek Default risk on Bloomberg news with CFR backdrop…

  70. Your point is taken—the author is inviting the lunatic fringe—but they dont stop there–every post gets hammered–does it justify the attacks? does it justify harrassment? more like HS 13 yr olds –not doing a service to sesame street—–doesnt change my concerns—please advise as to a clean foreclosure site—i dont need the neo-nazi noise—i can get that directly if i want it

  71. The title of the article is FEDERAL RESERVE MONEY LAUNDERING….Therefore my comments about the ESF are relevant….This isn’t Sesame Street…

  72. Hey las Vegas and DC…..The title of the article is ….. FEDERAL RESERVE MONEY LAUNDERING…Therefore, my comments about the ESF are relevant to this story. This isn’t Sesame Street.

  73. This torrent started at about the same time Autor stated that the site was being reviewed by wide domestic and internatl clientelle—-and he was doing interviews with some press—-it was sort of asking for this sort of attack.

  74. hey neil, do you have a moderator for this site? i have been following you for years now and don’t remember there being this much nonsense in the comments section.

    i appreciate all of the you who post relevant information.

  75. BTW DC….You trolls are stalking….and being very deceptive about it ….hiding your b.s. within your comments to try & get the truth off this site….Everyone should go to those links I posted. You can’t discredit the TRUTH…now can you?

  76. Another good story, this one is from Bloomberg News entitled: SECRET BANKING CABAL EMERGES FROM AIG’s SHADOWS…..
    http://mobile.bloomberg.com/news/2010-01-28/secret-banking-cabal-emerges-from-aig-shadows-david-reilly.html

  77. I looked at the Kansas case. It seems rational to me. Agency law. Mortgage follows note…..I wouldnt understand it were there any other conclusions. I wish they all would be so clear.

    BTW—I simply cant stand the high rate of insertion of crap—and the web-stalking by this one nutcase—every day we have somebody branded traitor or whatever–every day we have some normal person asking for relief—without getting it—there is no relief from this nut —only to leave the site

    Would anybody care to suggest another interactive site which is either pay or better policed. This one i have used for over 3 years and its been very helpful and but for a couple people –all are genuinely focused on issues rather than ….?

    But this shows that in the face of an oppressor there either has to be a line drawn or abandon—as far as newbies go—go somewhere else—the avalalanche of crap is driving responsible contributors away. The “contributions” of the nutcase are useless to anyone with a serious problem–and frankly i am deeply suspicious that the intended purpose is to drive the site out of business.

    please offer alternatives folks—-i like the format but the content has lost connection to the reality of people having to deal with precise forcelosure issues. its ok to have a little diversion –but not continuous harrassment and abuse.

  78. Something is blocking that link….you can also find the story here about the ESF…the links to the videos are at the bottom of the story…
    http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1349797067

  79. E Tolle & everyone…here is a good link to videos about….The ESF…..The Treasury’s Exchange Stabilization Fund….because of course, devils in the details.
    http://www.marketskeptics.com/2011/06-the-esf-and-its-history.html

  80. Bayview -V- Nelson….

  81. “A mortgage may become unenforceable when it is not held by the same entity that holds the promissory note. However, an exception exists where there is an agency relationship between the holder of the mortgage and the holder of the promissory note.”

  82. *****finding that MERS had an agency relationship with all of the lender’s successors, essentially making the splitting of the note and mortgage a non-issue.*****

    Before there can be successors rights, there must be agency 1st. ……… BBL …. I need to sharpen my pencil.

  83. BTW….E Tolle…..the title of the article is FEDERAL RESERVE MONEY LAUNDERING…..get a clue.

  84. linda…I am talking about the ORIGINATION FRAUD….and quite frankly, I have had enough of the deception…the coverup has failed. All I am saying is it’s time for the possum’s to go away now…no one believes them. If there are newbies coming to this site, this is their wake up call. They better do their homework. The charades need to stop. BTW..thanks for the link..

  85. E Tolle…Funny….everytime I say WORLD BANK or VATICAN you are all over it like you are being paid to protect them…I don’t think it is your place to tell anyone what the mission statement of this website is, and I do not believe you don’t get this is a monolithic conspiracy … I doubt you would have come this far without finding that out….that could only mean you have a hidden agenda & you are working to cover up the monolithic conspiracy ……….that would make you a traitor who is working for the enemies of freedom.

  86. @Ivent

    Sorry for the misspelling of your name. The print is quite tiny.

    You did not reply to my question: “Did I misunderstand…” the quote?

    I realize our mortgages have already been paid in full many times over.
    However, that does not stop the banks from foreclosing.
    Would debt forgiveness or some other term be more appropriate in this instance?
    No one should have to pay to support a fraudulent debt/loan/mortgage
    or whatever you want to call it. Moreover, they should not be forced to sue and/or be kicked out because they don’t choose to go along with the program, so to speak. But if we stop paying, they kick us out.

    If the mortgages were deemed “paid,” that would amount to a form of restitution to the homeowners for the banks’ wrongdoings. Mortgage forgiveness would turn the economy around. I believe Smith is saying that it’s easy enough to do, since the Feds print money all day, just print enough to get rid of the mortgage crisis. He is simply making a point, in my opinion, that with the Feds reckless spending, they could have paid off all the mortgages.

    Ok, no more explaining of the obvious. Please no more barking at me. I have a cold and am tired, so off to bed. Won’t be checking back for a response. Thanks.

    RE: VACCINATIONS:

    Here’s an eye-opening article on vaccines I just now discovered.
    http://www.naturalnews.com/033584_Dr_Maurice_Hilleman_SV40.html

  87. These wild-eyed posters have no idea that in their own way, they’re aiding and abetting the banks and their cause, only on an individual level. Goldman Sachs install their technocrats into positions of power in all major governments, thereby solidifying their takeover through legislation enacted on their behalf, not on the behalf of the citizenry. That’s the macro.

    On the micro-level, there’s the incessant rantings of these posters who have no direct knowledge, but instead have simply spent countless hours reading patriot sites and the like. The story they tell repeatedly is one that many here know intimately, as many of us have been around the block when it comes to the IMF, the World Bank, and other private financier institutions. But these endless diatribes shouted endlessly, in caps no less, serve just as evil a purpose by diluting the power of this website, by distracting from the stated aims of the site’s creator.

    Their constant hacking away at the keyboard makes it difficult for people who are in need of help, or simply seeking camaraderie while attempting to divine a defensive posture, to sort through the constant bullshit heaped on these threads. Gone are any meaningful discussion of tactics or purpose, case discussions or fresh ideas.

    The one thing I know for sure is that as difficult as it can be for those of us who are pro se in court, I take great comfort in knowing that against all odds and some really fierce opponents, I still have my sanity. From the looks of things on Neil’s site these days, I’m in the minority.

  88. This may sound off topic but its not…I did an anagram of the word vaccinations last night ..lets just say for the hell of it… I came up with one interesting combo…vaticanscion..hmmmm..more food for thought.

  89. Re sc’s comment at 4:45 …If Wall Street is abandoning Obama..what the hell is Romney promising them…? Certainly not audits & criminal prosecutions..

  90. DCB,

    And yes, all banks attorneys have to do is come here and read the posts… Afflicting.

  91. Yeah…that’s right las Vegas…. the lunatic ravings…. AKA the truth …do have a tendency to distract you from ALOT of lies, deception & other irrelevant crap..

  92. DCB,

    Did you see that Metlife v. Hansen I posted below? Click on the link to read the decision from the court of appeals. Nasty set back!

  93. BLINDUH…Its lvent…..& If I knew what you meant…I wouldn’t have asked the question & BTW.. I still don’t know what you mean..

  94. @dcb

    ” The shere lunatic ravings are absolutely effective at undermining the credibility of the assertions of the legitimate posters as well as the site author. ”

    I disagree….it doesn’t change what is being stated by the author and others….it just distracts you from the very potent points being made…not going to change my opinions though….i’m here for the long haul.

  95. @Invent

    Did I misunderstand this first sentence?

    “Since the Fed can create unlimited money, why not pay off every mortgage in the land? That’s only $9.7 trillion, and if the Fed wanted to unleash an orgy of spending, that would certainly do it. Trillions in losses would be filled with “free money,” since the Fed would pay the full value of all mortgages”. —- Charles Hugh Smith, Of Two Minds

    I agree. Why not pay off every mortgage in the land?
    That would stop foreclosure in its tracks.

  96. BTW…the FED is the World Bank….they own all of the Banks..

  97. E Tolle….funny you should say that …last year one day I was trying to get on the Cook County Recorder of Deeds website and I got redirected to a porn site…so did many others…Another time, in the evening the site redirected you to Tony Rezko’s title history….! LOL…! Sweet Home Chicago.. !

  98. When i deal with legislative types, judiciary, lawyers–including defense counsel–I am repeatedly amazed by how little credibility nor deference that they as a group give to homeowners in default.

    However, after the limited exposure that I have had to the nutcase here –and one that wanders freely in my local jurisdiction, the fact of it sinks in. The shere lunatic ravings are absolutely effective at undermining the credibility of the assertions of the legitimate posters as well as the site author. Jamie Dimon would be SOOO proud of you IVENT the mad-hatter—-you absolutely prove his case. You are not competent to post notes on the internet much less manage your own or anybody elses finances–much less laintain a house.

    Frankly —it is a marvel to me that you are out on the loose —-Of all things I REALLY feel sorry for the family that must cope with your insane ravings–they cant simply block you like I can. God what a horror it must be to have to come into your physical presence. Let me guess 300 pounds–alone–abandoned by all—bag of cheetos at your right hand. How disgusting.

  99. Now….let me get this right linda….you want the FED to pay back the ORIGINATION FRAUD….? Right…? THOSE ARE THEIR MORTGAGES…BECAUSE…THEY NEVER PAID BACK THE ORIGINAL LOAN THEY BORROWED TO THE TREASURY….THEY POCKETED ALL OF OUR PAYMENTS AS USURY…AND OVERSOLD INVESTORS INVESTMENTS IN OUR PROPERTY THAT THEY NEVER HELD LEGAL TITLE TO….THAT IS UM..???? SECURITIES FRAUD….FORGERY…COUNTERFEITING…ACTS OF RICO…..UTTERRING FORGED INSTRUMENTS TO GAIN ILLEGAL FORECLOSURES …ETC…….THEN WE CALL IT EVEN…CLEAR TITLE TO ALL PROPERTY OWNERS…..OTHERWISE YOUR TALKING A COMPLETE COMMUNIST TAKEOVER BY FASCISM…& THAT IS CRIMINAL…!

  100. CNBC reported more bank lawsuits to come….! More U.S. TAXPAYER money for the politicians & their cronies…THEIR INVESTORS….! Well why else would the FED be extorting the U.S. TAXPAYERS…? They don’t ever pay for anything out of their own pockets…..! U.S. TAXPAYERS SCAMMED AGAIN..!

    CNBC’s Larry Kudlow said…he hopes the short sales ramp up…! WHAT HE REALLY MEANS IS…..HE HOPES WE THE PEOPLE AGREE TO PARTICIPATE IN MORE FED FRAUD & WE AGREE TO HAND MORE OF OUR WEALTH TO THESE COMMIES….!.THE GLOBALIST INVESTORS…..! THAT’S RIGHT KUDLOW…! YOU ARE A LOUSY TRAITOR…!

  101. I agree with Smith. I’ve said this over and over. Just pay off our darn mortgages as restitution for the crimes. Banks can pay off investors, too. For evicted folks, pay them the amount the property was worth at the time of foreclosure.
    Be done with it.

    Otherwise, our courts, title companies, insurance companies, recorder’s offices, ad finitum, are going to be clogged for years.
    Then there’s the wave of borrowers buying the foreclosures! that has to be corrected.
    Talk about job creation!

    Homeowners don’t need the write-downs, that just keeps us under bank control. Why agree to a “fraudification.”

    QE4, anyone???

  102. That’s right, I’m a woman…and repetition is one of the best way to perfect a skill..How do you think this specimen figured out their scam….? Read & re-read, then read some more…study..study..study…research…investigate…ask questions..repeat…over & over again..

    I agree with Neil….audit these TBTF crooks & sheisters…However, that should have been done first….before the ongoing bailouts. Now they made TBTF a law..? Well then maybe Obama should freeze their overseas bank accounts….seize their wealth….issue our own currency & jail these crooks…for life.

  103. Example… Greedy Origionater/Lender borrowed $200,000, and gave you a loan for $100,000. He pockets his half … gambles with the loan. And when the loan is no longer profitable …. they sell it to the Taxpayer. Ponzi Scheme …

  104. YES, NEIL—IT’S THE ACCOUNTING:

    With any debt collection — if the creditor is not identified (original to current) — you do not owe the debt to anyone. . Cannot pay anyone you do not owe. Cannot not emphasize enough — if wrong party is identified– you are never credited for paying — money just goes into a “Rabbit Hole.” And, with subprime refinance — these were just mods of already classified (default) debt — thus, not Notes at — unsecured. In fact, with any charge-off — unsecured debt.

    Reading testimony from former default service processor in NJ — in Re Mortgage Foreclosures (March testimony) — as soon as “loan” goes into default — the servicer outsources to a default servicer. Thus, no servicer can even testify to information — hearsay — and, default servicer testimony is also hearsay — because where did they get info from? Do you really think default servicer advanced any payments??

    NO.

    The most you get from any debt collection is who THEY think is the original creditor — (not necessarily the original creditor) — but, you will get no where near as to identify of the current creditor. Fannie does not operate as a trustee — Fannie may have been an “investor” — but questionable — as to current creditor. Although Fannie/Freddie may currently be having trouble disposing of charge-off collection rights — due to volume and market crisis — F/F easily did so in past…

    The subprime “loans” were GSE charge-offs from the onset. And, therefore, never valid NOTES, never valid Mortgages, and never valid refinances.

  105. CSNBC … Wall Street Abandons Obama! Ut Oh…. sounds like the final chapter has been written and WS dont like it.

  106. ToLLe,

    I keep telling you: it is getting better and better. Slow process but we’re making progress.

    http://worldtruth.tv/poland-announces-complete-ban-on-monsantos-genetically-modified-maize/

    Poland Announces Complete Ban on Monsanto’s Genetically Modified Maize (Corn)

    Following the anti-Monsanto activism launched by nations like France and Hungary, Poland has announced that it will launch a complete ban on growing Monsanto’s genetically modified strain MON810. The announcement, made by Agriculture Minister Marek Sawicki, sets yet another international standard against Monsanto’s genetically modified creations. In addition to being linked to a plethora health ailments, Sawicki says that the pollen originating from this GM strain may actually be devastating the already dwindling bee population.

    “The decree is in the works. It introduces a complete ban on the MON810 strain of maize in Poland,” Sawicki stated to the press.

  107. A note to all….I entered Jeff Barnes website today and was instantly relocated to a non-loading porn site and then attacked by a virus. My anti-virus caught it, but that was close, and not accidental.

    The battle lines are drawn and reinforcements are needed. Keep up the pressue in ever way possible. They must perish. It’s them or us. And when you lose – APPEAL. DO NOT GIVE UP.

  108. The GMAC Bankruptcy- What Happens to 2.4 Million loans totaling $374 Billion? (And What When They Are Owned by Fannie/Freddie?

    October 9th, 2012 | Author: Matthew D. Weidner, Esq.

    A most interesting document because it demonstrates to us all the important distinction THAT BANKS LARGELY DO NOT OWN THE LOANS THEY ARE FORECLOSING ON! While we have made the banks the bad guys in all this, the reality is they are merely debt collection agents acting on behalf of agents of the federal government. Consider this in the context of GMAC:

    The Debtors service more than 2.4 million mortgage loans with an aggregate unpaid principal balance (“UPB”) of approximately $374 billion.3 Of these totals, the Debtors assert that they service approximately 370,000 mortgage loans with an aggregate UPB of approximately $59.8 billion for Freddie Mac.

    The transfer of the Freddie Mac loan portfolio by the Debtors to a new servicer must be approved by Freddie Mac on terms acceptable to Freddie Mac and its conservator. Due to the size of the loan portfolio at issue, it is imperative that any replacement servicer have the operational expertise and capability (as well as the financial wherewithal) to service the loans in accordance with the requirements of Freddie Mac’s Single-Family Seller/Servicer Guide (the “Freddie Mac Guide”) and the related Purchase Documents (as that term is defined in the Freddie Mac Guide). Whether a proposed purchaser is sufficiently qualified to service Freddie Mac’s loan portfolio is a determination made by Freddie Mac only after exacting due diligence and consultation with its conservator. Recognizing the importance of Freddie Mac’s right to approve servicers of loans that it owns, the Freddie Mac Guide only permits a servicing transfer with Freddie Mac’s express consent. Indeed, Freddie Mac’s approval rights are acknowledged in the Nationstar Asset Purchase Agreement’s requirement that closing of the proposed sale is predicated on obtaining various consents from Freddie Mac.

    As a threshold matter, the Debtors impermissibly seek to bifurcate a unitary, integrated contract that governs both origination and servicing of Freddie Mac loans and assign to Nationstar only those portions of the contract that the Debtors and Nationstar determine constitute the “Servicing Agreement” (as defined in the Nationstar APA). In addition to improperly severing the origination obligations from the servicing obligations, the Debtors compound the legal deficiencies in their Sale Motion by attempting to prune the servicing obligations to be assigned to Nationstar, expressly absolving Nationstar of certain servicing obligations in direct contravention of the applicable contract terms. Because the proposed assignment violates HERA as well as fundamental bankruptcy law precluding the division of integrated contracts, it fails to provide Freddie Mac with adequate assurance of future performance and cannot be approved as a matter of law.

    Notwithstanding the lack of clarity regarding which Freddie Mac contracts are at issue, it appears that the Debtors are attempting to rewrite, and assign as rewritten, the Master Agreement (the “Master Agreement”), dated as of July 22, 2011, between GMAC, Freddie Mac, and Ally Bank. The Debtors do not even address the statutory requirements for the disposition of conservatorship estate assets under 12 U.S.C. § 4617. In particular, the Debtors seek to sever the Master Agreement’s origination-related obligations and assign to Nationstar some, but not all,8 of the Master Agreement’s servicing-related provisions.

    In American Home, the Bankruptcy Court noted that although contracts must generally be assumed or rejected in their entirety, the parties had “stipulated that the Master [Servicing and Selling] Agreement is nonexecutory . . . . In other words, the parties agree that [Debtor] has no material, unperformed obligations under the Master Agreement the non-performance of which would constitute a material breach excusing [counterparty’s] further performance.” Id. at 93. There is no such stipulation here, and the Debtors do not dispute that the Master Agreement is executory. In addition, the Bankruptcy Court in American Home determined that, under New York law, “as with all contract interpretation, severability is a question of the parties’ intent, to be determined from the language employed by the parties, viewed in light of the circumstances surrounding them at the time they contracted.” Id. at 94 (emphasis added and quotation and citation omitted). The American Home Court then adopted a three-part test of severability under Florida law from the Eleventh Circuit in the case of Byrd v. Gardinier (In re Gardinier, Inc.), 831 F.2d 974 (11th Cir.1987):

    The American Home court concluded that the parties’ agreement contained different functions and that the consideration for those functions was separate and distinct. Id. at 95-96. The American Home court spent significant time analyzing the third part of the Gardinier test, whether the obligations were interrelated. Id. at 96-104.

    In sharp contrast to American Home, the parties here have specifically and expressly agreed that the Master Agreement is itself indivisible and is also part of a larger integrated contract. Servicers that service mortgages owned by Freddie Mac must comply with the Purchase Documents, as defined in the Freddie Mac Guide to include the Master Agreement, the Freddie Mac Guide, Guide Bulletins, Guide Amendments, Guide Plus Additional Provisions, and any additional agreements the servicer enters into with Freddie Mac, including specific Terms of Business applicable to the business relationship between that party and Freddie Mac. The integrated nature of these documents is further evidenced by the Master Agreement’s express incorporation of the Freddie Mac Guide. See Master Agreement at 1 (“The Master Agreement incorporates the provisions of the Freddie Mac Single-Family Seller/Servicer Guide (the ‘Guide’), and supplements the Guide.”). The Freddie Mac Guide expressly provides that it “governs the business relationship between a Seller and Freddie Mac relating to the sale and Servicing of Mortgages.”10 Additionally, a seller must service all loans that it has sold to Freddie Mac and/or has agreed to service for Freddie Mac in accordance with the standards set forth in the seller’s Purchase Documents.

    These provisions evidence the parties’ intent that the servicing and origination obligations not be severed. They prohibit a transfer of servicing obligations without assumption of servicing and origination-related representations, covenants and warranties. Thus, unlike the agreements at issue in American Home, in this case the Master Agreement, the Freddie Mac Guide, and the Purchase Documents constitute a fully integrated, indivisible agreement. The Debtors can only assume and assign those agreements in their entirety, or not at all.

    gmacfreddie

  109. Psychotic? No I didnt and Never. Perhaps played in circle time a few to many years … chattering and singing all day. I thought you disapproved of the Game “Sticks and Stones”. Didnt you lose? Are you coming back for more? Silly Kids … should have listened and learned their lessons the first time.

  110. ToLLe,

    And Shadow is a women too. Psychotic, per her own admission. Some other specimen that makes me so proud of my gender too…

  111. @JG,

    Nasty blow. I’m so sorry!

    http://www.msfraud.org/law/lounge/Metlife-v-Hansen_note-split-OK_10-12.pdf

    MERS secures favorable appellate judgment in split-the-note case
    The homeowners argued that the note and the mortgage were split, making it impossible for MetLife to have the power to foreclose. But the panel of Kansas Court of Appeals judges disagreed, finding that MERS had an agency relationship with all of the lender’s successors, essentially making the splitting of the note and mortgage a non-issue.
    The court wrote: “A mortgage may become unenforceable when it is not held by the same entity that holds the promissory note. However, an exception exists where there is an agency relationship between the holder of the mortgage and the holder of the promissory note.”
    ——————————————————————————–

  112. @Enraged! I Agree! The Libor set the defaults to the ARMs. .. That was the Stage Set to cover Up for all the Inflated Appraisals.

  113. @E-Tolle …. Those who Graduated Kindergarden get it! Dirty Snowballs may not Freeze in your State …. But they do in Mine! I all but gave the answer …… who was I talking to? Anyhows … I dont want to grow up … I would rather chatter to myself (or not) vs Beating myself in the Head all day. P.S…. “Sticks and Stones” .. Do you wanna play to?

  114. No kidding!

    http://www.telegraph.co.uk/finance/libor-scandal/9595611/Libor-rigging-bankers-should-be-jailed-survey-finds.html

    Libor-rigging bankers should be jailed, survey finds

    Almost 90pc of people in the UK believe bankers who commit fraud or manipulate markets such as Libor should be jailed, according to a survey.

    The poll comes as MEPs in Brussels are to vote today on legislation that will set criminal penalties, including minimum prison terms, for the most serious cases of financial crime.

    The survey by YouGov/Avaaz also found that the UK public believes bankers should be held responsible for their actions, rather than the lenders they work for. In the UK, 70pc think that bankers found guilty of market abuse should be sent to prison rather than their employers being hit with fines.

    “The financial sector cannot be trusted to self regulate, [Oh! Come on now!]” said Arlene McCarthy MEP, vice-chair of the Economic & Monetary Affairs Committee. “Fines have proved ineffective and have not changed the culture in the banking industry. [Duh! Gotta go after the individuals, you dummy! Banks don’t commit fraud. People commit fraud. You. Dummy!]]

    “We are therefore extending the law to, for the first time, impose tough EU wide criminal sanctions and jail time. It will cover all benchmarks and indices as the Libor manipulation shows that abuse is still rife in the banking sector.”

    In the aftermath of the financial crisis, the Government has attempted to rein in the big banks that were blamed for the credit crunch in 2008 and subsequent global recession.

  115. @ToLLe,

    Ivent is a woman. Some specimen too! Makes me really proud…

  116. @ e. tolle

    bravo

  117. The link is actually:

    http://www.oftwominds.com/blogoct12/Fed-money-laundering10-12.html

    I wanted to get this posted before ivent starts a new diatribe on the fed, because we’re all too stupid to understand him, and thus need to hear him repeat it over and over again, and before his idiot shadow starts talking to herself again.

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