Fear of Unraveling the Truth: Is the Fed Running Interference for the Banks


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Editor’s Comment and Analysis: AIG correctly decided not to try to bite the hand that saved it when it refused the demand of Hank Greenberg to join in his lawsuit against the government. Greenberg, some will recall, was forced out of AIG in a scandal in 2005.

Now AIG is attempting to open the door to suing banks besides the suit it already filed against Bank of America for selling them worthless trash instead of high rated bonds that were safe and verified. But the Fed created Maiden Lane II stands in the way even though it has already wound down its affairs.

The argument is that AIG transferred its litigation right to Maiden Lane. So the question is whether that was standard procedure and did the maiden Lane entities get such a transfer of litigation rights on ALL the debts that were  “contributed” to the Maiden Lane entities. While this particular suit has more to do with life insurance than mortgages, it has far reaching implications.

The questions raised by all these “transfers” is who transferred what to whom, when and what did the Maiden Lane entities actually get in terms of legal title to something. If they did get legal title to either the bogus mortgage bonds or the loans themselves, then why are there foreclosures in the name of other entities?

And if these entities were given the opportunity to dump the bad bonds or loans onto the Fed and be bailed out 100 cents on the dollar, then why is there any balance in any loan receivable account relating to the origination of ANY loan involved in the Fed transfers?

The can of worms covered over by the Maiden Lane transactions is deep and ugly. Similar transactions occurred all over Wall Street as some parties received 100 cents while others were left out in the cold — especially investors who put up the money to originate the financial transactions in the first place.

As a practice hint, I would say that you should inquire as to whether the subject loan is claimed to be part of an alleged investment pool that issued mortgage-backed bonds and which delivered ownership in indivisible shares in the underlying mortgages.

If yes, then you should inquire as to whether any or all of the bonds were the subject of a transfer to any of the Maiden Lane entities or some other party. This would jive with what I am told is the fact that more than 50% of the REMIC trusts have long since ceased existence in any way, manner, shape or form.

Then you should inquire as to whether the subject loan was included in said transfer and if so, the how? Assignment, indorsement, etc. And you should inquire about the amount of money received for the transfer, how and when it was paid and production of copies of said payment.

The point here is that the parties who are initiating the foreclosures are (a) complete strangers to the transaction having neither funded nor purchased the receivable or loan and (b) that even if they were at some point owners of the loan, they transferred it out for payment which mitigates the loss and the balance due on the loan receivable account. If Maiden Lane II is winding down as reported, where did the loans go from there? The answer from inside Wall Street was they were “re-securitized” into new trusts, all private label away from the sight of investors, borrowers and regulators.

In the end, the result I am after here is that the loan was paid down in whole or in part and the complexity of the way the banks were bailed out is not a license to receive yet another windfall. The parties who paid have a right of contribution and perhaps a right to foreclose the mortgages.

But without the identity of the current real creditor, compliance with HAMP and other programs is impossible because you need the injured party at the table.

A party who once held the receivable but was paid should not be receiving a second payment or a free house through foreclosure just because they have presented part of the deal. Discovery should include ALL of the deal, which is why the Master Servicer should be the target of your investigations including the parent investment banking firm.

Goldman and other banks are reporting record profits resulting not from lending but from trading activity, which is the way I have said from the beginning that they would repatriate the money they stole is increments so that the value of their stock would appear to be worth more and more.

But think about it. What other managed fund is getting such bountiful results? Answer: NONE. That indicates to me that the proprietary trading is a ruse in which the banks are claiming profits derived from trading with funds obtained illegally and parked off shore. By controlling the transactions end to end, they can simply set the amount of profits they want to report and continue on for a long time considering estimates of anywhere from $3-$10 trillion that has been siphoned out of the world economy and for which there has been no accounting or accountability.

These are funds that SHOULD be credited to investors and the loan receivable accounts of borrowers.

A.I.G. Seeks Approval to File More Bank Suits


Since the summer of 2011, the insurance giant American International Group has been battling Bank of America over claims that the bank packaged and sold it defective mortgages that dealt A.I.G. billions of dollars in losses.

Now A.I.G. wants to be able to sue other banks that sold it mortgage-backed securities that plunged in value during the financial crisis. It has not said which banks, but possibilities include Deutsche Bank, Goldman Sachs and JPMorgan Chase.

But to sue, A.I.G. first must win a court fight with an entity controlled by the Federal Reserve Bank of New York, which the insurer says is blocking its efforts to pursue the banks that caused it financial harm.

The dispute illustrates the web of financial instruments that A.I.G. and the federal government became tangled in as the insurer nearly collapsed in 2008 and required a vast taxpayer bailout. It also shows the complexity of apportioning blame, five years after the financial crisis, and making wrongdoers pay for their share of the harm.

According to a lawsuit filed Friday, A.I.G. is seeking a declaration from a New York state judge that it has the right to pursue “billions of dollars of fraud and other tort claims that exist against numerous financial institutions,” even though Fed officials have said A.I.G. gave up that right.

“If I were the general counsel of A.I.G., I would seek this kind of declaratory judgment,” said Henry T. C. Hu, a former regulator who is now a professor at the University of Texas School of Law. “I don’t know whether I’d win, but it’s certainly worth trying.”

Much of A.I.G.’s rescue was needed because it didn’t have money in 2008 to cover guarantees that it sold banks in case the complex securities in their portfolios defaulted. But the latest dispute centers on a less familiar part of the bailout — the part in which reserves were removed from A.I.G.’s life insurance units and replaced with what turned out to be troubled mortgage securities.

The securitized housing loans lost value so fast when the bubble burst that some of A.I.G.’s life insurers risked being shut down by state insurance regulators. The Fed stepped in instead, and A.I.G.’s current lawsuit centers on the relationship that formed between the insurer and its rescuer as a result.

The Fed paid about $44 billion to extricate A.I.G.’s life insurance units from soured trades, and set up a special entity, Maiden Lane II, to buy the plunging mortgage securities for $20.8 billion. Those securities had an original face value of $39.3 billion.

Maiden Lane II is the sole defendant in A.I.G.’s lawsuit. The complaint says that at the moment Maiden Lane II bought the securities, it locked the insurance units into an $18 billion loss — the difference between the securities’ face value and their price in late 2008, arguably the bottom of the market. A.I.G. attributes a large chunk of its losses to the mortgage securities that it bought from Bank of America. It sued the bank for $10 billion in August 2011.

But one of Bank of America’s defenses is that A.I.G. lacks standing, having given its litigation rights to Maiden Lane II.

Last month, for instance, two senior Fed officials submitted declarations saying they believed that as part of the sale of assets to Maiden Lane II, A.I.G. had agreed not to go after any of the banks.

That prompted A.I.G. to file its suit, arguing that when it sold the tainted assets to Maiden Lane II, it did yield some litigation rights, but not the ones giving it the right to bring fraud complaints against the banks that put the securities together.

A.I.G. said those banks had misled its life insurance and money management businesses regarding the quality of the securities, and “obtained artificially high credit ratings” so the securities would pass the life insurers’ investment rules.

A.I.G.’s lawsuit is separate from one that until late last week it considered joining, which argued that the New York Fed acted unconstitutionally during the bailout, harming the insurer’s shareholders.

That lawsuit was filed in 2011 by Maurice R. Greenberg, a former chief executive of A.I.G. and a major shareholder. Mr. Greenberg had hoped the company would join the lawsuit, but the possibility that A.I.G. would sue its rescuer drew sharp criticism and A.I.G.’s board decided against it.

The new suit isn’t seeking financial compensation from the Fed.

The New York Fed, which has sole control of Maiden Lane II, declined to discuss the matter and has not yet responded to the complaint. A hearing on the arguments in the Bank of America case is scheduled for Jan. 29 in U.S. District Court for the Central District of California.

A.I.G. did not name other banks it would take action against, but it bought mortgage-backed securities from banks that included Deutsche Bank, Goldman Sachs and Bear Stearns, which was acquired during the financial crisis by JPMorgan. Much of the securities were sold to A.I.G. by Lehman Brothers, which collapsed in September 2008.

A.I.G. watchers are intrigued by the newest chapter of the story.

“A.I.G. has a credible claim that they’re pursuing aggressively,” said Michael J. Aguirre, a San Diego lawyer who is representing a California couple who argue the Fed was bilked when it bailed out A.I.G. “The question now is how aggressive the Fed is going to be on pushing back.”

“Is the government going to say, ‘We’re not pursuing these claims, but we’re not going to let anybody else pursue them either — we’re just going to let the banks walk away with fraud profits?’ ” he added.

Although it received relatively little scrutiny, the life insurance part of A.I.G.’s bailout was costlier than the better-known part involving A.I.G.’s Financial Products unit, which sold the notorious guarantees, known as credit-default swaps.

In 2011, A.I.G. tried to buy back the entire pool of mortgage securities from Maiden Lane II, but its offer, about $15 billion, was rejected.

Subsequently other bidders acquired all the assets, and last February the New York Fed announced it had made a $2.8 billion profit on its roughly $20 billion investment in the rescue entity. Terms of the bailout called for it to give one-sixth of any profit to A.I.G.

Maiden Lane II no longer holds any of the mortgage securities and is winding down its affairs.

83 Responses

  1. @Patrick, Great post, illegal foreclosure or securities fraud? Opp. counsel told me all the Notes were shredded and then produced a blue ink note signed with an autopen.

  2. can two competing loan documents exist at the same time? Can there be more than one document, whether electronic or paper, which confers payment rights to a loan obligation?

    Relevant excerpts from Florida Bankers Association comment letter to Florida Supreme Court task force on residential foreclosure dated Oct 2009.

    Page 3

    A. Plaintiff’s Status as Owner and Holder of the Note.

    “In actual practice, confusion over who owns and holds the note stems less from the fact that the note may have been transferred multiple times than it does from the form in which the note is transferred. It is a reality of commerce that virtually all paper documents related to a note and mortgage are converted to electronic files almost immediately after the loan is closed. Individual loans, as electronic data, are compiled into portfolios which are transferred to the secondary market, frequently as mortgage-backed securities. The records of ownership and payment are maintained by a servicing agent in an electronic database.”

    Here’s more

    From page 4

    “The reason “many firms file lost note counts as a standard alternative pleading in the complaint” is because the physical document was deliberately eliminated to avoid confusion immediately upon its conversion to an electronic file. See State Street Bank and Trust Company v. Lord, 851 So. 2d 790 (Fla.4th DCA 2003). Electronic storage is almost universally acknowledged as safer, more efficient and less expensive than maintaining the originals in hardcopy, which bears the concomitant costs of physical indexing, archiving and maintaining security. It is a standard in the industry and becoming the benchmark of modern efficiency across the spectrum of commerce, including the court system.

    The information reviewed to verify the plaintiff’s authority to commence the mortgage foreclosure action will be drawn from the same database that includes the electronic document and the record of the event of default. The verification, made “to the best of[the signing record custodian’s] knowledge and belief” will not resolve the need to establish the lost document.”

    Did you catch that? There is an electronic document or file which is a digitized version of the paper based note. This electronic document is claimed to be the equivalent of the paper based instrument with characteristics of negotiability. However, it is not the original paper based instrument which borrowers sign. This electronic equivalent document is the means and method by which payment rights are transferred into the secondary market.

    Lets tie this comment letter together with UTEA which was drafted to make electronic media on par with traditional paper and recreate the benefits of the UCC with regard to electronic promissory notes.

    Uniform Electronic Transfers Act 1999

    Relevant excerpts from Comment 1, 2, 3 to section 16 of UTEA

    Paper negotiable instruments and documents are unique in the fact that a tangible token – a piece of paper – actually embodies intangible rights and obligations. The extreme difficulty of creating a unique electronic token which embodies the singular attributes of a paper negotiable document or instrument dictates that the rules relating to negotiable documents and instruments not be simply amended to allow the use of an electronic record for the requisite paper writing. However, the desirability of establishing rules by which business parties might be able to acquire some of the benefits of negotiability in an electronic environment is recognized by the inclusion of this section on Transferable Records. This section provides legal support for the creation, transferability and enforceability of electronic note and document equivalents, as against the issuer/obligor. The certainty created by the section provides the requisite incentive for industry to develop the systems and processes, which involve significant expenditures of time and resources, to enable the use of such electronic documents.

    Section 16 provides for the creation of an electronic record which may be controlled by the holder, who in turn may obtain the benefits of holder in due course and good faith purchaser status. If the benefits and efficiencies of electronic media are to be realized in this industry it is essential to establish a means by which transactions involving paper promissory notes may be accomplished completely electronically. Particularly as other aspects of such transactions are accomplished electronically, the drag on the transaction of requiring a paper note becomes evident. In addition to alleviating the logistical problems of generating, storing and retrieving paper, the mailing and transmission costs associated with such transactions will also be reduced.

    The definition of transferable record is limited in two significant ways. First, only the equivalent of paper promissory notes and paper documents of title can be created as transferable records. Notes and Documents of Title do not impact the broad systems that relate to the broader payments mechanisms related, for example, to checks. Impacting the check collection system by allowing for“ electronic checks” has ramifications well beyond the ability of this Act to address. Accordingly, this Act excludes from its scope transactions governed by UCC Articles 3 and 4. The limitation to promissory note equivalents in Section 16 is quite important in that regard because of the ability to deal with many enforcement issues by contract without affecting such systemic concerns. Second, not only is Section 16 limited to electronic records which would qualify as negotiable promissory notes or documents if they were in writing, but the issuer of the electronic record must expressly agree that the electronic record is to be considered a transferable record.

    However, conversion of a paper note issued as such would not be possible because the issuer would not be the issuer, in such a case, of an electronic record. The purpose of such a restriction is to assure that transferable records can only be created at the time of issuance by the obligor. The possibility that a paper note might be converted to an electronic record and then intentionally destroyed, and the effect of such action, was not intended to be covered by Section 16.

    Further, it is important to understand that a transferable record under Section 16, while having no counterpart under Article 3 of the Uniform Commercial Code, would be an “account,” “general intangible,” or “payment intangible” under Article 9 of the Uniform Commercial Code.

    Ok so a) conversion of a paper based note issued would not be possible. b) that a paper note might be converted to an electronic record and then intentionally destroyed, and the effect of such action, was not intended to be covered by Section 16. But, Florida Bankers Association is telling us that indeed they converted paper based notes and then intentionally destroyed these paper notes to avoid confusion with the electronic equivalents. Hmmm…

    c) An electronic transferrable record has no counterpart under article 3 and the resultant electronic document is classified as an “account” “general intangible” or “payment intangible” under article 9.

    So the Florida Bankers Association is telling us that they never transferred the paper based notes into the secondary market but that they intentionally sold an electronic equivalent document. UTEA is telling us that a transferable electronic equivalent document is classified as a payment intangible or account.

    Bottom line. Your paper note was financed or factored. There is no longer a debt amount evidenced by the paper based note. There is no legal basis for a negotiable electronic document to exist under the UCC. Your lender merely sold its anticipated receivables in an electronic format for valuable consideration and has fully realized the value of the paper based note. Rights to the borrower’s payments were transferred without negotiating the paper based note.

    For a pretender to show up in court and invoke ucc3 as if an electronic equivalent record wasn’t sold into the secondary marketplace is to double dip on the paper based note. Rights to the loan proceeds took a parallel track in an electronic regime separate and apart from the traditional paper regime under ucc3. The pretender is attempting to use the courts to rejoin the debt with the paper. If the intent was to never use the paper to confer payment rights into the secondary market, why bother going to the trouble of funding the paper in the first place? Hmmmm…

    It gets better. If you do close a loan deal using an electronic platform and e-signature, Fannie Mae wants you to agree it has the right to convert that e-note you signed into a paper based note and then agree that it is negotiable. Check out its 2007 guidelines for electronic promissory notes. You can’t make this stuff up.

    For a transferrable electronic promissory note to exist, the borrower must agree that it is an electronic record and close the deal using an electronic platform. It is forever an electronic record. Said e-note is non-negotiable under ucc3 and so its classified as a payment intangible or account under ucc9. So Fannie wants to convert a ucc9 electronic record into ucc3 commercial paper. Thats rich. UETA §13 specifies that electronic records are not to be denied admissibility into evidence solely because the records are in electronic format so what purpose does it serve to convert an e-note into paper unless your trying to invoke a courts jurisdiction.

    Based upon the Florida Bankers comment letter, I’ll submit that there in not one single injured party with a valid claim for relief under the security instrument simply because two competing records or documents can’t exist to evidence the same loan obligation. Whatever the operative record used to transfer payment rights into the secondary market, its equivalent counterpart cannot exist or be resurrected. So somebody is getting screwed. Either the tangible paper is the operative record of legal effect in which case the investers were defrauded or the intangible electronic document is operative record of legal effect in which case the paper based note ceases to be an asset on the books and the debt is unsecured.

    Do you choose illegal foreclosure or securities fraud?

  3. ……and the media mongrels..

  4. Those investors are the politicians themselves who are now admonishing the athletes they all get rich off of. The politicians are all lying, deceiving, scumbag crooks.

  5. That’s right on poppy, the athletes are just about all doping because it gives a competitive edge to the FED shareholders, directors and investors who are gambling on them on Wall Street. No one is superhuman without chemical enhancements ….. no one.

  6. Well, why don’t we run the race again…let them all dope, as they already do and Lance will win again. Why? Because it requires vigilance, effort, heart and lots of training. Every single sport has doping, PERIOD! So, F*****g what.

  7. CFR member Erin Burnett on CNN ripping Lance Armstrong to shreds for doping. It takes one to know one so the saying goes. Don’t these media morons have anything more constructive to do than waste the publics time with this nonsense ….? The truth is…. it is all about the distractions. They don’t report on the real suffering in this country. They are hiding it for a reason. They are planning a sneak attack….the day they tell the BIG LIE…. America is Broke and hope the people believe them and accept their fraudulent fixes for a gazillion dollars in robbery and criminal defrauding of our wealth. Not likely they will, they have stolen way too much from way too many Americans.

  8. You are correct stripes…Enraged/christine has been thrown off here before for insulting and instigating drama, from people who do not need anymore. She is relentless in her pursuit of hurting others. My issue; she doesn’t scare me one bit. She has no idea…

  9. We should not be fighting against each other… united we stand.

  10. This is a monolithic conspiracy Louise and religion was used as a ruse and a con and has played a big role in this whether you want to believe that or not. The Unholy Roman Empire, the Synagogue of Satan, is ruling the world from behind the scenes, and hiding behind many proxies ….Take Goldman Sachs for example…..Who is Goldmans Sachs…? Goldman Sachs is one of the largest SMOM/VATICAN/JESUIT banking proxies in the world. I am not knocking the Catholic religion, I am Catholic. However, the ruling class is at the hierarchy of everything and hidden at all levels of society as well. The Synagogue of Satan is real and their evil Talmud has infiltrated everything.

  11. Christine Konar, NC…newenglandblonde@yahoo.com anytime, anywhere. I love a challenge…please don’t disappoint me.

  12. “So be it, christine…we can go to the mat, if you dare.”
    Identify yourself. I’ll be happy to oblige. Judo. 2 medals.

    What a bunch of phonies.

  13. We have enough fights to endure. Bantering and exchanging personal attacks with inept persons is no challenge. Nor is using unnecessary energy responding to classless dim wits! You of all people, if your fight is that contemptuous, should understand, we do not need anymore drama.

  14. Poppy,

    “… and enraged…can you check this?”

    Check what? Oh ladies, you hate people to be happily fighting. Winning, losing, winning, losing and remaining happy all throughout.

    That really kills you, doesn’t it?

  15. Neil,

    Enraged is back and enraged…can you check this?

  16. So be it, christine…we can go to the mat, if you dare. I’ll be more than happy to take the challenge.

    As for my employment, other’s work for me, not that, that is any of your business. Your “ugly” soul is present to all. And I seriously doubt, with your personality and frail emotional state, you could lead anyone to do anything, except gossip behind your back. Shame, shame…

  17. @usedcarguy: I think you know my E-mail address. Can you send info on Bloomberg termina?

  18. Poppy,

    I’ll keep my well-sustaining philosophy quiet when you take your damned, non-sustaining religion and conspiracy theories out of it. You, visibly non-employed women with too much time on your hands, can’t stand the idea that someone could be in the midst of legal battles against banks and JDB and still have fun and be happy.

    Perspective is the name of the game. Misery loves miserable company. Birds of a feather… etc. etc. Free will. Use yours. I use mine.

  19. The truth is, millions of Americans and families are harmed and die from substance abuse, prescription meds, traffic accidents, lack of proper medical care, doctor and hospital neglect, and poverty in this country each year than by guns. The numbers of Americans killed or injured by guns is minute in comparison to those numbers. These crooks always hide the big picture, and only give us bits of it. That is why Americans fall for lies, because they are never shown the big picture and they never bother to do their own research. Too many Americans take everything at face value. They look at one big horror and not the millions of smaller horrors that are hidden just below the surface. Like the millions of elderly who on small fixed incomes and can’t afford to pay for all of this fraud and are losing their homes or are about to due to all of the so called “missing money” which is in reality STOLEN MONEY being covered up by inflation/deflation, hyper taxation and property tax fraud.

  20. There is real suffering in this country because of what these crooks have done and Obama and the politicians, their minions and cohorts have made it worse, not better in any way, shape or form.

    I see the suffering every day, in real time. While millions of Americans are dumbed down and distracted and are being subdued and are therefore, living in a manufactured reality, there is real suffering in this country.

    People are suffering horribly and dying in America because of what these crooks have done, and the media never tells the real story or why this is happening. It is a disgrace for the media to call themselves “the news.” They are telling people what these crooks want them to tell the people and I for one, refuse to tow the totalitarian dictatorship party line.

  21. I agree poppy…no one has the right to tell anyone how to feel and what to say. These crooks have traumatized millions of people and I will not shut up about it.

  22. The truth is, I am in the trenches and fully aware of what is going on in this country. I don’t agree with it and I am speaking out against it. I feel it is my patriotic duty as a Natural Born U.S. citizen to not shrink from controversy. That is the way a Constitutional Republic is supposed to be. Complying, conforming and cooperating with everything you are told is for dictatorships, not for free republics.

  23. No Christine, people may believe they create their own realities, but that is simply not true. Tyrants and dictators distract people from reality from behind the scenes, and program them to believe their lies to try and control them, mentally, spiritually, physically and emotionally. The really intelligent people get paid more to keep the distractions going for them. That is why they want everyone working for them, so none of the intelligent people slip through the cracks and ruin their evil plans for world domination. Well they might have fooled some, but not everyone.

  24. @ christine

    I find your comments insulting and unnecessary. I would appreciate you keep some of these philosophy’s silent.

    As intelligent as you may be, smart encompasses an awareness of “intangible” skills that make one insightful of the wisdom and experience of their acquaintances, surroundings and the probabilities of “fallibility”. Respect is a reciprocal endorsement of one’s own flaws and strengths. If one cannot give that, in turn, one will not receive it.

  25. Goes both ways, Poppy. And I’m not “explaining” anything. No time to waste on that. Gone to work on my yard.

  26. Blah blah blah blah blah blah.

    Now that the Robot’s spent the last six months repeating over and over the same crap without offering one iota of solution, without lifting one finger or engaging into any kind of action, everything has been fixed, Robot is fully functioning and the world is a better place. Not! If anything, its dementia is getting worse by the day and many who can’t stand its constant (and very poor) attempts at brainwashing everyone into its own dementia no longer come here. Morality: when humans spend their life sitting on their butt watching TV and posting crap, blood doesn’t reach their brain and they rot from the head down, just like fish. Smelly end…

    Gorgeous day. I’m gona work in the yard. And create my bright future.

  27. If everyone is comfortable with their reality, why keep explaining it? Why attack someone else’s? No one has the “right” to tell someone else how to feel or deal with this unconscionable activity.

    If you do a small bit of history referencing, this behavior we have from our government, public servants, is scary similar to that of Dictators, Tyrants and Czars. Just saying…

    Does anyone here, really understand how many laws we have for honest-law abiding citizens? And why?

  28. Fear is the boogeyman, lurking in the shadows, hiding the truth so you live in fear of something even though you do not know what that something is. When you know who your enemy is, their game plan and their ultimate goal, that is what the enemy fears.

  29. In reality, even the word “conspiracy” has been redefined to mean crazy, nuts or insane. THE TRUTH IS….In criminal law, a conspiracy is an agreement by two or more people to commit a crime in the future.

    The real crime here is the intent to deceive. The intent to deceive is criminal in the U.S. There is undeniable proof of intent to deceive in every aspect of this monolithic conspiracy. The proof is always just beneath the surface, we are never very far from the truth, the criminals just send you deeper into their rabbit hole to disguise what is reality. What is at the top is the real crime scene but, they are hiding it by sending everyone looking down at the bottom.

    Take HARP and fraudclosures as an example of their scam. The real crooks are posing as the servicers who are in reality, THE FED/WORLD BANKSTERS in disguise. Why they won’t tell us that is because, in reality, the FED are just third party debt collectors, fictitious payees, strawmen, never a party to the Original transaction because the Original Transaction NEVER OCCURRED…..It was all fraud and fiction by skilled con men. The FEDSTERS are IMPOSTERS; fictitious payees; that is what they are really trying to hide.

  30. “Fear is not knowing the truth.” ???????????

    Were the hell does Robot come up with such nonsense! Definition right from the dictionary: fear is an emotional response to “perceived” danger. No perceived danger here. Hence no fear. No fear of banks taking anything from me that never belonged to me or them in the first place (in case people forgot it, we were born naked and owning nothing. We’ll die the same way. In the meantime, whatever we have is only put to our disposal for us to use and enjoy. Take it away! There’s plenty more where that came from!), of Obamacare implanting a chip anywhere in me, of WWIII and nuclear threats, of someone taking away my gun that I never use anyway, of death or of anything else.

    People create their own reality. Mine is pretty damn happy and comfortable.

  31. No conspiracy theories here…hard reality. Unless you are in a coma, you can see this stuff without glasses.

    As for we; all of us on the blog have access to the “business” sections of most newspapers. Herein, were are all so focused on saving our lives, we are not “SO” worried about stock prices of the banks. Far as I can tell, the majority would love to see them bankrupt and the top players put in jail with Bubba and his gang.

    So yes, “we” are all fed up with these “methodical scum suckers”, in medical terms; sociopaths, who should have been treated years ago for the disease they have spread throughout the country.

  32. Fear is not knowing the truth.

  33. The rest of Dimon’s bonus was $10 million, paid out in restricted stock. Restricted Stock……Restricted Stock is also known as letter stock, or restricted securities refers to the stock of a company that is not fully tranferrable until all conditions have been met.

    All they do is lie to the people, and manipulate the people. They want the people to believe they are punishing their perps for their crimes. These are merely social justice fixes for mass criminality. I am FED UP with the lies and the spin. The shareholders and directors of these banks have the money printing machine. They commit massive crimes off our backs and in our names and hand us their unsustainable debts they create in our names, from our own thefts after they destroy the value of EVERYTHING….. I am sick of hearing the investors are going to suffer for the crimes of their perps because they have THE MONEY PRINTING MACHINE…..They PRINT MONEY WHENEVER THEY WANT IT….AND HAND US THE BILL.

    Louise….the local media in Chicago reported the Russian mafia is all over the East Coast buying up our property along with the Red Chinese..The local media also said the Russian Mafia are nothing like the Italian mob….they are ruthless, well trained and there is no honor code with them. They are cold and calculated and they will kill anyone with no regard for family or honor. No one should ever give up their guns because these dangers are not well known, and hidden from most Americans. You never know who these thieves and thugs may be. Just like we don’t know who invested in these defaulted, worthless junk bond mortgages. An attorney found 607 investors in his clients one mortgage. As the recorder of deeds office told me, when these mortgages got dumped into public, public could be anybody. Wall Street put the whole nation in danger and let me just say, the Title Company dumped my junk bond mortgage into public….nice huh…? The U.S. TAXPAYERS money was stolen and the traitors from within allowed that.

    “They will tell you everything they are doing is for your own peace and security, but there will be no peace and security.” – warned an Insider from within the Vatican.

  34. watching the president on tv tonight its greay to see him and the adminastration are doing somthing about guns and so very sad to see how many people lost there lives but what about all the thousands of children lost the only homes they had and how it killed there spirits and nothing is done president said if enough peop;e speak out is what it takes more like whos got the most money that was really hard to watch

  35. Javagold,

    You create your own reality. I would rather post funny stuff with a positive spin than rehash doom-and-gloom everybody-is-out-to-get-me-and-enslave-me-and-I-don’t-have-a-crack-at-a-good-life crap.
    Everybody knows that The Daily Currant is a parody of a newspaper. But since I am absolutely dead convinced that good things are in the works (and no, it will not originate here. America, with fewer than 5% of the world population, created the whole mess. The rest of the world -95% people- will fix it.)

    It’s called free will. And unlike those who keep sapping everyone’s morale with their conspiracy theories, I am hurting no one. No shame in pleasing myself.

    Now, won’t that be a hoot when what i predicted comes true?

  36. louise, find a guy with a bloomberg subscription. i have a guy, he charges $500 for the screenshots and the affidavit that goes with it. the resecuritized loans and loans still held as foreclosed/reo/etc

  37. looks like a business failure. nevermind. shoulda checked first

  38. man, what i wouldn’t give to be the fly on the wall when they explain this case……….

    (Pub. Dec. 27 – Final Jan 10, 2013)






    Case No. 12-CV-448

    Wells Fargo Bank, N.A.

    successor by merger to

    Wells Fargo Home Mortgage, Inc.



    Melissa A. Benoy, Shane A. Benoy,

    Wells Fargo Bank NA, CapFinancial Properties CV 2 LLC, Reinhart

    Foodservice, LLC, Sysco Minnesota, Inc., Bank of America NA, William J.

    Radosevich, Capital One Bank (USA) NA, Portfolio Recovery Associates LLC, Midland Funding LLC, Citibank (South Dakota) NA a/k/a Citibank NA

    and Chase Bank USA NA


    PLEASE TAKE NOTICE that by virtue of a judgment of foreclosure entered on August 1, 2012 in the amount of $120,831.36 the Sheriff will sell the described premises at public auction as follows:

    TIME: February 5, 2013 at 10:00 a.m.

    TERMS: Pursuant to said judgment, 10% of the successful bid must be paid to the sheriff at the sale in cash, cashier’s check or certified funds, payable to the clerk of courts (personal checks cannot and will not be accepted). The balance of the successful bid must be paid to the clerk of courts in cash, cashier’s check or certified funds no later than ten days after the court’s confirmation of the sale or else the 10% down payment is forfeited to the plaintiff. The property is sold ‘as is’ and subject to all liens and encumbrances.

    PLACE: On the East steps of the St. Croix Courthouse, in the City of Hudson, St. Croix County.

    DESCRIPTION: Outlot 193, Assessor’s Plat of the City of Hudson, St. Croix County, Wisconsin, except the South 10 feet thereof.

    Tax Parcel No. 236-1491-00-000

    PROPERTY ADDRESS: 219 3rd St Hudson, WI 54016-1538

    DATED: December 3, 2012

    John A. Shilts

    St. Croix County Sheriff

    Gray & Associates, L.L.P.

    Attorneys for Plaintiff

    16345 West Glendale Drive

    New Berlin, WI 53151-2841

    (414) 224-8404

    Please go to http://www.gray-law.com to obtain the bid for this sale.

    Gray & Associates, L.L.P. is attempting to collect a debt and…

  39. I am talking about the Dick Fuld story you posted. I am sorry I cannot read your links any more as you seem to post these way too fast before you know anything about the stories. If even a few are not true it’s not helpful.

  40. Define “we”. I do. Good enough for me.

  41. Why do we care about JP Morgan stock and Dimon? He needs handcuffs and a prison suit.

  42. Christine,
    I know you are not that foolish. …..

  43. And yet… Still trading way too high. Get your money out.

    Goldman, JPMorgan easily beat earnings estimates
    Staff and wire reports9:24a.m. EST January 16, 2013
    JPMorgan building

    JPMorgan earns $1.39 a share in Q4 vs. $1.19 estimate
    Goldman earns $5.60 a share vs. $3.71 estimate
    JPMorgan shares fall, Goldman shares up in pre-market trading

    Quarterly earnings from financial heavyweights JPMorgan Chase and Goldman Sachs sailed past analyst estimates, the banks said Wednesday.

    JPMorgan, the biggest U.S. bank by assets, earned $5.7 billion, or $1.39 a share, in the fourth quarter, compared with $3.7 billion, or 90 cents a share, a year ago. The bank was expected to earn $1.19 a share, according to the average forecast of analysts surveyed by FactSet.

    Goldman Sachs earned $5.60 a share, compared with $1.84 a share for the fourth quarter 2011. Goldman was expected to earn $3.71 a share, according to FactSet’s survey of analysts.

    Ahead of the market open, shares in JPMorgan were off about 1% while shares in Goldman were up 2%.

  44. The poor thingy… What I am waiting for is for the stock to crash permanently. Just to see how he’d make out on a puny $1.5 M. salary. With everything resulting from a seriousw loss of income. To give him a sense of what we went and are still going through. And no, I have no shame wanting to share my experience.


    JPMorgan Cuts Dimon’s Pay, Even as Profit Surges

    Even as profit surged, the board of JPMorgan Chase cut the pay package of its chief executive, Jamie Dimon, by 50 percent, in light of a multibillion-dollar trading loss last year.

    By the overall numbers, it was a good year for JPMorgan. The bank reported a record profit of $5.7 billion for the fourth quarter, up 53 percent from the period a year earlier. Revenue was also strong, rising 10 percent, to $23.7 billion for the period.

    “The firm’s results reflected strong underlying performance across virtually all our businesses for the fourth quarter and the full year, with strong lending and deposit growth,” Mr. Dimon said in statement.

    But the year was clouded by a multibillion-dollar trading loss stemming from a bad bet on derivatives. JPMorgan continues to unwind the bungled trade, which had racked up $6.2 billion in losses through the third quarter of 2012. The bank said it “experienced a modest loss” in the last three months of the year.

    In light of the trading losses, the bank’s board voted to reduce Mr. Dimon’s total compensation. That decision was driven by a desire to hold him accountable for some of the oversight failings that led to the troubled bet, according to several people close to the board.

    The board cut Mr. Dimon’s total compensation for 2012 to $11.5 million from $23 million a year earlier. While his salary remained the same at $1.5 million, his bonus was reduced to $10 million, paid out in restricted stock.

  45. Maria Bartiromo blabbing more COUNCIL ON FOREIGN RELATIONS flatulence today on CNBC…..She said America should care about Wall Street financiers because if they need a road built or a school, they need Wall Street…..Her cohost looked as if to say precisely what I thought…..WALL STREET DOESN’T LEND MONEY THEY BORROW OURS…& THEY DON’T OWN ANYTHING..THEY OVERISSUE INVESTMENTS & BLOW UP & DESTROY EVERYTHING THEY TOUCH Their financiering is what got US here….NO THANKS..

  46. Deborah…..when the junk bonds soured, they went “public” ….did you check your public recordings….? This fraud is well documented on my property records. I asked the clerk at the recorders office Who is public…? The clerk said, it could be anybody…..

    So there you have it, they lost possession and dumped the evidence in a “public trust” and that’s criminal fraud on many levels. BTW…That fraud was dumped public during a refi in 2007….

    Charles said HAMP fraudclosed …. HAMP can’t do that, it was the FEDSTERS..

  47. If, indeed, this is true, that would only be the beginning…
    Interesting that those guys were allegedly fleeing to Moscow. What’s wrong with fleeing to Switzerland? What can Moscow give that Geneva can’t?


    Lehman Brothers CEO Arrested For Accounting Fraud
    Jan. 16, 2013

    richardsfuldFormer Lehman Brothers CEO Dick Fuld and three other Lehman executives were arrested today for crimes related to the collapse of the venerable investment bank in September 2008.

    The four bankers were apprehended at John F. Kennedy International Airport in New York where they were attempting to flee the country to escape imminent federal charges of filing false financial statements.

    According to multiple sources Ferdinand Pecora – the U.S. District Attorney for the Southern District of New York – obtained a grand jury indictment last week against Fuld, former CFO Erin Callen and two lower level accounting managers.

    The indictment alleged that the four knowingly deceived investors and regulators over Lehman’s use of its infamous “Repo 105” accounting techniques, concealing the firm’s true financial condition until it was too late.

    Although this Repo 105 accounting fraud had been widely reported in the media, no arrests had been made until now. Some experts have argued that the transactions were deceitful, but not unlawful. However, according to the grand jury report clear evidence exists on violations of the Sarbanes-Oxley Act and other applicable laws.

    The Greediest Guys in the Room

    Word of the secret indictment was illegally leaked to Fuld and his associates over the weekend. Fearing a public trail and imprisonment, the group hatched a plan to escape to Russia – which does not have a extradition treaty with the United States.

    The FBI arrested the Lehman Four on a scheduled Aeroflot flight, just minutes before it was set to take off for Moscow – where the still-wealthy Fuld and his associates thought they had arranged to live comfortably in exile.

    In reality, however, the trip to Russia was part of an elaborate effort by authorities to locate Fuld and his group, who had disappeared from FBI surveillance and adopted a false identities.

    Federal officials posing as corrupt Swiss real estate agents helped Fuld find and purchase a safe-house in Moscow, and then used the his financial information to trace his movements.

    As one proud agent explains:

    “Basically we sold him a fake house, and then lured him to it.”

    [Click on the link for the rest]

  48. Off The Subject a Tad, but interesting:

    In 1929, the Soviet Union established gun control.

    From 1929 to 1953, about 20 million dissidents, unable to defend themselves, were rounded up and exterminated.

    In 1911, Turkey established gun control. From 1915 to 1917, 1.5 million Armenians, unable to defend themselves, were rounded up and exterminated.

    Germany established gun control in 1938 and from 1939 to 1945, a total of 13 million Jews and others who were unable to defend themselves were rounded up and exterminated.

    China established gun control in 1935. From 1948 to 1952, 20 million political dissidents, unable to defend themselves were rounded up and exterminated.

    Guatemala established gun control in 1964. From 1964 to 1981, 100,000 Mayan Indians, unable to defend themselves, were rounded up and exterminated.

    Uganda established gun control in 1970. From 1971 to 1979, 300,000 Christians, unable to defend themselves, were rounded up and exterminated.

    Cambodia established gun control in 1956. From 1975 to 1977, one million educated people, unable to defend themselves, were rounded up and exterminated.

    Defenseless people rounded up and exterminated in the 20th Century because of gun control: 56 million.

    You won’t see this data on the US evening news, or hear politicians disseminating this information.

    Guns in the hands of honest citizens save lives and property and, yes, gun-control laws adversely affect only the law-abiding citizens.

    Take note my fellow Americans, before it’s too late.

    The next time someone talks in favor of gun control, please remind them of this history lesson.

    With guns, we are ‘citizens’. Without them, we are ‘subjects’.

    During WWII the Japanese decided not to invade America because they knew most Americans were ARMED.

    If you value your freedom, please spread this antigun-control message to all of your friends.





  49. @ Javagold

    It is Satisfied…copy of NOTE, has been sent off for payment from debt collector.

  50. the loan # has been changed ………….WHY !!!!!!!!

  51. @Christine: “carting” has been part of the mob’s extortion racket in NY for more than 50 years. Lots of “protection”, too. You are right, we have more than one mob, and they are not Italian.

  52. Poppy is close to figuring out “The GSE Business Model”.

    Like Madoff, who benefits financially?

    The only open checkbook is to the GSEs which are now 100% subsidized by the Taxpayers financing a Model which is called “fatally flawed” by every scholar on the subject.


  53. I post this because this is probably the funniest item for today. I looked for more info on this, such as names like Bernanke, Dimon, Stumpf, etc. Couldn’t find them. I thought they were the mob… Is this is case of mistaken identity?

    Associated Press

    NEW YORK — The FBI says an investigation into extortion and other crimes in the carting industry has led to dozens of arrests in New York and New Jersey.

    They say the case involves the mob.

    The arrests are in New York City and its northern suburbs, as well as in New Jersey.

    The suspects are expected to be charged Wednesday in Manhattan federal court.

    Further details were not immediately available.
    —Copyright 2013 Associated Press

  54. @louise my mortgage as well was not on the SEC web site. i contacted them over 2 years ago. sent them all the information i needed on my loan and they never found it either. yet i have a letter from wells fargo , because i demanded it, that fnm is the investor. i have no assignemnts registered. a endorsed note in blank stamped by joan m nills undated. the fraud keeps going

  55. What the shut down of the Independent (wink wink) Foreclosure Review Board is trying to cover over, is the fact that all government insured mortgage loans (FHA, VA, USDA) were illegally foreclosed under the HAMP.

    Washington Mutual (WaMu) Gov loans that Wells Fargo Bank has been servicing since Jul 31, 2006 is the blueprint to this mess in the Mortgage Backed Securities (MBS). First WaMu either originates or purchase a Gov loan and does in some cases record title at the local county land recording office which it must if it want to attach the lien to the properties. On the purchased Gov loans were the originating lenders have recorded title at the county office MERS tries to say that they are the Beneficial for the banks.

    However in both cases WaMu placed the Gov loans into Ginnie Mae pools by endorsing the Notes in blank and without an purchase occurring, Ginnie Mae take physical possession of under UCC 3 and owns that loan without owning the debt. This is done so that Notes are owned by Ginnie Mae, and as in the Sept 25, 2008 seizing of WaMu the bankruptcy remote procedure worked in not having the 1.3 million Gov loans seized by FDIC or bankruptcy court. The reason they were not seized was because Ginnie Mae was the owner of the Note but the debt was wipe clear because the loans were not purchase.

    Understand that the lenders who when relinquishing the loans to Ginnie Mae are now an “issuer” and not longer the lenders because as they endorsed the Notes and simply handed it over. In a later transaction where the now “issuer” is advanced funds. The homeowner’s payment pays the debt that the “issuer” has made from selling the MBS.

    These investor are not lenders who are buying MBS and are not buying home mortgage loans as they cannot anyway. So Ginnie Mae for whatever reason on earth, this corporation that not a lender and in fact the Congress does not allow then to be one, and they don’t buy the debt, has the blank Notes relinquished to them as the underlying collateral of the securities, but has no financial interest in the deal.

    They never figured that anyone would figure out the scam, but that was based on only a few foreclosures to this situation of as many as 800,000 foreclosed and limbo non-modification. What happen is the pool of screwed homeowners expanded by ONE to many people, and is the case of Ginnie Mae pools the power of ONE mission was to break to light the error in the Ginnie Mae system.

    What going to be found out is that not only is there not a debt owned but that never was a payment applied to the balances on the loans, because there was not leader after the blank Notes were relinquish. So not only do you owe for stolen properties but payments pay over the course of the loan while it was in the Ginnie Mae. Where are the charges of securities fraud, and were are the monies paid out in fail claims, where these clown servicers submitted fraud claims to the US Insurance programs to the tune of $8 billion plus treble damage then the US is owed $24 billion and that not counting how much was and is going to be lost with the Government purchasing these properties at these fraudulent foreclosures sales!

  56. Absolutely…stealing the payments…

  57. The FED shareholders & investors are pocketing our remaining wealth and Obama and the politicians are helping them destroy our country.

  58. Poppy…our money is going to the FED shareholders…(the Rothschilds are their biggest shareholders, the Jesuit/Vatican proxies the rest) and their Investors…our enemies, mostly foreign, a few domestic. BLOOMBERG NEWS reported the FED collects TRILLIONS of dollars in mortgage money every month. They are not owed that money because of the Origination Fraud & Wall Street destroyed the value of our properties by overissuing investments in revenue flows. This is the biggest financial scam in history.

  59. Watched the video…again the government, particularly Obama is running this…crazy stuff. You scratch my back, I’ll scratch yours..

  60. The FED investors have hijacked the country. The traitor politicians are working for the FED CORP OF AMERICA. None of us agreed to be a party to that merger and acquisition of WE THE PEOPLE by these foreign crackpots….IMHO this is a full blown hostage situation and has been since these financial terrorists declared war on our wealth and ourcConstitutional Republic in 2008…and hijacked the Treasury.. Obama doesn’t need to hire a replacement for Geithner…the treasury secretary is no more than a FED figure head….Bernanke is the hidden head of our U.S. TREASURY…These are dirty crooks.

  61. @Abby, they tried to foreclose on me with a Deutsche Bank trust. The DB trust was not in the SEC database. The atty told me that it was on there, but had been taken off. It is my understanding that if it was taken off, it was no longer active, i.e. no longer taking in loans and not viable.

  62. And so it starts….

    Perhaps it’s time to close your BofA account

    > http://www.youtube.com/watch?v=-iwp7qLPFnI&feature=em-uploademail

  63. I agree they were not lenders, but I think, again, our payments are going to the FED, no banks, no servicers…they are hiding this information from us, that’s why most of us cannot find the documents. Massive paperwork is being buried connecting the Fed’s involvement and we both know why!

    Knowing some that cannot find their payments and 2 not in default, but put in foreclosure…with 2 attorneys…they cannot find the paperwork for payments missing and the party whom cashed the check from origination, it is blurred on the back of the check. No accidents here…

  64. The quasi government agencies, Fannie & Freddie were not the lenders, the U.S. TAXPAYERS were. Fannie & Freddie were also “investors” on their private side and they did supposedly “buy back” mortgages for pennies on the dollar for their biggest shareholder/investor, the IMF. The GSEs were never in legal possession of any property. It’s all fraud and fiction. “What if the politicians told everyone to eat stricnine….would we do that to….? Sure we would, if they labeled it cumedin and called it a blood thinner. People believe a lot of bull. Like flouride in the water is not poison…but it is.

  65. If Fannie and Freddie own the “notes” bought them, then to me, there are two possibilities, given the notes/MBS’, one in the same, have zero value…that is why we are propping them up buy buying at taxpayers expense 43 Billion a month or if Fannie and Freddie own the “junk bonds”, which is what they technically are: they are stealing the payments from us, to replenish the purchase of these notes/MBS’…they are only entity that could pull off this Ponzi Scheme, with no prosecutions?

  66. Poppy

    The question. . What if Freddie or Fannie claims to own the mortgage ?.What is the story behind this mess ? So how to find eveidence ?

  67. Just a thought here: if we all start filing against they attorneys…it will certainly shake the branches. Most of the substitute trustees are debt collectors, hint-hint…note was satisfied and sold to them…just like hospital bills, credit cards, etc…non-secure debt and no collection can be made with the security. Just saying…

  68. fraud upon the court must be taken seriously by the judiciary the integrity of the court and public confidence must be upheld it is the judges DUTY. when material facts are known that would impact the outcome of the judges ruling and is concealed and widtheld deliberately to influence a ruling then heck yes the attorney should be held accountable, and especially if further harm results, my home was taken due to the blocking of due process. no excuses. thats what happened.

  69. The bank attorneys are violating the laws of this land with impunity and the judges are allowing it. The appointed dictator is sending the entire country into turmoil.

  70. I personally think, the gun orders, will be Obama’s most difficult fight. People will fight over this, more than the foreclosures…the King has spoken…Hmm

  71. The fact is, all of these lawyers are breaching the ethics rules of the sworn oath..the lawyers have flown under the radar. I think they too should be sued, for their behavior. Go for the low hanging fruit, like the others do, when they go after the notary.

  72. Critics blast Obama’s Gun Laws….Obama signs 23 Executive Orders violating our Second Amendment rights. Texas Representative Steve Toth (R) said….. We are a Constitutional Republic. Our rights come from God and are enumerated in the Constitution.

  73. if only the words truth and justice meant somehing to the attorneys representing the “banks”. i wish they would just fiip into being in truth and say “no more will i do my work dishonestly and harm my fellow man in the zillions and even who are not even born yet”

  74. yes Poppy, i have nighmares

  75. @ Deborah

    I have said this many times, after looking through thousands of satisfactions of deeds. The notes are satisfied, the loan numbers, file numbers, etc…signify these transfers, but are only available to the party filing them. The largest “felony” herein is the satisfaction of the mortgage and the collection of the same debts, over and over, then the “illegal” foreclosure. That’s why they are hiding the stuff, because this is where the criminal charges can stick. It is my belief anyone who can get evidence of this, may get hurt…seriously, because this will unravel so fast…complete Anarchy will follow.

  76. The Federal Government is the ONLY player that could move all this and hide the truth. This is “unconscionable”. Citizens do not understand the title issues, even for those who on the face of this; are NOT in default and are current, have a long-term problem. The taxpayers bailed them out, insurance claims were paid, FDIC claims were paid and notes sold…while we are buying 43 Billion dollars of MBS’ each month for 18 months. People need to get their head out of their ass. This NOT because people borrowed more than they could afford, that bullshit has been “evidenced” long ago. It occurs to me, the Fed is taking our payments, not the banks, servicers, etc…is anyone going to follow the money trail?

    My question is: What is the government doing with the payments they are receiving from homeowners’?

  77. does the same principle not apply to FDIC with the transfer of assets sold (for pennies on the dollar) to one west – we all know that 95 % of indymacs loans were toxic. i asked for this info under FOIA i got a one line of this is your loan and it went to one west , ( believe me i asked properly for info that is allowed under the act but thats all they were willing to share) now at the outstart of my litigation FDIC stated in a letter to me that one West got “certain assets” one being “servicing rights” does this entitle them to continue to foreclose and sell the home to HSBC who are a stranger to the loan transaction but get issued a trusttes deed upon sale, i had never heard of deutsche bank and the trustee being HSBC, i was told by Indymac the investor and trustee is wells fargo- they were found later to be listed as the master servicer, indymac was not listed as sub servicer at no time was wells fargo mentioned in their claims, how can wells be trustee for the trust and the owner/investor, but that is what i have in writing from indymac. so my home was sold secretly after i came out of BK voluntarily to pursue the litigation in fed court not BK court ( and by the way i blocked the lifting of stay myself until i had my adversary proceeding done- i asked for the duly negotiated note with chain of transfers all the way up be attached to their proof of claim- but we know how AZ got around that, so i digress but my point is the stonewall as neil says speaks volumes.

  78. @Louise
    sometimes the loans went into private securitzations in which case, I believe, they do not have requirements to report to the SEC.




  80. Any Ideas on how to find out if the banks are simple NOT going to pursue a foreclosure. Chase filed foreclosure papers on us over a year ago and NOTHING has happened since then.. Me and our attorney are waiting for the bank to STATE it’s actual claim on said property and it does not seem like they are going to . We paid for Title audit and the note is a complete mess ( As I already knew)

    “The bank chases the homeowner out with threats of foreclosure, perhaps even initiates the foreclosure and then dismisses it leaving the ownership and liabilities of the home in limbo,. Florida addressed the problem by giving time limits to the bank before they were liable for the assessments” Neil

    And please no harping about a deadbeat homeowner. My wife and I put 20% down only to see the property depreciate another 40%. We where stuck at 7% and contacted the Servicer countless times only to be denied ANY KIND of Mod.. This July will be 2 years of non payment and it seems the bank MAY not pursue it’s foreclosure. I actually welcome them to try though..

    Illinois here…

  81. My alleged loan could not be found on the SEC website, so it looks like it was resecuritized. The attorney at the SEC told me she could not find it on the SEC website and that if it had been taken off, and it was because that particular trust was no longer in existence. If it was resecuritized in actuality, that means it has been paid off at least twice. The amount of fraud is just amazing.

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