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Editor’s Analysis and Strategic Tips: At a glance, anyone should be able to see that the issues upon which investors are suing the investment banks over bogus mortgage bonds are virtually identical to the issues present in every foreclosure case. It is not hard to see why: they are both the only real parties in interest, they were both told the same lies, and they were both victims of a scheme that was common to investors and borrowers alike in which title, money and insurance were intentionally diverted from the streams of money pouring through Wall Street. Both are injured parties resulting from the scheme and both should be compensated for the fraud at the bottom, in the middle and on top of the chain of lies.
And now they share one more thing adding insult to injury — they both are filing suits that are going nowhere, except in sporadic circumstances. It’s true that the tide is turning in many states, most recently Georgia, but the fact is that most foreclosures are “completed” using false documents, false demands for money and false credit bids.
In the article below it is revealed that Judges are ruling that investors can’t simply say they were defrauded by bogus mortgage bonds, but rather they must file a separate lawsuit on each loan that did not measure up to industry standards at the time of the alleged underwriting. This is interesting because now if the investors proceed, a borrower can look up to see whether his loan is being targeted by the investors, what they are saying about it, and whether there is discovery that can be shared between investor and borrower.
As long as 5 years ago I suggested that the only way the mortgage mess could truly be cleaned up is if the borrowers and lenders (investors) put their hands together and went after the investment banks and all the tentacles spreading out from those institutions now of ill repute.
A pincer action between investors coming from one end alleging they are the real parties in interest and the borrowers coming from another direction could and I think most likely would be successful.
The “curious” paragraphs that require 25% of the investors (who don’t know each other because the investment bank won’t give them names) to enforce put-backs reveals that the investment banks never really intended to do anything about bad loans but rather intended to screw the investors.
But if investors and borrowers complained that the lending was not actually performed by the originators who were mere nominees for undisclosed parties and that the note and mortgage were fatally defective for lack of consideration, ANY investor could join that suit because it wouldn’t be about put-backs, it would be about fraud, theft and PONZI schemes.
And if the investors alleged that the money was put into a general fund instead of a trust fund for the REMIC they thought they were buying into, then the investors would not be bound by the constraints of the REMIC documents because the investment banks ignored those entities when they were moving the money around, doing and moving the documents and closing and selling paper that was fatally defective.
At that point both the lender and the borrower would be complaining that the mortgage documents were not real and they could directly create a clearinghouse where new mortgages were established based upon true fair market values and BOTH could still go after the investment banks for consequential and punitive or treble damages.
This would of course raise the myth or test the myth that the mega banks are too big to fail. I think that is simply not true and never was true. In fact, it is the major banks who are refusing to execute their promise to lend and revive the economy. The money siphoned out of the economy properly should be paid to the lenders (investors) and thus reduce the balance due on the lender’s receivables.
Any accounting from the MASTER SERVICER would show that the bond receivable, which ought to be roughly equal to the notes receivable, is deficient, with the gap representing money diverted from the money chain by the investment banks contrary to the express terms of the offering made to the investors as stated in the prospectus and PSA.
By simply comparing notes with the borrowers, the investors could have iron clad case. Unsecured loans that were toxic and fraudulent from the beginning could be converted to secured loans that are conventional and worth every penny written on the documents that describe them — like the note, mortgage etc. The investors should be mitigating damages instead of letting investment banks bang them over the head repeatedly with compounding lies. The mitigation of those damages should reduce the loan balances to what they should have been in the first place without appraisal fraud.
As it stands now every mortgage transaction is suspect as to validity, enforceability and security. Getting the investors and borrowers together could change all that, and provide substantial fiscal stimulus to the economy without the government spending a dime — in fact, quite the opposite, the government could recover hundreds of billions of dollars paid in guarantees on the bogus bonds and loans.
Every day we wait, the damages to our economy the corruption of our title records and the confidence in our economy as presenting a fair playing field is compounded.
Dear Pension Fund Manager: I know you think of the borrowers as ants living in a remote world, but many of those “Ants” are the same people expecting pension benefits that will need to be reduced because of lack of money caused by your losses to the investment banks who still have the money.
Isn’t it time you got rid of your bias against homeowners and borrowers and realized that it is in your self interest to treat the borrowers, especially those who are fighting in the court system, with respect and dignity.
If you don’t these pensioners are going to come after you for not doing all you could to recover the funding for the pension fund you manage. You are being set up by the investment banks and they are in the process of throwing you under the bus without you realizing it.
From http://www.nakedcapitalism.com
New Ruling on Mortgage Putbacks a Potential Huge Win for Banks
Even though, for most people, the housing crisis is a thing of the past, the fight over who should bear the cost of sloppy and openly fraudulent mortgage
origination and securities sales continues to grind through the courts.
We’ve written now and again about mortgage putback cases, which are also called representation and warranty, or “rep and warranty” litigation. Investors in mortgage-backed securities were not quite as dumb as the crisis aftermath had made them look. The sponsors of the securitizations made promises in the offering documents (called representations and warranties) about the quality of the loans. It turns out they lied.
Normally, when a loan is found to be worse than the sponsors promised, the remedy is a putback. The originator is required to take the bad loan back and replace it, either with cash or buy replacing it with a loan that was of the quality that the investors were promised. However, the mortgage securitizations put hurdles in front of the investors: it took a minimum level of investors (usually 25%) to demand putbacks and it was hard for any investor to know who else had bought a particular deal. Even then, the trustee (who was the party who was responsible for putting back the loan) almost always ignored and fought investor putback requests. They have ongoing relationships with the sponsors, so they don’t want to ruffle big meal tickets, plus the margins for acting as a mortgage securitization trustee are thin, so they don’t lift a finger unless they absolutely have to.
Investors have thus been going to court to enforce their putback rights. We haven’t been enthusiastic about these suits. It isn’t that the investors weren’t harmed or that the banks really didn’t lie about their wares. But we have always been of the view that ultimately, if these suits get anywhere, the plaintiff would have to show on a loan by loan basis that the default was due not to normal underwriting losses (as in death, disability, job loss) but specifically because the loan was bad (as the loan was so badly underwritten that default was highly likely). That is, the plaintiffs don’t just have to show that their contracts were breached (the loans were worse than they were supposed to be) but that the breach was what caused damages.
What makes these cases potential duds, or at best unlikely to produce damages within hailing distance of investor losses is the fact that they will likely require a loan by loan fight. Imagine the cost of each side doing discovery on a loan, and telling its version of the story as to why the borrower defaulted. Multiply that by thousands of loans and the cost of proving how much you are owed becomes very costly relative to what the plaintiff might recoup. That’s why the people we know who have experience in rep and warranty litigation have expected these cases to settle for comparatively small percentages of likely losses suffered (now having said that, in an important ruling last year in Syncora v. EMC, the judge agreed that misrepresentations about loan quality would increase the risk of an insured loan pools, meaning Syncora would not need to get into a huge analysis of how many loans defaulted and why. But that ruling was based on insurance statues, so that doesn’t help mortgage bond investors).
The cases that are furthest along are those involved monoline insurers, since they had stronger putback rights in their contracts than bond investors. In MBIA v Countrywide, the judge agreed to allow MBIA to construct a sample of the loans (the two sides will now fight over what is an adequate sample) but even within that sample, we’d expect both sides to do a loan level analysis, which would probably include loan level discovery. Ugh.
Alison Frankel of Reuters points to a new ruling which could make this investor-unfriendly picture even uglier. A new ruling has told bond investors to file separate cases on each loan they think was misrepresented. No, I am not making that up. From her post:
I did a double take Wednesday, when I noticed a pair of new suits by Lehman Brothers Holdings in federal court in Colorado. The complaints, which are almost identical, claim that the mortgage originator Universal American Mortgage breached representations and warranties about loans it sold to Lehman, which subsequently suffered losses as a result of those breaches. But here’s the thing: Each suit addresses only one supposedly deficient loan! Lehman’s lawyers at Akerman Senterfitt allege that Lehman sustained about $100,000 in damages on one of the loans and $120,000 on the other — numbers that are light years apart from the multibillion-dollar claims we’ve seen from groups of mortgage-backed securities investors who band together to assert contract breaches in thousands of loans at a time.
The Lehman complaints each also contained a curious paragraph, noting that the claims at issue were previously asserted as counts in an eight-loan put-back case Lehman was litigating in federal court in Miami. The judge in that case, Lehman said, had decided after a pretrial conference last week that “each loan must be filed separately, rather than joined within one action.”
That notation sent me to the docket in the Florida case, and to the order entered by U.S. District Judge James King on Jan. 9. It’s true: King ruled that every allegedly deficient loan has to be addressed in its own suit, not in a block case. “The lack of commonality among the various factual circumstances pertinent to each of the eight individual loans makes them all but impossible to be adjudicated together,” King wrote. “That lack of commonality flows from, among other things, the facts that each of these loans was made at a different time, to different borrowers, in different locations involving different purchases of different real properties; most fundamentally, each loan requires separate proof as to whether a breach occurred, what damages, if any, flowed from any such breach, and what the amounts of any such damages are.”
To add insult to injury, the eight loan case was far enough along that it was scheduled to go to trial in March. And even though this conclusion may seem barmy to some readers, it may have precedential value since few investor putback cases have gotten very far:
Universal American’s lawyer, Philip Stein of Bilzin Sumberg Baena Price & Axelrod, told me Wednesday that if other judges
following King’s lead, the ruling could have profound implications for put-back litigation, since it significantly increases the cost of asserting breach-of-contract claims. (Stein also blogged about the order at Bilzin’s Mortgage Crisis Watch site.) Few put-back cases, Stein said, have reached final pretrial conferences, so few judges have considered the kind of commonality challenges he raised back in 2011 in Universal American’smotion to dismiss the Lehman suit. The judge denied the dismissal motion in order to permit discovery, Stein said, but was receptive when Universal American revived its argument at a pretrial hearing on Jan. 4.
If this ruling does establish what Frankel correctly calls “a new paradigm”, you’d need your head examined to ever invest in anything other than government guaranteed mortgage bonds. And of more immediate import, investors who had hoped they would recover some of their losses will find, yet again, that they’ve spent a lot on lawyers to find out that they don’t have much protection under the law.
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud | Tagged: banks, borrowers, Custodial funds, fraud, investment banks, investors, Master Servicer, REMIC, trust, trust account |
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Well, Thanks for sharing this.
You can’t teach people what is good and righteous. That comes from within.
People are waking up and seeing these politicians are communists and Obama is a TOTALITARIAN dictator. College shooting at a Texas college today….I could only imagine the evil motive behind this one. Of course, I never take anything at face value.
We need to have faith in ourselves. I have faith good will prevail. That is all anyone really needs. I know the good Lord always delivers.
ToLLe,
When you have a minute, give me a holler so we can join Robot in that “healing the sick and ending world poverty” thing she wants to teach us.
The below comment is for evil Tolle the troll.
Oh wow….I like that! I’m going to see if I can change my LL log-in to be:
Evil ToLLe the Troll! Kinda’ like Vlad the Impaler….thanks strips/assvent.
“You could have healed the sick and ended world poverty…”
Shoot! I was waiting for you to show me how it’s done…
“It is sad to watch even though I know this evil intended to permanently harm me and my family. That is because I have a soul.”
Don’t worry about that. St Kudlow is praying for you. He is right this minute kneeling with Santelli and the entire CNN and CNBC crews. I even have it on good authority that Alex Jones and Jesse Ventura are bending Gawd’s ear in your favor.
The below comment is for evil Tolle the troll.
I don’t believe in self medicating. It gives the enemy places to hide. I thank God for my beautiful children because they have enlightened me to see the best things in life are the gifts given to us from our Creator.
Christine ……you are all insane crooks and it will be a bittersweet symphony watching all of you crooks meltdown from your own evil . You are all drinking your own evil concoction and it is lethal. You could have been so much better and done really wonderful things for mankind. You could have healed the sick and ended world poverty but instead you chose to deceive mankind just to steal, murder, maim and destroy to try and control peoples destinys…
It is sad to watch even though I know this evil intended to permanently harm me and my family. That is because I have a soul.
E.T.,
Do you remember Calvin and Hobbes? “Hey, stripes/ivent, is this really your brain or did your neck throw up?” It is kinda funny. Especially when M.S. makes his own entry and they get into that weird love/hate little dance. But I can see where you’re coming from. I’ve not wished a loss to anyone, even when they went on the attack for no apparent reason (and we’ve had a few weirdos in the past) but, strangely enough, when I am faced with Robot’s religion, I seem to completely lose mine…
18 years of mortgage payments to a stranger to the mortgage…without my knowledge…..they destroyed our wealth, our property values and our good names and it was deceptive and it was intentional and therefore criminal….
Christine said, “They owe me a ton…” The math! The math! I want to see the math!”
It’s simple really…. 37.5 pounds per day after notice of default….16 kilos per month when in default….127 ounces per day prior to eviction. What’s not to understand?
I’ve totally changed my mindset about stripes/ivent. I understand I’m using up an entire lifetime’s worth of schadenfreude, but it’s too hilarious to turn away. I hate to admit it, but it’s fun watching someone meltdown in real time. What a hoot watching all the blame games. Her head will go supernova real soon, taking out an entire neighborhood, we’ll read about it in the news, I have no doubt about that.
THEY ARE OUT TO GET US ALL! RUN TO THE HILLS! THE FEDSTERS ARE IN CAHOOTS WITH BERNANKE! HOW DO I KNOW THIS? SANTELLI TOLD ME….IT’S ON CNBC RIGHT NOW! GAWD HELP US ALL! IT’S THE WORK OF SATAN!
She’s the reason Valium and Prozac were created. Oh, and birth control.
“They owe me a ton…” The math! The math! I want to see the math!
As usual guest you are wrong. I live in the real world now and I see this evil and all of its snares. I don’t call or summon evil….I call out evil and then evil hides and takes other forms. I know their conpiracy is always lurking and trying to entrap me in many ways both obvious and inibvious. That is why I am exposing it for the good of mankind….because mankind is meant to be free. I pay no creed to it or evil trolls like you. They owe me a ton….they stole everything from me and my family however it’s not just about what they stole from me…..It’s about what they really want…my freedom. I know Liberty and Freedom will prevail.
E. ToLLe,
You have to admit: there is something pathological about shooting one’s self in the leg from the hip and turning around and accusing everyone else of having purposely aimed at it.
In a strange way, it is fascinating…
I said that the caveats in the trustee’s sale notice like the ones in the Davis case are enough imo to put a prospective buyer of the property on a duty of inquiry. That means a purchaser has an obligation to find out what those caveats are about, which may include talking with the homeowner. It doesn’t really take much for the duty to be imposed. Possession by one not in title, for instance, can trigger the duty and the avoidance of that duty may if not will find the purchaser is not a bonafide purchaser without notice ( I said value before – I meant without notice). The cases at the link below concentrate on possession by one not in title. They’re what I could find readily which discuss the duty of inquiry and what that means as to determinations of “bona fide / good faith purchaser without notice.” I don’t know that anyone wants to avail himself of these facts to help in the fight against a foreclosure which has already taken place and the alleged finality of the f/c sale. Maybe people do, so here’s the link:
.
http://homeequitytheft-cases-articles.blogspot.com/2009/02/california-bona-fide-purchaser.html
If you were litigating and the bankster was granted a mtn to dismiss,
because a granted mtn to dismiss is not an adjudication on the merits (where as SJ is deemed so), it’s possible a purchaser couldn’t rely on the mtn to dismiss to avoid the duty of inquiry. But on this one, make sure to ask a competent attorney. SJ may not in fact remove the duty of inquiry, esp if the circumstances which trigger the duty still exist or are yet advanced, like in the Davis’ Notice of Sale. In other words, even if a bankster were granted a mtn for SJ, but the Notice of Sale
issued (still) contains those caveats, the duty may well still exist and you may be able to avoid the bonafide purchaser ‘finality’.
lay opinions – ask a lawyer or 10
I guess she is not going to call the Cook County Tax Collectors Office today or any other day, her common sense is as about as good as her math and her mouth. She lives in her own little world where everyone owes her and is liable for supporting her. Tick..Tock…
Full example in the comments below from E Tolle on how evil works….It defies human logic so you think illogically that is how they try to control. The big lie they try to sell to discredit you…they want to make you believe them and not logic. They want to outsmart you. Black is white…white is black….study that ill logic.
All that remains is a driveling idiot shouting, “THE FEDSTERS DONE IT! IT’S THE FEDSTERS I TELL YOU!
And she believes that all 300 trillion Americans should be compensated!
Bwahahaha bwahahaha bwahahahaha
This evil wants to destroy the truth by destroying you by attacking your mind, body and then they steal your soul.
….and then they take your sanity….your social skills….and then you can no longer even do basic math!
Bwahahah bwahahahahahahahaha
They want to steal everything you love…and hold dear. They have destroyed millions of families, caused millions of divorces, mental breakdowns and suicides. They want your life and liberty so you give up your freedom. They want to weaken your spirit so dramatically that you submit to them or succumb to their evil snares that they lay. Please keep in mind one thing, and this is the most difficult thing to remember in all this madness they have created to destroy each individuals free will….THIS IS A SPIRITUAL WAR… that is the most important thing to remember. They want to destroy your credibility. Look at what they have done so far as proof.
The only way to fight this evil is pro se and people are not educated properly on this. That is incredibly evil because many Americans just can’t grasp the complexities of this mess. It is a way of thinking and learning that most Americans were never taught. People are so overwhelmed with so many anxieties and daily struggles they can’t think straight let alone educate themselves at the higher level. This goes way beyond law, there is a very strong esoteric level to this and it is over in the dark side. They want you to sound crazy because quite honestly, the level of evil here defies normal human logic. When nothing makes sense it causes confusion. They are masters at the art of deception. This is why they want morality destroyed, then you will go along with anything because nothing has any real value when you want to live an immoral life. These politicians are living proof of that.
They want you to give up everything you worked your entire life for and in return you get nothing of value but you don’t even realize you were swindled out of your soul…..your freedom and liberty. They will destroy many lives and steal as many souls as they can by many deceptions along the way.
I believe we really need to study the dark side of this esoteric world they live in to be able to open up our mind enough to grasp this. We really do need to know how evil thinks, believes and works…think 50 shades of grey squared….. It is about soul possession through the mind. Studying this realm is so important….this is what we need to do to defend ourselves properly in this war that truly is 100% spiritual. It really takes a strong belief in a greater good whatever we believe that greater good to be. It is difficult to do because this level of evil is incredibly hard to recognize sometimes….it is subtle and comes like a thief in the night. We have to try really hard and it is really hard at times because we are all human and at times like these, very fragile but we have to work hard and stay focused on our main goal…freedom and liberty…and let that greater good be our guide. Know that your ultimate goal here is to be free and that will restore your liberty. That is the best incentive to ward off evil. Rise above their evil levels and know there is something better on the other side of this and they will try to use many evil snares to entrap you in the dark side. Go directly for the bright light at the end of their dark tunnel.
Don’t believe their lies…they want you to believe lies they make up and if they can’t they lie about you and try to convince you and others of their lies about you so you lose faith in yourself and give up…These are demons and this is a spiritual war first and foremost..educate youself so you never believe their lies. This evil wants to destroy the truth by destroying you by attacking your mind, body and then they steal your soul.
I agree with Pete Santilli in the video below…DON’T TRUST ANYONE….VERIFY…. WHY? Very clever and very cunningly deceptive demons are roaming the earth and they want you to believe their lies. They take on many forms…. they appear good on the surface…they are not good…at all. This is first and foremost a spiritual war. When you know the truth, you live the truth and you speak the truth this evil wishes to destroy you in one of 3 ways…..mentally, physically or emotionally…… that is how they destroy you and get your soul. These people are possessed with hatred towards the truth. The truth is powerful and takes power away from them and ruins their evil plans for world domination and to accomplish the ultimate evil they need everyones soul……. The truth is, this is a mental, physical & emotional war on our souls……a spiritual war on all of us. If these demons cannot get you to believe their lies they will attack you in every facet of your life. They want to exhaust you in every way so you give up and submit to all of their evil plans for mankind. They mostly aim to discredit you so that you go away into a drug or alcohol induced stupor. Know them by their deceit and the lies they tell to you and about you. Knowledge is power. Don’t believe them…
Javagold,
It’s hopeless. A person who refuses to see how wrong he is is a bad faith moron. At least we know why she’s fighting foreclosure. And we know she’ll lose. After pissing off everyone at the court house. With that kind of an attitude.
E. ToLLe,
Even when you don’t address Robot, it somehow believes that everything is addressed to it.
“” A person who refuses to admit when they are wrong is a fool.”” You can not argue with that!! Her math and her tax law needs a little polishing. If she can not see that … She is the Biggest Fool of All! Maybe she will call the Cook Tax Collectors Office today and ask a little question and maybe she will get out her calculater. Or maybe she will just sit on her butt all day and argue with a screen trying to convince it she is right.
I don’t know how many here know what’s up with real estate right now, but I was out and about looking around yesterday for a house for my 80-something y/o Aunt. Being in contracting for some time, we looked at houses that needed repair (generally equity out the gate).Anyway, looked at a few foreclosures…the circle is complete for me…all Fannie and Freddie products, with very strict disclaimers, with special warranty deeds, release of liability and no inspections, no refunds, must purchase or loose the good faith deposit!
We have paid for everything from TARP to the reselling of OUR homes, by the government. Dumping all of the values surrounding these homes, so in some places look for further reductions in retail price.
Footnote: the agent was very specific about a lot MORE COMING DOWN THE PIPELINE. My opinion only: the deal was brokered with the “fake notes”, with immunity for the gangsters, if the properties (DOT-notes) we relinquished.
Nice…just my assessment here!
Stripes ,
Ok you are correct. 2 + 2 = 5
But i need to know how much is it if each of the 300 million was given just $1.
A person who refuses to admit when they are wrong is a fool.
Really Christine….? The Central Bankster Pirates have been buying tonnage of gold with what…. ? Our stolen gold as a credit card…? You trolls make less & less sense every day….Deceptive sheister crooks. That’s all you are…. THE WORLD BANKSTERS SAY… LOOK at the shiny new gold standard we are going to give you in exchange for the QUINTILLIONS we stole from you to fraudulently induce your slavery to us….! MWAHAHA … OH HELL NO…PAY US BACK WHAT YOU STOLE YOU CROOKS..
What the hell is wrong with you people …? ONE MILLION DOLLARS TO EACH ONE OF 300 MILLION AMERICANS IS $300 MILLION DOLLARS…
Guest…..I don’t doubt these DECEPTIVE FELONS got caught committing trillions in insurance fraud……However, they were fraudclosing way before they were massively overpaid that insurance money on our MASSIVELY OVERLEVERAGED HIJACKED PROPERTY…..Our property is worthless now because of the $60.4 TRILLION IN BAILOUT FRAUD….Our property is now worth only what the vultures will pay. These vulture capitalist crooks are stealing from us too. They must be forced to return the $60.4 trillion in our wealth they stole plus whatever else they stole because they NEVER OWNED ANYTHING BECAUSE OF THE ORIGINATION FRAUD…JAIL THESE PSYCHOPATHS …
Stripes,
I don’t care what you post here. It sounds good. But please don’t fuck up simple math !!
300 million people would each get $1. That is what you have been complaining about. $1.
THESE WORLD BANK SHEISTERS WANT A GOLD BACKED DOLLAR BACKED BY OUR STOLEN WEALTH & THEY PLAN TO SEIZE ALL OF OUR ASSETS AND CHARGE US A WORLD TAX AND MAKE US SLAVES TO ALL OF THEIR CRIMINAL FRAUD ….
THESE CONTROL FREAKS WANT TOTALITARIANISM ..
THESE ARE FRAUDULENT FIXES BY THE CROOKS WHO ROBBED US…
E Tolle…Anyone who knows the truth knows that no one should believe or feed troll animals like you.
CHRISTINE…NO ONE CARES WHAT THESE CROOKS WANT……
WHAT THE FED/CENTRAL BANK/IMF/WORLD BANK CROOKS REALLY WANT IS TOTALITARIANISM…COMPLETE CONTROL AND OUR SLAVERY TO THEIR MASSIVE DEBT FRAUD AFTER THEY ROBBED US…
OH HELL NO..
WE THE PEOPLE DEMAND OUR STOLEN $60.4 TRILLION DOLLARS PLUS WHATEVER ELSE THEY STOLE BE RETURNED FROM THESE CENTRAL BANK CROOKS …
NO VATICAN/ROTHSCHILD/JESUIT MARK OF THE BEAST GOLD BACKED DOLLAR…..
ABOLISH THESE FED CRIMINALS …
COIN & ISSUE OUR OWN CURRENCY….U.S. BANK NOTES…
This is really why they are fighting to get the fc deeds ……………………
…. If you step back from the situation to get a broader view. you will see the pattern and the reality. The pretender lenders forced most of the foreclosures away from settlement, modifications and short-sales because they would expose themselves to huge liabilities for repayment of insurance proceeds and credit default swaps on derivative instruments that were called out as devalued.
A new Gold Standard is being born
By Ambrose Evans-Pritchard Economics Last updated: January 17th, 2013
751 Comments Comment on this article
The world is moving step by step towards a de facto Gold Standard, without any meetings of G20 leaders to announce the idea or bless the project.
Some readers will already have seen the GFMS Gold Survey for 2012 which reported that central banks around the world bought more bullion last year in terms of tonnage than at any time in almost half a century.
They added a net 536 tonnes in 2012 as they diversified fresh reserves away from the four fiat suspects: dollar, euro, sterling, and yen.
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100022332/a-new-gold-standard-is-being-born/
300 MILLION DOLLARS opposed to $60.4 trillion dollars….that went to WHO….???? NOBODY EVEN KNOWS WHO THESE CROOKS ARE….CNBC CALLS THEM….THESE MANIACS…..WHO ARE THESE MANIACS….? THESE MANIACS CERTAINLY NEVER LENT THE AMERICAN PEOPLE $60.4 TRILLION DOLLARS…..WE THE PEOPLE HAVE A RIGHT TO KNOW WHO THESE MANIACS ARE….AND HOW IS THE NATIONAL DEBT NEARLY 17 TRILLION DOLLARS WHEN WE HAVE THE POWER TO COIN AND ISSUE OUR OWN CURRENCY……? WHY IS THE FED BEING ALLOWED TO KEEP PRINTING OUR CURRENCY BACKED BY ZERO AND HANDING US MORE DEBT WHEN THE FEDERAL RESERVE BANK…..A PRIVATE BANK OWES U.S. TAXPAYERS AN INNUMERABLE AMOUNT OF MONEY.. .? This is criminal. Obama said these bills are already racked up….SAY WHAT…? OH HELL NO…! WE THE PEOPLE PAY FOR EVERYTHING UPFRONT …..THIS IS ALL FRAUDULENTLY INDUCED RE-SOCIALISM OF OUR STOLEN WEALTH AND IT WILL BANKRUPT THE AMERICAN PEOPLE…
Christine …..did you fail basic math..? There are three hundred million Americans…..the Treasury recovers our stolen wealth and cuts a check to each of those 300 million Americans for $1 million dollars…that is 300 million checks written for $1 million dollars..that is $300 million dollars….
But wait another second. There may be a surprise for the trustee.
“A contract doesn’t survive a closing”, which I’ve commented about before. (Seller agreed in the sales contract to pay 2 pts for Buyer. Deal closes and Seller didn’t pay two points – Buyer is out of luck).
So if this applies to the deed, then unless the deed itself makes those
reservations (without covenant or warranty) it’s possible they’re made.
I’ve never seen a trustee’s deed. Anyone know what one actually says in this regard? It’s sickening that these yeahoo’s are trying to pull this junk on everyone.
lay opinions – ask a lawyer or 10
re: the trustee’s qc deed. They can’t do that imo. A f/c sale is a quiet title action as I’ve opined a couple times (homeowner is loser) at least as to a dot, and since a qc deed doesn’t necessarily quiet title, they aren’t getting the job done by its use.
You gotta be kidding me. I looked at the notice of sale in Davis’ deal.
The trustee says the sale is done without covenant and warranty either expressed or implied. This makes the trustee’s deed a quit claim deed as a matter of fact. This is a horrendous, heinous mass of dog doobage and a further exploitation of the PRIVILEGE of non-judicial foreclosure. If a trustee is not able or willing to convey by deed which warrants good title, he has no business setting the home for sale. Quit claim deeds don’t quiet title. They convey whatever the grantor has – period. What the grantor does not have, the grantor cannot convey. The trustee is acknowledging by these caveats that questions remain which impact good title. The trustee further affirms that he is acting simply because he was given a “Declaration of Default and Demand for Sale” from whoknowswho, but just say it was Deutsche. I have news for that trustee: that doesn’t cut it. He should be getting either an original note with all endorsements or a certified copy as well as the dot and all assignments in addn to an accounting which demonstrates the default. If this trustee doesn’t want the responsiblity, he shouldn’t take the stinking job. What we find, however, is that often the bankster either owns the trustee-outfit or has them under contract, either of which is about as kosher as the bankster having either of those relationship with a judge who is to rule on a foreclosure case.
But really this isn’t news to the trustee. He knows this, wants the money, and is trying to cover his heiny at the expense of both the buyer and the homeowner. But guess what? Imo, these caveats are enough to lead to a duty of inquiry by the purchaser as they are a clue/indication that something is or may be amiss, and imo, that purchaser can never be a good faith purchaser for value.
This is a prime example of how law is eroded. The banksters were
granted by legislation the absolute Privilege of non-j f/c and have taken more than a mile by far. We have to shut this down, whatever it takes. Sometimes, like this time, it’s a bit much to handle, it’s so messed. Just in case anyone doesn’t get why I call non-j the privilege it is, can you name any other contract dispute which may be resolved by one party without litigation and that party gets the prize?
The material at Davis’ link has an interesting discussion of contempt of court isms.
I course, I meant 300M x $1 = 300M, etc. (since I was quoting the original, insane post). The result is the same: 300M x 1M, we’re talking trillions, not a mere 300M.
With that kind of hateful and destructive attitude, it is very easy to predict what will happen. She will lose it all, without exception. She will end up completely deranged and probably under some bridge or locked up somewhere to rot. In the best case scenario, one can imagine that, out of compassion, some doc will heavily drug her and police will remove any weapon from her before she causes serious damages to her family or the community.
In the meantime, she will make sure to keep spewing hate, venom and disinformation and she will be relentless until everyone on this site with a legitimate need for help or a minimum of common sense and dignity has been permanently chased away.
Again, Garfield must like it that way and be, himself, quite self-destructive to allow it to go on for so long. Otherwise he would have put a stop to it long ago.
It once was a decent site. It is now pure trash.
CORRECTION CHRISTINE…..THE FED OWES THE U.S. TAXPAYERS AN INNUMERABLE AMOUNT OF MONEY ACCORDING TO CNBC….
WE THE PEOPLE ARE SICK OF THE INSANE, MANIAC DECEPTIONS & LIES THAT YOU TROLLS ARE POSTING HERE…
THE TRUTH IS……THERE IS NO LEGAL CORRECTION FOR THE FEDS MASSIVE DEFAULT TO THE U.S. TREASURY….AKA.THE ORIGINATION FRAUD….AND THERE IS NO MONETARY CORRECTION FOR A QUADRILLION DOLLARS IN WALL STREET DERIVATIVES FRAUD EXCEPT FOR THESE CROOKS TO PAY THEIR OWN BILLS AND GO TO PRISON FOR LIFE.
You can shove their QUADRILLION DOLLAR debt fraud Christine. WE THE PEOPLE who know the truth can’t be fooled. You are one of the few troll imbeciles here who just can’t believe you can’t sell your garbage lies here anymore. You trolls can’t lie your way out of a paper bag anymore, that’s your problem.
The truth is undeniable …THIS IS THE BIGGEST ROBBERY OF THE WEALTH & PROPERTY OF THE AMERICAN PEOPLE IN U.S. HISTORY…….CNBC REPORTED LAST WEEK….THESE MANIACS HAVE STOLEN $60.4 TRILLION DOLLARS FROM THE AMERICAN PEOPLE SINCE THE OBAMANATION TOOK OFFICE……TOTAL VALUE OF ALL U.S. PROPERTY MASSIVELY OVERLEVERAGED BY THESE CROOKS BEFORE THEY DESTROYED THE FREE MARKETS……….$12 TRILLION…….TOTAL VALUE TODAY…..WHATEVER THE VULTURES WILL PAY…..
THEREFORE IT IS YOU TROLLS WHO CAN’T DO BASIC MATH AND IT IS ALL OF YOU TROLLS WHO HAD BETTER SIT DOWN AND SHUT THE HELL UP…BECAUSE WE KNOW WHO YOU ARE BY THE LIES YOU TELL…
Yep. Garfield likes what has happened to his site and the insanity posted here, the complete ignorance of absolute science (math) or the simple lack of the most elementary common sense with every le3vel of craziness in between.
“simple math….300 million x 1 million = $300 million…..clear title to all costs them ZERO……”
Counter-information at its best.
No one corrected it, not even Garfield. 300 x $1 = $300M
300 x $10 = $3B
300 x $100 = $30B etc. etc.
The imbecile of service is talking trillions to be given by “the government” to the Natural born US citizens (whatever that means).
Garfield is definitely part of the problem. His site. Her knows what goes on here. By not stopping it, he obviously condones it. Despicable.
……..and my comment below is precisely the reason WHY these crooks WHO ARE THE VATICAN/JESUIT/ZIONIST/WORLD BANK ESTABLISHMENT books are cooked….they owe a QUADRILLION DOLLARS IN DERIVATIVES FRAUD DEBT & IT WAS INTENDED TO DESTROY US……THESE CROOKS & TRAITORS HAVE INNUMERABLE WEALTH HIDDEN OVERSEAS……CNBC REPORTED IN THE YEAR 1999….THE YEAR GLASS STEAGALL WAS REPEALED WALL STREET MADE $60 TRILLION DOLLARS SELLING DERIVATIVES ……AND THESE MANIACS STOLE $60.4 TRILLION MORE FROM US SINCE OBAMA TOOK OFFICE REPORTED CNBC…..AND 20 MILLION U.S. PROPERTIES BACKED BY ZERO……TOTAL VALUE OF ALL U.S. PROPERTY BECAUSE OF WHAT THESE CROOKS DID ……. A BIG FAT ZERO….
The same rule applies for credit card debt. These credit card vipers attach themselves to fraudclosures as Plaintiffs. That is fraud too. They have no standing in regards to real property and debt collection. They are deceptive bank whores too, trying to intimidate people into filing bankruptcy so they can write off their fraud they committed in our names. Screw them…let’s audit them too. Unsecured debt collection in regards to property is criminal. These bank slugs don’t pay for anything….same banking scam as with our property. Credit is just a big bank scam to rob us of our wealth under the guise of money lending so these crooks can pocket our payments and overissue investments (COMMIT FRAUD) …..in our names, with our signatures…..WITHOUT OUR KNOWLEDGE ……IT IS A BIG CON GAME by our Crony Capitalist Globalist enemies to make us believe they own everything and everyone……WELL THEY DON’T ….BECAUSE THEY DON’T PAY FOR ANYTHING….THESE WHORES SHOULD NOT BE ALLOWED TO GARNISH ANYONES WAGES FOR UNSECURED DEBT BECAUSE THEY DON’T PAY FOR ANYTHING AND THEY POCKET ALL OF OUR PAYMENTS AS USURY….DEMAND THEY BE AUDITED & AUDIT THE TREASURY..SAME WITH THE CAR COMPANIES & THEIR FINANCE COMPANIES & ALL THESE CORPS…..WHO HOLD TITLES TO CARS THEY NEVER PAID FOR…..THEY ARE CORPORATE SCUMBAG CROOKS….!WE THE PEOPLE PAY FOR EVERYTHING FOR THIS SCUMBAG GLOBALIST CORP…
IN THE CNBC DOCUMENTARY HOUSE OF CARDS AN EX STOCKBROKER SAID WALL STREET SOLD INVESTMENTS IN ANYTHING WITH A REVENUE FLOW AND EVEN THINGS WITHOUT A REVENUE FLOW….FILTHY, DIRTBAG, ROBBERBARONS FOR THE RICH, CRIMINAL, LYING, DECEITFUL, FELONIOUS, MANIPULAITIVE SCUM…THAT’S ALL THEY ARE.
…..and arrest them. Stop participating, cooperating and complying with fraud. Under all of the laws of this land, third party debt collectors not before the court, cannot legally take property or anything from you. Fraudclosure and these debt fraud collections are the biggest scams in U.S. History.
Neidermeyer
uSCA for 9th circuit
San francisco. cA. ( on appeal from AZ district court civ 09 01587 JAT )
My appeal is under 60b motions
case law cited
The decision will be interesting whrn they rule
Do you have another name for manufactured tyranny and oppression John gault….? Oh yeah that’s right, it’s called DEMOCRACY….
Just finished the video posted below. I agree with Mr. Santilli…..let’s all expose these creeps.
Here’s a fraudster servicer or bankster talking. Thank you united states government for my Mercedes and my mers mansion
OK , I see , it’s 9th circus .. CA and such US court…
Deborah Wynn
Is that 9th circuit FL (Orlando) ,, I can’t see that case..
Johngault,
She can’t count, as evidenced by the following. What makes you think that she has a clue about the meaning of the words she types? And you know why it is always in all caps? Because that’s the only way she knows of giving herself some importance: beign stupid, ignorant and loud about it. Some people study. Others create something of value. She can’t do either.
E. ToLLe is right: we’d all be better off ignoring that nonsense until she goes away or Garfield kicks her out.
stripes, on January 20, 2013 at 9:30 pm said:
simple math….300 million x 1 million = $300 million…..clear title to all costs them ZERO……
Mr Davies
I have an important question to ask you if i may.
Djw4zen@gmail.com
Im awaiting 9th circuit decision.
Wynn v callan et al. I had to motion fir the 9 th circuit to declare hsbc as a party. talk about a pokrr face, You might take a look Case 12- 16192
Not like your case but you willl understand the mentality. Watch the decisions, that observation may help you and your council.
That is what this is John gault….communism …a very reputable attorney told me this and what they want is TOTALITARIANISM….COMLETE COMMUNISM.
Stripes – please give up the purposely incendiary and fear-mongering use of the word ‘communism’. First of all, the Cold War is really cold at this date (so your use is ineffective of its desired goal), and you clearly misunderstand the premises of communism to boot. If we’re in a war, and I don’t say we’re not, it’s a very warm one against people whose interests are totally inapposite to those espoused by communism.
C sells the notes and dots to the trust by way of an article 9 sale and assignment agreement to be further evidenced by endorsement on the notes, individual written assignments of the coll instruments, and, critically, delivery of all these documents to the trustee or his custodian. This is where MERS says that it would ease the problem of getting the “final certification”, which I take to mean a certification coming out of the secn trust trustee that the loans have been transferred and delivered as described above. If I got this certification business right, and I admittedly had to guess, not readily finding info in support, it puts the secn trustee on a very hot seat. This would normally require all those written assgts of the coll instrument to be executed if not recorded (a to recordation, remember that all these loan contracts witht the borrowers must cmply with all laws must complyand handed over to the trustee. MERS says it solves this time problem – because it takes time to execute, record, and deliver all those assgts- and during that time, the cost of money changes constantly, which is or may be very problematic for these players.
So how can it be that by the use of MERS, the members ever meant to comply with the contractual provisions governing these deals? It can’t, since they clearly meant to skip assignments of the coll docs along the way to the trust. The only way to avoid this conclusion at all is if MERS acts for A to C, but not for C to D, D being the trust. That requires executed assignments to the trust (“in recordable form”) to be delivered to the trustee or his custodian (and accepted imo), which as we know, didn’t happen: the MERS program willfully, intentionally, and by design avoided the agreements made by its members. Further, there is never any evidence submitted which would demonstrate that A – C were all MERS’ members. If any of them weren’t, going by the membership agreement (but not the dot), “MERS” aka member employee of the last MERS-member noteowner should have executed an assgt of the dot to the non-member and the loan should have been removed from the MERS database.
MERS says by way of its membership rules that it will act as nominal ben, eliminating the need for assgts as long as the assgt is to a MERS’ member. But that’s not what the dot says, so already we have a conflict not resolved by a court looking only at the dot. For one thing and one thing only, only the borrower signs the dot and the borrower isn’t the party who can determine for whom MERS’ acts, and a borrower is certainly not the party who, by his signature, may appt an agent for another party, just as I can’t make anyone your agent.
The dot says MERS shall be the nominal ben for the lender “and its successors and or assigns”; the dot recites no restriction to MERS’ members. Therefore, looking only at the language in the dot, MERS will act as nominal ben for anyone, member or not, assuming the absence of the lender’s signature on the dot is not itself fatal to this appt (I believe it is), which is addressed in exactly NO litigation of which I’m aware.
Since some of the people in the note’s chain (A thru C) are or could have been non-members, which rules?, (And by the way, anyone asking for evidence A thru C were MERS’ members? Not that I know of) The membership agreement (but not the dot) says assignments are to be executed and recorded when the beneficial interest in a loan is held by a non-member. The point is as to MERS’ members, the dot is not the only governing document to be considered when determining rights and relationships. But the fact that only the dot gives Notice of any of this – by recordation – is problematic, as is the fact that it’s the only document to which courts look in determining rights and relationships. And even so, looking only at the dot, I don’t get how a court may determine that an agency has been created when the principal’s autograph is not to be found on the doc which is alleged to create the agency. Courts are saying, then, that the agency is created by implication, which imo is baloney since any agency regarding real property must be in writing attested by the party appointing the agent.
Recap: MERS m.o. by design meant its members would not comply with the PSA’s requirement (and their agreement) for written assignments. No agency may be found as a matter of law by reference to the collateral instrument.
Normally, there would be a remedy for people who didn’t get assignments of the coll instruments because at least in equity, anyone who buys a secured note has a right to an assgt of its collateral. This means B and C are entitled to assgts from A and B. The problem is that D, who would normally be entitled to an assgt after that from C, is governed by trust law, including cut-off dates and the fact that members contractually agreed to execute assgts to the trust by a time certain and didn’t.
Deutsche Bank ordered to answer Order to show cause for violating a 9th circuit court’s order. Full filing.
http://www.scribd.com/doc/121524746/Order-to-Show-Cause-Against-Deutsche-Bank-National-Trust-Company
I like what you said. I’ll keep those words with me as I fight my Foreclosure. The bank doesn’t have not one document and the judges oking everything
I suggest WE THE PEOPLE all stop cooperating and walk out of this sham called Democracy until Liberty is restored. WE THE PEOPLE have to defend our own legal rights as individuals to our property as Natural Born U.S. CITIZENS..
The friends of Angelo are all friends of the Black Nobility….they might not even know it. All their perps think about is the money they are pocketing and other perks. They may not even know what they are doing is helping to create Complete Communism in America or who they are working for are Complete Communists control freaks. The hierarchy like Obama, Geithner, Bernanke, Hillary, Rahm Emanuel, Holder know this these perps are working for these crooks, that is why these crooks are not going to prison. If anyone does go to prison for financial fraud, they are simply scapegoats and diversions from the real crooks who are hiding in plain sight. The so called “good guys”….. who are in reality, no good at all…are still somewhat deceptive but, are becoming more emboldened and really don’t care if WE THE PEOPLE know they are IMPOSTERS and Communist Dictators working for a foreign corp..who are now, quite openly operating on U.S. SOIL.
What do we do about most of these judge’s and united states government that so deeply involved in this massive hiest
Joe…..this is not free market capitalism…where everyone has a fair shot to be free and independent….NO…..THIS IS Crony Capitalism by Communists…THE FREE MARKETS HAVE BEEN MONOPOLIZED AND HIJACKED BY CRONY CAPITALIST HOGS……THEY USED OUR WEALTH AND OUR HARD LABOR TO DO IT AND THEY HIDE BEHIND THE CORPORATE LOGO AND POSE AS TRUSTED NAMES…..THEY ARE COMMUNIST CROOKS….WOLVES IN SHEEPS CLOTHES….I REJECT THEM….THEY ARE A FOREIGN CORP OF COMMUNISTS…THEY ARE IMPOSTERS.
You missed some good parts when they showed how alot of guys from Congress where on a list called the friends of Angelo. The former ceo of country wide. They got all discounts on there home loans
From behind the scenes the civil rights movement was a scam to steal everyones rights. One African American woman recently remarked, the first black president in history is trying to destroy all of my rights. She failed to see the symbolism in the black and white President. Black is white and white is black with the Black Nobility. Obama very deceptively represents all of that. He is our first openly communist president. What he & his cohorts and minions really want is TOTALITARIANISM. They want everyone complying, conforming and cooperating and if you don’t, they will force draconian fascist measures to force your participation. MAKE NO MISTAKE…FORCED COMPLIANCE IS TOTALITARIANISM … COMPLETE COMMUNISM….Obamacare and the recent tax hikes and the $60.4 trillion in bailouts … all the fraudclosures …the gun laws, all fascism by control fraud. It is controlled communism to create Complete Communism….it is ALL Unconstitutional & therefore ILLEGAL…
The name of the show is called capitalism a true love story
Everybody check it Michael Moore is spilling the beans on the fraudster usa shit government and the little fag banksters. On channel called current tv. Channel 192 here in new york the state where all the fraudster judges are and all the bank scammers are
MLK was a civil rights leader who may have knowingly or unknowingly lead America directly into fraudulently induced hell.
Organized crime wears many disguises and social justice is a very clever ruse….it is social engineering by sociopaths ordered by psychopaths under the guise of doing “something good.”
It is never good, it is a very deceptive ruse to create a “NEW NORMAL”….It is not normal…it is another communist methodology ….it is the long and winding road to TOTALITARIANISM …
This ceremony being held today on MLK day is certainly no coincidence. I don’t know much about the man’s associations and affiliations. One thing is clear, whether MLK knew it or not, he was working for these crooks.
What a joke…! As if WE THE PEOPLE don’t know there is a Communist dictator and an imposter being sworn in as President of a Foreign Corp in D.C…. I could care less if there are 700,000 idiots there to watch this sham called Democracy. It is no more than an embarrassment and a psy op, and a complete insult to 230 million Americans intelligence.
C-section out of what…? No matter, no one believes your stupidity that you thought you could outsmart the smartest people on the planet…WE THE PEOPLE.
Hopefully these victims are seeking justice on their own behalfs from these behemoth crooks and are filing appeals and demanding compensatory damages and other equitable relief for harm done. Don’t fear them….that is Liberty.
C-section USA born need not apply…
Such a level of stupidity is astounding.
The truth is Christine, the level of intelligence is surreal…you crooks never thought you would get caught trying to steal our Constitutional Republic.
THE TRUTH IS….These are FRAUDCLOSURES….THEY ARE CRIMINAL THEFT…STEALING…FELONIES….THESE FRAUDCLOSURES ARE BEING GOVERNED BY LEGAL THEORIES SUCH AS….CORPUS JURIS SECUNDUM, COMITY (CRONYISM), THE RULE OF JUDICIAL NOTICE…NONE OF THAT IS BASED IN LAW OR FACT….IT IS COLOR OF LAW…AND IT IS CRIMINAL, FELONIOUS AND ILLEGAL UNDER THE LAWS OF THIS LAND.
THEREFORE CHRISTINE….DON’T TELL ME YOU ARE A NATURAL BORN U.S. CITIZEN FIGHTING FRAUDCLOSURE ….YOU BLEW YOUR COVER LONG AGO…LIKE THE FIRST TIME I READ ONE OF YOUR COMMENTS….HOW MUCH ARE THE ROTHSCHILDS/JESUITS PAYING YOU TO SPREAD YOUR SOCIAL JUSTICE COMMIE PROPAGANDA …..? BELIEVE ME…ITS NOT ENOUGH….THERE IS NO HONOR AMONG THESE THEIVES….& IF AMERICA GOES….SO GOES THE WORLD. THERE WILL BE NO FREEDOM NOR LIBERTY IN ANY NATION ON EARTH.
That level of ignorance and stupidity is simply surreal…
This is a very close knit conspiracy because it was well planned and well engineered by the crooks at the top. The 8 largesse illuminati banking sheisters whose names never appear as a party to these crimes against us….names like the Aldobrandinis, the Borjas/the Greys who hide behind the scenes of their crimes….AKA …….THE BLACK NOBILITY….their Rothschild and Vatican/Jesuit perps have all the money they need to try and overthrow our Constitutional Republic. Their perps are placed in every level of their fraudulently induced Government. You will know them by the lies they tell. They may tell you many truths to sell you one big lie. Shove the U.S. CONSTITUTION in their face, the SUPREME LAW OF THIS LAND IN THEIR FACES and they show their true colors…..they are ALL FOREIGN IMPOSTERS. READ YOUR U.S. CONSTITUTION …. & MEMORIZE IT..THEY HATE THAT…It is like you are performing an excorcism of demons when you invoke your powers against them. They either will run & hide, try to ignore it, become viscious or try and substitute fraud for it…don’t fall for it.
When the value of a stock certicate or a bond never really existed because of a massive default on the U.S. TREASURY by the FED…THE ISSUER OF THAT INITIAL BOND OR CERTICATE SHOULD BE IN PRISON FOR SECURITIES FRAUD…..Now the FED are repurchasing not only the same fraud but selling investments that are worthless. What they are really selling investments in is a TOTALITARIAN NATION OF RENTERS SCAM……These Crony Capitalist Globalist Communists who have hijacked America are the great deceivers of mankind. America..STOP cooperating and participating with massive Criminal Fraud by this Foreign Corp that calls itself the U.S. Government. They are not. They are IMPOSTERS…every last one of them…
I don’t know about anyone else, but I can’t keep that inauguration on for 20 seconds. It literally makes my skin crawl to watch that sham they call democracy. How dare they try and think they are fooling anyone. He might be the President of that Foreign Corp but, he is certainly not the President of our Constitutional Republic. They all need to be told to cease and desist and get the hell out of America. There is a place for them in other lands but, not here. Not in my America, the freeist nation on earth.
Here we go again….back down the rabbit holes…What tranche is their fraud hidden in .. ? What’s the relationship between the crooks? No one cares. We have all been down every rabbit hole imaginable and the truth is….you come up with more questions than answers. Why? They dumped all of their criminal fraud in a global black pool….that hopelessly intertwined GLOBALIST COMMUNIST B.S…..I found by pure accident? I don’t know how but, some how HSBC holds their criminal fraud they committed in my name. No matter…they are all commie pervert scumbag crooks and they can shove it all…I will never pay them another fasces dime for their crimes against me.
They are having a big broohaha for the dictator today…..Take a glimpse at all the traitors there. They all make me sick..As far as I am concerned, they are not Americans and that is not America…That is a foreign Government putting their dictator into power. I am not a citizen of that foreign Corp. They all need to be disseised from our land. They are the foreign enemy dressed like Americans. Not to many are fooled. It is a sad day in the greatest nation on earth. Sad they believe they conquered our freedom and liberty with Secrets, Lies, Deceit & Fraud. Well they didn’t. They are just lousy cowards who don’t own anything and they certainly don’t own us. They are a bunch of sick, perverted, psychopathic mind control freaks and they all got caught…time for WE THE PEOPLE to walk out and stop participating in this sham called Democracy that is in reality a Totalitarian dictatorship in disguise.
Poppy…bank fraud is one felony…They committed countless felonies..
3 FELONIES = LIFE IN PRISON..
i know its a cluster but my need to understand may take the rest of my life…
the bain of my life this lawsuit
i have this delicious thought inspired by tresspass
” why dont you just stop” wish i could
MS
like JG questions there re stock purchase
isnt this the carrots into carrot juice situation never to become whole carrots again (capitation)
@Poppy…Thanks for the reply…I fully understand your mass confusion on the past history you have to deal with concerning your foreclosure…I had to really stop and think how does a crook think in order to know where to start on my daughters foreclosure…and the only place to start looking was the horrible pile of papers she had…nothing signed or dated..nothing made any sense..all papers from title co and bank were horrible…no closing statements…so I pulled the original mortgage papers from WF (2002) and saw typed in Fannie/Freddie..In 2003 they refinanced the loan with WAMU…and from there I started to feel and think like a crook. At this point she had not been served yet…I saw it on the docket..so we hired an attorney recommended…what a mistake that was…she did shit..so she was gone real fast…and we went to an attorney that was well known and he has been a blessing…..as it stands I feel they are cornered…. a hearing is coming up soon.. and their motions have been denied….but I have alot crammed in my brain and hundreds of hours on this and will fight this…I don’t plan to give them a free home…
I said:
*Jr tranche buyers didn’t buy mtg backed securities any more than I bought Pepsi-backed securities if they stand to lose their investment.”
fwiw, I should have said if they can lose their investment before any loss is known after a foreclosure sale and the re-sale (assuming any investors see a dime of those proceeds).
Maybe, likely even, half-a$$, but it’s prob now or never:
MS – what is the legally cognizable / defined relationship between a trust, a trustee and those who purchased bonds? What is the relationship between the bondholders and the party from whom they purchased those rights to receivables on mortgage loans 1) with and 2) without guarantees, which was not the trust – or was it? (I assume you know to a certainty)
If Pension Fund X purchased junior tranches with real dollars, what does it mean to a note as a debt instrument that one who paid for an interest in the note (*but did they?) may not only not ever see a dime of return, but that the money they paid for their interests may itself be toast, as it’s my understanding can happen? (Is that correct?) In other words, at least one class of bond holder has NO recourse and / so its contribution toward the alleged purchase of the notes is not a purchase of the notes at all. They bought ‘junior’ stock. If they bought jr stock, all the sr tranche buyers are merely sr stock holders with interests in the milk but not the cow. I’m not sure the cow is still a cow.
*Jr tranche buyers didn’t buy mtg backed securities any more than I bought Pepsi-backed securities if they stand to lose their investment. They have no more recourse than I would if Pepsi went under, way I get it. I sure could be wrong, why I’m asking. So what does that say about the notes if they secure nothing, or even if they only secure rights of senior tranche buyers?
Junior tranche buyers either didn’t buy mbs’s as we commonly perceive mbs’s (and then mbs is just a nice-sounding sales-tool, which is what I think generally, anyway) and the note is still owned by someone other than the trust, if anyone. If jr tranche holders are at risk of loss of investment, how can the trusts purport to enforce notes by way of the investors’ purchase of mbs’s aka stock from another party? What? Are the jr tranche holders who’ve bitten the dust now “sold-out jr tranche holders”, akin to sold-out jr lien holders (second mtg holders who are toast when a sr lienholder, succinctly, forecloses)?
Remember these words….When the Government fears the people that is Liberty….When the people fear the Government that is tyranny. Don’t allow it America…..! Invoke your Constitutional Rights…people fear standing up to these tyrants…YOU are not a rebel unless YOU stand up for YOUR legal rights. Peaceful protests are great if you are standing up for your right to be free. That is Liberty. Concealed carry…that is Liberty….The freedom to speak out publicly about political corruption, greed, tyranny and oppression by the Politicians…..that is Liberty ..To demand answers to why WE THE PEOPLE are being ignored…WHY HAVE THERE BEEN NO AUDITS OF THE TREASURY..OR TBTF..why are WE THE PEOPLE. being oppressed by massive bank & Wall Street Fraud….INSOLVENT INSTITUTIONS….? WHY HAVE WE GIVEN THE FED $60.4 TRILLION DOLLARS WITH NO AUDITS.. ? WE THE PEOPLE THEREFORE demand a redress of grievances or we are walking out…..that is Liberty. Why are WE THE PEOPLE BEING FORCED TO PAY FOREIGN BANK HOLDING COMPANIES WHO LENT US NO MONEY, OUR HARD EARNED MONEY..THAT IS A DECLARATION OF WAR ON WE THE PEOPLE…..THE POLITICIANS ARE BANKRUPTING THE PEOPLE…..WHY ARE WE NOT WALKING OUT & DEMANDING ANSWERS UNTIL The RULE OF LAW IS BEING UPHELD in regards to our stolen wealth and property rights…? that is Liberty.
NEW CFPB DIRECTOR REMARKS THAT CURRENTLY 10 MILLION HOMES ARE AT RISK OF FORECLOSURE!!
http://www.scribd.com/doc/121434458/CFPB-DIRECTOR-RICHARD-CORDRAY-SAYS-CURRENTLY-AS-MANY-AS-10-MILLION-HOMES-ARE-AT-RISK-OF-FORECLOSURE-JAN-2013
Good Lord … perfection of title….? There is no legal way to perfect that title to them without our brand new wet ink signature. No way….no how. Be smart…..don’t sign or agree to anything..
That dictators inauguration is nothing to celebrate……it is a disgrace. While he destroys our wealth, economy and tries to take away all of our rights with color of law theories and our right to bear arms against the criminal element who is out to steal everything from us, he continues to mentally strip us of our dignity and wants to mentally steal all of our rights to defend ourselves. Don’t believe these crooks for a minute.
@ukg – okay, but it’s really just one more case where a court found without evidentiary support of any kind that MERS is someone’s agent.
Taking the language of the dot, MERS is a nominal beneficiary, not an agent. Even if a court found the plain language of the dot makes MERS an agent (gag), reliance is necessarily on this plain language recited therein: MERS agency is clearly a LIMITED AGENCY. There is nothing which grants MERS a right to assign coll (or any) instruments on behalf of its (alleged) principal. Further, any decision which does not confront and consider the way MERS operates (if mers is an agent, than the principal acts in the name of its agent) is just not a real rendering of the law. imo. How farcical that courts are adjudicating a matter 1) without consideration of all relevant facts (part of this we can lay off to homeowners’ lack of demand for that consideration and 2) apparently without regard for the basis for MERS’ Consent Order. You know, a couple years ago I opined that MERS’ members are out of control and that may be closer to the truth than even I thought. MERS created a legally untenable and imo unconscionable program. It may in truth be that MERS recognized this as a fact and wanting to nip what exposure it could, was ITSELF at the heart of, behind, the Consent Order which resulted in no more homes snarfed in MERS’ name. Arnold may have had good reason for disappearing, if you get my drift.
Did MERS’ mucks, like Arnold, know when they came up with the MERS system that members were going to short-cut the transfers of notes, making the use of their system for collateral instruments and f/c’s all the more dicey or at least dicey because of circumstances which they didn’t see coming (the note “short – cuts”)?
Some within the organization may have, and apparently have, wanted to continue the status quo, the only difference now being that assgts are done in MERS’ name, instead of the foreclosures being done in MERS’ name. Unless Arnold or someone else talks or an investigative journalist or a Nancy Drew finds out, we may never know what we need to know about that Consent Order. MERS has maybe reduced its exposure (wrongful foreclosure) by limiting its principals ! (if its an agent) to executing assgts in its name. I say maybe reduced its exposure because MERS still allows the use of its name to do an act for which, in a nutshell, there is and can be no diligence by MERS since all entries are self-interest, voluntary entries made by others. (Remember, MERS, as evidenced by its own disclaimer, doesn’t even stand by those entries – entries which allegedly and unbelievably form the basis for assignments and foreclosure actions.)
You are wrong MS…I am not talking to a computer….I am talking to the American people and these words I speak that you call programmed codewords are meant to ALERT THE PEOPLE…these are words any freedom loving American would take as a call to arms and that is exactly what this is and has been since 9/11…the day these crony capitalist communist thug dictators declared this war on the American people. The road began being paved the day these crooks fraudulently instituted the FEDERAL RESERVE BANK, the 16 th amendment, F.D.R and his communist social “safety nets” and assassinated J.F.K….it was all the long and winding road to totalitarianism.
JG
Bottom line – absolute perfection of title
If mers is so great being designed without the borrowers rights in mind being that banking industry decided to replace a system that was legal and had inbuilt integrity, why is it such a struggle to know beyond a shadow of doibt who is the real party with right to issue a satisfsction of the mortgage MERS therefore must be acvountible for the downside when electing to ecopy notes
The record has to be there- no breaks no excuses otherwise the enote may Later turn out to be in the hand of a theif or worse still
theiths. In my case a federal judge helped them out and quieted title , despite material facts to be tried and so discovery shut down ( though a bit more to it) and outside of the law and denying my due process – this same judge later ststes when denying oppodition SJ on the appraisal neg misrep states That the two most important things to a mortgage losn transaction 1. Appraisal 2. Clear title this is in direct conflict of his prior ruling quietiing title based on the most flimsy evidence and a challenged trustees deed upon sale.
so new “owners “living in my home, id say nope, not much protection under the law.
The truth is….. our enemies have the technology to destroy us and we have the technology to destroy them. So, who is fooling who…? They are all fooling us. No threat exists if the threat is equal. The only threat that exists to the strongest military in the world is the traitors from within. That is their dirty little secret. If these politicians weren’t traitors this would have never happened. The capability exists to eradicate this evil for good. The only thing standing in our way are the traitors from within…They all need to be arrested. These crooks just inaugurated themselves the most evil and deceptive dictator of all time. The people need to wake up and walk out.
It’s all b.s. John gault…..they are making up things to cover up for their crimes. Everything they tell us is a nice sounding word for FASCISM which will lead to TOTALITARIANISM …..Whether its called a refinance…a loan mod…tax increases…….inflation/deflation……gun laws……it is all fascism …..it will lead to complete control by dictators…..look on the back of the dime…there is the symbol of the fasces….the Roman symbol for fascism.
The level of whose ignorance is surreal Christine….? Do you think I don’t know this is RE SOCIALISM OF INSOLVENT DEBT THAT WILL CREATE COMPLETE COMMUNISM….? Do you just believe the lies they tell you or are YOU the teller of the lies ……? No matter, this financial crisis was completely manufactured and CNBC certainly didn’t lie when they said these maniacs have stolen $60.4 trillion dollars from the U.S. TAXPAYERS since Obama took office…..when the entire value of the property at the time their “crisis” began was $12 TRILLION…NOW WORTH WHATEVER THE VULTURES WILL PAY…
Remember when the cover of TIME or was it NEWSWEEK….no matter….declared we are “ALL SOCIALISTS NOW”…WITH OBAMA DRESSED LIKE F.D.R. DRIVING IN THE BIG LONG LIMOUSINE ..?
They are LIARS….What it should have said was…”WE ARE ALL RE-SOCIALISTS NOW”….OR BE REALLY TRUTHFUL AND SAID “WE ARE ALL BEING CONTROLLED BY COMMUNISTS NOW” & had Obama dressed as STALIN with a HITLER MUSTACHE driving the big long limousine.
If they tell you they promise to end all wars & poverty…you will know they conquered us. You will be living under totalitarianism….and no one will be free anywhere. Everyone will be equal ….. no one will be wealthy or own anything of value….only the 1% self appointed dictators will.
If that’s the world you want…..GLOBALIZATION….which is a nice sounding word for TOTALITARIANISM ….I pity you because you are brainwashed….a mind controlled slave and you have no soul…at all.
That level of ignorance and stupidity is simply surreal…
simple math….300 million x 1 million = $300 million…..clear title to all costs them ZERO……
Some more bad case law in MERS’ favor…….
Reston, Virginia – January 09, 2012 – (RealEstateRama) — MERSCORP Holdings, Inc. today announced that the United States Bankruptcy Appellate Panel of the Tenth Circuit held that Mortgage Electronic Registration Systems, Inc. (MERS) is a mortgagee in its capacity as nominee for the lender and its successors and assigns, that there is nothing impermissible in this arrangement and that “[a]t all times, the Note and Mortgage were united.”
In the case, In re Trierweiler, the Panel’s decision, written by U.S. Bankruptcy Judge Dale L. Somers of the District of Kansas and joined by Chief Judge William T. Thurman of the District of Utah and Judge Elizabeth E. Grown of the District of Colorado, rejected the Trustee’s notion that MERS’ involvement in the transaction rendered the mortgage unenforceable and the Note unsecured and affirmed a decision rendered by the U.S. Bankruptcy Court for the District of Wyoming.
“The Trustee has pointed to no Wyoming authority that prohibits the loan originator from agreeing to have someone other than the beneficial owner of the debt hold the mortgage and enforce the debt as its agent,” Judge Somers wrote. “We conclude that there is no split between the Note and Mortgage arising from MERS being named as Mortgagee….” The Trustee has appealed the decision to the U.S. Court of Appeals for the Tenth Circuit.
“We are pleased that the Appellate Court Panel affirmed the bankruptcy court’s decision,” MERSCORP Holdings Director of Communications, Jason Lobo, said. “As this decision and the cases to which it cites demonstrate, the ‘split-the-note’ theory has failed time and again.”
300m X 1m = surely is not $300 million.
Sometimes I think you guys are way smarter than I am. But then you usually prove to me that your not and just posting BS. I do thank you for that , as it keeps me from getting lazy and thinking others know what they are doing or can/will help me.
I like Mr. Santilli…thanks for the video…I will listen to it later tonight.
guest…..that would be a mighty fine start…however, the FED and their entire mark of the beast system needs to be abolished. We need to restore the rule of law and moral order. This is all getting way out of hand. The sad thing is millions of Americans are worshipping the mark of the beast and they don’t even know it.
Stripes:
I think you probably mean this $43 trillion lawsuit:
http://www.supremelaw.org/cc/abeel/COMPLAINT.pdf
Episode #251 – CNBC Exec’s Children Murdered; 1 Day After CNBC Reports $43 trillion:
OUR HOUSE IS A FRAUDULENTLY INDUCED DICTATORSHIP…WE ARE BEING TOLD WHAT TO BELIEVE, WHAT TO DO AND WHAT IS GOOD FOR US AND WE ARE BEING FORCED TO COMPLY BY DECEPTION……THAT IS CRIMINAL….THAT IS TOTALITARIANISM ….COMPLETE COMMUNISM…
THE FED IS IMMORAL…UNCONSTITUTIONAL AND THEREFORE ILLEGAL…THE POLITICIANS ….THE FED….THEIR CENTRAL BANKS ….AND WALL STREET CORP HAVE TURNED OUR CONSTITUTIONAL REPUBLIC INTO A FRAUDULENTLY INDUCED DICTATORSHIP CALLED DEMOCRACY…..THESE CROOKS HAVE VERY DECEPTIVELY TURNED OUR HOUSE……THE PEOPLES HOUSE….THE UNITED STATES OF AMERICA INTO A DISGRACE….OUR HOUSE IS NOT WHAT IT APPEARS……OUR HOUSE IS NOW A HOUSE OF SECRETS, LIES, FRAUD AND DECEIT….NONE OF THAT HAS ANY VALUE…TIME FOR WE THE PEOPLE TO WALK OUT OF THEIR SHAM THEY CALL DEMOCRACY AND RESTORE OUR CONSTITUTIONAL REPUBLIC…..
CNBC REPORTED THE FED MANIACS HAVE STOLEN $60.4 TRILLION DOLLARS FROM U.S. TAXPAYERS SINCE 2008…..THE VALUE OF ALL U.S. PROPERTY……ZERO…..OR WHATEVER THE VULTURES WILL PAY FOR IT…
HOW DO WE TAKE CARE OF A LIMBO LOAN…?…MAKE THE FED PAY THE TREASURY BACK FOR THE ORIGINATION FRAUD….ABOLISH THE FED…. THE TREASURY THEN WILL ISSUE EVERY AMERICAN A CHECK FOR A MILLION DOLLARS IN USURY FRAUD….GIVE CLEAR TITLE TO EVERY AMERICAN AND RETURN ALL STOLEN PROPERTY OR IF THE PROPERTY IS DESTROYED WRITE THE HARMED PARTY A CHECK FOR EQUITABLE RELIEF…THEN THE VULTURES WILL FLEE…CRISIS SOLVED..
And what did Mr. Hultman mean when he said MERS provides the eRegistry which would provide liquidity for electronic notes? And what is an eRegistry? Time’s up: it’s a system of record to identify the current Controller and location / custodian of the Authoritative copy of an e-note. What does the Controller have that no one else is supposed to have? Bzzt. time’s up again: the (alleged one and only) Key for the Authoritative copy. Were all paper notes destroyed in favor of “electronic versions with (alleged) Auth copies and Keys? Are we seeing paper reproductions of electronic versions of notes in courts and elsewhere? Under the UCC, is a paper reproduction of an enote authorized and if so, must a party disclose that the note being presented is just that – a paper copy of an enote? If a note isn’t factually an enote with electronic signature because it’s factually a scanned copy of a paper note, does this make the previous question moot?
If MERS meant for its members to all create enotes with esignatures at some point in time (or even if not), did the members JUMP THE GUN and move the notes, if at all, by their electronic (in this case scanned) v paper form? If notes were moved by electronic (or even paper) transmission of information which (simply) identified the notes with requisite particularity, was this movement an Article 9 Sale and Assignment? If the paper notes weren’t in fact destroyed, if the answer to the previous question is yes, what does it mean to alleged bearer notes that the paper notes weren’t actually endorsed and delivered? And what does it mean to the note if its only transfer is by way of a book entry? Still enforceable by any yeahoo claiming possession of a bearer note? (64 gazillion dollar question, admittedly) Is this what’s going on? I’d say yes, at least mostly, and that’s why (take 15) they are using the assgt of the coll instrument to “assign” the note, also. Another indication is that (take 10 again), an assgt of the coll instrument isn’t what gets paid for. What gets paid for is the note, and these assgts all recite consideration.
I can’t help saying this again: the assgt of the note in an assgt of the coll instrument is either a false instrument or they are just now assigning notes to the secn trust and trying to use MERS (as if) to do so to boot. Now if RICO attorney No. 892 says he represents the trust which (allegedly) has possession of the note, why is the assgt of the note in the dot assgt necessary? In other words, why do they bother – if possession is the bar? Doesn’t this suggest that possession is NOT the bar? If poss is not the bar, notwithstanding actual transfer issues, why would that be? The reason which readily comes to mind is that these aren’t negotiable instruments reg’d by Art 3’s bearer or any art 3 provisions.
Who cares if you can’t prove it, right? So we need to prove it. If we’re short of actual proof, then still should assert facts which sufficiently support reasonable inquiry by way of discovery. GC had thought she was going to get some discovery and asked (I thought she did, anyway – do NOT bite my head off, G. I’m already probably going to get plastered by MS and stripes, both of whose bs odious distractions I’m sick enough of to so say) where she should be looking. I would ask first of all for the location of all
electronically created and or stored information (more particularly identified?) regarding the transfers of interest in the note, including all accounting. In production, I would ask for those records, verified by a party whose autograph meets the strict standards actually encompassed by the FRE’s. I would ask for all information on the MERS’ computer system from day 1, day 1 defined probably as the day the loan or borrower’s named first appeared in that database.
They’ll prob say some bull like it’s proprietary, so have to keep that in mind and be ready and able to overcome that objection, remembering that depending on the objection, the material sought to be protected must yet be identified.
lay opinions – ask a lawyer and ask a lawyer why we’re not doing any electronic discovery or making any inroads to get it because imo that’s where the truth is to be found. That and the UCC.
Christine….If you are just simply fighting fraudclosure than why are you spreading all this commie mumbo jumbo….like commie fixes for fraud are Liberty & Justice….? Or this peoples trust crap…commie crapola…..
WE THE PEOPLE WANT OUR CONSTITUTIONAL REPUBLIC RESTORED….OUR STOLEN WEALTH & PROPERTY RETURNED & THE FED AND ALL THEIR DEBT ABOLISHED…OUR OWN CURRENCY ISSUED…..CNBC REPORTED THE FED HAS STOLEN $60.4 TRILLION IN OUR WEALTH SINCE 2008…..WE THE PEOPLE WANT NO MORE ROTHSCHILD MANUFACTURED SOCIAL JUSTICE FIXES FOR OUR ROBBERY….THAT WILL CREATE VATICAN/JESUIT TOTALITARIANISM .
…..WE THE PEOPLE WANT THE LAWS OF THIS LAND UPHELD AND THE CRIMINALS ALL HELD TO ACCOUNT.
Obama could stop this ongoing destruction by auditing the Treasury…shutting the FED down…&…..seizing our stolen wealth and assets…..and writing every American a big fat check for damages..for a million dollars x 300 million americans….$300 million in U.S. BANK NOTES is a small price to pay for saving the country…and giving everyone clear title. Then the vultures will flee and the crisis is over…
MERS said its certifying officer were to be “elected”., a word I find legally and factually inconsistant with “designated as such for a payment of 20 – 25.00 to MERS”. MERS said these officers were to be dual officers of MERS and the member. See any conflict at all? MERS said these dual officers were to assign loans, release “liens”, and prosecute foreclosures in the name of MERS. How can a party with no interest in the note, the debt, “assign loans”? Why do YOU think “MERS” includes an assgt of the note in each assgt of the collateral instrument, which if taken as fact, is a post-cutoff sale and assignment of the loan to X, generally the trustee of some trust?
And what did MERS mean when it said this:
“MERS eliminates the most common reason for failure to
obtain final certification for loans in CMBS pool.”
starting with “final certification”?
I’m personally so glad MS is here as I have questions I’m hopeful someone with his pedigree can answer.
In a 2006 book, author Mike Stathis warned that FNMA and FHLMC
had racked up close to 2 trillion in debt. Assuming Mr. Stathis’ statement is founded on good research, how is this so if both agencies routinely securitized the loans they bought (i.e., they got their money back which they had paid aggregators for the loans)? What 2 trillion in debt, and to whom? Stripes says discovery will get us zero, essentially. Whether you agree or not, what should be asked for which might change this? Why is possession of an allegedly negotiable instrument not dispositive of a party’s right to enforce? What’s missing, if anything? And stripes, you say that discovery is no more than an opportunity for the banksters to tell more tall tales. 1) What factually might we find if
the banksters were to respond truthfully to discovery, including
handing over their electronic accounting entries and other records?
2) If actual electronic entries were tendered, from whom would we find
the wire to title to fund loans and what is the source of your answer?
3) where did the answer to no. 2 get its funds?
What do either of you think MERS meant when it said in 2000 that its mission was to “establish and advance BOOK ENTRY of mortgage rights”? Or how about when MERS said its system “was inspired by the Depository Trust Company”?
Amen to that Deborah! Nobody! Absalutly Nobody should be left in Limbo while they try to cover their Butts! We need to be set Free and they need Jailed! I know we will never recover our losses but at least we should get the satisfaction of seeing them Prosecuted to the Full Extent of the Law!
poppy
like you im not sure there are any good options but jailing a few of those schiasters that ruined millions of lives would be a start- the rule of the real law would be a good start
Bankruptcy can take care of a unsecured Limbo Loan but it can not fix the Zombie Title! You have to have a QT to fix the Zombie Title! But how do you fix a Limbo Loan outside BK?
To me, this is unsustainable…just how and when will this implode, is the question?
there has to be a symbiotic existence between mans natural law and governments intervention and finance, the wheel must turn- history shows us this
Maher Soliman,
Answering your puzzling 10:35…
I don’t ask for anything from anyone and especially not money. No idea where you got that from since I am a homeowner fighting her own battle and, like everyone here, trying to make sense of this national charade.
That being said, anytime I try to find positive feedback on internet, such as “Maher Soliman helped me save my house” or any such info, all i can find is “Ripoff, ripoff, ripoff” and it goes on for page after page. Compare that with feedback on players such as Barnes, Stopa, Gardner or others (and yes, I do realize that you are not an attorney but still), it seems to me that there is a lot of smoke coming from your direction. Which could only mean fires. To read that one of us was taken, right here, for $1,000 is even more troubling.
So, do i trust the info you post here? No. Have you gotten to the point where you need to come clean or prove yourself? You bet! What is even more troubling to me is when the heavy lifters with confirmed court wins on behalf of their clients very seriously advise against spending $$$ in what they qualify as “costly and worthless forensic reports anyone can perform on his own”.
In December 2011, Regie Gerolaga posted here that he was working to expose the fraud “with the help of an expert, Maher Soliman” and had a hearing before the judge a few days later in NJ. He never came back to let us know how it went. We would expect winners to post here, especially if, indeed, they came across a really top notch expert. Common sense.
So, we draw our conclusions absent anything from you to the contrary, other than self-serving boasting without substance. Again, common sense.
Control is the big issue…they are looking to get censorship of the Internet, guns, real property, education, etc…they have more money than they could spend in a lifetime. This is the scariest time in my life. Everything I believed in, is a lie and our country is “what” now, a token body of people? To be used, disposed of and broken…WoW…how will this all end, is the big question? What we will NEED to do to stop this calculated loss of freedom and decency?
2 kindsa people stripes,
rational and irrational, the need to control and have insatiable need to is why the enemy needs power- purely to control, they harness the mechanisms to secure that. the thing i came to understand and which is being demonstrated in all our struggles with this seizure of our property( being an extension of self), is that when so much time and effort has gone into getting that control- do you really think they will give it up easily. this is my fear.
i never thought this fight would be easy but neither did i know what i now know when i started.
BONDS WERE ISSUED ON CREDIT THAT NEVER EXISTED…THE VALUE OF THOSE BONDS AND OTHER INVESTMENTS WAS DESTROYED BY MASSIVE BANK FRAUD BY THE BANKS & WALL STREET…. THE FED & WALL STREET INTENDED TO DESTROY THE VALUE OF THE CREDIT BY THE ORIGINATION FRAUD AND OVERISSUING INVESTMENTS …
That’s because Wall Street destroyed the value of everything by overissuing investments in things that don’t exist. The Issuer of the original bill of credit …..THE FED VIA THEIR BANKS never owned anything…..THE ONLY COLLATERAL THEY HAD WAS OUR SIGNATURES WHICH THEY FORGED AND COUNTERFEITED GAZILLIONS OF TIMES…THE FEDS BOOKS ARE COOKED…THEIR BALANCE SHEETS ARE INSOLVENT…IT IS ALL HIDDEN ON THEIR ELECTRONIC BALANCE SHEETS THAT NEVER GET AUDITED….AUDIT THE TREASURY ALL THE WAY BACK TO 1982….THE FED ROBBED US BY MANY PROXIES.
what a test case mine would be if an investor isolated my loan- BUT MY LOAN WAS UNQUALIFIED – however bonds were issed
holy moly today,
and somefew told me appraisal negligent misrep will not fly.. well to be honest i got close but the ol due process wasnt allowed least at that time. but.is it not the platform- the booked value- maher told me that 3 years ago. my home “value” plumetted like a lead ballon in about 18 months- lost over 400k- four hundred thousand USD ! plus my improvements bla bla- never in history have we seen such a drop, and ofcourse all those who bought in 2007- same story,
and boy has the court system messed with me ever since. never in history have we seen this,
why is it so hard for the borrower- because its supposed to be.
Believe it…..these people do practice Santeria and they have crystal balls….They are psychopaths and they practice evil and they believe practicing strange rituals on us and black magic empowers them. It is all trickery because in reality….the only power they wield is in their warped minds and they warp ours by concealing their evil and labeling it something good…it’s not…..it is talmudic satanism…the most evil form of satanism on the planet and is being fraudulently induced under many guises but make no mistake it is total mind control to create totalitarianism ….complete control of our mind bodies & souls….from cradle to grave……
These scumbags treat us like cattle and it is all being taught to be accepted as normal…..IT IS NOT NORMAL…IT IS CRIMINAL. THEY TELL YOU EVERYTHING THEY ARE DOING IS FOR THE SAKE OF OUR OWN PEACE & SECURITY WHILE THEY STEAL EVERYTHING FROM YOU UNDER THE GUISES OF SECURITY….DEBT & HEALTHCARE. WHAT THEY ARE REALLY DOING IS FORCING YOU TO ACCEPT TOTALITARIANISM AS A FIX FOR MASSIVE CRIMINAL FRAUD & THEY DON’T GIVE A DAMN ABOUT YOU…..YOUR FAMILY….OR WHAT YOU WORKED YOUR WHOLE LIFE FOR….THEY WANT TO STEAL IT ALL FROM YOU IN EXCHANGE FOR TOTALITARIANISM ….AKA……THE NEW NORMAL…
Not AIG or anyone can pay off the debt Wall Street created in your name….without your knowledge. The Seller is selling fraud to investors because of the ORIGINATION FRAUD……BY THE ISSUER OF THE ORIGINAL BILL OF CREDIT…..WANT PROOF…? THE FBI TOLD ME TO CALL THE ORIGINATOR AND ASK THEM FOR THE ORIGINAL WET INK NOTE & MORTGAGE FROM THE ORIGINAL PURCHASE…..THE ORIGINATOR WILL TELL YOU THEY DON’T HAVE ANY WAY OF KNOWING WHERE THAT IS……THAT IS FRAUD BY DECEPTION AND THAT IS CRIMINAL…
@ Poppy re: 09:50 post
Same situation here ,, I think the collections were bought by the attorney that supposedly represents “WF as trustee” … in my case it’s documented in lawsuit exhibits that AIG paid off my tranch in full in 2007/8 and my loan number was sold to AHMSI as a write off deep discount no colatteral collections account.. I wish I had a way to force the info out of opposing counsel … re: who’s writing the checks for this suit.. ,, I had “force placed” insurance via AHMSI .. lucky for me .. my dog bit someone (very minor but it was a Korean guy who hates dogs) ,, and that’s getting me some info ,, now that line item for insurance appears to have never actually been bought! I love being broke ,, it’s so freeing! The fraud NEVER ends….
ALL OF OUR PAYMENTS & ALL OF OUR WEALTH IS BEING STOLEN AND HIDDEN OFFSHORE….THAT IS WHY OUR NATION IS CRUMBLING…..THE AMERICAN PEOPLE ARE PAYING THESE CROOKS TO DESTROY US…
IT IS NOTHING MORE THAN A WARPED, PSYCHOTROPIC MIND WAR GAME…IT IS IMPRISONMENT OF YOUR MIND BY CRONY CAPITALIST COMMUNIST MIND CONTROL FREAKS WHO WANT TO MAKE YOU BELIEVE LIES ….AND IF YOU DON’T BELIEVE THEIR LIES THEY WILL FORCE THEIR FRAUD ON YOU BY THINGS LIKE PROGRESSIVE TAXATION….RE ESTABLISHING INSOLVENT DEBT…..RESOCIALISM…AND OBAMACARE….IT IS ALL DRACONIAN FASCISM….COMMUNISM IN DISGUISE AND IT IS MEANT TO ENSLAVE YOUR MIND BODY & SOUL TO EVIL FOR ETERNITY….
Yes MS…..this was all done by electronic fraud…..that is where the fraud is all hidden and their evil RFID CHIP comes into play….you can go to the hospital e-mergency room and see what they are planning…they scan your wristband with the same scanner they scan groceries with at the grocery store and your drivers license …credit/debit card…..they consider the people their commodities that they own…they consider us their slaves and it was all fraudulently induced by e commerce….a sham and a fraud….a cover up for their evil TOTALITARIAN ENDGAME PLAN OF COMPLETE CONTROL…..IT IS EVIL & IT IS A FRAUD….IT IS NO MORE THAN A WAPED, CRIMINAL PSYCHOTROPIC MIND CONTROL WAR GAME.
@ ms
I have a different type of relationship with my attorney (advises me a lot, for a lesser fees). He may very well contact you, but like everything, you just never know. I will sure try and convince him, all information is valuable, use it or not, the price is yours to pay.
The only background you need in this poppy is understanding what this is really all about. Stealing our freedom by stealing our liberty…these are the lawless ones. These agents of evil, these CRONY CAPITALIST COMMUNISTS…want to microchip us to a quadrillion dollars in criminal fraud….STEAL EVERYTHING FROM YOU AND RENDER EVERYONE A SLAVE TO THEIR FRAUD….IT IS AN EVIL SCAM CALLED TOTALITARIANISM….WE THE PEOPLE HAVE TO REJECT IT & ALL OF ITS EVIL WORKS….COMMUNIST FIXES FOR FRAUD LIKE RESOCIALISM OF INSOLVENT DEBT…SURRENDERING OUR PROPERTY AND WEALTH FOR DEBT THAT WE CAN NEVER REPAY…BUT THESE CRIMINALS CAN REPAY BUT WON’T .. BECAUSE THIS WAS A WELL PLANNED….WELL ORCHESTRATED COMMUNIST PLOT..TO STEAL OUR WEALTH, LIVELIHOODS, PROPERTY AND FREEDOM….THESE CRONY CAPITALIST COMMUNISTS ARE HOARDING EVERYTHING AND HOLDING OUR WEALTH HOSTAGE AND FORCING US TO PAY BY HIDDEN FASCISM..
WE THE PEOPLE ARE THE ONLY ENTITY WHO CAN RESTORE THE RULE OF LAW….OUR FREEDOM & LIBERTY ARE HANGING IN THE BALANCE THE BALANCE OF THIS COMMUNIST…TOTALITARIAN SCAM….
Chris
You have my email – I will not charge you anything if your attorney will consider the testimony . He needs to call me though . You and I can only chat.
Your best case is where the opposition capitulates and settles out of court . Judge and everyone likes that resolution . The terns of the settlement will keep both attorneys busy …so no argument here the attorneys are only in it for the fees.
My gut tells me –
He wont do i t ….
Check out your 1098 for 2012. Everything is zero on the one we just recieved. Silly Buttwipes! He has a Good Tax Attorney, and a Good Cival Attorney!
THE DEAL STRUCTURE
CRIMINAL FRAUD
What does that mean – Computerized tracking system
This is exactly why the FRC is forced to purchase 40 billion per month in MBS – nobody else will!
Brilliance – but cannot last.
NOTE Circa 1933 . / A strange phenomena hearkens back to the great depression. The value of the Railroads inventory has been restored. But the shareholder value is held locked away in trust Pricing is so depressed and from a prolonged devaluation at 10 cents on the dollar.
How do I know – Read the PSA …. So if the markets wont take the deal of a life time – – the Fed will.
Who it be a foreclosing on you Bubba.
Your loan was never in default . You never had to make a payment for the deal to survive . Its the robust condition that failed the registrants (a/k/a/ Ponzi or Pyramid scheme)
Hey Ethyl.
Yeah Fred –
– How much higher will this railroad stock go up.
– They cant build anymore routes and to make earnings estimates they would have to carry a full train every hour
. . . from one side of the country to the other . . . .
……every 10 minutes !…..and at a fare hike not yet approved
This railroad stock is trading at ten times the earnings and that is on a good day
-Goodnight Fred
THE DEAL STRUCTURE IS CRIMINAL FRAUD MS….
MS….THE FED HAS NO EQUITY BECAUSE THEY DON’T PAY FOR ANYTHING…THE ONLY COLLATERAL THE FED HOLDS IS OUR SIGNATURES WHICH THE FORGE AND COUNTRFEIT HUNDREDS OF TIMES PER NOTE & MORTGAGE AND THAT DESTROYS THEIR ORIGINAL BILL OF CREDIT…….THAT IS FRAUD & DECEPTIVE PRACTICES ON STEROIDS……THAT IS WHY THE UCC STATES CLEARLY…..INVESTMENT IS NOT OWNERSHIP …….INDORSEMENT OR INSTRUCTION DOES NOT GUARANTEE A SECURITY ENTITLEMENT …..
THE FACT THE FED SELLS US CREDIT SLIPS AND OVER ISSUES INVESTMENTS IN CREDIT SLIPS IS DECEPTIVE CRIMINAL FRAUD…
I am not a bone head ms…uniformed and it was offered to me, I never asked for it. Just because I do not have a background in this, doesn’t make me the village idiot. Stop That!
I, like many of us, are doing the very best I can and you know it. We are close in the system, as a matter of fact the judge has not given the attorney his requested SJ (so far) been since October 2012 and that is a big deal. The judge has set the case for trial. So far, so good, but we need to be better, to beat them. And I appreciate your input…’cause as I said, the information, even paying attorneys is not easy to acquire.
FYI: in my own area of expertise I have done very, very well… this area is way out of my education. Thanks, Chris
Oh MS… Your Hot Today! Hot! Hot! Hot! I like It .. keep releasing all that pent up steam. Your on a Roll!
I am also Catholic and massively ashamed of the deception the Church markets and sells under the guise of “religious principles” when in fact, most of the clergy have none. The priests & nuns don’t marry…? Didn’t God say be fruitful and multiply….? How do people who never marry tell all of us to live our lives when they are in direct violation of Gods founding principles…?
The Catholic Church has innumerable wealth yet they do not tend to the poor or cure the sick…NO….they disguise themselves behind names like Goldman Sachs and Bank of America who are all members of the World Bank the Vatican controls by many proxies like the $600 trillion dollar Rothschilds and the Central Banks around the world.
The Vatican….the Roman Empire are all theory, not based in law or fact such as, CORPUS JURIS SECUNDUM & THE CODEX ALIMNENTIRUS…..THE VATICAN ARE THE JESUITS WHO ARE COMMUNISTS AND THE ROTHSCHILDS WHO ARE SOCIALISTS AND THEY ARE THE HIDDEN HAND BEHIND ALL OF THE LAWLESSNESS, DEATH AND DESTRUCTION IN THE WORLD BY MANY PROXIES…LIKE THE ILLUMINATI …THEY HIJACK EVERYTHING BY INFILTRATION BY NAMES YOU CAN “TRUST”… THEY ARE COMMUNISTS…AGENTS OF EVIL …NO MATTER IF YOU CALL THEM..SATANISTS…COMMUNISTS…FALLEN ONES…THEY ARE THE SYNAGOGUE OF SATAN….THE SOS…THEY ARE EVIL BEYOND MOST PEOPLES PERCEPTION BECAUSE THEY HAVE DUMBED DOWN THE MASSES IN MANY WAYS AND INDOCTRINATED MILLIONS OF VICTIMS INTO THEIR CULT….
I believe only by the Grace of a higher power, greater than this evil, the truth is being revealed about this scam to steal our freedom and liberty. I believe the time is short to reject this evil and all of its evil works before the final judgement. Only the higher power knows the day and the hour of that but the signs are apparent to those who want to see them. The wake up call is in the number…666…the beasts monetary system that is the microchip hidden in OBAMACARE….IT IS AN ABOMINATION AGAINST OUR FREE WILL…..THE RED DRAGON OF COMMUNISM HAS BEEN FRAUDULENTLY INDUCED UNDER MANY GUISES…….The final battle for souls is at hand…TOTALITARIANISM IS NEAR…..The fraudulent inducement of this evil massive unsustainable debt and the microchip.
WE THE PEOPLE must reject TOTALITARIANISM and all of its COMMUNIST FIXES FOR MASSIVE CRIMINAL FRAUD…Restore the rule of law and our founding principals that are enumerated in THE U.S. CONSTITUTION.
Peace – Im done
(Lets see what Neil publishes this week as his mater piece …..Putzz
Yes Excellent – Here it is …
(Damn it , Yes !)
The cost of an entity’s own equity instruments that it has reacquired (‘treasury shares’) is deducted from equity. Gain or loss is not recognised on the purchase, sale, issue, or cancellation of treasury shares. Treasury shares may be acquired and held by the entity or by other members of the consolidated group. Consideration paid or received is recognised directly in equity. [IAS 32.33]
Offsetting
Poppy …
QWR and ask for a modification.
Are you informed and read on the deal structure with respect to culpability and standing ?
Who made the loan at time of settlement ______________
Who Wired the funds ABA routing numbers ____________
Who is listed in public records as the Transferee ___________
The registrant not the “Seller” (PSA ) __Y/N____
Where did the seller Deposit proceeds from sale ____
Those proceeds collateralize a obligation (true) ____
The obligation is for unencumbered securities _____
Common shares were posted as $ 0.00 Price / P S ____
Debt is to buy back stock held under FDIC Securities financing_____
The REPO for common shares is the repayment ______
Repayment then is a future instrumentality or forward devise_____
Two note as alleged are in fact the counter parties transferring of accountability under separate agreements, correct ?_______
(1) Accrual – the note
(2) Accretion – sinking fund
Mortgages status – liquidated
Yield Retirements – Bond by maturity date
Yield Requirements – Short term – by Obligor (reimbursable)
Foreclosure – by GAAP trigger for recognition under a M&A or consolidation Substance of the contractual arrangements rather than legal form governs the classification by the issuer of a financial instrument. The critical feature in identifying a liability is the existence of an obligation READ – Get it . It is to cash out or to exchange another instrument under conditions that are potentially unfavorable to the issuer. NOT Borrowers!
Both the liability and equity components of compound instruments are accounted for separately. This is complicated for the foreclosure to occur w/ respect to Derivatives on current existing shares where they contain a right or an obligation to settle on a net basis in cash or shares or where they may be settled by delivery of a variable number of own shares.
Modifications – Please – No way . Cannot exist ! Maybe if allowed under a dual tracking method allowing for a prolonged abstention under some other term or maturity for a revolving M-T-M short term Treasury or other commercial paper .
And here is the deal killer—
Recognition – Where some moron or bone head elects to send out a QWR and then ask for a modification.
You all have a nice day …..
Bro! I’ve never been better!
Instruments: Presentation
IAS 32 — Financial Instruments: Presentation
Overview
IAS 32 Financial Instruments: Presentation outlines the accounting requirements for the presentation of financial instruments, particularly as to the classification of such instruments into financial assets, financial liabilities and equity instruments. The standard also provide guidance on the classification of related interest, dividends and gains/losses, and when financial assets and financial liabilities can be offset.
IAS 32 was reissued in December 2003 and applies to annual periods beginning on or after 1 January 2005.
History of IAS 32
September 1991 Exposure Draft E40 Financial Instruments
January 1994 E40 was modified and re-exposed as Exposure Draft E48 Financial Instruments
June 1995 The disclosure and presentation portion of E48 was adopted as IAS 32 Financial Instruments: Disclosure and Presentation
1 January 1996 Effective date of IAS 32 (1995)
December 1998 IAS 32 was revised by IAS 39, effective 1 January 2001
17 December 2003 Revised version of IAS 32 issued by the IASB
1 January 2005 Effective date of IAS 32 (2003)
18 August 2005 Disclosure provisions of IAS 32 are replaced by IFRS 7 Financial Instruments: Disclosures effective 1 January 2007. Title of IAS 32 changed to Financial Instruments: Presentation
22 June 2006 Exposure Draft of proposed amendments relating to Puttable Instruments and Obligations Arising on Liquidation
14 February 2008 IAS 32 amended for Puttable Instruments and Obligations Arising on Liquidation
1 January 2009 Effective date of amendments for puttable instruments and obligations arising on liquidation
6 August 2009 Exposure Draft Classification of Rights Issues proposing to amend IAS 32
8 October 2009 Amendment to IAS 32 about Classification of Rights Issues
1 February 2010 Effective date of the October 2009 amendment
16 December 2011 Offsetting Financial Assets and Financial Liabilities (Amendments to IAS 32) issued
17 May 2012 Amendments resulting from Annual Improvements 2009-2011 Cycle (tax effect of equity distributions). Click for More Information
1 January 2013 Effective date of May 2012 amendments (Annual Improvements 2009-2011 Cycle)
1 January 2014 Effective date of December 2011 amendments
Related Interpretations
IAS 32 (2003) superseded SIC 5 Classification of Financial Instruments – Contingent Settlement Provisions
IAS 32 (2003) superseded SIC 16 Share Capital – Reacquired Own Equity Instruments (Treasury Shares)
IAS 32 (2003) superseded SIC 17 Equity – Costs of an Equity Transaction
IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments
Amendments under consideration by the IASB
Financial Instruments with Characteristics of Equity (Liabilities and Equity)
Summary of IAS 32
Objective of IAS 32
The stated objective of IAS 32 is to establish principles for presenting financial instruments as liabilities or equity and for offsetting financial assets and liabilities. [IAS 32.1]
IAS 32 addresses this in a number of ways:
clarifying the classification of a financial instrument issued by an entity as a liability or as equity
prescribing the accounting for treasury shares (an entity’s own repurchased shares)
prescribing strict conditions under which assets and liabilities may be offset in the balance sheet
IAS 32 is a companion to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 9 Financial Instruments. IAS 39 deals with, among other things, initial recognition of financial assets and liabilities, measurement subsequent to initial recognition, impairment, derecognition, and hedge accounting. IAS 39 is progressively being replaced by IFRS 9 as the IASB completes the various phases of its financial instruments project.
Scope
IAS 32 applies in presenting and disclosing information about all types of financial instruments with the following exceptions: [IAS 32.4]
interests in subsidiaries, associates and joint ventures that are accounted for under IAS 27 Consolidated and Separate Financial Statements, IAS 28 Investments in Associates or IAS 31 Interests in Joint Ventures (or, for annual periods beginning on or after 1 January 2013, IFRS 10 Consolidated Financial Statements, IAS 27 Separate Financial Statements and IAS 28 Investments in Associates and Joint Ventures). However, IAS 32 applies to all derivatives on interests in subsidiaries, associates, or joint ventures.
employers’ rights and obligations under employee benefit plans (see IAS 19 Employee Benefits)
insurance contracts(see IFRS 4 Insurance Contracts). However, IAS 32 applies to derivatives that are embedded in insurance contracts if they are required to be accounted separately by IAS 39
financial instruments that are within the scope of IFRS 4 because they contain a discretionary participation feature are only exempt from applying paragraphs 15-32 and AG25-35 (analysing debt and equity components) but are subject to all other IAS 32 requirements
contracts and obligations under share-based payment transactions (see IFRS 2 Share-based Payment) with the following exceptions:
this standard applies to contracts within the scope of IAS 32.8-10 (see below)
paragraphs 33-34 apply when accounting for treasury shares purchased, sold, issued or cancelled by employee share option plans or similar arrangements
IAS 32 applies to those contracts to buy or sell a non-financial item that can be settled net in cash or another financial instrument, except for contracts that were entered into and continue to be held for the purpose of the receipt or delivery of a non-financial item in accordance with the entity’s expected purchase, sale or usage requirements. [IAS 32.8]
Key definitions [IAS 32.11]
Financial instrument: a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
Financial asset: any asset that is:
cash
an equity instrument of another entity
a contractual right
to receive cash or another financial asset from another entity; or
to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or
a contract that will or may be settled in the entity’s own equity instruments and is:
a non-derivative for which the entity is or may be obliged to receive a variable number of the entity’s own equity instruments
a derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include instruments that are themselves contracts for the future receipt or delivery of the entity’s own equity instruments
puttable instruments classified as equity or certain liabilities arising on liquidation classified by IAS 32 as equity instruments
Financial liability: any liability that is:
a contractual obligation:
to deliver cash or another financial asset to another entity; or
to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or
a contract that will or may be settled in the entity’s own equity instruments and is
a non-derivative for which the entity is or may be obliged to deliver a variable number of the entity’s own equity instruments or
a derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include: instruments that are themselves contracts for the future receipt or delivery of the entity’s own equity instruments; puttable instruments classified as equity or certain liabilities arising on liquidation classified by IAS 32 as equity instruments
Equity instrument: Any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities.
Fair value: the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.
The definition of financial instrument used in IAS 32 is the same as that in IAS 39.
Puttable instrument: a financial instrument that gives the holder the right to put the instrument back to the issuer for cash or another financial asset or is automatically put back to the issuer on occurrence of an uncertain future event or the death or retirement of the instrument holder.
Classification as liability or equity
The fundamental principle of IAS 32 is that a financial instrument should be classified as either a financial liability or an equity instrument according to the substance of the contract, not its legal form, and the definitions of financial liability and equity instrument. Two exceptions from this principle are certain puttable instruments meeting specific criteria and certain obligations arising on liquidation (see below). The entity must make the decision at the time the instrument is initially recognised. The classification is not subsequently changed based on changed circumstances. [IAS 32.15]
A financial instrument is an equity instrument only if (a) the instrument includes no contractual obligation to deliver cash or another financial asset to another entity and (b) if the instrument will or may be settled in the issuer’s own equity instruments, it is either:
a non-derivative that includes no contractual obligation for the issuer to deliver a variable number of its own equity instruments; or
a derivative that will be settled only by the issuer exchanging a fixed amount of cash or another financial asset for a fixed number of its own equity instruments. [IAS 32.16]
Illustration – preference shares
If an entity issues preference (preferred) shares that pay a fixed rate of dividend and that have a mandatory redemption feature at a future date, the substance is that they are a contractual obligation to deliver cash and, therefore, should be recognised as a liability. [IAS 32.18(a)] In contrast, preference shares that do not have a fixed maturity, and where the issuer does not have a contractual obligation to make any payment are equity. In this example even though both instruments are legally termed preference shares they have different contractual terms and one is a financial liability while the other is equity.
Illustration – issuance of fixed monetary amount of equity instruments
A contractual right or obligation to receive or deliver a number of its own shares or other equity instruments that varies so that the fair value of the entity’s own equity instruments to be received or delivered equals the fixed monetary amount of the contractual right or obligation is a financial liability. [IAS 32.20]
Illustration – one party has a choice over how an instrument is settled
When a derivative financial instrument gives one party a choice over how it is settled (for instance, the issuer or the holder can choose settlement net in cash or by exchanging shares for cash), it is a financial asset or a financial liability unless all of the settlement alternatives would result in it being an equity instrument. [IAS 32.26]
Contingent settlement provisions
If, as a result of contingent settlement provisions, the issuer does not have an unconditional right to avoid settlement by delivery of cash or other financial instrument (or otherwise to settle in a way that it would be a financial liability) the instrument is a financial liability of the issuer, unless:
the contingent settlement provision is not genuine or
the issuer can only be required to settle the obligation in the event of the issuer’s liquidation or
the instrument has all the features and meets the conditions of IAS 32.16A and 16B for puttable instruments [IAS 32.25]
Puttable instruments and obligations arising on liquidation
In February 2008, the IASB amended IAS 32 and IAS 1 Presentation of Financial Statements with respect to the balance sheet classification of puttable financial instruments and obligations arising only on liquidation. As a result of the amendments, some financial instruments that currently meet the definition of a financial liability will be classified as equity because they represent the residual interest in the net assets of the entity. [IAS 32.16A-D]
Classifications of rights issues
In October 2009, the IASB issued an amendment to IAS 32 on the classification of rights issues. For rights issues offered for a fixed amount of foreign currency current practice appears to require such issues to be accounted for as derivative liabilities. The amendment states that if such rights are issued pro rata to an entity’s all existing shareholders in the same class for a fixed amount of currency, they should be classified as equity regardless of the currency in which the exercise price is denominated.
Compound financial instruments
Some financial instruments – sometimes called compound instruments – have both a liability and an equity component from the issuer’s perspective. In that case, IAS 32 requires that the component parts be accounted for and presented separately according to their substance based on the definitions of liability and equity. The split is made at issuance and not revised for subsequent changes in market interest rates, share prices, or other event that changes the likelihood that the conversion option will be exercised. [IAS 32.29-30]
To illustrate, a convertible bond contains two components. One is a financial liability, namely the issuer’s contractual obligation to pay cash, and the other is an equity instrument, namely the holder’s option to convert into common shares. Another example is debt issued with detachable share purchase warrants.
When the initial carrying amount of a compound financial instrument is required to be allocated to its equity and liability components, the equity component is assigned the residual amount after deducting from the fair value of the instrument as a whole the amount separately determined for the liability component. [IAS 32.32]
Interest, dividends, gains, and losses relating to an instrument classified as a liability should be reported in profit or loss. This means that dividend payments on preferred shares classified as liabilities are treated as expenses. On the other hand, distributions (such as dividends) to holders of a financial instrument classified as equity should be charged directly against equity, not against earnings. [IAS 32.35]
Transaction costs of an equity transaction are deducted from equity. Transaction costs related to an issue of a compound financial instrument are allocated to the liability and equity components in proportion to the allocation of proceeds.
Treasury shares
The cost of an entity’s own equity instruments that it has reacquired (‘treasury shares’) is deducted from equity. Gain or loss is not recognised on the purchase, sale, issue, or cancellation of treasury shares. Treasury shares may be acquired and held by the entity or by other members of the consolidated group. Consideration paid or received is recognised directly in equity. [IAS 32.33]
Offsetting
IAS 32 also prescribes rules for the offsetting of financial assets and financial liabilities. It specifies that a financial asset and a financial liability should be offset and the net amount reported when, and only when, an entity: [IAS 32.42]
has a legally enforceable right to set off the amounts; and
intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. [IAS 32.48]
Costs of issuing or reacquiring equity instruments
Costs of issuing or reacquiring equity instruments (other than in a business combination) are accounted for as a deduction from equity, net of any related income tax benefit. [IAS 32.35]
Disclosures
Financial instruments disclosures are in IFRS 7 Financial Instruments: Disclosures, and no longer in IAS 32.
The disclosures relating to treasury shares are in IAS 1 Presentation of Financial Statements and IAS 24 Related Parties for share repurchases from related parties. [IAS 32.34 and 39]
ROGER
GROW UP …YOU TALKING TO A COMPUTER SCREEN . YOUR LOSING IT
HE REST OF US IN THE PRIVATE SECTOR AND GUESS WHAT….? WE ALL GOT ROBBED BY THESE CRONY CAPITALIST COMMUNIST CROOKS…..THEY STOLE AND DESTROYED THE VALUE OF EVERYTHING…
STRIPES – A web service to attack anti bank discussion. Computer that Never says anything of substance
…private sector, robbed, crony , communist, crooks, stole, destroyed ,
YOUR READING FROM A MONITORED CONTRACTOR OR COLLABORATIVE WEB “JAMMER” HIRED TO DISTORT READERS . Some of it is preprinted and timed for sporadic delivery .
@ UKG
Thanks for the heads-up. All these do-gooders somehow always “need” money. I liken it to the church (no offense intended)…but I am Catholic, not practicing, but they always need money to help. Obviously, a lot of players out there cannot manage a BUDGET or do not do anything for the sheer benefit of moral and ethical purposes and the benefit of society.
Transactions generating a business loss in excess of prescribed thresholds are disclosable under IRC rules.Take for example, originators, with respect to sales of receivables, or sales of asset-backed debt or other securities, in each case if the sale generates a significant loss.
The IRS has issued a list of exceptions, including in respect of
losses relating to REMIC residual interests and to certain
‘qualifying basis’ assets.
‘Qualifying basis’ in assets exception does not cover interests in pass-through entities (including grantor trusts, partnerships or LLC’s) nor does the definition of ‘qualifying basis’ cover tax basis in assets
attributable to income accrual. For example , Debt interests attributable to accrued interest, OID or market discount.
Are you hearing me – can you read
Substantial changes to systems processes and documentation are hurting you case – NOT FRAUD Changes to separate chapters addressing scope of the requirements, Debt/equity classification, Initial recognition and classification, Derecognition, Subsequent measurement, Fair values and impairment, Hedge accounting.
Your mortgage is classified as a Debt interest. That is it . Wake the Funk Up . Please , its attributable to accrued interest, OID or market discount are not impacted by Qualifying basis’ in assets .
People are losing homes to a damn stupid debt interest which is conditional and executory I might add. Your editor here is clueless and roger mistakenly labels me what the securities holders own in a account full of commons trust shares The foreclosing agents are receivers contractors, financial agents and specialists who are acting to some extent under “color (badge and authority )
Robo Steak, inter parties endorsements and Notary flakes and Lemon cakes [WTF are you talking about] herein is the advantage to the registrant is an oppressive and vile recovery of assets that leave you Roger, with a 1099 and promise for one last year of debt forgiveness . But I know your a listening “Chin a ling a Ching $$$$”
Your a party to an abusive tax shelters, created the other sides dilemma .. . Or are you a victim ? Are you accepting the tax forgiveness – Your a party chief . The entire recovery gives the IRC broader jurisdiction that will impact US taxpayer participants (including foreign persons engaged in business in the US) in securitisations. To fix this ….You get the 1099 and proclamation for extension of the debt forgiveness provisions for liquidations of depositors account’s
You people waste the courts time and at a cost to the DOJ as your interference with something you Do Not Understand . I believe the DOJ and the Dept of Treasury have had all they can take – in your inability to state a claim …while all the evidence and material is afforded you
Your under rules for transactions made after January
1, 2003.. This mess began on Jan 2001 so I know your listening. Regulations, cause participants falling into one of six categories of ‘ reporting disclose this participation to the IRS on their US federal income tax returns. DISCOVERY – well? Two of the six categories of of transaction for reporting purposes are having a disastrous mpact on re-securitisations.
These are the transactions where the federal tax treatment differs from accounting treatment and certain loss
transactions. Imagine that
Now listed as “Confidential Transactions” they may also come into play, although to a more limited extent than previously, in view of recent IRS guidance qualifying assets , liquidations and to determine the book value Accounting for financial instruments under IFRS is complex.
Look , your pleading a broad overview of the current requirements of IAS 32, Include your analysis of the related ‘Financial instruments: Presentation’, IAS 39, and Recognition and measurement’ used to foreclose ; Refer to the discovery for IFRS 7, ‘Financial instruments:
Disclosures’. (included here are the Domestic to HSBC and Barclays first-time adopters and other entities in territories transitioning to IFRS, these standards change the way they account for financial instruments and will involve substantial changes to systems processes and documentation.
registerclaims@live.com
Hire me as an expert and waste your money. Your not listening…But OF FEW OF US PULLED AWAY AND …see you at the finish line I would wish you luck but you would not know what to do with it
Is that right guest…..? You worked your whole life for stuff ….? Well so did ALL OF THE REST OF US IN THE PRIVATE SECTOR AND GUESS WHAT….? WE ALL GOT ROBBED BY THESE CRONY CAPITALIST COMMUNIST CROOKS…..THEY STOLE AND DESTROYED THE VALUE OF EVERYTHING….YOUR STUFF, MY STUFF & EVERYONES STUFF. SO YOU WANT US TO PAY FOR THEIR CRIMES WITH EVERYTHING WE WORKED OUR ENTIRE LIVES FOR…..AND BE HOMELESS, BROKE, RENTER SLAVES TO MASSIVE FED AND WALL STREET CRIMINAL FRAUD…? OH HELL NO…
HOPELESSLY INTERTWINED …
Some days if feels that way. This Globalization crap is also the demise of good quality jobs, lowering wages, destroying anything American…and it is OUR own government doing it!
Poppy, don’t fall into THAT trap. He was talking to me. We go back a long way. But take it from me, we’re not friends anymore.
“Yes you paid me 200 per year to date. What do you want. Me to compromise my cases I am testifying in and violate the terms of my engagements?”
Are you smoking crack now? You’re not involved in the case, you never did anything. You got my $1000 under the guise of “providing relevant testimony”. You sent me shit. Sorry, I’m not keeping my mouth shut anymore.
But you can keep trying to con people here. I don’t think anyone is dumb enough to send you a dime anymore.
I stated once before: If Maher Soliman is your choice for expert “testimony”, you should have YOUR lawyer contract HIM, and then you can sue his ass for fraud when he doesn’t deliver.
enough said.
There is nothing but felony fraud, forgery and acts of RICO…. You can argue nonsense all day and try to convince people of all the nonsense in the world, you will never convince me, because I know the truth about THIS GLOBALIZATION SCAM……..there are no notes, there are no mortgages and the debt accumulated by these crooks is unsustainable …..it is fraudulently induced slavery. The Origination Fraud is their case killing fatal flaw in every case…. BANKS DON’T LEND MONEY….BANKS LEND CREDIT & THE BANKS SET OUT TO DESTROY THE VALUE OF THAT ORIGINAL BILL OF CREDIT BY NOT PAYING THE TREASURY BACK AND OVERISSUING INVESTMENTS IN THAT ORIGINAL BILL OF CREDIT.
Any subsequent transactions after the Origination Fraud are a nullity…null and void. No matter how many times you refied, everytime you signed another contract it was a fraud and they destroyed the value of your property more and more because they kept overissuing investments in your signature. It was the cover up for the Origination Fraud, the non recordation at the County level and the lack of taking the extra step of securing that lien with Secretary of State…..THE S.O.S….. allowed them to CONCEAL THEIR FRAUD and by operating in this CRIMINAL manner, the FED had no skin in the game …. and their scam was also MASSIVELY overinsured…….WITH NO COLLATERAL BUT OUR SIGNATURES…It wasn’t reckless, it was felonious and pre-meditated……IT WAS DECEPTIVE & IT WAS CRIMINAL….
They can tell you any one in the world is owed YOUR HARD EARNED money….THAT IS A LIE…A MIND GAME …A TRICK TO ENSLAVE YOU FOR LIFE BECAUSE INVESTMENT IS NOT OWNERSHIP AND WALL STREET CREATED A QUADRILLION DOLLARS IN CREDIT DERIVATIVES FRAUD….THE FED NEVER OWNED ANY LOANS….BECAUSE OF THE ORIGINATION FRAUD….THEY OWN NOTHING BUT CREDIT SLIPS AND THE FED DESTROYED THE VALUE OF THOSE CREDIT SLIPS VIA WALL STREET OVERISSUING INVESTMENTS IN CREDIT SLIPS….THE FED AND WALL STREET ARE ALL NO MORE THAN THIRD PARTY DEBT COLLECTORS ON CREDIT SLIPS THEY AND THEIR CRIMINAL FRIENDS ON WALL STREET DESTROYED THE VALUE OF…AND IT WAS INTENTIONAL AND IT WAS NOT ABOUT THE MONEY FOR THE FED SHAREHOLDERS, DIRECTORS & INVESTORS….NO…IT WAS THE SCAM OF GLOBALIZATION….THEY WANT US TO BELIEVE WE ARE ALL, AS HILLARY CLINTON PUT IT, HOPELESSLY INTERTWINED ……
THAT IS ANOTHER BIG & DANGEROUS LIE…BECAUSE IN AMERICA, WE HAVE LAWS THAT PROTECT OUR PROPERTY FROM THAT SCAM….& THE ORIGINATION FRAUD IS THE REAL REASON THE FED OWNS NOTHING AND THEREFORE WALL STREET WAS NOT SELLING ANYTHING BUT A SCAM..
ALL PAYMENTS ARE GOING INTO THE POCKETS OF THIEVES AND THE FED HAS BEEN ALLOWED BY COMMUNIST TRAITORS FROM WITHIN… TO SWITCH POSITIONS TO FIRST LIENHOLDER STATUS…..A BIG LIE & A VERY DECEPTIVE CRIME….AND CLEAN OUT OUR WEALTH AND STEAL OUR PROPERTY….CNBC REPORTED THE FED HAS STOLEN $60.4 TRILLION DOLLARS AND 20 MILLION FRAUDCLOSURES FROM WE THE PEOPLE TO DATE BACKED BY $8 TRILLION IN PROPERTY….AND THE ROBBERY CONTINUES…UNABATED…..
NO ONE SHOULD BE NEGOTIATING WITH THESE FINANCIAL TERRORISTS OR SENDING THESE CROOKS ANYMORE PAYMENTS…
THESE POLITICIANS ARE ALL CROOKS & COMMUNIST SCUMBAGS….
Maher, let me clarify: you conned me out of $1000 for some shit testimony (some of it canned, copied, pasted out of reference books) on paper that was worthless. Money from my disabled daughter she thought would bring some closure to the case. 3 years ago. Get off it. You’re full of shit, man.
I will tell you who I am. I am a person who has been married and work FT her entire life while raising two kids and puttting them thru collage while saving and investing for retirement. I am getting screwed all the way around, as an invester (losing money), as a pensioner (losing money) as a taxpayer (paying more money) and a homeowner getting Extorted by a debt collector for tens of thousands in intrest and fees.
“Yes you paid me 200 per year to date. What do you want. Me to compromise my cases I am testifying in and violate the terms of my engagements. I give as much as I can ….You need to find work man . Your not up to this defense .Why attack me here . Cal me…you of all people”
Who is this directed at?
And I have not seen anyone call you out…if you have the information, how much will it cost to get it?
Thought some of you may like this: a tidbit here, NOTE: Susanne Uhland, a reorganization attorney with, O’Melveny, Meyers in CA New Century bankruptcy, has multiple properties, her’s in Pacific Heights and has various other’s from Recon Trust…listed in her name. Always questioned her testimony and behavior.
(AP) Michigan Supreme Court justice charged with fraud
By ED WHITE
Associated Press
DETROIT
Federal prosecutors have filed a fraud charge against Michigan Supreme Court Justice Diane Hathaway, just a few days before she leaves the state’s highest court in a scandal involving the sale of a Detroit-area home and suspicious steps taken to conceal property in Florida.
The charge was filed Friday as a criminal “information,” which means it was negotiated and that a guilty plea is expected in federal court. Defense attorney Steve Fishman declined to comment Saturday.
Hathaway is resigning Monday, months after a series of questionable real estate transactions first were revealed by a Detroit TV station. Hathaway and her husband, Michael Kingsley, deeded a Florida home to Kingsley’s daughter while trying to negotiate a short sale on a house they couldn’t afford in Grosse Pointe Park.
In a short sale, a bank agrees to a sale that wipes out any remaining mortgage, a significant benefit for any borrower. The 2011 deal went through and erased the couple’s $600,000 debt in Michigan. Five months later, in 2012, the debt-free Windermere, Fla., home worth more than $600,000 went back in their names for $10.
The bank fraud charge says Hathaway made false statements to ING Direct, transferred property to others and failed to disclose available cash _ all in an effort to fool the bank into believing she had a severe financial hardship. Kingsley, also a lawyer, has not been charged.
Hathaway has refused to make any lengthy public comments. She told WXYZ-TV last spring that the property shuffles were a private matter.
The maximum penalty for bank fraud is 30 years in prison, although that would be a rare punishment for anyone and very unlikely for Hathaway. Nonetheless, some time in custody should be expected, predicts former federal prosecutor Lloyd Meyer of Chicago.
“Any bank robber who robs a bank with no gun and just a note goes away to prison. A judge who steals over half a million dollars should enjoy the same fate,” said Meyer, referring to the amount of debt written off after the short sale. “As a former federal prosecutor, it would be unthinkable to have this type of defendant get a slap on the wrist.”
U.S. Attorney Barbara McQuade declined to comment on Hathaway’s possible punishment or other aspects of the case. The case is assigned to U.S. District Judge John Corbett O’Meara in Ann Arbor.
Hathaway, 58, filed retirement papers with the state Dec. 20, but it was not publicly disclosed until Jan. 7 when a state judicial watchdog filed an ethics complaint against her for the real estate transactions, calling them “blatant and brazen” violations of professional conduct as a judge. Her last day as a justice is Monday, although Hathaway has not participated in court business for two weeks and has vacated her offices.
It was no secret Hathaway was under scrutiny by prosecutors. The government filed a lawsuit in November to seize the Florida home as the fruit of bank fraud. The civil case is pending and likely will be consolidated with the criminal case.
Hathaway was halfway through an eight-year term on the court, the result of a major election upset over then-Chief Justice Cliff Taylor in 2008. Her victory put Democrats in control of the court for a two-year period. She was a Wayne County judge before joining the Supreme Court.
Chief Justice Robert Young Jr., a Republican, released a statement, in which he said the scandal diminishes the public’s trust in government. He said Hathaway’s departure and the criminal charge “bring to a close an unhappy, uncharacteristic chapter in the life of this court.”
Republican Gov. Rick Snyder will choose Hathaway’s successor and likely stretch the GOP’s majority to 5-2.
Yes you paid me 200 per year to date. What do you want. Me to compromise my cases I am testifying in and violate the terms of my engagements. I give as much as I can ….You need to find work man . Your not up to this defense .Why attack me here . Cal me…you of all people
Anything, but a FOOL ms…just because you were a party to this, doesn’t make the rest of us fools. Cool your jets. It takes a lot of reading, UNDERSTANDING of what you are reading and learning about this “cluster” of rules, laws and court procedures> very few have the fortitude and heart to continue this very, stressful and jaded process. If all these do-gooders’ were so interested in really helping, why is the information not forthcoming?
maher, put it up here! what’s the problem?
we’ve been friendly for years, but I’m getting to the point where I think you’re full of shit. I know you’re trying to make a living, doing what I don’t know. But quit with the stinking charades and word puzzles and put up some facts.
Happy pill
is a code for this web sites editors narcotics… as he is ailing.
How would you know that word. Who are you with .
Lender threatens sale last Thursday . Sale is postponed 30 Days
CWHL Inc is the lender foreclosing by assignment BofA is the servicing agent
Wrong – no way . Sale was purported stopped and assured of a compromise. My argument is that the party speaking has no authority to stop the sale . their claim and their offer is baseless.
My suggestion was to proceed with the sale if this is a Dept of Justice Civil forfeiture and condemnation for In Rem Proceeding and this request is for arrest warrant issued . This so client can invoke Innocent third forfeiture claims for day request under 18/28 USC in rem civil forfeiture claims by Gov. agency right of hearing .
Party purported to foreclose is requested to forward the arrest warrants and notice to hearing
registerclaims@live.com
Calls coming in from attorneys from God knows where …property went to sale , . Transfer is being held up for sale reversal proposed settlement offer …etc etc …Counsel asks …But how do you know …….
OH MY! Someone has not had her Coffee this morning. Or is it her Happy Pill? LOL …. Do NOT jump in on my conversation with another person unless you know what docs we are talking about! I know they were created after they fact and by who and for what reason! 🙂
I know about the document fraud, …Liar – who are you
NO DOC Fraud if the loan is liquidated into a bond . Fool . Docs are destroyed and as Garfield said – LOST . Not lost to the misplacement’s but lost to the divestiture of the assets
Stop professing ignorant baseless stupidity – or jst get off this site people –
I
And HSBC: I cannot help myself here; drug dealers….does anyone really believe they launder drug and terrorists money, without an intimate relationship with these players?
FOOL SO WHAT – WHAT CAN THAT DO TO HELP YOUR CASE . YOUR LOAN IS LIQUIDATED AND TRANSFERRED INTO TWO DISTINCT CLASSES OF CONTRACT. ONE HELD BACK BY US CONSORTIUM AND THE OTHER SOLD INTO A FOREIGN CENTRAL BANK REPRESENTATIVE. SWAPS – Libor for short term T bill alternative s called private label bond financing
YOU TALK ABOUT IT ENOUGH This is the way to enhance law enforcement responses to mortgage and foreclosure-related crime, in part by empowering the Attorney General to call a grand jury in response to financial crimes spanning multiple jurisdictions and Singapore Banking law is not one of them .
. Additional elements will help communities fight blight related to foreclosure, and provide enhanced protections for tenants in foreclosed homes.
Poppy, I know about the document fraud, I have piles of my own. Its disgraceful these Buttwipes have not been prosecuted! They push you to the brink of insanity with their ongoing Criminal Activity.
“I will post the U/D rescission anywhere you would like. . I get results and can document every one , now a total of 33 wins”
masterservicer:
I’m listening…I will look at anything to decipher what needs to happen. Some of this stuff, well meaning, but I am not seeing it! Help me…I’ll be grateful. The work is daunting for the non-bankers and non-JD’s (even the JD’s are missing it, frankly) …
newenglandblonde@yahoo.com Thanks in advance, I’ll be watching for it.
Requested a QWR and on the ledger the same payment –
NO WRONG – YOU CANNOT GET A QWR UNLESS YOU WANT TO TRIGGER RECOGNITION ….FOOL THERE IS NO SERVICING TRANSFER IN A LIQUIDATION FOOL
Guests – The debt still exists (its unsecured not non existent). The issues are who owns them (and how much is owed), and who is responsible to cover the homeowers actual monatary losses?
Here is the example of a plant or a moron .
DEBT CANNOT EXIST IN THESE STRUCTURED DEALS.NOT IF THE DEBT IS THE CAPITALIZED VALUE OF THE INVESTMENT – MORON
in their battle. We’ve been asking for years. So far, Maher Soliman is another one of the big mouths with no result. “The barking dog is often fangless”.
January To Date
Residence in San Fernando Valley
Foreclosure
U/D filed Jan 8th served Jan 10th posted at 4:00 PM
U/D taken down as of 5:15 PM same day .
I will post the U/D rescission anywhere you would like. . I get results and can document every one , now a total of 33 wins
You keep talking and that’s okay.
Look for my filing in response to the State new Homeowner Bill of rights …
Neil Christine – your asking for money – I am doing my job on the subsidies of others who have their own interests .
Your one twisted and sorrowful person I may add …both of you
You are correct UKG “” is to defeat the monetary claim in Bk court and then go back to state court for the quiet title “” . But why should a homeowner file BK and ruin his Credit for 7yrs because someone made a mistake and refuses to fix it? Why should the homeowner pay for the QT action? Extortionist … What Bullies Grow Up to Be! Yep!
i think the only way, Poppy, is to defeat the monetary claim in Bk court and then go back to state court for the quiet title. We are accusing both HSBC and their law firm, and Wells and their law firm, of racketeering and fraud. FedCirc judge has not resonded to our appeal; going on three months. I think we have them in a corner, my attorney thinks otherwise. counsel is convinced the judiciary will act in any way they can to protect the lawyers and banks. complaints to the AG and the office of professional regulation have gone unanswered.
monkeys that type….i love it, thanks ToLLe, i needed a laugh this morning.
In my case, it doesn’t exist…a zero balance on the ledger too (some, not-so-bright clerk had to mistakenly send it), with tens of thousands of dollars in attorneys fees? Forgot to mention that…we have so much paperwork. It is my belief the attorney, as a debt collector, bought the debt and he is the one tweaking the paperwork to collect. We have a lot of discovery, 2 different court actions. One hand does not know what the other is doing and it has lent itself to some very revealing information. This I mention, is the tip of the iceberg, if you will. The actual paperwork would fill 10 blogs and then some…all contradictory!
The debt still exists (its unsecured not non existent). The issues are who owns them (and how much is owed), and who is responsible to cover the homeowers actual monatary losses? Monatary Losses like QT action to Warranty the Title, and related legal expenses including collection of stolen pre-paid escrow funds to pay illegal fees while duel tracking loans.
@ guest
When in bankruptcy I was offered a mod…from a 30 year fixed @ 6.5% to 1-5 ARM. Stopped paying due to the time running and couldn’t trust them, imagine that? Requested a QWR and on the ledger the same payment was being used from the original mortgage…exact principle and interest ratios, and the rest of the money was unaccounted for.
What I know now, they have no “authority” to modify and the ledger reflects that. Even with court approval, they are fudging the paperwork to make it look legitimate.
Poppy, a loan mod will not fix your title. You need a Court Order to Fix It … there is no way around it. 🙁
And HSBC: I cannot help myself here; drug dealers….does anyone really believe they launder drug and terrorists money, without an intimate relationship with these players?
Let’s face it; they did not run into the Mexican drug cartels at taco bell one day and say, hey man, can you clean up some money for me? Please, they are completely complicit in the running and pushing of drugs throughout this country.
Anyone who thinks otherwise scares me…it just doesn’t happen any other way! And our government allows all of it.
I too, have filed complaints with State Bar of NC, they do nothing, they too, are complicit in the entire mess. As far as I can see; just me, the fix was in a long time ago. They are like one big tribe of bandits, scavengers, lurking around the country looking for the meek, passive and vulnerable. very similar to collusion….the make me think of serial killers, where they look you right in the face and say, not guilty…I wasn’t there, not me, your honor!
Nice…hey UKG, what good is a modification of the non-existent-debt, to buyers of paid note…how does one get a clean title to that? Not toward you, just my comment. HSBC, you are full of $hit!
HSBC to pay $249 million to end foreclosure reviews
London-based HSBC has agreed to pay $249 million to end a case-by-case review of past home foreclosures in the United States.
HSBC Holdings Plc agreed to pay $249 million to end a case-by-case review of past home foreclosures in the United States, bringing the total payout by banks to resolve related issues to $9.3 billion.
London-based HSBC agreed to pay $96 million to eligible borrowers who lost their homes to foreclosure in 2009 and 2010, and provide $153 million in other assistance, including loan modifications and forgiveness.
full story at Reuters
@ Marilyn Abdilla
Oh boy…I have been spouting this for some time and have the paperwork from the previous mortgage, title work, etc…what a mess. Notes being passed from grantor to grantee, same people, same company; VP of the same company as trustee, out of business corporation foreclosing on the previous owners-after death and no record of deaths, both husband and wife died within a year, no probate, substitute servicer with a POA from 1999 assigning DOT to closed company, and then in 2005, which is when MY loan originated (not a refi) have payments from the investor, forced placed insurance (subsidence, mining perils), into 2006 and the date of the ledger is from 1986, when the original homeowners bought the home? Are you kidding me…counselor?
To go to your point: these mortgages were being pushed to sell forward into pools and specifically not securitized properly…for profit and greed. They owe Billions in taxes, mortgage releases and damages to homeowners, and they need to pay back all the insurance money they stole and pay the taxpayers/homeowners back, who have been victimized multiple times.
#1 – Please folks, DO NOT FEED THE TROLL!
#2 – Facts and arguments are a waste of time.
#3 – Arguing with this troll will get you nowhere.
#4 – Don’t lower yourself to her level.
#5 – The only way to beat a troll is to not get involved.
#6 – Short of a site moderator, there is no other way.
#7 – By responding back in ANY form, you are stooping to her level.
#8 – She baits, we respond, we respond, she’s happy.
Also, remember this…. as we can all see, the clandestine CIA program designed to see if monkeys can type has been successful. Stripes/ivent is not only doing well, she has exceeded all expectations for the program. Full results will be released shortly.
I had to mention that, even though I broke most if not all of the rules above. My bad. I couldn’t help myself.
Seriously folks….either 100% ignore stripes/ivent, or send an email to Neil or the site admin from the contact page in the upper left corner.
subject: Troll
To whom it may concern, would you please remove the troll currently named stripes, formerly known as ivent, from Living Lies? She is very disruptive and damaging any possibility of serious foreclosure defense discussion.
Thank you.
stripes is right about the Chapter 13…the first time I did my own Chapter 13 and got to the meeting of creditors, when it was suggested, by the court trustee, I get an attorney. My Chapter was long, as I had more than one property, anyway…got a lawyer and he didn’t finish the schedules, with 10 employees on his staff, go figure…the case was dismissed. He never, ever relayed to me, and he knew, I had 14 days to ask for a reversal of that decision, I found out myself. In the course of the process, my payment was calculated at $8,000.00 per month, OMG. I questioned the lawyer and the trustee multiple times for disclosure of what a payment of that amount would be, as I could never pay that, they would NEVER tell me. (I have never had a mortgage payment over $800.00, putting 25-50% down at any given time). The lawyers know it all, even the non-debt, they say you owe, the forged paperwork, which they manufacture and many of the attorneys are the debt collectors.
After being off all blogs for over a year, that is.. leaving comments..I kept up with reading what others had to say…I find some comments very interesting..others rather disgusting…Some seem to have more than a foreclosure problem..such as a bedroom/sex personal problem..regardless of what they say otherwise about their own sexual convenient usage. Where and why does this topic even call for one to keep repeating ‘ the bedroon act ‘..? OK..if you don’t care to read certain comments..pass it…go on…it is obvious you want to read them..so you would have something to bitch about…use this wasted energy on some good knowledge that will help people thru their trying times…foreclosures are just one part of a very large puzzle of crime done to this country…we are fighting it in all directions…but add knowledge to help and guide people..not just copy/paste cases..or do you not have any knowledge of your own to offer to others…And NO..I am not in foreclosure, but my daughter is, and I used this past year to help her..I figured to catch a crook I had to think like a crook…and so far it has worked…it all starts before or at the closing..and it includes the Title Co….
Looks like they may have already cut your hearts out….we are living in zombie bank land and all the zombies are out stalking their prey….its night of the living dead…. insolvent bankster debt…
This evil will betray everyone of you sooner or later…you will see. It doesn’t pay well in reality to be loyal to this evil entity. There is no honor among these thieves ….but go ahead, hand them your money, your kids, your property and your soul. Then when they are through using you, they will cut your heart out and eat it with some fava beans and a nice chianti..slurp…..slurp….
THE TRUTH IS…..none of you trolls ever, and I mean NEVER tell the truth about anything at all. You are one of the many great deceivers of mankind. DISINFO AGENTS…THE CONTROLLED OPPOSITION…You are in the service of no one but yourselves and your evil masters…you heed your masters call at any cost and you don’t give a shit about anyone but your evil talmudic agenda. Everyone will not fall for your evil tricks & snares…least of all me.
Thanks but no thanks….I don’t need help from crooks & demons…& I already assessed their damages…it’s all in my motion…your problem is you have no souls….you know you are all going to burn in the hellfire of your own creation so you have nothing to lose. My soul is not for sale for any price…you can’t bargain with it, squeeze it or buy it because my soul is staying put.
Yeah the State bar knows about the fraud because of stripes…They knew about it when they were writing the ex post facto laws to cover up the massive fraud of for themselves & their criminal friends…..Was just watching Bill Maher the satanist saying that we have no Constitution so we don’t need guns to protect it….Well 300 million Americans beg to differ on that…SCREW YOU BILL MAHER AND THE COMMIE HORSE YOU & YOUR COMMIE FRIENDS RODE IN ON…
The grandbabies are tucked in for the night. I was bored. 🙂 UKG was trying to help you with the article he posted and I was trying to help you with the taxes and MS was trying to help you with your “”Gibberish that goes nowhere””” – “”Gibberish”” your words…. I would demand a lot more for the harm & damages these crooks have done….like compensatory damages and other equitable relief…
Think Actual Damages and Move On With Your Life!
Guest… I thought you were going to retreat to Satan’s evil lair for a few weeks? ….oh well…bring it on….because I know the truth and you can’t win with me. That’s the problem when you are an agent of evil…you have nothing to lose because you already sold your soul but your not getting mine…When I said I reject Satan and all of his evil works…I meant it.
“The State Bar knows its a civil forfeiture” …. Sure they do MS and Folks like Stripes are the reason why!
You can slap her in the Face with Reality and she still denies it. If you try to help her she snaps on you because its not what she wants to hear. She wants her life served up on a silver platter without ever taking any responsibility for her debt she racked up. She wont file CH 13 or 11 because she has no income to support the payments in a CH13 or CH11. She cant pay an attorney or her property taxes. She is the Perfect CH7 canidate and she knows it (provided she could come up with the filing fees). She fights with you because she can not face the truth …. all she wants to hear is its not going to cost her anything.
Offended? Me? Hell No! Tell me what that means again…
I thought it was great! I’ve had it with the “political correctness”. Do you know that America is the only country with that crap? It’s the most insidious way of 1st amendment censorship. In all other developed countries, you think what you want. You pretty much say what you want and you do whatever makes you happy in your bedroom. Kids and disabled are off limit, of course. And you know what? When you know that you can, you don’t feel the need to. It’s like drinking. When you know, as a kid, that you could if you wanted to, you don’t feel the need to. You want a joint? Go for it!
This country has f**’d up a lot of our “freedom” by wanting to regulate it all. Can’t regulate the frickin’ banks but regulates everyone else.
christine, hope you weren’t offended. After our conversation, i know you’re a realist. thanks for listening……
Earl Weaver, what a beauty! now THAT was RADIO!!!
It’s a cat box alright…perfect description of this evil GLOBALIST Talmudic scam…that’s why I wear gloves and a mask when I am around their toxic fraud dumpsite…and have blessed objects handy at all times to ward off you evil communists who call yourself a Democracy…a Corp…the government ….a politician…whatever suits your purpose…the fraud flavor of the day club..it all smells like shit….
UKG,
Can you spell F.E.A.R? That’s what’s wrong.
We’re doing what’s needed. NG has only so much time and energy to research and post. He does a bang up job presenting the info and analyzing it but he’s like us: 24 hours each day and not one minute more. We do the rest. There are still people out there oscillating between insane, paralyzing fear and hope. By posting case after case with positive results, we can appease the fear.
No control over the outcome. Not our responsibility. Let’s keep on doing the job.
Great video. Never hear the F word so much in my entire life. Except maybe when listening to Carlin…
Usedkarguy….Well look out world….Look who is calling who a stupid biyatch…the stupid biyatch who thinks he can outsmart everyone…..I won’t lower my standards to your criminal level and watch your stupid biyatch video…
I make a point not to be crass and arrogant and curse and swear online. so I let others do that
again, stripes, this one is for you. Earl Weaver died today. so did Stan Musial. so this one is for you stripes…..
https://www.youtube.com/watch?v=QWQbN0jFo_k
and listen to the end, you stupid bitch
stripes, what is really wrong with you? get a freaking life. find another catbox to play in.
Christine & UKG….GO POUND SAND IN THE MIDDLE OF THE SAUDI DESERT…THESE CROOKS AREN’T EXTORTING ANOTHER DIME FROM ME…
WHEN THE MORTGAGE IS TREATED AS AN UNSECURED DEBT IT SHOULD BE FULLY EXTINGUISHED IN A BANKRUPTCY….THESE CROOKS DESTROYED THE VALUE OF OUR PROPERTY BY DEFAULTING ON THEIR ORIGINAL BILL OF CREDIT AND COMMITTING A QUADRILLION DOLLARS IN CREDIT & INVESTMENT FRAUD ON WALL STREET & THEY COLLECTED $60.4 TRILLION DOLLARS IN U.S. TAXPAYER BAILOUT ROBBERY BACKED BY $8 TRILLION IN REAL ESTATE & THEY WANT US TO RESUME FREAKING PAYMENTS TO THEM….? OH HELL NO…!
CHAPTER 13 ALLOWS THE CROOKS TO STEAL PAYMENTS FROM YOU…..? MWAHAHA ….WHAT CRIMINALLY DECEPTIVE SCUMBAG CROOKS & THEIVES…THEY TAKE YOUR MONEY & OFFER YOU A LIFE OF SLAVERY & INDENTURED SERVITUDE…….
NO FREAKING WAY ….
MAKE THESE FEDSTER CROOKS PROVE THEY PAID THE TREASURY BACK BEFORE THEY DESTROYED THE VALUE OF YOUR PROPERTY COMMITTING A QUADRILLION DOLLARS IN INVESTMENT FRAUD IN YOUR NAME…..!
Is that the same Stone guy who did a podcast a while back on how to fight these crooks and get your case dismissed on a technicality….? I tried to contact him and he never returned my call or responded to my e mail. I came to find out he would only talk to you through your attorney…that was fine with me because that forced me to educate MYSELF….
UKG,
Very good. Let’s keep posting those cases. We’ll make a dent.
WELL…WELL….WELL….UKG…….THEY ARE EXTINGUISHING THE FRAUD OF THESE CROOKS IN A BANKRUPTCY …..??? THAT BODES WELL FOR THE SHEEP WHO WANT THE CROOKED GOVERNMENT TO SAVE THEM BUT NOT ME…. I AM STILL DEMANDING THESE DIRTY GREEDY CRIMINAL BASTARDS PAY ME FOR WHAT THEY HARM THEY HAVE DONE & PERMANENT HARM THEY TRIED TO DO…..WHY….? BECAUSE BY CRIMINAL FRAUD & DECEPTIVE PRACTICES THEY ENGAGED IN A CONSPIRACY TO ROB ME & DEFRAUD ME & RUIN MY GOOD NAME…..THEN THEY TRIED TO STEAL MY PROPERTY & PERMANENTLY HARM ME….THAT’S WHY…
By all means world read all about this scam called democracy these crooks are feeding all of us…..here’s some more crazy but true stories from the alternative media…..the only media exposing these crooks….
http://electronzio.com/
ILLINOIS BORROWERS, TAKE NOTICE:
The Law Offices of Schneider & Stone Reduces Mortgage to Unsecured Claim in Chapter 13
0
The Law Offices of Schneider & Stone, a bankruptcy and business law firm based in Skokie, has successfully removed a Bank of America mortgage from their clients’ home. In an incredible turn of events, the homeowners’ Chapter 13 plan will treat the entire mortgage as unsecured – no different than a common credit card – and the clients will own their home free and clear after successfully completing their case.
The firm’s clients refinanced their property with Bank of America several years ago. The clients signed a standard mortgage giving Bank of America a lien on their house. Bank of America failed to record the mortgage with the Recorder of Deeds. The homeowners fell behind on their mortgage payments and filed Chapter 13 bankruptcy to save their home. Chapter 13 does not discharge a mortgage from a debtor’s home; it rolls late payments into the bankruptcy plan and lets the client start making regular payments until the loan is paid off. In this case, Bank of America’s failure to record the mortgage negated their rights.
The bankruptcy filing caused the bank to review the account, at which point it determined that the mortgage had never been recorded. The bank filed a Motion for Relief from the Automatic Stay in an effort to record the mortgage. The Law Offices of Schneider & Stone objected to the Motion and the court denied relief. The court demanded briefs, and on November 28, 2012, after hearing both parties, the court entered an order deeming the bank’s claim as wholly unsecured.
“An unrecorded mortgage does not create a valid secured claim, period,” said bankruptcy attorney and firm partner Ben Schneider. “The fact that the bank tried to record its mortgage post-petition is incredible to me, and based on the facts of this case, the court absolutely made the right decision.”
Since this matter has been resolved, the homeowners’ Chapter 13 plan will now be able to move forward with confirmation. With the mortgage treated as an unsecured claim, successful completion of the plan will mean the homeowners will leave the bankruptcy with a mortgage-free home. The bankruptcy judge has set a status hearing on the matter, scheduled for January 18, 2013.
(Case Number: 12-11838)
Ben Schneider is the principal bankruptcy attorney at The Law Offices of Schneider & Stone. Schneider handles all types of consumer bankruptcy cases, including Chapter 7, Chapter 13 and individual Chapter 11 bankruptcies. Schneider and his partner, Motty Stone, also want to give credit to associate Edward Brener, who did a lot of the research that led to the win.
For more information, contact Ben Schneider by calling (847) 933-0300 or by filling out a contact form at http://www.windycitylawgroup.com/contact-us.
Really Christine…..? The whole world is reading my comments ….? I doubt it but, if they are…all I can say to that is I HOPE THE TRUTH I AM SPEAKING, THAT CAN ALL BE VERIFIED, CAN ONLY BE CONSIDERED A GREAT THING…THIS ENLIGHTENMENT IS MUCH NEEDED BECAUSE PSYCHOPATHS ARE RUNNING THE WORLD AND ARE RUNNING THE ASYLUM THEY CREATED….THE TRUTH BEING EXPOSED CAN ONLY GIVE MORE POWER TO THE PEOPLE…..
PEOPLE POWER IS THE ONLY POWER BECAUSE IN THE UNITED STATES….A CONSTITUTIONAL REPUBLIC….THE POWER IS VESTED IN THE CITIZENRY…..NOT VICE VERSA….
GOD BLESS AMERICA…WHO ARE…..WE THE PEOPLE OF THIS CONSTITUTIONAL REPUBLIC….!
Please do go on with your all-caps. You already proved to the world at large that you are dysfunctional, maladjusted, imbalanced and really not too bright. Whatever I say will never make the scale sway one way or the other. You’re doing an excellent job just by yourself. I have to hand you that much: extremely efficient at self-destructing and pissing off people. There, you have my complete admiration.
Meanwhile, I did my research, posted a few new cases (things do take place outside of Cook County, Illinois, you see…) in case some poor out-of-your-state soul might need some help and/or hope he/she is sure as hell not going to get from reading your insane prose about CNN, Kudlow, Rahm Emmanuel and a slew of irrelevant people. My own case is proceeding according to plans and I took care of the weeds.
A fine day indeed.
Uh oh better beware the State Bar might do what…..? Write Laws that are not valid or legally enforceable in our CONSTITUTIONAL REPUBLIC….? OH HELL NO & SCREW THEM….!
HEY CHRISTINE …..TIME TO TAKE OUT THE TRASH… AND GUESS WHAT…..? I WILL DO THAT IN ALL CAPS WHEN I SEE FIT…SO EVERYONE HEARS ME LOUD AND CLEAR…..IMAGINE THAT ……NOT ITALICIZED….WE WILL CALL IT AMERICAN PATRIOTIZED..A GOOD OLD FASHIONED AMERICAN ASS WHOOPING…
Well, let me see…
I mean what i say and I do what i mean. That would make me authentic. No room for mental deficiency there.
The STATE BAR knows this is a civil forfeiture so stay off this site…… that statement makes no sense….this is actually both a State and Fed forfeilture and WTF is the STATE BAR going to do about it….? Their legislators…..WHO ARE THE POLITICIANS ARE WHO ALLOWED THIS AND ARE A PARTY TO THIS FRAUD……Goddamned crooks wrote the UNCONSTITUTIONAL AND THEREFORE ILLEGAL FRAUD LAWS IN OUR STATE HOUSES…..THE STATE GENERAL ASSEMBLIES ….IN OUR STATE CAPITALS WHO ARE …..THEIR ATTORNEYS PASSED THEM TO DEFRAUD US…..SO WHAT ARE THEY GOING TO DO NOW THEY ALL GOT CAUGHT RED HANDED….? CEASE & DESIST THAT’S WHAT…THAT’S THEIR ONLY LEGAL OPTION…….NO EX POST FACTO LAWS……
The good news is…
Those all-caps weirdos haven’t figured out how to bold. Can you imagine otherwise…?
Do you not have anything good to say Enraged/christine…everyone is nuts, but you. Have I got that right?
BTW MS…..THE FDCPA CANNOT SOMEHOW LINK BACK A CONTRACT THAT NEVER EXISTED…..THAT IS CRIMINAL & I AM NOT LAYING DOWN FOR IT AND NO ONE SHOULD….
“You all may want to stay off this site”
And then again, we may not but no one will begrudge you for staying away until you can come back here, with a list of cases where your “expertise” helped homeowners win their battle. We’ve been asking for years. So far, Maher Soliman is another one of the big mouths with no result. “The barking dog is often fangless”.
Forgot your pills again? Released from rehab a tad prematurely?
The politicians are hired thugs as well…
I agree masterservicer these trolls are hired thugs. The truth is Neil can’t fight for our rights. Only we can do that. I am grateful Neil gives us a forum to call out these frauds and his info has educated me. You can’t put a price tag on that. I will not stay off this site. I am not doing anything illegal or wrong by speaking out about these crimes against us. The attorney’s can’t defend our Constitutional Rights and no one can but us.
You all may want to stay off this site —-The State Bar knows its a civil forfeiture and so does the editor . The FDCPA will somehow link back the contract to the homes marshaled in back in 2008
The judicious found a way to help lenders and pick up clients …. getting fresh leads of people approaching the five year maturity mark or the one year conversion mark or lock out period . We have a civil rights calamity here for which the Constitution is in array .
Not an attorney wants to plead the following –
Phantom Income
Diluted consumer equity used to create the waterfall
Using the mortgage to tax the entire earnings of the household
Homeowners who live in a leasehold estate
Cash out refinances one year to the mark later ….
Proceeds that show as a REFUND to borrower
Appraisals in 2006 – 2007 used to ramp back up business
Collateralize mortgage’s for foreign and central bank exchange of comml . paper for LIBOR
Using a persons sacred home to spin a dollar of equity into 20 times the normal TIER 1 deposit
Please I get it now…someone jump in …call me a fraud
NEIL – i DON’T KNOW ABOUT YOU EITHER . A) YOUR FULL OF BUNK AS YOU WERE NEVER ON THE STREET – YOUR LIES ARE LIVING LIES AND I CAN SEE THAT NOW. YOUR SITE HAS ORGANIZED ONE HATE CAMPAIGN AFTER ANOTHER AGAINST MY EFFORTS ….AND YET YOUR STILL NOT IDENTIFYING WHAT IS HAPPENING ….
YOU DON’T KNOW ….WANT HAVE A CONFERENCE CALL AND LET THE READERS LISTEN IN . WELL. IF YOU KNOW YOUR NOT SAYING …AND IF YOU DON’T KNOW WHAT THEY DID THEN WHY ARE YOU OFFERING SERVICES …LETS SET IT UP …CONF CALL ….I WANT PEOPLE TO SEE OR HEAR WHAT YO REALLY KNOW….
SECURITIZATION DOES NOT WORK – WHY ?
IT FAILED IN ITS FIRST RUN – WHY ? (96-2001)
WHAT CHANGED IN 2001 AND CONTINUED ON TILL 2005
WHERE IS THIS DEBT FORGIVENESS GOING ?
TELL ME ABOUT THE GRANTEE AND GRANTOR AS IN THE FORECLOSING BENEFICIARY WHO “PAID” ….PAID WHAT ….
WHO ARE YOU ANYWAY …..
STRIPES
Buzz terms – Imagine that the supremacists are giving back what they stole from the peasants……
Gibberish that goes nowhere – I would demand a lot more for the harm & damages these crooks have done….like compensatory damages and other equitable relief…
I wont argue this one – Just leave the Stripes comments alone people
STRIPES One of a group of people hired to stage diversion and mislead readers into political non nonsense. Keep people focused on anti gov non sense
I just saw Rahm Emanuel looking all sweaty & smelly in a speech trying to convince us the Fed has a legal right to violate the U.S. CONSTITUTION….DUAL IDENTITY LYING CROOKS….ALL OF THEM..
Even if these crooks gave back every property they stole or hijacked they still owe WE THE PEOPLE GAZILLIONS….IN ORIGINATION FRAUD & USURY….
Imagine that the supremacists are giving back what they stole from the peasants……I would demand a lot more for the harm & damages these crooks have done….like compensatory damages and other equitable relief…
Posted for a friend:
“…Securitization of credit goes back to the 80′s. For mortgages, the ONLY securitization was Freddie/Fannie. Then credit cards, auto loans, student loans—all started to be securitized by banks. But, it was not until the subprime fraud that the banks started to “securitize” Freddie/Fannie charge-offs. This started to occur about the year 1999/2000. As this happened, “mortgage” market share shifted from Freddie/Fannie to the banks. Anything that has a cash flow can be securitized. Securitization is the pass-through of cash flows. But, the key difference as to subprime is in the accounting (remember Enron scandal??). Valid securization must involve the removal of RECEIVABLES. You have to understand an accounting balance sheet for this. Receivables are the current assets that are owed to a corporation (the only one who files accounting financial statements). Thus, for “TRUE” securitization—the current asset (cash) receivables are removed from “ON” balance sheet to off-balance sheet conduit. But, for subprime, this was NOT the case. Any GSE charge-offs (the note) cannot be “refinanced” for current cash receivable to be reported by corporate financial statements. Charge-offs are—well, charge-offs. Note is GONE. So when the GSEs charge-off the note—only collection rights remain. These collection rights are SOLD by GSEs to third parties. Collection rights (because there no longer is a note)—can only be reported as “INCOME” by the acquirer. Therefore, all these REMICs that claimed to be removing receivables from on-balance sheet to off-balance sheet—for “security” pass-through—were fraudulent. This is what the securities fraud is really about. As to the borrower, big difference—because, one—the note is gone (and only collection rights survive)—and two, the “debt” is no longer secured. It is UNSECURED. Big issue in bankruptcy. And, of course, the subprime refinances were falsely (fraudulently) presented as a mortgage refinance—when, in fact, they were nothing more than COLLECTION RIGHTS MODIFICATION. Also, big IRS tax issues involved. This is why the financial crisis hit so heavy and hard when it did. Europe discovered it first. Of course, US regulators, Congress, and the Federal Reserve themselves—did not know what hit them. Totally unprepared. Why?? Because Deregulation (which occurred at the same time that subprime started to surface–around year 2000)—allowed involved financial institutions to get away with it. Who is to blame for Deregulation?? Senator Phil Gramm, and President Clinton (President Bush could have stopped but did not.)”
Here is a good link re. the deregulation timeline (Frontline):
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html
This one is over a week old.
IN THE SUPREME COURT OF PENNSYLVANIA
MIDDLE DISTRICT
DEUTSCHE BANK NATIONAL TRUST
COMPANY, AS INDENTURE TRUSTEE
FOR AMERICAN HOME MORTGAGE
INVESTMENT TRUST 2007-2,
MORTGAGE BACKED NOTES, SERIES
2007-2,
Petitioner
v.
LARRY TURK A/K/A LARRY I. TURK
AND PATRICIA TURK A/K/A PATRICIA
E. TURK,
Respondents
::::::::::::::::::
No. 582 MAL 2012
Petition for Allowance of Appeal from the
Order of the Superior Court
ORDER
PER CURIAM DECIDED: January 7, 2013
AND NOW, this 7th day of January, 2013, the Petition for Allowance of Appeal is
GRANTED. The order of the Superior Court is VACATED, and this matter is
REMANDED for reconsideration in light of Newman Development Group of Pottstown,
LLC v. Genuardi’s Family Market, Inc., 2012 WL 4473281 (decided 9/28/2012).
I don’t know if I would have appealed. The likelihood of the bank coming back for more is quite rtemote, in my views…
Released on December 28, 2012
SUPREME COURT OF THE STATE OF NEW YORK
Appellate Division, Fourth Judicial Department
PRESENT: SMITH, J.P., PERADOTTO, CARNI, SCONIERS, AND WHALEN, JJ.
1318 CA 12-01228
[*1]BANK OF NEW YORK MELLON, FORMERLY KNOWN AS BANK OF NEW YORK, AS TRUSTEE FOR THE CERTIFICATE HOLDERS CWALT, INC., ALTERNATIVE LOAN TRUST 2006-16 CB MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-16 CB, PLAINTIFF-RESPONDENT,
v
JEAN WHITTY, ALSO KNOWN AS JEAN C. WHITTY, DEFENDANT-APPELLANT, ET AL., DEFENDANTS.
Appeal from an order of the Supreme Court, Onondaga County (John C. Cherundolo, A.J.), entered May 10, 2012. The order, among other things, granted the motion of defendant Jean Whitty, also known as Jean C. Whitty, to dismiss the complaint and dismissed the complaint without prejudice.
RICHARD E. CLARK, PLLC, LIVERPOOL (RICHARD E. CLARK OF COUNSEL), FOR DEFENDANT-APPELLANT.
BLANK ROME LLP, NEW YORK CITY (ADAM M. SWANSON OF COUNSEL), FOR PLAINTIFF-RESPONDENT.
It is hereby ORDERED that the order so appealed from is unanimously affirmed without costs.
Memorandum: In this mortgage foreclosure action, Jean Whitty, also known as Jean C. Whitty (defendant), moved to dismiss the complaint with prejudice. Supreme Court granted that part of the motion to dismiss the complaint, but ordered that it be dismissed without prejudice. We affirm. Contrary to defendant’s contention, we conclude under the circumstances presented here that the court did not abuse its discretion in dismissing the complaint without prejudice (see generally Castillo v County of Suffolk, 307 AD2d 305, 305). We have reviewed defendant’s remaining contentions and conclude that they are either without merit or not preserved for our review.
Entered: December 28, 2012
Frances E. Cafarell
Clerk of the Court
128 Nev., Advance Opinion {PI{
IN THE SUPREME COURT OF THE STATE OF NEVADA
INGER CASEY,
Appellant,
vs.
WELLS FARGO BANK, N.A.,
Respondent.
Appeal from a district court order confirming an arbitration
award and entering judgment. Tenth Judicial District Court, Churchill
County; David A. Huff, Judge.
Reversed and remanded.
http://www.nevadajudiciary.us/images/advanceopinions/128nevadvopno64.pdf
Hey Christine…..shouldn’t you be outside tending to your weed garden…?
Everyone can accelerate payment on the FEDS DEFAULT BY NOT PAYING THESE CROOKS…..
THE TRUTH IS….THE ISSUER IS IN DEFAULT…..THE FED…..THE ISSUING BANK AND WE THE PEOPLE ARE GOING TO ACCELERATE THE RETURN OF ALL PAYMENTS ON THOSE HIJACKED, STOLEN NOTES THEY ARE COUNTERFEITING & FORGING ON THEM….BECAUSE THEY ARE….. DIRTY EVIL TALMUDIC SATANIST COMMUNIST CROOKS..
THE RULE OF LAW…..LIBERTY WILL PREVAIL..
IN THE COURT OF APPEALS OF OHIO
SIXTH APPELLATE DISTRICT
LUCAS COUNTY
Federal National Mortgage Association Court of Appeals No. L-11-1319
Appellee Trial Court No. CI0201007433
v.
Robert O. Brunner and
Harriett L. Brunner, et al. DECISION AND JUDGMENT
Appellants Decided: January 18, 2013
{¶ 20} We find, therefore, that Del Rio’s affidavit did not comport with Civ.R. 56(E). Further, because Del Rio’s affidavit was the only evidence to which FNMA 12. pointed in support of its motion for summary judgment, we must conclude that FNMA did not satisfy its initial burden as movant under Civ.R. 56. Thus, the trial court erred by overruling appellants’ motion to strike and awarding summary judgment in favor of FNMA.
{¶ 21} Given our disposition of the matter, it is unnecessary for this court to address the procedural propriety of appellants’ post-pleading defense that they never received notice of default or acceleration. That issue will have to be evaluated by the trial court in light of further proceedings. However, in the interest of judicial economy, we do find error in the trial court’s conclusion that notice is not a condition precedent to accelerating the loan under the terms of the note.
{¶ 22} The acceleration clause in the note provides, “If I am in default, the Note Holder may send me a written notice [of acceleration].” It then states that the date for payment of the accelerated amount “must be at least 30 days after the date on which the notice is mailed to me or delivered by other means.” Contrary to the trial court, we find it rather obvious that the permissive term “may” in this provision relates to the right of acceleration, not to the giving of notice. In other words, the provision gives the note holder a choice between accelerating the loan with notice or not accelerating the loan. It does not give the note holder the option of either accelerating the loan with notice or accelerating the loan without notice. If that were the case, the clause could easily have stated that the loan my be accelerated upon default without notice to the borrowers. Accordingly, appellants’ assignments of error are well-taken.
13.
{¶ 23} The judgment of the Lucas County Court of Common Pleas is reversed. This cause is remanded to said court for further proceedings consistent with this decision. Costs of this appeal are assessed against appellee pursuant to App.R. 24(A).
Judgment reversed.
They all think like communists because they are all brainwashed into believing the evil Talmud……They believe they are superior and nothing stolen from the goyim has to be given back….The evil ideology of the Talmud, written by these agents of evil has infiltrated everything….every level of Govt…education…the Corps…the medical establishment ….it is not based in LAW OR FACT BUT LEGAL THEORY….LIKE THEIR LEGAL THEORY OF CORPUS JURIS SECUNDUM …..IT IS A SHAM & A FRAUD & EVERYTHING IS PAID FOR BY ALL OF US….
Anyone who says that assassination m happened 50 years ago and is no longer relevant does not get that is why we are all here today. That was the beginning of all of the sorrows we are living today.
The CIA….THE SS & THE FBI all stood down that day in Dallas ….it is well documented on you tube….the mob is not powerful enough to act alone and kill the President…
I give you credit Stripes, you are definatly a thorn in their buttox. Its bought you some time, but now that time is up! Dont say I didnt try to tell you …. redeem your property taxes. And if you have a decent bone left in your body, you would get a job and do the Right Thing! Not set on you butt and live off the taxpayers! You want the Fed (taxpayers) to pay for this and that and whatever you want. Then you got the State supporting you with taxpayer money, and paying your property taxes for you. HMM … Disabled? Lazy? or Greedy? You Decide!
DID THE MOB KILL J.F.K ?…….IS AIRING ON THE MILITARY CHANNEL RIGHT NOW…THE MOB HATED THE KENNEDYS FOR SHINING THE LIGHT ON THEM….SO THEY DID IT FOR THE BANKSTERS …THE BANKSTERS ORDERED THAT HIT VIA THE BLACK POPE & CARDINAL SPELLMAN…THE TRUTH IS OUT IF YOU WANT TO KNOW IT…..THERE WERE MANY POLITICIANS INVOLVED TOO….THAT ASSASSINATION WAS A COUP DE TAT OF THE WHITE HOUSE BY THE BANKSTERS…NO ONE ASSASSINATES THE PRESIDENT OF THE UNITED STATES WITHOUT FULL COOPERATION OF THE SS…THE CIA…THE FBI & OTHERS….
Of course, either are these crooks…dual identities are only going to work until they get caught. Like any spy…..they can only get away with it until they get caught. Good guy, bad guy ……bad guy, good guy is only going to work until the bad guy…good guy gets caught…….
Guest you are a pretty good b.s.er but not quite good enough. That’s why they have you working as a troll. You are not that good at that either…… that is precisely why I know exactly who you are….. you are not who you appear to be that’s for sure.
They are not laughing….they are all running & hiding.
My only wish is to be these crooks worst nightmare ….
Its time for the Sat. Morning Funnies to End for Today. My grandkids are going to be here soon. Many Blessings to All
“My motion ends with how they are in direct violation of all of my Legal Rights, my Constitutional Rights as a Sovereign Natural Born U.S. Citizen, as well as Natural Law of Moral Standards as I am the Maker and holder of all the notes, they are in direct violation of All the Laws of the United States…”
I’d like to be a fly on the wall of that courthouse when the judge falls off his chair, roaring with laughter.
They wish they could outsmart me….but that can’t ….no bankster booty for them from me….tee hee hee …..
Sorry Stripes! You are the only person I know who screws themselves. Personally… I’ve been married over 30yrs and I have a husband for that. No need to screw myself ….. teehehehehe
I should clarify…..our property taxes are being paid by us through hyperinflation and progressive taxation policies is how these crooks steal….the banks don’t pay for anything……WE THE PEOPLE DO.
Screw you guest….my property is well maintained and the property taxes are being paid by us.
My question to her…do you have any of your dialogue to share, of value? Jeez…
Soooo.. if you already know all this, and you know you are the legal deed holder …. why on earth are you not paying your obligations under law linked with being the property owner? Like paying your Property Taxes and Maintaining Your Property!
Holder of all the notes meaning….they already cashed those checks and they are in possession of overdue instruments in my name and are in direct violation of the law. They are counterfeiting and forging and conducting illegitimate business with checks they already cashed and contracts that no longer exist.
Love that poppy….Throw it right back at them, that’s what I say. My motion ends with how they are in direct violation of all of my Legal Rights, my Constitutional Rights as a Sovereign Natural Born U.S. Citizen, as well as Natural Law of Moral Standards as I am the Maker and holder of all the notes, they are in direct violation of All the Laws of the United States, including the Takings Clause of the FIFTH AMENDMENT which found its genesis in Section 39 of the Magna Carta, which declared that no land would be taken without some form of due process: “No freeman shall be taken or imprisoned or disseised (deprived of land), or exiled or in any way destroyed, nor will we go upon him nor send upon him, except by the lawful judgement of his peers or by the law of the land.”
Out of all the many wonderful quotes in American history, Christine would pick the quotes from the Hellfire Club. Those quotes are vague and weak. The truth is, we are a Constitutional Republic and only WE THE PEOPLE can defend it. It has to be guarded and protected and restored from time to time. Sometimes with the blood of patriots. Whatever it takes….Live Free Or Die has always been our motto. To live under the iron fist of tyrants and dictators is not freedom. Ignoring them, complying, conforming and cooperating with them doesn’t make them go away or restore Liberty, NO….only U.S. PATRIOTS can do that. That is why these criminals want to erase our true history and bring the foreigners in here so we forget what freedom and liberty means. Fortunately, there are more patriots than they thought…GOD BLESS AMERICA..
“The Constitution only guarantees the American people the right to pursue happiness. You have to catch it yourself.” ~ Benjamin Franklin
“Most people would rather be certain they’re miserable, than risk being happy.” ~Robert Anthony
“Your time is limited. Don’t waste it living someone else’s life. Don’t be trapped by dogma, which is living the result of other people’s thinking. Don’t let the noise of others’ opinions drown your own inner voice. And, most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become.” ~ Steve Jobs
“To be happy, we must not be too concerned with others.” ~Albert Camus, The Fall, 1956
Remember God knows who all the siners [sic] are and when they die they are all going to pergatory [sic]
And don’t forget to leave milk and cookies out on the mantle.
Oh….sorry. If the above is your considered contribution to a tactical foreclosure defense blog, then you’ve more than likely already lost your mantle to foreclosure.
But not to worry, they’re over there with your marbles, which you lost previously.
[…] Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: banks, borrowers, Custodial funds, fraud, investment banks, investors, Master Servicer, REMIC, trust, trust account Livinglies’s Weblog […]
stripes
I put that language, negotiating with Terrorists (straight from the rule book), in my Motion…LOL they are very pissed.
My best guess: we’re all going there then, some for while, some forever…
Remember God knows who all the siners are and when they die they are all going to pergatory
It has all been reconfigured and the Roman footsoldiers of today are the Rothschild Zionists who fraudulently control our Government, Wall Street, the corps, our educational and medical systems and our money; their Illuminati enforcers are at the top ranks of law enforcement, the judiciary and the military. They are all members of the Synagogue of Satan by many proxies. They don’t pay for anything. They rob us via the FED….& Credit lending and control by being shareholders & directors/investors in everything we pay for; taxation & social safety nets. They don’t own anything because they don’t pay for anything….WE THE PEOPLE PAY FOR EVERYTHING….They are the great deceivers of mankind.
Those who violate the letter of the law today are the same crucifiers who have been violating it all throughout history.
http://www.newworldorderinfo.com/?action=print
A bad way to find out you still own the home a bank threatened to ‘steal’ from you and didn’t follow through.
Article (due to copyright you have to read it there) says it’s in the thousands. My guess is without having put these assets in the trusts, and with the OCC saying they don’t have to go through and review any more, and Neil’s post that linked to Huffington Post that said they will start sending out checks in March for settlement, it’s interesting the ‘clouded title’ issue will probably end up being a zombie title issue where the home is empty and gutted and everyone wants to be paid but no one wants to exercise foreclosing on it…tax people keep adding taxes, mortgage company keep adding interest and penalties, and they just mess over you even more.
It’s been game over. Waiting on something that will forever take away a banker’s ‘abuse’ of forcing people to leave their ‘shelter’ because of a threat.
http://www.reuters.com/article/2013/01/10/us-usa-foreclosures-zombies-idUSBRE9090G920130110
Trespass Unwanted, Creator, State, Life, Corporeal, Free and Independent State, In Jure Proprio, Jure Divino.
It is trickle down fraud….and there is a reason it is at every level, that is how the rich crooks at the top hid themselves by allowing criminals to rob us and commit crimes at every level…to hide their identity & their guilt. All fraud starts at the top of the pyramid scheme but they send you down rabbit holes to divert attention from the top. They are ALL CRIMINALS…..from the appraisers to the title companies who hid & dumped the banks fraud to the low level crooks, their robosigners…and the bank attorneys and even the “fixer” attorneys ….all crooks.
People want union jobs but they don’t even know they are the unions biggest asset and the unions are supposed to be protecting their assets….and they failed.
That is what the investors pay the unions for…..to protect their pension plans…
Quite to the contrary A man…… it is the STAKEHOLDERS …..WE THE PEOPLE WHO NEED TO SET LEGAL PRECEDENTS …….THE INVESTORS CAN AFFORD TO HIRE ATTORNEYS TO SUE THESE CROOKS…..
The Honorable Judge is just delaying the inevitable. All the investors have to do is win a few judgements and we have great case law.
NEVER AGAIN
CNBC REPORTING…..STATE DEPARTMENT SAYS U.S. GOVERNMENT DOES NOT NEGOTIATE WITH TERRORISTS…THEN WHY ARE THEY ALLOWING THE FED & THE BANKS TO TERRORIZE THE AMERICAN PEOPLE WITH $16 TRILLION DOLLARS IN BANK FRAUD…? WHY WAS THE FED ALLOWED TO EXTORT $60.4 TRILLION DOLLARS FROM US BACKED BY ZERO COLLATERAL….?
Kudlow said the U.S. GOVERNMENT should be strong enough to get these crooks.
WHERE ARE THE MARINES….? WHERE ARE THE U.S. SPECIAL FORCES…ASKS KUDLOW…..HOPEFULLY THEY ARE GATHERING INTELLIGENCE ON THESE POLITICAL TERRORISTS…
THE NATIONAL DEBT IS A SHAM & A FRAUD….AMERICA IS NOT BROKE….THESE POLITICIANS ARE USING THE NATIONAL DEBT TO FRAUDULENTLY INDUCE BANKRUPTCY ON WE THE PEOPLE…..WE THE PEOPLE ALREADY PAID FOR EVERYTHING UPFRONT AT THE ORIGINATION FRAUD SAID CNBC…..THE NATIONAL DEBT IS A CRIMINAL FRAUD…..THE CRIMINAL POLITICIANS ARE HOLDING OUR WEALTH & WE THE PEOPLE HOSTAGE….THE POLITICIANS ARE TERRORISTS …
The POLITICIANS are the FED BY PROXY OF INVESTING….IT IS ALL UNCONSTITUTIONAL….ILLEGAL AND CRIMINAL….FIRE THESE CROOKS….& ABOLISH THE FED…
The judges are in their stupid club. They are being incentivized for these crimes against us. Its the legislators in our own State houses…..THESE FASCISTS ARE IN THE GENERAL ASSEMBLY’S & ARE the crooks on Kapital Hill who are having their criminal friends writing these laws for their criminal friends …..the politicians in the State Kapitalists…and on Kapital Hill for the Senate, Congress & in the “White House”….. they are the FED INVESTORS…..DON’T BE FOOLED…
http://www.occ.gov/index.html
This will help to …. http://www.occ.gov/topics/consumer-protection/foreclosure-prevention/financial-remediation-framework.pdf
http://www.occ.gov/topics/consumer-protection/foreclosure-prevention/correcting-foreclosure-practices.html
http://www.occ.gov/topics/consumer-protection/foreclosure-prevention/financial-remediation-framework.pdf
We keep going in the same circles !
People who buy property with hard-earned down payments NEVER EVER expect to one day be in court as a defendant.
We did the REQUEST for INDEPENDENT FORECLOSURE REVIEW last year !!!!
What result did it get ? Where can we go to get numbers on how many people requested one ? If this is buried, how do we dig it up ?
There must be people on this blog who can access this info – where are you ?
One straight line on just this one issue could do more for us than trying to play lawyer when we aren’t one !
Where are the whistle-blowers in the OCC ?
NG ,
I’m all for it ,, we need someone who can consolidate the claims into a few dozen big claims with the power to get discovery. I think the best starting point is the “remic”s paid off by AIG in 2008 ,, they have the customer data…
Who can get the $5,000/hour lawyers for the investors to listen to reason? They basically have full employment for life with the current suits… What would make them want to actually win rather than drag it out for 20 years..
Are these the type of “investoors” as in the Madoff scheme?
The kind that are deaf, dumb and blind?
I think there should be a trustee like Irving Picard who will knock on the door of those investors who are on the plus side of the ledger and have them disgorge profits made from their participation in the “theft by deception scheme known as “The GSE Business Model”.
This is a scheme that has devestated cities and all the players in the Model should be accountable.
The only issue I have with all this talk of investors and borrowers meeting up, and it’s a big one….what happens to the 10-11 million borrowers who have already been tarred and feathered by the criminal syndicate? How can the many millions of once prosperous, once hard working borrowers across the land who are now destitute and out of work due to the multi-year pounding the cartel did on folks; their employment, their credit, their families, their businesses….how can they possibly be put back together by a late-date meeting of the minds and a new mortgage contract, even if on nifty terms?
It’s hard for me to imagine a relationship between investor and borrower that can possibly come close to correcting the massive fraud, without a one by one review of damages done to each and every borrower. Let the investors seek their own sanctions.
What we need is an INDEPENDENT FORECLOSURE REVIEW, one by one, for everyone who was ever affected by the financial elite. Anything less is just more papering over the massive crime spree and releasing the guilty from facing their fate. They need to be prosecuted and jailed. One by one. I truly don’t care if it takes a decade and costs the banks trillions.
my accountant let me know he received a letter from Freddie asking if my financials from 2007 were correct…….very interesting
the first rule of being a broker…..is NEVER put both sides of a transaction together…..should tell us all we need
I have a quesion to all readers.
My original mortgage was with Ameriquest. Discharged in BK chapter 7 in 2005. After the discharged, securitized into a trust. Does the trust ‘s trustee (BNY) has the right to enforce the Note. Or what they bought is just collection rights?
Jan Van Eck , please?
Strange that $45bn is just about the back of an envelope dollar
amount the servicer’s are contractually obligated to pay in income
to the trusts whatever the status of the loan,(short of fraudclosure ,
of course)The FRB is neither Federal or a Reserve.An unConstitutional PRIVATE banking cartel that creates money from thin
air for the benefit of its members,and only its members..
This is exacly why the FRC is forced to purchase 40 billion per month in MBS – nobody else will!
Respectfully,
SMIMITW