Ally-Rescap Dispute Shows the Rest of the Story: Myth vs. Fact

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“The true transaction is the one where investors gave money to borrowers and the borrowers agreed to pay it back either under the terms of the note, the terms of the bond or some combination of the two. That loan is NOT secured but was intended to be secured by both the actual lender (investors) and the actual borrower (the homeowners). ” — Neil F Garfield, Esq., livinglies.me

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For assistance with presenting a case for wrongful foreclosure, please call 520-405-1688, customer service, who will put you in touch with an attorney in the states of Florida, Tennessee, Georgia, California, Ohio, and Nevada. (NOTE: Chapter 11 may be easier than you think).

“RIFE WITH CONFLICTS AND INFORMATION GAPS”

Editor’s Analysis: It is still too much to fathom for most Judges, lawyers and even homeowners and investors. The scale of theft in the mortgage crisis is not accepted by government either, so it is being replicated by the banks in student loans and commercial loans to businesses where the spigot is wide open with crazy terms.

The Judges ask “where is your evidence” and the answer as set forth in Wigmore and other scholars on evidence is that where the information is exclusively within the care, custody and control of the party against whom the allegation is made, the burden shifts to that party to prove that the allegation is untrue.

But Judges don’t want to do that probably because they still think the debt is real and legitimate between the parties in front of him or her.

The diversion of funds and documents has been working very well for the Wall Street banks for years now and they have essentially stolen 5-6 million homes using sleight of hand financial maneuvers. But some Judges, like the one I was in front of yesterday in Tallahassee are getting on board at least in terms of acquainting themselves with the process of securitization. Most of them are still arriving at the wrong conclusion because the alternative seems preposterous.

But if you examine the disputes between the big boys, the truth is easy to discern. Here we have (see article below) Rescap and Ally fighting over what others regard as preposterous. But it is difficult to imagine a scenario in which the Rescap claims and other creditors of Ally Financial would not be true since they want to do the deal.

The U.S. Government owns 74% of Ally and is offering to put up $750 Million to cover liabilities relating to mortgages. Why would the bank have liabilities? Because the loans don’t exist or are grossly overvalued and Ally and others shared in tier 2 yield spread premiums that were fraudulently taken from investor money to buy other investments for the banks including insurance payable to the banks and credit default swaps payable to the banks even though the banks were not putting up one nickle and were using the same system of fabrication and forgery to fool counterparties on guarantees of the loan pools which, it turns out, didn’t exist.

Dozens of writers including myself have looked at the settlements with law enforcement and regulatory agencies screaming that the settlements are rounding errors compared with the full scope of the fraud used to promote and cover-up the Wall Street Bank Ponzi scheme. We are ignored. But now the real creditors and the people who really lost money — the investors — are starting to peak under the hood of the brand new car they bought and are finding the shell of a 1965 VW bug with no engine or steering wheel.

They don’t like what they see and they want to know (a) where did all that money go if it didn’t go into mortgages and (b) why isn’t the government or Ally stepping up, facing the music and agreeing to cover the liability and losses that are already in the pipeline and likely to get much much larger as the next five years unfolds.

Unfortunately for Ally and the U.S. Government, the creditors are not stupid and unsophisticated. They understand what happened and are completely unwilling to cover losses that the banks caused by stealing money. For this one company, Ally Financial, whose size is barely comparable to the giants on Wall Street who engineered this catastrophe, Rescap and the other creditors say that the $750 million offer is “a drop in the bucket” compared to the actual liabilities and losses of Ally.

(Small wonder that the shadow banking system has over $700 trillion in nominal value cash equivalents that are not worth much more than $15 trillion. Every dollar reported on those instruments in the shadow banking system is rife with potential liabilities several times the reported value of the instrument.)

So finally we have a bankruptcy court examiner auditing the transaction and accounts and rendering a report in May, 2013. The report is likely to be stunning and will have far reaching effects as the asset side of the balance sheet of Ally drops to a small fraction of what is currently reported. It won’t take more than a few seconds for the high speed traders to crash the stocks of the Wall Street Banks because the accounting for non-existing and overvalued assets on their balance sheets is just as bad or worse than Ally.

And all of that adds up to a reasoning process that takes time, explanation and sometimes crayons in court to get across tot he Judge. The DESCRIBED debt never existed because the “lender” was actually a naked nominee just like all the other naked nominees in the whole mortgage meltdown. When the time comes that the pretender lenders are required to produce cancelled checks and wire transfer receipts and instructions it will be obvious that the paper in the securitization chains is worthless or worse carrying liabilities for fraud and statutory violations. It will be equally obvious that the subservicers, master servicers, trustees of empty pools, and others created an illusion that worked, receiving trillions of dollars in insurance type contracts on transactions that never occurred.

The true transaction is the one where investors gave money to borrowers and the the borrowers agreed to pay it back either under the terms of the note, the terms of the bond or some combination of the two. That loan is NOT secured but was intended to be secured by both the actual lender (investors) and the actual borrower (the homeowners). 

On the other hand neither the lender nor the borrower ever intended to do a deal that was guaranteed to fail — and that would have required true appraisals and true prices that were dead even with the actual value of the property — i.e. if the true value of the property was used, there would have no no crash, the loans would have been smaller and the ability to repay the loans would have been correspondingly enhanced.

In a giant piece of irony, realtors are complaining that appraisers are holding up deals (the way they should have during he mortgage meltdown period) with appraisals that don’t add up to the contract price. In the old days that was it — either the buyer came up with more cash, the seller reduced the price or the bank relented after being given additional collateral. Usually it was some combination of those factors.

By ANDREW R. JOHNSON, Wall Street Journal

Negotiations are breaking down between creditors of bankrupt mortgage lender Residential Capital LLC and its parent, Ally Financial Inc., making it likely the government-owned auto-finance company will face litigation as it seeks to sever ties, people familiar with the matter said.

The creditors, including Wilmington Trust Corp. and other members of a committee representing ResCap’s unsecured creditors, are pushing Ally to provide more money to settle potential liabilities it could face as ResCap’s parent.

Ally, which is 74%-owned by the U.S. government, is working to cap its exposure to the subprime lender’s mortgage business so it can move forward on efforts to repay its $17.2 billion crisis-era bailout and focus on its core auto-lending and online-banking businesses.

At issue is a settlement Ally reached last year with ResCap in conjunction with the mortgage subsidiary’s bankruptcy filing. Under the deal, Ally has proposed paying $750 million to ResCap’s estate in return for a release from potential liability claims from outsiders.

But creditors have blasted the deal, saying the $750 million represents a drop in the bucket compared with what they say are Ally’s true liabilities. They say the parent company stripped ResCap of its most valuable asset, an ownership stake in Ally Bank, as part of a transaction completed in 2009. They insist Ally should retroactively pay more for the deal, among other claims.

A bankruptcy court examiner is investigating that transaction as well as others surrounding ResCap’s May Chapter 11 bankruptcy filing. The examiner’s report is expected to be completed in May.

“There is no support among the constituencies for the proposed amount of the Ally contribution because the amount is far too small in comparison to the value of the claims that have been and may be asserted against Ally,” Wilmington Trust, a unit of M&T Bank Corp., MTB -0.44% said in a letter to ResCap’s board this month. Wilmington said the negotiation process for the settlement was “rife with conflicts and information gaps.”

See full article at ResCap Creditors Press Ally for Larger Pact

124 Responses

  1. Under this new settlement from Jan 2013, if the banks and government are smart as most people have no clue what been done to them and most attorney are turned upside-down on the matter but are catching on. Is where they settle with folks and that way it gets the banks and the federal government regulator off the hook because the matter is settled between the homeowners and banks.

    This thing in the area of Countrywide and BOA, and Washington Mutual and Wells Fargo government insured loan being foreclosed is not even hard to prove because the loan could not be sold after Ginnie Mae was relinquish the blank Notes.

  2. Quiet title……? Ha.. That would be way to easy on these crooks. The case is full of fraud, forgery, conterfeiting, concealment and deception because there is fraud in the factum. Therefore, the case should be dismissed with prejudice, clear title to me plus monetary damages. That would be the only proper correction for these thieves.

  3. Someone here said … There was no servicing rights or escrow accounts on these loans. Only the MasterServicer would know this …. there is no kicking the can down the road anymore. Or as I like to say … Passing the Hot Potato. 🙂

  4. RE: RE: ….. RE: Bank of America has flagrantly violated its 2012 consent order with 49 state attorneys general, the Department of Justice, HUD, the Fed, Treasury, and other agencies. And one reason why may be that it is on schedule with its plans to have disposed of the servicing of virtually all Countrywide loans by the end of March. Perhaps it figured no one would be able to identify and charge it for these abuses before it handed the loans off.

    ME: ME: ME: They can not sell what they do not own!!!! UT OH!

  5. I am sure BOA would be thrilled to join me in a lawsuit against CW and MERS. Just one problem …. BOA gave the order for MERS to “Shit on top of CWs shit on our Title. BOA/MERS will Pay or we wont sign up to Play! Enough Said!

  6. […] Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: Ally Financial, Andrew Johnson, M&T Bank Corp., ResCap, Residential Capital, Wall Street Journal, Wilmington Trust Livinglies’s Weblog […]

  7. Right.. You and the RPII are stripping Amcore and MERS of their liens. Similar to a QT action. Either way, it opens Title for the RPII to FC at your time and expense. I am sure the RPII will be grateful to you for that. Why in tarnations do you think I did not file QT or a lawsuit against them? Why do you think BAC and BOAna never filed FC against us after we stopped payments in 2010 and hired an attorney?

  8. Who said they want MERS removed…..? They are foreclosing on MERS…

  9. It is criminal & clears the way for their arrest for numerous felonies…such as…concealment, fraud & deceptive practices..

  10. The crooks said… we don’t have the docs so, we will join the defendants and sue MERS….If I could make that up I would be a criminal mastermind.

  11. Go ahead and Laugh your way right our of your home Idiot! The servicer for the RPI! Of course you and the RPI want Amcore and MERS removed. It clears the way for the RPI to come in and get cha! hahaha … keep up the Good Work Fool!

  12. I don’t know what I am doing….? LOL.. Did you read what I said or are you pretending you are ignorant or are you ignorant and illiterate…? It really doesn’t matter…it’s all a lot of b.s…Hire a whatchamacallit attorney for what? To stop the servicer from suing MERS…? LMAO…

  13. Just what I said …… hmmmm..

  14. Allonges transfer nothing…..it’s like having a piece of paper with a signature on it and saying this endorsement belongs to that check…..gotta prove it….otherwise it’s just a piece of paper with someones name on it…in reality it’s forgery & counterfeiting to gain unjust enrichment by imposters; fictitious payees……felonies by felons…..

  15. By the way Christine, I am not a Coward! I am the Bait!

  16. Stripes, to me it sounds like you do not know what you are doing. Might I suggest you get an Attorney without biting my head off? The Servicer for Who? enjoined with you? HMMM

  17. In 2010, BOA tried to sneak in and get FC in CW name before SOL expired. We paid our taxes into escrow, but got tax bill and NOD from BAC. Now BOAna claims to be the owner…. and by their buttwipe buddies at MERS managed to destroy our title.

  18. Charles, … We had a title abstract done after discovering the CW 08 LP had not been released. (CW case was voluntarly dismissed, but the LP was NOT) Dag Gone It … CW was not mortgagee at the time of the filing of LP in 08. Dag Gone It … CW in its 08 court filing claimed to recieve the Note via 1st Advantage Mortgage, a copy of the Note was attatched with No Allonge or Assignments. ( I have the origional Allonge from closing file) 🙂 ….. See what we get for trying to fix their mistake?

  19. The servicer is not foreclosing on me….the servicer joined me, the defendant, to foreclose on AMCORE BANK N.A., now a “failed bank” which is now reincarnated as AMCORE BANK N.A. MERS…..the servicer and me are foreclosing on MERS…How about that for a freak show circus…? Now tell me this isn’t the biggest bunch of b.s. ever…? Bottom line …. the case should have never been allowed.

  20. @guest the Note can’t actual go to MERS along as MERS is not the mortgage lender and want as a party that act for the lender in assign the security interest (mortgage, deed of trust, security deed). It the broker did not fund the loan themselves on a warehouse loan which at that time the loan belong to the broker who may list MERS as the beneficial for the lender. Or the broker sign the up as a CW loan just as if they work as a arm of CW and MERS was placed on the security instrument.

    Have a title search done and let a local title company search the local land recording records. Remember as MRES does not have a financial interest in your loan at all and is only working for the lender. So you need a copy of the Note the way it today, and see the endorsement to see if CW purchase the loan from the broker, and if BOA purchase it form CW. The broker if they funded the loan must have recorded the security instrument first to empower MERS in the first place. Now if the broker sold the loan first and did not record the security instrument before it sold the loan, the security instrument would never be valid because the broker after the sale cannot do anything because it no longer has a financial interest.

    But you have to check with your state statute on titling to see about the transferring of the security instrument. Your hope is that there was a blank endorsement and not sell, because if they simply sold the loan and MERS was having it assign from purchase to purchase, you got not much there. But if you no recorded security instrument it like having a non secure loan that not attached to the property.

  21. RE: Bank of America has flagrantly violated its 2012 consent order with 49 state attorneys general, the Department of Justice, HUD, the Fed, Treasury, and other agencies. And one reason why may be that it is on schedule with its plans to have disposed of the servicing of virtually all Countrywide loans by the end of March. Perhaps it figured no one would be able to identify and charge it for these abuses before it handed the loans off.

  22. Thursday, February 21, 2013

    New Whistleblower Describes How Bank of America Flagrantly Violates Dual Tracking, Single Point of Contact Requirements in State/Federal Mortgage Settlement

    Remember that big, ballyhooed mortgage settlement of early last year? The one where homeowners got $25 billion of relief (well actually only around $5 billion in cold cash, but why bother with pesky details?) The one made possible by Eric Schneiderman abandoning his fellow state attorneys general to grasp the brass ring of a do-just-about-nothing Residential Mortgage-Backed Task Force? The one that would make banks clean up their act and stop using robosigned documents and deal more fairly with borrowers?

    Specifically, that agreement provided for strict limits on one practice, dual tracking, and the creation of a new one, single point of contact. Both relate to mortgage modifications. Dual tracking is when a bank starts and continues to advance the foreclosure process at the same time a borrower is being considered for a modification. That play out badly for a lot of borrowers during HAMP mods, when they would receive foreclosure notices, get understandably freaked out, since they had a modification application in with their servicer, and would typically be told to ignore the foreclosure mortgages. That was bad, and perhaps deliberately duplicitous advice, since many people lost their homes that way. Single point of contact is the requirement that a bank provide one person for a borrower to deal with during the mortgage modification process.

    Consent orders are seldom worth the paper they are printed on. The state/Federal settlement of early 2012 is no different. In servicing, consent orders have repeatedly been violated, in part because servicer economics favor having the banks cheat now and pay not-punitive-enough fines later, in part because their systems are so bad that it would be difficult for them to shape up even if they had a change of heart.

    But according to the report of an employee who worked in the servicing area in 2011 and 2012, Bank of America has flagrantly violated its 2012 consent order with 49 state attorneys general, the Department of Justice, HUD, the Fed, Treasury, and other agencies. And one reason why may be that it is on schedule with its plans to have disposed of the servicing of virtually all Countrywide loans by the end of March. Perhaps it figured no one would be able to identify and charge it for these abuses before it handed the loans off.

    Let’s first turn to alleged dual tracking offenses. The banks are known to be welching on their consent orders. California settlement monitor Katie Porter reported that a full 25% of the complaints her office received were about dual tracking. Even thought the number of complaints is half the former level, dual tracking should have stopped entirely. Similarly, national settlement monitor has blandly ‘fessed up that gambling in Casablanca dual tracking continues

    Read more at http://www.nakedcapitalism.com/2013/02/new-whistleblower-describes-how-bank-of-america-flagrantly-violates-dual-tracking-single-point-of-contact-requirements-in-statefederal-mortgage-settlement.html#AMrOORsJhr9cTZzJ.99

  23. FYI … BOA dumped LPS property inspection, preservation and title services for REO properties. They now use Safeguard Properties LLC out of Ohio, the company Chase and Citi use. Google Them …. Dirty Birdies! Phooey!

  24. Charles, the loan funded Nov 23 07. First payment due Jan 08. CW could no longer pool the loans with the trusts or Ginnie Mae. *Grins* They defaulted the loan on CW books in Jan 08 on the 1st payment according to payment history recieved via attorney. The Note was never transferred to CW from broker according to Mers assignment on Title, The Note went from broker to MERS, from MERS to CW, then from CW back to MERS, from MERS again to BAC to BOAna.

  25. Sold and swapped or landed in the lap of are not the same things.

  26. @guest the loan being sold to CW as usual either a broker or correspondent bank, but what you got going for yourself is that CW was not turning the Notes over to Trust wit any of there loans and there was a whistleblower case that exposed this fact.

    Now I would still bet that the loan was in Ginnie Mae pool and when BOA took over the CW portfolio in the sale. But if it was in the Ginnie Mae pool CW could not sale the loan to BOA because the Note was blank and endorse and while with CW the trick was that these that these lenders turned into servicers acting as custodians for Ginnie Mae and they try to cloud the issue of UCC 3 as to physical possession never really happen, but I say it did because CW turned into an issuer of the Mortgage Back Securities and at the point started also acting for Ginnie Mae as their custodian so they did physically exchange the blank endorse Note.

    I would request a copy of the Note, and a if the FHA is taken your side in this tell them to make BOA product the Note, because its the FHA that would buy the property at the foreclosure sale so I am sure what they are asking for they will get.

    But it appears that FHA is smelling the coffee, and see that they been tricked into purchasing and losing $70 billion in loan losses. Here is my email blackstarborn@yahoo.com

    Even if the loan was not placed into a Ginnie Mae but place into some trust, CW was not turning over the Notes to the trust when they should have been.

  27. The crooks now say we owe…$550,000.00……CURRENT PROPERTY VALUE….WHATEVER THE VULTURES WILL PAY….MWAHAHA…..

  28. Calling Charles reed what is your contact info mixed up with Ginnie Mae and have taken an interest in what you say

  29. WE PUT $100,000 CASH DOWN ON OUR ORIGINAL HOME PURCHASE IN 1992…..and paid $550,000.00 in usury on $192,000.00 since 1992…

  30. E. ToLLe,

    When you have a sec, please view all those videos. I made a big deal last year about not doing a tax return without really knowing why i had such a strong feeling against it. But I also felt that, having nothing, i really had nothing to lose. Still the case today…

    Those 4 IRS people, Jackson, Turner, Bannister and Benson, studied the tax code and absolutely, unequivocally and undoubtedly proved why self-employed people shouldn’t bother with a tax return. Tougher for someone getting a pay check since it is automatically deducted.

    What i find remarkable is that has been going one since 2000. Only today are those videos readily accessible. Something else for OWS.

    Thank Gawd for OPPT!

  31. THE ONLY CASH ANYONE RECEIVED IN A REFI WAS YOUR OWN EQUITY……BANKS DON’T LEND MONEY……THEY COLLECT INTEREST PAYMENTS ON OUR OWN EQUITY AND POCKET THOSE PAYMENTS AS USURY ON MONEY THEY DON’T LEND….WITH THOSE REFIS AND TACK OUR OWN EQUITY ONTO THE ORIGINAL PRINCIPAL…..THAT IS HOW THEY DESTROY THE VALUE OF YOUR PROPERTY…..

  32. The IRS needs to go after TBTF…..They have stolen $60.4 trillion dollars since 2008 from U.S. TAXPAYER’S REPORTED CNBC.

  33. Charles, the purchase loan was broker/MERS. (There was no existing mortgage to be paid off by the seller, she recieved CASH). The servicing went to CW, BAC and now BOAna.

  34. FOX BUSINESS REPORTING 5 BIG BANKS CUT $19 BILLION IN MORTGAGE DEBT..

  35. THE TBTF FED DEFAULTED…..THAT MEANS SECURITIZATION NEVER OCCURRED….THAT MEANS THESE NOTES AND MORTGAGES WERE ALL DESTROYED BEFORE YOU WERE EVER FRAUDULENTLY INDUCED TO AUTOGRAPH ANYTHING…THE PENSION FUNDS WERE SOLD INVESTMENTS IN NOTHING….

  36. TBTF WILL NEVER DISCLOSE ANY DOCUMENTS ….BECAUSE THEY DON’T HAVE ANY DOCUMENTS BECAUSE THEY NEVER PAID FOR ANYTHING……….THEY ARE COVERING UP THE FACT THE ORIGINAL TRANSACTION NEVER OCCURRED…..A BANK ATTORNEY TOLD ME THERE IS NO DISCOVERY….THERE ARE NO TRUSTS & THERE ARE NO TRUSTEES…..ANY ATTORNEY OR JUDGE OR ANYONE TELLING YOU OTHERWISE ARE LYING TO YOU….

  37. John Turner, No.4. All those guys used to work for the IRS. They were all pursued criminally or silenced one way or another.

  38. Do your research. This is No. 3

    FEDS DESPERATE TO SHUT UP BILL BENSON

    By: Devvy

    September 19, 2005

    NewsWithViews.com

    Bill Benson, for those who don’t know, is the individual who holds the 17,000 court certified documents that prove beyond any doubt that the Sixteenth Amendment to the U.S. Constitution was never ratified. The IRS uses the Sixteenth Amendment, supported by cowardly federal judges, to defraud the American people of the fruit of their labors via the income tax. Those of us who have studied this issue know their position of relying on the fraudulently ratified Sixteenth Amendment is a lie, but most Americans don’t understand their trickery.

    For those who may not be up to speed on where this income tax forced from you by threats and coercion goes, I encourage you to read one of my recent columns here. Many find this truth shocking, but it is the truth and you will see the document in that link. There are a couple of links in that column that you should also study, along with a document I wrote years ago titled ‘Why an Income Tax is Not Necessary to Fund the Federal Government’. Research is time consuming, ask me. However, it is only through research do we learn the truth, which will in turn, prompt Americans to reject the blatant lies told by institutions of higher education, politicians and special interest groups.

    Right now my dear friend, Bill Benson, is involved in a major court battle with the feds. Despite his very serious health issues, this lion is not about to give up the fight. The latest brief on this critical case can be found here. I encourage everyone to read it and disseminate it to all of your mailing lists, members of Congress and your state legislatures. Bill is being represented by Jeffrey Dickstein, who was lead counsel in Joseph Banister’s criminal case; Joseph was acquitted on all charges and the IRS was handed a bloody loss. What this lawsuit by the feds against Bill amounts to is the complete and total destruction of free speech. This lawsuit against Bill is to crush the truth using the full force of the federal government. This lawsuit is to keep the truth Bill has uncovered away from the American people.

    Thousands died to birth this republic (we are NOT a democracy). Those incredibly wise men who wrote the Constitution and Bill of Rights knew how important freedom of speech is for a free people. What the government is doing to protect the big lie of the income tax is not only shameful, if they succeed, we are all in even more peril than the average Dick and Jane can imagine.

  39. And again… Joe Bannister.

  40. After Sherry Jackson, Joe Bannister who, also, got indicted for blowing the whistle on the illegitimacy of the IRS. I don’t care how fearful people are: the truth is the truth and it is coming out thanks to people with moral courage.

    Thanks to OPPT and a handful of brave crusaders, we now have more and more ammos to fight the insanity we’ve allowed all those decades.

  41. Very lengthy decision. Worth reading from A to Z.

    http://www.msfraud.org/law/lounge/jolley-v-chase_reversed_wamu-liability_2-13.pdf

    JOLLEY v. CHASE HOME FINANCE, LLC
    SCOTT CALL JOLLEY, Plaintiff and Appellant,
    v.
    CHASE HOME FINANCE, LLC et al., Defendants and Respondents.
    No. A134019.
    Court of Appeals of California, First District, Division Two.
    Filed February 11, 2013.
    Law Offices of Vernon Bradley, Vernon Bradley, Attorney for Plaintiff and Appellant.
    Law Offices of Sohnen & Kelly, Harvey Sohnen, Patricia M. Kelly, Attorneys for Defendants and
    Respondents.
    CERTIFIED FOR PUBLICATION

    The Fourth Cause Of Action, For Negligence
    The trial court granted summary adjudication on the fourth cause of action, for negligence,
    essentially finding no duty. The order read as follows: “`Under California law, a lender does not owe a
    borrower or third party any duties beyond those expressed in the loan agreement, except those
    imposed due to special circumstance.’ (Sipe v. Countrywide Bank (E.D.Cal. 2010) 690 F.Supp.2d
    1141, 1153, citing Nymark v. Heart Fed. Savings & Loan Assn., (1991) 231 Cal.App.3d 1089, 1096.)
    . . .” We conclude there was a triable issue of material fact as to a duty of care to Jolley, which
    potentially makes Chase liable for its own negligence.

    We conclude that the determination that Chase owed no duty to Jolley was error. Thus, the
    summary adjudication on the negligence cause of action must be reversed, as it was in Laabs v.
    Southern California Edison Co. (2009) 175 Cal.App.4th 1260, 1269 where the Court of Appeal held
    as follows: “We note, however, that we do not hold that SCE owed Laabs a duty of care as a matter
    of law; rather, we hold that triable issues of fact exist as to the relevant considerations underlying
    duty in this case, and that SCE failed to establish that it was entitled to judgment as a matter of law.
    While we recognize that the issue of duty is a matter for the trial court, it is nonetheless a factually
    oriented inquiry. As stated in Burger v. Pond (1990) 224 Cal.App.3d 597, 603, `”Foreseeability” and
    “policy considerations” are not determined in a vacuum, but rather depend . . . upon the particular
    circumstances in which the purported wrongful conduct occurred.'”
    C. The Fifth Cause Of Action, Violation Of Business And Professions

  42. From Deadly Clear (Can’t post the link: LL won’t allow it. Just Google Deadly Clear)

    Bloomberg Terminal Iceberg – Tortious Interference?
    Posted on February 20, 2013

    Who Forced BLOOMBERG TERMINAL To Shut Down ALL Audit Service Providers? Can You Say Tortious Interference?

  43. Tonight

    http://www.blogtalkradio.com/discoverytactics/2013/02/22/strategy-no-3–securitization–the-truth-about-your-loan-2

    Strategy No. 3 – Securitization – The Truth About Your Loan!

    Knowing the life of your loan from inception is not an option, it’s a requirement to any proper litigation defense or offensive. Attorney’s throughout the country are failing and continue to be the cause bad case law because they don’t have all the facts of a mortgage loan at their disposal. It’s no coincidence BLOOMBERG has not only disabled its loan level searching function, it has also begun to cancel its contracts with Securitization Audit Providers. Why has BLOOMBERG done this? It has become clear having access to loan level information opens the doors to facts about YOUR loan that can help YOU and hurt THE BANKS!

    Join Litigation Discovery Expert and Strategist Anthony Martinez this Thursday February 21, 2013 at 8:00pm as he discusses how knowing the life of a mortgage loan is a critical component to fighting the good fight. Learn why attorneys are waiving YOUR rights in litigation right from the start and what’s next for loan level data searching. In this episode we will touch on:

    – How to find out if your loan was securitized;
    – The right audit company vs. the wrong audit company;
    – Do it yourself tools available to you;
    – Making sure YOUR attorney doesn’t waive YOUR rights that can cost you YOUR case;
    – Why some attorneys do think much about securitization audits;
    – Avoiding scams;
    – Lateral thinking – The Moral War is not the Art of War – The beginning discussions of not leaving the answer to the people’s problems in the hands of lobbied government; and
    – Much more!!!

  44. @guest if your FHA loan was not placed into a Ginnie Mae pool, which 5% or so are not, do a title search on your property to see who it was titled too.

    Ask BOA through the OCC to fax a current copy of the Note as it looks today and if that Note has a blank endorsement then you and the FHA need to ask who it was endorsed too.

    Was the loan originated by BOA?

  45. More on the scam to steal our Constitutional Republic here…..
    http://www.fourwinds10.net/

  46. When Rahm Emanuel took office he said he wanted to privatize the Chicago Police force…..they are manufacturing a crisis in Chicago to turn Chicago into a private militarized zone…..these crooks are planning on bringing blackwater in here…where in the hell are the U.S. GOVT….? Are the tied up in the basement of city hall….? WTF? What the hell Sheriff Dart…? you have the power to stop this….

  47. The bottom line….. TBTF are vultures and are outright stealing what they never paid for and destroyed the value of. The FEDERAL RESERVE BANK is trying to cover this up by repurchasing their own garbage with more stolen U.S. TAXPAYER MONEY…

    Talking to a neighbor the other day who told me TBTF stole his sons tax refund money to pay his student loan debt….WTF….? THESE GREEDY BASTARDS ALREADY GOT PAID…..!

  48. The TBTF securities fraud ponzi scheme failed at its inception because it was created to fail…they were never securities they were FED DEFAULTS……TBTF were overissuing investments in uncertificated instruments on Wall Street because of the ORIGINATION FRAUD & TBTF were defaulting and selling us out starting in 1982…..way before the smoke & mirrors repeal of Glass-Steagal in 1999…..this is why they changed the PIN number’s in 2000 in Cook County to cover up TBTF were engaging in this securities fraud on Wall Street since 1982….These communist agents controlled the Federal Government via the SEC & the GSEs, & the FDIC to keep the U.S. GOVERNMENT OUT OF THEIR SECRET OVERTHROW….HOWEVER, TBTF NEVER PAID FOR ANYTHING & THE PROOF IS AT THE RECORDER OF DEEDS OFFICE…..THIS IS WHY THE U.S. TREASURY NEVER ALLOWED THE TITLE COMPANIES TO SECURE A LIEN ON OUR PROPERTY……A RECORDED MORTGAGE IS NOT A LIEN WITHOUT THE RECORDED LEGAL ASSIGNMENT ……. TBTF ARE STEALING BY FRAUDCLOSING ON PROPERTY THEY NEVER PAID FOR & DESTROYED THE VALUE OF ON WALL STREET..

    THE JUDGES ARE RUNNING U.N. BLACK OPS IN THE CIVIL COURTROOMS & INVESTING IN THE FRAUDCLOSURE ROBBERY OF WE THE PEOPLE…

    THE JUDGES ARE DIRECTING THE FRAUDCLOSURES FOR THE OWNERS OF TBTF…

    THIS IS TBTF CORPORATE CRIME & GREED ON STEROIDS…..

    BLOOMBERG NEWS REPORTING FRAUDCLOSURES ARE WAY DOWN….INVENTORY (THEFT) HAS BEEN WELL HIDDEN…

    TBTF NEED TO BE SUED BY US & FORCED TO GIVE BACK EVERYTHING THEY STOLE PLUS MONETARY COMPENSATION FOR HARM DONE & HARM INTENDED.

  49. Guest,

    You need to re-read the MERS Membership rules.

    1. If the loan is transferred to a Non MERS member, there is no requirement to deactivate the loan, if the Non MERS member does not request it to be deactivated.

    2. There are only two times that a MERS loan is required to be deactivated.

    When the loan is assigned by MERS to any entity, the loan must be deactivated.

    When the loan servicing is transferred to a Non MERS servicer, it must be deactivated,

    3. A non MERS loan can be registered at a later date by a servicer, even if the investor is not a MERS member.

    This all goes to the Nominee argument and whether Nominee creates a true agency relationship with the original lender. After that, all revolves around the Servicer. Then, one must look at other Securitizations documents to further explain what is going on?

    Does this make sense? That is for a Court of Law to decide.

    I am trying out new theories on how to address this, but until it is ruled upon, there is no telling how it will go.

  50. Obama is working handily for & with TBTF…

  51. The judges aren’t buying the argument because they are invested in the TBTF fraud……& so are the cops pension funds. They think they have to keep the ponzi scheme going but, the ponzi scheme failed at its inception and cannot be sustained. There is too much debt created by these TBTF crooks & not enough revenue to keep the scam going. TBTF INTENTIONALLY DESTROYED THE ECONOMY & STOLE & SENT ALL OF OUR WEALTH & LIVELIHOODS OVERSEAS…..TBTF MONOPOLIZED THE FREE MARKETS WITH OUR STOLEN WEALTH….

    THE JUDGES ARE ALSO HIDING THEIR IDENTITIES INSIDE OF LAW FIRMS IN CHICAGO & BUYING UP OUR STOLEN FRAUDCLOSED PROPERTY VIA INVESTMENTS IN FICTITIOUS TRUSTS & OTHER DISGUISES & ARE SELLING OUR STOLEN PROPERTIES VIA SHERIFFS SALES & FORECLOSURE AUCTIONS…..THEY NEED TO BE ARRESTED.

  52. Precisely why the FEDERAL RESERVE SYSTEM needs to be sued for robbing the American people into fraudulently induced poverty and abolished and our own currency issued.

    Obama really needs to stop lying for these TBTF crooks and their unsustainable fraudulently induced debt…..THEY ALL GOT PAID BY US AT THE ORIGINATION, MADE GAZILLIONS AND CONTINUE TO ROB THE AMERICAN PEOPLE UNDER THE GUISE OF MONEY OWED THE GOVERNMENT’S WHILE THEY CONTINUE TO ROB THE AMERICAN PEOPLE & THE GOVERNMENTS….TBTF HAVE INTENTIONALLY ROBBED US & DESTROYED THE WEALTH AND VALUE OF EVERYTHING WE THE PEOPLE ALREADY PAID FOR & THE ROBBERY CONTINUES UNABATED.

    Local news in Chicago reporting Generál Honore of hurricane Katrina fame has been brought in for consulting on the gang problem in Chicago to “ease the burden” on Chicago Police. We are in real trouble now. The only crisis here is the fraudulently induced poverty these TBTF crooks have caused and these crooks are intentionality blaming the wrong people. THE COPS & THE MILITARY SHOULD BE ARRESTING THESE TBTF CROOKS.

    THE U.S. GOVERNMENT ….. WE THE PEOPLE …..NEED TO SUE THESE TBTF CROOKS WHO DELIBERATELY CAUSED THIS MESS….

  53. Poppy,

    I agree with you. The judges are not agreeing with us. My attorney brought up the inaccuracies and contradictions in the PSA versus my DOT and mortgage note. The judge didn’t care. The opposing attorney stated we were not a party to the PSA documents and could not bring it up. The judge obviously agreed when he dismissed my case. Many of the judges are not buying the note was converted to a bond even when plead correctly.

    I have some questions about this ResCap bankruptcies. My mortgage was sold into a “RALI” trust owned by ResCap. So later down the road when it is verified that these trust were bunk will I have a case for wrongful foreclosure on new grounds? I am in AZ.

    You have to “preserve” your rights prior to the trustee sale in AZ (under statute) but when new evidence is made public after the fact is that new grounds for wrongful foreclosure?

  54. Speaking of taxation, from Bloomberg:

    On television, in interviews and in meetings with investors, executives of the biggest U.S. banks –notably JPMorgan Chase & Co. Chief Executive Jamie Dimon — make the case that size is a competitive advantage. It helps them lower costs and vie for customers on an international scale. Limiting it, they warn, would impair profitability and weaken the country’s position in global finance.

    So what if we told you that, by our calculations, the largest U.S. banks aren’t really profitable at all? What if the billions of dollars they allegedly earn for their shareholders were almost entirely a gift from U.S. taxpayers?

    $83 Billion Dollar Gift To the Banks – It’s Pitchfork Time

  55. The FEDERAL RESERVE SYSTEM has been used to rob and control US….We need to stop cooperating and sue abolish these crooks….JP MORGAN CHASE/BOFA are the root of all evil…we need tonissue our own currency.

  56. They have definitely been very insidious here poppy….and have emerged under the name TBTF…..and are not the Government(s). They are totalitarian control freaks, self appointed dictators disguising socialism/communism/totalitarianism as Democracy. America was never a Democracy….America was always a Constitutional Republic…..

  57. And here’s the other thing: when you convert a mortgage to a securities instrument, by posting a bond for your debt, you no longer have a viable, collectible mortgage. The mortgages have been sold based on the “future” value of them, if the “renters” (us, the homeowner’s) continue to pay…great…if not, here, we have a problem.

    Now, the only way to collect is to lie, forge and manufacture documents to make it look like a lien has been perfected on our homes. It ain’t so, I say! I also say, you sold MBS’, purchased and bet on the mortgages with CDS, all while knowing the losses were imminent and now you go to court and ask for relief for something that was “intentionally” created to make you very, very rich! Bull Shit all of it!

  58. This is what the message of Fatima warned about…..if you don’t believe in prophecy than you can take it as inside the Vatican info….If communism was not brought down in Russia, communism would spread its errors throughout the world….Reagan/Pope John Paul II failed to bring down communism. However, Russia is more smoke & mirrors and are all in the same game. Russia symptom of a greater problem that has infiltrated every nation…Communism has been disguised as something good called Democracy and the FEDERAL RESERVE BANK/TBTF/SOCIAL JUSICE and it is nothing good…..it is pure evil…..and as a result, communism’s ultimate goal of totalitarianism is on our doorstep.

  59. “And not ONE PENNY of our federal taxes is going to us”…

    … yet, people keep sending the IRS money. Sherry Jackson went to jail so that people would smarten up. There are dozens of former IRS agents telling it like it is and videos circulating everywhere about the IRS racket. OPPT debunked the entire system. And yet… people dutifully file their taxes with a check when they owe. On 4/15/13, they will all cram to finish their 1040 on time. They even pay CPAs to make sure they pay everything they are alleged to owe based on… what?

    I, personally, am claiming all my money back for the last 30 years. It’s been misuse in wars I never wanted, bank bailout no one asked me about, torture and foreclosure of millions, etc. I got better plans for my money.

  60. And, the Rothchild’s? The Vatican, The Koch brother’s, etc…then the COMMINGLING of commercial bank entities with residential bank originators, where they could bet on the investment securitites on a large scale…this behavior started in the late 1800’s, in small betting parlors, my memory here..forget what they called them.and deemed illegal around the time of the great depression, as they like to call it.

    Allowing the residential rules to be modified and changed, so banks could now use commercial instruments, sold in the market place started this. If you stayed with a “portfolio” loan, in house mortgage, one loan for one house, specifically, this would not be a problem.

  61. That’s right poppy….the black nobility/mergovian dynastic bloodlines that hide behind the cloak of the Vatican and whose bloodlines tie into all U.S. Presidents. The monarch of Spain Juan Carlos runs the Vatican and has for over 500 years via the Jesuits. This has always been about world domination for these self appointed rulers and they despise the U.S. Government & the U.S. CONSTITUTION & THE U.S. BILL OF RIGHTS and all of the laws of this land that protect the American people. That is why TBTF fakes ignorance of the rule of law in America. That is why the banksters want US to believe they loan US something of value….that is a BIG LIE….ARTICLE 1; SECTION 10 OF THE CONSTITUTION PROTECTS US FROM THEM….

  62. The Plutocrats/Oligarchs secretly repealled Glass-Steagal in 1982 under Reagan-Bush……they knew they would have to destroy the value of everything we pay for and it would take 25 years to succeed. All of this destruction came under the Bushes and was covered up by the corrupt alinskyite Clintons and now Obama and all of his radical Democrat minions & cohorts in the Democratic underground.

  63. The banks are not getting payments people and the Vatican, IMF and the federal reserve is using OUR money, believe it or not! And not ONE PENNY of our federal taxes is going to us, it goes to the Federal Reserve, for them to use, at their discretion. Lot’s of research here…

  64. This manufactured depression is a vendetta against the U.S. GOVT FOR IMPLENTING GLASS-STEAGAL..THE MAIN CULPRITS HERE….J.P. MORGAN CHASE….

  65. There must be at least 500 e-mail addresses on this thing and, once again, it has now become viral. No more excuse for the status quo. We have the weapons, we have the knowledge and we have the power in the numbers. The choice is simple: either we take the lead from here and we keep our aura of respectability or… we fail to take the lead and this is it.

    Make no mistakes: the first country who discloses the truth will become the world leader. Simple. Why? Because it will be the country that restored trust in people. Demand full disclose on corporations, government, money, Ufos and everything. Write one e-mail and forward it to all those people. Really, really simple.

    So you want to contact the media and government?

    Posted on February 20, 2013

    WEDNESDAY, 20 FEBRUARY 2013

    So you want to contact the media and government?
    OH. MY. GOD!

    Whomever put this together….. we love you!!!

    Posting here just in case, you know…. you feel like sending a few emails to the media and government.

    A huge thanx to Rumour Mill News for putting this out there: http://www.rumormillnews.com/MEDIA_EMAIL_ADDRESSES.htm

    MEDIA EMAIL ADDRESSES
    This page of email addresses is NOT designed to be used to send individual emails. It is designed so you can copy and paste them into your emails! This could be compared to sending a bulk mailing via the post office!
    THE PREFERRED WAY
    There is NO preferred way to use this list. Some people send emails to their Congressional Representatives and CC (copy) all the media email addresses.
    Other people prefer to BCC (Blind copy) the email addresses. The reason for this is because they want whoever is reading the email to actually READ what they have to say! With thousands of email addresses appearing BEFORE the actual message, it is less likely the Congressional staffer will ever read the email, therefore your email may NEVER be counted!
    If you want to let your Congressional Representatives know that you have also emailed the media, you can now include the link to this page and write a p.s. at the bottom of your email telling them you have BCC’d the email to thousands of media people!

  66. TBTF ARE GETTING THE PAYMENTS POPPY….THE OLIGARCHS ….. & THE PLUTOCRATS…..THEY ARE NOT A GOVERNMENT, THEY ARE A FRAUDULENTLY INDUCED MONARCHY…

  67. TBTF cannot own what they never paid for. There are strict laws that have been wantonly ignored for decades by TBTF. Clinton tried to Conceal the wanton criminal fraud by TBTF after the fact, by repealing Glass Steagal in 1999. As a result of that Deception by the Clinton administration, the assault by TBTF on the American people gained momentum, that act of Treason by Clinton sent a clear message to TBTF….. they overthrew the Government(s) by infiltration by the communists and the Alynskiites were running the country. This message carried through the Bush administration who have direct ties to Naziism. TBTF used smoke & mirrors to fraudulently induce Corporate control by monopolization….all funded by WE THE PEOPLE….

    TBTF are simply outright lying to the American people about everything.

    If you go back to the last manufactured TBTF Great Depression and the J.P. MORGAN…. GUARANTY TRUST….merger that was reigned in by the introduction of Glass Steagal that pissed off the banking Oligarchy by separating commercial banking & investment banking and hurled TBTF on its big fat head.

    The TBTF oligarchs simply bought off Glass-Steagal in 1982 under Reagan/Bush and ignored it and did what they wanted. The TBTF OLIGARCHS wanted COMPLETE CONTROL and knew they first had to destroy the value of the Currency by the removal of the Gold Standard by F.D.R……Nixon swapped the U.N. credit for our land which we did not need their credit…..it was all a smoke & mirrors black op hijacking of our land that gave TBTF a forever revenue flow to our land……NOTICE J.P. MORGAN COLLECTS THE PROPERTY TAX MONEY FOR THE TBTF OLIGARCHS………

    The continuum of the smoke & mirrors plot to destroy the value of everything WE THE PEOPLE FUND came under Reagan and was put on steroids by Clinton…..and the complete destruction of our economy came under Bush and his fake ignorance routine. The UPTICK RULE was removed in 2007 by the SEC which allowed the OLIGARCHS to INSIDER TRADE THEIR GARBAGE into oblivion in 2008. Obama, an Alynsikiite, was put in place to install the TBTF dictatorship and the Nazi Republican party are part & parcel to it.

    There is no denying this TBTF plot against our Constitutional Republic was well planned by these TBTF Oligarchs and it is all a smoke & mirrors sham & a giant fraud. This is all being achieved by mind control….making everyone believe the BIG LIE that banks lend US money…..that is absolutely a BIG FAT TBTF LIE….

  68. http://sherriequestioningall.blogspot.ca/2013/02/new-times-square-billboards-start.html

    Times Square Billboards!! LOVE IT!
    Whomever [sic] you are that created these amazing billboards…. I love you!!!!

    THURSDAY, FEBRUARY 21, 2013

    New Times Square Billboards for the media “Start Telling the Truth – STOP Censoring the News”

  69. Corelodgic and 1st American Title! Yep! Yep!

  70. No one aid THEY were the government. But the government is getting the payments, not the banks. They give the appearance of “live” entities and are not owners of anything. But, remember, when you signed the note, with your lawyer who is a “notarized” representative of the ABA, a union, he is representing another party, NOT you.

    Your contract was based on a bond, debt, which you gave them permission to enforce, under certain conditions, which have not been met, on their end.

    Now, having said that: the false pretenses are the issue, by which they are taking your home, based on the lack of consideration, money, that does not exist herein. In the majority of cases a bond was used, not money to tie the debt to you and I. This is NOT proper consideration, in any way, shape or form.

  71. What we know is the loan was removed from MERS system. It was never registered with the SEC or with Ginnie Mae to be pooled.

  72. TBTF are NOT the Government. You cannot have ownership of anything in America by Indorsement, Instruction or OverIssue……you have to perform on the contract……the contracts never existed because they were misrepresented at the closing ……. there are no legal agreements and there never were.

    The FED collecting & pocketing payments is not Performance because these contracts were misreprepresented at the closing…..THAT IS CRIMINAL FRAUD…

    THE TRUTH IS…..EVERYTHING IS MISREPRESENTED IN THIS COUNTRY TODAY AND EVERYTHING IS THE POLAR OPPOSITE OF WHAT IT APPEARS TO BE.

  73. I do not know how BOA “owns” your loan? If it’s Countrywide, servicing rights ONLY. And N.A.’s (national associations) have rules and lending is not one of their permitted/allowed activities.

    Sometimes corelogic is paying some of this stuff. The CEO of corelogic, f/k/a first american bank, f/k/a first american title, operated by Theologides, former lead counsel of New Century and affiliated with Morgan Stanley, Credit Suisse, etc…

    As for Ginnie Mae, I have Freddie on mine? The best I can glean is they are paying for and pushing the foreclosure.

  74. @Charles, our loan was never registered with Ginnie Mae. Confirmed by FHA. No Claims as of Date. They say someone has been paying the FHA premiums but they do not know who. FHA has enjoined us against BOA. No payday for them! Now BOA says it was always a bank owned loan. Ok then ..

  75. The deceptions & lies need to stop. These are not loans and the banks aren’t buying them. They are swapping destroyed instruments that were destroyed even before we autographed the fraud …. they destroyed the value of what they were inducing us to sign by non disclosure and they misrepresented what they were giving us to sign. The FED knew they were going to default in our names and hand this garbage over to Wall Street & destroy the value of everything by overIssuing investments in these frauds. Let’s have some honesty here.

  76. The title is corrupted. And it is in possession of the Federal Government. No private entity has them anymore.

  77. MERS does not have valid claim of any power of Ginnie Mae pooled loans because Ginnie Mae is in possession of the blank Notes, and Ginnie Mae not a lender and is not a member of MERS as a lender. MERS cannot act for Ginnie Mae in a mortgage lender capacity.

    People have focus on Fannie Mae & Freddie Mac which there are more moving part in their pooling, however Ginnie Mae being owned 100% by the Federal Government there are only the 3 parts to figure out the Fraud. Lenders/Issuers, Investors, Issuer where none of these parties have a financial interest once the Lenders/Issuers relinquish the blank Notes to Ginnie Mae.

    It a done deal that they folk are caught red handed!

  78. I guess I am old fashioned, for me it has always been about Where in Tarnations did our Escow Deposits go? And what in tarnations happened to our “Marketable Title” & why can I not get a “Warranty Deed”. ?

  79. Our MERS number used to mention the servicer, now it is gone! Let’s face it, the notes are ALL paid. When they made copies of the original notes, this is what has been sold, why do think the originals are not available? The blue-ink notes being moved around are copies, damn good ones too. Even if you could dig up an original, what does it mean or reference…if their is no assignment of rights? nada!

    The entire battle is drawn on the concept of you getting loan and not making payments. Well, what if you never got a loan? A wire transfer document shows “intent” not actual money being lent. The consideration is “everything”…no consideration, no contract! Contracts 101 and the lawyers know this.

    Essentially, say, New Century, who was broke and defaulted on everything; made me a renter. I make payments, to whom I really don’t know. Then copies of paperwork appear, years later saying we are protecting the trust that is extinct or never existed and the court wants to focus on your “fantasy” default. When they robbed investors, cheated the lender’s by filing chapter 11’s, gave non-lenders copies of notes, lied at the deed offices, held 2 sets of books, fabricated accounting to continue getting loans under false pretenses AND I am the criminal here? I don’t think so!

  80. So if our loan is no longer a MERS, who has the authority to release the MERS lien? The new owner of the loan, a non MERS member?

  81. According to MERS, when a loan is sold to a NON MERS member the loan is removed from the the MERS system. Is your loan still registered in the MERS system? Ours went to unknown invester before it was removed from the system a couple of years ago, Right after we hired an attorney to fix the title.

  82. I don’t know who mentioned the title company, but there it is. Many of the title companies have the DOT in their name and transferred the trustees, while many of them have paid the banksters claims on title, not us. If they paid the banksters, you have a claim too.

    One avenue many have not exhausted.

  83. Christine, their is an answer to the rent problem / credit rating. Rent swaps… lol. I suggested it to a botique firm on Wall Street back in 2010, and they simply said it was premature. Not by much though…

  84. Read about the Marshall Field/Saul Alinsky connection here…
    http://en.m.wikipedia.org/wiki/Marshall_Field_III

  85. The more questions we ask, the more shocking it all becomes…. Apparently, Marshall Field III, of the famed Chicago based Department Store Family, bankrolled Saul Alinsky.

  86. Christine says that Occupy Wall Street is just running wild with the OPPT story…and here’s why….THE LUCIS TRUST…WHO IS REALLY BEHIND OCCUPY WALL STREET…
    http://lunaticoutpost.com/Topic-The-Lucis-Trust-whois-behind-Occupy-Wall-Street

    Also google search the Lucis Trust…..

  87. The media reported the other day, fraudclosures are down 11% everywhere except they are up in Florida. Something certainly stinks down in the sunshine state.

  88. OPPT is nothing more than commie propaganda….CONTROLLED OPPOSITION…..WE HAVE A CONSTITUTION IN THE U.S., WE DON’T NEED A COMMUNIST CONTROLLED TRUST…..WE THE PEOPLE NEED TO SUE & ABOLISH THE FED & ISSUE OUR OWN CURRENCY…..U.S. BANK NOTES AS THE U.S. CONSTITUTION….THE SUPREME LAW OF THE LAND REQUIRES.

    YOU FLORIDIANS GO GET THEM……..Don’t let these TBTF commie crooks push you guys around…

  89. I am sure many of you already know, but with them attempting to put through the “faster” foreclosure process in Florida that really has nothing to do with ‘faster’ foreclosures and all to do with liability for the title industry. There is a petition that everyone really need to sign to get Tallahassee to notice they must not vote for HB 87 – http://signon.org/sign/kill-house-bill-87?mailing_id=9125&source=s.icn.em.cr&r_by=2854460

    Thanks Neil for all your work!!

  90. To all,

    Google “OPPT worldwide”. Page after page after page after page, in English, Russian, Chinese, Hebrew, Arabic, Hindi, Japanese and many, many other languages. Completely worldwide.

    OWS opened the door and I credit them for it. OPPT is running absolutely wild. Timing is everything.

    Moving in the right direction.

  91. MERS SCMERS….WHERE’S THE RECEIPT….? THEY DON’T HAVE ONE…SHEESE ….. OVER & OUT….

  92. So… there, we have it, once again. Different strokes, different folks. Kentucky nixed. PA said yes. Federal court either way.

    Go figure.

    Ballard Spahr LLP: Pennsylvania County Recorder Can Sue MERS for Failure to Record Mortgage Assignments, Federal Court Rules
    Posted by
    Ballard Spahr LLP

    By the Consumer Financial Services and Mortgage Banking Groups

    A Pennsylvania federal court recently refused to dismiss a putative class action filed against Mortgage Electronic Registration Systems (MERS) by a county recorder of deeds seeking to compel MERS to record past, present, and future mortgage assignments and pay the associated recording fees.

    In Montgomery County, Pennsylvania, Recorder of Deeds v. MERSCORP, Inc., and Mortgage Electronic Registration Systems, Inc. [enhanced version available to lexis.com subscribers], the court interpreted Pennsylvania’s recording statute to require, rather than merely permit, the recording of all conveyances. Although a mortgage is recorded naming MERS the mortgagee as nominee for the lender and its assigns, no assignment is recorded when the note secured by the mortgage is transferred to a new owner who is a MERS system member. Instead, the change in beneficial ownership is registered in the MERS electronic database. In addition to claiming that MERS’s failure to record assignments violated the recording statute, the plaintiff also asserted claims for civil conspiracy, unjust enrichment, and declaratory and injunctive relief.

    MERS had argued that even if the Pennsylvania statute required recordation, it could not be enforced through a private right of action. But the court found it unnecessary to reach that argument because, even though the complaint was not styled as a quiet title action, the court concluded that the plaintiff had alleged sufficient facts to proceed under a quiet title theory. Predicting that the Pennsylvania Supreme Court would hold that state law allows any person with an interest in a conveyance to bring a quiet title action to compel recordation, the court found that the plaintiff had shown such an interest. According to the court, because the plaintiff had alleged that her office would be entitled to the fees resulting from recording assignments of mortgages naming MERS the mortgagee, she had established a pecuniary interest in whether the assignments were recorded.

  93. Federal Appeals Court Upholds Dismissal of Kentucky Recorder Suit Against MERS
    Slade Smith
    2/20/2013

    A federal appeals court has upheld a district court judge’s decision dismissing a Kentucky county recorder lawsuit against MERS over unrecorded mortgage assignments.

    The lawsuit was filed in 2011 by the county clerks in Christian and Washington County, Kentucky. The county clerks alleged that MERS had illegally avoided paying recording fees, violating Kentucky recording laws and unjustly enriching themselves. They sought back fees plus interest and penalties, and an injunction forcing all assignments to be recorded. The federal trial court judge dismissed the case last February, and the county clerks appealed.

    The appeals court agreed with the district court’s reasoning that county clerks had no private right of action under a Kentucky statute that requires mortgage assignments to be recorded, because the statute was not intended to protect county recorders.

    The county clerks had argued in their appeal that even though the statute had not explicitly granted them a private right of action, they had a private right of action under Kentucky’s negligence per se statute. The negligence per se statute says that when a statute prohibits conduct but does not state a remedy for those injured by a violation of the statute, a person injured by the violation has a private right of action against the person who violated the statute for his or her damages– if the injured person is in the class of persons intended to be protected by the statute. According to the appeals court, the statute was intended to protect only lenders and lienholders, future lienholders and purchasers, and borrowers who have paid off their mortgages… not county clerks.

    The court noted that the state Attorney General has the right to enforce laws. Kentucky Attorney General Jack Conway sued MERS in January over MERS’s alleged failure to comply with Kentucky’s recording statute. That lawsuit has yet to be decided.

  94. What is with you commie trolls & your obsession with lvent…..? Get over it already…..all of you reek of b.s….you need to worry about your own problems Christine…..It sure sounds like you are who may be in dire need of some estrogen replacement therapy……

  95. For those of you who want to contact the media, here is an exhaustive list of e-mail addresses at the Washington Post, The American Press Institute, the NY times, the different TV media, congress, the foreign press and many, many more. Quite a list.

    http://removingtheshackles.net/so-you-want-to-contact-the-media-and-government/

  96. U.S.A…U.S.A…..U.S.A……!

  97. No one is buying your commie crapola Christine………Marilyn is your commie troll buddy…..get a grip. You are ALL BUSTED….IT IS CALLED AMERICAN EXCEPTIONALISM AT ITS BEST…..U.S.A…U.S.A…U.S.A…..! Boo hoo…..cry me a river you commie troll…..

  98. stastia, on February 20, 2013 at 7:22 pm said: Your comment is awaiting moderation.

    Hello,

    If you are going thru a fraudulent foreclosure with Bank of America aka Countrywide please feel free to email me with the name of the endorser of the Note if this is available , MERS assignment , ame of the bank avp, notarizer and if you a a scanned copy this would be great. I have gone through this myself and must say I have found forgeries for Dominique Johnson which appears to be a forgery of one Stonebridge Investor in St.Louis , Bank of America’s Bank President – Forged letter of one StoneBridge financial advisor, One Bank of America AVP – Wendy Belanger – also Notarizer for foreclosure Mill Attorney – Millsap and Singer – whih appears to be one forged signature once again of a News Paper editor which list the foreclosed properties in stlouis.
    If you should knotice the foreclosure that are making it through the courts are by Realtors. Please take notice of this. These are the obly ones beating the system.
    I will be happy to share these documents with the forged signatures. You will need these for Court.
    I beleive the problem becomes very clear, these said trust were voided without the knowledge of te homeowners and sold into a secondary market without the Note or the Deed, These failed Trust were then sold to Consus Group and then resold with Wellsfargo as the Master Servicers. ReContrust is actually involved as well.
    The Mediation Bill has passed in the City of St.Louis although the Mortgage bankers have placed an injuction against this bill.
    From my understanding the injunction was placed to forfiet the current laws that are currently on the books . This merly means to legalize fraud. Once you agree to mediation your rights are completely removed. StLouis did you sleep on this ? There was no voting involved , they went straight to the nvestors for signatures.
    For how they are foreclosing illegally in Stlouis through Bankrupcy courts here ya go ……….

    ********email: stayinyourhomecitywide@gmail.com

  99. Darn it Garfield, what more do you want? The imbecile is a serial shill and she isn’t on her first website. Kick her out, please!!!

    Marilyn Abdilla, on February 19, 2013 at 11:50 am said:

    Stripes..A/K/A iVent….Yes…we were both on another blog in the past…in all the time I was on it I never had one person ever tell me to shut up, stop the caps, to stop the repeating over and over…you would analyze and judge other comments as if you were the teacher of grade school kids ..I never had any problem…but you did ..alot of times…and you know it…you even got warnings ….it got to the point I felt my time was to valuable to waste so I left the forum…one could see your words were getting stronger with anger…you yourself said you had many appointments with various attorneys in Chicago area..not one would take your case…you made phone calls, ran to court records..it was like panic was setting in….you may not realize it but many saw it…alot of people were on that blog but no one had any problems or arguements but you…did you not see that or did you not care..? Now I see it on this blog…only worse. Not sure if it is a hormone problem or menopause but you need something before you explode…you have the same pattern as before only now when you comment one can see there is a problem…and by the way…DON”T call me a troll ..and for your information no one has sent me to attack you…I am not a tool to be used…I don’t go on blogs to attack..not everyone is like you…get off that high horse you are riding on…I list my name as I have nothing to hide..why don’t you? What are you hiding ? You had no choice in finding a lawyer..all turned you down, maybe it was your attitude that made their decision…now you are left to fight it alone…

  100. Guess what Christine? I hope the Globalist commie control freaks continue to blow themselves and their scam to oblivion. I could give a flying %&$@# about any of these foreign bleepers…

  101. F/U imbecile. Done giving you any attention. Too stupid to waste time on.

  102. For those wanting to learn what is really going on. Whether you listen to it or not, whether you want to learn or not makes absolutely no difference in the big scheme of things: millions worldwide are already acting on it. Do you really think that all those speakers who take action and risk their freedom came out of nowhere and are interested in a puny, spoiled, fearful 4.57% of the world? Nope! They’re not taking action for “victims”. They’re taking action for doers willing to grab the ball and start running with it. Chinese, Russian, Arabs, Africans, Europeans, Australians, Canadians, South Americans.

    Global F.A.C.T. Radio- OPPT with Heather

    http://www.blogtalkradio.com/globalfactradio/2013/02/22/global-fact-radio-the-oppt-with-heather-tucci-jarraf

    Thursday night at 9pm est

    GLOBAL F.A.C.T. RADIO – THE OPPT WITH HEATHER TUCCI-JARRAF

    GLOBAL FACT RADIO
    Thu, February 21, 2013 09:00 pm REMIND+
    Call in to speak with the host (646) 478-5728

    Share On LinkedinLinkedInShare On Emailemail5
    On this show, we are honored to have two guests: Heather Tucci-Jarraf, one of the trustees of The OPPT and Captain Deryl Zeleny of the Canadian Armed forces.

    Heather will discuss all aspects of the OPPT and how it can be used to benefit the people and answer any questions our listeners might have. Captain Deryl will brief us on the assignment he was given by his superiors and how it led him to the OPPT.

    The format of this show will be a round table discussion/interview. Our listeners are welcome and encouraged to join in and ask questions anytime either on the air by calling in to (646) 478-5728 or in the chat room.

  103. I DID MY HOMEWORK CHRISTINE…&….I AM EXCEPTIONAL IN THE RESPECT THAT I SPENT INUMERABLE TIME STUDYING THIS SCAM….& GUESS WHAT…? AS A RESULT OF ME MAKING THE TIME TO EDUCATE MYSELF……I KNOW WHAT THE LAW SAYS RE ALL OF THIS MANUFACTURED COMMIE CRAPOLA AND….. GUESS WHAT THE LAW SAYS?…….THE LAW IS SUPERIOR TO TBTFs RULES FOR RADICAL COMMUNIST CRAP…..WE THE PEOPLE ARE THE ONLY VICTIMS HERE….& I DON’T WATCH TV…..I ANALYZE IT……

  104. For those wanting to learn what is really going on. Whether you listen to it or not, whether you want to learn or not makes absolutely no difference in the big scheme of things: millions worldwide are already acting on it. Do you really think that all those speakers who take action and risk their freedom came out of nowhere and are interested in a puny, spoiled, fearful 4.57% of the world? Nope! They’re not taking action for “victims”. They’re taking action for doers willing to grab the ball and start running with it. Chinese, Russian, Arabs, Africans, Europeans, Australians, Canadians, South Americans.

    Global F.A.C.T. Radio- OPPT with Heather

    http://www.blogtalkradio.com/globalfactradio/2013/02/22/global-fact-radio-the-oppt-with-heather-tucci-jarraf

    Thursday night at 9pm est

    GLOBAL F.A.C.T. RADIO – THE OPPT WITH HEATHER TUCCI-JARRAF

    GLOBAL FACT RADIO
    Thu, February 21, 2013 09:00 pm REMIND+
    Call in to speak with the host (646) 478-5728

    Share On LinkedinLinkedInShare On Emailemail5
    On this show, we are honored to have two guests: Heather Tucci-Jarraf, one of the trustees of The OPPT (The One People’s Public Trust) and Captain Deryl Zeleny of the Canadian Armed forces.

    Heather will discuss all aspects of the OPPT and how it can be used to benefit the people and answer any questions our listeners might have. Captain Deryl will brief us on the assignment he was given by his superiors and how it led him to the OPPT.
    Links: http://www.oppt-in.com and http://www.peoplestrust1776.org

    The format of this show will be a round table discussion/interview. Our listeners are welcome and encouraged to join in and ask questions anytime either on the air by calling in to (646) 478-5728 or in the chat room.

  105. There is no frickin’ victim. Ever. Anywhere. Only bad players too afraid to think straight and too confused to learn the rules. Turn off the TV. Do some research. Learn the rules.

  106. Here they go again….blaming the victims. We don’t elect these crooks. It’s called politics. The IRS are part of TBTF…….the entire TBTF shabang was designed to rob US & control US they all got way too greedy. They want us to believe they own everything & they own US…..That is a BIG LIE BECAUSE WE THE PEOPLE PAY FOR EVERYTHING UPFRONT. …..& YES….THAT IS CALLED AMERICAN EXCEPTIONALISM AND YES, WE THE PEOPLE ARE EXCEPTIONAL……BECAUSE WE PAY FOR EVERYTHING…..WE TRULY ARE WAG TOO TRUSTING & KIND HEARTED BUT THOSE ARE OUR ONLY WEAKNESSESS…..

    WE THE PEOPLE were played for fools by these TBTF crooks. TBTF played their mind control game masterfully. Their fatal flaw was they got way too greedy as empires always do.

    Therefore, upon our discovery of TBTFs heinous crimes against US… It is now time to turn the tables on these crooks and stop cooperating with the TBTF beast and their pal the Red Dragon of socialism/communism/totalitarianism …..and sue these crooks.

  107. The bankers are not the problem. We are. We allowed what they created by our apathy. And we failed to shut them down by closing our accounts

    Congress isn’t the problem: we are. We elected every one of those people who, ever since, have been walking with both hands in our pockets and been rewarded for it by being re-elected over and over ad nauseam. We keep them until they are sol old as to be almost liquid and when they no longer function, we give them retirement benefits not one of us can ever hope for ourselves.

    Government isn’t the problem. We are. We tolerated abuses, incompetence and dishonesty and we kept asking them to do our thinking for us.

    Sherry Jackson, former IRS agent, blew the whistle in 2002 on that atrocity called the IRS. She paid dearly with jail time. She is back. With a vengeance.

    She had been a named plaintiff in the “We the People” (Robert Schulz) lawsuit seeking to enjoin the IRS for violations of the 1st Amendment’s right to petition.

    Jackson was later indicted for and, in October of 2007, was found guilty of four counts of willful failure to file tax returns, and was sentenced to serve four years in federal prison. United States v. Sherry Peel Jackson, No. 1:07-cr-00108-ODE-GGB-1 (N.D. Ga. 2/20/2008), aff’d No. 08-10651 (11th Cir. 9/10/2008). According to the on-line inmate locator of the Federal Bureau of Prisons, she was prisoner #59085-019 and was released on August 8, 2011.

    Shut down the IRS. All other problems will be solved.

  108. @ Russell Grissham

    You must be talking about New century? If so, check the Missal report, Exhibit F of the bankruptcy filing in Delaware.

    The time frame of your loan is very important. My loan was 2007 and I found a copy of my “note” was given to Credit Suisse from a default in a line of credit by New Century. Now, Carrington bought all the servicing from them, all of it, and many of the loans were charged-off and sold at pennies on the dollar, so no loan is worth the full amount and there were 27,000 loans that went unfunded.

    Most likely, the servicer is at play and a debt collector who was ONLY given servicing rights, no assignments. Is there a trust? If they “claim” there was, a SEC check is in order as most of New Century trusts are gone, from the quality of loans they misrepresented as going into pools, but many did not. It matters if it was pooled or sold forward…Given any entity sold the “notes” , not loans multiple times, they only have a copy of your note and that is very important to proper assignments and transfers.

  109. NG said:
    “The Judges ask “where is your evidence” and the answer as set forth in Wigmore and other scholars on evidence is that where the information is exclusively within the care, custody and control of the party against whom the allegation is made, the burden shifts to that party to prove that the allegation is untrue.”
    I appreciate even this much of a clue. I’ve known from some case I lost
    that there’s ‘something’ about evid being in the exclusive custody of one’s opposition that we need to know, but didn’t know what since I lost that case I had. NG says when that’s the case, the onus is on the possessor to disprove the allegations from its adversaries. Sure like to see some case law or rule on this since it seems pretty important.

  110. Dear Neil,
    I would love to have an actual reference to the rule of evidence that you cited from Wigmore on Evidence. Where can I find this specific rule of evidence in the original Wigmore and in cited cases that have successfully argued this?

    It might be very helpful to remind a judge of their law school days and a time when even they believed in the law and the rules!

    Thanks!

  111. There is no such thing as a judicial foreclosures in the U.S…….It is a clever word for robbery….

  112. Eule,

    That’s a very old thing you posted. Since then, we’ve learned quite a bit.

  113. CNBC interviewed the Comptroller of the Currency about Jamie Dimons crimes. When asked if the shareholders should have canned him, he replied….I’m not saying that, Dimon is the Chief Executive Officer of JPM….

    So I take that to mean Dimon is told by the shareholders what to do do….

  114. E. ToLLe,

    I tend to agree with you. Germs attack from the outside in. If your immune system is weak, they will proliferate and overtake you. A good, strong immune system is built from the inside out. The Carnegies, Vanderbuit and JP Morgans of this world knew damn well what they were doing by transplanting people, forcing them to work on Sundays and give up their church or risk losing their job, breaking down families by underpaying workers and forcing all adults into slavery in order to survive, creating daycares and schools to usurp parental guidance and authority and the list goes on.

    Society will be rebuilt from the inside out, one small community at a time, like any strong immune system. Right now, we’ll see purges emanating from groups of like minded people: first, identify and kill the bad germs. Then, strengthen the terrain by preventing them from returning. Ain’t gonna happen because of government. Ain’t gonna happen either by watching TV all day and giving a play-by-play run here like some do. Do you know that entire communities are now using the barter system for all their day-to-day operations? I’ll mow your lawn and you’ll fix my gutters. I’ll babysit your kids and you’ll teach me English. That’s the only way.

    Good thing is… there won’t be room for anonymous A.H. to ruin anything.

  115. @ Christine, that article you posted in the last thread….the one from Detroit where they’ve asked for the FOIA on municipal dealings…..that’s what it’s going to take to shred this thing apart. Showing what Neil writes about above i.e. how there’s nothing but fraud all around these deals in origination, on both the buy and sell side, combined with showing how the municipalities have been screwed in the first place with bad terms and ludicrous products, but also by having the same criminals refinancing these bad deals not just nationwide, but globally, should finally get the masses of their asses. If it doesn’t, then we deserve whatever fate comes our way.

    The one truth that I know cannot be falsified….all Ponzi schemes fail eventually. Unfortunately, this one, when it does, has not only the potential, but an almost 100% guarantee of taking down the entire planet’s financial system, which is what we all know was the outcome that should have happened several years ago, save for that asshat Paulson giving away all our money. Foam the runways? I say grease the entrances to prisons.

    The Detroit FOIA deal is what I’m going to present to my local Occupy movement. These half-assed attempts at getting a bank here or there to modify a single borrower isn’t doing anything towards the big picture, save for laundering a few titles here and there for the criminal banks. This tactic of showing harm to borrower and investor in one fell swoop, IMHO, is the key to taking these rat bastards down.

  116. The naked nominee like MERS for example. They were all naked nominees, for the FEDSTERS including the banks. Their banks were in reality, credit brokers for the big credit brokerage house called THE FEDERAL RESERVE BANK. Our wealth goes in the the FEDSTERD credit warehouse. The FED steals our wealth by pretending to lend US MONEY WHEN IN REALITY, THE STEAL OURS…. and that is why their credit is a work of fraud & fiction.

    Then, the FEDERAL RESERVE BANKSTERS use their magician’s on WALL STREET to overissue investments in things they don’t own to destroy the value of everything we own and pay for upfront at the ORIGINATION….. All payments the FED collects are used to keep their ponzi scheme going and to keep the illusion of a functioning economy alive for those who believe the big lies. All the while they are just continuing to rob our wealth by pocketing the payments and paying nothing back to US.

    The liars say if the fraudclosures all would just go through the economy would improve…..What the TBTF really wants to salvage from the wreckage is a whole new ponzi scheme…..the nation of renters they so desire…..TOTALITARIANISM ….THE TRUTH IS….All of the FEDS DEBT IS UNSUSTAINABLE ….. WE THE PEOPLE WILL BE BANKRUPTED BY IT AS LONG AS WE KEEP PAYING THESE CROOKS OUR MONEY……

    LOAN MODS & REFIS DO NOT RESTORE THE STOLEN VALUE…..TBTF WANT SLAVES TO THEIR QUADRILLION DOLLAR DEBT & NO PROPERTY OWNERSHIP FOR ANYONE…….FRAUDCLOSURE…LOAN MODS….REFIS ALL MAKE YOU A RENTER…..AND MAKE EVERYONE BROKER…..

    TBTF WANTS A LIFETIME REVENUE FLOW FROM NOT JUST THE LAND VIA PROPERTY TAX FRAUD….BUT ALSO THE BUILDINGS……IF THEY CAN’T STEAL EVERY PROPERTY BY FRAUDCLOSURE EXPECT ANOTHER TAX LIKE OBAMACARE IN THE FORM OF A WORLD TAX ON THE BUILDINGS…..THE PEOPLE HAVE TO STOP PAYING THESE GREEDY TBTF DICTATOR INVESTMENT BANK CROOKS WHO DO NOT PAY FOR ANYTHING..AND SUE THESE CROOKS.

  117. Russell,

    Try Mandelman. He has specific links for specific states and he recently (within the last couple of years or so) interviewed a pretty darn good foreclosure defense attorney there who scored a few points. The ling for Hawaii follows.

    http://mandelman.ml-implode.com/2012/06/hawaii-foreclosure-help-from-mandelman-matters-start-here/

  118. Rental-Backed Securites: Wall Street’s Clever Plan for Foreclosed Homes?
    Walls Street still wants it all: your money, your property and… your money. The S.O.Bs won’t let go until they own everything and your soul. Judging by some of the bloggers here, they took possession of a few.

    By John Grgurich

    Posted 1:27PM 02/20/13 |

    It feels like this country went from a housing glut to a housing boom almost overnight. One day, all you’re hearing about is how much extra housing capacity there is, and the next you’re reading headlines about record home starts.

    But before the housing-market resurgence, the other thing you heard about was how no one knew what to do with all that extra housing.

    Well, Wall Street is trying to figure out what to do with it, and their idea doesn’t bode well for either individual neighborhoods or the economy as a whole.

    It’s Deja Vu All Over Again

    Though you’re currently seeing new home developments springing up left and right, the fact is there are still plenty of empty houses out there, especially in certain areas of the country. These are homes people bought during the boom but in short order discovered they couldn’t afford.

    As these homeowners defaulted on their loans, the mortgage-backed securities the loans had been bundled into also began to fail — triggering the financial crisis. But someone owns these foreclosed homes, and they want to do something profitable with them, which has turned out to be renting them.

    Sounds good so far.

    However, now Wall Street is considering packaging up these rental properties into securities that can then be sold off to investors. (Sound familiar?) But apparently, even the ratings agencies are nervous about this untested bit of financial innovation. That’s right: Those same ratings agencies that gave AAA ratings to so many of the mortgage-backed securities that ended up going bust and dropping the U.S. economy off a cliff? Even they don’t feel comfortable with Wall Street’s latest clever idea.

    Your Friendly Neighborhood Renter

    So, Wall Street may be brewing some new macro-level concoction that could come back to bite us all. Again. But what might this idea for rental-backed securities mean on a more micro level?

    Nobody likes empty, foreclosed homes in their neighborhood. In the best-case scenario, a bank or some similar entity is keeping the grass cut, the driveway weeded, and the squatters out.
    In the not-so-best-case scenario, none of the above is happening, plus the windows are broken or boarded up; “entrepreneurs” are stripping the home of interior furnishings, wiring and plumbing; and your kids have decided these ripped-up homes are a great place to play in.

    So are renters worse than the worst-case scenario described above? Hardly. A responsible renter can be as good a neighbor as a home owner. And it’s far from gospel that all home owners are responsible neighbors, diligently keeping up their property, and therefore the neighborhood’s property values. In fact, the right kind of renter could turn out to be a far better neighbor than the homeowners you’re living next to right now.

    The Truly Worst-Case Scenario

    But if the idea of rental-backed securities takes hold with investors, and the Wall Street securitization machine consequently gets humming, the same thing that happened with mortgage-backed securities might happen again: The demand for investments would drive the demand for rental homes, and thereby lower the caliber of the renters.

    Not only would this be bad for neighborhoods, but if enough poorly qualified people are renting properties that have been bundled up into securities, and those people stop paying their rent, the securities could also then fail. This could put the financial industry — along with the rest of us — right back where we were four-and-a-half years ago.

    Before the boom in mortgage-backed securities, no one knew how they would perform on a large scale, nor how they would change the real estate market, and today, no one can be sure how these rental-backed securities will perform on a large scale either. But here’s a hint: If the previously AAA-happy credit agencies are nervous about this new type of investment, maybe the rest of us should be wary as well.

  119. My condominium was judicially foreclosed in Hawaii in 2011. In order to prevent the auction sale I filed a Ch 13 Bankruptcy. The BK was filed over a year ago and because I could not get a confirmed ‘Plan’ the case was dismissed. The lender I originally made the loan with was Home123/New Century. They both filed Ch 11 bankruptcy in 2007.
    The servicer, Carrington Mortgage Services, represented by Wells Fargo Bank N.A. as Trustee is litigating. I have been fighting Pro Se.
    I filed an objection to WFB’s Motion for Relief from Stay for lack of Standing. This was because of the bankruptcy of Home123 and New Century over a year before Carrington made the claim of assignment of the loan. There was a case in Hawaii, the Williams case, ruled on by Judge Seabright, that affirmed that the assignment could not have happened because of their prior Ch 11 filings years earlier.

    Now that my BK has been dismissed WFB is trying to go forward with the auction sale, by way of the court appointed commissioner.

    My question to you is are their any attorneys in Hawaii that I can go to?

    I am retired and without much money and need some help with this.
    Aloha,
    Russell Grisham
    2029 Ala Wai Blvd. PH-1
    Honolulu, Hi 96815
    (808) 256-7004
    russellgrisham@aol.com

  120. You talk about loan that were suppose to be titled, however the Government problem is Ginnie Mae who take possession however not a single title is submitted at a single local land recording office in the country.

    Why? Because the Ginnie Mae did not and could purchase a single home mortgage loan. So you got $1.1 trillion in government insured loans that have not debt attached to them because the endorsed in blank Notes were made void to collecting debt when it got to the hands of the non-lender.

    It does not matter if it was Ginnie Mae or left hand Louie that claim ownership, because neither is authorize to make the home loan. What the investor of the Mortgage Backed Securities did or did not do with the lenders/issuers is a totally separated transaction that has nothing to do with homeowners.

    Some now lender who does not purchase the debt, wants what? Ginnie Mae never extended money to the home owners or the lenders, and they are only a holder of the blank Notes. A blank Note is only a Note if it holds a debt, and if your not listed on the Note as the LENDER and as under UCC 9 Ginnie does not have receipt of purchase and has the burden of proof that they purchase the Notes. Ginnie Mae cannot provide this evidence.

    The Jig is up!

  121. “…When the time comes that the pretender lenders are required to produce cancelled checks and wire transfer receipts and instructions it will be obvious that the paper in the securitization chains is worthless or worse carrying liabilities for fraud and statutory violations. It will be equally obvious that the subservicers, master servicers, trustees of empty pools, and others created an illusion that worked, receiving trillions of dollars in insurance type contracts on transactions that never occurred…”

    Classic Ponzi…but no prosecutions and continued cover-ups because GSE’s and our government are/were directly involved.

  122. Thanks Neil, you’re really getting on top of this, the picture is getting clearer, looks like the best way to present this is one case at a time; since the wall street banks simply won’t allow a dangerous president

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