Courts and LAwyers Getting Sucked into Holder Arguments

The only problem I have with cases that find for either the borrower or the would-be forecloser is that they continue to put too much emphasis on “holder” and too little emphasis on “owner.” The banks continue to use worthless paper assigned in blank.

The paper was worthless because no financial transaction occurred. The paper talks about the transaction and raises certain presumptions. But the presumptions are rebutted when you are able to show or elicit an admission that the story on the note is untrue.

If you look at the UCC you will see that such transfers must be for value. If it were otherwise, then you could hoodwink anyone into signing a note, not give him a loan and go all the way through foreclosure simply because you were the holder. It’s common sense but it is NOT receiving the attention it needs because the Achilles heal in most transactions where an asset pool claims an interest in the note are NOT backed up by a payment of money for the loan.

What the investment bank did was sell mortgage backed bonds issued by the loan pool (trust) but never never used the money to fund the trust. The investment bank funded the loan from a giant slushfund of all money paid by all investors for all mortgage bonds issued by all asset pools. They did that to create the illusion of an ownership or insurable interest which is why the insurance was payable to the investment bank instead of the investors. Same for credit default swaps.

179 Responses

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  3. @JG

    Denying the plaintiff is a RPII and also doesn’t own the claim of damages to be sued upon as an affirmative defense to a complaint holds open the possibility that the defendant can claim the note doesn’t describe real money transactions which makes the lien invalid.

    Ownership is an issue of material fact and plaintiff would have to prove how and when the loan was funded, prove the endorsements are valid representations of money transactions, and prove how it came to possess a VALID bearer instrument by lawful and purposeful transfer.

    We have a new ruling – Lindsey vs Wells Fargo (FL 1st DCA 2013) that finds a mortgage assignment, alone and by itself, cannot be relied upon to show competent evidence a plaintiff is a lawful holder of a note bearing no endorsement. (i.e. The court found the note does not necessarily follow the mortgage assignment) This can be extrapolated to a case where a bearer instrument is before the court because an unidentifiable “in blank”payee is not a person, not a company, and facially doesn’t match the named plaintiff nor plaintiff’s last purported transferor

    A defendant can’t have a contract with an unidentifiable entity. Now, a mortgage assignment can’t be relied upon in isolation to show competent evidence the mortgage assignor was also the last valid transferor of a bearer instrument. Plaintiff would also need to establish, with an evidentiary basis, how and when it came possess rights in a bearer instrument from a valid transferor if it wants to prove standing at the time the lawsuit was filed. In other words, a fabricated mortgage assignment from the last endorser to blank would also need to be supplemented with evidence the plaintiff gave the named mortgage assignor consideration in return for a bearer note transfer before it files. Affidavit of ownership, special endorsement, or cancelled checks would do nicely.

    Because ownership of these bearer notes doesn’t and most likely never existed, this is a nightmare for the plaintiff. What do you think JG?

  4. johngault I wish I had read about this because in that case it would have already been solved. What brought me to this point is as an old soldier, carsales guy, turned bank mortgage loan officer who was black who had to learn how all the pieces in my world of lending worked, because I had no support of other black prime/government bank loan officers, because in America I was it.

    Everyday for like 19 hours a day I would eat and breath this subject until nothing wants to talk to me because it going to lead to what I have discovered today as to my situations. So that why Ginnie Mae, Washington Mutual Bank, Wells Fargo Bank, MERS have been my 7 day a week job. There is no plan B, because I am positive that I and you will win the fight against these folks, because there is no quit.

    Two interactions are embedded in my mind and that is first talking with MERS VP creator Bill Hultman who was lying to me on the phone telling me I did not know what I was talking about and that he was a lawyer, and that was Jul 2010. Later in Oct 2010 I was talking to a VP at Ginnie Mae and she though she was talking to just some stupid customer until her answer cleared the air as to Ginnie Mae position on the Notes, and that moment it all started to all make sense. Not that I knew everything but it lead me to everything and there been blogs where layers has argued about blank Note as defined in UCC 3 & 9.

    I have read court decisions and the most important one was MERS vs Nebraska Dept of Banking & Finance which once you go back and look up Nebraska Statute and it put it all in place the con that being run. I happen to have a chip on my should and have hated the way a former employer in Wells Fargo was steering people, and was black, going through all this personally with all National players while living in Nebraska. Right place at the right time, force to swim or died!

    I don’t have some paper I read, as I say read anything and everything on the subject, and I know I do talk all over the place because the crime is all over the place and is why it so hard to understand if your not personally effected!

  5. charles reed – I would be interested in reading anything you’ve got or can point me to about that gnma deal. Still hoping for a link to that form I can’t get. You must have read it, so….
    Links to other articles, blogs, anything?

  6. E. ToLLe said:

    “It’s happening in Europe…”

    True. For one thing, Europe will no longer allow bankers to be paid on commission. It’s salary and nothing more, like everybody else. Also, there is a cap on what they be paid. Some bankers have yelled, cried, screamed but nothing doing. Those bankers threatened to move to Singapore and Europe said: “Go right ahead and good riddance! But don’t come back here crying when the market collapses there!”

    I love it! And that can only happens with strikes and demonstrations. Don’t know why it’s so difficult to grasp…

  7. Upon discovery of this massive fraud against us, property owners who refuse to cooperate with these crooks are doing the right thing.

  8. Another “new” plaintiff in this fc debacle prompted me to do a google search ….. is Midland Federal a subsidiary of Chase brought me to this link…. Midland-Odessa Division, Western Texas

  9. It is no longer a secret Obama is the President of their own Global Corporate Club, AKA The Knights Templars and all of their masonic legions who disguise themselves as other things such members of the Congress & the Senate appoint their own members in the judiciary and law enforcement. It all stinks and is unconstitutional and illegal. It has nothing to do with the American people or our Constitutional Republic, we were greatly deceived into participating in this Corporate sham of shareholders and investors who are not our Constitutional Government.

    TBTF are simply control freaks who defraud us and rob us and use their own members to control their fraud and control us. That is why, upon discovery of their fraud, by law, you should not participate or comply, conform or cooperate with it or you are a party to it. Demand justice because that is your legal right.

  10. E. Tolle maybe I did misunderstand you, however at this point when the two parties are split in have and the GOP simply think that deadbeats were thrown out their homes and the Dem are thinking that their own family member were also deadbeat and Obama saying they were deadbeats, but we are going to help out the homeowners that were doing the right things. Right things meaning what?

    However who the nut that against all odds is Chris Dorner? I am not at the point that I am willing to act like Greece, when I do see that this blog war is working (slowly), but look at NYT today with the article about 700 military foreclosed while in combat from the 4 big banks.

    The movement is moving our way better this way than some lone wolf wanting to be some cult idol. I will die for what I believe in but not just dying to prove I can die, or but the example of some locked up nut.

    The Whistle-blowing paper trail will help more people be whole again, I realize the system is broken but has always been broken, but we are at a point where many of the crooks can flee with there trillions in ill-gotten wealth to safe havens.

    What exactly are you suggesting we do?

  11. Charles Reed said, “Hey E. Tolle look at that piece on Time to hand the banker asses to them (good piece). Unfortunately during the last four years we had Obama would friend are the Democrat banker of New York who have provided him with his much needed campaign funds.” Charles, how’s that effort been working out? I believe you said you’ve been pushing this Ginnie Mae fraud whistleblower deal for going on two years….at what point do you stop and realize that all this time you’ve been whistling behind enemy lines?

    You’re missing the point that I was trying to make….it’s no longer about the last four years or what Obama has or has not done. The time has come to take matters into our own hands, not in another OWS sleep in the park deal, but one in which TPTB are chased from office in fear for their very safety. Shut down Wall Street and its revolving door for good.

    It’s happening in Europe, as the masses are well aware that they’ve been taken over by technocrats who have not been voted in, but have been placed their by their Goldman Sachs counterparts, with one goal in mind, push austerity in order to extract the resources of all. Privatization aids the elite’s goals in every respect. But you’d never know it by our captured press.

    The longer we look back at the atrocities and whine incessantly about Obama and Boehner, Holder and Curry, and on and on, the longer we ourselves prolong this elite extraction process due to our own incompetence. Trying to reason with the likes of the OCC, the FBI, the DOJ, and the AGs et al has proven what that whole gig is worth, more protections for them, more abuses to us.

    The bureaucracy, now a perfectly formed kleptocracy, should be the ones hoping against hope for a pleasant outcome, that of not losing their freedom, or in the alternative, their heads. At what point does it become crystal clear that it’s us against them and that there are plenty more of us? Dimon’s recent retort to an analyst in the stockholder’s update, where he said flippantly, “That’s why I make more money than you”, should be met with, “And that’s why your freedom is forfeit.”

    It’s time to convert the so-called ruling class to the deprivation class. It’s simple math….flip the fraction on itself….the .01% at the top now become the .01% at the bottom. Let’s see how their lobbying works from an 8’X10’ cell.

    Rev. 2.0

  12. L.L.C.s protect the shareholders and investors from losses. That is why the servicers are fraudclosing and Concealing the true identity of the FED investors and shareholders in the most egregious criminal fraud cases, they are using third party debt collectors to hide and control their fraud. They are also using fictitious trusts to tax evade. Deception is a big part of their cheap thrills as no one is prosecuting these crooks anyway, this is meant to deceive only us. They should all plead insanity and end their charades. The Citizens United ruling by the Supreme Court that Corporations are people, hides and protects the shareholders and investors of this corrupt Corp and needs to be burned at the stake.

  13. Luciferian Illumination: Rending the veil….

  14. This Foreign TBTF Corp has no loyalty to any of the Govts, Corps, politicians, agents or agencies it uses. Even the banks, Wall Street firms and Federal Reserve Bank that it uses to rob the people. They are all just tools for them to destroy us. Corporatism, investment, credit, banks & banking are just of few of it’s many tools that the Knight’s Templar’s use to destroy. All of their evil is spread through masonry ….. it infiltrates everything and disguises itself as many things such as Churches, banks, banking, Wall Street, the politicians and politics. It is the Luciferian agenda. They are the synagogue of Satan, the Bronwens.

  15. Search the Father Malachi Martin videos on you tube. The Change They Are Not Telling You About is a good one.

  16. These commie control freaks want totalitarianism, make no mistake. They will do everything in their power to destroy our free will and force us to accept complete communism. The new $85 billion dollar cuts in the military budget and social safety programs we already paid for are complete fascism. This destruction of America is definitely an inside job.

    The Knights Templar’s planted their evil seed everywhere including in the U.S. Government’s and are disguised and planted in the hierarchy of everything. But most importantly, and even more dangerously, they are planted at every level and it is especially bad at the local, county and State levels. They are in all political parties, corps, govt agencies, universities, public and private schools, the media, law enforcement and the judiciary.

    They are dangerously brainwashed individuals who are complete communists in their ideology and they openly convey this in their words and actions, though it is subtle, it is obvious when you know what to look for. They are control freaks. They are investors and members of this control freak TOO BIG TO FAIL TOTALITARIAN IDEOLOGY. They are hidden but, open dictators who believe it is their way or no way. They do not believe in compromise. They will tell you their social justice “fixes” will bring you justice but they are in reality, just control fraud mechanisms that are meant to weaken you and control you.

    By cooperating with them, they keep you threatened and intimidated by them. They want us to think like them, and cooperate with everything they say and do. They are mind control freaks who want to keep our minds caged. They want us to conform, comply and cooperate with all of their commie fascist control freak tactics or they will label you nuts, a tax evader, a crook, a deadbeat, a druggie, a drunk, all of the things they are. They will tell you that you are wrong, they are not criminals. Then they will take your words and restructure them and explain to you how you are right but, the only way to go after them criminally is by “social or civil rights fixes” for their criminality. They are pathological liars. Don’t believe them.

  17. These commie crooks who hide behind many facades, like Corporate logos, always wanted to bring down the Catholic Church. A KGB admitted they infiltrated the Catholic Church years ago. Look for the videos on you tube. Nothing is as it appears on it’s face.

  18. Obama is President of TBTF Corporate America. He, the politicians and their Criminal friends on Wall Street are out to destroy our Constitutional Republic and could care less if we all die broke and homeless in the streets in the land our fathers conquered, fought and died for. They are all investor control freaks. I am now looking into Bronwen. It’s all connected to the Scottish rite with these traitors. They have no loyalties to the Roman Empire.

  19. Anybody knows a lawyer who gets it Manhattan NY or Staten island ny please email me at

  20. Hey E. Tolle look at that piece on Time to hand the banker asses to them (good piece). Unfortunately during the last four years we had Obama would friend are the Democrat banker of New York who have provided him with his much needed campaign funds.

    Obama has listen to Bernanke & Geithner along with a Justice Dept with Holder and his top investigator Breuer who is as blind as Stevie Wonder, and never saw a banker that he would prosecute.

    Dem will have to have that come to Jesus meeting about exactly what Obama not done and is allowing to be done while people go further into a point of no return into poverty. Yes Obama doing his old campaign deal, but the GOP not going to let him off the hook by voting yes on anything but Gay Rights and Immigration to take them off the table.

    However as far as providing relief economically to Obama’s base, is the part of the war were you cut the supply lines, to kill the body and the head will follow.

  21. You get what I mean! Enough said!

  22. Victims of Rape Heal One Day at a Time! Families of Murdered Family Members Heal One Day at a Time! But they Do Not Give Up! They Fight Back! They Nail and They Jail One Criminal at a Time! God Never Life Would Be Perfect! And I Thank God Everyday as a Women that I Live on U.S. soil with my Freedoms.

  23. Change happens one Community at a Time! One Church at a Time! One Court at a Time! One Family at a Time! One Child at a Time!

  24. Max Igan is an Autralian guy. Nothing to do with BK. And, just to clarify, I don’t particularly target the US but humanity as a whole. Humanity is not civilized. Period. Suffice to look at how countries were made: war, pillaging, rape, etc. It just happens that i live here and that’s what I see day in, day out but I would see the same thing probably anywhere.

    That paradigm is disappearing. Ain’t gonna happen in court. Or in church.

  25. Upon discovery of the fact that there is no code of honor with this TBTF GOVT CORP…..and they in fact, dishonored US exponentially, without our knowledge or consent, THEY NOW OWE EVERYONE OF US CLEAR TITLE & MONETARY RESTITUTION.

  26. Max is a BK Lawyer. I do not have any debt. I am the ole fashion pay as ya go kinda ole lady! My religion is … You pay what is owed, and you do not pay what is not owed. Simple! “Sticks My Tounge Out At You”!

  27. LOL! Talk about Fear of Change or Lack of It! Maybe Lack of Acceptance of Ones Own Responsibility! I thinks someone Fears the Lack of Change or the Fear of Facing Her Own Responsibilities!

  28. Civilized is what Max Igan talks about.

    And by the way, he also talks about how much religion is preventing it. Actually, he describes the moron to a Tee. Very funny.

  29. “But we have evolved and live in more civilized communities now.”

    Civilized, huh? Civilized is where banks don’t target children, the disabled and the elderly to “save the economy”. Civilized is where people don’t feel the need to arm themselves to the teeth with guns out of fear of their own government.

    There we go again. Fear. Recurring theme. Civilized is where people do what they need to do not out of fear but out of conviction that it is the right thing to do and it will benefit the “community”. This country hasn’t been civilized since… well, since the first Europeans set foot in it and decided to decimate the natives and steal their land. Polished? Yeah, to some extent. With a coat of veneer (money makes it possible)? Yeah. Civilized? What a joke! Royalty in France was considered “civilized”. Cost them their heads. The Romanoffs were “civilized”. Cost them their heads too. Civilized is in the eyes of the beholder. There can be no civilization based on fear. It’s a logical impossibility. Pure and simple.


  31. Christine, You and I know back in the day … folks like the politicion/banksters would be considered bank robbers and they would be Lynched! Trust Me! I had many a day I Wish I could round them up and do just that! But we have evolved and live in more civilized communities now.

  32. A patronizing tone doesn’t change the reality… I’m not making it up. it is happening. People here are waiting for… The Calling!

    As i said, I’m done.

  33. So… currently, we’ve got riots in Bangladesh, Switzerland, Guinea, Togo, the Muslim world both in the Middle-East and in Europe, Russia, China (not very public… censorship is a reality there) and probably elsewhere. Won’t hear about it here. Got to keep people believing that everything is just faaaane and dandy here.

  34. Sweetie, I been on the frontline since before 2007. I just prefer to do it in a peaceful and legal manner.

  35. “He put his foot down and stood up for his community as we all will when we are called upon!” You’ve been called upon since 2007. Like everybody else. What kind of calling-upon are you waiting for?

  36. Of all the countries to blow up, Switzerland would have been the least likely. That was last night (and we won’t read about it… we can trust our media for it!) It will happen. Here too.

  37. Talk about Fear of the unknown. What I do have is community, something you will never have. I am well aware of my part in my community. Sheriff Dan says we get to keep our Guns. The criminals are the problem .. not the guns. He put his foot down and stood up for his community as we all will when we are called upon!

  38. Unreal, these TBTF Corporate crooks are continuing to weaken us financially and militarily right in front of our faces. The Foreign Corp, our enemy is on U.S. soil and these traitors are cutting $85 billion in military defense spending and social safety net programs. Of course, important things like National Security, and programs we already paid for. Damned TBTF Corporate traitors won’t quit, until we are all broke, homeless and defenseless.

  39. “…does not mean I am willing to make the ultimate sacrifice [if not you, then who?], nor would I ask someone to do something I would not do or have not done myself [my point exactly].. I like my Butt the way it is. I have faith our community [you are the community. Ever thought about that?] will work that out for ourselves. [Just for the hell of it, imagine what the community will be like when everything implodes. Do you really believe that the “community” will do anything for you?]

    I’m done. It’s hopeless.

  40. Now..If you want to roast some corrupt politicions and bankster butts … I have the pit all fired up.

  41. I am very much aware how bonds are created. I am also aware of the securities. I read what you post, some I agree with and some of them I do not. Just because I agree with something does not mean I am willing to make the ultimate sacrifice, nor would I ask someone to do something I would not do or have not done myself.. I like my Butt the way it is. I have faith our community will work that out for ourselves.

  42. “…he has been in the state pen for 3yrs now while his son lives in his home. Is it really worth it?…”

    Depends if you think only about yourself or if the future of the world matters to you. Again, if fear of jail is what stops people in this country, revolutions will take place elsewhere, where people have courage.

  43. “…the sheriff, the courts, the fire protection district, the schools, the libraries and the parks etc… And lets not forget our County Recorders Office….. The Law of the Land!…”

    It is gone. It doesn’t exist. It is a chimera. Everything has been sold out as securities, one way or the other. Everything has been turned into corporations. Check the SEC site and key in any government, state, public agency and what not. Gone. Sold, finished. Apparently, you don’t read what i post anymore than the rest. Tell you what: hold on to your dream. Reality is going to hit everyone really, really hard when it sets in!

  44. Fear? ROFLMAO! I have something you dont have and you never will.

  45. Hey Christine, my daughters neighbor felt the same way about the IRS as you and he has been in the state pen for 3yrs now while his son lives in his home. Is it really worth it? I am NO fan of the IRS.. but I am No Fool either!

  46. Beautiful!

    The stench of fear disguised as righteousness. Exactly what is killing this country and why it is, de facto, done and over with as the world’s greatest economic power. The brainwashing was done well. We have to hand it out to whoever is at the root of it.

  47. You can not understand me because you have never walked in my shoes.

  48. We have all seen what not paying the IRS gets them. A butt buddy! No Thank You! I also prefer the protections of the sheriff, the courts, the fire protection district, the schools, the libraries and the parks etc… And lets not forget our County Recorders Office….. The Law of the Land! I will keep my goverment Thank You so very much! However … I am all for kicking corrupt politican bankster butt kissers, butts!

  49. Guest,

    Please don’t take this out of context or as a personal attack but… I don’t understand the great majority of your posts. Maybe it’s me…

  50. E. ToLLe,

    Screaming about it makes very little sense if people keep sending their money to the IRS. You want the banks to implode? Stop giving government/Federal reserve the ability to rescue them. Starve government and use your money on yourself!!!

    Anything you don’t feed will die. It is an absolute law. It doesn’t change in any circumstance or for anything. It always works. Stop feeding the beast while whining “Help! Help! It is still alive, it is getting stronger and eating us all!”

  51. I found due process the first time around in court when there was no default. I found Justice the second time around outside of court when there was no default and I get to kick bankster butt at the same time!

  52. Has anyone here been in the position where they want nothing more than to make sure their mortgage was current? Has anyone here tried this? On your own? I do not recomend it without an attorney.

  53. Its not over til the Teacher is finished Singing. *giggles*

  54. without representation …. (not with our)

  55. I bet if Sheriff Dan had not got himself elected sheriff and was still practicing Real Estate Law AND had we closed with him ..None of this would have happened to us! My Mistake! And our attorney since 06 got herself a position at the federal prosecuters office last year. Dag gone if the arrogent SOBs jump to the assumtion we were with our representation … Their Mistake!

  56. We gave the kids a downpayment for their homes for a Wedding Gift. Having a Small Wedding was the trade off for the downpayment on a Home. Yeah … we kinda had our cash tied up when we bought this home. Had we known it was going to be such a headache we would have transferred the monies a long long time ago! I have No use for Greedy Buttwipes!!

  57. Dont forget Christine … My daughter is an REO buyer of a fraudclosure. We had to learn to play from both sides of the field where there was a different sef of rules depending on what end of the field you were playing from. Add the fact your an invester, pensioner and a taxpayor its enough to make a person physically sick!!

  58. If the plaintiff was not the proper party to place a credit bid … the sale can be over turned.

  59. If the Plaintiff did not have standing to invoke Jurisdiction of the Court at the time the Plaintiff filed the complaint, the lower courts ruling can be overturned.

  60. Scathing article at Truth on the multi billion dollar subsidy to the Bastards of Greed, a.k.a. the owners of America Inc. Make sure and check out the comments that follow….it appears that I’m not alone in my belief that IT’S TIME TO TAKE UP OUR MUSKETS AND PITCHFORKS.

    Time To Hand the Banker’s Asses To Them

    Lords of Disorder: Billions for Wall Street, Sacrifice for Everyone Else

    The President’s “sequester” offer slashes non-defense spending by $830 billion over the next ten years. That happens to be the precise amount we’re implicitly giving Wall Street’s biggest banks over the same time period.

    We’re collecting nothing from the big banks in return for our generosity. Instead we’re demanding sacrifice from the elderly, the disabled, the poor, the young, the middle class – pretty much everybody, in fact, who isn’t “too big to fail.”

    That’s injustice on a medieval scale, served up with a medieval caste-privilege flavor. The only difference is that nowadays injustices are presented with spreadsheets and PowerPoints, rather than with scrolls and trumpets and kingly proclamations.

    And remember: The White House represents the liberal side of these negotiations.

    The Grandees

    The $83 billion ‘subsidy’ for America’s ten biggest banks first appeared in an editorial from Bloomberg News – which, as the creation of New York’s billionaire mayor Michael Bloomberg, is hardly a lefty outfit. That editorial drew upon sound economic analyses to estimate the value of the US government’s implicit promise to bail these banks out.

    Then it showed that, without that advantage, these banks would not be making a profit at all.

    That means that all of those banks’ CEOs, men (they’re all men) who preen and strut before the cameras and lecture Washington on its profligacy, would not only have lost their jobs and fortunes in 2008 because of their incompetence – they would probably lose their jobs again today.

    Tell that to Jamie Dimon of JPMorgan Chase, or Lloyd Blankfein of Goldman Sachs, both of whom have told us it’s imperative that we cut social programs for the elderly and disabled to “save our economy.” The elderly and disabled have paid for those programs – just as they paid to rescue Jamie Dimon and Lloyd Blankfein, and just as they implicitly continue to pay for that rescue today.

  61. UKG,

    To go back to Schwartzwald, I am posting their first appeals ruling dated June 2011. Compare it with the second one of 12/31/12. I think it is enlightening! Two different judges, same court of appeals, same house, same story, pretty much same arguments.

    That is why I keep harping that, unless you’re in court, you are not fighting. The battle is in the trenches. As long as people haven’t exhausted every single possiblity of appeal, there’s always hope.

  62. ….The sponser bank only maintained 20% stock/intrest in the Note … Think About It! 80/20

  63. Never Again! MERS must Go! TBTF must Go!

  64. Rob the invester/funders, rob the homeowner, rob the ins companies, rob the homeowners again and lastly rob the taxpayers and get a free house.

  65. […] Filed under: foreclosure Livinglies’s Weblog […]

  66. They have never filed an FHA ins claim to date, but they(whomever) thru corelodgic continues to pay the premiums. I giggle knowing they pay the premiums like they think they are going to collect from the FHA policy to! hahaha! No Way Hozay! Buttwipes!!!

  67. Charles… I Love It when the Attorney asks BOAna what makes them think their client qualifies for a FHA loan mod? tickles…. Lucky for us our re-enstatement with CW and BAC covered the FHA portion of the insurance. tickles …. I was a thinkin like Neil…. sumbuddy owes hubby a refund. Yep! Yep! (ps… our loan was never registerd with Ginnie Mae, only the FHA ins policy)

  68. john this is why Ginnie Mae is the easy way to show the fraud that has taken place. From the first Mortgage Backed Securities sold in 1970, the lenders first had to have a already funded with their money loan to place into the pools and once the loan is underwritten and give a certification it is accepted for the pool, as the Notes are signed endorsed in blank and relinquish to Ginnie Mae who is only the “insurer” of the MBS.

    Next the pool/MBS is sold to the “investor”/Federal Reserve Bank or others, the who receives payment from the lender who is now the “issuer”, from the pass through payment action as no party actually receive these payment directly because they are not lender. Even as the servicer act as a receiver of payment for the homeowners for the pass-through payment, they act for Ginnie Mae who is now physical possession of the blank Notes, but are not the “holder in due course” because Ginnie Mae does not purchase the loan debt.

    Understand that either the FHA & VA are only programs and not lenders and in both cases the loans don’t belong to the agencies they only provide insurance to the back end of the debt like PMI, as FHA MIP (Mortgage Insurance Premium) & VA Guaranty Fund. The insurances pays up to that back end 20% lost a lender might incur in the event of foreclosure. This is why when there is a foreclosure sale the FHA & VA have already agree to an amount to purchase the loans at the foreclosure sale from the alleged lender/holder in due course.

    Ginnie Mae and the SEC have been informed of this as I have blown the whistle over a 1 1/2yrs ago. The FHA & VA are being tricked into purchasing these loan at a foreclosure sale from the alleged lender, but if they already owned the debt they would not be purchasing the properties from Wells Fargo, BOA or any of the other mortgage banks.

    Ginnie Mae even tries to hide the fact of a lack of title, by notifying the lender though GinnieNET in a batch message to have the lenders/issuers input information into the MERS system Option 1 Transfer Beneficial Rights which is to transfer the title in MERS but not at the local land recording office. The reason it not transfer at the local land recording office is because Ginnie Mae does not and cannot purchase the debt at all.

    Now you cannot be give the Note at a zero figure and call a the loan do for a sum. The Note is an exact dollar figure that is to be paid back and when the Note which is only a Note because there is an exact figure owed in terms of dollars, which in the case of Ginnie Mae not purchasing the debt, the Note which is now not any longer this Note because it does not contain a debt.

    Also look at it like this that when a loan’s payment go through a pass-through system the homeowners payment does not pay down the principal & interest of there loan as the payment is used to pay the “investor” who purchase the MBS and advanced the lender/issuer funds in the post close of the home mortgage loan. There is nothing in the Note about a post agreement, which a non-lender (Ginnie Mae) who cannot fulfill the terms of the loans, but without any financial interest is owner of the debt?

    Ginnie Mae is caught in their own web and this is the $70 billion in FHA loan losses and this is the 800,000 loan that were not modified in 2009-2010 that should have been that the OCC and Federal Reserve Bank announced in Sep 2012. This is why the Independent Foreclosure Review Board was suddenly stopped, just as my first whistle-blower claim was lost. The should have been dealt with when the Jan 2012 Robo signing was reached, but when you lose the the reporting form conveniently and stop a process saying 3 months later that there was not must harm done but about 20% of the HAMP portfolio should have been modified or actually fraudulently taken when ownership was not in the hand of any party but the homeowners!

  69. You must first stand … before you can fly. Is your pretender standing? If not …. its BS does not Fly! Just sayin….God Bless America!

  70. The zombies are an illusion …. an illusion that has been put to rest. The trick is finding out where they were buried in the consent orders.

  71. Oh wait …. that was BAC that fabricated the second default to cover up CWs fraud. But wait … thats fraud to! And you all woder why BOAna has no teeth. *grins*

  72. CW did not tell the insurers that the loan was re-enstated so they could keep the proceeds from the ins swaps and keep up their ponzi scheme, after all they had til the sol expired on the unreleased lp to fabricate another default. Right?

  73. If you re-enstate, they have to pay back the swaps/ ins proceeds. They are also liable to the borrower for damages to title, credit, deflamation etc…

  74. This bankster debt is not a security or mortgage backed. The small print at the bottom of the instruments reads these are uniform fannie/freddie security instruments. THAT MEANS, THEY ALREADY GOT PAID…. What they did not tell you was, that status is subject to change upon conversion, and that conversion occurred before you autographed anything and they destroyed those instruments and that contract before you were fraudulently induced to autograph you were defrauded, robbed and swindled out of your autograph under false pretenses. False reps & warranties were presented at the onset is, fraud in the factum.

    Now the pretender lender plaintiff tells me, this is a negotiable instrument…..So, the question I have for him is how did that Conversion to a negotiable instrument from a PAID security instrument occur. …? Because if it started out as a security instrument ….which the note clearly states, that means THEY ALREADY GOT PAID…. SECURED MEANS THEY ALREADY GOT PAID….NO LEGAL ASSIGNMENTS MEANS THEY NEVER PAID OUR MONEY BACK BUT FRAUDULENTLY CONVERTED THEIR SECURITIES FRAUD INTO SECURITIES FRAUDS AND MADE GAZILLIONS AND POCKETED ALL PAYMENTS AND THEN RE-CONVERTED SECURITIES FRAUDS INTO NEGOTIABLE INSTRUMENTS AND, THEY WANT TO GET RE-PAID…THAT IS CRIMINAL.

  75. “making the full and timely payment of all
    amounts due to the investors. The issuer is responsible for
    using its own resources to cover shortfalls in amounts due to
    investors that result from mortgage delinquencies or
    Even if gnma ultimately reimburses the investors, the investors
    are being ordered to be made and kept whole by gnma (well, that’s the deal), both before and after the foreclosure sale. Regardless of who is paying, the investors are getting paid, whether it’s by the borrower or the man in the moon. If the investors own the notes, the notes are never in default. WTH? But if the banksters own them and the investors only have security interests, what kind of racket is this? The indentured party’s obligation is what is “mortgage backed”? I sure hope they get the excedrin back out pretty soon. Wonder what that’s about, but I ain’t lookin’, that’s for sure.


    6-2 Program Procedures. The parties involved in the MBS program
    are Ginnie Mae, the securities issuer, the securities dealer,
    the investor, a custodian of mortgage documents, a mortgage
    servicer (often the issuer) and perhaps a transfer agent.
    Once approved by Ginnie Mae, the issuer of the mortgage-backed
    securities is responsible for acquiring eligible mortgages,
    creating a pool of mortgages to be held by a custodian,
    issuing the securities backed by a pool of mortgages,
    arranging for the marketing of the securities, servicing the
    mortgages in the pool, administering the securities
    outstanding and (jg: what’s this:)

    making the full and timely payment of all
    amounts due to the investors. The issuer is responsible for
    using its own resources to cover shortfalls in amounts due to
    investors that result from mortgage delinquencies or

    Well, color me confused. Let’s see. 1) GNMA either guarantees the loans(VA) or insures them (FHA). 2) It’s the Lender who is either guaranteed or insured. If gnma guarantees and insures loans, why is someone else, someone allegedly not the lender if the trusts own the loans and who is also not gnma, supposed to make payments to the investors. Now, I know that with fnma, the servicer has to advance fnma’s guarantee payments and then turn in an invoice to fnma to be reimbursed. Aye yi yi. Have we been looking for love in all the wrong places? Judges don’t know any of this jazz, and they’re not going to until we put it in their faces. I don’t know about anyone else, but I’ve had just about all the research and education I can stand, and this looks like something which shouldn’t be left out. Good lord – we need about 20 rocket scientists each with 10 assistants to actually get thru all this stuff. What a travesty, what a joke, what a load. Looks like the alternative is roll over and take it. We might be able to cut to the chase if we can get (just) certain docs and info. I still couldn’t get that form to open. Charles, can you post (scribd?) and link or at least link? thanks

  77. johngault go to Ginnie Mae web site and you can view the HUD11711A form.

  78. Progressive taxation, NEW social safety nets like OBAMACARE, debauching the currency, or any re-socialism of insolvent debt is DECEPTION…..when they are being fraudulently induced as a fix for massive criminal fraud by the TBTF Govt Corp. These are all criminal frauds, felonies as well as treason.

  79. They have no collection rights…..they have no claim ….they cannot prove harm that is concrete or particularized because they received $60.4 trillion in illegal U.S. TAXPAYER BAILOUTS TO DATE……AND THEY DIDN’T PAY FOR ANYTHING. INVESTMENT IS NOT OWNERSHIP WITH NO LEGAL ASSIGNMENTS.

  80. ……and the case was dismissed with prejudice and no leave to amend.

  81. Like the McClean -v- J.P. MORGAN CHASE ruling in favor of the Defendant that said the Plaintiff must prove Standing at the onset.

  82. Wis Stat 427.104 (2) (Debt Collections) A circuit court is competent to hear state consumer act claims based upon a creditor’s violation of federal bankruptcy debt collection prohibitions. Gonzalez v.AM Community Credit Union.

  83. State court rulings are applicable in any state if they set a case precedent.

  84. yes you did, Christine. My mistake. You’re pretty good with that stuff. I should have known.

  85. The courts have the power to invoke their civil criminal subject matter jurisdiction in these fraudclosures.

  86. They are in fact, Re-Converting the fraudulent securities into more fraudulent securities by Deception, Concealment, Racketeering, Counterfeiting and Forgery, Mail Fraud, Wire Fraud and Securities Fraud……Fraud in the Factum……There are all 7 elements to bring Federal RICO charges in these fraudclosures…..I don’t have my notes handy but I think Securities Fraud would be a cause of action. There must be 5 elements to bring a Civil Rico lawsuit. The Civil Courts have the power to invoke their Criminal Subject Matter Jurisdiction in these fraudclosure actions.

  87. …collection rights to debt previously put into false default by the GSE’s…so it’s unsecured.

  88. Where is the law regarding Re-Conversion of insolvent debt…? There isn’t one because Re-Conversion is in fact Concealment of massive Securities Fraud….it is the PREDICATE ACT OF RACKETEERING AND IS PROSECUTABLE UNDER RICO 18 U.S.C….

  89. @Patrick

    Nobody “owns the note” because it’s not a real note. It’s collection rights—not a funded note…that’s why they have to make up all the BS paperwork after the fact.

  90. Article 3-205 Special indorsement; indorsement in blank; anomalous indorsement, (c.) The holder may convert a blank indorsement that consists only of a signature into a special indorsement by writing, above the signature of the indorser, words identifying the person to whom the instrument is payable.

  91. The question everyone should be asking is why would anyone want to purchase soured debt….? Re-Conversion…..the end game of the Corporatist’s evil plan……RE-SOCIALISM is a method of control….RE-SOCIALISM of insolvent debt is TOTALITARIANISM …..FRAUDULENTLY INDUCED SLAVERY BY THE CORPORATISTS.

    They are RE-PURCHASING their own criminal fraud and RE-CONVERTING our buildings into a nation of renters. They already did that with the land, it is called PROPERTY TAX…..We purchase the land and rent it forever through PROPERTY TAX….now the Corporatists at the top of the pyramid scheme want to fraudulently induce a WORLD TAX or some similar tax, under the guise of this fraud is too big….and TAXATION ….FRAUDULENTLY INDUCED SLAVERY OF OUR BUILDINGS, THAT WE ALREADY PAID FOR AND THEY DESTROYED THE VALUE OF, WILL BE THEIR “SOCIAL JUSTICE” FIX FOR A QUADRILLION DOLLARS IN SECURITIES FRAUD COMMITTED IN OUR NAMES WITH OUR UNAUTHORIZED SIGNATURES.

    The only proper correction is to reject their totalitarian fixes for our robbery & their criminal fraud and demand clear title and monetary restitution from these TBTF thieves who have stolen $60.4 trillion dollars of our wealth since 2008. Stop cooperating with these repugnant thieves.

  92. Oops… and I meant “about 14 foreclosures have been reversed…”

  93. Oops! … front line…

  94. UKG,

    That case has been on the from line since 10/31/12 and has been used in every appeal in Ohio since. So far, about foreclosures have been reversed on appeal and remanded to a lower court “for further proceedings”. I may even have posted every one of those cases. The problem is that it is strictly a state court ruling. Very little traction elsewhere…

  95. ukg, if you could take another shot at describing what you’re looking for, I’ll see if I can remember (if i saw it) about rj.

  96. They are repurchasing soured debt and that is criminal. They are insolvent on their balance sheets. Follow the investments, it always leads to the same Corportatists.

    To say it is just Obama or just Congress and the Senate & the House completely misses the mark. These Corporatists are in both parties, Obama is the President of the TOO BIG TO FAIL GOVERNMENT CORP OF AMERICA……NOT THE CONSTITUTIONAL REPUBLIC, THE U.S.A…as well as the judiciary and the attorney’s as well as law enforcement. You can’t be employed by them or an investor in this Foreign Multinational Corp and be unbiased and loyal to our Constitutional Republic and your fellow man who are not invested in this or working for them.. This Foreign Govt Corp…TBTF are not our Government’s …….they are disguised as the U.S. CITIZENRY.. they are absolutely not. They are all FOREIGN IMPOSTERS….ILLEGAL ALIENS TO OUR CONSTITUTIONAL REPUBLIC….

  97. charles – not sure I got what all you meant to say.
    But that form you ref’d looks interesting. I can’t get it to open anywhere, but here’s a clue:

    “Form Description:
    The purpose of this collection is to provide for releases of security interests in the pooled mortgages by prior secured institutions.”

    I’m really anxious to see this form and to know who fills it out, signs it, and releases security interests. Sure like to see that form. Where the heck is Nancy Drew when you need her? Anyone got it?

  98. that’s right. we’ve seen it many times. Trailing assignments of mortgage, some not seen until the verification of sale hearing if nobody contests. They can’t substitute the real party in interest in a foreclosure.

    And somebody remind me where I read “no res judicata on a foreclosure judgment withdrawn, whether for settlement or otherwise…..” or something like that. Glazer? where?

    somebody said something about not fighting….

    Writing my appeal as we speak…….

  99. The site is obviously no longer a moneymaker. Not since they put the Kabosh on “loan audits”. Somebody push Neil out of the chair. He’s asleep.Otherwise we’d be talking about….
    SLIP OPINION, NO. 2012-OHIO-5017
    Foreclosure-Jurisdictional aspects of standing-Civ.R. 17(a)-Jurisdiction Determined as of time of filing suit. Decided
    Federal Home Loan vs. Schwartzwald:

    “@41 It is fundamental that a party commencing litigation must have standing to sue in order to present a justiciable controversy snf invoke the jurisdiction of the (common pleas) court.Civ.R. 17(A) does not change this principle, and a lack of standing at the outset of litigation cannot be cured by receipt of an assignment of the claim or by substitution of the real party in interest.”

  100. Patrick – you said all that very well. thanks. I have often wondered why, when rule 17 provides that an action must be prosecuted by the rpii, banksters always remove to fed juris where 17 is alive and kicking.
    The rpii, as you said well, is the party who has sustained the injury traceable to the def’s conduct and will be redressed by a favorable ruling. It’s not the guy in poss of a bearer note, not if he has suffered no injury. Injury is the true threshold for jurisidction. Right to enforce by way of the UCC, even if it said what banksters generally errantly claim, is not the bar in a federal court: injury is. Plus poss of a bearer note is not independently grounds for an assgt of its collateral instrument, even if the bearer may enforce an unsecured note, which he can’t in a court for lack of injury.

  101. What the hierarchy of the Catholic Church is promoting right now, one world Religion and one world Government is the face of totalitarianism … evil, that wears many faces.

  102. This is why the Ginnie Mae Mortgage Backed Securities (MBS) is so key to uncovering this mess, as it is fact the the Notes must be in endorsed in blank, because it is a known fact that Ginnie Mae cannot buy or sell them. Even great evidence in Washington Mutual Bank which further give a look into the fraud, and proof why nobody owns the Notes.

    Ginnie Mae also has the lenders/issuers sign HUD11711A form that conveys any and all financial interest in the loans in the event of financially trouble. Now the fact that the relinquishing of the blank Note does give ownership of the Note, transfer of the debt can only be done by purchase of the debt.

    The argument before have been with only half knowledge of the working of the Ginnie Mae pooling possession and lack of understanding that Ginnie Mae is not a leader and cannot purchase a home mortgage loan. What not being understood is that those who possess the Note must be able to perform the duty as a leader in order to have a valid contract.

    That one loses a Note that was blank does not stop them from having the burden of proof as to how they because owner of the debt, ie cancel checks or wire transfer of funds. Noting that is lost is not truly lost as to the transaction. Ginnie Mae regulated position is their downfall because they are what they are and that is a non-leader and are not authorized to lend or regulated as a lender.

    Washington Mutual Bank (WaMu) was seized on Sep 25, 2008 at a time it had as many as 1.3 million government insured loans in Ginnie Mae pools that Wells Fargo was acting as the servicers too. However Wells Fargo I say could not be the servicer to these loan because Ginnie Mae was in possession of the blank Notes and as a non-lender could not collect payment nor could it have a surrogate do so for it.

    So WaMu is a “failed bank” and cannot do banking business, then MERS who is not a mortgage bank and does not have a financial interest in the bank can act for no party. Ginnie Mae is not a member of MERS as a bank, so they are exposed in this crime of acting like one when it has the lenders perform this fake Transfer Beneficial Rights which does not happen in local county land recording offices.

    There is NO owner because there is no entity that purchase the Notes the lender has freely relinquish, as there was no debt the lender owed, so if they chose to freely give away something that is their right to do so, but it does not give the recipient the right to claim ownership of the debt and call it due! Game over!

  103. For the latest on the Corporate Control freak scandal……

  104. What I meant by there is more to life than what we see is, there is a spiritual world. I know the religious haters will bring up the scandals within the church as what we don’t see. That evil was never hidden from anyone. Evil comes in many forms and wears many clever disguises. That is how evil works, it counterfeits good. Evil is always deceptive. Evil is everywhere and always hides behind something good.

  105. IMHO…..Religion is not the problem, it is the people running it and who are running everything else. I am grateful for my Catholic upbringing. It taught me there is more to life than what we see and there is real evil in the world and we should reject it, and all of it’s evil works. I stand behind the Catholic church, just not those who have infiltrated it, hijacked it, and are running it.

  106. I am not a new blogger here. If you go back to 2008-2010, I was there intermittently asking questions I never got any answer for. I have been waiting all along to see if people using his theories were winning. Maybe they are but they don’t write about it.

    What I have seen is very few people with the courage to fight. Many talkers. Few true actors. And anyone who dares shining a different light on the problem being ridiculed, berated or insulted. For once and because I believe we are at a major crossroad and I definitely see the evidence a few of the bloggers have been pointing to, I simply decided to say something today. And I will add to what I previously wrote: another evidence that economic crises have been deliberately caused to destabilize the masses and it almost worked according to plans is the resurgence of the fanatic religious jargon, as if people were so scared that they will use every irrational belief to appease themselves.

    That is their right. If it works for them, great. Reading their posts simply confirmed to me what I’ve known all along: religion doesn’t work. It makes people intolerant, mean and plain stupid. The more jargon they use, the less they actually think. Those are the people who will suffer the most when everything is turned upside down.

  107. On June 5, 1933, Congress passed House Joint Resolution (HJR 192). HJR 192 was passed to suspend the gold standard and abrogate the gold clause in the national constitution. Since then no one in America has been able to lawfully pay a debt. This resolution declared:

    “To assure uniform value to the coins and currencies of the Unites States,

    Whereas the holding of or dealing in gold affect public interest, and are therefore subject to proper regulation and restriction; and

    Whereas the existing emergency has disclosed that provisions of obligations which purport to give the obligee a right to require payment in gold or a particular kind of coin or currency of the United States, or in an amount in money of the United States measured thereby, obstruct the power of the Congress to regulate the value of the money of the United States, and are inconsistent with the declared policy of the Congress to maintain at all times the equal power of every dollar, coined or issued by the United States, in the markets and in the payment of debts,
    Now, therefore, be it Resolved by the Senate and House of t Representative of the United States of America in Congress assembled, that

    (a) every provision contained in or made with respect to any obligation which purports to give the obligee a right to require payments in gold or a particular kind of coin or currency, or in an amount in money of the United States measured thereby, is declared to be against public policy; and no such provision shall be contained in or made with respect to any obligation hereafter incurred. Every obligation, heretofore or hereafter incurred, whether or not any such provision is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any coin or currency which at time of payment is legal tender for public and private debts. Any such provision contained in any law authorizing obligations to be issued by or under authority of the United States, is herby repealed, but the repeal of any such provision shall not invalidate any other provision or authority contained in such law.

    (b) As used in this resolution, the term ‘obligation’ means any obligation (including every obligation of and to the United States, excepting currency) payable in money of the United States; and the term ‘coin or currency’ means coin or currency of the United States, including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations.
    Sec. 2 The last sentence of paragraph (1) of subsection (b) of section 43 of the Act entitled ‘An Act to relieve the existing national economic emergency by increasing agricultural purchasing power, to raise revenue for extraordinary expenses incurred by reason of such emergency, to provide emergency relief with respect to agricultural indebtedness, to provide for the orderly liquidation of joint-stock land banks, and of other purposes;, approved May 12, 1933, is amended to read as follows:

    “All coins and currencies of the United Stated (including Federal Reserve notes and circulating notes of the Federal Reserve banks and national banking associations) heretofore or hereafter coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues, except that gold coins, when below the standard weight and limit of tolerance provided by law for the single piece, shall be legal tender only at valuation in proportion to their actual weight.’

    Approved, June 5, 1933, 4:40 p.m. 31 U.S.C.A. 462, 463

    House Joint Resolution 192, 73d Congress, Sess. I, Ch. 48, June 5, 1933 (Public Law No. 10 )

    Note: “payment of debt” is now against Congressional and “public policy” and henceforth, “Every obligation . . . Shall be discharged.”

    As a result of HJR 192, and from that day forward (June 5, 1933), no one in this nation has been able to lawfully pay a debt or lawfully own anything. The only thing one can do, is tender in transfer of debts, with the debt being perpetual. The suspension of the gold standard, and prohibition against paying debts, removed the substance for our common law to operate on, and created a void as far as the law is concerned. This substance was replaced with a “PUBLIC NATIONAL CREDIT SYSTEM” where debt is “LEGAL TENDER” money.

    HJR 192 was implemented immediately. The day after President Roosevelt signed the resolution, the treasury offered the public new government securities, minus the traditional “payable in gold” clause.

    192 states that one cannot demand a certain form of currency that they want to receive if it is dollar for dollar. If you review the Modern Money Mechanics article you will discover that all currency is your credit! The Federal Reserve calls it “monetized debt.”

  108. Therefore Patrick, the notes and mortgages are a nullity…..NULL & VOID..they have ZERO VALUE…..A BIG FAT ZERO…

  109. Patrick….THERE ARE NO NOTES OR MORTGAGES….. TBTF ….THE BANK OWNERS…..destroyed the notes and the mortgages when they committed the ORIGINATION FRAUD…….THERE IS NO LEGAL CORRECTION FOR THE ORIGINATION FRAUD.


  110. lvent….lvent….lvent…must have really got under you trolls cheap, thin veneers. I always strongly disliked veneer. I like to keep it real.

  111. Somebody, somewhere has to own the note.

    Plaintiff’s attorneys in Florida love to site RIGGS vs AURORA for the proposition that possession of the original note, indorsed in blank, is sufficient under Florida’s Uniform Commercial Code to establish that it was the lawful holder of the note, entitled to enforce its terms.

    Plaintiff’s attorneys in Florida also love to strike affirmative defenses which raise the issue of plaintiff’s ownership. It is part of the playbook to argue plaintiff doesn’t have to own the bearer note in order to enforce it and that plaintiff’s ownership is inmaterial as an affirmative defense.

    This would be true if sombody, somewhere, owns the note. If nobody owns the note, there are no terms to enforce and the paper has no characteristics of negotiability. For there to be an owner, a value must be reported on somebody’s balance sheet ledger. Plaintiff, as holder, may not have to be the owner to enforce the bearer note but plaintiff should be prepared to establish who it is that reports the offsetting liability and the amount of said liability. So while a possessor of a bearer instrument may attempt to sue to enforce the terms of a note for a money judgement, the remaining value assigned to said note resides on the owners balance sheet. Without establishing who owns the note, the party cannot establish with certainty the correct amount or value to ask for. Nor can the court presume the plaintiff is a LAWFUL ucc 3 holder of a VALID note.

    Perfection of note ownership is necessary to establish the lien plaintiff seeks to enforce is valid. For if nobody owns the note, there is no lien. Failure to plead somebody, somewhere owns the note is a failure to state a cause of action to enforce a VALID mortgage instrument.

    Ownership is a necessary element in order to establish economic injury. A claim for relief must be offset by an actual injury and if the party seeking relief hasn’t been damaged, joined with the injured party, or received written authorization from the injured party to proceed on their behalf, they cannot avail themselves to the jurisdiction of the court to enforce the mortgage. Why is that? Because both the claim of damages (i.e. the default) and the remedy is the exclusive property of the owner. The party suing for relief must be the true owner of the damage claim sued upon. A party can’t borrow damages owned by somebody else and seek relief for itself. For a claim of damages (i.e. default) and the remedy to be valid, somebody, somewhere has to own the note.

  112. You trolls can attack me all you please, nothing changes the truth. I am far from insolvent, I was robbed. However, I am free because I have something money can’t buy…..I know the truth about this evil totalitarian control freak plan by these totalitarian control freaks.

  113. The truth is these UFOs & ETs are the work of the Corporate control freaks. They worship evil and the people running the show are evil.

  114. Being a new blogger here, I really don’t know you. When you know the truth, the truth is unchangeable. ” I am not a new blogger here, I am aka Ivent the Insolvent in Denial. ” The truth is unchangable … when you know the truth.

  115. Being a new blogger here, I really don’t know you. But what I do know is…… Christine is onto the alternative control freak plan by the same crooks. The fictitious trust she is promoting and “free energy” is another trap by these Communist Corporatist control freaks. We already have all the free energy, natural resources and our own monetary system in our original Constitutional Republic. This b.s. Christine is promoting is more Globalist crap that flies in the face of our freedom & independence…..our NATIONAL SOVEREIGNTY. When you know the truth, the truth is unchangeable.

  116. No one insulted you Christine. The truth is the truth. Why you find the truth so insulting is questionable, and makes everything you try to promote, highly suspect. The word “free” is always a red flag for me.

  117. I know it’s off topic but I completely agree with Christine about the economic crisis and the foreclosures being a distraction to keep people under control.

    If you make a timeline, it becomes easy to see the correlation between the technological advances of the past 30 years and the successive economic crises during that time. The more they were becoming able to communicate between themselves and the more difficult it seems to have been to control people. The S&L, 911, 2008 and even Monsanto appear to have orchestrated to refocus the masses on their individual needs: food, shelter, health, survival and the fight to remain alive. That way, they wouldn’t look into anything else. In that timeline, you can see where UFOs and ETs become a serious topic of conversation. It’s right at the beginning of that 30-year span.

    I think she is onto something.

  118. I never said Tesla invented anything. He applied his knowledge to create things. He was a brilliant innovator and his innovations were meant to make the world a better place for everyone. His knowledge, no matter where it came from, he knew how to apply it. From what I have read about him, his innovations were not meant to be used for nefarious control freak purposes. Do you really believe the technology for the home pc was invented by Steve Jobs….? No. He was an innovator as well. The control freaks use everyone up and throw them away.

  119. Whatever. Insulting me doesn’t change how right I am. The world is in for a hell of a shock. And I reiterate: Tesla never invented anything. Nor did anyone else. At best, they “uncovered” something. Invent as in “It exclusively came out their brain and no one ever knew that before”? Nope. Never.

    Throw your little issy fit or fall off the deep end if it makes you happy. Doesn’t change the veracity of what I am saying.

  120. I never said the word invent… are putting words in I never said. Pretty defensive…..that could only mean one thing, a coverup. These crooks steal everything, and invest in it, that’s all they do.

  121. You are a liar Christine. Tesla was a genius.

  122. Tesla didn’t invent anything. I would tell you to go look at the etymology of the word “in-vent” but that would be a waste of my time.

    And as i have kept saying for years, the best way to keep people uninformed is to destabilize them with constant fear. Foreclosures are a distraction intended to do just that. Judging by the energy spent by millions fighting against windmills for centuries, it’s been working quite well…

  123. Obama only does what the Corporate thieves tell him. They want a welfare nation because if they didn’t, they wouldn’t have stolen our wealth and livelihoods that created these economic conditions. They would have prosecuted these crooks, took back our stolen wealth, there wouldn’t have been any fraudclosures. This country has been hijacked by these Corporate crooks so, I don’t hold out much hope for free energy. Nothing is free as long as these Corporate maniacs are free to steal our wealth and invest in things they don’t own.

  124. This just gets weirder everyday. If Christine read my comments on the direct energy weapons, it is all related to free energy and Nicholas Tesla.

  125. The truth embargo about UFos, ETs and the existence of free energy available to everyone is about to end. According to Steven Bassett, with the press conference worldwide coming up on 4/29/13 simultaneous in English, Spanish, French and possibly Chinese, the truth will reach half the world population. By this summer, the world as we know it will be completely over. White House, Military, CIA and others will be seen as the traitors they have been for the past 70 years.!

    You don’t need to believe it. Just wait and see. But between the Sirius by Dr. Greer coming in April, Russia constantly alluding to it, France pushing for disclosure and Steven Bassett now on the attack, Obama has only a few weeks to come clean about it. If he fails to take the lead now, America as a leader is done and over with.

  126. I always knew the guy behind Dilbert was a real genius! Hello Warren Buffet!

    Dilbert Creator Scott Adams Is On To You, Massive Telepathic Stock Market Conspiracy
    Posted: 03/01/2013 3:58 pm EST | Updated: 03/02/2013 1:06 pm EST

    Dilbert creator Scott Adams, best known for churning out decades of wall-calendar-ready workplace humor and an unusual endorsement of Mitt Romney, is apparently trying on a second career as a stock-market analyst.

    I am happy to report that Adams is not much worse than most stock-market analysts. By which I mean his analysis is dangerous lunacy that should be ignored at all costs.

    In a blog post entitled “Here Come The Market Manipulators,” Adams unpacks a theory that the entire stock market is being manipulated by a few wealthy, mysterious operators. And he warns that these manipulators, having driven the Dow Jones Industrial Average nearly back to its all-time high, are just about to pull the plug:

    My prediction is that there will be a correction of 20% or more sometime in 2013. That will be followed by a jerky climb for the next several months back to wherever the stock was before the fall.

    Well, hey, that doesn’t sound so bad. That’s not any crazier than what some other analysts have warned recently, in light of a possibly over-inflated stock market. What is Adams’s bear-market thesis? Too much austerity? European debt crisis flaring up again? Federal Reserve raising interest rates? Actually:

    My prediction is based on the observation that the stock market appears to move as if it is manipulated by a network of big players. They lure in the excitable small investors by allowing the market to show a year or two of solid gains then they sell their shares, spook the world with predictions of doom, and buy back into the market at the lower prices.

    As near as Adams can tell, these manipulators have some kind of mind meld that lets them know exactly when to buy and sell stocks, en masse. They don’t even need those rat-telepathy implants!:

    When I say there is manipulation and collusion in the financial markets, it doesn’t mean there are actual meetings in which billionaires smoke cigars, drink expensive cognac, and make their evil plans. It might be enough that they are all so aware of each other’s moves that they just play follow-the-leader and do so faster than small investors. The sort of market manipulation I’m describing only requires one billionaire leader who is closely watched by the other billionaires. When he sells, they sell, and they all understand why.

    Most nefariously, these manipulators have the perfect cover for their manipulation: “The way the big players cover their collusion is by synchronizing their sudden exit from the market with bad financial news,” Adams writes.

    And to think all this time market-watchers have toiled under the impression that whenever a Lehman Brothers goes belly-up or the economy falls into recession, the stock market sells off because investors are worried about what such developments will do to corporate profits. Instead, it has emerged, these stories are just signals for a secretive cabal of wealthy people to sell all of their stocks at once, and then buy them back again at lower prices.

  127. The Federal & U.S. GOVT’s have been hijacked by these TBTF CORPORATE INVESTORS. That’s the problem. It is far worse than Capitaist Cronyism, it is Political Capitalist Cronyism. That is the only way TBTF could have committed this coup de tat of our livelihoods, wealth & property……..high treason, low treason & treason everywhere in between.

  128. Excellent points Charles. These Corporate investor crooks blew up our economy by committing a quadrillion dollars in Securities Fraud with our unauthorized signatures and it was intentional.

  129. The only shills here are those denying the truth and lying to cover it up. The truth about this evil Corporate Govt plan to fraudulently induce complete communism is not hidden to those who want to see it. Living in denial of it will not make it go away.

  130. What is owe to who and why? Banks created the financial crisis with Adjustable Rate Mortgages attached to the LIBOR which now we know its been rigged since 1991. As a result of the Subprime defaults it caused widespread unemployment which cause the other types of loans to collapse (Prime, FHA, VA, USDA) thus the foreclosure crisis (crime).

    I cannot lend you monies and break both your hand and expect you to be able to type and make money to repay the debt. What taken place is no different than a loan shark making a loan, which they are not legally authorized to do, then breaking both your legs, while planting Improvised Explosive Device (IED) knowing you can walk or drive to walk to make the funds needed to fulfill a contract.

    However this mortgage scheme is two fold and that is one the homeowners and the other is the Federal Government. I get the hatred of neighbors thinking that the guy next door is allegedly getting something they perceive for free, while they must keep on paying on their mortgage. Yet it the modification had been implemented correctly we would not gotten to this point because there would have been a workable solution before we here invested time to investigate what exactly has taken place.

    So we got some bank that long ago relinquish it interest in the Notes, coming back into play themselves as servicers or some servicer acting on behalf of the alleged lender, conducting a administrative foreclosure that they have absolutely no right to conduct. Bank nor Ginnie Mae went to the court with a paper trail of ownership, because there is not one. So now on top of having your home stolen you as a US taxpayer are also paying the fraudulent insurance that is submitted by the servicer for the self inflected womb that they as the shooter created.

    The Federal Government has to understand that we are putting them into this crime as the receiver of stolen goods and then reselling the stolen homes, plus the Federal Government was tricked or willingly pay out False Claims of United States Government funds to non-owners of properties as part of the FHA Mortgage Insurance Premium and VA Guaranty Fund, which covers the BACK end of the loan, where on average 10% of the loan balances where paid back.

    But what funny here is that other citizens that think that they are not involved would rather not seek the $24 billion in claims and treble damages for 2009-2010, and allow the bank to kept this monies instead of their neighbor to keep their homes.

    But where we have failed is to make neighbors understand that its not government monies that is being sought after but he who committed the fraud.

  131. Yep! Its a Shill!

  132. There is a nefarious agenda behind these denials of doctor visits…the Corporate Investor crooks are trying to force us into accepting OBAMACARE ….OBAMACARE is TOTALITARIANISM …..Complete Corporate Investor greed control freak bullshit by these Corporatist Communists. OBAMACARE is a new infrastructure that is make no mistake….Complete Communism. 1200 pages of complete Corporate Communist control from cradle to grave of every American. OBAMACARE has 9000 pages of “FEDERAL LAWS” attached to it.

    Look into the pharmaceuticals industry, particularly MERCK and there ties to the Nazis.

    There is no reason why in a nation of 500 million, there is not affordable PRIVATE HEALTHCARE COVERAGE FOR ALL…

    Corporate Government controlled healthcare…..OBAMACARE is a CONTROL MECHANISM OF THE ELITE and is an abomination that will destroy our freedom, privacy, independence and our Constitutional Republic.

    There are nefarious reasons for the lack of employment opportunities and skyrocketing costs of everything we need to insure and protect our Life, Liberty and Property….

    These Corporate Investor crooks want Complete Control, Complete Communism via the microchip in OBAMACARE. These crooks want everyone working on their Corporate Government Slave plantation and to debit everything we need to live out of that microchip. Please, do your own research people.

  133. res judicata

  134. If all I said below isn’t bad enough, here’s some more. The Corporate investor crooks are denying medical care, denying people doctor visits who don’t have insurance. They are denying Medicaid and giving food stamp pittances to the victims of their crimes who already paid for these services. People are going to Corporate “minute clinics” and are waiting hours to be seen by nurse practitioners. People are eating out of food pantries to keep their utilities on. The Corporate investor crooks are skyrocketing the prices of our utility bills to force us to not be able to pay. In the town where I live people of modest means are getting $700.00 water bills in the winter time that should be a fraction of that.

    This is Corporate Investor terrorism upon the American people on steroids. Go hire an attorney…? Yeah right..!

  135. It’s getting increasing traction but it’s still is up to people to move their butt and use those filings. No problem with that.

    Ann Bressington (Australian politician) says she has put the OPPT stuff past a retired corporate lawyer in Australia and he confirms the OPPT UCC FILINGS have legs, the question is whether the people will enforce it! (Courtesy Notices and invoices people! NOW).

    Also she says in the courts there are two sets of rules going on: the judicial run on UCC and lawyers run on statutes – hence why the people do not find remedy. [Yes, they do have two sets of rules. Up to us to enforce those we believe in.]

    Ann Bressington (born 1955) is an Australian politician. She was elected to the South Australian Legislative Council at the 2006 South Australian election as Nick Xenophon’s running mate on his independent No Pokies ticket. Her election was a surprise as it was not expected that two people on the ticket would be elected.

  136. These Corporate crooks don’t pay back who they borrow from ….the U.S TAXPAYER’S.

    We pay back our debts in this country when there is a code of honor.

    There no longer is a code of honor in America with these Corporate crooks because they so severely dishonored us without our knowledge or consent that they completely destroyed our trust.

    When you know the truth about where our money is really going, if you have any morals at all, it is completely revolting and if it’s not, shame on you…!

    I was in McDonalds drive thru late last night getting a coffee because I needed one…right next to McDonalds was a CHASE bank. In front of my eyes a picture of this horror show they created was painted. An old homeless man was riding through the parking lot of CHASE on a bicycle with all if his belongings in 2 trash bags tied to the handlebars all while a cop was circling the parking lot protecting the Corporate crooks who destroyed that mans life and millions of others with our stolen wealth.

  137. Creditor:

    “A creditor is a party (e.g. person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property or service to the second party under the assumption (usually enforced by contract) that the second party will return an equivalent property and service. The second party is frequently called a debtor or borrower. The first party is the creditor, which is the lender of property, service or money.”

    Empty securitization trusts are foreclosing…yet they lent nothing…they provided nothing…they are not creditors…they are owed nothing.

  138. If you are a big shot millionaire Corporate lawyers will take your case or if your elderly and got swindled by the banks. I am neither of those. Bottom line, the banksters robbed us into this mess and it was intentional. If you are rich, you can afford to have attorney’s fight your battles for you, if you are not, and you “get it” you are left no other option but to fight for yourself.

    This is the direct result of the fraudulently induced and completely corrupt Corporate Government.

    The majority of the fc attorney’s are there to Control the Fraud not to fight for justice for the majority of the victims who were financially wiped out by these Corporate criminals. TBTF wantonly committed these Criminal fraud crimes against us with our autographs and still are.

    None of what is being done for the only stakeholders in this mess who are, WE THE PEOPLE is fair or just because the nation has been hijacked by Corporate criminals who hide behind Corporate Logos and Investing to commit their crimes against us.

    There are no attorney’s who are willing to fight these Corporate crooks unless you are rolling in the dough. The majority of us are not, and that was intended.

    A big part of this crime was no criminal prosecutions for the Insider Trading that these Corporate crooks committed in the completely manufactured 2008 stock market “crash”….that’s why all parties to their crimes were “insured” on their risks.. but NOT BY THE AMERICAN PEOPLE……IT WAS INSURANCE FRAUD ON STEROIDS….AIG HAD $600 TRILLION IN INSURANCE DEBT IN 2008 BACKED BY OUR INITIAL $12 TRILLION DOLLAR INVESTMENT….THEY WERE INSOLVENT ON THEIR BALANCE SHEETS….AND WERE USED AS A SIPHON FOR THE RICH TO ROB AND TRANSFER OUR WEALTH…..

    That manufactured stock market crash was the biggest robbery and transfer of wealth from Main Street to Wall Street to their owners overseas bank accounts in history and that is really why we are here.

  139. Oh… dont panic, Buttwipes are not only just Disposable, they are also Biodigradeable. 🙂 Is that a Flushing Sound I hear?

  140. Instead of filing BK on one unsecured debt and paying off the principal (no intrest) in short term BK … and ruining my credit to boot (in addition to my husbands). I chose to set on the sideline and let the big fellas battle it out, …… On the sidelines, I get to play Grandma! I Love Circle Time! I Never Grew Up and I do Not plan to … Its No Fun!

  141. My accountant says he has been receiving letters requesting that he confirm the taxes from 7-8 years ago were accurate as Countrywide/BOA are conducting an audit for the investors.
    Anyone else hear of this going on in their accounts ???

  142. This sounds a lot like my school loans.

  143. We always payback the person we borrow from …. Its a Way of Life here in the Hearland!

  144. It has been awful nice of the pretender lender to keep up the FHA insurance payments on this loan. I giggle everytime I think about it …. knowing that the buttwipe will Never be able to collect! hahaha

  145. @ Charles Reed, I’ve seen your posts on the Ginnie Mae fraud posted all over the internet, from east to west, and appreciate the lengths you’ve gone to try and get this out into public knowledge.

    What you’re revealing, or trying to, is a very graphic in your face example of the incredible struggle we’re facing. In my own situation, I have absolute proof that my mortgagee wrote bogus, fraudulent loans across the country, and that fact has been backed up by my department of commerce. However, their chief of legal has buried my documentation and refuses to come out on the illegalities, the effect of which is to send hundreds of thousands more families to the curb. It’s all done in the name of saving the banks, and perversely, their way of life. It secures their position at the trough.

    You and many others, Garfield, Barofsky, Yves Smith, have peeled back the layers to no longer be simply theoretical cases, but actual undeniable criminality. And yet TPTB refuse to not only indict, but won’t even investigate, or when they do, all the results are visible only in their façade of smoke and mirrors, the construction of yet more Potemkin villages, pretending to act, when everyone save for the asleep populace knows that they’re not. We’re up against a machine that whirs for its own satisfaction, damn the consequences for the nation.

    It’s impossible to function within a system that works only for those with their hands on the levers. Ancient Rome ended in this exact way, with even a similar screwed farming system as we’re seeing today, with the elite booting the farmers who had farmed for generations and knew how to steward their lands….everything we’re seeing today is a replication of earlier civilizations just prior to collapse. We’ve learned nothing.

    Read Dmitry Orlov’s tale about the collapse of the Soviet Union. He’s dual citizenship, Russian/American, and saw first hand the collapse from without and within. The Soviet oligarchy was imbibing in exactly the same types of media ownership/censorship, bad farming practices, financial crimes, and grafted cronyism that we’re witnessing today, at the expense of all. And a huge expense it was.

    I’m not saying you or anyone should stop ringing bells or shouting from the rooftops, on the contrary, we need to step up our shouting, take it to the next level, demand change. We need to root out these bastards and loosen their infrastructural support, both the politicians and the finance institutional C-officers and those who do their bidding, because they don’t serve Americans or mankind, only themselves, at the expense of the entire planet. They must be stopped, and their crimes exposed. They don’t deserve to walk free, they’ve proven that fact in spades.

  146. Outside a courtroom it is called Justice, Sweet Justice! I Like Justice! The homeowners money is going back to the Invester, and the taxpayor has no losses on this loan. Works for Me! 🙂 …

  147. Stripes….They do if you pay them or their cival attorneys within the Lawfirm. I hear you Charles.

  148. One you realize that every blank Note that Ginnie Mae got relinquish to them, it can’t never ever be re-endorsed and exchanged for any purpose, and that Ginnie Mae did not purchase the debt, they have absolutely no rights.

    They are not in title and the previous owner of the debt who is on title is no longer and valid Title/lien. Title/lien is a debt owed to the titleholder and the homeowner which is no longer that case, and that transaction should have been informed to the local land recorded.

  149. Corporate lawyers don’t want to take these cases either……

  150. Looking out my window at these big Beautiful snowflakes falling from the sky. It almost feels like Christmas in Illinois.

  151. This is the first time I’ve heard it described this way…

    Have these “slush fund” accounts been physically identified, i.e., can it be proved from the mere existence of these accounts that no money ever went into the trusts?

    That should make things pretty simple.

  152. Something to think about. I did not get it then … But I do Now! Why would BOAna file a Bogus transfer of the Note and Mortgage when we demanded the CW 08 LP be released from Public Record (Title)?

  153. Carie, you actually hit a good one there. Now look into the Discount rates the Depositor used to maintain the residuals. This is how the pools were bled out over the first 24 months of creation.

  154. Do you know how to beat a corportate buttwipe lawyer? Hire the Best in State, Private (Corporate Law) Community Lawfirm to Represent You! I Always Listen To Sheriff Dan! He is the Man!

  155. I am not a Lawyer, but like UKG… I play one at home. 🙂 Our attorney takes care of all that legal stuffs.

  156. After re-enstateing false defaults (no mods) with CW and then BAC, I suspect BOAna as servicer for non mers member gets the idea ….. its Not happening Again! Its Enforcement All the Way! Bite Me Buttwipes!! You may not go to Jail for what you did …. but you will if you try it again!! Buttwipes!!!! Game is Over!! Its time to drop your Fraud Claim to my Title or Take Me to Court if you have the Balls!!

  157. Neil, When are we going to talk about the beneficiary? You know… beneficiary to what? Liabilities?

  158. The TBTF who were bailed out were just used as front operations. They were insolvent on their balance sheets…they were straw entities, proxies for the rich. AIG was $600 trillion in the red in 2008…the $60.4 trillion in “bailouts” was simply a massive robbery and transfer of our wealth. The TBTF who were bailed out are all insolvent on their balance sheets and were all used as black ops proxies for the rich.

  159. The blank notes were unauthorized Charles…they were & are Securities Frauds….Counterfeits & Forgeries without the Legal Assignments.

  160. The U.S. TAXPAYERS funded the Origination of every instrument in this country. The banks had a hey day printing money off of our unauthorized autographs for themselves and their criminal friends on Wall Street. They monetized things that did not even exist. Probably even the blue ink on the Originals. They gambled on every aspect of this massive Securities Fraud. It was a giant unauthorized slush fund orgy with the U.S. TAXPAYERS money by these sickos. That’s what it was. They made the Las Vegas casinos look like mickey mouse operations.

    The insider trading …the buybacks by the Originators of the fraud….the bank owners …was their private little theft operation and coup de tat of our wealth….the billions in insurance money that was paid out on that stock market crash to the bank owners and the banks by U.S. TAXPAYERS via AIG was just their appetizer. The main course was the theft of our property incentivized by all that bail out money for their perps. They used that money printing extravaganza to do all sorts of transfers of our stolen wealth into their overseas bank accounts. The repurchases of their own securities fraud were also done with our stolen wealth. $60.4 trillion dollars stolen from U.S. TAXPAYER since 2008 reported CNBC.


    The robbery continues unabated. Obama said today he would cut Medicare & Medicaid “IF HE HAD TO”……


  161. Pending says “rights of a holder”……how did the transfer occur to give them “rights of a holder”….? The Originator would have had to Perform on their contract first to give someone “rights of a holder”…if their is no legal agreement, the subsequent party stands in the shoes of the Originator…..otherwise anyone could lay claim to your property.

    There has to be a line drawn that prevents that. That is why the Legal Assignment is so important. It is the only legal protection of our property. The securities were not created means we are all in peril.

    That is why these imposters and these fraudclosures should have been stopped a long time ago.

    This Securities Fraud by the banks was a massive breach of our National Security of our property.

  162. Pending Lawsuit, yes I could see if A was the originator of the loan and had not sold the loan or signed in blank the Note and relinquished, then they could give the servicer permission to foreclose for them as long as the owner was in title. If B purchase the loan and had not sold the loan or relinquish a blank Note to another, the with the permission of the owner of the debt in title, then they could foreclosed for the owner but not as the owner themselves because they are not the owner.

    What you have in all cases with Ginnie Mae is where the Notes without any payment what so every from lender to Ginnie Mae or anyone the Notes are signed in blank and once in the hand of anybody, they own the document. However as a Note is only a Note when a debt is owe between the two party in the contract and not somebody named blank who not got any proof of purchase.

    Under UCC 9 the holder of the Note has the burden of proof, and the burden is simply bar to cross by simply proving a cancel check or wire transfer, etc but there is a fact that prevent this from occurring with Ginnie Mae as the possessor of the Note and that is by law they cannot buy or sell a home mortgage loan at all, and they do not originate the loans.

    What was set up was never meant for this many foreclosures at one time, as Ginnie Mae and the servicers could hide a few here and there over the years and the government homeowner being on the bottom of the knowledge pool, which they would never put 1 & 2 together, as 799,999 foreclosed government borrowers saps did not, but that 1 more sap was the straw that broke the camels back.

    You must be owed a debt you either originated and funded the loan or you purchase the debt in a sell as a lender of mortgage loans. A loan shark cannot purchase these loans, your local 7Eleven cannot purchase the loans, and Ginnie Mae cannot purchase the loans, and did not purchase the loan. Simply what happen is that the debt was wipe clean because of the way the Blank Note was transfer to a party that could not utilized the Note in its intended purpose. Once the Note no longer contain the debt provision it no longer is a Note, because there is not debt owed as the lender is gone and has become a “issuer” of Ginnie Mae Mortgage Backed Securities and has no financial interest in the loans which it relinquish to Ginnie Mae, however oops there was no transfer of funds in the way of a purchase!

  163. Neil said:

    “…The investment bank funded the loan from a giant slushfund of all money paid by all investors for all mortgage bonds issued by all asset pools.”

    NOPE. No funded loans—only collection rights…you can’t “fund” collection rights.

    No “slushfund”.

    When will the misinformation stop?


    The courts are allowing Trustees of empty trusts foreclose, who proclaim that the (empty) trusts are the “owners”.

    MBS’ are not owners of a funded loan, or creditors, or beneficiaries—yet they are permitted to foreclose stating that the Trusts are the “owners” of the “loans”.

    There is NO ONE enforcing the truth.

  164. Seriously, just the suggestion that these scumbag attorneys should sign an affidavit sends them packing

  165. Amazing! Looks like some bankers have all of a sudden found religion… Must be something in the water!

    Stunning List of Economists, Financial Experts and Bankers Say We Need to Break Up the Big Banks
    Posted on March 1, 2013 by WashingtonsBlog
    Top Economists and Financial Experts Say We Must Break Up the Giant Banks

    The following top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion:

    Nobel prize-winning economist, Joseph Stiglitz

    Nobel prize-winning economist, Ed Prescott

    Nobel prize-winning economist, Paul Krugman

    Former chairman of the Federal Reserve, Alan Greenspan

    Former chairman of the Federal Reserve, Paul Volcker

    Former Secretary of Labor Robert Reich

    Current Vice Chair and director of the Federal Deposit Insurance Corporation – and former 20-year President of the Federal Reserve Bank of Kansas City – Thomas Hoenig (and see this)

    Chief Stability Officer at the Bank of England, Andrew Haldane (and see this and this)

    Former Federal Reserve Bank of New York economist and Salomon Brothers vice chairman, Henry Kaufman

    Dean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W. Bush, R. Glenn Hubbard

    Former chief economist for the International Monetary Fund, Simon Johnson (and see this)

    President of the Federal Reserve Bank of Dallas, Richard Fisher (and see this)

    President of the Federal Reserve Bank of St. Louis, Thomas Bullard

    Deputy Treasury Secretary, Neal S. Wolin

    The Congressional panel overseeing the bailout (and see this)

    The former head of the FDIC, Sheila Bair

    The head of the Bank of England, Mervyn King

    The Bank of International Settlements (the “Central Banks’ Central Bank”)

    The International Monetary Fund

    The leading monetary economist and co-author with Milton Friedman of the leading treatise on the Great Depression, Anna Schwartz

    Economics professor and senior regulator during the S & L crisis, William K. Black

    Leading British economist, John Kay

    Economics professor, Nouriel Roubini

    Economist, Marc Faber

    Professor of entrepreneurship and finance at the Chicago Booth School of Business, Luigi Zingales

    Economics professor, Thomas F. Cooley

    Economist Dean Baker

    Economist Arnold Kling

    Chairman of the Commons Treasury, John McFall

    The Director of Research at the Federal Reserve Bank of Dallas, Harvey Rosenblum

    Director, Max Planck Institute for Research on Collective Goods, Bonn, and Professor of Economics, University of Bonn, Martin Hellwig

    Even current Fed chairman Ben Bernanke says that the big banks should be downsized:

  166. Isn’t Oklahoma the state that refused to participate in the infamous $25 billion settlement?

    Attorney General’s New ‘Resolution Oklahoma’ Program Provides Free Legal Help for Homeowners
    Families, Attorneys Encouraged to Apply

    OKLAHOMA CITY – The Attorney General’s Office and Legal Aid Services of Oklahoma are providing free legal help to homeowners who are facing mortgage issues or foreclosure.

    The program – Resolution Oklahoma – is designed to help Oklahoma residents stay in their homes or seek the best outcome for their situations. The program is provided by a grant from the Attorney General’s Oklahoma Mortgage Settlement Fund.

    The fund was created in March, following a settlement by the AG’s Office with five of the nation’s largest mortgage servicers. Mortgages do not need to be with one of the five servicers to apply for the Resolution Oklahoma program.

    “We signed a separate Oklahoma Mortgage Settlement so we could craft solutions that were best for our state,” Attorney General Scott Pruitt said. “Throughout this process, we found homeowners fared better with the help of an attorney. Through Resolution Oklahoma, we will be able to provide this critical legal assistance to Oklahoma families.”

    Oklahomans with lower incomes or seniors should first contact Legal Aid Services of Oklahoma to determine if they qualify for income-based assistance under Resolution Oklahoma. Homeowners who do not qualify for income-based need can apply for a voucher worth up to $5,000 in legal services through the AG’s Office under the Resolution Oklahoma program.

    The voucher application must be completed by homeowners and their attorneys of choice and submitted to the AG’s Public Protection Unit for approval. Once approved, the attorneys will provide the services needed and submit the invoices to the AG’s Office for payment once the work is complete.

    Voucher applications are available online at, by e-mail at or by calling (405) 521-2029.

  167. Friday, March 1, 2013
    Dave Dayen: Servicers Committed Loan Error Rates of Either 4.2% or 97.2%, Take Your Pick

    By David Dayen, a lapsed blogger, now a freelance writer based in Los Angeles, CA. Follow him on Twitter @ddayen

    Anyone paying a smattering of attention justifiably raised a skeptical eyebrow at the Office of the Comptroller of the Currency’s assurances to Congress that the Independent Foreclosure Reviews revealed hardly any borrower harm from servicer malfeasance. First of all, from the reporting we know, OCC just dropped this 4.2% error rate number without supporting information from the loan files. Second, the error rate contrasted wildly with what Yves uncovered in her superlative series on Bank of America reviews. Most critically, if the reviews were finding no borrower harm, there would have been no real reason to ditch them. They would have reinforced the bank-supported view that foreclosure fraud was simply overblown, would have silenced critics, would have reduced bank exposure to payouts from the settlement and probably in future litigation. This would have been well worth the expense of paying out another couple billion to the consultants, for the banks to get an on-the-record fact pattern establishing their relative innocence.
    That’s what makes the bombshell story from the Wall Street Journal of all places, so damaging to the entire cover story, particularly for the OCC. If true, this actually establishes that the agency at least massaged the truth to Congress, if they didn’t outright lie:

    Some 6.5% of files reviewed unveiled errors requiring compensation, officials at the Office of the Comptroller of the Currency said in January. They later revised the error rate to 4.2% after requesting new data, raising the total number reviewed to roughly 100,000 files.
    But a breakdown of the information provided to the regulator shows that more than 11% of files examined for Wells Fargo & Co. and 9% of those for Bank of America Corp. had errors that would have required compensation for homeowners, said people who have reviewed the figures. A narrower sample of files—representing cases selected by outside consultants—showed error ratios of 21% for Wells Fargo and 16% for Bank of America, the people said.

    The OCC findings appear skewed by the outsize contribution of one bank, J.P. Morgan Chase & Co., which reported an error rate far below rivals that oversaw a much larger universe of loans.

    (Incidentally, you have to love the Wells Fargo flak’s claim that the error rate “does not provide conclusive information about actual financial harm.”)

    The reason OCC could publish their 4.2% number is that JPMorgan reported just a 0.6% error rate, according to these anonymous sources. They also completed far more reviews than their confreres. PNC Bank reported rates over 20%, but they only delivered a small share of the reviews (Yves may have more on that bit, from her reporting she’s basically gobsmacked that PNC managed to deliver any reviews at all),. How lucky for OCC that the one bank which presented a near-perfect record submitted the most reviews!

    It doesn’t pass the smell test at all that you would get such a wide discrepancy, and in particular that JPMorgan Chase would show itself to be such a precision servicer. I remember attending a NACA event where they gave out Jamie Dimon’s cell phone number to homeowners, urging them to call and harass him over the abuse his bank had exhibited on borrowers. They were seen as uniformly the worst by a wide margin.

  168. Mary says …. How do you determine if the lien has been extinguished?

    Did GMAC send you the original promissory note? Did they record the original satisfaction with the county, or a copy? They should have sent you the cancelled mortgage, stamped satisfied and the original promissory note with the endorsements. GMAC is a mess – now called ALLY. Contact them and ask for your original documents. I would send them a letter demanding the cancelled note and mortgage/deed, certified mail, return receipt requested. You may need this documentation for the future.

    Next, contact your title company. The policy is effective for the length of time you and your heirs are in the home. Ask for a copy of the policy, along with a copy of the title report they have for your home at the time of origination.

    Ask them to provide you with a list of items that constitute a defect in title.

    Keep the policy, title report and defect list for your records.

    Next, Google the names of all the individuals who signed and endorsed your Discharge/Satisfaction of Mortgage.

    Use keywords like robo-signer, document fraud, Assistant Secretary, Assistant VP, MERS, with their names. You’re looking for evidence they are who they say they are and worked for the company who had the legal duty to discharge your mortgage. Conduct your search different times of the day and be willing to go to page 10 on the organic results. The government – which now owns ALLY -has hired Reputation Defender – so it’s getting more difficult to find the info in online searches.

    You should find documents from registries through-out the country that they signed.

    Check to see if the signature is the same – consistent on all docs. Is their title the same, or do they sign under different titles? Is their title and company name typed beneath the signature? Or, does it look like they are trying to hide the employer’s identity?

    Review the notary’s signature. Is there a stamp? Were they licensed at the time they signed your doc? Check with your state’s dept. of consumer affairs or Attorney General. They will have a record of the notary, their license number and dates of their commission.

    Also check to be sure the notary is licensed and works in the state where the signers are located. For example, we have seen signatures of Asst. VP, Asst. Secretary who are located in California and the docs were endorsed by a notary in Texas. Not good.

    If you find evidence that the signatures are forged on documents – notable differences, you can find the signer’s signature on their own mortgage at their county clerk. I did this – simply found the notary’s home address and contacted their registrar of deeds and paid for a copy of their mortgage to examine his authentic signature. Heh.

    Use LinkedIn to check the signers employment history and title. Did they work for the company they claimed to on your document at the time they signed? Was their title the same?

    I’m guessing you have a MERS mortgage, or language in your mortgage that says GMAC could sell your loan. Examine the doc closely. What company names are typed on the page? Do you see LPS, or Orion anywhere? If so, odds are your Satisfaction is robo-signed.

    If you find evidence that the chain of title is broken, meet with the best attorney who specializes in property title issues.

  169. You have that right Charles! They (using invester pooled funds) set up loans, bet the loans would fail and if they didnt fail … they gave them a little push!!! In our case … they needed the fc deed to cash in with FHA (taxpayor, Me), and double dip their servicing fees again on the back side and dump the balance less thier fees on the investers (me) with the losses. Buttwipes!

  170. Under Commercial Code § 3301(b), “person[s] entitled to enforce” an instrument include a “non-holder in possession of [an] instrument with the rights of a holder.” A non-holder in possession with the rights of a holder can enforce the note even if it does not become a holder.
    Thus, a “holder” of a note can authorize a third-party “non-holder in possession” to enforce it by transferring the note to the third party. This is the UCC analog to the common law rule of Adler that a note can be enforced by its owner’s authorized representative.
    A non-holder in possession with the rights of a holder “includes a person who acquired the rights of a holder by subrogation or pursuant to a transfer as provided in Cal. Com. Code § 3203, subd. (a), or any other person who under applicable law is a successor to the holder or otherwise acquires the holder’s rights.” Masterson, Baron & LaMothe, California Civil Practice Business Litigation (Oct. 2012), Chapt. 42, Negotiable Instruments, § 42:22, citing Cal. Com. Code, § 3301, Uniform Commercial Code Comment.
    “Thus, for example, if a transferee of an instrument is not a holder because the transferor did not indorse, the transferee is nevertheless a person entitled to enforce under Cal. Com. Code § 3301 as long as the transferor was a holder at the time of the transfer. The transferee acquires the transferor’s rights as a holder pursuant to Cal. Com Code § 3203, subd. (b). The transferee acquires no greater rights than the transferor, and acquires no rights at all if the transferor was not itself a holder.
    Just one example: under Commercial Code § 3203(b), A bank cannot claim the rights of a non-holder in possession if it received the debtor’s Note from a purported holder in due course in a transaction affected by fraud or illegality.

  171. Here is what I have been saying about Ginnie Mae pool which is the best example of a holder that clearly does not purchase the debt because it cannot buy or sell a home mortgage loan at all. Ginnie Mae is not a lender and could not sign up for the HAMP program and is why the FHA had $70 billion loan lost.

    The not going to be cases were Ginnie Mae is recorded at the local land recording offices as the owner of the debts, because they cannot buy the debt. This game is over as servicers were illegally foreclosing and then submitting False Claim for insurance money to the Federal Government!

  172. AIG buyback all remaining warrants issued to U.S. Treasury:

  173. If you Break it… You Buy It!

  174. Simple but True Neil. Listen Up …. Under Law, If I damaged your property, I have to pay you your losses. If I was a Bad Boy and I forged mortgage endorsements and liens that casued losses to the legal beneficiary, I would be responsible for those losses! So I get sued and settle those losses. Can I now come after the homeowner who also had losses? or Can the homeowner sue me to?

  175. If they don’t have the legal assignment, they are third party debt collectors not before the court and are not amenable to service of process. They are imposters; fictitious payees…..ENTITLEMENT PEOPLE. Investment is not ownership in the U.S. without the Legal Agreement. Repurchase agreements of soured debt is fraud. NO EX POST FACTO LAWS ARE ALLOWED IN OUR CONSTITUTIONAL REPUBLIC. TBTF IS A RICO.

  176. 8 governs investment securities & 9 governs secured transactions which cannot be created without Acceptance 3-103 & Consideration 3-303 by the Originator. The Issuer of an Investment Company Security cannot guarantee what they are Issuing without PROOF OF CONTROL…..DELIVERY & POSSESSION BY THE APPROPRIATE PERSON ; BY THE ISSUER OF AN INVESTMENT COMPANY SECURITY…NOT BY OVERISSUE IS THE PURCHASER OF A SECURITIES ACCOUNT PROTECTED…..INSTRUCTION OR INDORSEMENT DOES NOT GUARANTEE THE SIGNATURE INDORSEMENT…THE ISSUER MUST HAVE The Legal Trust Agreement……ARTICLE 3 IS PERFECTION OF THE SECURITY INTEREST…and creates the Security & the Security Entitlement by Acceptance & Consideration…..You can’t have Article 4, 8 or 9 without Article 3.

  177. Investment, Indorsement or Instruction do not Guarantee Security Entitlements in our Constitutional Republic. First the Security must be created by Acceptance & Consideration for this Security Entitlement to exist. The forecloser must hold Legal Title by Perfection of the Legal Lien. The Trust Agreement IS THE SECURITY….THE LEGAL AGREEMENT……THE PROOF THE ISSUER PERFORMED ON THE CONTRACT. Without that, Securitization never occurred.

  178. Great points Neil- I was reading an article written by a law professor, which was published in a law review, or the law review, whatever that means. He stated that the UCC is glossed over in law school, that no one pays much attention to it. This is disheartening, as I have read numerous Article 3,8 & 9 discussions by so many lawyers that I can’t remember them all. But yes, the ‘holder’, nonholder with rights of a holder, nonholder in possession, holder-in-due course definitions can’t be dismissed, but where is the owner? Where are the receipts for delivery to the depositor for the trust? And, ‘for value’ , what value? It’s the same tired bovine excrement from all the mill attorneys who don’t have any work otherwise. So whadda we do now? Any suggestions? Many courts hold that the borrower isn’t a 3rd party beneficiary to the PSA, anyone making any headway there?
    The above topics are candidates for another discussion by you. Keep up the good work.

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